Ok, let’s see a show of hands — who actually finds this perfectly obvious news to be “unexpected”?
No one here? Good.
So just how biased and corrupt is even the financial media now?
It’s this biased and corrupt.
Consumer sentiment in the U.S. has unexpectedly decreased in the month of May, according to preliminary data released by the University of Michigan on Friday.
The report showed the consumer sentiment index dropped to 82.8 in May from 88.3 in April. The decrease surprised economists, who had expected the index to rise to 90.4.
It didn’t take an economist to predict that keeping several large states’ economies closed, the federal government printing money faster than a counterfeiter rolling down the autobahn in a Lamborghini, and Biden deliberately strangling domestic energy producers in the name of his Green New Deal scheme, would bring about inflation.
I’m not an economist. I anticipated it. I bet every reader here did too.
What does it take to see this gigantic freight train barreling down the tracks straight at you? Eyes and common sense.
When inflation hits, taking a bite out of consumers’ paychecks sharper than the bites Air Force One’s stairs take out of Joe Biden’s shins, and it doesn’t appear to have an end in the near future, consumers react. They get negative on their economic prospects. It’s all quite predictable that consumer confidence would drop faster than a cliff diver when inflation rises faster than one of Elon Musk’s sleek rockets.
[Curtin] added, “The average of net price mentions for buying conditions for homes, vehicles, and household durables were more negative than any time since the end of the last inflationary era in 1980.”
Jimmy Carter smiles. Republicans are sure to POUNCE on this news. Perhaps we’re pouncing all over it like a feral cat on a stray chipmunk right now.
Herein is a brief summation of our current national and international situation, with recent foreign policy developments overlayed and placed into proper context, after a little over 8% of the Joe Biden presidency.