Without a doubt there are moments when Joe Biden doesn’t know where his feet are. He frequently loses his mask and he often is confused but do not discount his mendacity for one second when he is lucid. He is and always has been a liar of epic proportions. Even more of his deceit can be seen here. He is not a nice man. He is not a good man. The smartest man he knows holds the Guinness World Record for smoking parmesan cheese.
It was widely predicted that the economy would add close to a million jobs last month but only 266,000 jobs were added. It was regarded as the biggest prediction fail since 1998 and one CNBC host thought it was a typo. Biden went out and blamed Donald Trump for the bad numbers while out of the other side of his mouth claimed that America was moving in the right direction.
Why is the employment report so dismal? Because Biden is providing a financial incentive to not work. Not working pays far better than working.
Under President Biden’s recently enacted $1.9 trillion American Rescue Plan, workers who lost their jobs to the pandemic shutdowns and scale-backs are now earning more in unemployment benefits than they did in wages. And that is stopping people from returning to work — just when employers are trying to reopen across the nation.
The unemployed are getting an extra $300 a week in federal benefits through Labor Day. That’s on top of state unemployment benefits averaging about $320 per week.
It all adds up to an average of $638 per week in combined federal and state unemployment payments. In 2019, that combined amount averaged out to $348 per week.
And that means
According to economists at Bank of America, the combined unemployment benefits mean that anyone earning less than $32,000 a year can potentially receive more income from unemployment aid than from their previous jobs.
Restaurants and small businesses are desperate to hire as the economy gains momentum but Biden is determined to smother them:
Owners and managers from New York, California, Washington, and Chicago told The Epoch Times hiring woes have become a nightmare amid a litany of other challenges like indoor occupancy rules. They say the federal unemployment bonuses handed out during the CCP (Chinese Communist Party) virus pandemic incentivized people to stay home instead of working.
It’s as though Biden wants kill the remaining businesses that scraped through the pandemic
Mark Fox, a Dublin native who lives in New York City, owns four restaurants in the Big Apple. While business is now finally starting to pick up, hiring troubles have slowed down the momentum.
“We have difficulty hiring hourly workers, bartenders, servers, bar-backs, busboys, runners, overnight cleaning staff,” Fox told The Epoch Times inside his flagship restaurant, The Ragtrader & Bo Peep Cocktail and Highball Store.
“We are probably 60 employees short,” he said. “I have one restaurant in Greenwich Village that I haven’t reopened yet because they don’t have the manpower.”
I have a long time friend who quit a job as chef because he could not find any help.
So what does the Liar in Chief say?
“Mr. President, do you believe enhanced unemployment benefits had any effect on diminishing a return to work in some categories?” a reporter asked Biden.
“No, nothing measurable,” Biden answered.
Talk about detached from reality. We cannot sustain as a nation by printing money and incentivizing people not to work. What’s wrong with him?
Perhaps it’s because he can’t find his measuring tape or his yardstick. Maybe it’s because he’s senile. Maybe it’s because he’s a liar. Maybe it’s because he’s a Chinese agent. Maybe it’s because he wants to grind the US economy to a halt.
Or maybe it’s because he’s a f**king idiot.
DrJohn has been a health care professional for more than 30 years. In addition to clinical practice he has done extensive research and has published widely with over 70 original articles and abstracts in the peer-reviewed literature. DrJohn is well known in his field and has lectured on every continent except for Antarctica. He has been married to the same wonderful lady for over 30 years and has three kids- two sons, both of whom are attorneys and one daughter on her way into the field of education.
DrJohn was brought up with the concept that one can do well if one is prepared to work hard but nothing in life is guaranteed.
Except for liberals being foolish.
January 25, 2021 – “Once again, Republicans screw up the economy, Democrats try to fix it. And Republicans resist.”
(No crystal ball was needed. The latter-day GOP’s predictable post-disaster responses were already clearly established and recognized: Shift blame for the disaster; lie about what the policies that caused them accomplished; sabotage all remedial efforts; and then get back in for another round of plundering and pillage.)
Once again, Republicans screw up the economy, Democrats try to fix it. And Republicans resist.
—
“Trump left the country in such a mess — an uncontrolled pandemic still killing thousands a day; a botched vaccine rollout; 11 million unemployed, tens of thousands of businesses closed or in bankruptcy — and now a Democrat, President Joe Biden, has to engineer a recovery. This is similar to what happened when Barack Obama took office in 2009: A Republican predecessor left the worst economic downturn since the Great Depression. Despite a pledge by Republican Sen. Mitch McConnell to make Obama a “one-term president,” Obama managed to get a major stimulus package approved by Congress, and his administration pretty much saved the U.S. automobile industry. By the end of his second term, Obama had presided over an economy that saw 75 consecutive months of job growth.
“Now we have another fine mess — created during a disastrous Republican administration — that a Democrat is expected to fix. Biden’s big plans for recovery have been given the thumbs-up by most analyses, including Moody’s, which sees the possibility of a return to pre-pandemic job levels by the fall of 2022.”
—
(By the fall of 2022. Because THAT’S HOW SCREWED UP THINGS ALREADY WERE, when they were handed off to the Biden Administration.)
—
“But what are we hearing today? The so-called Moderate Republican senators who might have considered endorsing Biden’s $1.9 trillion disaster relief and stimulus are reluctant to support it. Some are calling it dead on arrival.
“Look, you all know this by now: Republican policies do not work. Trickle-down tax cuts do not create jobs and do not spread wealth, and here’s an exhaustive study you can read about that from the London School of Economics. (“Major reforms reducing taxes on the rich lead to higher income inequality but do not have any significant effect on economic growth or unemployment.”) Republican presidents, including the sainted Ronald Reagan, have left larger deficits than they started with.
“The current Republicans in Congress, who are now resisting Biden’s bold combination of disaster relief and stimulus, eagerly supported Trump’s huge tax cuts for corporations and the rich in 2017. Those tax cuts, through 2025, will add from $1 trillion to the $2 trillion to the national debt, according to the Tax Policy Center, and only a small percentage of companies told the National Association for Business Economics that the tax cuts sparked more hiring…”
—
It was not the federal government that shut down the economy and caused massive unemployment, it was the State governors and legislators. The first thing an auto manufacturer did was send its production to Mexico, Bidens admin did nothing to encourage them to stay. It was operation Warp speed that got the jab out with fully planned delivery to the States who then were unprepared.
Do tell us Greg what changes were made to warp speed. Employers are begging for workers while the unemployment bonus keeps the workers with higher income than when working.
Your alternate universe where democrats actually fix things is a true fantasy. Defunding the police isnt what the communties that use them and need them the most want.
command groggy-poo, who is your ghost writer and where does he/she their information? reality, the gay muslin terrorist pres. did not 75 months of job growth-you lied again. do you have a ghost name for other blogs? it is obvious that you have no KNOWLDEGE of financial analysis. the pedophile’s economic policies are bankrupting this country. so you are in favor of three, four, maybe five more stimulation checks?? new break: the treasury department is not running out of paper but ink. the soapbox that you stand on-old coke bottle.
I suggest you read Linda Goudsmit’s work entitle The Book of Humanitarian Hoaxes. you can find it on google for a few dollars.
So, Trump should NOT have “followed the science” and not shut down the economy? Please clarify.
Also remember that when Trump was addressing the oncoming epidemic, Democrats were ignoring it, declaring him xenophobic for trying to control who was bringing the virus into the country and calling him dictatorial because he was organizing manufacturing capabilities to meet emergency needs. Only when they saw the exploitive value of the epidemic did they suddenly do a 180 and begin accusing Trump of doing NOTHING (a lie, of course).
In addition, EVERY VACCINE WE HAVE is due to Trump’s actions and leadership, even as Democrats told the nation NOT to trust the vaccines.
Now, with the lying, corrupt idiots fully in charge, they are killing tax revenues even as they raise taxes. Democrats are the STUPIDEST among us, with the possible exception of those who blindly support them.
Once again we find you bloviating from the fiction section. Debt used to be bad, now it’s good. I still recall when shovel ready was all the rage, then it wasn’t. Green energy was all the rage, then it took our tax dollars and went bust. Now JoeB wants to repeat the failure. I guess this will be good for America too.
https://www.jihadwatch.org/2021/05/bidens-handlers-considering-giving-iran-1000000000
The only kind of debt the left likes is the kind that results in massive waste, corruption and theft.
How long have you been sucking dirty donkey cahks for your Master SATAN (aka George Soros)?!?!?!?
DECADES, has it been?
the only good democRAT is a DEAD DEMOCrat
stupid c u n t
Democrats are the only people that you can’t tell if they are TRYING to destroy this country of simply abysmally incompetent. Idiot Biden leads them.
DrJ,
Right on target . . . he’s a willful idiot.” It’s tiring to read all media, even much of the right media pretend this is the result of Democrat Far Left factions – no it isn’t – this idiocy IS the Democrat Party platform full bore.
This fool is choking the entrepreneur and his insane spending will suck the oxygen out of the economy while he bloats corrupt government even worse than it already is.
China produces practically everything we purchase with this self-destroying debt. We borrow $s and send them to Asia. The trade imbalance is at a historical high, as Wall Street senior bankers and the conglomerate monopolies have gutted America’s manufacturing know how.
We once understood state of the art nuclear energy production — the left killed that. Now the Idiot-In-Chief wants us to buy costly environment-destroying solar panels from China. Etc., etc.
Congress sold out America and now we’re witnessing SCOTUS do its part to render the Constitution irrelevant.
What a mess.
Don’t worry Joe will sign an EO that adds 500 thousand to the jobs number an viola the press will swoon.
Unemployment benefits expire. A lot of these people aren’t getting unemployment anymore and don’t re-qualify because they have enough qualifying wages for the past 12-18 months (because they were just laid off during the communist Chinese flu pandemic 12-15 months ago).
The root problem is wages and the employers option to just bring in cheap immigrant replacement labor when the numbers are bad.
It used to be, you got visas for specialized workers. Now it’s exploited by employers (and head hunters) to get the cheapest worker bees. Worker bees who are then trained by the “expensive” people they are replacing. So, they’re not so “specialized” after all, just cheap.
We’ve got to cut off the spigot of cheap immigrant labor, legal and illegal. Neither party has the stomach to approach “donors” with that idea.
POSPOTUS Joe- The Drool on the Hill
Now even many liberals are seeing Biden as a total mistake
They are in complete indoctrina…er….denial.
S&P 500 closes at a record, Dow jumps 320 points as Biden reaches infrastructure deal”
—
U.S. stocks jumped to session highs with the S&P 500 reaching an all-time high Thursday after President Joe Biden declared that the White House struck an infrastructure deal with a bipartisan group of senators.
The S&P 500 rose 0.6% to hit a record closing high of 4,266.49, retaking its previous record from June 14 and fully recouping the losses triggered by the Federal Reserve’s surprise policy pivot. The Dow Jones Industrial Average added 322.58 points, or 1%, to 34,196.82, sitting about 2.6% from its all-time high. The Nasdaq Composite jumped 0.7% to reach another record at 14,369.71…
—
https://www.cnbc.com/2021/06/23/stock-market-futures-open-to-close-news.html
Yeah, the idea of benefitting from massive amounts of government waste excites the markets. Now, wait and see what happens when (if) idiot Biden announces his onerous, oppressive tax hikes.
Idiot Biden gets to follow along on Trump’s coattails, riding the solid economic foundation he built. Like border security, it is idiot Biden’s to destroy; he is not innovating anything.
The nation’s infrastructure is falling apart. Economic growth depends on it. Trump and republicans talked about it, but ultimately did nothing. All of our global industrial competitors are making huge investments in the future, while we wallow in memories of the good ol’ days and cling to aging technologies.
What “solid foundation” are you referring to? Trump initiated an unsustainable economic binge by cutting high end and corporate taxes when we were already running massive deficits. He increased the national debt by nearly 36 PERCENT IN ONLY FOUR YEARS—THE FASTEST DEBT INCREASE UNDER ANY PRESIDENT IN U.S. HISTORY—and that was after our recovery from the worst recession since the Great Depression, when any sane economist knew stimulus measures should have been gradually reined in, as Obama was properly doing.
All of the consequences are now Biden’s to deal with. His approach WILL involve a more aggressive progressive tax schedule, because that’s an essential component of the ONLY rational solution. Nobody likes tax increases, but rational adults understand that we can’t always have things as we would like them.
Trump pushed hard for infrastructure but, you guessed it, Democrats opposed it because Trump was doing it. No doubt, had Trump been able to get an infrastructure bill pushed through it would have been loaded with socialistic sludge like the Democrats loaded into the so-called “COVID aid bills”.
Trump had built the greatest and most diverse economy, benefitting minorities like no other before it. Obama had no idea how to light up the economy and did nothing but suppress it.
If his economy was “unsustainable”, why is it still roaring on? The bulk of his debt was created by the Democrats in Trump’s final years, holding the nation hostage unless they were allowed to bloat aid bills with pork; aid made necessary thanks to idiot Biden’s allies, the Chinese, and their COVID scourge. And THAT was made worse by Demcrats.
I look forward to the Democrats raising taxes to the levels they desire (unless, like the coward Obama, idiot Biden will defer them until after the next election). Jack those taxes (on everyone but themselves) up and watch the fun in 2022!
Fortunately, Trump is over.
When do you think you’ll be getting around to accepting that?
Another Disaster: Joe Biden’s Economy Adds Meager 194,000 Jobs in September
https://www.breitbart.com/politics/2021/10/08/another-disaster-joe-bidens-economy-adds-meager-194000-jobs-in-september/
Idiot Biden actually blames people getting fired for not being vaccinated.
So here is a thought. There has yet to be any follow on to bidens mandate by osha to create a forcing mechanism for vaccination compliance. Yet it seems quite peculiar that so many have been so quick to “comply”.
This makes me think back to the barry soetoro admin when his tranny “wife” was hell bent on restaurants providing caloric quantities along with recommended meals.
Hmm, wonder who is managing the puppet strings…
There was a mastermind in the soetoro regime by the name of cass sunstien. He craftfully was known to have said that people just have to be nudged to get them to do what you want them to do.
