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In a banana republic, what do you do when your citizens don’t have enough money because of your socialist economic policies? Simple: print more money! There was a time when we thought American politics were above such insanity, but those days are gone. The Biden administration’s multi-trillion dollar money-printing spree has launched the worst inflation since the Carter administration and the longest collapse of the Dow since 1932. Nice going, Joe!
If you think Democrats might learn from their mistakes, you don’t know Democrats. What to do when voters complain that, because of inflated prices, they don’t have enough money to pay their bills? Give them more money!
That is Gavin Newsom’s solution: write checks to the voters to help them cover the rising costs of goods and services, which in turn will further drive up the costs of goods and services. But maybe the clueless–always a substantial voting bloc–will be grateful:
State spending has played a major role in the current inflationary spiral as the federal government doled out many billions of newly-printed dollars to the states. That money is still sloshing around, as Newsom’s tweet indicates. We aren’t quite in banana republic territory yet, but we are rapidly sinking to that level.