Biden's chief economic advisor says the government can't go bankrupt bc they can always just print more money

[mudwhistle]

Sorry bout that,

1. We are screwed.

Regards,
SirJamesofTexas

 

[MisterBeale]

Wait a minute... is this Deep fake?
This can't possibly be real. If it is - Dear God in heaven... not even the most devoted Bidenbot can defend this.
Is this real?

Good call.

Good call.

 

[ColonelAngus]

He seems unfamiliar with the supply/demand curve.

As we increase supply of money, any portion of that money loses value.

That holds true for anything. From gold to cat.

Lets just print 34 bills that are each one trillion dollars and then pay off the debt.

Yea…its the same of we print 34 trillion one dollar bills.

He is lying. They know their voters are so fucking retarded, they might buy it

If you believe this guy, you believe a $500/hour minimum wage would result in EVERYONE driving a Lambo and living in a mansion.

It is a preschool fiscal mentality.

 

[StatesRightsForever]

"In February 2023, President Joe Biden nominated Bernstein to serve as Chair of the Council of Economic Advisers despite not having a formal background in economics. Bernstein graduated with a bachelor's degree in music from the Manhattan School of Music . He also earned a Master of Social Work from Hunter College ."

Jared Bernstein - Wikipedia

en.wikipedia.org

 

[pknopp]

Those with a background in economics seem to know very little about economics so let's give this a try.

 

[1srelluc]

WTF is a Master of Social Work?

 

[skye]

Banana Republic.

 

[White 6]

Jared Bernstein - Wikipedia

en.wikipedia.org

Hmmmm. A music major. Lets see:
Inflation lowered from over 7, two year ago to 3.5. Check
Employment way up and steady adding jobs, 15.2 Million nearly 6 million more than before pandemic. Check
Number of people on food stamp reduced by 1 million. Check
Record GDP, economy expanding every year under this administration. Check
Very low unemployment. Record lower and longer than any other administration. Check
Record set on the New York Stock Exchange. Check
S&P 500 increased 32.9%. Check
Crude oil production up 14.2% setting highest in history. Check

Hmmm. Listen to the music. I am willing to let the beat go on.

 

[excalibur]

Hmmmm. A music major. Lets see:
Inflation lowered from over 7, two year ago to 3.5. Check
Employment way up and steady adding jobs, 15.2 Million nearly 6 million more than before pandemic. Check
Number of people on food stamp reduced by 1 million. Check
Record GDP, economy expanding every year under this administration. Check
Very low unemployment. Record lower and longer than any other administration. Check
Record set on the New York Stock Exchange. Check
S&P 500 increased 32.9%. Check
Crude oil production up 14.2% setting highest in history. Check

Hmmm. Listen to the music. I am willing to let the beat go on.

You really did drink the Kool-Aid.

Jobs since January 2023 are part-time, prior to that just jobs returning after COVID.

Crude production is owing to Trump policies, as keeps messing with future production with any number of dumb policies.

Etc., etc., etc.

 

[Failzero]

Marxists make Lawyers Farmers and Farmers Lawyers

 

[progressive hunter]

Those with a background in economics seem to know very little about economics so let's give this a try.

we are 3 yrs in and he hasnt shown competence,,

 

[pknopp]

we are 3 yrs in and he hasnt shown competence,,

So he is pretty much the same as the rest and the type of degree doesn't matter.

 

[SassyIrishLass]

Hmmmm. A music major. Lets see:
Inflation lowered from over 7, two year ago to 3.5. Check
Employment way up and steady adding jobs, 15.2 Million nearly 6 million more than before pandemic. Check
Number of people on food stamp reduced by 1 million. Check
Record GDP, economy expanding every year under this administration. Check
Very low unemployment. Record lower and longer than any other administration. Check
Record set on the New York Stock Exchange. Check
S&P 500 increased 32.9%. Check
Crude oil production up 14.2% setting highest in history. Check

Hmmm. Listen to the music. I am willing to let the beat go on.

Then why are people hurting in this fantastic economy? Peel back the layers and actually realize what's going on

 

[excalibur]

All "jobs" added in the past year have been part-time workers

When you actually look inside the jobs numbers, hey aren't good news at all. Just some numbers thrown out by Biden's BLS. But look deeper and you will see things like this.

www.usmessageboard.com

The Cold Reality of Bidenomics And The Jobs Market: Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 (All New Jobs Over ...

So, more Biden lies and trickery. More malfeasance by the MSM. What good is the MSM? It is useless, they are nothing but propagandists for Biden and the Democrats. The Cold Reality of Bidenomics And The Jobs Market: Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 (All...

www.usmessageboard.com

 

[progressive hunter]

So he is pretty much the same as the rest and the type of degree doesn't matter.

as long as we ignore rocketing inflation and high gas prices that didnt exist before he came on board,,

 

[IM2]

More disingenuous Republican babbling.

 

[Failzero]

More disingenuous Republican babbling.

Another AI / LibBot Reply

 

[para bellum]

Oh this guy sounds great,​

​

Dialogue with MMT​

In 2018, Bernstein opened a public dialogue with the proponents Modern Monetary Theory (MMT), a branch of economics that is outside the mainstream.[21] Bill Mitchell, a proponent of MMT, was the first to respond.

Modern monetary theory or modern money theory (MMT) is a macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires.[1][2] MMT is outside the mainstream of economic thought.[3]According to MMT, governments do not need to worry about accumulating debt in and of itself since they create new money by using fiscal policy in order to pay interest. MMT argues that the primary risk once the economy reaches full employment is inflation, which acts as the only constraint on spending. MMT also argues that inflation can be addressed by increasing taxes on everyone to reduce the spending capacity of the private sector.

 

[whitehall]

His (gay) transportation secretary never delt with anything bigger than a pot hole as a mayor of a semi-big city.

 

[Failzero]

His (gay) transportation secretary never delt with anything bigger than a pot hole as a mayor of a semi-big city.

Like giving the Mayor of Redding Ca. a Cabinet Post