Steven Rattner published an essay in The New York Times titled “People Are Pessimistic About Their Economic Futures. Can You Blame Them?” Anyone who watches Morning Joe on MSNBC will know about Rattner’s charts. Even though he served as counselor to the Treasury secretary in the Obama administration, I sometimes sour on his early analysis of the causes of inflation, which he attributed to Biden’s American Rescue Plan (aka COVID-19 Stimulus Package) and Infrastructure Investment and Jobs Act. When inflation was at its highest, Rattner essentially blamed Biden’s legislation for pumping too much money into the economy. I think that was wrongheaded. Clearly, inflation during COVID was a supply issue, and it is starting to be revealed that some companies engaged in price gouging — classic American capitalism opportunism that morons of America promptly blame on Biden. And any stimulus package passed was to help people stay afloat; it was not “flooding” the economy with more money than could be absorbed. As for the Infrastructure Investment and Jobs Act, Rattner blamed Biden as being inflationary. The ink had hardly dried on the legislation before Rattner linked it to inflation. Does idiot Rattner realize there is a long lag time between legislation becoming law and actually getting funding out the door? It’s not like the law becomes enacted on day one, and money for projects starts rushing out of the treasury on day two, but Rattner would have you believe that is the case. It is perhaps only now — years later — that funds for all these projects have been fully (or are being fully) realized in the economy. And where is inflation now? Three or four percent? Hardly the eight and nine percent a couple of years ago. Of course, you no longer hear Rattner blaming Biden’s legislation accomplishments.
Although, he makes a passing comment about Biden’s legislation still being inflationary in his article. Yet, he surprisingly thinks idiot Americans actually understand a link (that does not exist as strongly as he would like us to believe) when he says, “Maybe [the failure of “Bidenomics” to resonate with people] shouldn’t be surprising. Voters may have internalized the fact that Mr. Biden’s initial policy agenda included substantial increases in government spending, a potential source of inflationary pressure [emphasis added].” Hilarious! Americans have “internalized” the impacts of Biden’s legislative accomplishes to inflation. I promise you that moronic Americas have internalized nothing much less apprehend economic theory. Their reactions to inflation are purely Pavlovian. Indeed, people are still spending like it’s 1999. Morons are more upset that the economy hasn’t returned to pre-pandemic levels, which is never going to happen, for COVID has fundamentally changed the global economy. People are mad about that and blame Biden. It’s really that simple, requiring very little thoughtful analysis — you know, the same level of “sophisticated” thought the average American idiot utilizes. Can’t undo the Stupid that is America!