Joe’s Inflation Tax Trashing American Dream

As Watters says, “Moving back in with your parents isn’t the American Dream,” while WSJ’s “Inflation Tax on Workers” reminds bungling Biden that “Average real weekly earnings are down 4.4% in the last 12 months.”

“Well, that was ugly,” the newspaper’s editors noted, as “inflation in June roared to its highest mark to date this year, rising 1.3% for the month & 9.1% since Joe Biden & Co. insisted “inflation is transitory.” Instead of an end in sight, however, we’re getting “greater declines in real wages and more Federal Reserve tightening that is likely to hit asset prices [& increase chances for a deep recession]. No wonder Americans are in a sour mood ... it's a tragedy we have come to this pass.”

As usual, Biden used his deluded economists’ talking points in claiming the DOL’s June numbers are outdated. Apparently, their decaffeinated tea leaves give them solace because the “core” price index that does not include food & energy rose “only” 0.7% in June. Yet, as the WSJ says, those “core” prices “accelerated” in June & are “up at an annual rate of 8% in the last 3 months thanks, in part, to housing costs that are soaring faster than the smoke from whatever it is Joe’s smoking.

Davd Soul