An analysis of the economy by Morgan Stanley put the blame directly on the “excessive” fiscal stimulus spending by the Biden administration for the surge of inflation that is hurting so many Americans.
Michael Wilson led a team of analysts in the assessment released on Monday.
“In summary, the slack created by the covid recession is being absorbed much faster than usual. While some of this absorption is due to the supply disruptions created by the lockdowns, we think it was more so due to excessive fiscal stimulus provided during the pandemic, particularly the last $1.9T package at the end of March 2021 just as the economy was already emerging from the lockdowns,” the analysis read.
“In our view, this was what turbocharged consumption and drove inflation to 40-year-highs,” it continued.
“In other words, we created too much demand for the supply chains to handle. The fact that the supply chains had been impaired to some degree only exacerbated the shortages and inflation, especially for consumer goods,” they concluded.
The stock market has been plummeting in the last month as inflation worries crush investors’ hopes of companies’ earnings justifying their valuations.
The analysis from Wilson predicted that the market will continue to plummet before hitting a floor.
Republican pollster Kristen Soltis Anderson responded to the assessment by pointing to a poll from March 2021 that showed voters were very concerned about the massive spending leading to inflation.”Voters at the time were more worried about this possibility than many of our elected officials were,” tweeted Anderson.More recently, voters have indicated in polling that they blame Biden’s spending policies for inflation more than the pandemic, the invasion of Ukraine, or supposed corporate greed. Biden has responded to the crisis by claiming that fighting inflation is his first priority. Here’s more about Biden’s inflation crisis:
Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We just launched a new GiveSendGo page. We also have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!