With the price of gas hitting $7 a gallon and a package of Oscar Meyer bacon hitting $9.59 out in California, you can bet inflation is on consumers' minds, and 80% of them know who did it.
Big government spending, the kind that requires the Fed to print more money than the economy can handle, is behind it. The U.S. has passed a helluva lot of gargantuan trillion-plus-dollar spending bills for things such as COVID relief, "infrastructure," bailouts of favored industries, stimulus payouts, and more in the last few years and the economy is still struggling to digest it.
Inflation, according to the Bureau of Labor Statistics, has now soared 6.8% this year, the highest rise in nearly forty years, back when the U.S. was crawling out from the rubble of the Carter years.
And today's inflation is far from done, according to the Fed, which expects to initiate three rate hikes in 2022 to fight it. As the prices soar, it's likely that that 80% might just go higher.
Fed chairman Jerome Powell says consumer spending is strong, as a sort of point of optimism, but that's weird stuff coming from him. If he's read anything about past inflationary surges, or maybe looked at the history of Argentina, he knows that consumer spending gets very strong in response to the value of the dollar falling (an inflation byproduct) as well as in response to anticipated price hikes. Commodities become more valuable than cash, and everyone wants to get his own before the prices go up. Of course people are buying; that's Your Inflation at Work.
But he's hardly the most delusional guy out there, and his hinted-at rate hikes do suggest familiarity with reality.
No, the big delusionals are the Democrats, who are continuing to push for Joe Biden's Build Back Better spend-a-thon and inflate the heck out of the U.S. economy.
The miserable bill is facing resistance in Congress, from feet-on-the-floor Democrat Sen. Joe Manchin.
According to the Daily Mail, it's kind of going like this now:
Rebel Democratic Senator Joe Manchin snapped on Wednesday after reports his opposition to the Child Tax Credit killed Joe Biden's hopes for the Senate to pass the president's signature Build Back Better bill by Christmas.
'This is b-------. You're b-------,' the West Virginia senator yelled at Arthur Delaney, a reporter for HuffPost Politics, who asked him about reports that the child tax credit has become a major sticking point in his talks with the White House.
'I'm done, I'm done,' Manchin fumed as the questions continued.
'Guys, I'm not negotiating with any of you all. You can ask all the questions you want. Guys, let me go,' he told the press as he walked through the basement of the Capitol, muttering 'God almighty' as he walked away.
It was the second blow up from the day from the senator, who is taking the blame from Democrats for the failure to move forward on Biden's signature legislation. Manchin has refused to support the bill as it stands and, in the evenly divided Senate, the president needs every Democratic vote.
He's become an object of intense focus in the past few months. Reporters stalk him out in every nook, cranny and hallway of the Capitol building; protesters wait for him outside the Capitol building and around his house boat; and his is being perpetually wooed by both parties for his vote.
On Wednesday he snapped.
This is crappy stuff, being hounded and harassed by these media clowns and Biden sycophants wherever he goes, even as he hears something very different from that 80% he represents in the Senate, who get hit by inflationary price surges wherever they go.
We've got Example A of delusional Democrats embedded in this stalky bunch that can't observe normal rules of decorum.
It gets worse when we move on to House speaker Nancy Pelosi.
The House speaker, contrary to most public-opinion polls, heaped praise upon President Biden and his job performance earlier this week, even calling him "just perfect."
Mrs. Pelosi told Mr. Biden in a speech at a Democratic National Committee Christmas-season gathering that "it is an honor and, of course, a pleasure to be here at this time of challenge — and with the coronavirus, the national insecurity for families, natural disasters."
And the times have met their man, the 81-year-old speaker said.
"Our country could not be more — it could not be better served, than with this most experienced, capable hands than yours, President Biden. He's just perfect! The timing couldn't be better," she raved.
Like Biden, she wants more government spending, particularly since Build Back Better includes millions for some of her pet projects involving her Presidio cronies in San Francisco. Now she's declaring him "perfect," something not even the gushiest Trump-supporter would have said about President Trump back when things were sane.
She's convinced, or maybe convincing herself, that Build Back Better is popular and going to pass in Congress. She's deep into her delusions and putting on a front for the public with her declarations that defy reality. Apparently she thinks if she can just keep repeating this, it all might just come true.
That brings us to the Delusion King himself, none other than doddering Joe Biden, who's mouthing unspeakably unreal statements now that Build Back Better is in more trouble than ever. Here he is, declaring that not only is Build Back Better a thing, but voters will reward him:
President Joe Biden has warned Republicans that they are "in for a problem" in the upcoming 2022 midterm elections and expressed confidence that Democrats will triumph in the crucial contests.
The president was speaking at a holiday celebration for the Democratic National Committee (DNC) at the Hotel Washington in Washington, D.C. on Tuesday when he questioned what the GOP represents.
What planet does this fool live on? The story itself, which ran in Newsweek, linked above, as well as other outlets, suggests that he thinks the Biden administration's "Democrats win" voting election "reforms," which are designed to rig election results for Democrats. That effort is being led by the inept Kamala Harris and has no chance of passage at least in the Senate. It's more stalled than even the Build Back Better disaster, which has problems of its own.
Sure, these boobs like to believe that by talking a good game, they can eventually make their plan to destroy America come to pass. But inflation is what's staring Americans in the face right now, and they've made the connection among inflation, the Fed's money-printing, and government spending packages. They know that something is wrong. That hasn't stopped Biden, Pelosi and others from attempting to delude themselves that all's well and Planet Biden is a happy place.
The worse things get, the stranger they sound. One can only wonder how delusional they're going to get.
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