Posted on 07/17/2022 3:26:27 AM PDT by Libloather
The June inflation numbers are a disaster, coming in at a 40-year high of 9.1%.
After the Biden administration’s repeated victory laps crowing about “ the fastest-growing economy in the world ” and how we’re “ stronger economically ” than ever, the downward spiral is feeding a growing consensus that President Joe Biden and his Democrats in Congress are actively making things worse.
According to official numbers , prices rose 1.3% on the month, which translates to an annualized pace of nearly 17%.
Controlling for manipulated housing statistics , the numbers are even worse: 1.7% on the month , which comes to 22% annualized.
These price hikes are crushing families. Real wages are down 3.7% over the past 12 months, nearly a 40-year record, meaning a typical family now pays more than $1,900 a year in inflation tax.
Ominously, the June figures show huge price jumps in staples such as flour, eggs, and butter that are essentials for families.
Meanwhile, the broader economy is flashing warning signs.
On July 12, the widely watched NFIB Small Business Optimism Index fell to its lowest level since the 2008 financial crisis. The index now is substantially lower than the recessions in 2001 and 1991, in fact lower than the worst depths of the COVID-19 lockdowns. Small business, the lifeblood of our economy, is on life support.
It wasn’t supposed to be this way.
Given last year’s inflation, Wall Street and the Fed expected the year-on-year number to slow down , especially as they thought price hikes were caused by COVID-19 and would go away soon. Instead, inflation is accelerating.
Indeed, Federal Reserve Chair Jerome Powell in effect threw up his hands, admitting recently: “We now understand better how little we understand about inflation.”
(Excerpt) Read more at washingtonexaminer.com ...
I’m pretty sure the actual number is into the double digits, like 20%.
Dittos. The actual number of the rate of inflation is still being gravely understated. The “misery index” is way up there with in the worst days of the Carter stagflation.
“The “misery index” is way up there with in the worst days of the Carter stagflation.”
And we’re only 1 1/2 years into the Joementia conflagration.
Since the Dems will try to put all the blame on Biden as they dump him, w can’t let them excuse all the rest of the liberals. We need to keep emphasizing how all of them and their entire agenda are to blame.
9.1% ...isn’t that the corrupted pervert clowns approval rating?
True dat.
American Citizens, American voters....why waste time fawning all over the failed, fake, POTUS, Democrat, Joe Biden and his entire Democrat party!!!!
Americans, “One & ALL”.....Immediately, Contact your Senators and Representatives and demand that they either impeach incompetent POTUS, Joe Biden, or remove him from office...by forcing him to resign....period. For goodness sake the Israeli’s laughed at him behind closed doors and the Saudi’s worked him like a child puppet on their strings!!! Americans.....your future destiny in your own hands!!!
Prices on certain canned food items at Walmart, went up 33 to 56 percent under Joe.
Soups and vegetables. Happened in March.
“..9.1% ...isn’t that the corrupted pervert clowns approval rating?...”
Yeah. They probably got em swapped around and probably not by accident.
Approval rating: 9.1%
Bidenflation: 22%
We’ll be lucky if the whole country doesn’t collapse under this administration.
I’m not thinking about 2024.
I’m hoping we can survive to 2023.
“I’m hoping we can survive to 2023.”
You and me both.
This Biden crap almost makes me look at the Carter years with a bit of nostalgia.
Almost.
It’s not just Brandon.
It’s the whole RAT party that’s to blame....along with the RINOs. (UniParty hacks)
PedoPete is taking all the blame, but it’s ALL these communist SOBs that are to blame...the whole damn bunch. And that includes our own “beloved” RINO/Assistant RATs. They’re as much to blame as Brandon. Their stench is especially gut-wrenching.
Then we would have President Kamala Harris. Whoever set this up planned it well.:(
The handle has been intentionally pulled.
The commode has been intentionally flushed.
The whirlpool has formed.
We are circling the drain.
It is too late to be stopped.
Prepare for a wild ride in dark and unknown sewers.
Few understand what is happening, even at this late time.
Few understand why we are going down.
Most just listen to the calming sound of the running water and say everything is okay.
Good analogy!
Just trust in the Lord our God. He has it all under control and though it will be a wild ride, we already know the end of story and how it all turns out.
Just another example. We went to Burger King Thursday for the first time in a while.
A value whopper meal is now 9 bucks. When Sleepy Joe came to office it was about 6 something. I’m still making the same income.
Brandon is not really worried.
“..Brandon is not really worried....”
Most dementia-rittalled morons aren’t.
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