Jason Furman is the former Chairman of the National Economic Council under Barack Obama; he is currently a professor at Harvard teaching economics. If you ever wondered why the economy under Obama included the weakest economic recovery in history, the advice of Furman might explain it.
In an interview with CBS this morning, Jason Furman says the best way to get inflation under control is to raise taxes and stop people from spending money. This approach will impact the demand side of the economy and as a result, with no one purchasing stuff, it will lower prices. Seriously, no joke, he said this. WATCH:
Jason Furm: …”Congress should be trying to do their part and helping out if they can cut the deficit, including raising taxes on high income households, that would reduce a bit of spending in the economy, it would cool the economy down a little bit, and actually take some pressure off the Fed.”…
Create a deeper recession to control inflation, brilliant!
Like I have been pointing out for months, these ideologues believe inflation is being driven by the demand side, by consumers purchasing too much. They pretend not to know it is the supply-side issue of energy policy that is driving the CORE inflation they seek to reduce.
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Harvard Economics Professor Jason Furman reminds me of this:
Dr Thomas Sowell said that whenever there is a catastrophe, you will always find a man from Harvard in the middle of it.
Thanks for posting the quote.
You are most welcome. I think it is my favourite of his.
“It takes considerable knowledge just to realize the extent of your own ignorance.”
~Thomas Sowell
In my trade, “I’ve finally learned enough to know how little I know” or “He has not yet learned enough to know how little he knows”.
Perfect.
He says so much in very few words. While the people interviewing him rabbit on and on…and on…and then allow him to answer, he takes one sentence to make his point. And then there is a stunned silence from the questioner, thinking surely there is more to come.
But there isn’t. It’s rather fun to watch them thrown off track as they try to find the next question on their crib notes.
I am a huge admirer of this man. As I would be of anyone who alters firmly held views when, through experience, he discovers he was wrong, like Dr Sowell.
Thanks for this of his…I feel he is speaking of himself. It is a gem.
It does not require many words to speak the truth.
Chief Joseph
No it does not. A wonderful quote.
Or, from ANY of our universities: report out that the University of AZ will now require 4 courses on diversity for graduation.
Things began to go downhill even further when money was tossed at our public universities and not wanting to lose those they let in, university presidents made sure the courses were politically correct and unflunkable so they could continue to feed out of the public trough.
Standards are low; enrollment is high. Courses require no scholarship. Nutty professors are on easy street with their sociology courses getting huge sign ups for the easy A’s.
We taxpayers have to cut off the money being spent at these places and cut the presidents off at the knees.
First, get rid of federal gov. involved in loans.
My 17 year old grandlads are headed towards graduation and looking forward to their next chapter.
I am trying to convince them that if the university route is what they’ll take that they consider a community college before diving into a bankrupting indoctrination factory. I am very worried about it. I would like them to consider a trade perhaps.
They are both extremely bright but the idea of a 4 year university at this point and all that means makes me extremely nervous. Also in part because of the requirements for vaxxxxing. I have told them straight to their faces to never ever get it, and I’ve explained why. They know.
I’ve been talking to them all their lives…lecturing really…and they have and are listening. So I’m putting it all into God’s hands. Have to turn them loose sometime. Possibly the scariest thing a parent or grandparent ever does.
If the family can afford it, Hillsdale College is excellent and is not only non-woke, but is pro-America, pro-liberty, pro- Constitution. It doesn’t receive government funding. It is not low cost but average for 4 year resident colleges.
https://www.hillsdale.edu
I thought of Hillsdale, GB. Unfortunately, that will not be possible. And I am sorry about that.
I do thank you for the link.
No problem. Every family has a unique situation and I fully respect that.
A sufficient amount of incompetence is indistinguishable from malice.
Incompetence, ignorance, treason (malice)… always hard to tell the difference.
Yes–but incompetence doesn’t require the FBI to frame your opponents, the NIH to build a Super-Bug Virus and a Death Serum “cure” or two slugs in Seth Rich’s back.
They do those for the sheer joy.
Thus malicious, you agree?
So much the better.
So it begins.
I won’t consider myself worthy unless I drop at least 10 of Satan’s Stooges before they get me.
If a 100 I should be in heaven.
I previously had a manager who was both stupid and nasty. Sometimes I wasn’t sure which side was the cause – there’s definitely some crossover.
What is it the dumbest stupidest persons work for the government?
Because corporations that need to run a smart, lean and nimble business to turn a profit and make dividend payments do not want these losers around.
Dangerfield warned the professor…
He wasn’t factoring in the bribes and payoffs 🙂
Classic!
