Yellen’s Fantasia For Cryin Out Loud

The WSJ’s editors took Treasury Sec Janet Yellen to task for her “fantasy economy” based on delusional “Bidenomics” that, in Mickey Mouse fashion, “ignores inflation and falling real wages”…

The editors tried to be nice in conceding Joe’s money manager is a “distinguished economist.” Then came the hammer: “BUT her tenure as Treasury Secretary hasn’t enhanced her reputation. Her lack of influence with Pres Biden has meant she couldn’t stop bad policy (student-loan cancellation) & now the WH is rolling her out in election season to portray the US economy as a Valhalla of growth, fairness & optimism. It's not believable even if you drive a Tesla & live in Montecito.”

The WSJ said it “lacks the space to cover all of Ms. Yellen’s whoppers,” then spent 8 long paragraphs covering most of her s**t burgers. They include insisting Putin & foreign enemies are the key cause of inflation rather than the boss’s war on fossil fuels & obscene government spending; pushing for renewed investment growth by contradictory higher taxes & regulation; pretending the economy that has contracted for two quarters in a row is really in great shape rather than in recession; and insisting the Biden economy has fostered higher pay equality when the opposite is true, i.e., “before the pandemic, inequality was falling as wages rose faster for low-income workers than they did for the affluent amid healthy growth.” Well, Joe’s brain trust can’t always get it right, now can it?

Davd Soul