Monday, July 25, 2022

Biden Recession Is Here

Bidenistas are attempting to redefine the term Recession.  The common definition that has been used for years is when the economy shows lower Gross Domestic Product growth for two straight quarters, it tells us that we are in a Recession.   Feckless Joe Biden and his minions are in denial.  What we will see shortly is Stagflation as occurred during the horrible Jimmy Carter Presidency that is high inflation with low or no economic growth.  Inflation on a national basis is above 9%.  In many states it is even higher.  And, that is not a real number because food and energy costs are not included in the number.  Real inflation is well over 17% and anybody who shops in a store, or buys gas knows it. The price of everything is going through the roof.  

As the Feds continue to raise interest rates, which they must do to bring down spiralling inflation, we will see mortgage interest, car loan and credit card interest rates grow higher.  This will bring down home prices in many locations, which is already happening.  We are starting to see sellers lower their list prices to attract buyers.  In some ways that is a good thing; though as mortgage interest rates go up any savings will be eaten up by higher monthly payments.  

Joe Biden who has probably not shopped in a grocery store in 40 or more years is clueless.  Their answer to the high cost of gas is to buy an electric car.  Really!   Average cost is about $60,000 or $20,000 more than the cost of a comparable gas powered car.  The average American cannot afford to buy an electric car and even those that can will quickly realize that it just does not pencil.  It would take years to recover the additional cost if it ever gets recovered because eventually the battery will need to be replaced, which will cost thousands of dollars.  

The elite in the Socialist Fascist Party, the Deep State and Fake News just do not get it.  The Green New Deal will screw the American people; particularly the poor and middle class.  Going Green will result in a lower standard of living for all people living in the United States; but that is what they want to see happen.  The Green New Deal is really about redistribution of wealth from first world countries to third world countries.  They believe that the poor are poor because the rich are rich; but in this case it means the poor and middle class in the US that are living the good life compared to those living in abject poverty around the world.  Socialist Fascists are out to end the good life for the poor and middle class in the United States.  The rich will always be able to live the good life no matter what how bad it gets for the poor and middle class.  Let's Go Brandon!

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