Exactly.
Because they’re not productive. They’re leeches.
They’re called mid wits. Not so stupid as nitwits but not fully witted either. There’s an amusing article or two about the term on the interweb somewhere.
“Formed” Chairman is the operative word. Who cares what he thinks. Please professor, give one example where the government raises taxes to reduce the deficit without also increasing spending. The government does not have a “revenue” problem. It has a spending problem. A Harvard degree is not what it used to be.
*Former
𝐓𝐡𝐞𝐲 𝐝𝐨 𝐧𝐨𝐭 𝐩𝐫𝐞𝐭𝐞𝐧𝐝. 𝐓𝐡𝐞𝐲 𝐚𝐫𝐞 𝐨𝐮𝐭-𝐢𝐧-𝐨𝐮𝐭 𝐋𝐘𝐈𝐍𝐆 𝐚𝐧𝐝 𝐫𝐞𝐥𝐲𝐢𝐧𝐠 𝐨𝐧 𝐚 𝐝𝐮𝐦𝐛𝐞𝐝 𝐝𝐨𝐰𝐧, & 𝐛𝐫𝐚𝐢𝐧𝐰𝐚𝐬𝐡𝐞𝐝 𝐬𝐨𝐜𝐢𝐞𝐭𝐲 𝐨𝐧 𝐟𝐨𝐫𝐞𝐯𝐞𝐫 𝐥𝐨𝐨𝐩𝐞𝐝 𝐦𝐞𝐝𝐢𝐚 𝐬𝐨𝐮𝐧𝐝 𝐛𝐲𝐭𝐞𝐬.
The good news, not many people watch the Sunday shows, basically they’re talking to themselves.
The best way to deal with inflation is to create a sun-like environment in and around DC….but only needed for a short period of time.
You mean like a brilliant flash with temps hotter than the Sun? Yeah, that would cure a LOT of things.
Yes, hold them under a magnifying glass and cook them until they’re smoking!
Now *that* would be worth selling tickets for!!!!
🙂
lol!! Or see above!
Not hard for Avg Joe
When energy goes up its related to oil
When oil goes up so does All
Why prices rise weekly like oil has been
Drill Baby Drill
Jan 3 cant come soon enough
MAGA
Anyone else catch the lisp?
Sounds like that fundamental transformation again.
How else would you go about driving people into wanting socialism and into the waiting arms of the State providing for all of your needs?
Cause the problem, and then give the preordained solution to the issue. Not playing that “game” anymore.
Fool! Functional illiterates from Harvard.
The problem is these policies no longer impact the policy makers.
The silly, unworkable and destructive OWS mentality which 0bama and his agitation network astroturfed using textbook Marxist class warfare / envy rhetoric – aside from creating a national crime wave – gave economic morons like Bernie Sandals & Lizzie Warren an opening on the national democrat stage and now this idiotic piffle is mainstream in the once great party of JFK & Truman.
Nice work Barry.
Bingo! These jerks mean to kill us off.
The ideocracy continues !
Great idea to stop the transitory inflation that no serious economist …
Just as bad and ignorant is that his “Tax” Plan would be focused on the impossible task of cutting the $15+ Trillion in “DEFICIT SPENDING” and not on cutting the actual growth and growth rate of the NATIONAL DEBT. He is actually proposing the same disastrous policy as his fellow Harvard Scum Alumni Paul Krugman, which won Krugman a Nobel Prize … more Government spending plus this outrageous policy of taking money out of the pockets of consumers to be spent again on anything NON-PRODUCTIVE.
So, to summarize the circular economic disaster proposed:
Take money away from consumers as taxes, to decrease a deficit growing by an amount faster than taxes collected.
Then, turn around to increase the deficit by spending more money than the taxes just collected on efforts that do not help the economy.
Lol yes. We need Sam Kinison!
if only the Government was considered “People” then i might be on board with stopping People from spending.
I’d like to see an interviewer say fine, let’s tax foundations over a certain size (Gates, Soros) and university endowments over a certain size (Harvard, Yale). Let’s also heavily increase the tax on law firm and consulting firm profits (Perkins Coie, McKinsey). And finally, let’s heavily increase the tax on stock options to executives already paid handsomely (Chapek at Disney, that slimy creep who runs Google). I bet economist Furman would start singing the praises of “job creators” and “free markets.” I’d like to see the GOP start pushing for these taxes. We’d attract a huge percentage of voters. And limit the money flowing around that is used to try to destroy us.
Please add “investment houses” such as Blackrock to your short list.
