BIDEN’S “ACCOMPLISHMENTS” —FIRST TO SINGLEHANDEDLY CAUSE INFLATION SPIRAL

PRESIDENT JOE’S “ACCOMPLISHMENTS”.  

The oldest President to ever serve in the White House.

The only President to facilitate foreign spying by allowing a Chinese spy balloon to penetrate our borders and wander across the entire nation taking pictures and listening to secret government conversations. 

But perhaps the above was to be expected, since he was also the first President to preside over and persist in maintenance of an open southern border with Mexico, through which millions of illegals have passed.  So why not open skies?

And most egregiously he was the FIRST EVER TO SINGLEHANDEDLY CAUSE AN ECONOMIC DISASTER —-raising inflation since elected by almost 14%— HIS OWN INFLATIONARY SPIRAL!! 

Bidenflation of 2021-2023

Since 1929 every inflationary spiral was caused by the scarcity, or the high price of petroleum products.  These hurtful economic hardships of the past were all caused by external events, mostly beyond the control of the government.   That is until President Biden purposely and intentionally put executive orders into effect which caused shortages of fuel oil, gasoline and natural gas which sparked an inflationary spiral

Inflation was always a terrible threat to economic security. Over the last near century, inflation was largely under control —except for times of energy scarcity. 

1929–In cheap energy and boom times of 1929 inflation was recorded at only 0.6%

1930–During the 1930s inflation remained low during the Great Depression

1940–Then in 1941-1942 inflation hit a peak of 9-10%, during the war years when fuel was rationed, when large portions of oil production were consumed by the war effort. Other factors, i.e.  shortages of consumer goods, etc. exacerbated these fuel shortage effects.

1950–Inflation returned again during the Korean War (1950-1951 at 6%) for reasons similar to those of 1941. 

1970–Then again in 1970, inflation spiked to 6% due to the Vietnam War ( high oil prices).The  massive deficit spending of the  Johnson “Great Society” also contributed. 

1973–By 1973-4 the Arab Oil Embargo drove inflation to 12%. The oil embargo was instituted by oil-producing Arab states as  retaliation for US support and resupply of the Israeli forces during the Yom Kippur War.   Arab members of the Organization of Petroleum Exporting  Countries (OPEC) cut sales to the US and several of its allies. This was a time when the US was importing 82% of its oil from the Middle East.  With the majority of ME oil unavailable,  prices flared to nearly 400% of what they were before the embargo. The “oil shock” caused long lines to at gas stations,  gasoline was rationed, lights were turned off at Times Square, big gas guzzler American cars remained unsold, and inflation and unemployment spiraled out of control. 

1978–But the highest inflation ever ( almost 15% ) occurred between 1978-1979 as a result of the Iranian Revolution. In 1978 the US puppet government of Shah Pahlavi was overturned by the Iranian Revolution.  Iranian oil production declined by 5 million barrels per day, or 7% of world production at that time. At a time of high worl wide demand for oil the 7% cut in production was enough to spark an inflationary spiral that was not tamed until 1982.  To control inflation the US Fed had to raise the lending rate to an unprecedented 19%.  Inflation was beat down to about 4% but the resulting economic decline caused the Great Recession of the early 1980s. 

1980–After the mid/1980s inflation caused by oil shortages remained  under control for the next 41 years. 

2021–That is until Biden was elected.  In 2021 President Joe Biden, apparently unconcerned and  blithely unaware of a near century of economic history, imposed a series of executive orders curtailing the fossil fuel industry and caused oil shortages.  Inflation immediately spiked to about 8%. The next year, 2022 to 9% (about what it was during WWII) and falling to 6.5% in early 2023 , equal to the level experienced during Vietnam War).  But those are year over year changes. His actual impact on inflation should be measured from when he was elected to the present.     Since Biden was elected to the present time —-inflation has increased almost 13.7%.  

For the first time in history, a president singlehandedly manufactured his own inflationary spiral by unwise executive orders which in effect cut  the supply of oil and other fossil fuels in an insane attempt to satisfy the climate zealots, and extremists in the socialist left wing of his party.  To fight climate change we need, more than ever, a stable, low cost energy source…

Then not to simply happy to confine high fuel prices to the USA, Biden’s extremist handlers decided to cut the delivery of cheap, clean, natural gas to Europe too!  Recent investigations indicate the Biden Administration was behind the blowing up of the Nordstream I and II  Pipelines  insuring that Europe will have high fuel prices, and high  inflation too.