Serial crypto scammer Jake Paul has blamed US President Joe Biden for a long list of economic ills, including high inflation and plummeting cryptocurrency prices.
According to Paul, who led Twitter to air their many grievances with the president, the people who still trust Biden are the “American problem.”
As Paul sees it, four major ongoing economic problems can be blamed on Biden.
- highest gas prices
- worst inflation
- Plummeting price of cryptocurrencies
- The highest rental prices in history
Paul also threw the fifth charge at Biden’s door, claiming that he has “created [a] new incomprehensible language.”
This defect, although serious, is not exclusive to the current president. Previous officials, including George W. Bush and Donald Trump, also had a habit of twisting language past its breaking point, suggesting clear-headedness is not a prerequisite for the job.
“If you’re reading this and you voted for Biden and you still don’t regret it, then you are America’s problem,” Paul said. The drunken YouTuber added: “My generation, left or right, agrees with me. We need the president of our country to do better. [sic]”
The king of bad financial advice
While ordinary Americans may be struggling with current economic conditions, those who turn to Jake Paul for financial advice are struggling even more deeply. The YouTuber has promoted a number of scams and disastrous crypto projects, leaving ordinary investors penniless.
Most recently, Paul promoted the NFT rug pull and Pokemon Animoon scam. Its founders disappeared with $6.3 million of investors’ money. Paul also promoted Sacred Devils, Yummy, Milf and STICKDIX, the latter of which is as childish and profoundly stupid a project as its title suggests.
The only thing that connects these projects, aside from Jake Paul, is that they all ended very badly for investors.
While Paul’s concern for the finances of the American public might be laudable, his personal history of exploitation suggests that these concerns have never extended to the financial well-being of his own fans and supporters.
the blame game
The complaints Paul has filed against the president come as the US faces a worsening economic climate. Inflation is now 8.6%, the highest since December 1981. The US dollar is devaluing faster today than at any time in the last 40 years. So who’s to blame?
In May, Bitcoin investor Anthony Pompliano summed up the roots of America’s current economic woes: During the 2020 covid crisis, lockdown policies triggered a liquidity crisis in the stock market. That was combated with massive amounts of quantitative easing and low interest rates, flooding the market with cheap capital.
In June 2020, while Trump was still president, the Fed printed more money in a single month than in the first two centuries of its founding. However, once Biden took office, the quantitative easing policy was not reversed. In fact, the printing of money was only accelerated by Biden’s $1.9 trillion stimulus plan.
As Jeff Bezos pointed out in May, the current president wanted to go even further. Bezos is clear that Biden’s $3.5 trillion to fund the “Build Back Better” plan could only have accelerated and deepened the current crisis.
It’s clear that Biden’s problems aren’t all of his own making, but less clear that the president had the foresight to change course. Inflation is now a great demon that sits on the President’s back. With the cost of living rising for ordinary Americans and the US midterms coming in November, it’s a devil Biden will want to deal with. As for the social media demons, he can safely ignore them.
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