It is out of altitude that you can’t fly, it is out of speed, and it is out of your ideas. This old saying about the root cause of every airplane crash seems to be the operating principle of Joe Biden’s economic team.
By any standard of measure, our economy is heading into recession…if we are lucky.
Supply chain problems caused by panicked responses to the Wuhan viruses haven’t abated. Pilot is one of the major East Coats truck stop chains that warns customers about diesel shortages this summer. Housing market looks more and more like 2007. Our GDP is decreasing.
Atlanta Fed recently dropped Q2 GDP to 0.0%. pic.twitter.com/NYZJ7AZfZd
— Phil Kerpen (@kerpen) June 15, 2022
The labor force participation rate has lost all of President Trump’s hard-fought gains.
Why is it that employers can’t find enough people?
The drop in labor force participation doesn’t really explain the phenomenon. Maybe a 1% drop from pre-pandemic.https://t.co/94BguFLkRB
— Honey Badger (@SalsaPrice) June 12, 2022
Since the beginning of the year, the Dow Jones lost 7,000 points.
All of these issues are underpinned by inflation. Our stomachs are churning from inflation. The nominal rate is below 9%. That’s a high of 40 years. People who have studied this material believe that it is extremely understated.
Is this an alternative universe to the 8.6% inflation? pic.twitter.com/PI5cmnWU8Y
— Wall Street Silver (@WallStreetSilv) June 11, 2022
Bidens’ Fed is unwilling to take the steps it must to pull us out of this inflationary spiral because they fear the impact on the 2022 elections.
Biden, his minions, and others talk about stopping inflation. However, they only have one solution: send money to voters so that the morons can win the election.
The Dow Jones Industrial Average is only 2,97% lower than before the COVID-19 crash after 2 years of some of the most insane stimulus ever devised, more $5 Trillion. pic.twitter.com/e7h82w562I
— Ran NeuNer (@cryptomanran) June 13, 2022
Given all that, it was less than surprising that the Biden White House’s big idea for handling high gas prices was to send out “gas rebate cards” to random people with mailboxes.
Recent days have seen senior White House advisers look at alternative solutions to rising gas prices.
Biden officials are taking a second look at whether the federal government could send rebate cards out to millions of American drivers to help them pay at gas stations — an idea they examined months ago before ruling it out. According to two sources familiar with this matter, Aides found it difficult to create enough rebate cards due the U.S.’s chip industry shortages. Another person who has been familiar with the talks said that White House officials are concerned about whether there is any way for consumers to use their cards to buy gasoline. Even if they embrace the proposal it will likely need to be approved by Congress and would face stiff opposition from legislators wary of spending additional money.
It is amazing to see the level of stupidity that believed that consumers should be given rebate cards rather than address the Biden policies, which have caused a shortage of fuel and almost doubled gasoline prices in just two years. No, the war in Ukraine doesn’t have jack sh** to do with it. Long before Russia invaded Ukraine, the fuel price rise was already well under way.
It is too ironic to be saved from an inflationary and stupid policy by a faulty supply chain.