Even the U.S. Federal Reserve thinks Alexandria Ocasio-Cortez needs to cool it with all the money-printing schemes.
“An increasingly popular theory espoused by progressives that the government can continue to borrow to fund social programs such as Medicare for everyone, free college tuition and a conversion to renewable energy in the next decade is unworkable, Federal Reserve Chairman Jerome Powell said Tuesday.”
Why is the mainstream media discussing this like using the Federal Reserve to monetize the U.F.G.’s spending was Alexandria Ocasio-Cortez’s idea or something?
An “increasingly popular theory?”
Did a millennial write this?
Who’s Jeff Cox?
No Jeff! I Googled you. You’re 42 bro!
Buddy, you know Nancy Pelosi has been borrowing money from the Federal Reserve to fund socialist programs since before Alexandria Ocasio-Cortez was a twinkle in her daddy’s eye.
Have you just now started following along?
The Federal Reserve has been playing this game since December 23, 1913.
“The idea that deficits don’t matter for countries that can borrow in their own currency I think is just wrong,” Federal Reserve Chair Jerome Powell said in Senate testimony. CNBC reports like it’s a new idea:
“The notion behind what is called ‘Modern Monetary Theory,’ or MMT, is that as long as the Fed can keep interest rates low without sparking inflation, the national debt and budget deficit won’t be an issue. MMT has been espoused by politicians including Rep. Alexandria Ocasio-Cortez, D-N.Y., and Democratic presidential candidate Sen. Bernie Sanders of Vermont.”
Modern Monetary Theory?
What are they talking about?
Are these guys Alexandria Ocasio-Cortez and Bernie Sanders seriously trying to take credit for coming up with the idea that running up the national debt doesn’t matter?
Who the H-E double toothpicks do these C-list, amateur-hour socialists think they are?
The real most epic socialists from U.S. history are:
Donald J. Trump, Barack H. Obama, and George W. Bush, and the work of the likes of Mitch McConnell, Paul Ryan, Chuck Schumer, Nancy Pelosi, Harry Reid – all of those charlatans who redistributed trillions and trillions of dollars through government bureaus.
Those guys have been growing federal budgets and borrowing a relentless flood of money from the Federal Reserve’s tireless dollar press precisely like people who believe:
“…as long as the Fed can keep interest rates low without sparking inflation, the national debt and budget deficit won’t be an issue.”
American money is green. And when the Green New Deal causes hyperinflation, you will start seeing a lot more of those green notes everywhere. Like way more. Like $93 trillion more.
Maybe even wheelbarrows full of it – just to pay for the week’s groceries. But as in Venezuela and other places where hyperinflation has happened, none of us will be any richer.
Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.com.
Alexandria Ocasio-Cortez Image from REUTERS / Joshua Roberts
Last modified: July 2, 2020 8:16 PM UTC