Posted on 05/25/2022 10:37:00 AM PDT by RomanSoldier19
According to a recent NBC poll, only 33 percent of Americans think President Biden is doing a good job managing the economy. What do they know?
Biden has backed reckless government spending that led to a supply and demand imbalance, undermined our domestic oil and gas production, which helped drive energy costs higher, and encouraged federal handouts that kept workers on the sidelines. Overall, the president can take a good bit of credit for the runaway inflation that is hurting all Americans.
Now he can take credit for solving one cause of that inflation: the shortage of workers and consequent rising cost of labor. Unhappily, the fix entails more bitter medicine.
First, the Federal Reserve has finally promised to tackle soaring prices by raising interest rates and shrinking its balance sheet. The economy is already slowing and many now anticipate a recession. Sure enough, there are signs that the labor market is cooling. That will help the demand side.
Second, with stock and bond markets plummeting, Americans’ savings are being trashed, requiring some older Americans who thought they could comfortably retire to look for a job. That will pump up supply.
(Excerpt) Read more at thehill.com ...
But he’s still packing hundreds of thousands of illiterate dirt poor illegals into cities around the country. Makes sense to me.
Every President since Nixon has been contributing to rampant inflation. They’ve all engaged in deficit spending and debt increases. While Xiden and the RATs’ incompetence may have finally precipitated it, it remains that the debt bomb was created over time.
And most of the great people of the United States of America demanded free stuff and elected these insane spendthrifts. Very few hands are clean.
It’s called Equity.
To the “Progressives”, America has been living high on the hog too long. Our wealth came from stealing resources from poor nations. This is the “Big Get Even”.
Like a pressure cooker, it takes time to build up pressure but when it reaches a point, it is explodes,
We may have reached that point. Rocky indeed.
Well, I guess if you destroy enough jobs, you end the “labor shortage”...
BIDEN GREAT DEPRESSION 2.
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