American media:in less than a year and a half, he dragged the United States back to the 1970s

By yqqlm yqqlm

Reference News reported on July 31 that the United States《Wall Street Journal》On July 28, the website published an article entitled”Biden stagflation is coming”, and the full text is excerpted as follows:

Call it recession, stagflation, economic slowdown, temporary deviation, or even Ethel or Fred – no matter what you call it, the second quarter of the United States released on ThursdayGDPThe U.S. economy described in the report is struggling. This is distressing for American families and businesses living in it, and a political burden for Democrats in charge of the economy. No wonder they want to pretend that none of this has happened.

Consumer spending is at its slowest growth rate since the outbreak.Wal-MartAnd other retailers’ recent income shows that this is because inflation is devouring household income. Thursday’s data showed this problem:in the first two quarters, based on the price index of personal consumption expenditure(Federal ReservePreferred measure) the inflation rate reached 7.1%, and compared with the decline in consumer spending, the price of consumer goods showed an upward trend.

real wagesIn the decline, the real disposable income fell by 0.5%in this quarter, which is the fifth consecutive quarter of decline.

Private investment is also decreasing, with total private investment falling by 13.5%in the quarter. Fixed investment fell by 3.9%, and residential investment fell by 14%as the housing market cooled.

Well, blame everything. The decrease in inventory investment is a sign that enterprises are ready for a slowdown in demand. generalinflationCause serious damage to enterprise costs and investment plans. Another culprit is the refusal of the Biden administration and Democrats in Congress to abandon tax increases or costly regulatory provisions.

international tradeIs the biggest bright spot. If there is no 18%export growth, the quarterly contraction will be even greater. However, in the context of the energy crisis, Europe is in recession and other factors will exert greater pressure on the overseas markets of the United States.

Only when the National Economic Research Institute says that the economy is in recession (it won’t say it until a year or more after the situation has occurred) and the employment rate is declining (with investment and confidence plummeting, perhaps it’s only a matter of time), will Biden administration officials and their allies admit that they are in recession. Their idea is to pretend that the bad news did not happen, but the political risk is,Biden The president appeared unrealistic. As he said on Thursday, he said the negative growth in the second quarter showed”signs of economic progress”.

Biden 接手的是一个准备从疫情中恢复过来的不断增长的经济体,但在不到一年半的时间里,他将美国拖回了20世纪70年代。对于我们现在的情况,最好的说法是滞胀,是缓慢的增长与迅速上涨的物价的丑陋组合。这就是数万亿联邦开支、严厉监管、高税收威胁和宽松货币等一系列政策所导致的后果。现在是反其道而行之的时候了。

ten thousand and eighty-six

图片说明:Biden 7月28日在华盛顿与美国企业家就经济状况进行讨论(美联社)

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