Image Credit: screenshot/MSNBC 
Wall Street, not the U.S. government under Joe Biden, is to blame for the historic inflation wreaking havoc on the economy, claims Rep. Alexandria Ocasio-Cortez (D-N.Y.).
In another display of her economic illiteracy, AOC argued that the rampant 40-year-high inflation is the result of “corporate greed” and Wall Street, not U.S. government spending policies.
“When we talk about issues like inflation, a lot of this has to do with the massive consolidation of our markets and corporate greed,” Ocasio-Cortez claimed Friday on MSNBC.
“Inflation is not going up due to government policies, inflation is going up due to Wall Street decisions,” she asserted.
“And the idea that they can just squeeze us for every penny that we’re worth and we can also say that and acknowledge the fact that that’s impacting some communities more than others. And that is how I think we can emphasize this message.”
The cause of inflation isn’t up for debate.
Contrary to AOC’s claim that inflation is caused by corporations arbitrarily raising prices, it’s a well-established economic fact that inflation is the result of rampant government spending policies assisted by the endless money-printing mechanism of the Federal Reserve central bank.
As Nobel Prize-winning economist Milton Friedman once pointed out, inflation comes from government policy because only the government can create money — not Wall Street or corporations.
"Inflation is made in Washington because only Washington can create money." – Milton Friedmanpic.twitter.com/CZLiZ8Nmhk
— Mike Lee (@SenMikeLee) October 21, 2022
Though current inflation levels were likely inevitable due to the Federal Reserve’s decade-long zero interest rate and quantitative easing policy following the 2008 recession, the creation of $5 trillion into the money supply out of thin air during COVID greatly exacerbated the inflation rate.
Though the Federal Reserve is incrementally raising interest rates, the government is still continuing to spend more than it takes in, especially as a result of the Biden regime constantly sending billions of dollars the U.S. doesn’t have to Ukraine.
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