Want more inflation?

Here's how we get more inflation, according to TIPP, which found that Bidenflation went up yet again, dating from the day Joe Biden took office.

The dark reality of Bidenomics is 19.2% inflation under the President’s watch, which is 5.9% annually. When he took office, inflation was at just 1.4%. Since March 2021, it has stayed above the Federal Reserve's 2% target (38 consecutive months.).

Under Biden, the federal debt has increased by $6.9 trillion. The Federal Reserve printed money out of nothing to finance his spending spree. The increased money supply without a corresponding increase in goods and services reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.

Prices have increased by 19.2%, while real wages have declined by 2.6%. Average hourly earnings for all employees dropped 2.6% to $11.09 in April 2024 from $11.39 in January 2021 when Biden took office.

Biden has tried to gaslight the public with raw lies, claiming that inflation was 9% when he took office. The easily debunked reality is that it was 1.4% according to official data.

The gaslighting continued with his vice president, Kamala Harris, who claimed that Biden's out-of-control federal deficit spending was bringing inflation down.

"We're dropping trillions of dollars on the streets of America right now," making everyone wonder who got 'em. I wrote about that idiocy here.

Not to be outdone, Biden declared that he had done such a good job that Americans "have the money to spend" on inflated prices of goods. I wrote about that here.

Now the ugly hard numbers are in, done with the most reliable calculator, which is the TIPP CPI on inflation.

TIPP continues:

According to Mark Zandi, the chief economist at Moody's Analytics, the typical U.S. household now requires $1,069 more each month (equivalent to $12,828 annually) compared to three years ago, $784 more per month compared to two years ago, and an additional $227 per month compared to last year.

As a result, credit card debt and delinquencies are surging amid high interest rates. According to TransUnion data published on Thursday, the average credit card debt of an American borrower ballooned to $6,218 in Q1 2024, an 8.5% rise from the previous year. This collectively increased total debt to $1.02 trillion as the credit card delinquency rate, defined as 90 or more days late, climbed to 8.9%, the highest since 2012. The average credit card APR hit a record 20.72%.

It's still happening, and it's happening for a reason: Joe Biden can't stop spending. If voters elect this guy one more time, who knows what the inflation rate is going to become. All we can see for now is that Biden has no idea where inflation comes from and no idea how to stop it and no intention of changing course. That spells more inflation and America is going to get it, good and hard.

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