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Why does U.S. economic news contradict itself?
Thursday, 21 July 2022 11:33
By KRISTEN BURNS-WARREN
Special to the Daily Planet

News on the economy contradicts itself, with some news reporting we are in a recession, and with others stating we aren’t. 

We have news downplaying the inflation rate that hasn’t been this high in 40 years. 

We have the climate issue — as usual pages stacked tall into an encyclopedic wish list in spending plans amid the dismal economy that our own president we all know has gone afar to bring up prospects from more fuel-suppliers and proposes off shore drilling off the coast of Mexico and also in Alaska’s north slope. 

Our president’s contradiction was recently recalled in The Intercept as follows:

“NO MORE DRILLING on federal lands,” said former vice president, Delaware senator and presidential candidate Joe Biden in March 2020. 

Debating his then-competitor Bernie Sanders on CNN, Biden urged,“No more drilling, including offshore, no ability for the oil industry to continue to drill, period.”

 I suppose we are supposed to forget, yet again, a flipflop — and one on the environment?

As long as Joe Biden can pacify his Green activists, convincing them that, somehow, as long as the drilling isn’t in our backyards, we are fine to okay it and to import it. 

His agenda is one that he actually proposed off the Gulf of Mexico and Alaska — they can drill disrupting their eco systems and we will gladly do our part on the receiving end, which currently is touted a successful plan on spiking gas prices bandaids by using what the previous president, Barack Obama, called gas prices’ spiking “gimmicks” in gas rebates.

This all comes after our president condemned the big oil companies here, saying they are “making more money than GOD,” which came with replies contrary from the top executives of these suddenly proclaimed villains to Americans pointed out how they have pushed harder than ever to meet the supply demands and had to borrow money to achieve that demand along with their long lists of new eco practices used to pollute less, but our president is consistent in blaming others (never himself) for the results or continued begging again from OPEC under his charge. 

The U.S. saw the largest increase in consumer prices in more than 40 years last month, data showed Wednesday (July 13). 

Biden and his top economic advisers fanned out to say that the “unacceptably high” 9.1 percent annual inflation rate was “out of date” because it did not reflect the easing of gas prices since mid-June.

On the alternate counterpoints, Loretta Mester, the president of  the Federal Reserve Bank of Cleveland, said she had “not seen any convincing evidence that inflation has turned the corner.” 

Fed Board member Christopher Waller was quoted for calling the consumer-price index report a “major league disappointment.”

So where are we in the economy, which is rated a top priority in all the current election polls? 

According to CNBC: “The Consumer Price Index, an inflation barometer, jumped 9.1 percent in June, versus a year earlier, the highest annual increase since November 1981.

“Sen. Joe Manchin, a centrist Democrat from West Virginia, said Wednesday (July 15) that inflation “poses a clear and present danger to our economy.” Manchin, however, has agreed to pharmaceutical aid, as the not-so-affordable care act will soon change, causing millions of people to become severely angrier at our current administration when they can no longer afford their prescriptions. 

Our president doesn’t see our economy that way — or at least refuses to admit our economy is where it is. 

Biden was quoted as saying, “Our experts believe, and the data shows, that most of the price increases we’ve seen are expected to be temporary.”

However, roughly a year after Yellen, news reports on July 15 noted, “Biden and Federal Reserve Chairman Jerome Powell all downplayed the 5.4 percent inflation in the United States, inflation surged to 9.1 percent which has not been seen in four decades.

“It marks the fastest pace of inflation since December 1981. 

Meanwhile we have two Bidens, our president (Joe) and First Lady (Jill) giving speeches to the public that “we must bear witness to honor the Holocaust” and Latino communities’ strength — compared by Jill Biden — to “breakfast tacos, bodegas and blossoms.” 

This isn’t even a week after we hear from our president — “end of quote ... repeat the line.” 

Before that, we had our president’s cue cards turned backwards so the press could read and take pictures of the instructions to walk into room, sit down, talk for two minutes like a kindergarten child instructed in a classroom. 

We have all probably heard about Joe Biden saying, “We will support Russian oligarchs.” 

You can’t keep track of how many times the White House scrambles to report in the aftermath of presidential gaffes — resorting to complete disinformation — by responding, “What the president meant!” 

A recent Newsweek article describes the team as “Biden’s mop up crew” in a July 26 story headlined “Joe Biden’s Gaffes Are Causing the White House a Communications Headache.”

Articles multiply — not just discussing our presidents mental acuity, but his age. 

His polls are at the all-time lowest in support — and age and mental fitness does come up. 

We all have seen our president stumble on the stairs, fall of his bike, call our VP — four times —  the president of our nation. And we know Biden has had two brain aneurysms. Then we watch when he gets angry at reporters and snaps back — if not cusses some of them out. 

So with Biden, it’s “kleptocracy” and onward into an archive of horrific speech lies. To just his staff,  he still cannot recall even their names, nor can he pronounce them. 

The news reporters and fact-checkers try diligently to downplay our president’s mishaps, flipflops, stalling, gaffes and utter mistruths that do not lessen in time. 

Indeed, the issues increase for Biden, who the world watches... and sees every mistake which are vieweed as signs of presidential  leadership weaknesses, not presidential leadership strengths. 
Kristen Burns-Warren lives in the Cecil community of Haywood County.

 



 


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