Dr. Peter Navarro is warning the world about stagflation on the horizon as a result of insane Biden policies. He was on Steve Bannon’s War Room to discuss the scenario.
Dr. Navarro was on with Newsmax as well:
If it was just inflation affecting the United States, that would be “manageable,” but instead a “stagflation” problem like the one that hit the nation in the 1970s is occurring under President Joe Biden, former White House trade adviser Peter Navarro told Newsmax on Saturday.
Federal Reserve Chairman Jerome Powell is “printing money,” Navarro told “The Count.” “That’s driving us to what we call demand-pull inflation. But then at the same time, we have the pandemic, coupled with the effects of the Biden administration cracking down on fossil fuels, giving us what’s called cost-push inflation.”
But during the Trump administration, “we were the Saudi Arabia of natural gas,” Navarro said. “One of the great triumphs of President [Donald] Trump was strategic dominance. The energy sector had the ability to export petroleum for the first time in 50 years.”
Now, under Biden, energy prices are going up quickly, which also drives up food prices.
“Meanwhile the supply chain is absolutely in tatters,” Navarro said. “When I was in the White House with President Trump it was to buy American, hire American, bring out manufacturing onshore. When you do that, you bring the supply chains onshore and you eliminate that risk of interdiction that we have now when the corporations love to offshore jobs.”
Peter Navarro was on with Steve Bannon on his War Room warning about extreme stagflation as well.
The economy is the next major mistake of the Biden Administration and Americans will continue to suffer from this senile tyrant.
SOURCE: The Gateway Pundit