For the last year CNN and the rest of the Democrat spinners’ circuit have been calling the Biden-induced inflation “transitory. They assured us that prices were only going up a little bit and only for a short time while our economy recovers from the pandemic. When average gas prices dropped 7 cents last week, it was hailed as the first sign that the trend was ending.
Federal Reserve Chairman Jerome Powell, on the other hand, had to assume the role of the adult in the room. With exquisite tact, he acknowledged that, when applied to inflation, the term “transitory” obviously means different things to different people.
To Powell and most economists, the current inflation is not transitory, ie short-term. The significant rise in prices is here to stay and it threatens to do serious damage to the country’s economy. Powell acknowledged the current inflation is not temporary, and the danger is that it will spread “much more broadly” across the economy.
As gas prices dropped slightly, Democrats hyped that Americans could look forward to saving a buck on a fill-up. That single dollar they save won’t even buy a cheap item at the Dollar Store, which has raised its base price for shoppers to $1.25.
Also, one CNN talking head’s laughable assertion was that the media has treated President Biden “worse” than they ever did President Trump. Actually, when gas prices started edging downward, CNN’s liberal spin crowd hailed it as a Biden triumph.
In the meantime, President Biden in his cluelessly glib way asserted that it was a good thing for Americans to pay their fair share of gas prices—that he pushed up through his ruinous energy policies.
See Mark Dice’s take on inflation on this YouTube video.
It a sad sad place we are all in right now. Joe has lost his mine..the dems are all about me me me . Four years of this o my GOD please send Help ..
WHAT HAS AMERICA VOTED FOR…DESTRUCTION OF OUR NATION?
Jerome Powell: It all depends on what the meaning of IS is…….
Where did gas prices drop? Here where I live it has stayed the same or keeps going up ever since Obama/Biden took office and signed his 57 Ex- Orders. Biden was known to have said that only a Dictator rules by Ex- Orders ( when referring to Trump ) But he has already surpassed Trumps one year record and has gone on to show just who is the Dictator ( Which anyone with half a lick or sense ) knows that the Country has been taken over by the George Soros Nazi group ” Open Society ” with Barrack Obama pulling Bidens strings and telling what to do and say. We are on the verge of becoming a part of Hitlers plan of The “One World Government “