Author: Author1

Assessment: In any case, the Democrats—since they are assumed to be “in power”—will need some sort of scapegoat for inflation since it continues to eat into American’s earnings …

According to new data released by the Bureau of Labor Statistics, price inflation in February rose to the highest level recorded in more than forty years. According to the Consumer Price Index for February, year-over-year price inflation rose to 7.9 percent. It hasn’t been that high since January 1982, when the growth rate was at 8.3 percent.

February’s increase was up from January’s year-over-year increase of 7.5 percent. And it was well up from February 2021’s year-over-year increase of 1.7 percent.

A clear inflationary trend began in April 2021 when CPI growth hit the highest rate since 2008. Since then, CPI inflation has accelerated with year-over-year growth nearly doubling over the past 11 months from 4.2 percent to 7.9 percent.

“And I heard a voice in the midst of the four living creatures saying, “A ^[a]quart of wheat for   denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” Rev. 6:6 

Now, high level economists have changed their tune again with Janet Yellen admitting this week that “We’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high.” Yellen had earlier predicted that CPI inflation would drop to around 3 percent, year over year, by the end of 2022.

Yellen was also careful to attempt political damage control by insinuating that price inflation is a result of uncertainty over the Russia-Ukraine war.

Never mind, of course, that the inflation surge began last year and that January’s CPI inflation rate was already near a 40-year high. The current crop of embargoes and bans on Russian oil imports implemented during March were not drivers of February’s continued inflation surge.

Few members of the public, however, will bother with these details, and this will benefit both the Fed and the administration. As far as the Fed is concerned, the important thing is to never, ever admit that price inflation is really being driven by more than a decade of galloping Fed-fueled monetary expansion (aka money printing). This was done largely at the behest of the White House and Congress to keep interest on the debt low and government spending high.

So, we can expect the administration to portray inflation as “Putin’s fault.” In a Friday speech to Democratic activists, Biden even claimed the high inflation rates are not due to “anything we did.” The tactic will no doubt work to convince many. But it’s unclear how many.

Read More @ Mises Institute HERE

MasterCard and Visa, have shot themselves in the foot shutting down the accounts of anyone whose political opinions are disliked by the political and media elites ...

Chinese state banks had restricted purchases of Russian commodities and stopped issuing U.S. dollar-denominated letters of credit for purchases of physical Russian commodities ....

Assessment: “This is Biden’s inflation and he needs to own it,” wrote former Barack Obama administration czar Steve Rattner wrote on social media after the White House tried to blame Putin for inflation …

The President made his remarks at a Democrat policy retreat to Democrats in Philadelphia in a rambling speech about issues facing his presidency.

“Democrats didn’t cause this problem. Vladimir Putin did,” Biden said, pointing to the latest inflation reports.

The President is suffering from terrible ratings on the economy due to his failure to address inflation.

Sixty-three percent of Americans disapprove of the president’s handling of the issue of inflation and rising prices, according to a recent poll, including 54 percent who strongly disapprove.

During his speech, Biden falsely blamed Putin’s invasion of Ukraine for causing gas prices to rise in 2022, starting in January.

“From the moment he put his over 150,000 troops on the Ukrainian border, the price of gasoline in January went up 75 cents,” he said, referring to Putin.

Prices rose about eight cents per gallon in January and did not spike until March when Putin significantly escalated his war in Ukraine.

“All hands shall be feeble, and all knees shall be weak [as] water.” Ez. 7:17 KJV

But even former Democrat officials have outlined that Biden’s reckless spending agenda, as well as the Federal Reserves’ policies, overstimulated the economy and led to growing inflation.

Read More @ Breitbart HERE