But you know, I started my business in 1979, so it was in the middle of Carter's stagflation. And the reason I've been predicting stagflation, as soon as really Biden came into office and they passed a $1.9 trillion Covid relief package when [there was] about a trillion a quarter dollars still unspent from the previous 4 trillion. Okay. Is because in 1979, 1980, when I was running the business, price increases were just expected and accepted. The only question, was it going to be 7% or 8% or 10%, whatever. (06:24–06:33)
CLAIM
Asserts that the Biden administration passed a $1.9 trillion Covid relief package with significant unspent funds from previous relief efforts.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
