Biden Boom? November Inflation Highest In Nearly 40 Years

Biden trying to salvage his sagging polls as be bumbles and stumbles his way

Misery Index: New Numbers Show Biden’s Economy Continues to Hit Americans in the Wallet

(AP Photo/Sue Ogrocki, File)

Each month economists attempt to gauge how average Americans are weathering the ups and downs of the U.S. economy. By using the simple yet clever technique of adding the U.S. unemployment rate (4.20%) to the current rate of U.S. inflation (6.81%), economists attempt to quantify the economic well-being of the country into a Misery Index.

The current U.S. Misery Index stands at 11.01%.

What does the Misery Index tell us? First, we know that as the rate of inflation goes up, the cost of living increases. Next, as unemployment numbers rise, more and more people fall into poverty. Consequently, the Misery Index acts as a kind of snapshot that can be used to gauge the health of the economy as a whole since both employment and inflation impact the average American wage earner.

Inflation decreases the purchasing power of the consumer. Higher prices mean fewer goods can be purchased, so even as more Americans get back to work after the disruptions of the pandemic, their wages, savings, and investments buy less and less. The sad fact is, even though consumers haven’t done anything wrong, inflation and the mere passage of time increase the prices of everyday goods and services such as housing, food, and transportation. In other words, as the Misery Index rises, life simply becomes more and more expensive.

As the Joe Biden presidency lurches on and the Misery Index creeps ever upward, average Americans are feeling a more intense economic pinch. Just one month ago, the index stood at 10.82%—that’s a 0.19% increase and it’s likely not gone even higher because of seasonal hiring. Is the health of the U.S. economy really impacted by who is in the White House? The short answer is yes.

When the Misery Index is compared over the terms of the U.S. presidents, it’s obvious that most Americans have been economically better off under most Republican presidents.

In fact, most Americans enjoyed a fairly robust economy with a low Misery Index hovering around 5.0% to 6.0% under Donald J. Trump until the CCP virus pandemic hit.

It’s unmistakable that the Biden administration’s economic policies are increasing the everyday American’s misery. When Biden took office in January 2021, the index stood at 7.70% and it has since climbed to a crippling 11.01% today.

A Harvard School of Business paper published in the American Economic Review found that unemployment causes Americans 1.7 times as much misery as inflation does, so realistically the Misery Index is even more painful to the average American than these seasonal numbers show. As Biden and his leftist pals would like us to forget, the mess at our ports continues to negatively impact the U.S. supply chain while they do little to nothing to fix the problem. Meanwhile, Democratic leaders accept no responsibility for the spike in crime and the racial and civil unrest going on across the country while they blame local leaders and Trump or take numerous personal trips.

https://pjmedia.com/uncategorized/gwendolynsims/2021/12/11/misery-index-new-numbers-show-bidens-economy-continues-to-hit-americans-in-the-wallet-n1540730

Consumer Inflation Reaches 7 Percent in December, Highest Rate in Forty Years and Still Climbing

As you know, the top line number of 7% is a false premise. We are feeling much, much higher overall prices in our lives with gasoline, home heating fuel, electricity costs, housing and the astronomical prices at the grocery store. The BLS data is backward looking, meaning it was compiled in early December 2021 for comparison to December 2020. Where we are CURRENTLY is much worse than where we were in early December.

We are feeling the front side of the inflation hurricane right now. The consumer prices at end of January and through February are now reflecting new purchase order prices and contract prices to wholesalers, buyers and retailers. The higher energy costs, fuel costs, warehousing costs, transportation costs and delivery costs are cumulative. As a result, the December report is simply the precursor to what will be much more damaging inflation data in Feb (showing this month) and March (showing Feb).

Additionally, the BLS data captured gas prices at their slight drop from oil prices in late November and early December. The price of oil has now gone even higher, and the price of gasoline is once again on the rise. We have not yet seen the worst of this folks. Hopefully most are prepared.

This is being done on purpose. Paul Volker beat inflation in the 80’s not by tamping down demand but by monetary policies.

Inflation emerged as an economic and political challenge in the United States during the 1970s. The monetary policies of the Federal Reserve board, led by Volcker, were widely credited with curbing the rate of inflation and expectations that inflation would continue. US inflation, which peaked at 14.8 percent in March 1980, fell below 3 percent by 1983.[21][22] The Federal Reserve board led by Volcker raised the federal funds rate, which had averaged 11.2% in 1979, to a peak of 20% in June 1981. The prime rate rose to 21.5% in 1981 as well, which helped lead to the 1980–1982 recession,[23] in which the national unemployment rate rose to over 10%. Volcker’s Federal Reserve board elicited the strongest political attacks and most widespread protests in the history of the Federal Reserve (unlike any protests experienced since 1922), due to the effects of high interest rates on the construction, farming, and industrial sectors, culminating in indebted farmers driving their tractors onto C Street NW in Washington, D.C. and blockading the Eccles Building.[24] US monetary policy eased in 1982, helping lead to a resumption of economic growth.

We are being gutted from the inside.

You don’t accidentally stop pipelines, cancel oil leases, shut down refining capacity, change port regulations and then act surprised by saying: ‘Whoopsie’ gasoline seems to be costing more?  Duh! It’s a feature not a flaw.  Many of the people behind Joe Biden are stupid, but they ain’t *THAT* stupid. They know what they are doing, but they have to pretend not to know things in order to avoid the tar and feathers.

If they can reduce demand by making things unaffordable, they can claim victory over inflation (mid/late 2022) and proclaim their economic policies a success. The prices will never drop, but the percent of change will stall out. They will push the windmills, sustainable algae cakes, and other ideological quests from the Moonbat tribe who worship at the altar of climate change.

The downside of the White House achieving what they call “success” is unfortunately, by the time we reach that point we will have nothing left; we’re broke. Prices will finally level off, but the savings of Americans will have been depleted, and wage growth will take years, if ever, to catch up.  You will own nothing, and be happy.