War is no longer a battle between two foes while the world watches for the outcome, especially when the struggle involves countries in the Middle East. With Joe Biden putting the American petroleum industry in chains, the Middle East has regained prominence as the region supplying the majority of oil to much of the world.
We have seen a general slowdown in the U.S. Economy in the last few weeks, and many are making a case for an impending recession. America is officially at about a 3% inflation rate, but that is a cumulative number, and the actual year-over-year inflation is reported to be around 19%. We need a correction as reality is even worse than the reported stats, as those stats are manipulated by which categories of the economy are included.
Donald Trump made comments from outside the courtroom in New York City, where he is in the middle of a civil trial. He is being sued for fraudulent business practices by the City of New York. He laid it out perfectly how, even with the Pandemic, he handed over a strong, growing economy, gas prices under $2.00, and a country that was energy independent and an exporter of petroleum products to the world.
With horrendous and swift policy decisions, Joe Biden made us energy-dependent on evil countries like Iran, Saudi Arabia, and Venezuela. We are at their mercy for high prices for gas at the pump and questionable supply lines. Biden has erased all of the economic gains we made under Trump, where the middle class had seen the most significant income gains in history, and the trickle-down economy was working. Biden, who claims to be the champion of the middle class, has crushed it. Savings are at an all-time low, and credit card balances are at an all-time high.
With economic numbers in the tank, along with Biden’s approval numbers, there is no shift in policy in Biden’s mind. Even the liberal President Bill Clinton made considerable adjustments to his economic plans after his first two years in office. A wise man sees the need to change and does. A foolish man cannot see the need for change and digs his heels in when he should shift. Clinton made the change, and Biden will never. One was wise. The other was feeble.
As the scope of the war becomes more apparent, we will know who is involved, which side they are supporting, and what their impact on the global economy will be. We understand that the international and American economies are in for a shock. We are all dependent on oil, and the production will slow, and the cost per barrel will skyrocket. What most people do not understand is oil cost doesn’t just impact gas and heating costs.
Petroleum products are in nearly every consumer product. This scenario is not good news for the middle class, especially going into the holiday season and winter. One crucial fact the middle class must remember is we are in this predicament, the war and economy, because of the Champion of the Middle Class, Joe Biden. Maybe he is the champ, as the middle class is on the mat, taken the count, and said, “uncle.”
