Joe Biden has a monster sleeping under his bed and it’s giving him nightmares. The Creature from Jekyll Island snapped it’s chains and is on the rampage. According to reports, His Wisdom “begged the U.S. Central Bank to curb inflation.” There’s only one weapon the Palace can use to poke the creature back into it’s cage, and Imperial Leader Joe has no idea how to use it. The magic talisman is TAXES. The trick is that it takes a real wizard to get folks to actually pay those taxes and Joe can’t even remember which room he’s in.
Biden begs for salvation
Liberal beltway pundits are getting anxious. Palace officials, they say, “have been worried that skyrocketing consumer prices would further erode his waning popular support.” That’s why Biden “reportedly begged the U.S. Central Bank to curb inflation that has been spiraling out of control under his watch.”
He told Federal Reserve Chair Jerome Powell to do “whatever it takes” to control inflation. He’s barking up the wrong tree. The fed uses inflation to feed the “Creature From Jekyll Island” they keep chained up in the basement of the Federal Reserve. It seems like they have it in training to go after Godzilla, who’s been sucking up the radiation from Fukushima like Red Bull.
Food, gas, rent, utilities like electricity – prices for all of these everyday expenses are going up because of the inflation fueled by Biden’s failed policies.
— GOP (@GOP) July 16, 2021
The latest numbers show inflation jumped a terrifying “5.4 percent year-on-year this month.” Economists note that’s “way above the Federal Reserve’s two percent target.”
People who aren’t economists have no problem seeing the spike in food, gas, rent, and utilities. “Prices for all of these everyday expenses are going up.” The reason why is inflation fueled by Biden and failed palace policies.
Meanwhile, Biden and his handlers “have refused to admit that inflation poses a problem.” They have a whip and a chair to tame the creature with. “We’ve seen some price increases. Some folks have raised worries that this could be sign of persistent inflation. But that’s not our view.”
His Wisdom squints real hard at the camera and declares with well trained calm assurance, as “I made clear to Chairman Powell of the Federal Reserve when we met recently, the FED is independent.” In other words Powell is supposed to tame his own monster, even if it’s only out of control because Joe fed him all that sugar.
We can make it worse
When Powell got dragged down to the Palace and ordered by Biden to solve the crisis and make the inflation go away, he warned that magic that powerful tends to blow up in your face. When you try to summon demons, they have a way of leaking out of the pentagram.
“Central Bank experts say the FED could raise interest rates to contain inflation. However, such a move would also increase interest payments on U.S. national debt, which is nearing $30 trillion and could make deficit spending worse.”
It’s no secret that Democrats came up with some new economic voodoo called Modern Monetary Theory and Joe Biden has been all over it for years. That’s where he got his great idea to “spend our way out of bankruptcy.”
MMT says that inflation doesn’t matter. In fact, it’s the best friend a government can have. When you own the credit card company, you simply keep raising your own limit. You’re never going to default yourself, right? So what if the payment keeps going up. Give yourself a raise. That cycle can keep going forever. Or so Democrats want you to believe.
If you really want to control that upward spiral, like Biden is apparently interested in, there is only one effective way to do it. Increase taxes until they hamper spending. That means nobody has any money to do anything or buy anything other than basic necessities. Stuck at home, locked down. With nothing but liberal television to keep you company day and night.
To control the wild spending spree liberals have been on requires massive amounts of taxes. Now. The big problem is that setting tax rates and collecting the money from them are two different things. Companies that go bankrupt or leave the country don’t pay taxes. Neither do millionaires who move away. Workers who get laid off from those companies don’t pay taxes and do consume subsidies. Joe can slap down all the new taxes he wants but he’s never going to collect much more than he would collect without them.