President Biden has been on thin ice with the American people this year. He could be forced out by his own party.
That’s why Joe Biden doesn’t want you to see his results in this report.
Everyone has been feeling the impact of rampant inflation over the past year and a half.
Ever since Biden took office, everything from gas prices to housing has been skyrocketing in average pricing.
2022 has been particularly brutal for the pocketbooks of millions of Americans, as reports have shown savings accounts reaching lows not seen since 2008 after being adjusted for inflation since that time.
With major holidays coming right around the corner like Thanksgiving and Christmas, Americans are worried about being able to provide for their families.
And apparently, those worries are not unfounded.
According to a report from Wells Fargo, the price for a turkey is 23% higher in 2022 compared to 2021.
Furthermore, eggs are up 32.5%, butter is up 25.8%, and flour is up 17.1%.
Even fruits and vegetables are up 7.3% this year compared to last.
All this comes from a Wells Fargo report authored by Courtney Buerger, Brad Rubin, and Michael Swanson which evaluated how much a family could expect to spend on major Thanksgiving items compared to last year.
You can read the whole report here: https://global.wf.com/hub_blog/year-dine-thanksgiving/
As the report indicates, some of this can be chalked up to anomalies like bird flu that are driving up prices by skewing the supply and demand equilibriums.
But that wouldn’t be telling the whole story as those alone usually don’t impact prices as much as they have been lately.
The Biden administration and the federal reserve have been on a spending spree in a foolish effort to “combat” inflation.
Joe Biden signed a $740 billion “Inflation Reduction” act that will almost certainly just make inflation worse, not better, in the long run.
How? The answer is really quite simple.
If everything is affordable because the federal reserve prints money out of thin air, consumption will continue to skyrocket artificially as it has for the past two years.
If consumption continues to skyrocket, the natural reaction from market prices is to inflate in reaction to supply and demand equilibriums shifting.
Meaning the simple truth is that the federal reserve and the Biden administration spending like there’s no tomorrow is the main driver of inflation.
It’s almost like increasing money supply will force the market prices to react accordingly.
Who would have thought?
Stay tuned to Prudent Politics for updates.