“It’s not your imagination. In so many ways, life in the summer of 2021 is a lot more expensive than it was a year ago.”
“American motorists can expect to pay more to fill up their tanks at least through the end of August, according to AAA. The average price of gas nationwide has climbed to $3.13, a high for the year and up 40% since January 1.”
“Used cars and trucks were 10.5% more expensive in June than in May, continuing an expensive trend.”
“Last month, the median existing home sale price was $363,300, up nearly 25% compared to June 2020 ($294,400), per the National Association of Realtors.”
Supply and demand have made it cost-prohibitive for purchasing homes so the renters market is flooded, rental prices are way up.
No, White House propaganda team, just like Joe Biden’s brain, his economic plan is not working. Our cookout just got smaller. Many companies are shrinking the quantities of products that they are selling because it is easier to hide the price increases that way:
“Ingredients and manufacturing are getting more expensive thanks to inflation, and if they can’t cut costs, companies have two main choices – hiking up prices or making their products smaller.
Many of these size changes are subtle, like making candy bars sold in multipacks smaller than ones being sold individually, or changing the shape of their products so you can barely notice the difference in weight.”
Official inflation expectations have hit the highest in series history for data that goes back to 2013. The core-price index, which excludes certain consumer goods with volatile prices, rose 3.8%, the largest increase since 1992.
According to data released in June by the Federal Reserve Bank of New York, “Survey of Consumer Expectations” reveals that median one-year inflation expectations climbed to 4.8% — a 0.8% increase since May.
Inflation – the phenomenon this country learned to know and love since the day alleged President Biden took office – is “temporary,” according to Joe Biden:
“Our experts believe and the data shows that most of the price increases we’ve seen were expected and are expected to be temporary,” asserted Biden.”
Because President Biden’s daily schedule is mostly filled with riding Air Force One and reading remarks written for him on the teleprompter, it is unclear when exactly he has met with any “experts.” However, here is what one expert, a renowned economist Larry Summers, is predicting:
“Fed and Biden administration officials are entirely correct in pointing out that some of that inflation, such as last month’s run-up in used-car prices, is transitory. But not everything we are seeing is likely to be temporary. A variety of factors suggests that inflation may yet accelerate — including further price pressures as demand growth outstrips supply growth; rising materials costs and diminished inventories; higher home prices that have so far not been reflected at all in official price indexes; and the impact of inflation expectations on purchasing behavior.”
The July report by US Bureau of Labor Statistics showed an inflation increase of 5.4% since last year.
“Consumer Price Index rose by 0.9% since May in the most drastic one-month increase since 2008. Core inflation — which factors out food and energy costs — has risen year-over-year by 4.5%.”
Biden’s solution to inflation is the same as his solution to everything: break the US economy by massive spending. Apparently, Joe Biden thinks that small businesses can freely print paper money the way the federal government does: “just pay them more!”
Let’s hear what Larry Summers things of that:
“Today, while continuing relief efforts are essential, the focus of our macroeconomic policy needs to change.”
Here is a serious look at what inflation may mean for your future.
With such abysmal economic performance, any administration in US history would be faced with unending criticism from the media. Yet, the Biden administration enjoys a bigger cover than an Olympic size swimming pool.
Who does ABC blame for inflation? You guessed it: global warming.
“The climate played a role in driving up food products’ prices.”
“Out west is literally on fire and they’re facing a huge drought. So a lot of agricultural products, whether it be blueberries or strawberries, prices just going up there just because of a lack of supply.”
Do you remember huge droughts last year when President Trump was in office? Because I do. But I do not remember blueberries and strawberries costing an arm and a leg.
What does CNN think? Inflation was caused by Covid.
‘FACTS FIRST: It’s misleading to blame the President for high gas prices, especially since one of the biggest reasons behind the surge is that the US economy is starting back up — which is hardly bad news for a president who’s been in office for 5 months. Supply chains are complex and if any one thing could be singled out for the increase in gas prices it’s the pandemic, which caused the global production of oil — and many other goods — to decrease last year as demand cratered.”
No, CNN, this is not FACTS FIRST. There is not one fact mentioned in the paragraph above. This is NARRATIVE FIRST. And your narrative is: “pay no attention to Joe Biden’s attack on fossil fuel industry:”
“Biden’s cancelation of the border permit for Keystone XL has also helped to increase gasoline prices by 30 percent since his taking office, along with his other anti-oil actions, including pausing federal oil leases and suspending oil leases in the Arctic National Wildlife Refuge. All of these supply-limiting actions send signals to markets that begin to factor in their impacts.”
And finally, let’s hear from NBC:
To which one Twitter user cleverly replied:
Or this authors response:
“Joe Biden’s presidency silver lining: finding out that you are smarter than most of the people who graduated from Ivy League universities.”
RWR original article syndication source.