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Wednesday, January 12, 2022

Inflation hits 7%. Biden approval drops to 33%

The official government inflation number hit 7% last month as 2021 became the most inflationary year since 1982.

1982 was the year Reagan slew double-digit inflation. That led to nearly four decades of relatively stable prices. Biden, who always hated Reagan, has ended that winning streak. That'll show Reagan!

Trump left Biden with 1.4% inflation, by the way.

Heather Long, an editorial writer at the Washington Post, tweeted the agony of this defeat:

  • Gas 49.6%
  • Fuel oil 41%
  • Used cars 37%
  • Rental cars 36%
  • Hotels 27.6%
  • Utility gas 24%
  • Steak 21.4%
  • Beef 18.6%
  • Bacon 18.6%
  • Furniture 13.8%
  • Tires 12.4%
  • New cars 12%
  • Eggs 11%
  • Suits 11%
  • Chicken 10%
  • Fish 10%
  • Ham 10%

When a Democrat loses the Washington Post, he loses it all. The Post almost single-handedly saved Clinton from impeachment.

Cui Bono (who benefits) from inflation?

The 1%.

The Wall Street Journal reported, "U.S. stocks rose on Tuesday, led by a rebound in shares of technology companies. The S&P 500 added 0.9%, snapping a five-day losing streak. The yield on the benchmark 10-year note edged down to 1.745% on Tuesday from 1.779% on Monday, when it settled at a 52-week high."

To be sure, the stock market benefits many of us in the middle class, but we also are on the front lines paying these higher prices. Food is a greater portion of our spending.

Biden wants inflation. He is not changing his economic team. The Journal also said, "In November, President Biden announced his intention to nominate Jerome Powell, a Republican, to a second term leading the central bank after his current one expires next month."

Meanwhile, his unpopularity is deflating.

The New York Post reported, "President Biden’s job approval rating has tumbled to 33% in the latest Quinnipiac University poll, a whopping 17 percentage-point drop​ from February and an indication of American voters’ deep dissatisfaction over his administration’s response to rising inflation and a resurgence of COVID-19."

But Biden's showing Reagan, isn't he?

Biden also is wiping out 4 years of wage gains for low-income people under Trump, who had reversed decades of the people at the bottom falling further behind.

In its report on inflation, Zero Hedge said, "Finally, and perhaps most importantly for Main Street, real average hourly earnings fell (down 2.4% YoY) for the 9th straight month."

This is why Jeff Bezos, Bill Gates, Warren Buffett, Mark Zuckerberg, George Soros, and most other billionaires supported Biden and loathed Trump. Both men could make them rich, but they also wanted to make the poor poorer.

'Tis the psychology of communism. Class envy. It is not good enough that your team wins. The other team must lose.

58% disapproval for Biden.

Maybe the people have caught on.

33 comments:

  1. Add Pepsi half-litre six packs to that list. December 2020 a six pack cost $2.50 at Walmart (everyday low price). One year later, same Walmart everyday low price is $3.88! That would be an astronomical 53.2% increase.

    ReplyDelete
    Replies
    1. Again, at Walmart a 24 pack of Pepsi cost $6.99 last year and is now selling for $10.28. FJB did that.

      Delete
  2. My Democrat f-in-l would vote for FJB if he was standing over his dead wife with a smoking hand gun and admitted doing the deed. Some people are too stupid to be allowed to live on their own.

    ReplyDelete
    Replies
    1. I had a FinL like that. He'd come over for dinner and plop down in front of TV and but on ABCNBCCBS nightly news. I went over, grabbed remote and turned to Fox (10+ years ago, I don't watch Fox anymore) and said I don't allow those communist news channels on in my house!

      Delete
    2. My in-laws would vote for a bucket of excrement if it had a "D" after its name.

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    3. Frankly, and granted, this is only hypothetical (thank goodness), but if Joe did do that to his scheming, avaricious, repulsive wife, I would have to vote for his re-election.

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    4. My sister, cousins, niece and nephew are the hardcore 33% that will vote D no matter what. Sad.

