Well, ain't that a hot diggity biden lays out a plan to fight inflation before pal meeting. Now i read this article right now just a moment ago, and i just turned on my webcam, because this is like a monthly python skit. This can't be real now. This is president biden's plan to fight inflation now trigger warning um.

If you are a fan of president biden, you might be a little bit offended by what i got to say and a little bit actually means a lot now i want to stress out. This is not a political video. I couldn't give less if it's biden, trump or a giraffe. I care about the policy, and the policies do do if it still offends you by all means feel free to unsubscribe.

It's not a problem now check this out. Now. Biden lays out a plan to fight inflation. So let's go over the plan because this is really the interesting part.

So president biden right here - let's just highlight it so it's easily visible president biden on tuesday - will meet with federal reserve chairman john powell, who was formerly sworn in last week for his second term as the head of the u.s central bank, the rare meeting at the Oval office will focus on inflation and state of the economy, as prices continue to soar on everything from gasoline and food to transportation and housing. While the fed has embarked on a cycle of aggressive rate hikes and trimming its massive balance sheet, many have criticized the central bank for being too slow in addressing the price pressures, while others say moving too severely could trigger a recession or that the u.s economy is Already in one now, this is just corpus, speak for mid terms are coming up. We're in we got ta find a way to spin this now again, not political, just calling it like. I see it so basically here they go through the strategy and sorry the current state of the inflation.

We all know this eight and a half percent. Eight point three percent doesn't matter about eight percent: let's go through the strategy, it seems like a three prong plan and indeed a clown show. If you ever seen one. This is kind of insane so number one.

Let's read the first proposal. The price at the pump is elevated. No sherlock, i mean say that the price at the pump is elevated. It's like saying that i ate a little bit too much candy over the past few years i mean my guy.

The price is out of control because and get this, the price of the pump is elevated in large part because of russian oil, gas and refining capacity are off the market. Let's remind you that president biden is the one who took russian oil, gas and refining capacity off the market. We are the ones who sanction russia. Basically saying hey, we don't want your oil, so it's insanely self-inflicted.

To be honest, i'm not saying that this wasn't. Morally. True and justified - and you know they needed to be punished in a whole bunch of ways, but i don't know if sanctioning russian gas, oil and refining capacity was the right move. Perhaps there were other ways to do it.

I don't know, but in any case my point is that we have sanctioned them and now that's why we don't have the oil we need to keep prices low. It's not basically something that putin did with russian oil, gas and refining capacity. We basically said: hey we're not buying from you, so when they say it's off the market. Well, it's off the market because we decided it's off the market.

Now we can let up on our global effort to punish mr putin for what he's done. I absolutely have no idea how punishing mr putin, which i agree with that needs to be done, has anything to do with inflation. Sorry, i just don't see the connection here. I agree 100.

He needs to be punished, but i mean how is that anything to do with inflation. Punishing putin does not reduce the amount of dollars. I pay the gust pump, which is what we're talking about here, and we must mitigate these effects for american consumers. No.

This is why i led the largest release from global or reserves in history, which is meaningless just so. You know this is just a bunch of fluff and the global reserve release is a couple days worth of oil. It has nothing to do no impact whatsoever on global prices of energy and oil, not in the medium term, not a long term, not even in the short term, so releasing a reserves. First of all, not sure, even if it's legal, because these are supposed to be for times of crisis like a war, so barring any legal issues with that which i'm sure they've tested, i mean, don't see how this is legal, but whatever it doesn't, really help.

The problem, it's a minuscule amount compared to the amount of shortages we have and you can look at how much they're releasing, but i can just show you a chart. That's going to make you understand how ridiculous this is. These are the countries that producing the most amount of oil and we tend to listen to our politicians when they tell us well. Russia is only 10 of the global oil supply, only 10 percent, so we still have 90 of the global oil supply.

Well, not accurate. First of all, they're, the third biggest producer of oil, as you can see here, which is a big booboo. If you take it away, just took away your third biggest supplier number, two, it's all about geographies, so the us makes oil for its geography. Saudi arabia makes oil for its geography in asia.

Russia made oil for europe, there's a lot of logistical issues that are involved in moving these pieces. It's not that easy to move energy from saudi arabia to europe or from the u.s to europe. I mean russia was the supplier for europe, and now you just took it away so beyond the 10 percent and beyond the 11 million barrels per day that now you don't have and there's a logistical problem to get oil into europe right now and look at this 11 million barrels per day gone how many barrels are going to release from the spr and yeah? It's not going to be anywhere near that, so it's just a pr move, um, so releasing the all reserves. Pr move will do nothing for the prices they got.

