It was really like that, Biden turned everything upside down [mal]. One day, the White House chief blames oil companies, another on Russia’s war in Ukraine with Washington’s encouragement, and the next on COVID-19. Desperation is becoming more and more noticeable, in addition to being meticulously used and using “smoke curtains” to distract the audience.
Disinformation campaigns about firearms, the war in Ukraine, abortion, the illegitimate commission of inquiry into the events on Capitol Hill and their media exposure in the liberal media along with their accusations against the American oil industry are part of the political game used by the left. When facing severe crises.
Neither the war in Ukraine, nor the epidemic, nor January 6 in the Capitol, nor the campaign against firearms, nor aboard the ship; Nothing has worked so far for the White House to manipulate public opinion and convince the majority of Americans.
More than a third of the White House press team have resigned in recent weeks over their demands for a better job to convince Americans that the country is doing well.
The journalists decided to leave due to the president’s lack of understanding or his refusal to improve the apparent opposite reality of the entire country.
Inflation in the United States hit another record high in May, reaching 8.6%, the indicator that measures consumer prices. The value of oil does not pay off and experts predict worse months; Even above $130 a barrel of crude oil at times when it fluctuates between $115 and $123.
Biden this week criticized the US oil industry and blamed oil companies for high gasoline prices, when – backed by a far-left agenda – he was the one who ordered a halt to production and exports through executive orders he signed from day one in the Oval Office.
“The fossil fuel industry is obsolete and polluted, from my first day I will start the transition to clean energy. Enough of oil, it’s time to change this industry,” Biden said when he was still a presidential candidate.
Far left and blame others
A message from Biden, sent to seven major oil companies, was the direct warning in his campaign to blame the industry for hyperinflation.
The average price of fuel in the United States is now $5 per gallon of regular gasoline, up from $2.22 at the end of December 2020, less than a month after former President Donald Trump left office.
Blaming the Ukraine war didn’t work with Washington’s advisors either. According to surveys, more than 68% do not believe that the Russian invasion is the cause of inflation levels in the United States.
For her part, Treasury Secretary Janet Yellen was forced to publicly admit her mistakes on inflation and left the door open to the possibility of her resignation in an interview.
Jerome Powell was left with no other choice but to commit to the gross mistakes of the Federal Reserve (Fed or Central Bank) made by the Biden administration, in contrast to the effective measures that have been implemented since the beginning of the COVID-19 epidemic. The path to a rapid and strong economic recovery. Curbing came with the new government and its skewed policies on climate change, opening the doors to immigration, the war on fossil fuels, and succumbing to far-left reforms.
Powell admitted last month in an interview with the Wall Street Journal: “Too late…we’d have better start raising rates much sooner.”
The Federal Reserve announced another rate increase of 0.75% in July
The situation has become so tight that the central bank just raised interest rates by 0.75%, the largest increase since 1994. Previously, it had made two: one at 0.25% and another at 0.50% between March and April and May of this year. .
This is the third increase in a row and takes the federal reference rates to the 1.50%-1.75% range.
According to Powell, the aggressiveness with which the Fed was forced to act would not hurt the economy so badly, which is another argument with which experts disagree.
Diane Sonk of consulting firm Grant Thornton called the Fed’s forecast “fanciful”.
The Fed chair also announced that another rise of 0.75% in July was highly likely, which will set the Fed rate at 2.25%-2.50%.
After the Fed’s decision, mortgage rates soared to a 13-year high, with the average 30-year fixed-rate home loan reaching 5.78%.
At the start of the pandemic, one of the measures was to cut rates to zero and 0.25% to stimulate investment, maintain confidence in the financial system, strengthen the dollar, and pull the economy out of the post-pandemic recession, among other goals.
Wall Street entered the so-called bear market on June 13, after fears of a weak economy and rising interest rates, sending the S&P 500 index down more than 20%, below its record high at the start of the year.
She lives with a disability in Washington
But advisers seem to be throwing Biden’s speeches far from reality, by way of complacency.
“My administration is prepared to use all reasonable and appropriate tools of the federal government and emergency powers to increase refining and production capacity in the short term, and to ensure that every region of this country is adequately supplied,” Biden noted in his letter. , without detailing – as usual – what kind of actions he can take.
“The crises that families are facing deserve immediate action. Your actions must work with my administration to come up with tangible solutions,” he added.
Which seems very simple. Oil companies pay Biden the same currency as [si usted ordenó nuestra eliminación, ahora no espere comprensión por sus descabelladas intenciones, mucho menos respuestas afirmativas a sus desesperadas exigencias].
The American economy does not operate with political agendas of a socialist nature, but with respect for the foundations of its structure through [leyes autónomas probadas] that promote, regulate and develop markets, consumption and production. The desire to change the Western capitalist system is the worst mistake of the New Democratic Party in the United States, led by the local socialist current by definition (Progressive), when it truly represents decline, decadence and destruction, [nunca progreso].
Al-Zaytoun respond to Biden
The American Petroleum Institute (API), which represents the industry, said capacity has been cut as the Biden administration tries to distance itself from fossil fuels as part of the climate change agenda.
“While we appreciate the opportunity to open further dialogue with the White House, the administration’s misguided policy agenda away from oil and natural gas has exacerbated inflationary pressures and added obstacles to businesses’ daily efforts to meet growing energy needs, while reducing greenhouse gas emissions,” said API General Manager Mike Summers. .
Summers noted that “in a letter to President Biden and his government, I reiterated 10 important policy measures to alleviate consumer suffering and enhance national security, including approving critical energy infrastructure, increasing access to capital, and holding energy auctions, among other urgent measures.” . .
In Biden’s view, refiners are exploiting “wartime” uncertainty and some far-left lawmakers have already suggested working against corporate windfalls, as socialist regimes do.
The arrival of the White House’s reaction to inflation [demasiado tarde]After nearly a year of turning his back on a crisis that was worsening month after month, with the cautions and warnings of economists, Republican lawmakers and independent analysts.
Those below pay the waste
Consumers are increasingly experiencing price hikes and ever-increasing debt.
American household debt rose by more than $320 billion in 2021, with no way out in sight, let alone the government’s ability to explain or provide any guarantees for anything. The number is the largest nominal jump since 2007 and the largest increase in more than 8 years.
Overall, US consumers finished 2021 with [deuda] More than $15 billion and nearly $900 billion more than was owed at the end of 2019.
Retail sales fell 0.3% in May. The report highlighted how consumers have stopped buying products that were in high demand during the pandemic.
On the other hand, sales of furniture, household goods and electronics stores decreased 1%. Construction and gardening goods and merchandise in general also showed a decline.
Online orders are down 1% as customers return to stores. Meanwhile, in-store food sales rose 1.2% due to higher prices rather than consumption.
The sharp decline in car purchases, due to worsening prices and a shortage of inventory, led to a decrease in the overall sales figure.
The desperation in Washington is such that Biden is scheduled to meet next month with the Saudi family, which he said should be “turned into a pariah.”
The White House chief decided to face intense criticism from dozens of lawmakers and senators from his Democratic Party, while rights activists accuse him of committing a crime. [vender su alma por petróleo]. Such is how contradictory and unpredictable things are today in Washington, but nothing different can be expected.