Kevin O'Leary Mocks Clueless Biden-Inflation: 'What Did You Think Would Happen?'
Shark Tank star and entrepreneur Kevin O'Leary mock Democrats and Joe Biden for being completely clueless on how inflation works. While speaking to journalist Daniela Cambone, O’Leary bluntly explained why Americans are experiencing the highest inflation in 40 years. Here's a hint; it isn't Russia, Covid, or whatever the hell else they say.
“The printing presses have gone insane,” O’Leary said. “That’s why we have inflation in the first place.”
By printing presses, O’Leary is talking about the Federal Reserve. The central bank has been expanding the supply of money for decades, and the clip has picked up in recent years. Nothing, however, has compared to the monetary expansion that occurred during the pandemic, something Fed Chairman Jerome Powell recently admitted in a 60 Minutes interview with Scott Pelley.
The mystery of Inflation.
"You flooded the system with money."
"Yes, we did." pic.twitter.com/2ClRf97fg7
— Jon Miltimore (@miltimore79) January 17, 2022
"You flooded the system with money," the CBS journalist said.
"Yes, we did," Powell responded.
This is what O’Leary is getting at. “Flooding the system with money” is what drove inflation to historic highs, and the result was always an obvious one.
“For all the talk of inflation, you print $6.72 trillion in thirty months, what the hell did you think was going to happen?” O’Leary says. “Of course there’s going to be inflation.”
Biden and his lapdog, Elizabeth Warren, have turned the inflation attention towards private businesses saying that 'corporate greed' has been driving up inflation but those claims have been debunked. Biden fingered the oil industry and was immediately humiliated on Twitter when users shared the cost vs sale that showed big oil has kept their costs and prices very close together.