Why Biden’s Inflation Claims Are Completely Bogus
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the inflation BS, the inflation lies keep flowing. And again, Godfather reference.
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Don’t lie to me, it insults my intelligence and it makes me angry. Again, I’ve learned to take a deep breath. Calm down because that’s what they do, lie. So yesterday, yesterday, this is what the Biden administration put out. Today’s report shows that we continue to make progress fighting inflation and lowering costs for American households.
cost haven’t been lowered go where, where, where, where, where have your costs been lowered? Again, when they talk about inflation, reminds me of that old saying there with the beatings will stop when morale improves. Yeah. But just this state that statement was basically attributed to Joe Biden. Right? Sure. Sure. He put that out. Sure he did. So the the administration they’re patting themselves on the back. Because inflation in July clocked in at 2 .9%.
Meaning the value of your dollar is still dropping. Stuff is becoming more and more expensive. But like I said before, everything is less bad. What was it from the Lego movie? Remember, everything is awesome. No, no, no. Everything is less bad. Because that’s basically what they’re telling you. Let’s go back.
in time. Let’s go back in time.
Biden decided early on that he wanted to be a consequential president. And he had Napoleon syndrome. I think a lot of CEOs that have that too. And it leads to all sorts of problems. And he ignored all the advice, all the advice, actually from former people within the Obama administration. I didn’t think that, I probably shouldn’t have had people from the Obama administration telling him what.
to what my boss telling me what to do and hit people. No, they told him, no, don’t do it, Joe. Don’t do it. Don’t spend all of this money. So basically, they said, screw you. We’re spending money. And if you remember, Kamala Harris voted. She was a tying vote. That’s the job. That’s the vice president job to break ties in the Senate. One point nine trillion dollar American rescue plan.
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Do know if the economy was growing at a faster rate then than it was now? And they still say, hey, know what? Let’s spend $2 trillion. All of a sudden, inflation started to go through the roof. James Freeman had a great piece today in the Wall Street Journal. Again, they ignored the warning. They had no experience in the private sector.
The funny thing is, and he points this out, when the inflation reading came in, this is early on in 2021, came in at 2 .6%, lower than July, lower than July, Washington felt a need to try to explain why, it’s disturbing, this is not good. Okay, again, they were trying,
trying to talk their way out when it was at 2 .6 % back in 2021. They’re worried about it then, but at 2 .9 % now, hey, everything is less bad. Anyway, again, they felt a need. They had an anxious public out there.
What was the word people? What were we told? What were we told? What did we laugh at here on the program? What did we make fun of here on the program? Transitory. Yes, this inflation is just transitory. It’s not going to remain. It’s going to go away. From the Washington Post, April 2021.
Although inflation is edging upward, federal officials have stressed that the shift will probably be short -lived. As parts of the economy begin to normalize after more than a year of the pandemic, the new data highlights the drastic changes the U .S. economy has undergone in the past year when the pandemic unleashed havoc on consumers, businesses, and suppliers and compelled the White House and Congress to authorize emergency spending to tackle the crisis. This year, more than 120 million Americans have received at least one dose.
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of the vaccine and the Biden administration continues to roll out sweeping coronavirus relief package.
federal government’s massive spending program, drawn criticism from some market analysts and Republican lawmakers who’ve raised concerns about overspending and overstimulating the economy. The hundreds of billions of dollars in relief they claim could trigger long feared inflation, an argument that critics are likely to amplify with the release of the new data. But no, no, no, never fear. And back to the Washington Post here.
Federal Reserve and the Biden administration. Yes, your betters, your betters, the wizards of smart, all those wonderful economists that the Fed have pushed back against those claims, anticipating the climate and prices. In a blog post Monday, the White House officials said the main factors driving those upticks, including pent up demand and supply chain disruptions are expected to subside over time as businesses regain their footing.
After several months of modest gains, the officials foresee inflation fading back to a lower pace thereafter, and actual inflation begins to run more in line with longer run expectations.
Yeah. Yeah.
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money. Team transitory. Yep, they had a lot of power. Again, New York Times at that time. Don’t jump on don’t jump on the latest data. It’s backward looking information. It’s not a not a sign of what’s ahead. We could be on the verge of a golden era for inflation nonsense. The potential for misunderstanding derives from several forces crashing against one another all at once.
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since that 2 .6 % number, which concerned them, concerned everybody. Trying to talk it away back in 2021. The readings have been higher for 40 consecutive months. Watchdog on wallstreet .com.
