FOX Business host calls out Nancy Pelosi's inflation analysis on Monday's 'Kudlow.'
Save America, kill. Why? Because the 7.5% inflation tax is destroying working folks' pocketbooks and devaluing the wages they earn and the root cause of the inflation is way too much government spending, too many social programs without workfare, and vastly too much money creation by the Federal Reserve.
I quote: "The fact that people have jobs always contributes to an increase in inflation. And that's a good thing," Pelosi said, "but inflation is not good, you know, we have to contain it." More people working is unambiguously good for America and more people working never causes inflation. Inflation is too much money chasing too few goods. The more people who work means more people are producing goods.
That's the supply side of the economy and more goods chasing the same amount of money would reduce prices and lower inflation. Right now, working folks are demanding higher wages because they're trying to keep up with higher prices. It’s a price-wage spiral and who can blame them?
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