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Venezuela's socialist dictator Nicolás Maduro attempted to issue a message in English to U.S. President Joe Biden on Monday to discuss the upcoming expiration of Biden's generous oil and gas sanctions relief package to his regime.
The post Venezuela’s Maduro Sends Devastating Message to Biden in English: ‘I You Want I Want I You to Want I Do Want’ appeared first on Breitbart.
Former President Donald Trump on Tuesday after day two of his hush-money trial visited the Harlem bodega where store clerk Jose Alba, 61, defended himself after being attacked by a violent customer in July 2022.
The post Trump Greeted with Cheers at Harlem Bodega Where Clerk Defended Himself Against Violent Customer appeared first on Breitbart.
The ruling socialist regime in Venezuela documented an 18-percent increase in oil output in the first trimester of 2024 when compared to the same period in 2023, according to information published by the Organization of the Petroleum Exporting Countries (OPEC) in its latest April 2024 report.
The post Venezuela Oil Production Grew 18% After Biden Sanctions Relief appeared first on Breitbart.
Biden talks up the economy’s strong growth but doesn’t address the fact that the inflation rate he’s given us surpasses the GDP growth rate. He also doesn’t mention that much of this growth was funded directly by government stimulus and other financial aid given to the public.
The White House claims the economy is roaring, and mainstream media suggests only Republicans doubt it. However, consumer sentiment is declining, albeit with a slight recent uptick, which both the White House and mainstream media quickly seized upon as a positive trend. Inflation also rose this month, but the White House contends it’s down compared to 2022 levels. It appears the White House chooses to cite macro or micro data depending on what makes them look better.
The average gas price increased by 7% this month compared to last month. However, it remains lower than the $4.90 it hit in 2022. So, I suppose the White House can chalk up another win.
The reality is, both the average American and business owner perceive the economy as dismal and lack confidence in the future. Despite high inflation, the specter of recession still looms large, suggesting stagflation may become a reality in the near future. We could easily find ourselves grappling with growing unemployment alongside escalating prices. Technically, we’ve been in a recession for some time now, but Janet Yellen’s assertion that a recession isn’t defined by two consecutive quarters of negative growth was surprising to me and most university economics professors, as it contradicts the textbook definition of a recession.
Regarding stagflation, it’s defined by rising prices and growing unemployment. In the strictest sense, the White House is correct that we haven’t reached that point yet. More jobs are being created each month. However, if you’re looking for a job, the difficulty in finding one is obvious. This is largely due to the fact that 70% of the new jobs being created are part-time, while about 20% are government jobs. Depending on one’s definition of “jobs,” an argument could be made that significant numbers of new full-time private sector jobs are not being created.
The truth is, the economy has been on shaky ground throughout Biden’s entire administration. The only thing preventing a complete collapse is government stimulus and government job expansion, both of which add to the deficit and debt, merely postponing the inevitable. And that inevitable end is fast approaching.
Several US municipalities have implemented excessively high minimum wages, reaching up to $20 an hour. As a result, retailers, fast food chains, and ride-hailing apps like Lyft and Uber are exiting these markets. Grocery stores are transitioning to self-checkout systems, while fast-food establishments are introducing order kiosks. Moreover, many CVS and Walgreens drugstores have significantly reduced their floor staff, in some instances to just one employee.
Under Bidenomics, we’ve witnessed a 46% increase in gas prices, with mortgage rates inching closer to 7%. Meanwhile, the demand for new mortgages is dwindling.
Real wages, adjusted for inflation, have dropped by an average of $371. The White House’s deception on this matter lies in presenting a chart of inflation that peaked in June 2022 and has since been declining, while wages have been on the rise. At first glance, it may seem that the worst of inflation is behind us and wages now surpass inflation. However, it’s crucial to remember that prices have not decreased.
The rate at which wages are increasing, at 5%, now exceeds the rate of price increases, at 3.2%. However, over the past four years, we’ve seen cumulative inflation of nearly 20%. So, whereas you once earned a dollar, you now earn $1.05, while goods that previously cost $1.00 now cost $1.20. As a result, your real wages, adjusted for inflation, have decreased.
In short, the money you earn buys you less stuff.
Due to a decline in inflation-adjusted income, US savings rates have dropped to 3.6% from the pre-pandemic level of 6%. Credit card delinquencies and car loan defaults have reached record highs. Many Americans report borrowing money each month just to cover their cost of living.
Bidenomics is a disaster, and the White House is still considering cutting interest rates, which would cause inflation to skyrocket.
The post Credit Card Defaults, Inflation, Part-Time Jobs: The Economy Is a Disaster appeared first on The Gateway Pundit.
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President Joe Biden delivers a speech on the U.S. economy and “Bidenomics”, Thursday, September 14, 2023, at Prince George’s Community College in Largo, Maryland. (Official White House Photo by Adam Schultz)
The nationwide average price for regular gas hit a reported six-month high of $3.60 a gallon on Tuesday, spiking more than 50 percent under President Joe Biden.
The post Gas Prices Hit Six-Month High, Spiking More than 50% Under Joe Biden appeared first on Breitbart.
Shots were fired during a deposition in Las Vegas at a Summerlin law office Monday morning and two people were killed, according to KTNV.
The post Report: Two Dead After Suspect Opens Fire During Deposition in Las Vegas Law Office appeared first on Breitbart.
The Biden White House looked at Biden’s gas prices and canceled a scheduled refill of our Strategic Petroleum Reserve.
The post Nolte: Biden’s High Gas Prices Force Him to Cancel Strategic Petroleum Reserve Refill appeared first on Breitbart.
The nationwide average price for regular gas topped $3.54 a gallon, a spike of more than 45 percent under President Joe Biden, AAA reported Wednesday.
The post Nationwide Gas Prices Top $3.50, Spiking More than 45% Under Joe Biden appeared first on Breitbart.
Argentine President Javier Milei asserted in an interview on Sunday that he "would not have any problem" imposing diplomatic sanctions against Venezuela's socialist regime, suggesting he would be willing to convince other countries to support similar measures.
The post Argentina’s Milei Suggests Rallying Latin America to Sanction Venezuela After Biden Failure appeared first on Breitbart.
Oppenheimer, the Oscar-winning drama about the father of the atomic bomb, finally screened in Japan with trigger warnings.
The post Japan Finally Screens ‘Oppenheimer’ with Trigger Warnings Posted Outside Theaters appeared first on Breitbart.
General Land Office Commissioner Dawn Buckingham says the Biden administration's policy of blocking new exports of liquid natural gas is stealing money from Texas schoolchildren and hindering U.S. energy independence.
The post Texas Land Commissioner: Biden’s Energy Export Ban Stealing Money from Texas Schoolchildren appeared first on Breitbart.
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