Joe Biden's historic inflation crisis

Joe Biden isn't facing a problem with inflation. Joe Biden's Democrats are facing an historic inflation problem. This morning, the Producer Price Index for March "rose 1.4% in March and 11.2% from a year ago, both records for data going back to 2010."

The CNBC article opens by saying "The prices that goods and services producers receive rose in March at the fastest pace since records have been kept, the Bureau of Labor Statistics reported Wednesday." Yesterday in Iowa, Joe Biden hinted that inflation would calm down the last half of this year. This PPI report indicates that inflation is just getting started. The PPI "measures the prices paid by wholesalers."

This is just the beginning of the spinning by the White House. When the Consumer Price-Index came out yesterday at 8.5%, the Administration tried spinning that report as "Putin's Price Hike." Today's Producer Price-Index isn't showing signs of slowing down. CNBC's Steve Liesman stated that there are commodities issues and supplies chain issues to work through. If that's true (I think it is), then we haven't hit peek inflation yet.

Energy prices were the biggest gainer for the month, rising 5.7%, while food costs increased 2.4%. Swelling inflation has prompted the Federal Reserve to begin tightening monetary policy.
The Biden administration apparently isn't interested in making adjustments. They're famous for simply doubling down on past failures. Democrats can't say yes to sound fiscal policy. The Squad isn't interested in fiscal sanity, which makes most of this administration's policies too far socialist.

UPDATE" This is the key paragraph from the WSJ's editorial today:
President Trump signed onto an unnecessary $900 billion Covid relief bill in December 2020, and Democrats threw kerosene on the kindling with another $1.9 trillion in March 2021. The Federal Reserve continues to support negative real interest rates nearly two years after the pandemic recession ended. This inflation was made in Washington, D.C.
These days, made in Washington, DC sounds as undesirable as made in China used to.

Comments

Post a Comment

Popular posts from this blog

Tim Walz's Confederate Flag Fiasco

Image
After Minnesota's Democrats shoved the most controversial progressive legislation down Minnesotans' throats, gossip started popping up about Gov. Walz being interested in running for president . That's died off but Gov. Walz is still making headlines, this time for all the wrong reasons. First, Gov. Walz isn't the brightest bulb in the chandelier. Still, Gov. Walz is fighting against Minnesota's history. This Alpha News article quotes David Hann, the chairman of Minnesota's Republican Party, as saying " The flag the DFL has eliminated was a version of the historic flag our regiments fought under during the Civil War. Minnesota was the first state to offer troops to the Union cause in 1861 , beginning a long tradition of leading the nation in confronting injustice. The DFL quest to erase our history is repugnant and should be rejected." Gov. Walz, though, sees things differently. He's quoted as saying "Minnesota is a diverse state, it continue
Read more

What is Kamala Harris afraid of?

Image
Apparently, Kamala Harris suddenly loves debating. Let me rephrase that. Harris loves debating as long as the moderators are partisan hacks. She wants nothing to do with a debate moderated by Fox's Bret Baier and Martha MacCallum. She's afraid of Bret and Martha because a) they'll either fact-check both her and Trump or they won't fact-check either of them and b) Bret and Martha aren't afraid of asking follow-up questions. To a candidate whose answers are scripted and who isn't quick on her feet, the last thing you want is a follow-up question. Kamala fears follow-up questions like vampires hate wooden stakes, sunlight and holy water. Why has Kamala Harris avoided Fox News like the plague? The moderators/propagandists fact-checked Donald Trump aggressively but didn't fact-check Harris . Why didn't David Muir and Linsey Davis fact-check both candidates equally? Is it because Harris doesn't like fair fights? Perhaps she's just afraid of getting exp
Read more

Why is Joe Biden letting Hamas off the hook?

Image
It isn't disputable whether Joe Biden's administration is letting Hamas off the hook. That issue was settled months ago, when a spineless Joe Biden caved to activists interested in saving Hamas and thwarting the Israelis' attempt to defend themselves. Gerard Baker's op-ed highlights what's at stake for the U.S. if the terrorists are permitted to survive. In his op-ed, Baker wrote "If, under the pressure of internal Democratic politics and global public opinion, the Biden administration forces a 'cease-fire' that leaves our closest ally in the region short of victory over an enemy that seeks to destroy it, sooner or later we shall all pay the price." It's time to revisit George W. Bush's speech to a joint session of Congress on Sept. 20, 2001. It's required that we remind ourselves of one of its most important paragraphs. In talking about who committed the atrocities of 9/11, President Bush identified al-Qa'ida as "a collectio
Read more