Bidenomics in One Lesson

Economics
#1

Bidenomics in One Lesson

This clown Jared Bernstein is the Chairman of Biden’s Council of Economic Advisors since last July. He was a council member before being elevated to Chairman. His training is in music and social work.

He sounds like the Kamala H. of Economics. Or should I say, the Ka-Malaise of Economics, or the Ka-Malady of Economics. He also reminds me of the comical Lieutenant Frank Drebin of Police Squad and Naked Gun fame (played expertly by Leslie Nielsen).

Jared Bernstein: “The US government can’t go bankrupt because we can print our own money.”

Stephanie Kelton: “It obviously begs the question, Why exactly are we borrowing in a currency that we print ourselves? I’m waiting for someone to stand up and say, Why do we borrow our own currency in the first place?”

Kelton to Bernstein: “Like you said, they print the dollar, so why, why does the government even borrow?”

Bernstein: “Well, um… the… uh… so the… I mean… again, some of this stuff gets… some of the language that the MM… some of the language and concepts are just confusing. I mean, the government definitely prints money and it definitely lends that money. Which is why, uh… uh… the government definitely prints money and then it lends that money by uh… by selling bonds. Is that what they do? They… they… um… they… yeah… they… they… um… they sell bonds. Yeah. They sell bonds, right? Since they sell bonds and people buy the bonds and lend them the money. Yeah. So, a lot of times, a lot of times, at least to my ear with, with MMT*, the language and the concepts can be kind of unnecessarily confusing, but there is no question that the government prints money and then it uses that money to um… uh… eh… uh… so… um… yeah… I… I… I guess I’m just… I don’t… I can’t really ta- I don’t… I don’t get it. I don’t know what they’re talking about, like… cuz… it’s like, the government clearly prints money. It does it all the time, and it clearly borrows. Otherwise we wouldn’t be having this in… this conversation. I don’t think there’s anything confusing there."

*Modern Monetary Theory

White House Economist Babbles in Cringe Interview - Boing Boing

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#2

Yes, that was so stunningly stupid, it’s amazing that clip was ever allowed to see the light of day!
But if you got him, Biden, and Kamala in a room together to discuss what he just said, what was already “clear as mud” would turn into a solid brick of unmitigated stupidity.

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#3

You can’t make this up.

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#4

“You can’t make this up.” (?) Except, in this case, they really might have. Last night, I commented on a response to the post of this I made in Atheists for Liberty: “I suspect this is intentional demoralization - throwing up this clown in our face as the Chairman of Biden’s Council of Economic Advisors (?), and his clownish performance. File it under You Can’t Possibly Make This Shit Up.” It’s inspired by Naked Gun’s lieutenant Frank Drebin, the ultimate fvch up. They’re displaying their power to fvch us up with impunity, without care of consequence. Which is why there have to be consequences - and will be, of one kind or another, depending on how this goes in the next few years.

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#5

Maybe so, but, as you say, there will be consequences. I think of not very many good ones. We’ll know more in a few months.

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#6

At first that idea that this is intentional demoralization seems far fetched - why would they want Biden to look worse than he already does before the election?
But then, of course, you realize - the intentional demoralization has been ongoing for years, along with intentional destabilization. We’re already in an intentionally created Bizzaro World, so it’s not far fetched at all.
They stole the last election, plan to steal the next, are well on their way to destroying the economy, and expect to have Trump in prison soon.
They’re already staging the next round of riots, and there will likely be another deadly virus outbreak, a “climate emergency”, and a major cyber and/or terrorist attack between now and November.
So yes, why not put the icing on the cake and mock us without fear of consequence?

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