      If that 33% drops much further, I’ll be shocked. It should be 10%.

      Delete
  3. The people caught on about 13 months too late, Don. With the fed continuing a loose money supply far too long and with Biden's idiotic and unnecessary assault on domestic natural gas and oil, inflation was a sure thing. Trump would have had inflation to deal with as well, but his energy policies would have minimized inflation and its affect on the middle class.

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    Replies
    1. Trump would have handled the supply chain issues like a businessman and we would never have seen the bare shelves we see everywhere

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    2. Exactly, Dennis. Good call.

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    3. TO, I read that the mayor of Los Angeles called Pete Buttplug “the man who saved Christmas”!!! He solved the problem. Make the ships wait further out to see so no one could see them. Ingenious.

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  4. I would like to think voters have caught on. But not yet for many of the Democrat voters. Gooder and harder, sorry but that what it is going to take.

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    Replies
    1. Not sure it would make any difference to them even at that LuAnn.
      As a fellow Canadian one need only look at last Fall's election where by 'The Spawn' won a bogus election call.
      One also need look no farther than Ontario where the corrupt Progs held court for 20 yrs and destroyed the province.

      Why Ontarians would repeatedly vote for their self destruction and NOT learn through their lowered standard of living/hardship ... but to now continually vote for it gooder and harder on a national level is beyond comprehension!

      Delete
    2. You are making the naive assumption that your elections are not rigged.

      Delete
  5. 58% negative approval, wait a week or so when his Atlanta speech sinks in and it will be another negative 10%.

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  6. If you use the markets to figure out who wins, then we're part of the 1%. Pensions and other investments make their money off the markets.

    Maybe the people have caught on.

    The people had caught on last summer when Buck Fiden began.

    ReplyDelete
  7. JOE BIDEN IS WRECKING AMERICA ON PURPOSE IN ORDER TO USHER IN FULL COMMUNISM. AND BY “JOE BIDEN”, I MEAN, OF COURSE, BARACK HUSSEIN OBAMA–AND THE GLOBALIST TRASH WHO OWN HIM.

    F**K THEM ALL.

    ps; No, Joe is not a Commie.

    Unless the Commies pay better.

    ReplyDelete
    Replies
    1. No, Joe , Nancy, Chuck, et al are not communists, they are, above all, super corrupt hyper grifters. They and their pals in the leadership positions of pretty much every institution in our country are the spoiled trustafarians, all all of them Hunter Bidens, or the equivalent of Paris Hilton, experts at living off of other people's money. Our government is full of Dr Fraudskis who have run their own little kingdoms in the government bureaucracy for decades, like J Edgar Hoover.

      Delete
  8. Remember the Fed changed the way they compute inflation! Some economists suggest the actual (current) rate would be about twice as high if computed with the standards in place during the 1970's.

    You may note that not a single example on the WaPoo list is below 7%. How weird is that?

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  9. BTW I mentioned earlier that the local Safeway Grocery
    had an empty shelf where the bottled water was, and someone put "I did that!" on the shelf. Well the bottled water arrived, but if you look-the stikers are still there. FJB FKB.

    ReplyDelete
    Replies
    1. At some point, Amazon will report to the FBI anyone who orders “I did that” stickers. Midnight raids will ensue.

      Delete
  10. Fwiw, the actual year on year inflation rate, year-on-year cpi, is 7.1234%, not "7%" as the bureau of Labor statistics likes to round it down for the press and public consumption. Similarly last month's number was 6.885%, not their quoted "6.8%."
    BLS rounds neither up nor down but truncates the number such that what they report has been 1/10 of 1% less each month.

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  11. This comment has been removed by the author.

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  12. Time to bring this back:

    https://www.youtube.com/watch?v=rU6PWT1rVUk

    ReplyDelete
  13. And Fuck joe biden* doesn't care one whit about approval numbers, that is if he is even cognizant of them. If he was he'd change course, but as a closet communist he's all in for the destruction of capitalism.

    ReplyDelete
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