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THE STAGFLATION PRESIDENT: Joe Biden’s terrible economic legacy.

 

Another month, another bad report. On October 13 the Bureau of Labor Statistics announced that consumer price inflation, at an 8.2 percent annualized rate, was higher than expected through September. Americans continue to endure the worst inflation in four decades. They continue to experience a decline in real average hourly earnings. They continue to tell pollsters that the economic recession has arrived. Blerina Uruci, an economist at T. Rowe Price, does not like what she sees. “This is very troubling,” Uruci told the New York Times. “The trend is very troubling.”

 

Not at the White House. It doesn’t see any troubles. According to President Biden, the most recent BLS data are superfluous. After all, everybody already knows that “Americans are squeezed by the cost of living: that’s been true for years, and they didn’t need today’s report to tell them that.” As a matter of fact, Biden said in a statement, rising costs are “a key reason I ran for President.” And anyway, the situation is under control. “My policies—that Democrats delivered—directly tackles [sic] price pressures we saw in today’s report.”

 

End of story, thank you all very much, nothing to see here, move along, move along.

 

Just a minute. Biden’s reading of recent economic history is filled with evasions, half-truths, and “yarns.” They deserve comment and rebuttal. I don’t remember Biden staking his 2020 candidacy on inflation. He couldn’t have. The inflation hadn’t happened. It didn’t arrive until the spring of 2021. By which time Biden was living—during weekdays, at least—at 1600 Pennsylvania Avenue.

 

https://freebeacon.com/columns/the-stagflation-president/

 

 

 

Posted

So all of the Big Three authoritarian regimes are taking measures to increase inflation. China's excessive covid measures is causing supply chain issues, Russia's invasion and Saudi Arabia cutting oil production. Just a coincidence I guess? 

 

Ya right 

Posted

You are correct.  COVID was a Global Psy Op East vs. West, we are now in the 2nd Stage (Western Civ economic calamity and implosion).

 

Taiwan will likely be invaded next.

 

The East saw a pathetic shift Leftward in Western Civilization and saw them ripe for disruption, and our Leftist leaders were happy to oblige.

Posted

 

CAROL ROTH: Biden’s plan to kill independent and gig work.

 

In late September, President Biden tweeted, “Capitalism without competition isn’t capitalism. It’s exploitation.” I agree, which is why it’s so frustrating that President Biden and his cronies keep trying to tip the scale and make it harder for the “little guys” to compete.

 

The latest affront comes packaged in a proposed rule from Biden’s Labor Department that is trying to make it harder for tens of millions of Americans to work freely. The department wants to reclassify millions of contract workers and freelancers as employees, a proposal tested in California under the “AB5 rule” that has already wreaked havoc there, which may now be codified nationally as part of the union-pushed “PRO Act” in Congress.

 

For context, approximately 32.6 million American small businesses account for close to half of the economy and half the jobs in the U.S. This highly decentralized half of the economy represents economic freedom and requires a fair and equal playing field. In return, they provide that competition necessary to capitalism to balance out the other half of the economy that is highly concentrated in the hands of 20,000-plus big businesses.

 

It is estimated that there are 57.3 million independent contractors, freelancers, and other “gig” workers currently in the U.S. These individuals, who come from all different demographic backgrounds and cover work specializations from caterers and film crews to writers and hairdressers, as well as your rideshare drivers, have myriad reasons for wanting to work independently.

 

 

The country’s in the very best of hands.

 

 

https://www.theblaze.com/op-ed/roth-bidens-plan-to-kill-independent-and-gig-work

Posted (edited)

Nice job Covidiots.  

 

 

The US economy is still running on a post-COVID sugar high that's about to run out and make 2023 feel miserable

 

 

Pandemic-era stimulus is gone, and rates are much higher. It'll make the 2023 recession hurt much more.

 

Households are already feeling pressure from high inflation, slowing wage growth, and dwindling savings.

 

Americans aren't likely to get more aid in a 2023 downturn, and as their financial cushions fade, the pain will worsen.

 

https://www.businessinsider.com/next-recession-forecast-economic-outlook-sugar-high-make-2023-miserable-2022-10

 

 

Do not let them blame the Republican Congress.  

 

Do not let them blame DeSantis in 2025.

 

 

This is all on Democrats.  All of it.  It's a 10 plus year disaster.  

Edited by Big Blitz
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Posted

Ok here's what going to happen.  The Fed will finally get inflation under control Q1 2023 or so and stop raising rates.  The market will take off and who do you think will take credit?  <_<

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