Chairman of Forbes Media, Steve Forbes joins the Mark Reardon Show to discuss his latest book, "Inflation: What Is It, Why It's Bad, and How to Fix It." with Mark Reardon.
“I think it's a feeling of people, one they see the price is going up but also they don't trust the man for a president to say with a straight face. For example Vladimir Putin's cause of all your woes. He's the inflation man. Well Vladimir Putin, whatever you make, they make him sound like a superman, oh he can wreck the American economy. Well he can't fight a war but he can wreck the American economy. People know our problems started before Putin invaded Ukraine,” Forbes commented on how the Biden Administration has handled inflation.
Forbes explained the two types of inflation, “One is non monetary inflation, what you get when you have bad weather, which can affect prices, or these covid lockdowns, which disrupted supply chains. And then you have the money kind of inflation we're getting where you undermine the value of the dollar. And right now we're getting both kinds normally after a non monetary inflation. If you leave the economy alone, it begins to heal itself as it did after World War Two, when we adjusted from a wartime to peacetime economy, prices rose. But the couple of years it all sorted itself out. But this administration, amazingly, seems to go out of its way to make the recovery slower and worse waging war against energy. Biden says he loves infrastructure, yet his White House puts in rolls the other day, they're gonna lay infrastructure projects for months, if not years with thousands of pages of new things they have to do.”
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