Posted on by Californiacontrarian

Many, Many, Many


I am going to come out and say what every rational person living in the U.S. realizes … namely, Joe Biden’s inflation is hurting many, many, many (how many times should I repeat “many?”) Americans. Anybody who is non-partisan realizes that this is the case. However, more importantly who is being hurt the most? … As I have pointed out many, many, many, etcetera times before – as is typical for a lot of Democratic policies, those who are the lower end of the socio-economic ladder are being hurt the most. Bidenflation is no different!

Furthermore, everyone appreciates that the rise in gas prices is at the center of our inflation crisis.(If you think that Putin is the culprit, I have a bridge to sell you!) In addition, JB, or whomever is telling JB what to say and what to do, could start this inflation spiral to reverse direction by immediately reversing all of the absurd anti-fossil fuel policies that JB “proudly” put forth on his first day in office.

Be that as it may … JB’s handlers will not allow that to happen! Nonetheless, how many Americans are hurting? I know the answer is “many, many, many,” but how many?

From the Daily Wire:

“Bidenflation is hitting Americans across the board, according to a new study. On Monday, 8/1/22, CNBC reported that recent data from LendingClub indicates that in June 2022, 61% of all Americans are living paycheck-to-paycheck — including 36% of those earning more than $200,000. That figure is up from 55% from the year before for all Americans.

‘What a difference a year makes. Last summer we were all worried about how quickly the economy would recover,’ Anuj Nayar, LendingClub’s Financial Health Officer, said in a press release issued Monday. “Now, as inflation continues its upwards swing, consumers are finding it more difficult to manage spending and are eating into their savings as financial pressures mount. 

“As pointed out by CNBC, while paychecks might have risen 5.1%, skyrocketing inflation has outpaced average salary increases. In June, American inflation rose 9.1%, negating most economic gains.”

To help address the problem, Senate Democrats recently passed the “Inflation Reduction Act of 2022.” However, a Penn Wharton study shows that the bill could lead to a slight increase in inflation over the next two years, doing the exact opposite of what its name suggests.

So let me get this straight … Bidenflation is hurting many, many, many Americans, primarily due to JB’s anti-fossil fuel policies … and it is getting worse. However, inexplicably the Dems are pushing the “Inflation Reduction Act of 2022” which is going to increase inflation in the near term … and consequently things will likely get worse for many, many, many Americans!

8/9/22

californiacontrarian

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