Let’s Go Brandon! Looks Like Stagflation Is Already Here
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Don’t expect the propaganda media to be reporting this since they have already been chewed out by drunk Pelosi for failing to sell idiot Biden’s Build Back Socialist agenda well enough to convince citizens to cut their own throats. News of growth estimates being slashed can’t help the popularity of spending $5 trillion on a dash of infrastructure and a massive load of graft, corruption, waste, dependency and socialism which is supposed to be paid for by tax revenues generated by massive GDP growth. Without growth, there is no tax revenue and without tax revenue all we are left with is massive piles of stinking Democrat debt.
#emptyshelvesJoe believes empty shelves are a sign of a strong economy
During the Obama failure, they called a weak, lethargic economy that only created low paying, part time jobs a “recovery”. Idiot Biden calls the embarrassing debacle of the Afghanistan withdrawal a “resounding success”. The left has a habit of just calling their failures “great successes” because the liberal media will not call them out and they routinely get away with lying.
Average annual GDP growth during each U.S. President’s term in office, Hoover to Trump, including the CBO’s projections for 2020
The actual GDP growth rate for 2020 was –3.49%, resulting in a GDP growth rate for Trump’s entire term of office of 1.6%, the lowest overall GDP growth rate since Herbert Hoover.
When democrat governors shut down the economy destroying the small businesses, some that will never return it bounced back quite well after only a tenative reopening. 50% at eateries capacity ect.
U.S. gdp for 2019 was $21,433.22B, a 3.98% increase from 2018. U.S. gdp for 2018 was $20,611.86B, a 5.47% increase from 2017. U.S. gdp for 2017 was $19,542.98B, a 4.26% increase from 2016.
Covid was not Trumps doing it was Chinas bioweapon research. In a lab known for its issues. Funded by gain of function Faux xi, the puppy and black hiv orphan torturer .
Since the Democrats worked hard to make the effects of COVID as harsh as possible in order to damage Trump, they look at this as a great success. Going forward, look at how well they take care of the healthy economy they were handed. Socializing the country and establishing their totalitarian police state is their top priority.
Trump’s $2.2 Trillion COVID stimulus bill, the CARES Act, passed in March 2020 with nearly unanimous Democratic support in both the House and Senate.
Biden’s relief package, signed as the pandemic entered its second year, received NO Republican votes.
“Biden’s relief package, signed as the pandemic entered its second year, received NO Republican votes.” That’s because there was very little “COVID relief” in this pork-filled waste package. Recall also that Pelsoi PERSONALLY held up COVID relief until after the fraudulent election because, one, she didn’t want Trump to derive any political benefit from the relief and, two, she wanted to be able to load it with waste, pork and thievery which she knew Trump would never sign.
So, those who needed the aid didn’t get it… thanks to Democrats.
bidens bill is not paid for. It is 100% debt.
You’re full of it. The bill provided direct and indirect economic relief to average Americans most directly affected by the COVID pandemic.
Democrats unanimously supported Trump’s COVID relief bill in 2020 because they put the public’s needs ahead of partisan politics.
Republicans have opposed every effort Biden has made to deal with COVID and its economic consequences. They never hesitate to take credit back home for any beneficial effects of the legislation they oppose, however.
—
March 11, 2021 – What’s in the $1.9 trillion Covid bill Biden just signed? You might be surprised.
https://www.nbcnews.com/politics/congress/what-s-1-9-trillion-covid-bill-biden-just-signed-n1260719
“Democrats unanimously supported Trump’s COVID relief bill in 2020 because they put the public’s needs ahead of partisan politics.” Nope, they held that one up, too, to put pork in it. It got passed because people desperately needed what aid was in it.
The next one that was needed was held up by Pelosi for six months just so she could load it with pork to benefit nothing but far left piddle.
Now, look at your beloved 30% infrastructure bill. That was so important that Pelosi held it up for 6 months to try and get MORE socialist pork. THAT’S how much “infrastructure” mattered to them. Like everything else, its just a tool to get more socialism.
Go blow your revised historic rationalization out your dumb ass.
How about some SPECIFIC DETAILS backing up your bullshit assertions? How about a link?
I guess it has already been established with Trump’s “Stop the Steal” propaganda campaign that facts and evidence are no longer necessary to convince the right that claims are true. All you’ve got to do is keep repeating them.
You maintain your own stupidity well.
Pelosi STILL blocking relief bill; even Durbin admits it.
https://dailycaller.com/2020/12/15/top-senate-democrat-dick-durbin-slams-pelosi-delays-covid-19-relief-deal/
Pelosi proves she withheld aid to people suffering due to the shut down to get Trump defeated
https://hotair.com/archives/ed-morrissey/2020/12/04/pelosi-im-happy-cut-covid-19-relief-deal-now-trump-lost-election/
Nancy and Nancy alone prevents more funds for PPP… because Nancy wants to
https://legalinsurrection.com/2020/04/not-funny-nancy-pelosi-caused-a-week-delay-in-funding-the-paycheck-protection-program/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+LegalInsurrection+%28Le%C2%B7gal+In%C2%B7sur%C2%B7rec%C2%B7tion%29
To say Democrats are shit would be degrading to shit.
None of your articles say a damn thing about what was in the bill that Pelosi subsequently pushed through.
They all totally validate what I wrote. She’s a hateful liar that puts ideology and and personal corruption before the American people.
Do you remember that gift idiot Biden’s close friend Xi provided to enhance idiot Biden’s 2020 chances? COVID? Ring a bell? The economy was almost TOTALLY SHUT DOWN for almost a year. But, note the 3rd quarter figures when the economy was simply opened… 33.1% growth, an historic record. Trump’s economy was strong and healthy; it just needed to be opened. It just needed to be maintained. It just needed to be left alone. Of course, this was well above the capabilities of Democrats, who f**k up anything they touch.
—————————————————————————————————–
The Strength of the Pre-COVID Economy
• Prior to the pandemic, the United States under President Trump had the highest GDP growth rate among the G7 countries – with growth more than double the G7 average from when the President took office through the end of 2019.
• The pandemic has hit every economy around the world, though we performed better than our peers having experienced the least severe economic contraction of any major Western economy. Europe’s (Euro Area) contraction was in fact 1.5 times as severe as the United States’.
• In President Trump’s first 3 years in office, the economy grew by $310 billion (1.2%) more than what was expected prior to the 2016 election. In contrast, in Obama-Biden’s second term, the economy grew by $640 billion (26%) less than what was expected prior to the 2012 election.
“The strong foundation of the pre-pandemic economy and the efficacy of the Trump administration’s efforts to provide direct economic aid to families and small businesses helped deliver record-setting growth that few predicted would occur earlier this year. Our nation’s economy is poised for continued expansion in the fourth quarter, and the strength of the recovery thus far is a testament to the fortitude and resilience of America’s workers and families,” the White House statement said.
———————————————————————————————————-
The only thing holding Trump’s economy back was the dismal condition of the economies of the rest of the world.
The End Is Near: Joe Biden Stops Making Sense – Can No Longer Read TelePrompter (VIDEO)
He was probably distracted by loading his pants.
