The Biden economic crisis is hot. The few signs of hope are cut short every time Biden dumps a new policy or spends more money. If Republicans don’t win in November, we are going down. Republicans may not be great but they will turn some of these economic policies around and stop others. (video below)
- Retail sales increased 0.5% in March, boosted by a big jump in gasoline prices to 18.3% this month.
- Import prices climbed 2.6%, the biggest one-month jump since 2011.
- Jobless claims rose by 185,000 and were up more than expected.
- WPI (World Price Index) inflation last month was 13.11 percent on the hardening of prices of crude oil and non-food items
- The cost of shelter is now up 5%, as a housing shortage has driven up prices in both the home property and rental markets.
- Current data organized by federal officials indicate that the cost of groceries has risen by 9% over the last year.
- But certain aisles in your supermarket may contain foods that are marked up as much as 20% year-over-year, with prices forecasted to continue to spike well into 2022.
- The inflation rate in 1978 was 7.59%. It’s now 8.5%.
FOOD INFLATION
Notably, food prepared at home now costs 10% more than it did a year ago, making it more difficult for consumers to save money by eating out less. In comparison, the year-over-year average cost of takeout and restaurant meals has climbed 6.9%.
- Flour and prepared flour mixes: 14.2%
- Butter and margarine: 14%
- Meat, poultry, and fish: 13.8%
- Milk: 13.3%
- Eggs: 11.2%
- Fresh fruits: 10.1%
- Bread: 7.1%
- Fresh vegetables: 5.9%
LAST NIGHT ON LEVIN
Host, author, lawyer Mark Levin made note of the inflationary numbers recorded by CNBC’s Financial Editor Jeff Cox.
Consumer prices (CPI) increased 8.5%, the highest since the stagflation days of 1978.
The Producer Price Index increased to 11.1%, the largest since records were first kept in 2010.
Stripping out food, energy and trade services, so-called core PPI rose 0.9% on a monthly basis, nearly double the 0.5% estimate and the biggest monthly gain since January 2021. Core PPI increased 7% on a year-over-year basis.
PPI is considered a forward-looking inflation measure as it tracks prices in the pipeline for goods and services that eventually reach consumers.
The increase in wages of 5.6% can’t keep up with the cost of living, data on CNBC reports.
Food rose 1% last month and 8.8% for the year. Rice, ground beef, citrus fruits, fresh vegetables, and all posted grains rose more than 2%.
Energy prices were up 11% and 32% respectively, as gasoline prices rose 18.3% for this month. The 18.3% surge in gasoline prices accounted for more than half the increase in the CPI. Biden did that.
Clothing, services excluding energy and medical care increased .6% for the month, transportation services rose .6%, bringing the twelve month gain to 7.7%.
The former transportation secretary Chao said the supply chain prices are due to Biden policies [and California’s Gavin Newsom]. We never had a problem before. Levin also gave an example of what the problem is. Biden said the ports are working 24/7. Oakland has 7 ports but only one is working 24/7. It’s because of union rules for the longshoremen, and environmental rules in California but Biden won’t do a thing about it.
All Biden does is go after Big Meat and Big Energy. His policies are destroying our economic system, pensions, salaries, and his policies increase medical costs. Plus ,there will be food shortages. Democrats embraced the Bernie Sanders communist agenda. They are instituting the Biden-Sanders communist agenda.
The debt is over $30 trillion – it’s unimaginable. The interest rate on this as our currency is devalued will be astronomical. The rates will start to kick in. Costs will go up and supplies will go down as Democrats abuse the laws of economics. Biden wanted to add $6 trillion in the Build Back Better bill. Where would that have taken us?
If you keep printing money, creating chaos and warring on fossil fuels, this is what you get. Now we beg Venezuela and Iran for oil. Putin didn’t do it — Biden, Schumer, Pelosi, Democrats did that.
Crime is soaring and there is absolute lawlessness as the Attorney General goes after parents at Board meetings. The biggest investigation the DoJ has is J6 paraders, not the crime syndicates, cartels.
Look at the horrific disaster of the surrender of Afghanistan, 13 dead US soldiers plus over 700 dead Afghans.
Under Biden, Russia invades and threatens to use nukes against us. Iran is getting nukes, and China is producing more nukes than ever before — none of this happened under Trump.
At the same time, Democrats are indoctrinating our nation’s children with LGBTQIA, and CRT ideology. They are incorporating it into every agency of government. Climate Change extremism is incorporated into every agency.
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