NEW: Biden economic advisor Jared Bernstein turns into bumbling mess after he's asked why the government borrows money if they can just keep printing it.
We are so screwed.
Question: They print the dollar. So why does the government even borrow?
Bernstein: Well, so the, I mean… pic.twitter.com/CrOUvYGaul
— Collin Rugg (@CollinRugg) May 3, 2024
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It’s hard for most people to spot someone telling a lie. We want to give people the benefit of the doubt, so we will default to thinking that they’re just inarticulate or stupid.
This is someone caught in a lie. He didn’t anticipate anyone asking such a simple, honest question and so his programming glitches and he is left scrambling to come up with something plausible on the fly, he winds up sounding like he doesn’t know anything about monetary policy.
I don’t know , you take people who don’t understand that the guardrails of reality are not mutable or where they are , how smart can they be ? They certainly know how to pour on the BS and put on convincing performances .
Maybe all the world really is either a stage or a used car lot ,hell I don’t know .
“They certainly know how to pour on the BS and put on convincing performances.”
So then I wonder why he failed so miserably?
Cuz like me you are sales resistant .
Gotcha!
In the old comedy movies of the late seventies the guy after that rambling answer would have got up and gone crashing out the of the back ground office window. And we would have laughed.
Bernstein is a lawyer. No Econ background. He’s been lying his ass off pretending to be an Econ guy since at least the first Obunghole term. Makes no sense unless the intent is to replace economic analysis with bafflegab to prevent the public from viewing the thieving.
How ANYONE can give you a thumbs down on this simply boggles my mind!
Bots, I guess?
Well, thanks for clearing that up for us plebes.
Hardscrabble is an optimist.
’tis true.
Mickey Kaus as Secretary of Education in Idiocracy (youtube.com)
Time to put the notion that KIKES are super smart on the trash heap where it belongs.
at least he cleared it up in the end with ” i dont think there is any confusion there” contemptible liar!!!!!
Wow, way to confuse us all. He could have just said , ” printing machine goes BRRRRRRR”, and everyone would have understood.
🤪 That’s funny!… and so true.
To quote the oft referenced Dave Chappelle meme, “gotcha, bitch!”. I love watching a weasel like this little shit squirm. Even though, in the end, it will make no substantive difference, it’s nice to see him suffer a moment of distress as he” blue screens” out trying to find an answer that won’t tip off the normies that he’s lying his ass off.
He didn’t want to say the obvious which is if you print money lend it to yourself then print more money to pay the interest on the loans to yourself it is a scam. They try to say the scam is legitimate because the Fed owns the money. Not the perfect description of how the Fed works but you get the idea. So, in essence the Fed owns us. When you print money that has nothing backing it up it will eventually be worthless, that is where we are headed, prepare accordingly.
What he really said:
The taxes collected are distributed as cash. AND ALWAYS HAVE BEEN.
The printed money goes to our Bosses/Cronies to buy tangible assets, ultimately leading to…You Will Own Nothing Book | Carol Roth
The rest of that drivel? Just marketing.
The Game is almost up.
Yeah those were my points , one, that its marketing ( used car salesman ) and the other that eventually the jig will have to be up, as the immutable laws of compensation that govern the physical universe will have the last word , and apparently they aint smart enough to know that .
He should have just said “Treasury does it for the benefit of the Top 0.1%”.
He should just said : “What are ya , new ?!? Ain’t ya ever seen a ponzi scheme before ?”
Bachelors in music.
Master’s in social work.
PhD in social work.
i shit you not.
It’s their (B3RG*) mockery of the Dirt People that is the worst part (aside from the economic and financial catastrophe these corrupt bastards are engaged in producing for the world.)
Fuck this Jared charlatanstein and FJB.
that just blows the mind that one can even get a master’s AND a Ph.D. in social work. You could literally teach someone everything there is to know about social work in an afternoon.
He says that we are too stupid to understand such a complex subject, when in reality, he is dumber than a box of rocks, no offense to rocks intended.
The government can mint coins, but only the Fed can print currency. The Fed prints it and then exchanges that currency for bonds issued by the government. In essence, the big banks own most of the debt of the US, so would suffer the most in a bankruptcy. I don’t think that would be such a bad thing.
It is real simple, they run up the debt until it reaches the level of the combined wealth of the US Citizens. Then they collapse the economy, and confiscate your wealth.
2 birds with one stone.
Well, I certainly can believe that this numbskull is Biden’s economic advisor. No doubt.
Priceless. He couldn’t make the leap from ‘they print the money’ to ‘they borrow the money’. His innate sense had not yet been completely excised when the video was made. He sees the government as the printer is the holder so government must lend that money, says it three times before recognizing, no they don’t lend at all, they sell bonds and therefore borrow. It took him several tries to recognize he simply wasn’t going to make the leap and finally he folded like an overloaded lawn chair.
Priceless… no selling rate attached, without price, therefore… like all fiat money…. Without value.
Still acting.
Thanks! I needed that. 😊
So close…
“BIDEN’S TOP OF HEAD ADVISOR”
(Bernstein)
Of course, he’s not going to reveal the money changing theft of his tribe.