There is more bad news on the way for Joe Biden.
This is the type of calamity that ends careers.
And now Joe Biden got hit with the one warning that every president fears the most.
Every poll shows inflation and the economy are the top issue for voters.
And every poll shows Americans roundly disapprove of Joe Biden’s disastrous socialist economic policies.
A recent NBC News report revealed that Biden is furious the American people do not believe the administration spin that the country is in the middle of an economic boom.
“Biden has vented to aides about not getting credit from Americans or the news media for actions he believes have helped the country, particularly on the economy. Unemployment rates have dropped to below 4 percent — pre-pandemic levels — but polling indicates most Americans believe the economy is in bad shape,” NBC reported.
But there is a reason the public isn’t buying the hype.
And that is because they understand the reality of 40-year highs in inflation, gas prices continuing to set record prices, and the economy shrinking by 1.5 percent in the first three months of the year.
JPMorgan CEO Jamie Dimon appeared at a conference hosted by AllianceBernstein Holding.
At the event, Dimon warned of a “hurricane” about to hit the economy in the form of the recession.
“I said there were storm clouds. But I’m going to change it. It’s a hurricane,” Dimon told the attendees. “Right now it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle it. That hurricane is right out there down the road coming our way. We don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself.”
Dimon warned that the secretive Federal Reserve attempting to unwind trillions of dollars in so-called “stimulus” that the Fed injected into the economy during COVID would lead to interest rate hikes that could tank the economy.
“We’ve never had QT like this, so you’re looking at something you could be writing history books on for 50 years,” Dimon added.
The Fed is also hiking interest rates to try and bring inflation under control.
Even liberal economists warned Joe Biden that Biden’s $1.9 trillion socialist spending bill would spike inflation.
Biden ignored those words of caution and plowed ahead operating under the delusion – fed to him by a bunch of liberal activists pretending to be historians – that American people elected Biden to be the next FDR.
But Biden’s words about inflation being “transitory” blew up in the Democrats’ faces and even Wall Street titans like Jamie Dimon are predicting tough economic times ahead.
The Biden administration’s response?
Q: “When are you guys gonna admit that you were wrong about inflation?”
KARINE JEAN-PIERRE: *laughs* pic.twitter.com/GSkiH6Bpku
— RNC Research (@RNCResearch) June 1, 2022
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