Wall Road, not the U. S. government under Joe Biden, is to blame for the historic inflation wreaking havoc within the economy, claims Rep. Alexandria Ocasio-Cortez (D-N. Y. ).
Within another display of her economic illiteracy, AOC contended that the rampant 40-year-high pumpiing is the result of “ corporate greed” and Wall Street, not U. S. federal government spending policies.
“ When we talk about problems like inflation, a lot of it has to do with the massive consolidation of our markets and business greed, ” Ocasio-Cortez claimed Friday on MSNBC.
“ Inflation is just not going up due to government insurance policies, inflation is going up due to Wall Street decisions, ” she asserted.
“ And the idea that they could just squeeze us for each penny that we’re really worth and we can also say that and acknowledge the fact that that’s affecting some communities more than others. And that is how I think we are able to emphasize this message. ”
The cause of pumpiing isn’t up for debate.
Contrary to AOC’s claim that inflation is caused by corporations arbitrarily raising costs, it’s a well-established economic proven fact that inflation is the result of rampant government spending policies assisted by the unlimited money-printing mechanism of the Federal Reserve main bank.
Since Nobel Prize-winning economist Milton Friedman once pointed out, inflation comes from government policy since the government can create money — not Wall Street or corporations.
“Inflation is made in Wa because only Washington can create money. ” – Milton Friedman pic. twitter. com/CZLiZ8Nmhk
— Mike Lee (@SenMikeLee) October 21, 2022
Though present inflation levels were most likely inevitable due to the Federal Reserve’s decade-long zero interest rate plus quantitative easing policy adopting the 2008 recession, the creation of $5 trillion into the money supply out of nothing during COVID greatly exacerbated the inflation rate.
Though the Federal Reserve is incrementally raising interest rates, the government is still continuing to invest more than it takes in, especially as a result of the Biden regime constantly sending billions of dollars the U. S. doesn’t have to Ukraine .
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