Why doesn't Yellen understand economics?

[Juxtapose]

She's advocating for inflation straight up. You can't just keep printing money and spend your way out of this.

Updates

+1 y

I personally think these high level officials are setting us up to fail so they can sell us the great reset.

[Curmudgeon]

Sadly, she DOES understand economics. There are certain interests who GAIN from monetary inflation and currency devaluation, against the interests of American middle class savers. She is on the other side, against you and me. That is what is going on. Your video of Senator Kennedy (Louisiana today, not the deceased ones of the 20th century) is wonderful calling her out, but sadly there are too many sinister forces who WANT what is happening to happen.

[Avicenna]

MHO right here

[Flatmanlewis]

She does. Once life gets too expensive they can blame corporate greed (which is not the case) and pledge that the sacred government will HAVE to step in to save people. They will flood the media with heart-string tugging stories of people who ‘fell’ into poverty and have been priced out of life. Then, miraculously, the government will subsidize our life and - BOOM - Communism.

[GoodGuyBreakingBad]

Impeach her now wow

[nonyabeez-wax]

Remove "Honorable"- she is not.

This is malicious advocating for a raise in the cost of living though artificial inflation by method of mandating the federal minimum wage be increased to an unsustainable level. Only to repeat the process a few years after, leading to an economic crash.

What's California on now? They went to $15/hour, now their advocating for $30/hr? When does it stop? $100k/hr?

You cannot advocate for companies to pay more, without expecting to see the prices of those companies goods and services to cost more.

The more things cost, the less you can save, the less you can save, the more you want your pay to increase, the more your pay increases the more things cost, the more things cost, the less you can save.

Its a never ending cycle caused by forcing a company to pay more than it can either afford, or is willing too.

If the workers negotiate their own raises, and the company agrees to that, then the company likely can already afford that raise or has budgeted for it.

If the government comes in and says " fuck your budget, you pay your entry level workers x amount across the board"- then companies will have to raise prices to maintain either their profit margin, or to stay afloat, as many small businesses will just stop being able to pay their workers.

I would say this is, if malicious, treasonous at worst. If incompetence, fireable at best.

She understands it, being the United States Treasurer, therefore she must be malicious, and just as treasonous as the rest of the Biden administration.

[Juxtapose]

The thing about minimum wage is it almost never comes close to keeping up with productivity and inflation. The average worker has been screwed hard and dry.

[nonyabeez-wax]

That may be true, but thats why the solution is to aim to reduce inflation, most of which is artificial caused by government overly regulating.

You reduce the cost of living, then eventually you can even lower the minimum wage.

We've been tackling this problem from the wrong end.

[nonyabeez-wax]

Response to the update: I agree.

@Juxtapose

[lightbulb27]

she watched too much beavis and butt head years back?

She's right about some but these people are shifty. the Govt is spending more than we produce, the create the difference out of thin air and that feeds inflation. been building long time. now we have accumulated debt to boot. bidenomics not only cause, but some of it... e. g. oil policy.

The fed simply plays the fiddle to the tune of govt spending and manages the disasters ( bailouts, bank failures, financial contageons, locked up markets, gold price management) to ensure stability and increase in theft of 2%+, except it's way more than that. Only way to get it is steal it, couldn't tax it. That's inflation. The rest is cover story for the above.

All I ask is they charge her $12 for the bottle of water and require her to redeem it for $.05. that's fair. Also, give her a paddling as she leaves just for the fun of it... maybe then she'll speak truth.

[GuyAnswersGirls123]

Admittedly monetary policy goes way over my head and the general idea of the reserve bank trying to meddle with the economy to smooth out business cycles by deliberating adjusting desirable inflation vs. desirable unemployment always put me at unease.

From what little I can understand so far as a layman to economics, such meddlesome tampering with the economy from a central authority always seems to veer towards economic decline.

[BCA6010]

Because she and her ilk are doing it deliberately. Wrecking the country to get people begging for "the great reset" is the goal.

She's yet another Obama holdover by the way. They were garbage then, and they're garbage now.

[Telekinetic-Potato]

Get ready, full on communism should only be 10-15 years away.

Personally, I'm thinking about Africa, maybe a nice island.

[docster]

Just like the rest of the Democrats: Ideology first, America last.

[OddBeMe]

There’s a reason why Repub idiots with that accent will keep questioning economic exerts. Because they want to get on Fox News.

Yellen is actually correct. Per economic theory, prices of goods have to rise as well as higher taxation on the rich to combat inflation. She’s been keeping in the lower single digits for the last several years.

Caused by Trumps complete lack of pandemic planning. That caused the inflation.

[OtterMan68]

check how much money was printed in 2020. Check gov spending from 2016 through 2020. Been spending and printing for years

[Curmudgeon]

But what "Build Back Better" and "The Green New Deal" have done, like Obamacare and programs like "Cash for Clunkers" did, was and is even more insidious.

Yes, everybody getting COVID checks put more money chasing after the same or fewer retail goods, which was certainly detrimental.

However, the Biden Administration programs (and the Obama Administration programs before that) gave (and still give) money to politically favored industries, industries that drove up (and again are now driving up) the prices of wholesale raw materials and supplies. This will cause something worse than just the COVID price spikes on retail goods, but a wave of inflation to cascade throughout the whole economy.

[OtterMan68]

@Curmudgeon check gov spending PRIOR to covid. Trump and his GOP congresses were freely spending money. Trump never vetoed one single budget
www.self.inc/.../us-national-debt.jpg

[Curmudgeon]

Well, for half of his term, they were NOT a GOP Congress.

[OtterMan68]

@Curmudgeon and did he veto any budgets?

[Snakeyes7]

Not surprising to see this since she is the head of the mafia's extortion department.

[exitseven]

hvent you heard that the inflation is transitory?

[shortster]

High prices is part of the plan that we will own nothing. And they claim we will be happy for it.

[normalice]

Oh, clearly she does considering the astonishing recovery we made after trumps disasters.

[AngryCarl]

She's a Keynesian like everyone else at the Fed. Keynesian economics was debunked long ago.

[Dargil]

She doesn't need to. She has the job because she has a vagina.

[Wise4myage]

She's as stupid and clueless and Joe Biden.

[Wise4myage]

*As Joe Biden.