If you think Afghanistan went badly, compare it to 7 months of crackhead-led American economy. America’s play president has nothing but spin.
If it weren’t for Team Demented led by Captain Demento printing $6 trillion of funny money, the economy would actually register the real triage. But as Afghanistan proved, Biden’s incompetence will undoubtedly show itself.
And it has. Again.
The August employment report disclosed Biden’s larceny. And based on the numbers, the economy had slowed significantly in the back half of the summer.
Nonfarm payrolls figure revealed only 235,000. That’s more than a half-million short of the consensus estimate of 750,000.
Frankly, why even guess? That’s what we call in sales a WAG: wild ass guess.
And no expert should miss the number by that much. Sadly, many so-called experts did exactly that with figures ranging from a low of 377,000 to the larger figure reported earlier.
Understand that taking the lowest number, Biden still missed the mark by almost 40 percent. So, saying the “number missed expectations” represents a real euphemism for the obvious: Biden’s economy is a catastrophic failure.
People paying attention noticed the real anomaly. In the July/August timeframe factory orders grew, however inflation outpaced growth. Wages reportedly rose as well. However again, inflation outpaced that growth.
Anybody shopping for staples noticed this anomaly. Food rose considerably, as did gasoline. Ordinary people felt this impact much more so than the wealthy.
Further, for anybody building a house or doing rehab on a home, the prices soared, making homes almost unaffordable for first-time home owners.
While Joey Demento made Juneteenth a national holiday and tried to install critical race theory in the government, those were merely band-aids to cover his troubling black-white jobs gap.
The black-white jobs gap plummeted to historic lows under President Trump. Contrast this with Biden, where black unemployment rose in the month and white unemployment fell. Consequently, among adults, black unemployment rests at more than twice the rate of white unemployment.
Other indicators of a bad economy is the length of the workweek.
Because fewer people want to work, the workweek dropped to 34.7 hours. Although the labor force participation rate was unchanged at 61.7 percent, this is not good news for Biden. Essentially, the higher wages did not induce people back to work.
But don’t let this bad news dismay you. Because you can bet Biden will describe the piss he’s taking on the American economy as rain.
How long does this administration believe it can rely on COVID-19 for its excuses?
Democrats intentionally killed the economy with the idea it would roar back after the coup of Trump. But clearly they have no idea how to do this as they continue to sell uncertainty.
Sadly for Americans, we remain pawns in these Leftist political games. Yes, games.
For Democrats and other Leftists, they only want to win, even if their way makes us all lose. Few people want to work, and this includes teachers; a great representative group for Leftists.
Supposedly, summer was to bring in prosperity. That didn’t happen. So now Leftists and economists wonder how this will impact the retail season.
I predict America will experience the worst retail season in at least 5 years. So much for the prosperity Biden promised. Build back better?