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‘Shameless’: Famed Historian Blasts Biden For Blaming Inflation On Putin, Oil And Gas Companies

   DailyWire.com
Niall Ferguson, senior fellow at the Hoover Institution at Stanford University, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Wednesday, May 1, 2019. The conference brings together leaders in business, government, technology, philanthropy, academia, and the media to discuss actionable and collaborative solutions to some of the most important questions of our time.
Patrick T. Fallon / Bloomberg via Getty Images

Famed historian and author Niall Ferguson blasted President Biden for his refusal to accept responsibility for his mistakes.

Ferguson, the author of 16 books, appeared on Fox News with host Brian Kilmeade, who accused Biden of only thinking about scoring political points.

Ferguson then launched into a comparison of Biden with former Democratic President Lyndon Johnson, “who owned failure in Vietnam so completely that he did not run for a second term which he could have done in 1968,” adding, “It is shameless of Joe Biden, and his administration to deny their responsibility for the epic inflation fail that is hurting every American household today.”

“Their attempts to blame that on Vladimir Putin are laughable or to blame it on price gouging corporations which is just economic imbecility,” he snapped.

In mid-April, Biden told a crowd in North Carolina, “Putin’s invasion of Ukraine has driven up gas prices and food prices all over the world. Ukraine and Russia are the one and two largest wheat producers in the world. We’re three. They’re shut down. We saw that in yesterday’s inflation data.”

“What people don’t know is that 70% of the increase in inflation was the consequence of Putin’s Price Hike because of the impact on oil prices. Seventy percent,” Biden charged.

In early March, Biden attacked oil and gas companies vis-à-vis inflation, snapping, “To the oil and gas companies and to the finance firms that back them: We understand Putin’s war against the people of Ukraine is causing prices to rise. We get that.  That’s self-evident. But — but, but, but — it’s no excuse to exercise excessive price increases or padding profits or any kind of effort to exploit this situation or Ameri- — or American consumers — exploit them.”

Ferguson, once named one of Time magazine’s 100 most influential people in the world, argued that inflation was triggered much earlier that Biden would admit, declaring, “This problem began right at the start of the Biden presidency with the superfluous overshoot in fiscal stimulus that led the economy to overheat in such a predictable way that a former Democratic treasury secretary Larry Summers in February 2021, just weeks after the inauguration said it was gonna be an inflation mess and here we are. They should own that.”

Ferguson even made the dreaded comparison to the infamous failed presidency of Jimmy Carter, pointing out, “Jimmy Carter, you could have mentioned him, too. Jimmy Carter owned malaise, the inflation that occurred during his presidency.”

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