Ta say you know: it's lip service congress could help right away by passing clean energy tax credits. How does clean energy tax credits help us? We need freaking oil, my guy not clean energy tax credits. We need oil right now we need pipelines, we need refineries. We need capex investments into producing oil and gas and refineries.

We need pipelines everything that your administration has fought against ever since you took office, so it's kind of funny, because the buyer's administration and i'm not blaming them politically, have been really on the tear that have caused reduction, massive reduction in capital expenditures and investments in oil And gas in the us and pipelines and whatnot everybody knows keystone and all that story. So i find it a little bit hypocritical and by a little bit i mean a lot and i also don't see how clean energy tax credits uh make my gasoline cheaper in the pump number two like what this clown show. If this is cloud, this is like clown show to the max. Ah, we cannot okay, we can also reduce the cost of everyday goods by fixing broken supply chains, improving infrastructure and cracking down on the exuberant fees that foreign ocean freight companies charge to move products.

So, basically, the broken supply chains that you haven't been able to fix. For the past two and a half years, all of a sudden gon na be fixed poof with china locked down. Okay, improving infrastructure takes years effects. Take years, it's not going to affect current inflation.

Cracking down on global freight rates, so basically you're going after a competitive market where people charge whatever the market standard is and you're going to regulate. Global shipping rates sounds a little bit common communist to me, but okay um, i just i mean it doesn't economy, doesn't really work. That way i mean, if you charge them or make them charge less. I mean they're just not going to take the deals.

I mean. There's going to be less freight moved and it's going to be more expensive to move freight. So if anything communism taught us is that controlling prices like that, it's highly inefficient and it ruins industries. So i don't know if it's a good idea.

Uh mr biden, president biden, sorry and, and then my housing supply action plan will make housing more affordable by building more than a million more units and reality check for dividend definition and putting more money into into the market by making things uh more. Affordable is kind of against the point of what they're trying to do here. So the idea here is again: i'm not against people having affordable housing. Definitely a noble cause, and it needs to be, you know, needs to be part of the plan, but um we have a money supply problem, so this chart shows you uh the money supply that we had in the us and, as you can see here, this is Pre-Pandemic and then you saw exactly what happened during the pandemic, so this is just simple math when you bombard the market with lots of money, whether by stimulus checks, your credits and whatever you're causing inflation.

I mean it's kind of simple, more money in the market: more inflation, so affordable housing, as noble as it is - and it definitely should be part of the plan - basically means more money into the market. It's actually going to make inflation a little bit worse, um yeah. So we can reduce the price of prescription drugs by giving medicare the power to negotiate with pharmaceutical companies and capping the costs of insulin. Well, that's good.

I mean um that should be like a basic product, but solving the cost of insulin, um important and needs to be done is not going to tackle the biggest problem, which you have right now too much money in the system and a broken supply chain which none You can address, and so this is just it's political bribery. You know: cheaper housing, cheaper medication, lower cost of child care, everything they throw out during election times to make you feel better about yourself now. The third part i find really amusing, because the third part about tackling inflation is by reducing federal deficit. Um yeah, i don't i mean i don't have anything more to say about it.

I mean how does this solve supply chain or money supply in the system? Um? There's no revenue service should have the resources to create taxes. The americans already owe we should level the international taxation playing field. The companies no longer have the incentive to shift jobs, and this is actually a good idea by the way. The only part of this plan that makes sense is this part.

The latter part 100 agree with u.s. Companies are moving jobs and profits and tax revenue overseas systematically over the past 30 years ever since the clinton administration by the way, and so that needs to be addressed, donald trump actually started taking care of this with his guilty tax gi, lti tax, look it up And it was a good initiative. I think they need to keep banging the drum, so there's a lot of tax dollars in that plan, so the le the latest part of this plan, this little part right here - is actually a really good idea. But again i just want to stress out this is like a five-year plan to increase tax revenue for the u.s from overseas taxation of u.s companies.

It's not going to solve the problem tomorrow. I don't know what is, but at least i would have appreciated biden coming out and saying hey. There is no solution to this thing. We don't know how to solve this.

We're going to do our best. It's probably going to be very, very painful for the next couple of years, while we try to figure this thing out and we'll do our best to help you, but instead they come out with this pr election. Bribes to make you feel as if they know what they're doing it's kind of frustrating to keep seeing it again again again if you're triggered it is what it is. You know my two cents about this.

That's ridiculous!.