Leftists don’t fool me. They hate Joe Biden.
None of them figured Biden could kill the Trump economy. They had to believe that even Biden couldn’t ruin such a robust economy in less than HALF a presidential election cycle. But that’s what Captain Demento and team managed to do.
And now there will be hell to pay.
Aside from the worldwide devastation of a Biden presidency, Leftists hoped that Biden could keep the car out of a ditch long enough for them to arrange a new and improved version of The Big Cheat. Sadly for Democrats that didn’t happen, because that couldn’t happen.
So now, Americans are paying a serious price. As The New York Post explains:
American consumers continue to be weighed down by soaring levels of inflation as the consumer price index remained at a sky-high clip of 8.6% — the highest since 1981 — thanks to skyrocketing oil prices as well as the rising cost of food, rent and health care.
The 8.6% year-over-year figure is higher than the 8.3% that was predicted by analysts — and exceeded the 8.3% posted in April, when it dipped from 8.5% in March.
Did anybody really expect inflation to tick down two months in a row. Frankly, I don’t believe it went down from March to April.
Interestingly, if measured by 1980 standards, the inflation rate today would be 17 percent.
The article continues with more bad news:
On a month-over-month basis, the Consumer Price Index rose 1% in May — well above the predicted increase of 0.7% by Dow Jones experts and up from a 0.3% increase in April.
The so-called “core inflation” rate, referring to increases in the price of goods excluding volatile food and energy costs, was 6% on an annual basis, down slightly from the 6.2% rate recorded in April, but above economists’ 5.9% estimate.
The stunning jump in inflation quickly roiled the stock market. The Dow plunged 400 points at the open and was down 800 at 10:30 am. That came after it nosedived 600 points to close Thursday ahead of the release of the CPI data.
I’ve warned people who listen to my radio show, things will not get any better for Biden, the Democrats, or the country.
Still, those who set the fake narratives pretend to be in the know, try to convince us that we’ve peaked. Not true.
Analysts had hoped the US had reached “peak inflation” and that the CPI would begin to show signs of cooling.
But as long as the price of oil continues to climb, it is unlikely that the CPI will moderate.
“That’s what changed our view over the last few weeks,” Sarah House, a senior economist at Wells Fargo, told CNBC.
“We’ve seen gasoline hit record levels. And naturally what’s prevented the peak from being behind us is what’s coming out of the energy sector.”
By the time this article and the one’s referenced are finished, the price of gasoline will have hit a new record high. Further, the price of food went up, as did every other item consumers actually care about. Cars, shoes, even dogfood. If it had a pricetag, it’s rising by leaps and Bidens.