Joe Biden was involved in a deal with a Chinese giant — and was expecting a 10 percent cut
In her new book, “Laptop from Hell,” Post columnist Miranda Devine reconstructs the Biden family’s quest for cash by using files left on Hunter Biden’s abandoned laptop. Sunday, she detailed how Hunter and his uncle Jim Biden entered into a deal with Chinese government-linked energy conglomerate CFEC, and contacted businessman Tony Bobulinski to run the enterprise. Here, Bobulinski meets “the big guy” — Joe Biden himself.
Hunter Biden and his Uncle Jim were already waiting for Tony Bobulinski in the lobby bar of the Beverly Hilton when he arrived at 10 p.m. May 2, 2017.
BEIJING BIDEN: Hunter Biden Agreed to Spread Chinese Influence in America for $10 Million a Year and an $80,000 Diamond,
JoeBamaNomics, Oil and Energy Analysts Indicate $100 Barrel Crude Costs By End of This Year, The Biden Team Really Need Omicron
The US Misery Index Shows How Weak This Recovery Is
https://mises.org/wire/us-misery-index-shows-how-weak-recovery
It’s a shame businesses have to compete with the government for employees. The government will pay them a reasonable amount to sit on their asses and businesses are expected raise wages to an artificially high level to lure people to work. All it shows is that either liberals have no understanding of business or they are on a determined mission to destroy the economy.
I guarantee that, just like in 2016, if Trump were put back in office today, consumer confidence and markets would soar from day one just knowing someone that understands the economy is in charge once again rather than corrupt socialists.
01/27/2022 – Economy grew 5.7% last year, its best showing since 1984, as activity revived amid pandemic
01/27/2022 – Dow surges on strong GDP growth, shrinking unemployment claims
It would have grown much stronger under Trump. Idiot Biden is still strangling the economy with his stupidity.
There is still out of control inflation and stagflation. The numbers at best are misleading. They do not reflect the true state of the economy. The economy is weak and prospective growth is questionable. Trade deficit hit 1 trillion for the first time in history and we are on the precipice of 30 trillion in debt. When the fed attempts to throw on the brakes with rising interest rates, the bottom will fall out.
Oil was $41 a barrel on 11/03/2020, today it is $85.
When was the last time you bought a barrel of oil? Though there is much to be said for fuel-efficient vehicles, which democrats have promoted for decades.
BEA Release, Fourth Quarter GDP Grew 6.9 Percent, or Did It?
The Bureau of Economic Analysis released the Fourth Quarter GDP (Q4) data today [DATA HERE], and the White House will likely spin a victory message. However, the real economic picture is covered by the continued storm of inflation.
Gross Domestic Product (GDP) is the dollar value of all goods and services produced in the economy, minus the dollar value of goods and services we import. The percentages discussed are percentages of change over time.
The fourth quarter result was an increase of 6.9 percent over the prior quarter.
The total U.S. economy is now estimated around $23 trillion annually. [Tables pdf Here]
What the GDP doesn’t show is the diminished purchasing value of the dollar and/or the actual rate of inflation which towers over the valuation. With goods and services costing much more, the estimated value of those goods and services (the amount of money spent on them) increases.
Because we are in a severe inflationary cycle, the resulting evaluations of the economy are skewed. The BEA attempts to remove the inflationary impact of their evaluations, but they do so by using a 5.5% inflationary rate, which is a much lower inflation estimate than actually exists.
Essentially, there is so much inflationary noise in the prices of goods and services, any calculations by the government are simply estimates of what they think the value of the underlying economic activity is worth. Bean counters are paid to count beans with rules on what each bean is worth. If the rules are wrong, the valuation result from the counters is wrong.
To give you an idea of how far these figures can be flawed, let me share an example of costs from a company and sector that touches all our lives.
DOW chemical is likely the one company in the world that generates more originating products and raw materials than any other. DOW touches your life and is likely the raw material provider for almost everything around you. DOW generates petroleum chemicals, plastics, rubber and solvents that are in virtually everything.
From cars, clothes and furniture to plastics, Styrofoam and containers, DOW is the originating manufacturer of almost all of it. Dow provides the originating material in the supply chain that is then carried forward into all levels of manufacturing.
One sentence from Dow is all you need to see to understand what the current rate of inflation is within the supply chain:
“Prices climbed 39% in the fourth quarter from a year earlier, while volumes fell 4%.” (link)
The cost of producing and processing the industrial products that Dow handles jumped 39%. Those massive increases in costs are at the very beginning of the supply chain. Those prices are then passed along to the next level of manufacturing, and then the next level of component creation, and then the next level of assembly, until a final product is created, sold, transported and delivered to the seller.
The beginning product, the raw material, starts with a 39% increase in price. That is the scale of origin level inflation that works its way through the system until it finally reaches us.
Notice, Dow also said the net volume of their product outputs “fell 4%.” So, they made less stuff at a much higher price.
Take that example and overlay it into the GDP consideration. Remember, the GDP isn’t a measure of the actual outputs of stuff created, the Bureau of Economic Analysis is only measuring the aggregate value of the stuff, ie. what it’s worth.
Did our economy expand at 6.9% in the fourth quarter? Or are we just seeing the increased valuation of goods and services, while the actual outputs in the economy are shrinking?
Did you pay 20% more at the grocery store and leave with 20% more food stuff? Or did you pay 20% more at the checkout and leave with the same or less food stuff than previous?
I think we all know the answer to those questions.
Checkbook economics is the only economics that matters.
Another doom and gloom pitch, from a website called The Last Refuge, which describes its writers as “a ragtag bunch of conservative misfits”…
BIDEN: THE FASTEST ANNUAL US ECONOMIC GROWTH IN 37 YEARS.
And during a pandemic.
I think the GOP’s beloved doom and gloom airplane just crashed into the side of a mountain.
Apparently you do not understand asset inflation. The gdp is a fake number. God, you are economically illiterate
If you move manufacturing to China, you have to hide the GDP loss somewhere. If you do not hide the problem, you might be forced to admit there is a problem. GDP is a fiction based on deficit spending which doubles with every President. Remove the “free” money injection and things look entirely different.
How does GDP grow given the following??
Domestic Production output Drops.
Domestic purchases of major GDP creating items is declining.
Skilled Employment in GDP related jobs is Declining.
Number of NEW Domestic IPO’s is DOWN.
Inflation no matter how it is calculated exceeds cited gain of 6.9%.
The Balance of Trade in GDP items is on a steep decline having reached a “historical” NEGATIVE $1 TRILLION and getting worse.
Plus, not a single month has gone by since 20 January 2021 where the economic metrics “reported” by JoeBama’s Team have not been adjusted to the BAD by 50-100%.
Russian oil (imported!) currently accounts for ~10% of domestic consumption. Is it even remotely possible that GDP is greater now than when we were net energy exporters under Trump’s administration?
Only a chump would find the BEA’s analysis to be credible.
Monday the U.S. IHS Markit flash composite Purchasing Managers Index(PMI), one of the first comprehensive looks at economic growth this year, fell to 50.8 in January from 57.0 in December, severely undershooting expectations and signaling almost no growth in the economy. Economists had forecast a reading of 56.7.
[above 50 indicates an expanding economy, below 50 indicates a contracting economy]
The gdp number is driven by inflation, period. Is that why biden called Peter Docey a son-of-a-bitch. ?
