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The setting in DC yesterday was almost surreal.
August’s inflation numbers were posted, and they were far worse than expected.
Yet, there was Joe Biden, telling the country that his economic plan was working and we should be excited that prices have flattened out, only they haven’t.
Additionally, the market crashed by more than 1,200 points by day’s end, wiping out any recovery that had been made over the last few weeks.
Bad Days Ahead
Joe Biden loves to cherry-pick numbers for his reports, but he lives in fantasyland.
The prices that matter have all gone up.
For instance, the CPI food index rose 11.4 percent over the year, the biggest increase since 1979.
Inflation ticked down by 0.2 percent, but it is still 8.5 percent higher than August last year.
Core prices have risen by 6.3 percent, up from 5.9 percent in July.
Rents are still out of control, new cars are more expensive, and medical care costs continue to soar out of control.
Yet, there was Joe Biden, partying on the White House lawn with James Taylor, singing songs, and telling everyone he is kicking ass.
What he needs is a good kick in the ass to bring him back to reality.
