The Left Can’t Get Their Inflation Story Straight

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Unleash Prosperity Hotline
Issue #1023
05/21/2024
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1) The Left Can’t Get Their Inflation Story Straight
It’s been almost comical watching The Left contort themselves as they try to explain how Bidenomics took the inflation rate from 1.4% when Trump left office to 9.1% 18 months later.

Biden has sounded like an oaf by at least three times, claiming that he “inherited” a 9% inflation rate (sic).

The absurdity of that repeated lie forced the Democrats to scramble to explain that what they meant to say was that inflation was headed to 9% because of Trump’s policies. But that isn’t true because, as this chart shows, almost all of the top government and Wall Street economists predicted low inflation for 2021 or 2022.

This argument is doubly fatuous because after Biden dumped some $3 trillion of added spending/debt into the budget in 2021, he and a unison of his minions insisted over and over that this would NOT cause inflation to rise. The only notable exception was former Clinton economist Larry Summers. Mary Daly a Democrat who runs the San Francisco Fed dismissed inflation worries as “a tug of fear.”

The Washington Post insisted that “fear of inflation [from Biden policies] just seems like a psychic hangover from another era — the 1970s and 1980s.”

But here’s the biggest problem from the Biden attempt to rewrite history. If the Biden team truly believed that inflation was a Trump-ticking time bomb ready to detonate, the obvious remedy would have been to CUT government spending. Instead, they inflated the bubble of consumer demand by passing a cascade of supplemental trillion-dollar spending bills – and voila, 9% inflation.

Sometimes in life, the obvious explanation is the right one. If you are going to douse the economy with cheap money, you are going to wind up with the calamity of inflation. It’s called more money chasing fewer goods.

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2) Does Global Warming Cause Droughts or Floods?
Both actually – if the climate prophets are to be believed.

In 2022 the Western states experienced a drought that brought Lake Powell to its lowest level of water in decades. Climate change was said to be the culprit.

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Then this year we see this headline:

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Here is how the California Department of Water Resources explains this paradox:

Climate change is expected to result in more variable weather patterns throughout California. More variability can lead to longer and more severe droughts and floods, which present significant challenges to California water supply. Atmospheric river delivering water to California.

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We find ourselves in utter amazement that anyone takes these people seriously.

And if they are the antidote to yesterday's drought with empty reservoirs, then aren’t these high-water marks brought on by climate change a blessing, not a curse?

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3) “Climate Science” Is a Contradiction in Terms
Scientists are starting to rebel against the perversion of science by the powerful multi-hundred billion dollar climate industrial complex.

Ulf Buntgen of Cambridge University in England has written in the latest journal Nature that there is now an “ongoing pseudo-scientific chase for record-breaking heatwaves and associated hydroclimatic extremes”. He warns there is a danger that “the complex field of global climate (could) become a dogmatic ersatz religion for the wider public.”

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He cites many examples of how science has given way to politics.

A Guardian journalist helped get a science paper retracted from a major journal because it cast observational doubt on claims of a climate emergency.

Google banned an ad showing accurate satellite temperature on the grounds of “unreliable and harmful claims” of global readings.

The number of climate dissidents keeps growing despite the attempts to mute them. Dr. Matthew Wielicki, a geoscientist at the University of Alabama, left his position last year because he said that American universities, “are no longer places that embrace the freedom of exchanging ideas” and that they now “punish” climate dissenters.

Patrick Brown, formerly of Johns Hopkins University, wrote a searing piece entitled “I Left Out the Full Truth to Get My Climate Change Paper Published.” The subtitle is: “I just got published in Nature because I stuck to a narrative I knew the editors would like. That’s not the way science should work.”

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The climate change movement has become like the Flat Earth society of the Middle Ages that excoriated and banished anyone who dared tell the truth.

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4) Jobs Recovery Still Dominated by Red States
The April jobs data by state are out, and it's the same story again.

Eight mostly blue states and DC STILL have fewer jobs than before the lockdowns, while Idaho and Utah have gained more than 11%, Florida, Texas, and Nevada more than 9%.

Illinois and New York still haven't recovered and likely won't anytime soon; public policy has consequences:

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5) Another Great Chicago Innovation

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6) Inflation Hits Home

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