Doc7505
Diamond Member
- Feb 16, 2016
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Bidenflation higher than ever, clocking in at 17.3% -TIPP
Bidenflation higher than ever, clocking in at 17.3% -TIPP
To listen to the left, Bidenflation is a thing of the past, based on the Federal Reserve's hikes in interest rates. They say it's conquered. They trot out their numbers. They have the receipts. Paul Krugman is the chief cheerleader, but...
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TIPP came up with an index demonstrating just that ... and it paints a very different picture
The dark reality of Bidenomics is 17.3% inflation under the President’s watch. When he took office, inflation was at just 1.4%. Inflation has stayed above the Federal Reserve's 2% target for 35 consecutive months since March 2021.
Average hourly earnings for all employees dropped 2.0% to $11.16 in January from $11.39 in January 2021 when Biden assumed office. Despite nominal salary increases at their fastest pace in years, 58% of Americans say they are now worse off than when the President took office.
In short, prices have increased by 17.3%, while real wages have declined by 2.0%, meaning Americans have taken a 2.0% pay cut under the current administration. To put it differently, people now need 19.3% more income than they had in January 2021 to maintain their living standards. According to some estimates, Americans need an extra $11,400 a year to make ends meet.
TIPP explains in detail how this works as layer upon layer of inflation build to these current numbers like a mushroom cloud.It dovetails well with other indicators that understand what voters are feeling and experiencing, such as Hanke's Misery Index, of all the things that consumers can see in their daily lives up front.
Commentary:
For all those that are espousing Bidenomics out there, thanks for your decision to support him. Many retirees have lost about 30 to 40% of their 401k and continue to see price increases on a daily basis. That's not counting utilities and gas. If the Bideniphiles don't see anything wrong, they had better enjoy their position now, before an illegal migrant takes your job (or your primary supporter's).
