7:22:22
“You can add Argentina to the lengthening list of countries suffering from massive protests over economic dislocations — economic dislocations sprouting from bad governance. Inflation in Argentina is at an astounding 64%.
Have you ever seen anything like this? In country after country, monstrous protests involving regular blue-collar folks like farmers and truckers are breaking out all over the world — all at the same time. You could write a thousand articles about the phenomenon. Where are the media reports of all these immense protests around the world? What about the trends? What about what it all says about government? Where are all the breathless interviews asking the protestors to explain how they feel and what they want?
People aren’t happy. It’s like peace is being taken from the Earth or something. And the media is utterly useless, just garbage.
📉 For some reason, even though barrel prices are up, the price of gas at the pump here in the U.S. is down -$0.50 cents from the peak, about a -10% drop. At a recent press conference with Biden’s economy czar, Jared Bernstein, reporters seemed somewhat skeptical the trend would continue. They pressed Bernstein about when he said last year that “inflation will be transitory,” and asked why they should believe him now.
Bernstein responded arguing that — and I am not making this up — the economy is actually booming. “If you look at the strength of the current economy, if you look at the strength of the labor market, if you look at the strength of consumer spending, you would conclude that where we are right now remains solidly within expansion,” the delusional bureaucrat claimed.
Bernstein’s two examples don’t prove his point. When you flood the money supply, consumer spending will appear robust, especially when measured in tinydollars. Those dollars have to go somewhere. And since wages are “sticky” — always slow to adjust to inflation — employees are cheaper than they used to be, so employment isn’t showing the pain, not yet. It’s basic economics.
Plus, gas remains over $2 higher than when Biden moved into the White House. Just saying.”
