Biden’s Inflation Nation

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Inflation nation here to stay just like we told you. Anyway, the media out there for a while has been, you know, applauding and oh my God, what a wonderful job. The Fed is doing the Biden administration inflation is coming down.

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Again, I think that they feel that if they repeat the same thing over and over and over again, I guess the lie will become the truth. That old saying, the beatings will continue until morale improves. Well, you know, as far as inflation is concerned, you know, the beatings haven’t been as heavy, but we’re still getting beat over the head.

It was funny today. I grabbed, you know, you try to look at the various different media outlets, how they go about covering this. The Wall Street Journal had a paragraph here. And it was kind of like, it was odd. It was almost like the writer had a bit of an epiphany. He says that while inflation, which is the rate of price increases has slowed, the level of prices is still far above where they were before the pandemic, especially for goods.

that most Americans buy often like groceries. I’m sorry, I gotta file this under no shit, Sherlock. I mean, great job. Great job figuring that one out. Oh, you mean to tell me, you know, the things that people buy every single day, how they’ve, you know, the prices haven’t come down and they’re still way up, that that’s not, that’s not affecting people all across the country?

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It’s comical if you actually think about it. You look at the things in here, and now as well, the shelter index is increased. The cost of rents, the cost of housing has not come down. You know, we’re also dealing with the fact that, gee whiz, I mentioned here on the podcast, you got government rules and regulations, you got housing units coming off the market,

You know, landlords can’t charge what they would like to charge, not to mention the fact you’ve got. You’ve got, you know, housing that’s being used up due to migrants. Migrants, one of the inflationary items here was hotels. The cost of hotels and, hey, gee, you know, you’ve got entire hotels that have been used up, particularly in New York City, that are housing migrants.

So again, it takes units off the market, makes prices go up. They finally started to account, and then this is, you’re gonna get a kick out of this. And anybody who pays the bills and knows what you’re paying for car insurance, the Motor Vehicle Insurance Index increased 1.4% in January.

Yeah, I wish it was up 1.4%. That would be fantastic. Boy, that would be a step in the right direction as far as I’m concerned. Everybody take a look at their auto insurance bill. These are costs that people, things that people have to buy. People, you gotta drive a car, you gotta have car insurance. You own a home, you gotta have home insurance. You have to buy food.

You have to buy all of these things on a regular basis. And these are the things that are affecting people. You know, I stated this before, you know, the reality consumer prices, this is a whole, I don’t wanna, this is as a whole, are up almost 20% in Biden’s three years. Over Trump’s four years, they were up 8%, which quite frankly is too much. 20%, 20%.

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So unless you have seen a raise, unless you’ve made more money that is commensurate with that, you, you’re not in a hamster wheel, you’re going backward. Two steps forward, three steps back. Guess what, you’re going backward. And that’s what the American people are feeling. Now, you know, eyes go to, oh geez, now the Fed may not lower rates so quickly.

me explain to everybody something that I have been trying to get across for some time here. The Fed can’t fix this. They can’t fix this. And I think that they know they can’t fix this. So you know markets sell off because they’re like oh geez the Fed was going to lower rates because inflation has come down. They still might.

Again, trying to guess what the Fed is going to do. We’re also in an election year and politics may be brought to Veronica. What anybody says you get these people, all the feds, not political at all. Yes, it is. But the Fed can’t deal with. Government rules and regulations and issues that make our costs go up. Fed’s going to fix the problem when it comes to higher auto insurance.

You want, like I said, make yourself nauseous. Go see what you were paying for your car insurance three years ago, five years ago, compare it to today. It’s not like you got a DWI or got tons of speeding tickets or anything like that. No, no, it’s the government forcing people to buy certain types of cars that also cost a hell of a lot more when they get into accidents. It’s a myriad of things. You think the Fed can fix that? Jay Powell’s gonna fix that? What, by…

you know, messing around with rates? No, no. It is inflation nation and it is due to Washington, DC. It’s due to government rules, regulations, mandates, you name it. That is what’s driving up costs. It’s as simple as that. Oh, I know, you could talk about money supply and all the money that was pumped out. That didn’t help either.

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But do you think that that’s gonna have anything to do with getting our food costs down?

But we don’t have enough farmland here in this country? We don’t? Right, sure. Again, I’ve cracked jokes about this in the past. Fidel Castro. Fidel Castro, great line by Fidel Castro. Can’t think of anything so stupid as putting food into cars. Was he wrong? But no, no. But again, both Democrats and Republicans bend over backwards. Bend over backwards for Iowa and the Hawkeye Car Guy.

And oh yeah, we got to, we got to pump out as much ethanol as possible. Or we give certain carve outs and handouts and tax deals. You know, I’ll point to where I live here, um, on long Island, which has absolutely unbelievable farmland. But, um, what they do is they decide to turn it into vineyards that make crap wine.

Because that’s what they make. They make crap wine. Anyway, that wouldn’t be better to make food. Could be me. Call me crazy. That would seem to make a hell of a lot more sense. Anyway, Watchdog on wallstreet.com.