Speaking to Newsmax ahead of the Labor Department's Consumer Price Index report, former White House trade adviser Peter Navarro tells Newsmax that the Biden administration will induce a recession, keeping wages down, in order to control inflation.
"The strategy here folks," Navarro says in his "Eric Bolling The Balance" appearance, "the way Biden and the Fed are gonna control out-of-control inflation is induce a recession, and keep your wages down."
"There's some estimates that just came out," Navarro adds, "that says it's gonna take two years to reduce inflation by 2%, and those two years the unemployment rate is gonna be close to 7%."
President Donald Trump's former trade adviser notes that one of the problems with the economy is the pandemic policies that continue to hamper supply chains.
"The problem is that our supply chains are broken, our supply chains are offshore, and therefore even more broken ... Until we return to strategic energy dominance ... we're going to be paying more and more and more for our cars or gasoline or natural gas."
"So there's all these forces gathering," Navarro concludes, "that Biden doesn't want to tell you about: he's looking at November. He's going to try to slip things by you. But folks, you know what's happening here. You're getting poorer by the day. Even if your wages are going up, inflation is going up faster."
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