Raised Interest Rates: Robert Reich Doesn't Understand Inflation

There's been the recent news surrounding the raised interest rates and as was requested to check out and respond on Robert Reich's take, it really doesn't surprise me that he hasn't got the slightest clue about what the solution the problem of inflation is, but also has no clue what inflation is.Show more

Robert Reich thinks it's a case that wealth is increased consumer spending, like all socialists, they don't understand that spending what you don't have and pushing yourself into soaring debt never solves a problem and is why we ended up in this mess to begin with.

The reckless borrowing and spending to pay for all the social security and welfare programs, etc, has more or less caught up on people. Like I argue, there's only so much you'll get away with borrowing out of thin air for what didn't exist in the first place. As I've touched upon, the lockdowns merely accelerated the recession and has been long coming because of the reckless Keynesians.

Keynesians much like Marxists really don't like being told that we must live within our means, which is the reason Robert Reich hates the thought of raised interest rates. I've touched upon before in the past on the banking crisis of 2008 for why the artificial fixing lower of the interest rates caused the boom and bust cycle, all Robert Reich would do is exacerbate the crisis, after all, the more spending will come from the continual running of the printing press.

These are the same people on CNN who would wish for universal healthcare, they would essentially bankrupt the nation, which is quite convenient the likes of Reich claim to protect the poor.

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