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Tuesday, July 13, 2021

Bidenflation is so bad, even Wolf Blitzer noticed

How dumb is Wolf Blitzer? He was the worst celebrity contestant on Jeopardy. His charity almost had to pay Jeopardy. Inflation is so bad under Biden that even the Wolf has noticed.

CNBC reported today, "Inflation climbed higher than expected in June as price index rises 5.4%."

The story said, "Consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008.

"Excluding food and energy, inflation increased 4.5%, the largest move since September 1991."

In August 2008, the nation was a month away from the stock market crash.

In September 1991, oil prices went through the roof after Iraq invaded and took over Kuwait. That led to the Gulf War, which would later lead to 9/11 and 20 years of futility and frustration in Afghanistan.

Sarah House, senior economist for Wells Fargo’s corporate and investment bank, told CNBC, "What this really shows is inflation pressures remain more acute than appreciated and are going to be with us for a longer period. We are seeing areas where there’s going to be ongoing inflation pressure even after we get past some of those acute price hikes in a handful of sectors."

Every baby boomer knows this is bad because we came of age in the 1970s when Carter was president and inflation ate through our paychecks.

40+ years later, it's ba-a-ack.

CNBC reported, "A separate report from the Labor Department’s Bureau of Labor Statistics noted that the big monthly hike in consumer prices translated into negative real wages for workers. Real average hourly earnings fell 0.5% for the month, as a 0.3% increase in average hourly earnings was more than negated by the CPI increase."

The New York Times (no links for the wicked) said, "Policymakers expect inflation will fade as the economy gets through a volatile pandemic reopening period, but how quickly that will happen is unclear. Prices have climbed faster than officials at the Fed had predicted earlier this year, certain measures of consumer inflation expectations have risen — something that could make inflation a self-fulfilling prophecy if it becomes more extreme — and some officials at the central bank are increasingly wary. At the same time, markets have become more sanguine about the outlook for inflation."

These are the same policymakers who brought inflation back.

Inflation can be curbed. Under President Donald John Trump, the USA was a net producer of oil and natural gas for the first time in 50 years. Unemployment fell to 3.5%.

Biden reversed that by opposing the Keystone XL pipeline and blocking drilling. Unemployment is now 5.9% and inflation 5.4% for a misery index of 11.3.

The Federal Reserve has kept the interest rates at ridiculous lows for decades. It is time to raise those interest rates to reduce inflation.

Finally, the USA needs to make its own computer chips. Red China's shortage of these chips has led to a shutdown of the auto industry, which has pushed prices higher as people turn to buying used cars, pushing those prices higher.

We ended the 20th century with a balanced federal budget and a national debt of just under $6 trillion.

Bush 43 and Obama took the lid off spending and Trump failed to put the lid back on. In this century, the federal government has overspent its revenue by an average of $1 trillion a year as war and welfare programs eat our seed corn. We have borrowed $22 trillion as a nation since January 20, 2001, and none of it seems to have gone toward infrastructure/

We will pay for those foolish policies through inflation. Don't laugh. Venezuela not long ago was the best educated and most prosperous country in Latin America. It elected a communist who shut down its oil industry (it has the world's largest oil reserves) and imported inflation. Now it is a mess.

It took centuries to build America. It will take only one fool as president to bring it down.

We must stop Biden's re-election now.


  1. It took centuries to build America. It will take only one fool as president to bring it down.

    nah .... it takes 81 million fools to elect one fool to bring down the infrastructure and the superstructure

    1. It took six corrupt states. Maybe there were 61 million fools. Still too many.

    2. We are seeing a hostile takeover of America by democrat terrorists and their master plan is horiffic
      .,.Look at this video ASAP!!!'

  2. Narayanan, you are the fool if you think 81 million voted for the illegitimate Dementia Patient-in-Chief.

    Truly, with the imbecility you are peddling here, I wouldn’t doubt you, like the Demented Mumbler-in-Chief, belong in the high-security “memory wing” of a nursing home.

