Janet Yellen’s Fantasy Economy – WSJ

Janet Yellen is a respected economist, but her tenure as Finance Minister has not improved her reputation. Her lack of influence over President Biden has meant she can’t stop bad politics (student loan cancellations) and now the White House is rolling her out in election season to frame the US economy as a Valhalla of growth, fairness and optimism to represent. It’s not believable even if you drive one Tesla and live in Montecito.

Ms. Yellen spoke at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan and you know why. ford is receiving a barrage of new subsidies and regulatory favors as part of the Biden administration’s new industrial policy. If you’re in a green deal that the White House likes, then you’re in the clover. If not, you bear the cost of more regulation and taxes. In the Biden era, big governments and big corporations are in the political business together.

https://www.wsj.com/articles/janet-yellens-fantasy-economy-biden-administration-inflation-wages-dearborn-michigan-11662674409 Janet Yellen’s Fantasy Economy – WSJ

Alley Einstein

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