WHAT'S UP WITH JOE BIDEN? - BIDENOMICS - Cost of Gas, Used Cars Up 45%, Car Rentals 88% - JOE'S EITHER SPENDING TOO MUCH TIME HOLDING AMERICA'S BORDERS OPEN OR TOO MUCH TIME SUCKING OFF BRIBES WITH HUNTER BIDEN

 

#Bidenflation: Cost of Gas, Used Cars Up 45%, Car Rentals 88%

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DR. SUSAN BERRY

16 Jul 2021963

2:26

Nearly all Americans expect the inflation under Joe Biden’s presidency will worsen still, even as the cost of gas and used cars is already up by 45 percent, and bacon up by 8.4 percent, the Washington Examiner reported Thursday.

“The hashtag #Bidenflation has been trending recently,” wrote Washington Secrets columnist Paul Bedard, noting a new survey from Skynova, an online invoicing firm that found 88 percent of people in the United States believe the current inflation is “here to stay and will soar more.”

“Projections shared with Secrets from the Statista Research Department show it increasing at about 2.5% through 2024 and ‘tapering off’ by 2026,” he observed. “It’s currently at about 5.4%.”

According to the Skynova survey of 1,040 respondents, 78 percent reported signs of inflation in their daily lives and 61 percent said inflation is an important political issue.

Results of the survey are consistent with Tuesday’s report from the Department of Labor that shows the cost for goods and services rose by significantly more than expected in June.

Breitbart News reported:

The Producer Price Index rose 7.3 percent in June from 12 months earlier, the largest demand since 12-month data were first introduced in 2010. Compared with May, the index rose one percent. On average, this index rose by around 0.2 percent per month in the pre-pandemic Trump administration.

Economists had been expecting an increase of 0.6 percent, below the 0.8 percent initially reported for May. On a 12-month basis, the consensus forecast was for 6.8 percent.

Additionally, the sharp increase in prices since Biden became president has not been accompanied by wage gains, as data from the Department of Labor revealed Friday.

Bedard observed the Skynova survey and similar ones show voters are deeply concerned about the higher costs of items they need and use in their daily lives.

The survey results are revealed “as Biden and House and Senate Democrats are looking to spend $6 trillion more on everything from healthcare benefits to immigration and infrastructure,” he wrote.

No Silver Lining: Wages Fell While Inflation Soared This Spring

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JOHN CARNEY

16 Jul 2021110

1:23

A rapid rise in prices over the past year has not been matched by wage gains, indicating American workers are losing ground, data from the Department of Labor showed Friday.

Median weekly earnings of the nation’s 113.6 million full-time wage and salary workers were $990 in the second quarter of 2021 , the U.S. Bureau of Labor Statistics reported today. This was 1.2 percent lower than a year earlier.

That compares with a gain of 4.8 percent in the Consumer Price Index over the same period.

That means inflation-adjusted wages are down six percent. Or, to flip it around, wage-adjusted prices are up six percent.

Either way you look at it, it is bad news for American workers.

Adding to the furstration of workers and employers, on average enhanced unemployment benefits pays around $620, which means many unemployed are receiving nearly 2/3 of the median weekly wage for people working full time.

In fact, unemployment pays significantly more than the median wage of $596 per week for women aged 16 to 24 and close to the $643 paid to their male peers. No wonder employers say it is hard to find new workers.