Bidenflation Continues | Ep. 1493

Inflation Issues

Ben Shapiro examines the persistent inflation issues plaguing the U.S. economy, highlighting that despite a slight decrease, inflation remains alarmingly high at an 8.3% annual rate 1. He attributes this to poor monetary and fiscal policies rather than supply chain disruptions or international conflicts. Shapiro notes that while oil prices temporarily masked broader inflationary pressures, the core price index, excluding food and energy, rose significantly, indicating widespread inflation 1.

Inflation is no longer just contained to the supply chain. These pressures are actually becoming more broad-based.

--- Ben Shapiro

Additionally, he points out that real wages have been declining for months, with average weekly earnings down 3.4%, exacerbating the economic strain on Americans 2.

   

Market Impact

The economic turmoil extends to the markets, with Ben Shapiro discussing the impact of inflation on stock and cryptocurrency markets. He notes a significant decline in U.S. stock futures and a sharp drop in Bitcoin's value, attributing these trends to stronger-than-expected inflation figures 3. Shapiro suggests that while Bitcoin's current downturn is concerning, its long-term viability remains intact, advising holders to maintain their investments 3.

It's a very risky time in the markets and the markets continue to fall.

--- Ben Shapiro

He also highlights the potential for a recession if the Federal Reserve fails to implement more aggressive anti-inflation measures 4.

   

Wage Decline

Shapiro critiques the Biden administration's handling of wage trends amidst inflationary pressures. He argues that despite claims of economic recovery, real wages have decreased, undermining the administration's narrative of progress 5. Shapiro emphasizes that nominal wage gains are being eroded by inflation, leaving workers with less purchasing power than before 2.

When you hear Joe Biden talk about wage increases, understand that your wages actually mean a lot less than they did a year ago.

--- Ben Shapiro

He further criticizes the administration for failing to capitalize on an economy poised for growth, instead attributing economic woes to previous administrations 5.