Musk & Diamon: Inflation Is Biden’s Waterloo

Who do you believe? Biden who insists economy never stronger as inflation eats it alive or Tesla’s Musk who’s laying off workers thanks to a “super bad feeling” & JP Morgan’s Diamon who expects economic “hurricane” that's being fed by Joe's hot air and printed money?

Fox News’ Maria Bartiromo leans toward the latter: “Elon Musk saying that he is going to be cutting 10% of the workforce at Tesla & putting a pause on new hiring … and Jamie Dimon saying consumers have about 6 to 9 weeks left of money in savings” are the latest disturbing signs that belie the destructive force our runaway inflation is posing to the post-pandemic US economy that, btw, doesn’t want (but may have to) throw in the towel. As Ms. Bartiromo reminds, the three biggest words in a nation’s economic health are “consumers, consumers, consumers”, i.e., it depends on how THEY spend & assuming they have money in their pockets to do you know what.

Could it be Joe Biden himself being the most worrisome as he keeps pushing wild GOVERNMENT spending policies in the apparent delusional hope printing more money (and putting it in consumers’ pockets as a stop-gap measure) will choke the inflation engine into a stall? Bernie Sanders might think so, but not Adam Smith. Still, citing the good yet red flagging May jobs report, Mr. Biden again triumphantly crowed “we are now in a position of strength to fight inflation.” Huh? Sorry, Mr. President. By definition, there can be no position of strength with rampant inflation exhausting your businesses & workers. It’s like saying Napoleon with an exhausted, dwindling army at Waterloo had a position of strength on that fateful battlefield as Wellington got fresh reinforcements every hour. We know where the French Emperor wound up.

Davd Soul