Bidenflation
Bidenflation is a central element of Bidenomics, the economic program of socialist leader Joe Biden. It is an extremely harmful type of inflation and agflation that erodes the value of nearly everyone's savings and wages, without any way to protect against it with investment in gold or access to interest rates as high as the inflation rate. Bidenflation is caused by the senselessly wasteful spending and economic policies of the Biden Administration, taking root in early 2021.
Contents
Roots
Beginning in Biden's first 100 days, inflation began creeping up. A federal judge found Biden's farm debt relief program racist and unconstitutional.[1]
Per October (1-19), 2021 poll, Biden support has dropped sharply among independent voters. The non-improvement, Gallup attributes to recent setbacks such as the infrastructure bill debate and issues such as inflation and worker shortages.[2]
The spike in inflation was especially hard towards 2021 Thanksgiving day, most Americans affected, polled, blamed Biden.[3] Biden called more inflation "a great asset" and a reporter questioning its impact on the 2022 midterm elections a "stupid son-of-b****."[4]
Allegedly "transitory"
Though Biden administration officials, in 2021, called high inflation “transitory.” But Biden on at least one occasion acknowledged the possible impact of generous social spending. By Feb 2022, Biden, reluctantly admitted:[5] "Americans are being 'clobbered' by inflation."
Per Feb 10, 2022 report, it showed, inflation soared to a 40-year high.[6] When NBC's Lester Holt asked him, Biden first snapped arrogantly at him: "wise guy."[7]
In March 2022, Biden blamed ‘Putin’s price hike’ --no less-- for February Inflation...[8]
Indeed, on Mar 10, 2022, Fox News' journalist Doocy jabbed at Psaki: ‘Are you guys going to just start blaming Putin for everything until the midterms?’[9]
In an ABC News/Ipsos poll, based on interviews conducted between March 11–12, 2022, 70% of Americans disapprove of Biden's handling of inflation. Though support ban on Russian oil.[10]
On Apr 14, 2022, Biden had the audacity, with a straight face, conveniently, pinning it all on Ukraine war. Claiming:[11]"What people don't know is that 70% of the increase in inflation was the consequence of Putin's Price Hike."
In June 2022, Biden admitted:[12]
We’re gonna live with this inflation for a while.
In June 2022, Biden blamed it all, conveniently, on Russia. "The reason why gas prices are up, is because of Russia—Russia, Russia, Russia. The reason why the food crisis exists, is because of Russia, Russia..."[13]
In July 2022, Biden said the US is not in a recession, despite two consecutive quarters of shrinking economy.[14] Though the WH did admitted -earlier- on the inflation reality by announcing a so-called Inflation Reduction Act.
Months later, in Sep 2022, the Dow Jones 20% fell from intraday record high of Jan thst year.[15]
Biden partied over 'Inflation Reduction' just as inflation surged upward.,[16] in fact, Dems.' Signature legislation actually 'goosed' higher prices.
Under Bidenism, NYC hit record numbers in homelessness.[17]
Some project that, "US recession may strike in September 2023 as Fed continues to fight Bidenflation."[18]
In Jan 2023, noted economist Steve Moore blasted Congress for ramming through insane $1.7T Omnibus Spending Bill.[19]
Campaiging for his 2024 bid, desperate to try to win his image, with the economy in trouble, he/his team came up with a pitch "Bidenomics".
Much in the MSM media who are more than happy to serve him, went into overdrive.
| “ | With two-thirds of the country unhappy with how President Joe Biden is handling the economy, the White House will have to fight to sell Americans on "Bidenomics."[20] | ” |
Erosion of savings
Bidenflation is high inflation without any investment possibilities to protect against it. Interest rates available to depositors are much lower than the inflation rate during Bidenflation.
Loss in real value of gold
Bidenflation erodes the real value of gold, in contrast with inflation. Gold actual lost value by mid-2022,[21] despite red-hot inflation at 9.1%.
References
- ↑ https://www.thegatewaypundit.com/2021/06/unconstitutional-federal-judge-suspends-bidens-racist-anti-white-farmer-debt-relief-program/
- ↑ Patrick Reilly, "Biden support has dropped sharply among independent voters, poll finds",
NYPost, October 22, 2021.
The data, taken from Oct. 1-19, suggests no improvement in public support, which Gallup attributes to recent setbacks such as the infrastructure bill debate and issues such as inflation and worker shortages.... Gallup said the 11-point decline is larger than any prior president registered between his first and third quarters. Next closest are President Barack Obama at 10 points and Bill Clinton at seven points.