And it took a world war to bail out FDR’s sorry ass.
Sadly, they seem to be angling for one of those too.
Wow! Is this the FIRST TIME ever that Democrats admit raising taxes kills off the economy!? This is a RED letter day in History!!
It doesn’t ever matter what Democrats say it’s what they actually do that’s important! President Trump gave us all a tax cut when Democrats repeal it they will claim the tax cut was only for the rich! Democrats can easily say that “raising taxes kills off the economy“ while at the very same time raising taxes “on the rich”! Only the tax increase hits the shrinking middle class the most!
Krugman!
Krugman knows – ask Krugman – Krugman knows everything.
“Landru! Save Us!!
The Economists are Not One with the BODY Plebeian.
WEF grad Class of ’95…
Raising taxes, more Govt spending and paying unemployment (according to Pelosi) are the Democrat’s trifecta for stimulating economic growth! Only problem is it has never worked! When Democrats are in charge everything turns to shit including the economy! Never right but never in doubt!
its zen meets friday night poker.
I like the idea of pressuring the “Fed”. I think they should be pressured right across the Potomac and into the woods! Only a suggestion! LOL!
It looked like he was trying to stop himself from laughing, probably because he knows what he’s saying is complete nonsense.
That’s their only trick…make everything too expensive to buy…force wholesale layoffs and force inflation to plateau. A situation they themselves created. Now we have the added prog delight of also taxing the hell out of you as we squeeze you at the grocery counter.
Democrats never need an excuse to have government spend more or raise taxes
Raising taxes in a recession is what Hoover did.
That did not end well.
And a way to lower your blood pressure is to cut your wrists and bleed out.
Or cut theirs.
We’d be better off with Rodney as chair of the President’s economic council.
Rodney: “What’s a widget?”
Professor: “It’s a fictional product.”
You know–just like Robinette Caligula.
“My mother never breast fed me. She told me that she only liked me as a friend.”
#WhatWouldRodneyDo?
A: He’d get in your face, say something outrageous–and he wouldn’t phone it in.
And neither will we.
Rest in the Vine: Caddyshaft 81Million: The Fart of the Unicorn
I remember taking Econ 101 as an elective in the 80’s. Although I was conservative I was naieve and unaware of the ideologies driving economic policy and when the instructor said the class was on Keynesian economics as if it were the only valid model, I didn’t question it.
We studied supply and demand curves and all that stuff and I got a grade high enough the professor wrote me a letter inviting me to major in Econ (I didn’t).
What came from it was the idea that stagnation and inflation were mutually exclusive, opposite extremes. When the Carter stagflation period came up it was dismissed as an unexplainable anomaly.
Also, when discussing policy, it always focused on the demand side, assuming that that was the only way to shift the equilibrium between the two. Finally, he brought up supply side economics, just really as a concept, mentioning Reganomics as the example – but he basically shrugged it off as unrealistic and too far out of the box.
The instructor was not a political ideologue and I learned a lot, but looking back I now see what the paradigms were and what wasn’t discussed much but would have been worthwhile.
Defund Harvard and seize its endowment entirely.
Do the same to all the Ivy League institutions except their medical schools!
Yes, keep the medical schools operating while wearing masks. Also a big dose of remdesivir would also be helpful as we force a tube down their collective throat. FJB
Within 6 months this same guy is very likely going to be telling Congress to spend more and increase benefits to combat a recession.
People are going to have to start eating the rich – it’s the only way out. They clearly want to impoverish us all and then tell us to eat bugs.
Just curious but what is your definition of rich, think I know what you mean but many of us in small business that have invested and saved seem to have a target on our backs.
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I think he knows better. They all know better.
They want to destroy the U.S.
What they believe is that the vast majority of the public are ignorant of economics — or just dirt stupid altogether. And I dunno… maybe to some extent they’re right. Look at Biden’s polls. That he’s pulling more than 2%, the literally retarded people, is unfathomable to me. And look at how many people are still Democrat…
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A better idea… 😏
That one’s worth the effort.
So they gonna raise taxes or lower wages? Those are the 2 ideas I’ve heard the admin throw out for inflation…. So far. Idiots.
What a dirtbag
“Congress should be trying to do their part and helping out…”
Please, God… no. Congress is a big part of how we got here in the first place.
economics is not my strong suit. But I still attempt to wrap my head around monetary policy theory.
Here is a video of Milton Friedman who explains stimulus and inflation.
It’s not a terribly long or even difficult subject …mostly because Milton is an extraordinary mind and educator/teacher.
Pay attention closely to the “delay” in effects he speaks to.
What happened in 2020?
and now, we see inflation.
these are not random coincidences. These are deliberate “stimulus” policies that trigger fed rate monetary policy actions. One follows the other.
the other truth he reveals is that there is no such thing as international inflation. There is only national inflation. Hence, one nation cannot inherit or import inflation from any country.
I hope this helps other (like myself) who have difficulty grasping this subject.
I’m always reminded of that back to school movie clip too. Really is amazing these Obama losers are teaching. Cause they can’t do
Part and parcel of MMT ideology is to raise taxes (I guess to reduce demand) to “fight inflation” … this version of economic theory is lunacy but the Left adores it.
If I keep hearing stupid krap from people like Furman, I might have to look for Dr. Kevorkian’s replacement and put myself out of my misery.
I’m getting tired of the Dumb and Dumber School of eCONomics.
Dishonestly .. the Bidenites are totally pyscho! On the one hand, we have Butthead telling EVERYONE to purchase and expensive EV .. whilst cutting off the petro however possible … and now the fUrMan exclaiming taxes and depression For All ‘non’ clubed.
I swear, after this crap craters into a burning heap, a number of mental facilities should be built from the ashes by whomever’s left .. to house ONLY craycray Politicians!!! -regardless of ‘affiliation'(here’s lookin at you GOPe$..), with extra time to be served – for any egregiously bogus legislation THEY passed, or coaxed into passing, whilst in office. Have several to be emplaced in each State or District capital.
Smh. Over educated useless people, who also happen to be communists, socialists and marxists. And they are running the Gov’t top to bottom, front to back and left to right.
I had to stop reading after him being on Tucker. It was vile and disgusting and sick. This doesn’t belong on the treehouse!
This is your future
https://www.bitchute.com/video/A4N6XriCEYMp/
I have a novel idea. Call in the experts. There is only one man who has turned the USA into an energy independent economic powerhouse and within a very short period of time, President Donald John TRUMP.
And not only that, but he gave us our money back (tax cuts), which forced companies to lower prices and for some to give us money back. I’ll never forget the month and a half of free energy in the middle of winter.
If socialists understood economics they wouldn’t be socialists- F A Hayek
“All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by passionately clamoring for the products it turns out” ― Ludwig Von Mises
“The incomparable success of Marxism is due to the prospect it offers of fulfilling those dream-aspirations and dreams of vengeance which have been so deeply embedded in the human soul from time immemorial. It promises a Paradise on earth, a Land of Hearts’ Desire full of happiness and enjoyment, and — sweeter still to the losers in life’s game — humiliation of all who are stronger and better than the multitude.”
― Ludwig von Mises, Socialism: An Economic and Sociological Analysis
MORE: Ludwig von Mises Quotes (Author of Human Action) (<=== LINK)
Would that the elite were as well-read, but they are simply prostitutes for the elite.
Make no mistake, billybob, these commie rats understand economics very well. They just pretend they don’t and work their scams to transfer all the wealth from us to themselves.
They’re blood leeches on civil society.
I just don’t know.
These idiots seem to be convinced a man can get pregnant, and should be allowed to compete in Womens sports,…that CO2 is poisoning the planet,..that Zalensky is Winston Churchill, that systemic rascism is a thing, that post partum abortion is a good thing,…
And so OF COARSE they think the way to “cool down” the “overheated economy” is with TAXES,…Heck, they have ALWAYS liked TAXES.
They have never needed a REASON to raise taxes, just an excuse, ANY excuse.
“A socialist is obliged to be a prophet. For socialism is an ideal : and anyone who sets up an ideal, as an object to be practically aimed at, must be prepared to show that it is a realisable ideal. It is easy to build castles in the air : it is easy to plan Utopias which would be entirely beautiful if things were altogether different from what they are : it is easy to show that, if you had “a lever long enough and a prop strong enough,” you could move the world. But we have a right to say to such schemers : – “Let us see what you can move with the levers and props which you possess : let us see you build a castle on the earth : let us see you plan something more or less beautiful, things being as things are.” It is not only idle, it is positively mischievous, to delude ourselves with ideals which cannot be realised; because they blind us to actual improvements that might be made with such means as are even now at our disposal.”
– John S. Mackenzie, 1895 An Introduction To Social Philosophy
Ahh… truth! Refreshing.
If they understood anything they wouldn’t be socialist.
Is there ANYONE in the “current administration ” that has anu successful business experience??? This great Republic needs PRESIDENT TRUMP more than ever.
None of them even possess a soul.