VIDEO: Byron Donalds PERFECTLY Explains Our Economic Woes
This goes just two minutes and 20 seconds, and it’s probably the most spot-on thing you’ll see all week. This is Rep. Byron Donalds, who is a Republican from Florida and an absolute worst nightmare for the Democrat Party for reasons which will be obvious to you before he even starts talking, absolutely nailing the current situation with a blazing inferno of truth from his lips.
Here it is, then we’ll have a little commentary below…
This is a message that needs to be on TV in every media market across the country, and if I was running a congressional candidate as a consultant I’d have them in front of a camera giving the 30-second condensed version and that would be all I’d need for ads. It’s incredibly simple and it’s intuitive, and everybody gets it when you explain it this way…
- Prices are a form of information which describe the balance between the supply (availability) of goods and demand for them;
- The supply of goods is going to depend on the volume of them which is being produced;
- Production is going to depend on materials and labor;
- Public policy has been injurious to both of those components, whether through things like the war on domestic energy, regulatory burdens and so forth that affect the procurement of materials, and the disincentive for people to work because of the free money the government has been giving out;
- Therefore you see a shortage of goods and that starts prices rising;
- Rather than change policy to enable more production, which producers would do because they could now get a good price for their wares, Team Biden then spent money we don’t have (which debases the currency) on more free stuff for people;
- Paying people not to work makes things doubly worse, because now not only aren’t they helping to produce the goods the economy needs, they’ve got extra money to spend, which chases shortages; and
- Finally, since the government won’t change policy to increase supply in the economy and thus bring prices down, the only way for the Federal Reserve to fight inflation is to tighten the availability of money by hiking interest rates
Donalds walks the witnesses through most of that pretty expertly in his questioning, and it’s important that he does.
The thing about getting this message out is that, yes, it’s Econ 101, but Joe Six Pack who doesn’t think about this stuff will immediately get it because it’s simple once it’s laid out.
Inflation really is a pretty simple concept once you’ve got the basics down. The liars in the legacy corporate media are hard at work trying to muddy the waters with extraneous garbage to excuse Team Biden from their responsibility for where we are.
Is COVID to blame for some of this? Sure. You were going to have supply chain disruptions from the stupid lockdowns all over the world. You would still have those problems because China, where far too many of the manufactured goods we buy are made, is still locking down. Smart American policy would have responded to COVID by making drastic changes in that reality, whether through tax breaks for domestic manufacturing or tariffs or whatever other levers were possible in order to onshore a whole bunch of manufacturing and move as much as possible of the rest to places like India, the Philippines, Brazil and so forth.
But we aren’t getting smart American policy, whether because we have economic illiterates in charge of the government or because The Big Guy got his 10 percent, or both. He’s continuing to hamstring production in this economy, and this idiocy is being sold as virtuous Because Carbon.
Later this year when there are legitimate food shortages in America for the first time since World War II, we’ll see how much of a pass Team Biden gets from the voters.
In the meantime, though, here’s hoping we see a whole lot of Donalds’ colleagues picking up on his excellent economics lesson. It’s perhaps the best argument for getting rid of as many moronic Democrats in the midterms as possible. After all, they’ve voted for all the bad policies causing the current suffering; they should damn well pay the price for it.