Everyone who has income and bills that must be paid with it understands inflation, Zippy. People also understand that the right NEEDS doom and gloom to pitch their poison. The strongest economic growth in 37 years is GOOD NEWS. Rising consumer confidence is GOOD NEWS. A surplus of available jobs is GOOD NEWS.
People get tired of the GOP telling them that everything is going to hell in a handbag. People know there are problems. They’ve also noticed that the GOP resists all efforts to fix them.
Trump left idiot Biden a strong economy, it only had to be released from bondage. Imagine the growth right now if we were still energy independent and holding oil prices down in the $50 a barrel range. Imagine if people could go to the store, pick something off the shelf and buy it. Trump would be delivering MASSIVE growth. Idiot Biden is just riding Trump’s coat tails and strangling it all the way.
Uh, no. 01-28-2021 – 2020 was the worst year for economic growth since World War II
*All $4 trillion of which was signed off and sent out by the Trump administration.
Maybe there was some confusion? Obama left Trump a recovered and strong economy—75 consecutive months of growth, at the point Obama left the Oval Office.
You do know the economy has to open and running to perform, right? Or, do you? 3rd quarter of 2020, 33% growth, just by opening it up. But Democrat cities and states didn’t want to see that, so they kept shutting the economy down.
Pelosi held up aid packages until she could load them up with pork, waste and corruption. $30 billion in aid to businesses simply disappeared in California because lax oversight is built into the bills.
Yeah, Trump, who was left a lethargic slug of an economy by Obama, left idiot Biden energy independence, secure southern border and a strong, healthy economy. Idiot Biden simply squandered it all
Border Bombshell: Contractors Secretly Flying Illegal Aliens Across the Country
01/27/2022 – Strong economic growth wrecks the GOP’s gloom-and-doom spin
On a day when some truly remarkable data on economic growth was released, let’s give Republicans credit for one thing: They might not be very good at making policy, but when it comes to shaping the debate, their skills are unparalleled.
Start with the data: The gross domestic product grew at an annualized rate of 6.9 percent in the fourth quarter of 2021, and for the year, growth was 5.7 percent.
That’s not just good; it’s positively spectacular, exceeding every forecast. It’s the highest GDP growth since 1984, which is remembered as a moment of boundless prosperity.
While predictions can always be wrong (and often are), the International Monetary Fund now forecasts that growth will slow to 4 percent in 2022 — which would still be the highest growth in two decades, excepting 2021.
Then there’s the jobs picture: In 2021, more than 6 million jobs were created, the largest number of any year on record. The unemployment rate plummeted faster than anyone expected; it’s now at 3.9 percent, and pretty much anyone who wants to can find a job.
I can already hear Republicans protesting: That wasn’t President Biden’s doing! It was because we were climbing out of a recession! Well, yes, it was because we were climbing out of a recession. But by that logic, Ronald Reagan and Bill Clinton didn’t deserve any credit for the strong economies when they were president, either.
The party out of power always has an impulse to say that whatever is good about the economy can’t possibly be attributed to the president, while anything bad about it is definitely his fault. There has also long been a partisan gap in perceptions of the economy: Under a Democratic president, Democrats are more likely to say things are good and Republicans are more likely to say things are bad, and the reverse is true under a Republican president.
But what used to be a gap in perceptions has turned into an absolute chasm. And that in turn has warped the entire debate around the economy. What’s remarkable about this moment is how successful Republicans have been in convincing so many people not just that Biden shouldn’t get any credit for the things that are going well, but also that the economy in general is just a disaster…
It’s not especially remarkable, when you consider that they’re spending 100% of their time and energy pitching doom, gloom, and Trump-serving fairy tales.
01/27/2022 – 2021 economy boomed at fastest rate in 37 years
Greg, I have a question…
If we made so much more product, where the F is it? Our Menards still has the Christmas shit out and it isnt on sale! That space should be full of lawn mowers lawn furniture and BBQs Spring gardening supplies. I have relatives that work at Ariens they cant ship partially assembled products. It took over 8 weeks to get replacement blades for my Cub Cadet. My heat bill has doubled to 400 bucks from same time last year, electric up 50 bucks.
Now Brandon wont allow the USA to get its fresh produce by mandating truckers get the death jab, while flying as many unvaxxed illegals as possible into the interior.
Letting people go back to work isnt “creating” jobs.
See whats happening up nort der eh?
1 million are trucking to Ottawa they are done with Trudeau, every overpass of the over 300 mile convoy is filled with Canadians cheering them on. Over 12 thousand American Truckers have joined up.
Stay in your fantasy media TV bubble of liberal lies.
greg does not have an answer because the number are all smoke and mirrors. He does not understand the rudimentary concept of asset inflation valuation.
I think you might need more rudiments in your own diet.
PedoJoe46 and the demOCrats can try to spin it any way they want….
but when American’s energy, food, fuel, and replacement goods prices are seen going up 25-50-100%….
Americans know something is wrong.
“The fourth quarter result was an increase of 6.9 percent over the prior quarter.”
Sorry, it was not. In the fourth quarter real GDP grew at a 6.9% annualized rate. Does not harm the point you make which is highly valid imo. Actual total year 2021 real GDP grew at 5.7% according to the release while nominal or current dollar value numbers were 14% for the quarter and 10% for 2021. So an actual inflation rate at 10% for the year would make real GDP equal to zero, any higher inflation number would make it negative.
5.7 percent was the REAL GDP for 2021. Real GDP takes the rate inflation over the same period into account.
Real gross domestic product
The backlog of unmet needs for all manner of goods and services represents an enormous economic opportunity. The post-COVID economic boom might look something like the boom period of the post-WW2 era.
Alternatively, there’s the perennial republican pitch that everything is going to hell in a handbag, which Trump would like to package for 2024 as “Only Trump Can Save You”.
Take your pick. I prefer Door No. 1.
The deep of winter is upon us here its -20 with windchill here, by the time the backlog is filled it will because paying utilities and putting food on the table will have eaten the budget so the desire for any product that was on a wish list gets crossed off that list.
Oh buy used? Well the IRS will be looking for that Barter will soon be king to avoid the grasping clawing grimey insider trading fingers of the tax and spend congress.
600 bucks a year what a joke.
Im not in the only Trump crowd, so that little box you try to cram me into is empty. We have plenty of back ups, who is sitting on your marxist bench? Hillairy, CamelA, Abrams?
An opportunity at a time when the nation is run by total incompetents. In every situation, they have failed. People in need of items and a shattered supply chain with no one doing anything to address it.
If Biden had actually failed, we wouldn’t be looking at real GDP growth of 5.7 percent for 2021–the biggest annual jump since 1984.
“The backlog of unmet needs for all manner of goods and services represents an enormous economic opportunity. The post-COVID economic boom might look something like the boom period of the post-WW2 era.”
Nope. Never happen. You see, the supply chain crisis is all Beijing Biden’s fault. He is as incapable of sustaining a good economy as Mayor Pete was in fixing the potholes in the streets of South Bend. And then there is the little matter of the issue of where American sold goods were manufactured in the years between 1945 and 1973. It damn sure wasn’t China. Now, even the Bayer aspirin that you force us to take because you are such a pain in the ass is made in China.
