The biggest threat facing our nation today is our failing economy.
After years of artificial props holding it up, the economy is showing signs of a total collapse.
But Biden and his administration are in complete denial about the failing economy.
Whether it is rising fuel prices, broken supply chains, negative GDP growth, record inflation, a plummeting stock market or labor shortages, this economy is doomed to fail.
It is a miracle it has not already in all honesty.
This is partly due to Trump and his administration’s mostly great economic policies but also due to lots of reckless spending to keep it afloat.
But several tremors in the economy lately are signaling doom.
First and foremost, the bond market is inverting its yields, which is typically a sign of recession.
And then of course there was negative GDP growth in the first quarter, which means that if this current quarter sees negative growth we are officially in a recession.
And then of course there is inflation like we have not seen in decades.
When Trump left office, inflation growth was a little less than 2% and now it is around 9%.
Unfortunately, the current White House is in complete denial about this impending economic collapse.
According to White House economist Jared Bernstein, the nation is “well positioned to avoid a recession” – but then he immediately backpedaled by saying “you can never rule anything out.”
Not only is that contradictory phrase from the White House not very reassuring, it shows that Biden and his staff have no clue about what is coming.
Although that is very unsettling, it is not surprising.
In fact, ever since he took the oath of office, Joe Biden has seemed completely lost.
He simply reads whatever his far-left handlers put in front of him.
This sort of absent mindedness is setting our nation on a crash course for disaster.
US Political Daily will keep you up-to-date on any developments to this ongoing story.
