Posted Feb 11, 2022 by Martin Armstrong
Remember two weeks ago when President Joe Biden called Fox News reporter Peter Doocy a “stupid son of a b****” for asking about inflation? “Will you take questions on inflation then?” Doocy asked. “Do you think inflation will be a political liability ahead of the midterms?” On a hot mic, the president replied, “No, it’s a great asset, more inflation. What a stupid son of a b****.” The president allegedly called Doocy to apologize.
The question does not seem “stupid” now after Thursday’s damning report on inflation. Looking back to last July, not long ago, Biden also downplayed inflation and dismissed the crisis entirely. A reporter asked, “At what point would you consider inflation unchecked…to the point that you would consider taking action?” Biden admitted he was not concerned about inflation. “There’s nobody suggesting there’s unchecked inflation on the way — no serious economist,” Biden concluded. Inflation is now at a 40-year high because it did indeed remain unchecked. Biden and his team were warned that reckless spending on new social programs, mandates, and other actions they took or failed to take would lead to inflation. The president of the United States does not understand the economy.