JEFFREY CARTER: Unexpectedly — Expect The Financial Press to Protect Biden Like They Did Obama.
Today, the market is trading lower but not significantly lower……yet. The Wall Street Journal is spinning the number. “Inflation Edged Down…” is their headline. The rest of it is, “To 8.3%”.
Are you getting an 8.5% raise this year to cover it? Walk in, ask your boss for an 8.5% raise today and see what they say. You know, to beat inflation. Better yet, raise prices by that to your customers and see what they do.
This is the first decline in 8 months. Inflation was running at 8.5%. Believe me, the average American outside the Beltway isn’t going to be crowing about seeing inflation temper by .2%. It’s like moving a gallon of gas down from $5.50/gallon to $5.48/gallon. Just so you know, inflation is still at a 40-year high.
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Inflation isn’t about Russia, Ukraine, or anything like that. It’s about the government spending period and the lack of supply. Biden totally destroyed the supply curve in the oil industry. Yes, he did that.
Meanwhile, Americans are getting poorer by the day.
Expect the financial press to do all they can to protect Biden by spinning numbers and the news. They always did it for the Golden Boy Obama. Virtually every miss of a financial growth number was led by the word “Unexpectedly” followed by a spun description of it.
Just think of the media as Democratic Party operatives with bylines, and their obfuscations “unexpectedly” all make perfect sense.
Evergreen:
