If we look at the history, nothing is more destructive to a peaceful economy than Inflation. All you need is some horrible policymaking and a war in oil-producing countries, and Joe Biden did just that. Former President Donald Trump not only foretold that Bidenflation will force gas prices above $6.00 price levels, but it will resultantly affect the price levels of food and groceries.
When Donald Trump was in office, inflation averaged 1.2% annually compared to Joe Biden’s record 7.9% for the 12 month period following, 7.5%, 7.0% and 6.8% in the previous 3 months. The worst part is that Biden is not even concerned about it, as if it doesn’t matter. People actually believe that not only Biden has a poor economic agenda, but his policies are actually aimed towards bringing more inflation. And that would not be false, given the upward curve of monthly Bidenflation numbers.
Donald Trump, during and after his presidency, was highly criticized by the left and its media allies on his prophecies about Joe’s poor economic choices. The policies “Will lead to an economic disaster of epic proportions”, the former President had said, which brewed a storm of criticism from his opponents. Now they’re trying to downplay the threat of inflation because they hate saying Trump was right.
Joe Biden can blame the Russian-Ukrainian conflict all he wants, and he can blame COVID, but he is the one who injected a huge economic spending package last year. The Dems, ironically, treat inflation like it’s rocket science, as if their economists are not capable enough to tell them how such a spending bill will destroy the US economy. They are constantly trying to cover up their mistakes and incompetent, simple-minded policies with patriotism.
The Biden administration has injected $3.4 trillion (in addition to a $6 trillion spending package) in the US economy in 12 months. It’s not rocket science; if a country has more money injected, people will have more to spend, and that will drive up the prices high as producers have to match the demand with the supply they have.
Data from BLS shows that compared to 12 months ago, the expenses in an average American’s everyday life have gone up; this does not even include how gas prices have more than doubled in the past few weeks.
At the current rate, it looks like it will be a challenge to afford food and shelter for the average American soon. Unfortunately, Biden’s answer to these problems is to tighten the gas supply while demand is through the roof; you don’t even have to be educated to figure out how high demand and low supply will hurt Americans. But does Biden care?