By Jack Hellner
Here is a headline in Yahoo Finance on December 30th: “This week in Bidenomics: It was a pretty good year.” The author is Rick Newman, whose title is “Senior Columnist.
Newman admits that the S & P 500 was down 20% for the year, the Dow Jones was down 10%, and the Nasdaq was down 34%. Nevertheless, he brags that gas prices are down from their high to $3.15 per gallon, never acknowledging that gas was $2.17 when Biden won the election. Bragging about prices that are up 45% in two years does not show any ability to think cognitively.
Diesel prices are also down from their Biden-era high. Still, their Biden-era “low” is $4.53, which is 90% higher than the $2.38 price for diesel when Biden was elected. Crude oil is around $80 or up 100% from $40 when Biden was elected. That is what happens when one of your major goals is to destroy industries that provide reasonably priced energy.
The economic reality is that the price of energy affects everything we use. The overall inflation rate is stated at 7.1%, which is up from under 2% when Biden took office. Real wages have declined constantly for two years, and 63% of Americans are living paycheck to paycheck. Only 40% of people have enough money to pay for a $1,000 emergency.
With Americans struggling as they are, savings are down, reaching their lowest rate in 17 years—2.3%. At the same time, there’s been a 7% increase in the number of consumers forced to make more and more basic purchases using high-interest credit cards, the fastest increase in 20 years. As for most Americans’ biggest investment, their home, sales have collapsed to recession levels.
There’s no help in the labor market. Jobs are also not increasing despite Biden’s boasting. In fact, the feds added an imaginary 2 million jobs to their estimate of second-quarter job growth. No wonder that, as Biden continually says how great everything is, he also continually delays student loan payments for highly educated people, something that helps buy votes.
In June 2022, 85% of Americans said the country is heading in the wrong direction. Nevertheless, Biden says he doesn’t see the need to change any of his policies:
A significant reason Biden thinks he doesn’t have to change policies that are destroying the United States is that most people posing as journalists, like Rick Newman, write glowing reports about how well he is doing.
Democrats always measure their “success” against what was the worst conditions they created. Obama bragged about lowering deficits, but of course he lowered them from the $1.4 trillion he jacked it up to, but never had them as low as they were under Bush. Idiot Biden drives fuel prices up to $5 a gallon and then thinks great success is for them to come down to only 75% higher than their were under Trump. Oh, and let’s not even talk about diesel prices.
Don’t worry, NO ONE thinks idiot Biden (the puppet) has succeeded at anything regarding the economy other than succeeding in destroying it. The working classes are worse off than ever before and, as if that wasn’t harsh enough, they have to live in crime-ridden cities and see criminals released on a regular basis (if one is unfortunate enough to live in an area controlled by Democrats).
People returning to jobs suspended due to the prolonged COVID restrictions are not “new” jobs. Also, those who haven’t gone back to work due to living off the government titty keep businesses from fully staffing.
Undeniably, NOTHING idiot Biden and the Democrats are doing helps the country. It is all destructive and has every appearance of being intentionally destructive.
These people are at stupid as those who want to thank Biden for cutting off the ANWR for fossil fuels