Build Back Better? Gas Lines Have Started In The East Coast But Just Wait, Report Details It’s About To Get Worse
It’s amazing how quickly things can unravel and the Biden Administration is very closely headed into sink or swim territory. The guy literally flushed Trump policies keeping the US afloat during the pandemic down the toilet and now things are about to get a whole lot worse.
We have gas lines in the east coast and even the mainstream media is warning, inflation is coming and it’s going to be bad.
“Perceptions about households’ current financial situations compared to a year ago improved in April, with fewer respondents reporting to be worse off now,” The New York Fed report said.
“Expectations about households’ financial situations in the year ahead were largely stable.”
Overall the expectation is that inflation will be up to 3.4% one year from now and then an additional 3.1% three years from now. Meaning, during Biden’s time in office (unless Kamala takes over) inflation will skyrocket 6.5%, that is nuts!
Not good if you are trying to run for reelection; can anyone say Carter 2.0?
Biden’s recovery plan is falling apart after only being in office a little over four months.
The Administration claims that the inflation is just “transitory” however, the market begs to differ.
From Zero Hedge:
Bloomberg’s Vince Cignarella explains, “Inflation swaps are used by financial professionals to mitigate/hedge the risk of inflation and are considered reasonably accurate estimates for the break-even rate for the period in question. They’re also helpful to central banks and dealers who are trying to determine the market’s future inflation expectations.”
In short, the market is looking at all the signals and is growing convinced that whatever “this” is, it is not transitory.
And it’s not just finance pros who are calling the Fed’s bluff: according to the New York Fed’s survey of consumer expectations, median 1-year and 3-year inflation expectations by ordinary Americans jumped to a multi-year high of 3.4% and 3.1% respectively, the highest since September 2013.
I’ve said it before and I’ll say it again, there once was a man that traveled the country warning us about this. A lot of people would’t listen, they sent him away, and then banned him.