On December 12th, Jim Grant, founder and editor of Grant’s Interest Rate Observer, called President Biden ahead of the latest US consumer price index (CPI) report. Known best for his financial-market publishing over the last 40 years, and for calling the burst of the housing bubble in 2007, he explained that inflation isn’t temporary this time around.
“Whatever this number we’re about to see reveals, inflation is, importantly, it’s not transitory. It is permanent in that you never regain the purchasing power you have lost to inflation. There’s no such thing as deflation in modern monetary life. The important thing is that the loss of purchasing power since 2020 is in the low teens, and that is not going to be recaptured.”
Following his words, the CPI shows prices to continue their trend, with core consumer prices up 0.3% monthly, and 4% yearly. Removing food and energy rates to focus on the average consumer goods, gives a solid introspection into American budgets. When looking at the items that provide a pure read on the financial situation of the nation, it becomes easy to see that we have a massive problem here in the US.
Given the way inflation has permeated every sector of the American economy, it becomes clear that Biden’s inflation rate is not only here to stay as Grant pointed out. When Biden goes to speak about the economy, he is quick to tout what he calls success out for the media. Spouting off meaningless figures, he continues to claim his administration has made jobs and gotten Americans back to work.
The fact of the matter is, that Biden has tanked this economy, and the American people are paying the price as his son Hunter and his family profit from Biden’s position. Driving prices up has been the abomination of infrastructure in the nation. Under Secretary of Transportation Pete Buttigieg trucking conglomerate Yellow went under. People are paying more to travel across unkept roads, with potholes and cracks that have been left unrepaired for years.
This inflation has been intentional. Setting the pace for this to happen, Biden undid the oil and other fossil fuel deals done by President Trump. By doing this, the US production of oil instantaneously sank. Companies needed stronger futures to keep prices down. Without them, prices would soar, and they got sky high, & haven’t come down to Trump-era levels.
Just trying to explain the level of these economics to someone who doesn’t live here makes little sense. Given how little we keep after taxes, we don’t have government-paid-for health care, and we aren’t making the strides we once were as a nation. Instead, we are regressing and it’s not what we as Americans were promised.
Ask any honest American, and they’ll tell you that Biden can take these crown jewels with him when he leaves office. We don’t need to keep his inflation policies when his time in office is up, or even any of his ideas. Rather, we need to purge our government and economy of any traces of his involvement in the nation.
If the administration left us with anything, it would be the true colors of our neighbors. As we watch people attacking one another to defend their positions around Biden’s policies, it becomes increasingly clear that people are getting too much of their information from social media. Looking at the realities of the situation without watching the news or paying attention to social media, you suddenly start to see the realities of Bidenflation.
As numerous liberals are crying out for free health care, and student loans to be written off, they are slowly starting to see the realities of the situation. They are becoming aware of how brainwashed they became, and how poorly this administration is caring for them. If anything, the crown jewels might just bring people back to reality and the conservative party.