Biden calls inflation the ‘No. 1 problem facing families today’

ABC News financial contributor Alexis Christoforous breaks down the latest inflation report as President Biden calls inflation his “top domestic priority.”

#ABCNews #Biden #Inflation #Economy

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20 thoughts on “Biden calls inflation the ‘No. 1 problem facing families today’

  1. The ruble has become the best among the world's largest currencies in strengthening against the dollar, Bloomberg calculated. Now it costs 11% more than at the beginning of the year.

    In early March, Joe Biden promised to destroy the Russian economy and boasted about the depreciation of the ruble, but now the ruble is worth more than on the day the troops entered Ukraine, and the economic situation in the United States continues to deteriorate. Before the start of the special military operation, 1 dollar cost 81.04 rubles, now 1 dollar costs 63.3 rubles. During this time, the ruble has appreciated by 22%.

    The GDP of the United States in the first quarter of this year collapsed by 1.4%, while inflation reached a record 8.5%. Such high inflation was in the US for the last time back in 1981. The US trade deficit in March amounted to $109.8 billion against 89.8 billion a month ago. The pace of deficit expansion is unprecedented.

    In Russia, economic growth in the first quarter of this year amounted to 3.7%. RF budget revenue increased by a third (30.4%), which led to a budget surplus of 2,417 billion rubles, which is 3.6 times higher than last year's surplus. And that's just for the quarter.

    In short, Biden brought down the wrong economy.

    The Fed, the Bank of England and Switzerland created and financed Hitler and the Third Reich to kill the USSR. And at the Nuremberg trials, the ex-president of the Reichsbank and the Minister of Economics of Nazi Germany, Hjalmar Schacht, suggested that, for the sake of justice, those who nurtured the Third Reich should be put on trial, while mentioning the American corporations General Motors and Ford, as well as the personal manager of the Bank of England Norman Montague. More details about this are written in the book by Professor of Political Economy at the University of Washington Preparat Guido Giacomo "Hitler, inc. How Britain and the United States created the Third Reich."

    The Anglo-Saxons became the root cause and organizers of the bloodiest war in history. Is history repeating itself now? The Anglo-Saxons nurtured and finance neo-Nazi organizations in Ukraine that kill civilians in Ukraine. Only two countries voted against the UN resolution against the glorification of Nazism: the United States and Ukraine.

    For example, the American site Antiwar in its article "Partnering With Neo-Nazis in Ukraine: An Inconvenient History" wrote that the United States is cooperating with Ukrainian neo-Nazis in the war against Russia. The history of this cooperation goes back many years.

    Member of the House of Representatives from Georgia Marjorie Taylor Green said that since the Obama days, Democrats have been funding Ukrainian neo-Nazis.

    Although the United States is the largest economy in the world, it still does not have free medicine and higher education. More than 20% of American adults have difficulty writing, and some can't even read a newspaper, ABC reported. It would be possible to send money from the budget to solve these issues, but Baden preferred to send them to finance neo-Nazis.

    Over the moment, an oligarchy has developed in the United States, which is one of the forms of autocracy. Scholars Martin Gilens of Princeton and Benjamin Page of Northwestern University conducted a study that showed that the policies of the United States government are in the interests of the rich and their influence groups, and not the wishes of the majority. The scientists note that “the main conclusion that follows from our study is that economic elites and organized groups representing the interests of business have the ability to significantly influence the policies pursued by the US government, while groups formed to protect the interests of the masses, and ordinary citizens have little to no influence.

    The real income of the average American has not risen for several decades, despite the fact that GDP per capita has been growing during this time. The oligarchs benefited from this growth, while the Americans got nothing. In 2011, according to PolitiFact and others, the top 400 richest Americans "have more wealth than half of all Americans combined."

  2. A wage spiral? lol How about raising working class wages without raising prices and taking a little less profit, or paying the upper echelan a little less. The point of getting a raise should be to make life more affordable, not so that employers has more leverage to raise prices/profits

  3. Thank you Biden for creating INFLATION & Record High Gas Prices that will help Republicans take back the House & Senate with the highest majority in decades in order to bring Inflation under control & Lower Gas Prices "Quickly" & end the Invasion of Ukraine

  4. MAJOR SHORTAGE:
    1.) 1 Bedroom 1 Bath Apartments under $450/Month for poor Americans ( once this runs out, the poor leave the big cities )
    2.) Livable wages of $30/Hour and up to self actualize and live in dignity!
    3.) High Quality Self Actualization Careers For The Poor

  5. Inflation is killing my budget and my salary. I can't invest and it seems like I will need to sell a part of my stock portfolio to keep my head above the water this year <<stocks and crypto >>

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