Inflation now at 7% , empty store shelves is just the beginning.

Jay Weber Show Transcript 1-12-21

How bad is it getting for the Biden White House and the democrats?

So bad that-even some of their left-wing accomplices in the media are refusing to stand with then and continue to parrot out obvious lies.

This could really get interesting, if we are on the cusp of a more pronounced and sustained break between the socialist progressive activists running these newsrooms...and the Biden regime.

Yesterday, CNN, MSNBC, the NY Times, and the leftist news organizations reported on how Biden and Schumer have ‘lost’ the support of the activist left on voting rights.

None of them supported Biden on his fake. Scripted ‘civil rights’ tour yesterday, and instead focused on the false promises Biden, Pelosi, and Schumer had made to the left-wing activists.

Later in the day- the Washington Post editors called out ‘team Biden’ for lying about inflation.

Biden’s people have been blaming corporate greed. And evil meat packers who are hogging profits...etc.

A gallon of gasoline was down around two dollars a gallon under Trump. The oil companies didn’t suddenly just ‘turn greedy’ when Biden got into office.

Biden’s anti-fossil fuel moves- raised gas prices.

These same egg farmers and ranchers who were selling their products for half of the current price in the trump economy-didn’t just suddenly ‘turn greedy’ once Biden got into office.

It’s an idiotic argument that only naïve people would buy. And squats with unions thinks so little of you, the average American, that she thinks you will buy the lie.

And Biden’s team apparently likes the lie enough that they have recently adopted it, to try to excuse away Biden’s failures.

Biden’s excuse-making took another blow yesterday, as the fed chairman called inflation a quote...severe threat...to the labor market and destroyed the White House’s claims on an improving supply line.

Grocery and drug stories are just cleaned out. The shelves are genuinely empty. Empty of all fresh foods. Meat. Vegetables. Bakery.

And those shortages and bare shelves are being seen in larger cities and suburbs around the country. We even have some bare shelves here in this area. A number of listeners posted pictures on Greg's Facebook page yesterday.

And it could weeks before this gets better.

Fed Chair Jerome Powell said, in short- Biden’s inflation is a severe threat to the job market now, and no, this supply chain problem -is not- improving.

He didn’t directly challenge Biden’s white house. It’s not his job to be political.

But it’s his job to be ‘honest’, and the simple truth dictates that Powell ‘come clean’ on this inflation. It is here. It is lasting. It is far more severe than the left predicted. It is-not-temporary. And it’s going to start screwing up the wider economy even more than it has in 2022.

Folks, if inflation remains high-that translates into higher mortgage rates, yes, and that could slow a housing market and put some downward pressure on housing prices.

On the other hand- with high inflation-the prices of assets tend to rise-and a house is most people’s biggest asset and home prices have been moving up throughout this entire pandemic...so it’s hard to know exactly where the housing market will go...as interest rates inch higher.

One thing that might help is that we won’t see a wild swing-in mortgage rates of the sort that would have us paying six, or 8, or a carter-era level- 14 percent- to borrow money to buy a house.

We hope.

But yes- the cost of buying a house is going to go up in 2022...because the cost of borrowing the money to buy it...is going up.

Employers need to pay higher wages and better benefits to lure in their needed workers-and that leads to-guess what? Price hikes. More inflation.

This is the cycle we are in danger of slipping into, thanks to Biden’s policies and his refusal to take the covid pandemic seriously-and come up with any real-forward looking- plans to combat it.

And you might have seen this yesterday for the American people-it’s no longer covid that they are worried about-It is this economy and Biden’s price hikes

photo credit: Gregory Jon's Facebook page