Those of us who are not super millionaires or work in the federal government under the Biden regime know that the current state of our economy is a travesty.
Joe Biden completely wrecked what President Trump built in just a matter of months. We went from constantly winning to constantly losing in every department.
All that you really have to do is go out to the grocery store or go fill up your tank with gas and it’s painfully clear that our economy is not doing well.
There are still approximately 3 million jobs that are unfilled right now because of the pandemic as well as because of Joe Biden’s unlawful mandates.
But apparently, some people don’t think our economy is in bad shape. In fact, if you ask Jim Cramer from CNBC’s Mad Money, he’ll tell you something that is way different.
Jim Cramer actually said that, “Today we have the strongest economy, perhaps, I’ve ever seen.”
Is this guy being serious? Did he get paid to say that? Because according to the new Consumer Price Index numbers that came out on Friday, inflation is the highest that it’s been in 39 years!
How does that suggest a booming economy? How does paying more for practically everything in life equal the strongest economy that Jim Cramer has ever seen?
— Mark Bednar (@MarkBednar) December 10, 2021
BREAKING: Inflation in November rose to 6.8% (y/y) – the highest since 1982.
The US has now experienced six months of over 5% inflation.
Prices are rising across the board: For gas, food, new and used cars and housing (rents) pic.twitter.com/T5IJvL6Avi
— Heather Long (@byHeatherLong) December 10, 2021
He mentioned that the unemployment claims are the lowest they’ve been since 1969. Okay…well that’s great, but that’s just because there are already so many people on unemployment still that there weren’t as many to file for unemployment. We’re still above pre-pandemic level here in the US.
Larry Summers, who served as Treasury Secretary under former President Bill Clinton and director of the National Economic Council under former President Barack Obama, warned during a CNN interview last month that it was unlikely that inflation rates would return to normal any time in the near future.
“I think the odds are that we’re going to have inflation of a kind we haven’t seen in 30 years, until either the Fed takes some significant move with respect to monetary policy, or until there’s some kind of accident that disrupts the economic growth we’re enjoying,” Summers responded. “I think it’s possible but quite unlikely that inflation will recede back to its normal 2 percent level without some significant change in the path we’re now — we’re now on. I think the Fed has made a significant mistake in the approach that it’s taking by doubling down on the massive fiscal stimulus we had at the beginning of the year with really easy monetary policy.”