Thursday, January 25, 2024

Inflation Couldn't Save Bidenomics

For a career politician Biden seemed a bit clueless regarding Bidenomics and inflation. On second thought a whole lot of politicians are out of touch when it comes to inflation as if inflation going down after a period of large price increases is a Good Thing. Even if it is, and if only because it isn't quite as bad. Problem with that thinking is it ignores the reality that these dramatically increased prices are not returned to previous levels when inflation slows. They are not going up as fast, but they are still going up, and folks in the real world are suffering from the baked-in, large price increases. 

And this is what sank the USS Bidenomics. In 2022 inflation in the US was 8.2% while GDP grew at only 1.9%. Real people in the real world may not know the numbers but they feel the pain in their wallets and a continuous chorus of "How Grate I Art" could not save the ship. 

We're headed right into the eye of the silly storms so let's see if Biden can cross the ocean on the USS Abortion.