Zero Hedge: The fact that Democrats just can’t seem to grasp the basic laws of economics is both a tragedy for the nation and wonderful fodder if you run a podcast and a blog that capitalize on pointing out hypocrisy, ignorance and idiocy.
The latest installment in “Keynesians futilely attempting to understand such complex topics as supply and demand” comes from the Biden administration who, like a witless dog chasing its own tail, has helped create the problem of high oil prices and now can’t seem to figure out where to place the blame.
The “confusion” about why gas prices are so high might be warranted if Democrats hadn’t made a cornerstone of their political identity an incessant railing and bastardization of the oil and gas industry at almost every opportunity they get.
Meanwhile, most Democrats can still be found driving around in their gas powered vehicles, flying first class in gas powered jets and using plastic made from petroleum on a daily basis. Which reminds me: have you ordered your custom “AOC for President” reusable Starbucks cup yet?
Opinion: A contrast on 2 schools of economics:
John Maynard Keynes was a British economist who died in 1946. Keynes considered himself a socialist, although followers of Keynes today avoid that reference at all costs.
Keynes advocated for increased government spending and lower taxes to stimulate economy activity, especially during times of economic hardship.
Supply Side Economics: The Laffer Curve became one of the foundation stones of supply-side economics — the idea that tax cuts and deregulation power economic growth and job creation. Art Laffer/Ronald Reagan/Donald Trump:
(President Donald Trump shakes hands with economist Arthur Laffer after awarding him the Presidential Medal of Freedom, June 19, 2019)
Joe Biden wants to alter Keynes just a bit and raise taxes along with government regulations and spend/print and spend some more policies.
With a pen stroke, President Joe Biden cancels Keystone XL pipeline project
The newly inaugurated US president has issued an executive order to cancel the Canadian pipeline project approved by his predecessor. Joe Biden has said climate change will be a big focus of his presidency. read more
March 15, 2021
Biden Eyes First Major Tax Hike Since 1993 in Next Economic Plan
President Joe Biden is planning the first major federal tax hike since 1993 to help pay for the long-term economic program designed as a follow-up to his pandemic-relief bill, according to people familiar with the matter. read more
America’s low tax rate and new found energy independence that had been achieved under President Donald Trump is history.
That contrast between Donald Trump the supply sider, and Joe Biden the Keynesian could not be more opposite. The United States dollar as world reserve currency and the world’s lone superpower status hangs in the balance.
Where is the US in prophecy?