GDP is lower than inflation take the L on this one quit repeating economic retards. When suburban moms are seeing this much inflation they do the shopping and Trump looks like the good ol’ days the walls are closing in, the noose is tightening and every other moronic catch phrase the MSM used for “we got him now” this is the the the you know the thing.
Real GDP is a figure that has ALREADY BEEN ADJUSTED to take inflation into account. By definition, the 5.7% Real GDP figure is the Gross Domestic Product rate of growth for the year, after considering inflation.
All that is Trump residual that hasn’t been destroyed yet.
Biden Puts Kibosh on Copper and Nickel Mining
Upon taking power, Biden immediately set about crippling the energy industry, suppressing drilling and killing pipelines. According to leftist doctrine, fossil fuels make the weather too warm. We must instead use grossly inefficient means of generating power that cannot meet more than a tiny fraction of an advanced economy’s needs. Yet even with things green, Biden obstructs:
Copper and nickel are essential elements in the extravagantly subsidized electric vehicles they pay us with our own money to drive.
The Democrat plan is to force us to drive EVs by making normal vehicles illegal. But how can we drive electric moonbatmobiles if we are not allowed to mine copper?
Like energy production, mining doesn’t offend the planet so long as some other country does it and reaps the profits.
Speaking of reaping profits from mining, the ChiComs have been raking in money from cobalt mining, thanks to the massive amounts of it needed for electric cars, and also thanks to Hunter Biden. The $31 million to purchase the Biden family was a sound investment.
Perhaps another reason why the trade defict topped 1 trillion dollars for the first time in history. It is reckless and harmful to national security to make the US dependant elsewhere for the resources we need when they are abundantly available domestically. That was first and foremost as national policy for President Trump. It is not hard to see where President Trump stood in terms of what was good for America. Take any issue where the leftist has removed a Trump policy and the results are disastrous.
Just who are these people who are putting America and Americans at serious risk?
Look in the nearest mirror.
The entire incompetent, America-hating regime.
This idiot greg means look in the nearest two-way mirror, in your nearest FBI holding cell, looking at those who won’t bend the knee to an unelected regime.
Biden has killed hundreds of thousands with his incompetence and is accelerating the Fall of the West.
Kraft Heinz Announce Next Wave of Fulfillment Price Increases Up to 30 Percent
Last year, when CTH discussed the original Kraft-Heinz wholesale notification for January 2022, we warned it was only the first round. The reason for waves of price increases is specifically, because each of the processed food categories is impacted differently depending on the amount of processing involved. Each category is different.
This understanding is why we warned everyone in October of last year to make as much preparation as possible for waves of food inflation. The original notification for contracted terms in 30, 60 and 90 days was +20%. Meaning this month, on those group and sectors, prices to retailers went up by 20%, and you are seeing that in the supermarket now.
For the next wave, Kraft-Heinz is telling wholesalers the fulfillment shipments arriving in March will be up to +30% on the next categories. Oscar Mayer proteins will be the biggest increase at the top end (+30%), Maxwell House coffee on the lower end (+5-10%) and the juice and drink category around +20%. [A $5 beverage pack will cost $6 in a few short weeks.]
The Bloom Is off The Ruse, White House Port Manipulation Hiding Economic and Supply Chain Issues
We have been tracking the issue of U.S. port congestion, supply chain crises and the White House supply chain initiatives since they first surfaced last fall. We finally have full data to review, and what we see is very disturbing. Not only was the White House supply chain effort a fraud, but they also manipulated the port system to give a false impression of the U.S. economy.
Let’s start with the latest issue.
For several weeks, we have been trying to figure out why the Port of Los Angeles (POLA), our nation’s busiest and most valuable port, had delayed their reporting for December.
Normally they update their container statistics and port efficiency/productivity results between the 10th and 15th of the month. However, this month the data was delayed by several weeks.
When we finally grew frustrated and asked the POLA about this ridiculous delay, they responded January 25th, saying: “Good morning. Data from one vessel has delayed final numbers. We plan on releasing numbers today or tomorrow.”
The POLA justification and timing seemed odd, and their explanation seemed fishy. One container ship manages to delay the entire POLA result? However, this morning after checking and seeing still no result we realized what was going on.
The Bureau of Economic Analysis released the U.S. 4th Quarter GDP result (link). The value of imported goods is a deduction to the U.S. GDP. If the biggest port in the U.S. holds back their import cargo data, the resulting information cannot be deducted from the GDP. Missing data gives an artificial outlook for the GDP.
Put another way, the 4th quarter GDP is inflated by the missing deduction.
Not a Joke, U.S. Govt Takes the Official Position There Is No Food Inflation
The same people who told us to appreciate saving $0.16 on our July 4th BBQs last summer are now taking the official position there is no massive food inflation. [DATA HERE]
Those skyrocketing prices you think you see at the grocery store are not real. Those announcements of forecasted price increases by the food producers, well, those are not real either. So sayeth the United States Dept of Agriculture (USDA).
In their update to the USDA pricing forecast and analysis dated January 25, 2022, the USDA claims: “2021 retail food price inflation continued at same pace as 2020 but varied among food categories.” Oh, but it gets even more stupid:
“USDA, Economic Research Service (ERS) researchers project that prices for food-at-home, or food purchased typically from grocery stores or other food stores, will increase between 1.5 and 2.5 percent in 2022, lower than the 3.5-percent increase that occurred in both 2020 and 2021. Forecasts for all food categories for 2022 are available in ERS’s monthly Food Price Outlook data product, updated January 25, 2022.” (link)
If there was ever an argument that every single institution in the U.S. government was corrupt, manipulative and ideologically bent, this claim by the USDA would be a case study in the supportive evidence.
Apparently, if you are to follow the outlook of the USDA – and reconcile their institutional hypocrisy, Joe Biden increased the rate of food stamp assistance by 25 percent for some unknown reason. Because according to the Dept of Agriculture, “Retail food prices increased by a mere 3.5 percent in 2021, equal to the rate in 2020.”
3.5% ?
You just cannot make this up.
Beef has doubled in price. Bacon has gone up by 30% in the last quarter. Milk has gone up by 40% in the past two months. Fish, eggs and poultry are between 30 to 60% higher than a year ago. Fresh fruits and vegetables still rising in price. Food producers have announced price increases in products from 8% to 60% in the next few months. Beverages and sports drinks are rising 20% beginning in March. Kraft Foods announced processed meat (lunchmeat) price increases up to 30% in a few weeks. However, according to the USDA, these are not the droids you are looking for.
We are living in a parallel universe, a true state of propaganda pushed by the institutions of government.
Count all the people with COVID as having died from COVID to maintain the fear. Hide the ships further offshore, and the port backlog disappears. Don’t count the imported goods, and our domestic economic activity is great. Ignore the prices at the grocery store, and there is no food inflation…
It would be funny if the reality of our situation was not so serious.
Probably going by all those products that maintain the prices but reduce the content by 10 to 20%.
Sketchy Economic Data About to Surface, White House Proactively Seeds MSM Narrative
For those who have been following closely, the economic data releases over the past several months have been almost impossible to reconcile from a Main Street perspective. Additionally, the scale of inflation is skewing everything that stems from dollar valuation.
