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December 4, 2022

Financials Matter

"It's Not Just About Finance"

Wall Street’s Sanctimonious Hypocrisy

The fact that Wall Street is getting behind the new Inflation Reduction Act is more proof of their sanctimonious hypocrisy.

Huh?

Former Goldman Sachs crony and former US Secretary of Treasurer, Larry Summers, chimed in his two cents worth on the new bill by saying, “I think that the total effects of this bill could very likely be positive.”

Question for Larry…Positive for who?

Keep in mind this is the same guy who said the Biden administration’s post-pandemic stimulus efforts would stoke inflation.

So, all of a sudden, the Biden administration’s new $700 Billion bill – allocating a minimum of $390 Billion towards Climate Change – is somehow going to reduce inflation?

And to pay for it all, in addition to alleged health care savings, the bill makes three changes to the tax code.

Translation: Funding for the printing of nearly ¾ of a Trillion – much of which likely will go into the hands of the favored few – will be paid for by us the taxpayers.

And this is supposed to reduce inflation?

Sorry folks, but government spending and printing money out of thin air is what causes inflation.

 

Sanctimonious Hypocrisy on Steroids

 

Creepy guys like Summers preach about how this bill adds in a new corporate tax to corporations.  And he wants to make it sound like they’re sticking it to the Fat Cats on Wall Street.

But…and this is a Very Big Butt…

Whenever it looks like Wall Street is going to foot the bill for billions of dollars – printed out of thin air – they end up winning the lottery.

Henceforth the term ‘Sanctimonious Hypocrisy.’

Oh, and don’t forget, this “Inflation Beater Bill” will put aside billions to help the IRS chase down tax dodgers.

And you can rest assured the tax dodgers won’t be Wall Street.

Meanwhile, the climate changers will have a field day scalping billions for their “green” start-up companies.

And the sad truth of this is how Wall Street will rake in billions more in additional fees from these start-ups.

Does anyone still remember Obama’s famous ‘Green Energy’ start-up SOLYNDRA?

Go ahead and google it.

The point here is simple.

The Dems are desperate for a win before the elections.

And by putting lipstick on this pig (Inflation Reduction Act) they need Wall Street’s support.

 

Read: What Can You Do About Wall Street Corruption? May 26, 2021.

 

Learn how to beat this inflation beater bill before it beats you out of more of your hard-earned dollars (HERE).

And share this with a friend

They’ll thank YOU later.

We’re Not Just About Finance.

But we use our 111+ combined years of experience to give you hope AND expose Wall Street’s Sanctimonious Hypocrisy.

https://www.financialsmatter.com/category/in-plain-english/

 

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