He's called an economist, but has no economic credentials. Bernstein took his college degrees in music and social work.
Neil Cavuto savages Bernstein here.
Separately, this short Q&A with Bernstein about printing money and lending it is just epic.
Core CPI inflation averaged 1.96% under Trump.
Majorities now approve of Donald Trump’s mass deportation plans—including 42 percent of Democrats—as well as a border wall. And while violent crime has fallen dramatically since the Trump presidency, voters see more disorder. Drugstores didn’t clear their shelves and lock up merchandise because of widespread looting until Biden was in charge. Videos of open-air drug markets and mayhem on subways don’t just make people scared, they make them angry.
There has been record inflation too, and high prices contribute to a pervasive sense of anxiety in the electorate. But Biden would be far better off politically if high prices were the sole challenge he had with voters. Disorder is a drain on the American psyche. And it’s threatening Biden’s re-election, as it leaves voters receptive to the kind of harsh law-and-order appeal Trump prefers. ... look at the polls ... There is bipartisan fury over protests and immigration. Trump is running to restore order, and voters have given him a lead.
The column is devastating for Biden.
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| Pelosi spent 210% of revenues in 2009 |
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| Pelosi spent 196% of revenues in 2010 |
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| Pelosi spent 216% of revenues in 2020 |
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| Pelosi spent 176% of revenues in 2021 |
Biden's 13th-Quarter Approval Average Lowest Historically
Averages 38.7% job approval
WASHINGTON, D.C. -- President Joe Biden averaged 38.7% job approval during his recently completed 13th quarter in office, which began on Jan. 20 and ended April 19. None of the other nine presidents elected to their first term since Dwight Eisenhower had a lower 13th-quarter average than Biden. ... From a broader historical perspective, Biden’s most recent quarterly average ranks 277th out of 314 presidential quarters in Gallup records dating to 1945. That puts it in the bottom 12% of all presidential quarters.
Biden's 1Q2024 average is 2.86% year over year, making thirteen quarters averaging 4.20% average yoy inflation vs. Trump's 1.6%, 163% worse.
Trump never had a single quarter higher than 1.97% yoy.
Way to go, Brandon!
March yoy came in at 4.8%. Ouch.
We're on the glide path of permanent 3.8% year over year core inflation.
The core pce inflation rate currently is still 75% worse than Trump's 1.6%.
The three year Biden average is 4.31%, which is 169% worse than under Trump.
Real Clear Politics currently shows an average of 64.6% saying the country is on the wrong track.
Doubleplusnotgood.
Year over year in February core cpi inflation is still elevated at 3.8%.
The near term trend has definitely turned higher again.
Year over year we're still at 2.8%, still well above 2.0.
The monthly pop of .4% is high relative to anything in the last year.
The .5 change in the index was . . . pretty dang big.
The drive by media always spins this as "expected" when consensus estimates are confirmed, but that doesn't make them good.
"The general population will not be duped by this aversion [sic; read diversion] to try and
blame inflation on corporate America. It starts at the raw materials,
it starts at transportation, it starts at energy," former Home Depot and
Chrysler CEO Bob Nardelli said on "Cavuto: Coast to Coast" Monday. "A whole host of things that are driving this up, wage increases." ...
"This is all about, I think, trying to buy votes. This is all about an administration that is out of control," he continued. "We have a strong bias towards spending versus having a conservative policy or a sustainable future."
More.
But you said inflation was coming down!
Core inflation has a long way to go before it's like it was in the Trump era.
Meanwhile the little people continue to pay, and pay, and pay.
The women shop. The women remember.
The massive poll results for seven swing states is available here.
The women think Trump is the one to fix it, by 11 points.
Jerome Powell is the biggest phony inflation fighter the country has ever seen.
He was appointed by Trump! So much winning!
Core pce inflation previously exceeded the ten year yield in 1974-75 and in 2012 (barely).
The Fed's primary inflation-fighting tool has been the Federal Funds Rate, but it let inflation run wildly out of control before even lifting a finger to stop it in March 2022 when the Fed finally acted and started raising the rate.
It is a shameful episode which has benefited businesses which hiked prices higher than inflation to goose profits, and the federal government which desperately needed to devalue its mounting debts, all at the expense of the average American.
The lack of outrage over this is a study in the depth of American servitude. Slavery didn't end in 1865 for African Americans. It became the common lot of us all.
Jay Powell is much worse than Burns.
Jay is the money men's best friend ever.