CTH is certain the fourth quarter GDP statistic (+6.9%) is useless and was an outcome of several flawed metrics: (1) the import data was misrepresented and not accurately deducted (supply chain issue); (2) the value of building inventories was over calculated as an outcome of inflation; and (3) the value of all economic activity was subsequently skewed because the economic outputs (goods and services) were recorded at higher prices.
It has been our estimation that Main Street economic activity was substantially less than the data discussed by financial pundits.
Our review also sees the employment situation on Main Street as considerably less optimistic than claimed. Bolstering that point, in a very weird and structured preview from the White House, spokesperson Jen Psaki made an odd statement today. WATCH (14:35 prompted):
Psaki is prepositioning a narrative that employment data in January will be lower than expectations, perhaps considerably lower, as a result of “workers calling out sick” from COVID, ie. the omicron variant, during the time when employment polling was conducted. That is a very unusual proactive narrative.
Those talking points would not get into the briefing material if there wasn’t a person highly concerned in the economic circle to put them there. Quite frankly, this is a talking point the White House spokesperson would never have in their briefing book if there wasn’t an advanced notification of their need for it.
Someone knows something.
Given the nature of how heavily manipulated the government institutions are, there’s a strong likelihood the Bureau of Labor and Statistics have been surprised by their employment polling results. That internal tremor, a concern amid the political tribe, is then conveyed to someone, who then relays the warning to the White House economic team…. and that’s how Psaki gets the briefing material.
In the background of this unusually proactive economic and employment notation, the Atlanta FED recently released their forward-looking estimation [DATA HERE] of the first quarter GDP. Keeping in mind the official 4th quarter result was +6.9%, the Atlanta Fed is saying the first quarter of 2022 looks like 0.1%.
The economy of the United States doesn’t go, heck, cannot go, from 7% to ZERO in one quarter without some massive dynamic, like closing down the economy…..
Unless….
Unless, the 6.9% was manufactured horsepucky from the outset.
The economy doesn’t go from 6.9% growth in December to ZERO growth a few days later without something substantive happening in the background. My guess is the inventory buildup, cited by the Bureau of Economic Analysis in December, was the result of a massive drop in demand that took
place in the three previous months.
The inventory and inflation driven inventory evaluation that helped inflate the metric of the Gross Domestic Product, was not the result of the supply chain coming back to normal. I will bet a donut the inventory buildup was specifically because demand collapsed.
My view of that situation is supported by the historic drop in productivity that was noted in the last half of 2021. The federal spending, and the federal subsidies for businesses and corporations to retain employees, ran past the period where payrolls would have naturally contracted due to the drop in demand.
If I am correct, the employment situation was artificially influenced, because interventionist COVID spending/bailouts allowed payrolls to be covered, and employees to remain on the payroll register, during a time when they should have been dropped if natural sales/profits were responsible for filling the payroll accounts of companies. This would explain the macro drop in productivity while macro employment was retained.
The natural outcome of that viewpoint is…. When the federal deposits into the private sector payroll accounts dry up, employers eventually drop employees.
That rather dramatic scenario is enough to trigger the BLS to freak out when they did the payroll polling.
Just a hunch… We’ll find out on Friday.
The question a majority of Americans should ask themselves these last few months is “Why?” Why lie?
They have shown with great hubris that they can steal an election, install their preferred puppet, and wreck the nation with impunity. Why lie about it? Why even bother to cover up anything? No one is getting prosecuted. No one has gone to jail. Only a few have even been indicted.
They lie because they know there are way more of us than there are of them.
They spin the lies to keep a certain percent of the population unaware and under control(greg).
They lie to gaslight another percentage of the population(greg) the same way narcissistic abusers lie to prevent their supply/target/vicitms from leaving them out in the cold having to actually support themselves rather than suck other humans dry.
They lie so that the ignorant and the gaslit population can prevent the percentage that is close to being awakened shamed into silence and comfortable complacency.(greg)
Finally, they lie so that the people who have realized what is actually going on will appear to be the “fringe minority” they label us to be.(greg)
It is not working, they know it and they are becoming desperate.
Listen to the WH PS again…
If reporters wanted to doublecheck Psaki’s statement, they would simply need to go to the Bureau of Labor Statistics website. In order to determine whether a household member is employed, the BLS asks:
Any worker who is temporarily absent due to illness is *not* considered to be
unemployed.
They lie because there is no downside. The media does not hold them accountable and as long as that stands, they will lie.
Another 4.3 million U.S. Workers Quit in December
The latest BLS Job Openings and Labor Turnover (JOLT) report [DATA HERE]
{The number of quits edged down in December to 4.3 million (-161,000) following a series high in November. The quits rate was little changed at 2.9 percent. Quits decreased in health care and social assistance (-89,000), accommodation and food services (-64,000), and construction (-44,000). Quits increased in nondurable goods manufacturing (+19,000). The number of quits decreased in the South region.reflects a headline of 4.3 million U.S. workers quitting in December. However, that number is 161,000 fewer quits than November. The job openings are starting to fill up.
While there is evidence the mandatory vaccine requirements are still working through the job market, we are still about another month away before the fog clears from the private sector employment data.
This Friday we will see the unemployment data from December, but in the interim this JOLT’s report is tracking with CTH expectations.
The primary driver of the quits rate has been inflation. Workers seeking higher wages in an effort to deal with inflation can get faster paycheck results by switching jobs rather than asking current employers for more money.
We have been watching this trend for several months. However, the rate of job-jumping is slowing down as the available jobs to jump into are fewer, and the vaccine mandate impact is settling down.
Despite the number of job openings, blue collar workers are starting to see job vacancies decreasing. The service industries around accommodation, food services and basic dirty fingernail positions still have many vacancies; this is the epicenter of where the job jumping takes place. Employment in durable goods manufacturing is at that phase where things are about to get sketchy for tradespeople and union workers.
The white collar jobs are static and/or slightly downsizing. The total number of hires was 6.3 million for December, a drop of 333,000 from prior month. The number of people hired in professional and business services dropped by 159,000.
(CNBC) – […] “All of this is uncharted territory,” says Rucha Vankudre, a senior economist at Emsi Burning Glass, a labor market analytics firm.
The U.S. saw record-breaking months of turnover throughout 2021, with early signs of trouble kicking off in April as vaccination efforts improved, consumer activity rebounded and businesses scrambled to re-staff to meet demand. Workers, especially in low-wage service roles, quit their jobs for higher pay. (read more)
While the situation may be unfamiliar or “uncharted,” I don’t necessarily agree that it is difficult to see what’s happening. Massive inflation is having an impact on workers across the board. Checkbook economics are the priority as working class people and families are making decisions for themselves against the backdrop of everything costing so much more.
The FRED personal savings rate for Americans overall [DATA HERE] has been dropping rapidly since March 2021, the last federal COVID employment bailout injection. All of the federal assistance has created massive data skews in the savings rate, as federal subsidies gave an artificial boost to the U.S. savings rate. Those same COVID bailout injections also propped up payrolls.
