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Biscuit (Noun) : A person who is willfully ignorant and almost certainly incompetent

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Education Tuesday

Carl Icahn is just that – an icon. The billionaire investor came on CNBC yesterday to talk about a lot of things we talk about here on the blog, the Democrat’s spending habits, the policies that have led to terrible inflation (which we were told would subside, how’s things looking at your local gas pump anyway?), and the national debt crisis. I’ve said this once, and Icahn agrees – it is foolish to try and tell exactly when we will hit the wall but with the way we are going – but eventually we will.

“In the long run, we are certainly going to hit the wall,” he said. “I really think there will be a crisis the way we are going, the way we’re printing up money, the way we are going into inflation. If you look around you, you see inflation all around you, and I don’t know how you deal with that in the long term.”

The outbreak of COVID-19 in the US last year prompted two White House administrations and the country’s central bank to pump trillions of dollars into the financial system. And lawmakers have passed at least $5 trillion in federal aid such as stimulus checks sent to Americans to help keep households afloat.

The boom in money supply has fed into a surge in inflation that has sent consumer and wholesale prices to multiyear highs. Supply-chain bottlenecks and labor shortages have also contributed to such pressures. The consumer price index in September went up 5.3% and wholesale inflation shot up to 8.6%.

Most Americans at this point are tired of the spending – the 3.5 trillion dollar plan that Democrats were celebrating a few months ago now seems to be nowhere close to passing. As I told you at the time it would not. Let’s pray it doesn’t, because it could very well be the catalyst that drops a wall of bricks in front of our speeding car.

1 thought on “Education Tuesday”

  1. Thomas “Pops” Petty

    Congress has placed us in an ALREADY unsustainable position. If a household had the type of debt to income ratio our country presently has, they’d be rated “a bad risk.”

    We must reign in spending, immediately. Otherwise, the “New” American Dream will be learning to catch a rat to eat.

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