This week, America was once again saddled with the news inflation was not subsiding – a revelation that was made all the more alarming due to the fact that gas prices have been dropping, and that this was usually a key indicator of where the overall economy was headed.
The worrisome reality spooked the stock market on Tuesday, with the DOW Jones posting a 1,000 point loss during trading hours. Even Twitter, which is normally a bit cynical when it comes to Wall Street, saw “#StockMarketCrash” trending on Wednesday morning.
But for Sleepy Joe, this troubling turn of events was pretty meh.
“I think we’re going to be fine,” Biden told reporters Tuesday night when asked about the disappointing data release earlier in the day.
The president spoke briefly to reporters after traveling to Delaware from the White House to vote in his home state’s primary election.
And again:
When asked by a reporter whether he was worried about the latest inflation numbers, Biden replied, “No, I’m not.”
President Joe Biden speaks with Senator Joe Manchin (D-WV) on the South Lawn of the White House in Washington, DC, after a celebration of the Inflation Reduction Act on September 13th, 2022. (Nathan Posner/Anadolu Agency via Getty Images)
Biden dismissed the month-to-month overall inflation number as “one-tenth of 1 percent” from the previous month, even though grocery prices rose 0.7 percent in August, rent rose 0.7 percent, the cost of electricity rose 1.5 percent, and natural gas prices rose 3.5 percent. Inflation from the previous year is up 8.3 percent.
If this great nation can’t elect someone in 2024 that actually has some passion for the issues that face the general population, then we are going to be in some serious trouble.
