I would say that i am political because i know what is normally going on with DC and i love to make fun of both the left and right, but you will NEVER find me trying to push my opinions. With this being said, one of my favorite people to make fun of in recent years has been my girl AOC (this is not because i might have a crush on her). She has a fantastic story as the youngest woman and Latina to serve in Congress at the age of 29 and most people know that she went from being a bartender (do you capitalize that?) to a Congresswomen (you definitely capitalize this). She has turned into a pop culture icon and someone who can get any old white guy mad and her Met Gala appearance might be the first that resulted in an Ethics complaint (old white guy complaint). We should be honored and thrilled that we’ve gone from the hideous founding fathers to girls that are far out of our leagues.
Before i go after her knowledge of basic economics/finance, I am not expecting AOC to be a PHD and able to chat me up about game theory or contango (any girls that can, HMU). But i thought that her Bachelors from Boston University would have taught her this. She provided us with my favorite house moment of all time (can’t believe i typed that), during a House Financial Services Committee hearing in 2019 she had to inquire about the caging of children by Wells Fargo, to the CEO, Tim Sloan (1:37 in the below video) and other wild lines of questioning. It is quite comedic and shoutout Tim Sloan for not absolutely losing his mind.
But tonight, we got one of the greatest economic tweets of all time.
Ok, i will admit that not everyone may be fluent in economics and the monetary theory of money, even if she has a degree in it. Well Ms. Congresswoman, here is ANOTHER lesson on why increasing the money supply only continues inflation. I didn’t want to mansplain (oops gender reveal) so here is an academic answer to the question “Why can’t we (government) print more money?”
If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.
“In a simplified model, printing money will just cause inflation.” Shoutout my girl AOC who couldn’t be more wrong, but it is MDW so she may have been down at D’Jais down on the shore and had herself a Sunday Funday. But if she can’t read at the moment, here is a quick graphic from economicshelp.org:
Well if this quick lesson on inflation didn’t help AOC, I am not sure what to say but Tax the Rich.
Wendall World 