    “81 million [people; “fools” or not] voted for Biden*??? Get out of here with that Democrat Big-Lie.

    1. Would love to know the true count of registered voters in this country. They claimed 67% turnout (largest ever cough cough bullshit cough)
      81 million Biden plus 75 million Trump and 67% turnout = 233 million. Do we really have that many registered voters in US?

    2. This site says only 168 million registered voters in US. That would mean a 93% turnout. To quote Biden, Come on man!!

    3. But the people who perpetrated this Mother of All Frauds won’t go away. That is why they need to be jailed or killed.

    4. "81 million Biden plus 75 million Trump and 67% turnout = 233 million." There are probably that many eligible voters.

      I don't have a Statista account, so I can't opine on the validity of their registered voters when the data was taken (it may be the data Statista got from some jurisdictions was not up to date, or otherwise not correct). The math is fine, but we need to remember that all such numbers come with the potential for uncertainty and/or error...

  3. biden won't make it to 2024. He will be in assisted living home by then.

    1. If the Clinton’s get involved, it will be assisted Arkancide. Living won’t be part of the equation.

    2. I was told there are Visiting Angel vans out back at the White House every morning.

  4. The way Xiden has started out, we may be fondly remembering the Carter years.

    1. We will be remembering those Carter years (at least those of us old enough), but it will never be fondly, even though Biden promises to be far worse than Carter.

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  6. How dumb is Wolf Blitzer?? He’s so dumb he thinks stagflation is a measurement of the increase in deer population.

  7. A shortage of computer chips is curtailing new car production? What if the actual truth is that the automobile industry in America is being targeted for extinction? They go long enough without sufficient profits, and they go under I'll bet you. Then, all the world's automobiles can be manufactured on the cheap outside of the United states. How does that sound?

  8. Cars shouldn't need computer chips. Spark, fuel, air. Then drive the thing yourself. Computer chips!

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  12. Have you ever noticed that when Dems are in office bad news is always unexpected, and when Repubs are in office good news is always unexpected.

    To anybody who has a brain, this is completely predictable. The financial geniuses that say otherwise are either dumb as rocks or lying. I lean toward the latter.

    What do you think is going to happen when you pour $1.9T of cash into an economy that has been shut down so underproducing for 15 months. Doesn't that mean too much cash chasing too few goods, which is the recipe for inflation.

    The Dems caused this with their stupid "line the pockets of our friends" $1.9T payoff bill. The rest of us get to pay for it through inflation.

    Trump had the right recipe--no additional bills, get businesses open and ramping up production in sync with rising consumer demand = no inflation.

  13. They lie about voting numbers.
    They lie about COVID numbers.
    They lie about inflation numbers.
    They lie about spending numbers.
    They lie about vaccine numbers.
    They lie about poll numbers.

    And they lie about their bribery numbers most of all.

    I miss the High-Trust society we grew up in. This is Low-Trust America, if not No-Trust At All.

    Thanks, 4-term Shadow Prez.

  14. "Excluding food and energy"

    Food and Energy are the two primary sectors where inflation directly affects consumers.

    Energy also indirectly affects every other sector in the economy.

    The sophistry used to "justify" excluding the two principle problem sectors is laughable.

    Convenient though.

  15. inflation will recede when the depression starts at the end of this year, the depression will be caused by a lack of raw materials and the inability of the USA to produce anything. think I m kidding, look at car lots across America the dealers are forced to move the cars around so the lots look full. building materials are scarce, energy costs on the rise and a dead head in the WH who s only goal is to preside over the end of America

  16. From the very same people who were shocked to learn that defunding and vilifying one’s own police department might eventually lead to...wait for it...increased crime.

    Now these same social wizards are shocked again to discover that spending trillions of unteathered fiat currency might just cause the value of that same currency to collapse. Go figure.

    [File under: What did they think was going to happen?]

  17. Don, I think your time line might be off. Iraq invaded Kuwait in August of 1990, not 1991.

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