Even a Democrat saw Bidenflation coming

In February, Larry Summers, Clinton's secretary of the treasury, tried to warn Biden about overstimulating the economy with the $1.9 trillion America Rescue stimulus. Summers said it would cause inflation.

Biden not only ignored that advice but later signed another trillion-dollar stimulus, and he is working on his $5 trillion BBB stimulus.

Inflation now is at a 40-year high. The dragon Reagan slew rises like a phoenix under Biden. Maybe inflation bought a couple of paintings by Hunter. Who knows? More likely, the 1%-ers who back Biden (Bezos, Gates, Buffett, et cetera) will rake while the 99%-ers struggle with the aftermath of his stimuluses. The economy is on a sugar high. We are printing up money backed only by the campaign lies of politicians.

The actual prediction of Summers was far from perfect.

He told Bloomberg TV, "I think there is about a one-third chance that inflation will accelerate significantly over the next several years, and we’ll be in a stagflationary situation, like the one that materialized between 1966 and 1969, where inflation went from the range of ones to the range of sixes. I think there’s a one-third chance that we won’t see inflation, but the reason we won’t see it is that the Fed hits the breaks hard, markets get very unstable, the economy skids downward close to recession. And I think there’s about a one-third chance that the Fed and the Treasury will get what they’re hoping for, and we’ll get rapid growth that will moderate in a non-inflationary way."

So two of his three predictions are bad, while one was neutral. No one would take such chances with their own money, but politicians only care about the next election.

Here we are, stuck in the '70s again. (The stagflation was 1976 to 1979. He got the decade wrong.)

Reagan cured inflation by raising interest rates, which hit 20% at one point. That drove down inflation but it also drove unemployment up. Despite this, he became the second president to carry 49 states.

From the Fall of Kabul to inflation, Biden is bound and determined to bring back the 1970s. He has Disco Fever, which means our economy may be headed for pneumonia.