Posted on 05/21/2024 5:47:52 AM PDT by Red Badger
Well, we’ve pinpointed the big, ugly disconnect in the Biden economy, and it’s a massive YIKES. While Team Biden clumsily tries to sell us on the idea that the economy is fantastic and we’re better off than ever, the grim reality just got blasted out for all to see in one of the most alarming graphs ever. It shows that since Biden took office, household net worth has plummeted, sharply contrasting the financial stability many enjoyed under President Trump.
This graph once again proves that what we see firsthand everyday. The truth always “trumps” the Biden smokescreens and spin.
Inflation is shaping up to be one of the biggest deathblows to Biden’s reelection bid, and his flat-out refusal to acknowledge how awful his economy is will only make things worse, which is great news for us.
Fox News:
Gains in American households’ net worth have flattened during President Biden’s administration because of inflation, a new analysis finds.
A report by the Wall Street Journal analyzed changes in household net worth from the start of Biden’s presidency in comparison to those seen during the tenure of his predecessor and presumptive opponent in the 2024 election, former President Donald Trump. It found that in nominal terms, total household net worth rose by 19% through Biden’s first three years in office – a comparable figure to the 23% increase seen in Trump’s first three years.
However, when factoring inflation’s impact on household net worth, the data is less favorable for Biden. After adjusting for inflation, household net worth is up by just 0.7% through Biden’s first three years in office, whereas it was up 16% in Trump’s first three years.
At the time of Biden’s inauguration in January 2021, year-over-year inflation in the U.S. economy was about 1.4%. However, inflation surged due to global supply chain disruptions related to the COVID pandemic as well as elevated levels of government spending, peaking at a 40-year high of 9.1% in June 2022.
Typical. Biden can’t take responsibility for anything. The Fox News piece goes on:
The Biden administration has blamed global supply chain disruptions as the main factor causing inflation and has defended those pieces of legislation as providing critical financial support to American households as the economy dealt with the pandemic’s impact and addressing other pressing policy needs.
The White House has also pointed to other actions, like releasing oil from the Strategic Petroleum Reserve to give energy markets a boost, as ways it has looked to ease the sting of inflation.
The U.S. economy continues to experience elevated inflation, which came in at 3.4% in April. That’s well above the Federal Reserve’s target rate of 2%.
Bannon nails it. This is the sad reality of Biden’s cruddy, failed economy:
Unfortunately for Team Joe, all the propaganda and spin in the world can’t convince Americans that life is better now than it was under President Trump.
Biden or your lyin' empty bank account?....................
And just for fun, throw in a catastrophic wildfire. I’ve lost 90% of my wealth and my living expenses have doubled since Trump was in office.
Most people fail to understand it isn’t just current prices but that $100 in savings is now worth maybe $50.
The planned extreme government overreach across the world during Covidiocy has made a huge dent. It’s still happening, still trying to recover. 2 wars, all sorts of conflicts. Idiotic fiscal decisions. Regulations. Illegal immigration. All contributing to it. Leftists are clueless children.
It’s the economy, stupid ! Where’s Carville now?
The plan all along
obama oregon May 17 2008 “We can’t drive our SUVs and, you know, eat as much as we want and keep our homes on, you know, 72 degrees at all times, whether we’re living in the desert or we’re living in the tundra, and then just expect every other country is going to say OK, you know, you guys go ahead keep on using 25 percent of the world’s energy, even though you only account for 3 percent of the population, and we’ll be fine. Don’t worry about us. That’s not leadership.”
bkmk
So where’s this graph? It doesn’t show on FR or Revolver.
I see it perfectly well......................
All I get is that little icon, not the graph itself. Oh, well.
What browser are you using?....................
Bing.
But billionaires are doing great.
I bet you have the Microsoft firewall enabled.............
Could be.
The rise in value was sharpest during Trump’s fourth year in office, despite the China virus and the lockdowns.
Zeros third term.
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