I know what Joe Biden said. I heard what Fed Chairman, Jerome Powell said. Apparently, what the real money people…the people that make money their profession, their career, and their livelihood have come out and said the idea of the inflationary spiral we’ve witnessed over the last year is not “transitory” as the Biden administration claimed. And as Powell has said, it’s not going to be “coming down substantially next year”. The people that work with this stuff every day for decades on end say, higher prices are here to stay.
I would say “Thanks Obama!” But I don’t think he had as much to do with it as Biden did.
Either way, I bet Obama is loving it. It will indeed systematically change America. It will change your lifestyle, your way of thinking, how much travel you take in the coming years. It will creep into every crevice of your being, from the milk you buy, to the college you send your kids to. It appears, according to the experts, like inflation is here to stay for a good long while.
It’s going to take basically a Ronald Reagan type of individual, working with Congress to stop the insane price increases (which are occurring for no good reason). And most of the money people that I have spoken with over the past six months or so have all been in lockstep saying the same thing. They were saying that this year, inflation would be 7-10%, and that next year it would be 10-13% with a recession thrown in. I’ve heard that more and more from more mainstream financial experts and talking heads over the last month or so.
For someone to come up and say that Biden and Powell were right in their assumption that this was just a cyclical thing that will be gone soon is hogwash. I don’t know anybody in their right mind that has the ability to turn this around that quickly once the prices start skyrocketing.
We’ve seen the inflation in what hurts us the most. We’ve seen in at the gas pumps, which is a direct result of Biden’s wish to push electric vehicles (EV’s), and we’ve seen it in the grocery stores because of “supply chain issues”, also caused by Biden’s economic policies. But clothing is up, travel is up (have you looked online for airfares recently?). About the only thing that you can actually save money on today are cruises, because they are ramping back up after being shutdown due to COVID. And it won’t be long before they are at 90% capacity and they’ll inch those prices back up as well!
No, Joe Biden has proven me wrong. I’ve always said that no one person can do enough damage to harm the United States during a four year term as president. Biden has managed to do so. For that, he ought to be arrested and thrown in jail. It’s just criminal.
Carry on world…you’re dismissed!