It appears the aggregate American worker has used their savings, created by COVID bailouts, to offset the massive inflation created by the COVID bailouts. The net result is a workforce going into negative savings each month as inflation driven expenses (energy, fuel, food) are higher than earnings. This is an unsustainable situation.
More here:
Another 4.3 million U.S. Workers Quit in December – The Last Refuge (theconservativetreehouse.com)
BIDEN ECONOMY: Jobs Off By Half a Million! Expectations Were for 200,000 New Jobs in January, But Instead ADP Reports a Loss of 301,000 Jobs
But, but, 4th quarter gdp was 6.9%
After the GOP Takes Control of the House, Biden needs to be Impeached
Joe Biden Admits Life Sucks Under His Presidency: “Average People are Getting Clobbered by the Cost of Everything Today” (VIDEO)
Biden Claims Federal Government Spending Taxpayer Dollars ‘Buying American Products’ After Paying China $1.3 Billion For Covid Tests (VIDEO)
Yeah, I applied for my 4 free tests January 20. 7 to 14 days to notify me when the USPS ships them. No word. Another great idiot Biden success.
Biden-Obama Gas Prices Reach Highest Point Since 2014 When Obama-Biden Were in Office
I have to laugh out loud every time one of these regime dim wits are asked how they can address high energy prices and the stare blankly and say, “Well, I just don’t know… prices are set on the world market… if only other countries would produce more.”
DRILL, BABY, DRILL, you stupid idiots!
More Reaction… Bureau of Labor Statistics Literally Just Made Up January Jobs Report
The January jobs report from the Bureau of Labor Statistics has no basis in reality. The bureaucrats simply made up numbers to make it look like the economy added jobs
The economy actually lost about 300,000 jobs in January. ADP and the BLS’s own report admit that. But a 300,000-job loss would hurt Joe Biden. So, the crooked accountants at BLS made up numbers and handed a headline to the ignorant press.
Here’s where the BLS comes out and tells us they simply made up numbers to arrive at the headline the White House communications staff wrote for them:
Of course, not even Byron York could be bothered to read the report. Instead, York hopped on Fox News Friday to proclaim Joe Biden has fixed the economy, pointing to the White House’s fictitious headline as proof.
Another trick the BLS used was to dramatically revise downward the numbers from every month prior to December 2021 all the way back to June.
https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc7ce7a1-fa93-4e79-949c-279f1b8633c6_810x590.webp
For more, see Mish Talk by Mish Shedlock.
For the record, the only jobs report you can sort of trust is the ADP payrolls report.
When you compare the ADP report (legit) to the BLS report (fiction), you see the government has no interest in covering up its lies because most people, including Byron York, are too lazy to question the headline
Steve Cortes Weighs in on Biden’s Record Inflation Numbers: The Biden Economic Fiasco Is Manmade – He Did That in Three Ways (VIDEO)
The annual inflation rate hit 7.5% in January. This is the highest increase in 40 years and much higher than expected.
The experts were expecting a 7.2% increase. They were wrong again.
On Thursday former Trump adviser Steve Cortes joined Steve Bannon on The War Room.
Steve stressed to the War Room audience that these are not just cyclical or random inflation numbers that we are seeing. These are intentional.
Steve then went on to describe Joe Biden’s three biggest mistakes in creating the record inflation in America today.
1.) On day one Joe Biden killed the Keystone Pipeline and crushed the US energy sector
2.) Joe Biden issued unwanted and unconstitutional vaccine mandates on the American worker
3.) Joe Biden, Pelosi and Schumer spent like drunken Democrats
This was a great segment with Steve Cortes.
Steve Cortes Talks 7.5% Inflation Rise (rumble.com)
Steve Cortes on Rising Rents (rumble.com)
Steve Cortes Makes Predictions for Biden’s Economy (rumble.com)
President Trump handed biden an economy that if he did nothng, stayed in his Delaware basement, ate oatmeal and watched reruns of matlock, the economy would be doing just fine.
We are moving quickly to a recession, period full stop…
January Wholesale PPI Inflation Doubles Economic Expectations, Diesel Fuel Jumps 9.4% in January Alone, 56.5% For Year
Here we go folks. Jumpin’ ju-ju-bones, the first wave of producer driven inflation has just been quantified. The economic analysts are shocked, stunned, flabbergasted and surprised, because the January single month wholesale inflation of 1.0% is double what they expected.
The “producer price index” is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate (processing), and then Final (to wholesale). Today, the Bureau of Labor and Statistics (BLS) released January price data [Available Here] showing a dramatic 9.7% increase year-over-year in Final Demand products at the wholesale level.
Check out the single month wholesale price increases in these categories [Table 2]: Beefjumped 6.5% in January (43.9% for year). Gasoline jumped 1.9% in January, (53.9% for year). Diesel fuel jumped 9.4% in January (56.5% for year). Cooking oil 4.7% in January (36.4% for year). Home heating oil jumped 7.3% in January (47.4% for year). Pasta jumped 3.0% in January (16.2% for year). Tires jumped 4.6% in January (9.0% for year). Wholesale cleaning supplies jumped 3.8% in January (34.9% for year).
Unfortunately, there is nothing upstream in the supply chain and manufacturing pipeline to suggest that higher prices at the retail level are not coming. The price of raw materials, and the wholesale energy costs to process those materials into finished goods, are still rising.
Breaking: US January Product Price Index (PPI) Inflation Number Hits 9.7% versus 9.1% Expected
The biden economy is in free fall Things are going to get worse.
Joe Biden Forgets Which Administration He Served in as Vice President (VIDEO)
BREAKING: Suspect Arrested Over Attempted Assassination of Louisville Mayoral Candidate is BLM Activist and Black Nationalist Championed by Obama
BIDEN ECONOMY: US GDP is Contracting – Data Continues to Show US Is Heading into a Biden Recession
Atlanta Fed Revises Second Quarter GDP Estimate to Negative 1 Percent
We have been in a recession. What is on the horizon is going to be worse biden is a domestic terrorist
biden said on TV, several times, that he was going to shut down ALL petroleum and coal producing and consuming entities! They mandate everybody take a set of shots containing an experimental DNA altering concoction! They encouraged anyone in the world to come into America thru any means possible and Biden would not stop them nor insist they had gotten a “shot”. Many of America’s billionaire monopolists are supporting and cheering on WEF Davos speakers who wish to begin a massive depopulation.
This is tantamount to self-induced suicide. biden is executing the CCP plan to destroy America without a kinetic war.
Joe Biden Claims Americans Must Pay More at the Pump Until Russian War Ends – Elevated Prices Will Continue For “As Long As It Takes”
Actor Jon Voight Calls For Joe Biden To Be Impeached: ‘We Cannot Wait’
I am making a list of things the Republicans MUST do if they get enough voting power in Congress. Impeaching that corrupt, incompetent idiot Biden is third on the list, after restoring energy independence and securing the southern border. But, he MUST be impeached and REMOVED. Fear of Kamala can’t be allowed to stop it; deal with her in turn.
DEVELOPING: Atlanta Fed Announces GDP for Second Quarter at Minus 2.1 — Confirms US Economy Under Joe Biden Is Facing a Recession
Let’s go Brandon! Great success! Putin and Xi salute you!