×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: stephenmoore | bubble | inflation | spending | bbb

Stephen Moore: 'Cheap Money' Has US in Dangerous Bubble

Stephen Moore: 'Cheap Money' Has US in Dangerous Bubble
Stephen Moore speaks at CPAC 2020. ( Samuel Corum/Getty Images)

By    |   Sunday, 02 January 2022 02:06 PM EST

After a year, if not years, of warning of a debt bomb, former Trump economist Stephen Moore is warning about an "inflation time bomb" and potential further Democrat spending, which should combine to concern investors in the near future.

"I continue to worry about the inflation time bomb," Moore told Sunday's "The Cats Roundtable" on WABC 770 AM-N.Y. "I fear with all this debt, and with all of this spending, and all of this money-printing, we are setting ourselves up for a fall. Again, I hope I am wrong about that.

"I really do worry about us inflating a bubble right now with all this cheap money. I'd be a little cautious in 2022 about massively investing in the stock market because prices are very high.

While the job market is encouraging and wages are up, inflation trumps any economic benefits of the former, Moore added to host John Catsimatidis.

"It is true that wages are up, but wages are not up as much as inflation is, and that has put a real hardship on middle-income and lower-income workers," Moore said.

"They've been getting a lot of money from the government in these giveaway programs. I don't think that's a long-term solution. In fact, you get a hangover effect from all of the debt and money-printing."

Moore has repeated his warning for the Federal Reserve Board to act sooner than later.

"We've got to start pulling back on the money supply urgently," Moore continued. "I think The Fed is behind the curve in dealing with the inflation crisis.

"Anytime you get inflation that gets out of control, that story doesn't usually have a happy ending."

Moore pointed directly at President Joe Biden's curbing oil production in the U.S.

"We're down 2 million barrels of oil production a day since Biden became president," Moore said. "That's a lot of money we're losing.

"You're talking about $52 billion lost to the U.S. economy a year."

And, Moore further lamented, Biden is asking foreign suppliers to up their output.

"Why would we want to get our oil from Saudi Arabia, from Iran, from Venezuela," Moore continued, "when we can get the oil from Texas, Oklahoma, North Dakota, Alaska, West Virginia and states like that? It just doesn't make a lot of sense."

Finally, on the Build Back Better Act, Moore warned Sen. Joe Manchin, D-W.Va., might still jump on board with Democrats.

"Can we trust him to stay a no, or is he going to cut a deal with Biden?" Moore asked.

"Because I don't think there's anything in this bill that is worth saving. It's a terrible bill. It's bad for America. It's going to make inflation worse. And it's going to make our energy crisis worse."

© 2022 Newsmax. All rights reserved.


Newsfront
After a year, if not years, of warning of a debt bomb, former Trump economist Stephen Moore is warning about an "inflation time bomb" and potential further Democrat spending, which should combine to concern investors in the near future."
stephenmoore, bubble, inflation, spending, bbb
457
2022-06-02
Sunday, 02 January 2022 02:06 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved