Biden Tells Everyone The Quiet Part Out Loud

( Joe Biden visited a computer chip company in Freeland, Michigan, to promote his economic agenda.

According to a report, Biden talked about his American Rescue Plan and claimed credit for lower fuel costs. But inflation rates remain near historic highs, and fuel prices are $1.13 higher per gallon now than when Biden took office in January 2021.

On Tuesday, Biden warned a gathering full of union employees that returning inflation to normal levels will take time.  This comes after Biden argued for the previous year and a half that inflation was only temporary.

In July 2021, shortly after telling the public that inflation was just temporary, Biden declared that inflation had reached zero percent.

According to Investment Watch, the road ahead does not appear promising.

For much of 2022, there has been significant disagreement about whether the US economy is in a recession, is on the verge of a recession, or is going to turn positive. Unfortunately, nearly all of the figures indicate that economic conditions are rapidly deteriorating as we approach the beginning of 2023, and even fervently optimistic corporate titans such as Jeff Bezos advise us to brace for tougher times.

According to the report, while some anticipate a minor recession followed by a rebound, others anticipate significant pain in the years ahead. Several warning signals indicate that the entire system is beginning to fracture, but many “experts” remain hopeful that our leaders will find a way to turn things around.

Those same leaders put us into this mess in the first place.

The latest Chicago Purchasing Managers’ Index result was far below estimates, which is terrible news.

The Chicago Purchasing Managers’ Index (PMI) measures the economic health of the Chicago region’s manufacturing sector. A value above 50 implies expansion. A reading below 50 suggests a contraction. The Chicago PMI might provide insight into the ISM manufacturing PMI.

Economists expected the survey to come in around 47, but the final result showed 37.2,  plummeting to its lowest level since the peak of the COVID lockdowns in 2020. This was lower than the lowest estimate of the 25 economists polled.

In the survey’s entire existence, the Chicago PMI has only fallen below 40 when the US economy has been in a recession.

Thanks, Brandon!