New in PJ Media:
It was as predictable as the sunrise that establishment economists, abetted by the establishment media, would find a way to exonerate Old Joe Biden and his handlers of any responsibility for the disastrous economy. It would even be a stretch for them to blame their all-purpose whipping boy Donald J. Trump at this point, however. So, a new scapegoat had to be found: you. Yahoo Finance’s Alexandra Semenova announced Friday that “US consumers are ‘in a deep funk,’” and that’s why the economic news is so unremittingly bad. Nothing to do with the puppet of the extreme Left in the White House, you see.
The problem, as Leftist economists see it, is that inflation is making consumers less confident, which leads them to spend less. “As concerns around inflation soar,” Semenova explains, “American consumers’ outlook on the trajectory of the U.S. economy has deteriorated, worrying some experts that negative attitudes could dampen expenditure and put a dent in economic growth.” Of course! It’s not the galloping inflation that is dampening expenditure and putting a dent in economic growth, but the consumers’ “negative attitudes.” Change the attitudes, and voila! The economy will be healed!
This theory is presented seriously amid all manner of dire information. “The University of Michigan’s preliminary consumer sentiment index dropped to 61.7 in the first half of this month, the lowest since October 2011, from a final reading of 67.2 in January,” reports Reuters. The consumer sentiment index fell as “U.S. inflation accelerated last month in the fastest rise since 1982, with prices across a wide range of goods and services soaring further amid lingering shortages and supply chain disruptions.”
Meanwhile, on Super Bowl Sunday, “chicken wings alone are running as much as 26% higher. Steaks are up 23%. And hamburgers are up 17%.”
Nevertheless, the learned economists at the University of Michigan have determined, in their infinite Leftist wisdom, that the decline in consumer confidence has been driven not just by “the least favorable long-term economic outlook in a decade” and “weakening personal financial prospects amid rising inflation,” but also by “less confidence in the government’s economic policies.” See, what we have now is not a crisis of inflation or the result of putting a gang of socialists with no real-world experience in charge of the world’s mightiest economy. No, what we have is a crisis of confidence! If we just trust Old Joe, one of the world’s least trustworthy men, all will be well.
There is more. Read the rest here.
mortimer says
The globalist oligarchs and their paid minions and bribed lackeys like Beijing Bribed-man want to crush the working class and the middle class. They want compliance. They will not rest until all constitutional rights are removed from the freedom of speech to the right to bear arms and hold private property.
We see the globalist elitists and George Soros minions in Ottawa, Canada attempting to CRUSH the freedom of assembly with the help of GOFUNDME and multinational banks that are taking away the freedom to organize protests against a government in power.
The final stage they desire is to use facial recognition software to identify people, destroy their livlihoods, and thus remove the right to protest by punishing anyone who denounces the government in power. It will chill any and all protests. They are doing that now in Canada.
The Dems and the Bribed-man’s handlers will be looking to the Canadian government for tips on how they may in future CRUSH dissent anywhere, any time throughout the U.S.
The people are now the enemies in the way of the absolute, institutionalized power of the oligarchs and their elites.
Don McKellar says
Yahoo! News and the rest, is a nonstop left-fascist factory of spin these days. The Marxists run the place.
Walter Sieruk says
The villainy of Joe Biden has no limits, as seen in many American workers losing their much need jobs seen in the oil pipeline business.
Joe Biden in Office has the outcome of high prices for fuel and the gas station and at the grocery store, the supermarket empty shelves are becoming more and empty. Likewise, prices are growing higher. Things will get worse.
All because of that awful Biden with his socialist economics, he is a disaster for both America and the American people.
Walter Sieruk says
Joe Biden with his continue interference in the business of free enterprise because of his socialism which, especially for Biden is his federal government meddling in capitalism is an economic disaster.
Where are all the people who rightly recognize the sold, firm economic precepts of Adam Smith with his great and grand book THE WEALTH OF NATIONS in America when this country needs them so much ?
Nevertheless, the villainy of Joe Biden has no limits, as seen in many American workers losing their much need jobs seen in the oil pipeline business.
High prices for fuel and the gas station and at the grocery store, the supermarket empty shelves are becoming more and empty. Likewise, prices are growing higher. Things will get worse.
All because of that awful Biden with his socialist economics, he is a disaster for both America and the American people.
Joe Biden is mindlessly or viciously continuing the same old flawed socialist policies of former boss, Obama, maybe Obama is still Biden’s real boss ?
Nevertheless, the harm done to the United States economy as seen by all the Americans who have lose the jobs because of Biden is awful.
Furthermore, the high prices for fuel and the gas station and at the grocery store, the supermarket empty shelves are becoming more and empty. Likewise, prices are growing higher. Things will get worse.
All because of that Joe Biden with his socialist economics along with the power elate who hold him up. – Damn them.
gravenimage says
Leftist Economists Discover What’s Wrong with Biden’s Economy: You
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I’d always guessed this was my fault… sarc/off
Really, this seems like a rehash of the “malaise” speech. Just appalling.
OLD GUY says
Ok I admit it’s my fault. I’m now confident in Biden’s policy. So now fix it without starting another war somewhere.
Walter Sieruk says
What else can any rational person expect out of Joe Biden other than him damaging the United States economy ?
After all, he didn’t damaged by destroyed the US/Mexican border security safety border wall. Biden also destroyed all the had been ,sort of, accomplished in Afghanistan by giving away that land to the Taliban. Likewise after that he flooded throughout US many unvetted some possibly dangerous Afghan refugees . They would have stayed in Afghanistan in the first place if Biden didn’t create that Taliban calamity in the land .
So since Biden terribly harms or destroys everything else he comes into contact with ,then it stands to reason that he would also damage to economy.
Walter Sieruk says
High fuel prices at the gas station and likewise high food prices at the grocery store are the outcome of the awful socialist policies that Joe Biden keeps pushing and forcing on America.