What would you expect the Biden economy to do? I ask this question seriously.
After all, Biden is an incompetent liar. So why would anybody be surprised that his economy is built on lies? Let’s look at the first lie.
Year One of the Biden economy is the Trump economy. Biden lived on the muscle-memory of the best economy in modern history. This fact happened despite Trump being tricked into adding trillions of debt to fund a scamdemic.
Biden’s misuse of this money to reward Big Pharma and the nation’s blood-sucking leches, aka lazy Democrats, and you get Part I of Biden’s economic lie.
By having this availability of funds, Biden felt comfortable. He fire-cannoned money into an economy backed up by nothing he created, and worse, what he destroyed of Trump’s economy.
As former Clinton Treasury Secretary Larry Summers — the man who predicted President Joe Biden’s inflation — commented:
“I think when inflation is as high as it is right now, and unemployment is as low as it is right now, it’s almost always been followed, within two years, by recession.”
With all due respect to Summers, you don’t need to be an expert or a fortune-teller to know where Biden was headed.
Year Two belongs solely to Biden.
His destruction of Trump-era policies accomplished what any astute person would have predicted. The economy would experience massive inflation.
People say that the economy was hot, and Biden pumped unnecessary money into it. I disagree. This economy wasn’t hot. This economy had far too much “fake” money, dating back to the Obama Era.
Obama “saved” the economy by doubling our national debt. As I said on my radio show, “A monkey could have saved the economy if you gave it $10 trillion!”
The debt-service on $20T was untenable, yet we added another $6T due to the scamdemic. So as they say, “We are where we are.”
We spent trillions on this scam, and now we are throwing away millions, perhaps billions of dollars in useless vaccines; vaccines that never should have been manufactured in the first place. Do you know any business that could sustain such waste (and fraud) and survive?
Now, inflation is through the roof; kept only in check by the change in how inflation is calculated. Because if you believe inflation is at 8.6 percent, then I have a mountain to sell you in New Orleans. To quantify, if you calculate today’s inflation, using the 80s calculation, we are closer to 17 percent inflation.
Compare prices at the end of the Trump administration to understand the devastation of Biden’s policies.
$2.79 average gasoline replaced with $5.00+. Increased rents, food, and services with no end in sight. With prices rising across all sectors, prices will continue to rise. Like Trump recently said, he made it where we could buy those “big beautiful trucks,” and now no one can afford to drive them.
The stock market recently gave back ALL its gains, including that Year One Trump growth. Currently, the market sits at almost 3 percent less than when Trump left office in The Big Cheat. You can bet that the handful of people who voted for Biden regret that vote. At least their portfolios do.
Speaking of portfolios, consider the devastation Biden reeked onto Americans’ savings accounts, 401(k) accounts, and emergency funds. And woe is the person on a fixed income. Or the families trying to feed a table full of teenagers. Talk about being starved out of existence by Biden.
Biden knows his policies are wrong. He actually said it last week: “I don’t want to hear any more of these lies about reckless spending. We’re changing people’s lives!”
Sure. Biden is changing lives…for the worse.