Biden promised Americans he would give them Obama’s third term. His economy is delivering.
Wholesale prices rose 8.6% from a year ago in October, their highest annual pace in records going back nearly 11 years, the Labor Department said Tuesday.
As the Biden administration would put it, this is a “high-class problem”. And the New York Times will claim that the Americans unhappy with the economy have psychological problems. Twitter will trend #ThanksBrandon.
One-third of the increase in goods prices came from soaring gasoline, with prices rising 6.7%. Beef and veal prices represented the other side of the ledger, posting a collective decline of 10.3%.
All the better for the Left to advance its plan of eliminating gas and meat consumption.
Goldman Sachs economists over the weekend noted the “inflation overshoot will likely get worse before it gets better.”