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Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing


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11 hours ago, cle23 said:

 

Ok, what is the excuse for the past 24 years then? It has been rising for years.  Why, when inflation was low in 2019, was credit card debt the highest on record?  If debt increased solely when inflation did, I would agree, but it doesn't.

 

Are SOME people going into debt buying necessities?  For sure.  But tons more are going into debt buying things and crap they don't NEED. Cars, phones, trips, etc.  

 

This is a pretty dumb analysis.

 

Our GOVERNMENT has basically tied all of life (including gov't transfer payments) to having a phone.  

 

You take is just not accurate.

 

Agree, the crisis resulting from the Biden Admin will lead to consumers eventually trading down, but you don't get it. 

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4 hours ago, OrangeBills said:

 

This is a pretty dumb analysis.

 

Our GOVERNMENT has basically tied all of life (including gov't transfer payments) to having a phone.  

 

You take is just not accurate.

 

Agree, the crisis resulting from the Biden Admin will lead to consumers eventually trading down, but you don't get it. 

 

I'm not arguing that people don't need phones.  I'm talking about the people who upgrade every 3-6 months and pay thousands of dollars to do so. That was just 1 example as well of people racking up debt. 

 

Please,  explain to me how credit card debt is SUDDENLY the fault of the president and not the fault of consumers.  The previous president holds the current record for cc debt (not blaming him), and cc debt has been trending up for decades. It isn't a sudden problem. 

 

Show me where cc debt is tied to inflation. It's been climbing for decades regardless as to what inflation has been doing. 

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Inflation Surges after Biden Bragged About Beating Inflation at the SOTU

 

bc4eea6e-c22d-48a8-8c03-6af02e0fc40f-860

 

 

In just two years, your paycheck(s) has become over 15 percent less valuable, and that’s assuming you don’t spend your money mostly on essentials like housing, food, and energy, the prices of which have outpaced topline inflation.

 

Lastly, just to further evidence the dishonest game being played, when year-over-year inflation was pushing almost 10 percent, administration officials used month-over-month data to brag about inflation actually being “zero.” Now, they are going the other way.

 

Nothing matters to these people, least of all your ability to afford a decent life.

 

https://redstate.com/bonchie/2023/02/14/auto-draft-108-n703428

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I’M SO OLD, I REMEMBER BIDEN TAKING A VICTORY LAP OVER INFLATION IN HIS LATEST STATE OF THE UNION ADDRESS: 

 

Inflation Barely Slowed in January, but the Underlying Numbers Are Still Worrisome.

 

 

https://pjmedia.com/news-and-politics/rick-moran/2023/02/14/inflation-barely-slowed-in-january-but-the-underlying-numbers-are-still-worrisome-n1670366

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10 hours ago, B-Man said:

 

 

 

CNBC: Producer price inflation "coming in hot," accelerating more "than expected."

 

 

 

But, but, that's RNC Research !

 

No.  its a clip from CNBC

 

Yes, inflation is certainly NOT over. Nice to see you do accept facts when they align with your political ideology.

 

Did you know that 10 of the 11 U.S. recessions between 1953 and 2020 began under Republican presidents?

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WE'VE GOT THE RECEIPTS: Biden’s Inflation Is Crushing the Middle Class, No Matter What Stupid Lies He Tells. 

 

“That’s Joe Biden’s inflation tax making us all poorer, just trying to buy the same food, cars, and houses we could buy before his spending ***** began.”

 

https://pjmedia.com/vodkapundit/2023/02/20/bidens-inflation-is-crushing-the-middle-class-no-matter-what-stupid-lies-he-tells-n1672221

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DollarsWindow34-1-110x85.jpeg  THE PRICE OF BIDENFLATION

 

 

Yesterday the stock markets had their worst day of the year, so far. From today’s Wall Street Journal:

 

Quote

Walmart and Home Depot offered cautious outlooks as consumers spend more on food and less on electronics, apparel and home improvements, with inflation and changing habits hitting demand for many goods.

 

All of this is, and has long been, blindingly obvious. The federal government engaged in trillions of dollars in mostly wasteful deficit spending. The money was free! But of course, nothing is free: the consequence was inflation, in effect a tax on all of us. With belts tightened due to rising food and energy costs, most consumers have limited their discretionary spending. The troubled stock markets are just one indicator of what is in essence a declining standard of living. The Biden administration’s happy talk about the economy is borderline insane.

 

And things are going to get worse. Pretty much all of the policies being followed by the federal government, and many states, will contribute to an ongoing decline in living standards. The attack on fossil fuels and blind insistence on an impossible “transition” to wind and solar energy will cause the cost of energy to explode. The attack on agriculture, which is only now beginning in earnest, will force food prices up. The installation of DEI commissars in every government agency and substantial corporation is in itself wasteful spending, and worse, will make our corporations and government agencies less efficient and thereby raise costs further. And rampant crime imposes enormous costs that are borne by everyone except, too often, criminals.

 

https://www.powerlineblog.com/archives/2023/02/the-price-of-bidenflation.php

 

 

 

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