The Perverse Economic Priorities of the Ruling Class

Contact Your Elected Officials
America First with Steve Cortes

The past week powerfully demonstrated the perverse priorities of the ruling class. The dreadful economic numbers shocked economists and Wall Street, causing convulsions in capital markets. Biden’s accelerating inflation surge bedevils the American economy and saps the confidence of stressed, stretched citizens. The overall growth rate of America turned negative in the first quarter of 2022, with an embarrassing -1.4% decline in overall GDP.

But the Washington War Machine nevertheless presses on with a mammoth $33 billion aid package for Ukraine, mostly military equipment simply handed over to the Kiev government. This Biden initiative intensifies the reckless Foggy Bottom/Brussels sprint toward escalation in a conflict that involves no discernable vital US national security interest.

The contrast is stark. Suffering American citizens will fund the folly of the globalist interventionists in pursuit of another Iraq, a new Afghanistan. Biden and Establishment Republicans clearly prioritize defense conglomerates over working citizens. It’s the agenda of Davos over Dayton, Ohio.

How bad is the economic situation in places like Dayton, Ohio? This chart series provides the evidence and data for the miserable economy that Biden created in just over a year in office:

CHART 1 – Inflation

The newest Inflation gauge to hit 40-year highs is the PCE, the Personal Consumption Expenditure index. The Federal Reserve’s economic staff prefers this barometer of prices as the standard for overall inflationary pressures in our country. This chart shows 50 years of history for the Core PCE, placing the current Biden-Pelosi-McConnell inflation spike in historical context. After decades of contained and predictable American inflation, we now see a Third World-style spike in prices that sends Real Wages crashing, crushing the spirits of consumers.

Personal Consumption Expenditures Excluding Food and Energy

By Steve Cortes

Read Full Article on SteveCortes.Substack.com

Substack
Substackhttps://substack.com/
Substack believes that great writers, bloggers, thinkers, and creatives of every background should be able generate income from their audiences on their own terms.

Tylenol’s Headache

When President Trump, RFK Jr., and Dr. Mehmet Oz called for pregnant women to avoid using acetaminophen, Tylenol got the headache.

American Restaurants Are Going Broke

U.S. restaurant bankruptcies surged to 22% in 2020 amid COVID-19 and stayed elevated at 14% last year due to Biden’s “Build Back Better” policy.

A Few Fun Alternatives to the”Gory Stuff” at Halloween

Halloween has gone off the rails with gore through the decades.  But there are ways to enjoy the "scary stuff" without giving into darker, pagan alliances.  

Germany Stands To Lose & Poland To Gain From The EU’s Latest Energy Move

The US is geostrategically re-engineering Europe at Germany’s expense in order to facilitate Russia’s post-Ukraine containment.

EBT Serfs Threaten Violent Mass-Shoplifting Spree if Food Stamps Cut

The EBT serfs of the underclass may be in for a rough ride come November, when mommy government is slated to wean them off the teat of state.

White House Releases Donor List for $300 Million Ballroom Project

The Trump admin has released a list of the private donors contributing funds to the new ballroom being constructed on the White House grounds.

Alleged Chinese Fentanyl Kingpin Recaptured in Cuba Following Mexico Escape

A Chinese fugitive wanted on suspicion of trafficking huge quantities of fentanyl and cocaine into the United States has been recaptured in Cuba.

Walmart Brings Back Thanksgiving Basket, Turkey at Lowest Price Since 2019

Walmart brings back its popular Thanksgiving Basket meal, offering turkey and fixings to feed 10 people for under $4 each.

Prominent Personalities Sign Letter Seeking Ban on ‘Development of Superintelligence’

Hundreds of people, from conservative commentators to tech executives, have signed a letter seeking a ban on “the development of superintelligence.”

Trump Pardons Convicted Binance Founder Changpeng Zhao, White House Confirms

Trump pardoned Binance founder Changpeng Zhao, convicted of money laundering two years ago while leading the global cryptocurrency exchange.

Trump Calls off Meeting With Putin, White House Says

White House says Secretary Rubio and Russia’s Lavrov had a productive call; no further meetings or Trump-Putin talks are planned soon.

President Signs Rare Earth Agreement With Australia’s PM

President Trump hosted Australian PM Albanese at the White House, where both leaders signed a new agreement on rare earth mineral cooperation.

Trump Says Insurrection Act Is ‘Strongest Power a President Has’

President Trump detailed plans to invoke the Insurrection Act to address rampant crime, calling it the “strongest power a president has.”
spot_img

Related Articles

Popular Categories

MAGA Business Central