Maybe it’s me. Perhaps we have first to define great. From Joe Biden down to Sandy Cortez, the entire left tries their damndest to convince the country the economy is booming, and we ignorant people of the land don’t understand it.
Sidebar: I am watching Piers Morgan interview Jay Leno. Leno just said he likes Joe Biden, and the economy is doing well. That is easy to say, sitting in your garage surrounded by $500M worth of collectible automobiles. For those who watched Jay Leno, the economy is destroying their retirement dreams. Anyone who still works for a paycheck knows Joe Biden’s economy, Bidenomics, is stifling American families, businesses, and the core of our once great country. Most Americans cannot afford a good life for themselves or their families. The inability to give our children the lifestyle we enjoy is depressing.
The facts and data we are given each week and month tell a different story than the one the President and his staff tell daily. Not to overuse the word, but like the border, crime, and our status on the world stage, we are being gaslighted about the President’s performance. The polls show the effort to distort, and the President’s performance indicates the American public is watching the President, as we are told to do, and we do not like what we see. The latest composite poll shows only 39% of the country approve of the President, while 55.9% disapprove. The Vice President should not laugh at her numbers, which are 37.1%/51.7%. Those are not numbers to brag about or run for reelection on.
The latest Wholesale Inflation Report was released this week. The Labor Department said Friday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, jumped 0.3% in January from the previous month. On an annual basis, prices remain up 0.9%. Those figures are higher than the 0.1% monthly gain and the 0.6% yearly figure predicted by Refinitiv economists. These numbers seem small, and you have to remember the cumulative impact of inflation on the prices we pay for goods and services.
The low numbers mean inflation is slowing, but prices remain high. Some examples of today’s prices versus three years ago are Overall +17.9%, Energy +32.3%, Electricity +27.8, Food +20.8%, and Shelter +19.4%. The more significant numbers support the pressure we all feel on our checkbooks. The Core Inflation number, which measures Food and Energy, is 2% for the last twelve months.
When the Fed met recently, they hinted at the possibility of a rate reduction in March. With these numbers, the economy has no confidence to justify a rollback in rates. The high prime rate will keep mortgage rates high, car loans will be too high for some to buy a new car in 2024, and credit card and loan rates will stay pat or increase. None of the stats in the last two paragraphs tell the story of a hot economy under Biden.
History tells us we will not see prices recede to 2021 levels should inflation be stopped. The higher prices we pay today are now the norm, the baseline. Our wages, SSA payments, or pensions have not come close to keeping up with the impacts of Bidenomics. So stop with the gaslighting. You have been a failure in every aspect of your job. You are officially the worst President in history. Jimmy Carter can rest easy. You have taken the baton from him and shown how your progressive, socialist policies could drive a country to the point of extinction. At some point, these Democrats who carry your water and tell us how good you are will need to save themselves. Then you, Jill, and Hunter will drink Keystone Light on a public beach in Rehoboth.
