it s economic and political. let s not forget that jimmy carter lost his presidency to ronald reagan 40 years ago because of out of control inflation. i don t think joe biden wants to suffer the same thing. inflation is running at 5% to 6%. shannon. and wages are up by about 4%. so, it s not hard to understand the math there. the people s paychecks are shrinking under this president was prices are rising. there s no sign of inflation abating. i will say one other thing about this, if you re worried about inflation as i am, i think most americans are, that s the worst possible thing you could do is pass a $5 trillion debt bill that s paid for by printing money that would make inflation much, much worse. shannon: a slew of recent polls show the americans are keenly aware of the inflationary spike that s going on and they re concerned. it s one of their top concerns. meanwhile, it s a tough week for the democrats trying to get it done, especially with theth be
to gdp has really been on pins and needles. i think we are going to see some fertile ground for additional stimulus and perhaps qe 3 by the end of the year. do you think that they can ignore the wall street journal and others, the editorials saying that they ve already possibly created an asset bubble criticizing qe one and two? i think they can. i think it s their job and their mandate to continue to do something with the economy so we are in a growth recession. the most likely snare joe is we avoid a double dip recession. that said we re not going to have growth that s enough to take the fed out of their mandate and feel that they re comfortable with inflation picking up. now commodity prices have fallen and they can point to inflation abating as unemployment continues to rise. these are issues the fed has to act on. even though they have the criticism out there, that has not stopped ben bernanke yet and i don t expect him to stop going forward. does this weakness and the