Democrats and Marxists ALWAYS blame their victims of their policies for the damage they do. This has been true for many decades, going back to the Soviets blaming the farmers and businesses for the Soviet Union’s economic issues.
Biden blames companies for inflation, accusing them of “price gouging” for raising prices to cover inflating costs. Once they start with “price gouging” it’s a sign that government’s going from clown to predator. Nixon tried it in the 1970’s and it was a disaster. FDR tried it in the 1930’s and it was a Depression.
Biden blames companies for inflation, accusing them of “price gouging” for raising prices to cover inflating costs.
Once they start with “price gouging” it’s a sign that government’s going from clown to predator.
Nixon tried it in the 1970’s and it was a disaster. FDR tried it… pic.twitter.com/uwJNMCyJrZ— Peter St Onge, Ph.D. (@profstonge) December 3, 2023
Federal Reserve Chair Powell Maintains Caution Amidst Inflation Challenges
Federal Reserve Chair Jerome Powell recently engaged in a discussion with Spelman College President Helene Gayle, where he emphasized the need for caution in assessing inflation and expressed the Fed’s readiness to take further policy measures if necessary.
Powell began by highlighting positive signs of the U.S. economy gradually achieving equilibrium between labor supply and demand. He particularly emphasized the ongoing strength in job creation, albeit at a more sustainable pace.
While Powell acknowledged a recent drop in overall inflation to 3% over the 12 months leading to October, his primary focus remained on core inflation. Core inflation, which excludes volatile components such as energy and food prices, remains at 3.5%, significantly above the Fed’s 2% target.
Despite welcoming lower inflation readings in recent months, Powell stressed that continued progress is essential to reach the Fed’s 2% inflation objective. He cautioned against premature declarations of victory on the inflation front, indicating the need for vigilance. Continued below the Goldco Ad
One significant concern is that a substantial portion of employed Americans, around 60%, report that their income hasn’t kept pace with inflation. While approximately two-thirds of employed individuals have received pay raises since the previous October, the majority still feel their incomes fall short in the face of rising prices.
The U.S. is also grappling with the prospect of soaring electricity prices in the coming years. As the nation transitions toward electric vehicles and heating, electricity demand is expected to increase significantly. This trend will be most pronounced in the Northeastern U.S., with regional electricity demand projected to surge by about 70% by 2040, according to ISO New England. Eversource, the region’s largest utility, anticipates a staggering 150% increase in demand by 2050.
However, the supply of electricity is struggling to keep pace with this growing demand. Proposed wind farms, for example, are facing substantial cost overruns, compounding the challenge of meeting future energy needs.
Inflation, unemployment, and the national debt are all rising. The southern border is experiencing an invasion unlike any other in our lifetime. Gas prices continue to hurt Americans everywhere because of Biden’s all out war on American energy production. Instead of dealing with these pressing matters, Sleepy Joe is out campaigning on spending hundreds of billions of taxpayer dollars to prop up renewables and Green New Deal policies. The great people of Colorado’s Third District will not fall for Joe’s lies and deceit. They know the damage he’s done to our country and can feel it in their pocketbooks. Lauren Boebert
In the realm of oil prices, there are indications that prices could reach $100 a barrel in 2024, driven by voluntary production cuts by OPEC+ members. Saudi Arabia, the leading OPEC member, has agreed to extend its voluntary production cut of 1 million barrels per day until the first quarter of 2024. Other nations, including Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, are also reducing their oil production.
However, concerns linger regarding the willingness of all OPEC nations to adhere to these production cuts. Traders and markets are skeptical about the commitment of some member states to fulfill their pledges, which could impact the effectiveness of these efforts to stabilize oil prices. Continued below this next fast clip on inflation
Bidenomics has crumbled the once-great American economy.
Need proof? Just look around — empty storefronts, inflated gas prices and rising costs for groceries.
Those are the symbols of the Biden presidency. pic.twitter.com/A9bp7Te3Js
— Mike Rogers (@MikeRogersForMI) November 24, 2023
The communication of these production cuts has added to the uncertainty, as individual member states issued separate statements on their voluntary reductions, deviating from the previous practice of a unified OPEC+ press release.
To Sum It All Up: Federal Reserve Chair Jerome Powell’s cautious approach to inflation reflects the ongoing challenges facing the U.S. economy. The persistence of elevated core inflation rates, coupled with concerns about income levels not keeping up with rising prices, underscores the need for careful economic management. Additionally, the looming issues of surging electricity demand and volatile oil prices further highlight the complexities of managing the nation’s economic landscape.
James Kravitz, freelance writer for Whatfinger News
Literal clown world. https://t.co/2sJ46ZiwLz
— Spike Cohen (@RealSpikeCohen) December 3, 2023
Is The USA is about to enter a recession? In the chart below the US Unemployment figures in millions (white line) next to the recessions (red bars). There is a clear correlation. Shortly after the unemployment figures start rising, a recession usually follows. As you can see, the unemployment numbers have recently started rising. Source: Clive Thompson LinkedIn – Wall Street SIlver
- Jerome Powell says Fed ‘won’t hesitate’ to raise interest rates again if warranted (Fox Business) Fed Chair Powell says it would be ‘premature’ to declare victory in fight against inflation – FX Hedge
- You literally can’t even buy dish soap in New York because everything is locked up And you have to stand around for a few minutes waiting for an employee to come unlock it. These stores need more workers to run around unlocking, making the stores less profitable and products will become more expensive. – Wall Street Silver – Clip at Twitter
