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June 9, 2022 | Sen. Kennedy on Gas Prices: “It’d be Cheaper to Buy Cocaine and Just Run Everywhere

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Senator John Kennedy (R-LA) ripped into the entire Biden Administration for economic mismanagement. “Treasury Secretary Janet Yellen — who was also captain of ‘Team Transitory Inflation’ — announced she’s really sorry but inflation’s not gonna [sic] be transitory, it’s gonna [sic] be with us for a long while,” Kennedy recounted. “In other words, she does not have a solution to inflation but she really admires the problem — in other words, get used to it.” This comes shortly after Yellen admitted she was wrong on her stance on inflation after assuring the public for years that prices would cool.

President Biden actually admitted there was nothing he could do – or think of doing – to lower the cost of goods. “There’s a lot going on right now but the idea we’re going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term. Nor is it with regard to food,” Biden said at the White House. “We can’t take immediate action that I’m aware of yet to figure out how we’re bringing down the prices of gasoline back to $3 a gallon. And we can’t do that immediately with regard to food prices either,” he said. This is why action needs to be taken before a problem becomes a crisis. Biden went on to yet again blame Putin for rising inflation, dismissing any blame, and shrugging his shoulders as if there is nothing he can do as the president of the world’s largest economy.

Garnering laughter, Kennedy jokingly said that gas is so expensive it would “be cheaper to buy cocaine and just run everywhere.” The price comparison may be something for Hunter to weigh in on.

Kennedy’s humorous outburst was truthful. “Meanwhile her [Yellen’s] boss, President Biden, continues to campaign for more economic chaos by trying to convince us in Congress to raise taxes by $3.5 trillion by expanding an already generous welfare state and by turning cops into social workers,” he said. He went on to mock Vice President Harris for having an “epiphany” and realizing that illegal immigration was a problem. “She wants American companies to invest $3 billion — not in America — but in Central American countries,” he said. “Many of which hate us,” Kennedy said, while also noting some of that money would be stolen.

The Biden Administration has no solution for inflation or the immigration crisis. They currently are throwing money everywhere and worsening every situation they pretend to be solving.

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June 9th, 2022

Posted In: Armstrong Economics

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