Joe Biden has tried to take credit for the nation’s economy. Not sure why he’s bragging so much. Inflation is still at record highs. The supply chain and high gas prices are making everyday life unaffordable for many Americans. And just recently, we watched in fear as several major banks collapsed.
Still, Biden wants us to ignore all that messy, inconvenient facts and just focus on his successes. Um… where are those successes? The man is so bad at his job, we could be looking at WWIII. But as old Joe takes his victory laps, a top economist warns… the bank crisis is not over. And it’s mostly Joe’s fault.
During an interview with CBS News on Tuesday, Moody’s Analytics Chief Economist Mark Zandi stated that the problems in the banking industry are the inevitable result of rate hikes by the Federal Reserve where “things are going to start to wobble and break and it’s going to feel uncomfortable.” And because inflation is “still high” “the next 12-18 months are going to be uncomfortable.”
Ah! What did Joe once say? The “economy is strong as hell”? I guess he doesn’t bother spending much time talking to economists. Because Moody’s Analytics Chief Economist Mark Zandi is warning that the next year or so is going to be “uncomfortable” for banking.
And why did he say this? Because the Federal Reserve is not done jacking up interest rates. And why are they going to raise these rates some more? Because inflation is not going away. Joe Biden ensured our economy would crumble when he flooded it with trillions of new dollars.
Not only that, but he made the problem much worse when he shut down American oil, neglected the supply chain, forced rail workers to sign a bad union deal, and threw billions to nations overseas.
We wouldn’t even be talking about inflation, had Biden just done nothing. Instead, the man seems to go out of his way to make this much worse. He is ignoring all the problems his administration created. Then, he prances around in front of Democrats pretending like he’s the bee’s knees.
But we all can see that the emperor has no clothes. Joe Biden tanked American excellence and is trying to put the final nail in the coffin. More banks might fold. Interest rates are going to crush Americans struggling with debt. And that will only cascade into hurting the jobs market and other sectors of our economy.
But, hey, at least Ukraine has lots of bombs, right?
- A top economist warns the next year will be hard for the banking industry.
- Zandi blamed rising interest rates that are battling Joe’s inflation.
- Biden has contributed to numerous economic problems, since entering office.