There is a tremendous fallacy circulating among many Americans in general and the vast majority of conservatives in particular. There’s a belief that Bidenomics is not working, which is supposedly self-evident when we look around at the financial carnage ubiquitous in this nation.
The reality is that Bidenomics is working exactly as it was intended to work. Like Kamala Harris said, “Bidenomics is working!”
It’s challenging to suspend disbelief in this notion because no matter how badly Joe Biden, Kamala Harris, and the regime operates, most Americans work under the assumption that they’re not trying to tank the economy. It’s easier to blame incompetence, wokeness, and poor fiscal policies than to assume a darker intention. But the intention of tanking the economy comes from a false but persistent ideology that the regime won’t say out loud. They want to replace the system with Modern Monetary Theory and to do that requires everything that’s happening right now.
In other words, they think they’re doing “good” by destroying what we know to be a strong and vibrant American form of capitalism. This is how we know their intentions. If they openly discussed installing Modern Monetary Theory in America, their actions would be exactly what they are today.
MMT requires high unemployment, inflation, and a massive population surge from external sources. Does any of that sound familiar? As much as I loathe Wikipedia, their initial overview of Modern Monetary Theory is actually quite accurate:
Modern monetary theory or modern money theory (MMT) is a heterodox macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires.
According to MMT, governments do not need to worry about accumulating debt since they can pay interest by printing money. MMT argues that the primary risk once the economy reaches full employment is inflation, which acts as the only constraint on spending. MMT also argues that inflation can be controlled by increasing taxes on everyone, to reduce the spending capacity of the private sector.
MMT is opposed to the mainstream understanding of macroeconomic theory and has been criticized heavily by many mainstream economists. MMT is also strongly opposed by members of the Austrian school of economics, with Murray Rothbard stating that MMT practices are equivalent to “counterfeiting” and that government control of the money supply will inevitably lead to hyperinflation.
We know two things for sure. First, the Biden-Harris regime is working behind the scenes to lay the foundation for a near future iteration of Modern Monetary Theory. The reason we know this is ironic because it appears to have been an unintentional admission by the Chair of the White House Council of Economic Advisors, Jared Bernstein.
According to Fox News back in May:
A viral video of President Joe Biden’s chief economic adviser, Jared Bernstein, appearing to struggle to explain how monetary policy works has raised new questions about the administration’s handling of the economy.
Bernstein, who chairs the White House Council of Economic Advisers, was interviewed for a new film called, “Finding the Money,” a documentary made by advocates of Modern Monetary Theory (MMT) – a controversial line of economic thought. One of MMT’s central tenets is that government budget deficits don’t matter for countries like the U.S. that borrow money in their own currencies. Proponents argue this means the government should use tax and spending policies to manage the economy and address inflation instead of the central bank’s monetary policies.
“The U.S. government can’t go bankrupt, because we can print our own money,” Bernstein says in the video. He was then asked by the interviewer, “Like you said, they print the dollar, so why does the government even borrow?”
Bernstein’s reply seems to indicate uncertainty – at best – about monetary policy.
“Again, some of this stuff gets – some of the language and concepts are just confusing. The government definitely prints money, and it definitely lends that money by selling bonds. Is that what they do? They sell bonds, yeah, they sell bonds. Right? Since they sell bonds, and people buy the bonds, and lend them the money,” Bernstein replied.
If reading that makes you think he sounds like an idiot, watching it is even more disturbing.
The other thing we know for sure is that many Democrats have been pushing for the foundation of MMT to be built for years. If you don’t recall hearing many of them mention Modern Monetary Theory, it’s because they’ve been using a different name: The Green New Deal.
As Alexandria Ocasio-Cortez’s former Chief of Staff Saikat Chakrabarti famously noted, the Green New Deal wasn’t about the environment. It was about economic change. He would know. He’s the primary architect of the legislative abomination.
The Daily Caller noted his comments from 2019:
“The interesting thing about the Green New Deal, is it wasn’t originally a climate thing at all,” Chakrabarti said to Inslee’s climate director, Sam Ricketts.
“Do you guys think of it as a climate thing?” Because we really think of it as a how-do-you-change-the-entire-economy thing,” Chakrabarti added.
So when Kamala Harris says Bidenomics is working, she’s not misspeaking. She’s not delusional. Bidenomics is working exactly as it was always intended to work, as is the entirety of the Biden-Harris regime. We have to stop assuming they’re just idiots and realize that to be that stupid requires intent.
If you take a test with 100 multiple-choice questions, one can expect to get around a quarter of them right if they just answer “C” on every question. That’s based on ignorance and incompetence. To get EVERY question wrong means they know the right answer and they’re willfully picking the wrong one. That’s insidious intent and that’s exactly what we’re seeing from the Biden-Harris regime. They’re getting literally everything “wrong.”
The regime has acted to raise crime, inflation, and the illegal alien population. They have acted to reduce security, access, and freedom. These are all extremely important precursors to an economic collapse that would allow them to usher in Modern Monetary Theory as the “solution.”
In fact, it would be the only possible “solution” once the debt reaches a point of no return, which many believe has already happened.
Over the remaining months of the election I am going to be working to educate as many as possible about MMT, economic collapse, and Bidenomics. If, God forbid, Harris is able to steal the 2024 election, then I will shift focus to educating how we fight back before it’s too late. All of this will be done through my revived project, the Economic Collapse Newsletter on Substack.
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