Staff Reports
On the recent Fox News show “America Reports,” Dr. Mohamed El-Erian, a brilliant economist with a laundry list of titles, dropped some knowledge bombs. He basically gave us the scoop on why getting our current high inflation down to a nice and cozy 2% is going to be a tougher nut to crack than breaking a piñata blindfolded. According to El-Erian, it’s like trying to squeeze toothpaste back into the tube – not an easy task.
El-Erian pointed out that in the good old days of yore, we were all about deregulation, keeping things lean and mean on the fiscal front. But now, it’s like the government is playing a game of SimCity with our economy, intervening left and right and racking up the national credit card bill faster than a kid in a candy store. He blames this shift for the inflation surge we’re experiencing – it’s like someone turned up the heat too high on the economic stove.
Fmr. Obama Econ. Adviser El-Erian: Regulation, Spending Helped Create Inflationary Environment #Bidenomics https://t.co/cVuNJaXYI8
— Terri ??????? (@River_City) May 18, 2024
And don’t even get him started on globalization – or the lack thereof. According to El-Erian, we’re more like fractured puzzle pieces than a global community, which ain’t helping matters. It’s like trying to do a group project where everyone’s going rogue and doing their own thing.
So, in a nutshell, El-Erian is basically saying that bringing down inflation ain’t gonna be a walk in the park. It’s more like navigating a maze with a blindfold on and hoping you don’t bump into any walls. Inflation, he says, is here to stay unless we make some serious changes – and that means making some tough decisions and maybe dialing down the government’s involvement in our day-to-day economic affairs.
