A stark, but clear response to Biden’s recent claim that “Our economy is as strong as hell”

The World Economic Forum lists 44 countries and the associated inflation

The World Economic Forum worked with Pew Research to lay out the inflation figures of 44 countries.

By the way, this post requires a hat tip to both Bunkerville (who commented on this topic two days prior) and The Lone Cactus (whose post was the genesis of this post).

Two years ago, with millions of people out of work and central bankers and politicians striving to lift the U.S. economy out of a pandemic-induced recession, inflation seemed like an afterthought. A year later, with unemployment falling and the inflation rate rising, many of those same policymakers insisted that the price hikes were “transitory” – a consequence of snarled supply chains, labor shortages and other issues that would right themselves sooner rather than later.

Now, with the inflation rate higher than it’s been since the early 1980s, Biden administration officials acknowledge that they missed their call. According to the latest report from the Bureau of Labor Statistics, the annual inflation rate in May was 8.6%, its highest level since 1981, as measured by the consumer price index. Other inflation metrics also have shown significant increases over the past year or so, though not quite to the same extent as the CPI.

Inflation in the United States was relatively low for so long that, for entire generations of Americans, rapid price hikes may have seemed like a relic of the distant past. Between the start of 1991 and the end of 2019, year-over-year inflation averaged about 2.3% a month, and exceeded 5.0% only four times. Today, Americans rate inflation as the nation’s top problem, and President Joe Biden has said addressing the problem is his top domestic priority.

But the U.S. is hardly the only place where people are experiencing inflationary whiplash. A Pew Research Center analysis of data from 44 advanced economies finds that, in nearly all of them, consumer prices have risen substantially since pre-pandemic times.

(Read more at Pew Research)

This stands in stark contrast to Biden’s claim “Our economy is as strong as hell”

For a “leader of the world” who was “elected by the people of the nation” to represent them, this guy misses the mark on numerous points.

Let me count the ways Biden goes wrong in this little clip:

Additionally, I would point him to data that shows how nations with worse inflation got it by doing what he is doing — they have just done it a bit longer. To say it bluntly, the ones that have worse inflation are placating their populations with printed money. They are buying off their voters with ever-more-expensive goods that “the government provides them.”

The nations that have lower inflation (with the exception of China — who has a stranglehold on their press), allow their populations to work and gather the rewards of their work.

So, here we are. “President” Slurp-and-Smack is bribing Americans with:


2 thoughts on “A stark, but clear response to Biden’s recent claim that “Our economy is as strong as hell”

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.