Mo Brooks: Our Inflation Crisis Was Caused by Self-Inflicted Wounds

Automatic TRANSCRIPT

And then when we printed all that money and spent it and we didn't have the supply chain to back it up of course the prices of the products went up Is any of this rocket science I mean this was taught to you when you went to school for economics correct Like this was very predictable By way of background I graduated with distinction and economics at duke university So I do have some education in economics And I have looked at economic issues for decades now of course you've got Jimmy Carter with the economic malaise associated with his administration and the inflation that we have today And I've been advising people that it's only a matter of time before these bad economic policies come back to bite us The difference between the economic malays and Jimmy Carter is much of that was inflicted from without with OPEC doing what they did and monopolizing all production and artificially jacking up prices What's happening now These are all self inflicted wounds When you have a $30 trillion debt you borrow $7 trillion of the last three years alone That's going to devalue the value of the U.S. dollar which in turn means you got to pay more dollars to buy whatever it is you're going to buy And then you add on to it the very bad response to COVID where we attacked our own economy we paid people not to work but what happens when you pay people not to work that interrupts the supply chain not as much as on the shell So you have to pay more in order to get it And it doesn't end with that there are other things I'll give you another example The Biden administration day one attacked energy production for energy that's going to be consumed in the United States of America That cuts down on the supply of energy particularly oil what's the net effect of that That drives that pricing So all of this is economics one O one so long as you don't go to the same university that AOC went to

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