Everyone knows that the Biden admin has been a total failure. But the reason why will surprise you.
And Joe Biden was completely paralyzed by what Fox News just revealed.
President Joe Biden believes the US economy is doing well, yet the reverse is true.
Inflation is cripplingly high after years of reckless spending by Democrats and the rest of the ruling class elites, not to add interest rate hikes by the Federal Reserve.
To make matters worse, Federal Reserve Secretary Jerome Powell just announced that the Fed’s unelected officials will raise interest rates more in the near future.
Analysts fear that additional interest rate hikes will wreak havoc on the already devastated economy.
Appearing on Fox News, the 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 ranted.
Harsh warnings from economic experts, such as Larry McDonald, do not appear to ring true with President Joe Biden and his government, which is hellbent on imposing their agenda on the country regardless of the repercussions.
If the Federal Reserve continues to raise borrowing rates, as it has openly stated, working-class People will continue to bear the brunt of the Biden economy’s misery.
Inflation is already at an all-time high, and any further increases would completely crush a substantial number of working-class Americans, who are already pushed thin by the higher cost of living under President Biden.
In actuality, the fact that the economy has not yet bottomed out is a genuine miracle, but at current rate, it will not be long before it does.
The Biden government has made it their aim from the start to destroy what was left of the prospering economy that previous President Donald Trump’s initiatives had created prior to COVID.
Rather than doing what is best for Americans, Biden and his associates are more concerned with politics.
President Biden’s #1 aim is to reject his predecessor’s ideas, even if it means making life more difficult for working-class People.
Under Trump’s leadership, inflation was near zero, unemployment was low, and the stock market appeared to be breaking records on a regular basis.
Under Biden’s leadership, inflation has reached 40-year highs, many People are refusing to return to work, and prices for practically every item and service have skyrocketed.
The worst is yet to come, and Americans should brace themselves for a severe economic downturn in the near future.
The American people have to vote Joe Biden and the Democrats out of the White House in 2024 or there will be even worse consequences for the economy.
Stay tuned to the DC Daily Journal.