Biden's Inflation: NOT Caused by the Ukraine Crisis
The Biden inflation surge began and accelerated massively -- way before things got hot on the other side of the earth
Lost within a flurry of Ukraine coverage on Friday was more dreadful news on Inflation in the United States. The PCE Personal Consumption Expenditure index rose to the highest level in four decades, up 6.1%.
The economic numbers continue to massively disappoint and provide damning evidence of the Biden Inflation conflagration which currency engulfs American society, particularly punishing working-class citizens.
Of course, the corporate media runs interference for the Biden Regime, as is typical. On this key topic of inflation, the level of propaganda really distorts any semblance of truthful reporting. Consider, for example, this headline from CBS News.
In reality, inflation has been steadily building throughout Biden’s time in office – vaulting higher for over a year, as I will lay out in the data and charts below.
But first, a quick word on how Biden has so quickly ushered-in an era of runaway inflation in America, for the first time since the 1970s. First, he declared open war on domestic American energy, from pipelines to drilling, prioritizing a radical eco agenda over dependable and affordable American domestic energy. Then, he and Chuck and Nancy embarked on a truly exorbitant borrowing and spending spree that sent interest rates and prices for nearly every conceivable physical asset soaring. Finally, he issued draconian and unscientific workplace vaccine mandates – many of which still remain in place – that prevented full staffing in key industries like trucking and logistics for supply lines.
As a result, Americans understandably place inflation at the very top of the list of items of urgency and concern. Per this latest national poll from Quinnipiac, in fact, inflation is the number one worry of twice as many citizens as the next priority item, which is immigration.
So, this survey validates my long-standing focus on the “two I’s” for the upcoming November elections: Inflation and Immigration.
Now, let’s assess the actual data and evidence regarding the trend of inflation and debunk the media myth that this explosion in prices emanates from the Ukraine fighting.
Here is a chart of wheat. Both Ukraine and Russia are major wheat producers, so naturally the new war caused wheat prices to shoot higher above $9 per bushel, albeit briefly. But, as this chart clearly depicts, wheat has been absolutely soaring ever since Biden illegitimately prevailed in the November 2020 election.