It’s superb that Biden is rising within the polls, just because he received a number of inflation-generating, crony pay-off payments handed by means of a Democrat-controlled Congress. Much more superb is that People aren’t extra livid with Biden provided that inflation continues to be raging at 8.5% YoY and the US Private Financial savings Charge to deal with raging costs is at -51.5% YoY.
It appears like one fast repair to the inflation downside is for The Federal Reserve to shrink its steadiness sheet. However they’re taking their very own candy time doing it.
After which we have now the S&P 500 index which has carried out poorly since Powell and The Fed have undertaken their “combat inflation” mantra attributable to their very own folly and Biden’s inexperienced, anti-fossil gasoline insurance policies. To not point out Congress spending like drunken sailors in port.
However the identical is happening in Europe the place inflation is even larger than within the USA and the EUR/USD is plunging like a paralyzed falcon.
After which we have now Biden shrinking the Strategic Petroleum Reserve (orange line).
And in Europe, we have now Germany struggling by means of a horrible vitality worth spike.
Lastly, here’s a baseball card of former Dodger pitcher Billy Loes. He nearly jogs my memory of Biden attempting to assume by means of a posh downside like scholar mortgage debt forgiveness which will price taxpayers a mean of $2,000 but purchase votes for Democrats on the midyear elections.
