Biden Sideswiped By The Worst News Of His Failed Presidency

Before last Friday’s Consumer Price Index release for the month of November — in which the inflation that Americans faced rose to a 12 month high that has not been seen since the year of 1982 — the Producer Price Index busted right through its all-time record high when it came in higher than it was expected to.

“The Producer Price Index for last demand went up by 0.8 percent in the month of November,” as the Bureau of Labor Statistics says, and “the final demand index increased by 9.6 percent for the 12 months that ended in November, the biggest advance since the 12-month data records were first added up in November 2010.”

It looks like Biden and his administration are completely set on attempting to beat Jimmy Carter’s record for pain on the economy.

As Liz Young —the woman who leads the strategy for investment at SoFi —described in context, November’s numbers not only beat a 9.2 precent expected estimate coming in at 9.6 percent, but also there was a significant increase in November’s PPI from where it began this year when PPI was below 2 percent year-over-year.

The PPI data from November yet again debunks the claims from President Biden and the White House that say inflation is somehow not going to last or is improving because of an action by President Biden. Instead, it implies that President Biden’s policies for the economy continue to cause destruction on the American economy at many different levels.

“With energy, food, and trade services excluded, prices have went up by 0.7 precent for this month, this puts core PPI at 6.9 precent which is the highest gain that has been recorded,” explained by a CNBC’s report on the data. “Respective gains were estimated to be 0.4% and 7.2%, this means that the gain for the month was faster than what was estimated however the year-over-year measure was a little bit slower.”

Due to the PPI measuring inflation upstream from consumers, the most recent numbers suggest that the CPI will most likely continue to go upward for the month of December.

Author: Steven Sinclaire