President Biden Sent Spinning by 2 Depressing Reports
President Joe Biden made a solemn promise to build back better. In whatever sense that has. In a tweet from more recent times, he said that he was “creating a better America.” Uh-huh. What exactly does Joe Biden mean whenever he makes statements like these? We are in a lot worse position as a nation than we were only a few short years ago.
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The majority of people think we are heading in the wrong direction. And now, Biden’s biggest failure is growing worse. The rate of inflation is through the roof, reaching levels not seen since 1982. Because of this, the Federal Reserve is being forced to take extreme action. The current market conditions make it impossible for anyone to purchase a home. Wow. It is clear that Build Back Better refers to destroying the economy to the point where only the richest people can afford anything.
Inflation has gotten out of control as a direct result of Biden’s willful mismanagement of the economy. Since 1982, nearly four decades ago, the current rate of inflation is the highest it has ever been. The Federal Reserve is being forced to tighten control over interest rates as a result of the rapidly rising inflation. This action is being taken to curb loan activity in an effort to bring inflation under control.
However, in the long run, it will be detrimental to the economy. When interest rates are high, firms typically reduce the number of loans they take out. This means that they will have less cash available for expansion, the improvement of goods and services, as well as the hiring of workers.
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In addition to this, prospective customers of homes are out of luck. The current interest rate is at a 20-year high, which will make it difficult for many purchasers to purchase their first house. Because so many other businesses are typically impacted by home purchases, this is only going to make the economy worse. Despite this, Biden continues to assert that Trump is the “most successful” president in recent memory. Is the dude completely off his rocker?