President Biden repeatedly claims that Build Back Better will reduce inflation and says seventeen Nobel Prize-winning economists agree with him.  Although Biden lies a lot, it is certainly possible that he could find leftist economists who love big government and socialism, no matter how it fails as an economic system.  Socialism essentially makes the government more powerful and makes more people dependent on the government.  It gives little opportunity for the poor and middle class to move up.

Here are some simple lessons on economic concepts and inflation:

In the 1960s, the government started throwing massive amounts of money at colleges, in the forms of grants and loans, to supposedly make them more affordable.  The colleges took the opportunity to increase their tuition prices much faster than inflation.  There was never any attempt to control costs.  As costs went up, the government just threw more money at them, with no effort to see if the degree justified the costs, or if the parents and students could afford to pay the loans back.  In other words, there was no underwriting.

What is the Democrats' current solution for these massive loans?  Have taxpayers pay them.  The proper solution would have the schools guarantee the loans since they are the beneficiaries.

You Won't Believe How Much College Costs Have Jumped in the Past 50 Years

From 1969 to 2019, the average annual cost of a four-year public school has soared 3,009%. The average annual cost of a four-year private school has jumped 2,310%. Today, the average American needs to earn about $22,000 more than the current median income to afford college.

The Obama/Biden administration sought to destroy for-profit colleges because "for-profit colleges lure students with misleading promises, then saddle them with debts they can't pay back despite their newly granted degrees."

Obama pushes for-profit colleges to the brink'

On Wednesday, the Obama administration will begin choking off the financial lifeline of for-profit colleges whose graduates can't find well-paying jobs — and the move is likely to accelerate a wave of shutdowns for an industry taking assaults from all sides. 

Reining in the multibillion-dollar industry has been the administration's goal for most of President Barack Obama's term in office, fueled by complaints that for-profit colleges lure students with misleading promises, then saddle them with debts they can't pay back despite their newly granted degrees.

So why don't they go after very wealthy public and private colleges for misleading promises and saddling graduates with debts they can't pay back despite their newly granted degrees?

It seems that Democrats have a problem with the word "profit." 

Maybe the N.Y. A.G. should go after all the high-price colleges for fraud for encouraging students and parents to run up massive debts they can't afford instead of having a continuous witch hunt of the Trump family.  The harm is much greater, and the fraud is much clearer.

Obamacare took away freedom of choice, reduced competition, had massive mandates, and gave big companies a captive audience.  This caused prices to skyrocket.  The same politicians who promised that Obamacare would substantially lower costs are promising that Build Back Better will lower costs. 

"Free" pre-K and "free" daycare will lower out-of-pocket expenses for some subsidized people, but costs will skyrocket for everyone else because the providers will have a captive audience.  This free stuff will not lower inflation. 

When public schools get poor results, the solution is to always throw more money at the problem, which inflates costs.

Biden is right that competition in the private sector is one key to holding down inflation, so why do Democrats continually block competition to public schools that the public and minorities support?

Obama Wrong on D.C. School Vouchers and Hypocritical, Just Like Congress

When Biden sends the message to the world that the U.S is going to block drilling and pipelines and destroy the fossil fuel industry, it reduces competition, and prices rapidly go up.  It is a simple concept that Russia, Iran, and other OPEC countries love. 

When the government pays supplemental unemployment benefits, it inflates the labor costs to businesses and increases inflation.  It is a simple concept. 

When the government put a moratorium on rent payments, it punished landlords, and the surviving landlords have more power to raise rents.  They also must protect themselves from power-hungry politicians who might cut off their cash flow at any time. 

Rents for single-family homes are rising three times as fast as they were a year ago

When the Democrats increase regulations and taxes, it reduces productivity and increases inflation.  It is a simple concept. 

When Democrats look the other way as criminals rob stores and railway cars blind, it increases inflation.  It is a simple concept.

When government entities throw massive amounts of money at so many things, it increases inflation.  It is a simple concept. 

When the Federal Reserve prints massive amounts of money and keeps rates artificially low, it encourages government, individuals, and businesses to borrow more.  Everyone is essentially encouraged to chase up the price of stocks, cars, houses, and commercial property.  The low interest rates punish savers, and the higher prices punish the poor, the middle class, small businesses, and those on a fixed income.  The politicians, the bureaucrats, and the wealthy do fine and frequently get richer.

The resulting crash in prices after the period of high inflation will be a disaster. 

Basically, everything Biden and the Democrats are advocating is transferring freedom, money, and power from the people to the government.  The existential threat to our democracy and prosperity is real yet most of the media cheers.

I don't understand why people should have automatic respect for award-winners since a significant number are based on ideology instead of results.  Obama got a Nobel Peace Prize for speeches.  During his eight years, he did build up Iran and ISIS and catered to Putin, such as giving Ukraine blankets instead of weapons when Russia invaded.  Obama got the award for his vision of the world, not actual results. 

The Nobel Peace Prize for 2009 

The Committee has attached special importance to Obama's vision of and work for a world without nuclear weapons.

Trump punished Iran, held Putin at bay, got rid of ISIS, and got the Abraham peace accords, and there was no award. 

Poroshenko asks Obama for weapons, obtains blankets

Former governor Andrew Cuomo got an Emmy while sending people to their deaths in nursing homes. 

Al Gore's Inconvenient Truth film had a lot of misinformation in it to push an agenda, yet it won a documentary Oscar and a Nobel Peace Prize.

An Inconvenient Verdict for Al Gore

Win some, lose some? U.K. court cites errors in "An Inconvenient Truth."

One day before Friday's announcement that he was a co-winner of the Nobel Peace Prize, a British High Court judge ruled that Gore's global warming film, "An Inconvenient Truth," while "broadly accurate," contained nine significant errors.

Burton found that screening the film in British secondary schools violated laws barring the promotion of partisan political views in the classroom.

Gore's "Inconvenient Truth" wins documentary Oscar

The Washington Post and New York Times got Pulitzers for spreading lies to destroy Trump.  There was never any factual evidence to support their reports, which were meant to mislead the public and influence elections. 

Trump: Pulitzers awarded to NYT, Washington Post should be revoked for 'fake' Russia coverage

The awards were given in 2018 for what the Pulitzer Board described as "deeply sourced, relentlessly reported coverage in the public interest that dramatically furthered the nation's understanding of Russian interference in the 2016 presidential election and its connections to the Trump campaign, the President-elect's transition team and his eventual administration."

No matter how wrong Fauci and the WHO have been, they are treated as infallible experts by the media and the Biden administration.

Why should we trust former intelligence officials when fifty of them were willing to intentionally cover up the Biden family corruption by calling it Russian misinformation before the election?

Summary: Don't have too much respect for award-winners or so-called experts.  Many are pushing an agenda and aren't smarter than the rest of us.  Always do your own research, and never trust anyone who says the science is settled to cut off debate.  Debate should never be cut off.

Photo credit: David Monniaux, CC BY-SA 3.0 license.