1. You can name a bill whatever you want 2. It does have the net effect of reducing inflation. See #3. 3. Larry Summers is an ass, but he's not wrong here. barfo
This bill increases the amount of revenues the government will receive, and at a far higher level than the outlay in spending. Any time the government takes money out of the economy through taxation more than it is spending on other items has the net result of being deflationary as there is now less capital out there in the world that is available to be spent on the same quantity of goods.
Apparently Biden and Xi will be meeting in mid-November during a Group of 20 summit. I doubt that would be scheduled if there was any chance China was going to do anything like invade Taiwan. Xi is visiting Saudi Arabia next week. Would hate to be in the press pool for that event, good chance of being poisoned.
He isn't wrong - but he's mostly making strawman arguments. The title of the bill isn't "The Complete And Permanent End Of Inflation Act". I'll grant his point that it will have a relatively small effect on inflation - but I'll also grant Summers' point that it will be in the right direction. barfo
You should sue for wrongful bill-naming, then. It may have caused you emotional injury and mental anguish, trauma, an inability to form close relationships, and nightmares. barfo
Biden frontrunner for ‘Lie of the Year’ award as many in media look the other way https://www.msn.com/en-us/news/poli...A10EtYI?cvid=321d8c8d45884faeb63977f3c3a23ef8 This part shows the blatant media bias in American media nowadays.
It does show media bias towards incredibly stupid takes. Biden very clearly said - and is quoted at the beginning of the article! - as saying “I just want to say a number: zero. Today, we received news that our economy had zero inflation in the month of July. Zero percent. Here’s what that means: While the price of some things go up — went up last month, the price of other things went down by the same amount. The result? Zero inflation last month.” And yet somehow the article claims that's the 'lie of the year' because inflation over the past year isn't zero. Also, the author is wrong about the definition of a recession. It never has been 2 quarters of negative growth. That's just the definition that lazy or impatient "media" use. barfo
