Jay Weber Show transcript 8-8-23
Folks- the national average for gasoline is now 3.89 a gallon.
That’s the national average. I was driving past 3.55 a gallon around here, yesterday.
This represents another spike in gas prices -and another added cost to just about every product, delivery, and commute...
And for the most part?
Eh.
Why even talk about it?
When a democrat is in the White House and is causing gas and energy prices to spike-harming everyone-but most especially those on the lower rungs-
Eh. We don’t talk about it.
Well....we are going to get a new inflation report tomorrow....and there’s a good chance that the new, higher gas prices are going to be reflected in that report-
We could see inflation ‘on the rise’ again, after months of Biden and the democrats trying to do victory laps over how the nine percent inflation that they touched off is now only rising at four percent.
The prediction is-with grocery and gas prices up again- this number could be closer to five percent inflation for July.
It was crazy oil prices that helped touch off that 9.1 percent inflation in the summer and fall of last year...and here we are again...with the costs creeping up again.
Saudi Arabia and Russia recently cut production in order to curb supply and boost prices, again, and a recovering u-s economy has also boosted demand, again
But over the last three months -gas prices are up 20 percent, diesel prices are up 36 percent, and jet fuel prices are up 40 percent.
And every cost of every grocery and good that needs to be produced using fossil fuels-or that needs to get to market- is being affected.
So expect the narrative on this ‘slowing inflation’ to reverse itself, again, this week.
Now the fed looks at ‘core inflation’ when they decide whether to keep raising interest rates-and food and energy prices aren’t factored into that ‘core inflation’ formula-
Still- experts and investors say the fed chairmen aren’t living in a vacuum- and realize that food and fuel prices are leading indicators of core inflation- even if they don’t figure into the main metric, they use to evaluate the economy.
The fed and its so-called experts can try to spin these new, higher energy prices any way they want to-but they represent another round of expenses and price hikes on all Americans-
With most of the pain being felt by Americans on the lower rungs-and living paycheck to paycheck.
Gee? Why aren’t Americans buying the bologna that Bidenomics is working?
Because they see it’s not. They are experiencing the failures and the falsehoods of Joe Biden’s economic message every time they fuel up or go to the grocery store- or cash their paycheck.
And this surge in gas prices-along with the cuts by Russia and Saudi Arabia-has revived talk of a hundred-dollar-per-barrel prices later this year...
And if that’s the case- it’s going to mean more heartburn for the Biden White House ..and is going to make their on-going attempt to convince Americans that they’re doing great under Biden-seem even more ridiculous.
Biden’s spent weeks insisting that he can make people believe that this economy is doing great-and that they are doing well-despite what they think they are experiencing....
Well-sustained four-dollar-a-gallon gas prices all thru the fall and winter would put a significant crimp in that effort to gaslight the country over the next year...
In short-Biden and his people want to proclaim Joe Biden an economic genius and insist that the American people simply aren’t seeing his incredible economic confidence.
This reminds me of the Obama era- when Barrack Obama would apologize to the American people for being ahead of them. Being smarter than them. Not explaining things to us as he went along or stopping to let us catch up, intellectually.
Obama’s brilliance was always outshining the rest of us-and that’s why everyone thought he was a craptacular president and strangling our economy for 8 years...
Now we’ve got the Biden-era version of the same thing. They are going to spend the next year trying to insist that we-the people-just don’t understand what sort of ‘genius level’ economic plain that Joe Biden and his advisors are working on-
And that we’re too dumb to correctly analyses our own paychecks and personal finances.
No, no. You’re doing great-you stooge. You just don’t get it. Joe Biden has created a far superior economy to that one that was setting every 50 year record imaginable under Donald Trump-
This is a much better economy than the one in which you got multiple raises and saved more and saw your overall standard of living increase-whether you were a single mom, a high school dropout, or a college professor-
That trump economy in which everyone was winning, and the markets were roaring was awful.It was all ‘false highs’ and you were an idiot to think you were doing better.
No, no. This no growth, high-cost economy is a better one. Joe’s a genius who grew it from the bottom up and the top down-
Whatever that blather means....
No. Joe’s is better.
Folks- Biden, his team, and his party members only have a year to get you to believe this insanity
It is crystal clear-who touched off the inflation.
We conservatives and republicans simply need to keep reminding people of it. Voters have short attention spans-but it was only a few years ago that they lived thru it-and so ‘recall’ is easy: remember when Biden and the dems were warned by every single economist-not? - to touch off runaway inflation and they did, anyway?
Yeah. Who’s to blame? Biden and the Dems. No question. Don’t let them weasel out of it or blame someone else. They caused this. Biden and the dems were warned against it-and intentionally plowed ahead and caused you and your family all of this new economic pain.
They-intentionally- made moves that caused prices to rise sixteen percent- caused gas and energy prices to spike by 30 and 40 percent. Caused your retirement savings to be slashed by one-quarter- caused your paychecks to shrink. Caused you to stop being able to save money.
And while the monthly and yearly price increases have slowed-they are still rising. Inflation is still rising...month to month....and year over year.
Overall-real wages are now down a full five percent since joe Biden took office and the dems decided to bleep you up.
Most voters today-are making less money than when Biden took office...and this clown and his party are going to spend the next year trying to convince you otherwise.
And this isn’t even talking about the generationally high interest rates that Biden and the dems have now slapped onto the American public-and today’s struggling young people. This is another completely avoidable catastrophe.
The amount of debt that Americans are carrying has shot up twenty percent over the last year...and very quickly-
Less than two years from the covid era when people were paying off their debts and adding to their savings in record amounts-
Less than two years later- Americans have racked up a new record amount of debt- seventeen trillion dollars-
And that includes floating a trillion dollars in credit card debt, alone. That’s insane.
In Joe Biden’s America- get this: more than a third of all American adults have more credit card debt than they have in emergency savings.
This is an economic condition that experts say we haven’t seen since the great depression:so many people are living off credit now-that they have more credit card debt- than they have in their savings accounts.
And of course, young adults are being hit the hardest.
And so-with voters experiencing rising debts and falling wages- it’s not a surprise that 70 percent of voters aren’t buying the notion that joe Biden is an economic genius.
He’s driven the price of gas up to four dollars a gallon. He’s driven the cost of a new car up to 60-grand because it’s a plug in. He’s added 7 trillion dollars to the national debt in just two years.
What a nightmare.
Of. No...Jay. You don’t understand. Biden’s an economic genius.
Behind the façade of that squinty eyed bumbler...is the Stephen Hawking ofeconomic theory. He might be drooling out his name...but there’s an inferno of genius raging in there.
I think there’s more ‘Bidenomics’ in his pants than in his head.
photo credit: Getty Images