Bidenflation Rises To 14.8%, Hurting Americans

TippInsights ^ | 4/14/23 | Editorial Board

[CFW]

This week in a press conference, Treasury Secretary Janet Yellen stated that the U.S. economy is doing exceptionally well. "As I mentioned, the United States is doing extremely well economically, with inflation coming down in a strong labor market, and Europe is doing better than was feared at our last meeting."

Contrast this to what real Americans think. In a recent IBD/TIPP Poll, over one-half (55%) believe the economy is in a recession, and another 56% (57% in March) think the economy is not improving.

We welcome any good news.

We always take Yellen's pronouncements with a pinch of salt. Recall that in mid-2021, she double-teamed with Fed Chairman Powell, leading us to believe that U.S. inflation was "transitory," defying commonsense. Even backbenchers knew inflation was taking a stronghold, which peaked at 9.1%

[CFW]

This article has the true numbers on inflation. Be assured that it is not your imagination regardless of what the media insists that you believe. Yellen is either suffering from Bidenmentia, which appears to be contagious among Biden appointees and advisors, or is deliberately clueless. As the article mentions, recall that she was the one who insisted almost two years ago that inflation would be "transitory". And the mockingbird media repeated that word ad nauseam for months as they insisted that inflation was both non-existent and temporary.

[NWFree]

About the same as his true approval numbers

[CFW]

More insights from Yellen reported yesterday.

https://www.cnbc.com/2023/04/15/yellen-says-us-banks-may-tighten-lending-and-negate-need-for-more-fed-rate-hikes.html

“Yellen says U.S. banks may tighten lending and negate need for more Fed rate hikes”

“U.S. Treasury Secretary Janet Yellen said banks are likely to become more cautious and may tighten lending further in the wake of recent bank failures, possibly negating the need for further Federal Reserve interest rate hikes.

Yellen said in a CNN “Fareed Zakaria GPS” interview that policy actions to stem the systemic threat caused by last month’s failures of Silicon Valley Bank and Signature Bank had caused deposit outflows to stabilize, “and things have been calm,” according to a transcript released on Saturday.”

********

They know that interest rates can not keep increasing no matter the harm caused to the citizens because of inflation. The interest on the ever-increasing U.S. debt is their main concern. That’s why they need a debt-limit increase so badly, in addition to more tax-revenue streams.

[dragnet2]

2 years ago.

Trump predicts a ‘steep depression’ if Biden wins the election

United States President Donald Trump says a major economic collapse will be the price paid by Americans if the Biden-Harris administration wins the upcoming election.

https://www.youtube.com/watch?v=Zo49IOxrfFQ

[linMcHlp]

http://www.shadowstats.com/alternate_data/inflation-charts

[TigersEye]

[Tupelo]

Inflation Calculator
If in 1912 I purchased an item for $1.00
then in 2023 that same item would cost: $30.49
Cumulative rate of inflation:2948.8%

Joe 81millionvotes Biden is simply carrying on a 110 year old tradition started by the second Progressive president, Woodrow Wilson.

[KC_Conspirator]

Holy crap

[know.your.why]

Amazing how every liberal politician says that the U.S. economy is doing exceptionally well. And why would they care anyway? WE pay ALL of their bills.

[Sequoyah101]

Can’t afford the insurance on an old car let alone an new one.

[Organic Panic]

But it could have been 25% so it’s all good.

(BTW. EVERYTHING in my neck of the woods is double what it was pre chomo Joe.)

[GOPJ]

She’s the bimbo that said inflation was transitory... like a year ago or so, right?

[CFW]

“Trump predicts a ‘steep depression’ if Biden wins the election”.

I recall him saying that and I believe he is right. I suspect the upcoming steep recession will be short-lived. At the rate we going we will move straight from a recession into a depression in a very short amount of time.

[CFW]

“She’s the bimbo that said inflation was transitory... like a year ago or so, right?”

You have the correct bimbo in mind. And it was almost two years ago that she uttered those words. Yellen has been consistent, that’s for sure. Consistently wrong in her predictions. She, Krugman, and Cramer should start an investment advisement firm. Everyone would know to do the opposite of what they recommend.

[dila813]

I was shocked about how much eggs went up in the last 3 weeks looks like you went up another 20%

[Sacajaweau]

went down here in upstate ny

[clearcarbon]

"Yellen is either suffering from Bidenmentia, which appears to be contagious among Biden appointees and advisors, or is deliberately clueless. "

While on the surface they may appear to not care about the damage they do, I suspect that at least some subconscious level, they are terrified they may be finally be held accountable for their behavior.

[Danie_2023]

“Can’t afford the insurance on an old car let alone an new one.”

No worries. The DS left is working feverishly to make shock sure that you won’t be able to afford gas to put in the old car anyway. And if that fails, they have backup plans to regulate the old car into non-existence.

[Danie_2023]

“While on the surface they may appear to not care about the damage they do, I suspect that at least some subconscious level, they are terrified they may be finally be held accountable for their behavior.”

And in a normal, sane and seemingly perfect world....their terror would be justified. Alas....in ‘this’ world they’re safe.

[semimojo]

There’s a lot of competition but this may be the stupidest financial article ever posted on FR.