Just last December, Jim Cramer of CNN said that we had the strongest economy he had ever seen. This was just after the White House asked their loyal minions to give them favorable coverage. Cramer should be fired immediately. That is because either he lied to his viewers or he is the dumbest SOB on finance in the country. Either way, you should not feel comfortable taking his advice.
May’s inflation numbers are out and even though they were expected to be very bad at 8.3%, they were actually much worse at 8.6%. That is the worst in 41 years. But, I have confidence that Biden can do better and top the record set in 1929. Let’s Go, Brandon. Food and home prices have risen over 10%. Home sales hit new lows with offers to purchase homes dropping by an incredible 40%. The only going down today is real income.
It has gotten so bad that Cramer had to grudgingly admit that things were much better under Trump.
CNBC’s Cramer said:
“Look, they hate fossil fuels. And a lot of the numbers — I think Brian’s [Deese] really good, but a lot of numbers he talked about are not true. I mean, we’re not producing as much as we did under President Trump.”
“The idea that it’s European — that it’s the Europeans that are causing the natural gas to go up a lot isn’t true. We just were unprepared for this particular moment and don’t have enough pipelines. But look, they hate fossil fuels.”
Cramer went on to say that Biden would rather beg the Saudis for oil than allow drilling in Texas. He asked:
“So the Saudis are better friends to the US than western Texas?”
The problems created by Biden’s puppet masters are only going to get worse, especially with the long and extremely hot summer much of the country is supposed to have. The prices for electricity, which have already doubled in parts of Texas, will climb even higher and you can expect brownouts and blackouts as the summer progresses.
Look on the bright side. You may not be able to pay your rent, cool your home, fill your belly, or drive to work, but your kids will get all of the drag shows they could ever want.