Staff Reports
Well, well, well, hold onto your wallets, folks, because inflation is on the rise and it looks like President Biden’s policies are causing nothing but trouble for hardworking Americans. Breitbart Economics Editor John Carney dropped a truth bomb in a recent interview, making it crystal clear that the rising prices of goods and services are no joke. The latest economic data released in January showed prices climbing faster than predicted, with the consumer price index (CPI) and core CPI hitting their worst monthly figures since last April. Yikes, talk about a gut punch to the old pocketbook!
Carney on ‘Kudlow’: Get Ready for Inflation to Get Even Worsehttps://t.co/Sa94C8pbAg
— Old Mean Geezer (@OldMeanGeezer) February 14, 2024
Carney didn’t hold back, explaining that this inflation nightmare is just getting started. He pointed out that inflation was no longer on the decline like some folks want to believe and that we’re headed for a world of hurt when it comes to the cost of living. The numbers don’t lie, and they’re painting a pretty grim picture. The Cleveland Fed’s median and trimmed-mean measures, which are like the crystal balls of inflation, are off the charts. Median CPI jumped to a whopping 0.5 percent in January from 0.3 percent in December, and trimmed mean also shot up to 0.5 percent. Translation? It’s bad news bears.
But wait, it gets even worse. Carney highlighted that the previous year had lulled many into a false sense of security with lower inflation, but now the winds are blowing in a different direction, and there’s trouble on the horizon. And as if that wasn’t enough, legendary Reagan administration economist Art Laffer echoed Carney’s grim outlook, making it clear that things are looking pretty bleak for the Biden administration.
Laffer didn’t mince words, pointing out that rising prices are a massive political problem and that the Biden administration’s policies just aren’t cutting it. He even went so far as to predict that the current inflation nightmare wouldn’t be going away anytime soon, spelling disaster for the administration. And to add insult to injury, Laffer emphasized that people’s earnings are worth less in an inflationary economy, making it even tougher for hardworking Americans to make ends meet. Ouch, that’s like rubbing salt in the wound.
Fox Business host Larry Kudlow chimed in, pointing out the huge toll that rising prices take on family budgets and earnings. He didn’t sugarcoat it, calling it an “affordability crisis” and highlighting the serious political and economic problems it poses for the Biden administration. It looks like the struggle bus has pulled up, and the Biden administration is in for a bumpy ride.
Folks, buckle up and hold onto your wallets, because it looks like the inflation rollercoaster is just getting started. And if the experts are right, the Biden administration is in for a world of hurt. As the old saying goes, “You reap what you sow,” and it looks like the chickens are coming home to roost for President Biden and his team. Let’s hope they’ve got a trick or two up their sleeves, because it’s going to take more than luck to steer this ship through the stormy waters of inflation.
