Sky-high inflation and slow economic growth are just a couple of the symptoms of Joe Biden’s crippled economy.
Everything that his regime has done so far has damaged the economy that Donald Trump built.
But Joe Biden is paralyzed with fear after receiving this devastating economic news.
America is staring down the barrel of a crippling recession
President Joe Biden actually believes the American economy is in great shape, but the exact opposite is true.
After years of Democrats and the rest of the ruling class elites’ reckless spending, not to mention the Federal Reserves’ interest rate hikes, inflation is at a cripplingly high level.
To make matters worse, Federal Reserve Secretary Jerome Powell recently announced that the unelected bureaucrats at the Fed will further increase interest rates in the near future.
Experts are predicting that additional interest rate increases are bound to wreak havoc on the already crippled economy.
Last Wednesday on Fox News’ Mornings with Maria, Bear Traps Report founder Larry McDonald said, “Our 21 Lehman systemic risk indicators that look at equity and credit point to one of the highest probabilities of a crash in the stock market looking out 60 days.”
“Auto loans right now are approaching 14%, almost 20% of auto loans are one thousand a month, and so the middle-class families are getting hammered here,” he added. “Everybody’s expecting, [Wall] Street is expecting $226, that’s priced for perfection. So what happens is, when we deteriorate in jobs the next two, three months, that will bring into question the S&P earnings, and the S&P earnings are probably $190, so that’ll trigger it.”
Stark warnings from economic experts, like Larry McDonald, do not seem to resonate with President Joe Biden and his regime, who are hellbent on continuing to force their agenda on the nation, no matter the consequences.
If the Federal Reserve continues to increase interest rates, as they have openly said they will, then working class Americans will continue to feel the pain of the Biden economy.
Inflation is already sky high, and any further increases in inflation would absolutely devastate a large number of working class Americans, who’ve already been stretched thin enough as it is by the increased cost of living under President Biden.
In reality, it’s a bona fide miracle that the economy has not bottomed out yet, but it will not be long before this happens at this rate.
Joe Biden and his regime are determined to destroy the economy
From day one, the Biden regime has made it their mission to destroy what was left of the thriving economy former President Donald Trump’s policies had built prior to COVID.
Rather than doing what is best for Americans, Biden and his cronies are more interested in playing politics.
Rejecting his predecessor’s policies is President Biden’s top priority, even if that means making life worse for working class Americans.
Under Trump’s watch, inflation was next to nothing, unemployment was low, and the stock market seemingly broke records on a regular basis.
Under Biden’s watch, inflation has hit 40-year highs, many Americans are refusing to go back to work, and prices for nearly every good and service are through the roof.
The worst has yet to come, and Americans should prepare for a significant economic recession in the near future.
US Political Daily will keep you up-to-date on any developments to this ongoing story.