“Bidenomics”. The new buzzword that Joe Biden and his team of strategists has come up with to see how gullible and/or partisan the electorate is.
Bidenomics is a not especially clever term that they have come up with to tout the great economic condition the United States is in – or, put another way, the economic condition they are trying to convince you is great.
Is it?
Well, one way of assessing our condition is looking at job growth.
And it sure would help if job growth were doing well, wouldn’t it?
So maybe that is why, as shown in data provided by the increasingly invaluable confoundedinterest.net website, Biden’s pals at the fed have overstated job growth every month of this year. No exceptions.
Here’s the chart. See for yourself how the initial report – the one that gets just about all the attention – turns out to be overstated, and quietly revised downward later on:
That is either a most remarkable coincidence or intentionally bogus data designed to fool the public, with the real numbers getting scant attention afterwards. Which do you think it is?
And then there are wages and inflation.
Bidenomics will proudly tell you that wages are up an average of 4.4% from last year. That’s great, right?
Uh, wrong. Just as bogus as the job numbers.
Why? Because what they are not telling you is that core inflation went up by 4.8% from last year. Therefore those “lucky” folks who are earning an additional 4.4% have less buying power than last year, not more.
But what about the Biden people’s claim that he lowered inflation? That it was as high as 9.1% last year and now it is at just 4.8%. That’s great news, isn’t it? Boy, Bidenomics is working beautifully, right?!!
Uh….wrong. More bogus Bidenomics.
See, the 9.1% inflation rate we hit last year was not what Biden inherited when he took office. It is what his decimation of our energy industry (among other blunders) caused. Therefore, his “lowering” of inflation is from the level where he himself sent it.
So what’s the true comparative? Where was inflation when Joe Biden took office?
In December, 2020, the last month before we had a President Biden, inflation was at 1.4%. That’s right, this is no typo. 1.4% is where it was.
Bottom line: Biden’s “lower” inflation, in reality, has gone from 1.4% to 4.8% – about 3 1/2 times as high as what Trump left us with. The only thing that makes it look “good” is that, before being 3 1/2 times as high as what Trump left us with, Biden put us at 9.1%: 6 1/2 times as high as what Trump left us with.
If, knowing this, you still think Joe Biden has lowered inflation, please signify by saying “I am an idiot who probably got an F in basic math when I was in fourth grade and haven’t improved in math since then”.
There you have it, folks. Bidenomics in action. A bogus spectacular.
Are you impressed?
