The inflation crisis has gotten so bad that multiple liberal outlets are now admitting that it spells disaster for President Joe Biden’s economic agenda.
CNBC published an eye-opening piece headlined, “Inflation has taken away all the wage gains for workers and then some.” The story analyzed that “Real average hourly earnings when accounting for inflation, actually decreased 0.5% for the month. A 0.9% inflation increase negated a 0.4% rise in wages.” In essence, “[w]hat looked like a big jump in workers’ wages during October turned into just another gut punch after accounting for inflation,” according to CNBC. So much for Biden’s false claim that “[w]ages have gone up higher, faster than inflation.” CNN just released a devastating report headlined, “Why inflation is a political nightmare for Biden.” New York Magazine also acknowledged in a sobering headline, “It’s Official: The Era of Cheap Everything Is Over.” The Daily Mail released a story directly blaming inflation on Biden: “Bidenflation drives Americans to dollar stores: Spending at discount chains rose 65% last week ahead of the holidays as consumer prices rise to [their] highest level in 31 years.”
CNN’s story piggy-backed off of the disastrous Bureau of Labor Statistics (BLS) report released Wednesday showing consumer prices skyrocketing 6.2 percent on a year-over-year basis:
All Americans are aware of the truth. Each trip to the supermarket reveals that food staples like meat and eggs are becoming more expensive. $3.40 is an average cost per gallon for gas to reach the weekly grocery shop. Biden is currently fighting a pervasive, corrosive issue that impacts voters daily. This demoralizing pandemic has left him with severe pain in his pocket.
New York Magazine’s analysis was blunt in its lede paragraph:
This is the worst inflation since George H.W. Bush’s administration has your paycheck been pummeled by inflation like this. People are seeing, for the first time in years, a real breakdown in the economy — bare shelves in supermarkets, weeks-long waits for household goods to get delivered, pricier checks at restaurants.
The magazine noted that inflation “is, by far, the biggest concern on Wall Street — more than COVID-19, unemployment, or anything Elon Musk might be up to on Twitter.”
We cannot sugar coat the real problem. Inflation poses a grave threat. The media must acknowledge it and accurately report it. But some have decided to ignore the issue, treating inflation like it doesn’t even exist. ABC 10 reported the awful report by BLS at 8:30 am Nov. 10. Good Morning America, CBS MorningsNBC Today NBC and NBC Today, 3:00 p.m.All broadcasters censored news stories during morning shows.
Conservatives are being attacked. Reach out to ABC News (818-460-7777), CBS News (212-975-3247) & NBC News (1212-664-6192). Demand that they report on the BLS jobs report not being reported to viewers during their morning show on November 10.
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