The Bureau of Labor and Statistics (BLS) releases the inflation numbers for July [LINK HERE] showing massive U.S. inflation continues to crush the working class. Massive increases in domestic food staples (+10%), energy (+23%) and regular unleaded gasoline (+43%) are hitting the middle-class exceptionally hard [See Table 2].
No middle-class Americans are having their wages increase even close to the scale of price increases for basic purchases. This outcome results in massive drops in “real wages” (wages minus inflation), and eliminates disposable income entirely. These outcomes are not due to COVID-19 or any recovery therein. These outcomes are a direct result of Joe Biden economic and monetary policy. {Go Deep – and – Go Deep}
The White House responds to inflation by saying the Biden administration is attempting to directly subsidize the middle-class inflation they are creating by giving Americans money to pay for higher prices through COVID bailouts. Yes, the administration admits they are exploding the dependency state, WATCH:
The White House solution is to create dependency on the government for income. This is exactly intended as government subsidies are used to keep the pitchforks at bay and simultaneously keep people dependent on government to sustain themselves [expand the political base].
Also, please understand when they say “inflation is transitional” or “inflation will spike and then come down to normal levels” what they are saying is that prices will massively increase right now, and then normal or slow price increases will return next year. This does not mean prices will come down, ever; a key distinction.
Inflation is the comparative measure of price increases now compared to a prior time (last year), usually expressed as a percentage. Ex. A lemon cost $0.49 cents last year (2020), and jumps to $0.89 cents this year (2021). The lemon may only jump to $0.99 in 2022 (.10 more) and that is significantly lower inflation, but the price spike is perpetually built in. The same is true for gasoline, electricity, energy, etc.
Reuters reveals first that Dominion has sued Newsmax, OAN and Patrick Byrne for defamation seeking $1.6 billion in damages from each entity. It does not seem coincidental these lawsuits are filed on the same day that Mike Lindell hosts a cyber symposium to present evidence of coordinated electronic voting system tabulation manipulation.
The governors office says “suspending the reading, writing and math proficiency requirements … will benefit “Oregon’s Black, Latino, Latina, Latinx, Indigenous, Asian, Pacific Islander, Tribal, and students of color.”