Inflation is not bad, but to listen to the media or to read the media inflation is a monster that cannot be tamed by the President’s mild manner.
Bull Shit, the media is responsible for the American public believing that the economy is terrible. Just recently I read an article where it made it seem that Biden is responsible for the high interest rates on credit cards. It is not Biden it is the greed from major companies, banks, and credit companies.
While the Fed’s interest rate is 5.33%, credit cards are now charging as high as 39% interest.
High Interest Rates Are Hitting Poorer Americans the Hardest
The economy as a whole has proved resilient amid the highest rates in decades. But beneath the surface, many low- and moderate-income families are struggling.
High interest rates haven’t crashed the financial system, set off a wave of bankruptcies or caused the recession that many economists feared.
But for millions of low- and moderate-income families, high rates are taking a toll.
More Americans are falling behind on payments on credit card and auto loans, even as many are taking on more debt than ever before. Monthly interest expenses have soared since the Federal Reserve began raising interest rates two years ago. For families already strained by high prices, dwindling savings and slowing wage growth, increased borrowing costs are pushing them closer to the financial edge.
“It’s crazy,” said Ora Dorsey, a 43-year-old Army veteran in Clarksville, Tenn. “It does make it hard to get out of debt. It seems like you’re only paying the interest.”
Blame the very rich people as they control those greedy companies that constantly take advantage of the working people of this country. Only one Party stands with the working people of America, and that is the Democratic Party. Blame the Trumps who paid no taxes, blame the Bezos who grin because they used loop holes to avoid paying 600,000,000 in taxes. They need that extra money to buy more 500 foot yachts or another multimillion dollar mansion.
Stand up and vote to get rid of those filthy, wealthy, motherless billionaires that are out to enslave Americans.
The data is on the president’s side. An analysis by the Economic Policy Institute found that 34% of price increases from mid-2020 through 2022 could be attributed to corporations using pandemic-related disruptions as an excuse to raise prices. A 2023 study of more than 1,300 firms worldwide found that company profits increased at a much faster rate than costs (with fossil fuel companies being prime offenders).
And there are plenty of existing efforts by members of Biden’s administration on which the president can draw. The Justice Department, for example, is currently investigating anti-competitive practices at LiveNation (the parent company of Ticketmaster), Apple and RealPage, whose pricing software helps landlords set rents or, according to the DOJ, collude with each other to raise rents.
GO GET THEM JOE!
Rich people hate Biden, which includes many of the owners of major media.
Almost 90 years ago, just before the 1936 election, Franklin Delano Roosevelt spoke to a packed house in New York’s Madison Square Garden about the accomplishments of his first term. Those four years had brought the country a revolution in both public works and regulation and brought Roosevelt the hatred of many business and finance leaders. “Never before have these forces been so united against one candidate as they stand today,” he told the audience. “They are unanimous in their hate for me — and I welcome their hatred.”