- ↑ Mark Moore, "More than 75% of US hit by inflation and most blame Biden, poll shows," NYPost, Nov 24, 2021
- ↑ Remarks by President Biden Before Meeting with the White House Competition Council, WH, Jan 24, 2022.
- ↑ S Nelson, Joe Biden admits that Americans are being 'clobbered' by inflation, Feb 4, 2022.
- ↑ Christopher Rugaber, "US inflation highest in 40 years, with no letup in sight, AP, Feb 10, 2022.
- ↑ Nightly News. Feb. 10, 2022. NBC News [1] [2]. "you're being a wise guy, a little."
- ↑ Charlie Spiering, Joe Biden Falsely Blames ‘Putin’s Price Hike’ for February Inflation,
Breitbart, 03/10/2022.
President Joe Biden on Thursday reacted to the latest report showing soaring inflation numbers for February by blaming Russian President Vladimir Putin.
“[T]oday’s inflation report is a reminder that Americans’ budgets are being stretched by price increases and families are starting to feel the impacts of Putin’s price hike,” the White House said in a statement sent to reporters in Biden’s name. - ↑ Virginia Kruta, "Doocy Jabs At Psaki: ‘Are You Guys Going To Just Start Blaming Putin For Everything Until The Midterms?’",
Daily Wire, Mar 10, 2022.
On inflation: 'How long do you guys think temporary is?'
Fox News White House Correspondent Peter Doocy cornered Press Secretary Jen Psaki on both her claims that inflation was likely to be temporary and the Biden administration’s repeated insistence that the rising cost of gas could be tied solely to Russia’s invasion of Ukraine. Doocy pointed to Psaki’s claim, made a short time earlier in Thursday’s White House press briefing, that economists were predicting that inflation would begin to resolve by the end of the year — and he noted that the Biden administration had been claiming that inflation would be “transitory” or “temporary” since spring of 2021, only to reach record levels at the end of the year. - ↑ Americans continue to support ban on Russian oil | Ipsos*Brittany Shepherd, "Americans remain critical of Biden's handling of inflation, support ban on Russian oil: POLL", ABC News, March 13, 2022.
Seventy percent of Americans disapprove of Biden's handling of inflation.
Americans feel economic impact of crisis in Ukraine
Consumer prices continue to soar on everyday necessities such as gas and food.
Americans overwhelmingly support the White House's proposed ban on Russian oil, though they remain very critical of President Joe Biden's handling of the economy, in general, and inflation, in particular, according to a new ABC News/Ipsos poll.
Over the past several months, Americans' wallets have been hit by skyrocketing inflation, and now, Biden is feeling that crunch in his approval numbers. Seventy percent of Americans disapprove of his handling of inflation. - ↑
BIDEN: "What people don't know is that 70% of the increase in inflation was the consequence of Putin's Price Hike."
— Breaking911 (@Breaking911) April 14, 2022 - ↑ Trevor Hunnicutt, Biden warns U.S. inflation could last 'for a while', Reuters, June 11, 2022.
- ↑
BIDEN: "The reason why gas prices are up, is because of Russia—Russia, Russia, Russia. The reason why the food crisis exists, is because of Russia, Russia..."
— Breaking911 (@Breaking911) June 30, 2022. - ↑ Brooke Singman, Megan Henney, Biden says US not in a recession despite two consecutive quarters of shrinking economy, Fox Business, July 28, 2022.
Biden, on Monday, said the U.S. is 'not coming into recession'
- ↑ Caroline Valetkevitch, Dow falls 20% from intraday record high of Jan 5, Reuters via Yahoo, September 23, 2022.
- ↑ Bob Unruh, Biden parties over 'Inflation Reduction' just as inflation surges upward, WND, October 8, 2022.
- ↑ NYC homelessness hits record number, FOX 5 NY STAFF, Dec 17, 2022.
- ↑ Lightning Strikes? US Recession May Strike In September 2023 As Fed Continues To Fight Bidenflation (10Y-2Y Yield Curve Inverted For 112 Straight Days), December 20, 2022
- ↑ WATCH: Economist Steve Moore Blasts Congress for Ramming Through Insane $1.7T Omnibus Spending Bill, NewsBusters, Jan 3, 2022.
- ↑ Drew Holden, Media Try To Sell a Dubious Public on the Benefits of 'Bidenomics', Free Beacon, July 5, 2023
- ↑ https://tradingeconomics.com/commodity/gold
