Tue Sep 7, 2021 AT 10:23 AM EDT
As cant and emotionalism subside, it is becoming possible to give a clear and fair assessment of the performance of the Biden administration and of the president himself: a total failure.
The shortfall of 500,000 in the expected net new job figures for August shows that stagflation is upon us: Employers are afraid to hire employees as they normally would coming out of the COVID-19 recession because they don’t know if they will be able to afford them. Hourly pay scales are increasing at 7.5%, new car prices at 10%, rental accommodation at 12%, and new homes at 20%, all well ahead of the official rate of inflation, contrary to the smug assurances of Treasury Secretary Janet Yellen and even some Federal Reserve spokespeople, that inflation was a mere bubble. Read Full Story