Front Page Magazine posted an article today about the recent White House celebration of the passage of the Inflation Reduction Act. James Taylor sang, and everyone present celebrated the coming end of inflation.
The article reports:
Biden threw a party to celebrate the Inflation Reduction Act on the White House South Lawn even as the latest figures showed that core inflation has continued to rise. Grocery prices had the steepest increase since 1979. Rent prices shot up again and medical costs are escalating.
Even the most loyal media lapdogs could hardly stand this festival of lies. CNN cut away from Biden’s masque of red ink to show what was happening to the stock market. Reuters acidly headlined its coverage, “Biden celebrates ‘Inflation Reduction Act’ as food, rent prices climb”.
So what’s there to celebrate?
The Inflation Reduction Act is a lie. It doesn’t reduce inflation: it actually gooses it. The IRA is another inflationary leftist spending boondoggle that throws billions at green energy and $80 billion at the IRS to audit the middle class in the hopes of balancing out some of the crony cash.
The article notes the real intention of the Inflation Reduction Act:
The Biden administration isn’t fighting inflation, it’s deliberately increasing it even as its cronies in the Federal Reserve hammer home new interest rate hikes to force the economy into a recession. This two-step dance destroys savings, wrecks investments and allows for a massive wealth transfer to Democrat donors, special interests and voters. The more that the Democrat majority spends, the worse inflation gets and the more justification there is for higher rates.
If a recession arrives, there’ll be even more justification for government wealth transfers.
The transfer of wealth actually began during the Covid pandemic. Small businesses were forced to close while big box stores remained open. Amazon became the place to shop for people who were fearful of leaving their homes. Walmart remained open while the local clothing stores closed. In California, restaurants were forced to close while Hollywood created their own restaurants on movie sets. Churches closed while liquor store remained open. The transfer of wealth has been happening for a while.
The article concludes:
While inflation is a useful tool, it’s not the only one. The EPA, CDC, FDA, USDA and numerous government agencies with virtually unchecked regulatory powers can dramatically change product availability and price at the macro level leading to demands for further interventions.
COVID lockdowns were the patient zero of this new economy. Seemingly irrational and unjust measures shut down small businesses while allowing Amazon and major retailers to roll on. But there was nothing irrational about it. This was a deliberate strategy to further consolidate the retail sector, concentrating the pain among small businesses before offering them temporary subsidies, and narrowing the retail pipeline to put it even further under government control.Labor disputes in rail lines and UPS allow Democrat unions to shut down the supply chain.
But as they used to say on television, “This was only a test.” Socialism, on a much broader scale than we’ve seen it, is being tested. As destructive as these tests were, that’s still what they are. Anyone living under actual socialism can tell you that it can get much worse. And will.
When that happens, Biden will throw an even bigger party. And we’ll be the ones paying for it.