Americans Will Never Forget The Historic Economic Collapse That Is Going To Hit During Joe Biden’s Presidency
We have faced a lot of significant challenges in modern American history, but nobody will ever forget the economic horror that is breaking loose during Joe Biden’s time in the White House. For years, we were warned that the policies that our leaders were pursuing would destroy the value of our currency and unleash rampant inflation. Now it has happened. For years, we were warned of a looming global energy crisis that
On Thursday, the average price of a gallon of gasoline in the United States reached yet another brand new all-time record high…
US gas prices have hit a new high of $4.71, just a day after hitting the record as seven states top off at $5 a gallon as inflation soars.
The national average jumped four cents overnight, leaving drivers in even more despair as gas prices continue to skyrocket emptying their wallets.
If Americans don’t like paying about five bucks a gallon, how are they going to feel when it takes about 10 bucks to buy a gallon of gas?
Fortunately, we did just get a bit of good news that should provide some temporary relief…
OPEC and its oil-producing allies agreed on Thursday to hike output in July and August by a larger-than-expected amount as Russia’s invasion of Ukraine wreaks havoc on global energy markets.
OPEC+ will increase production by 648,000 barrels per day in both July and August, bringing forward the end of the historic output cuts OPEC+ implemented during the throes of the Covid pandemic.
Unfortunately, this isn’t really going to change the trajectory of where we are heading.
In fact, one energy expert says that this is essentially just a symbolic gesture…
Robert McNally, president of Rapidan Energy Group and a former energy adviser to President George W. Bush, said prices rallied Thursday because the OPEC move was “more symbolic than fundamentally significant.”
“I wouldn’t call it a drop in the bucket. It’s basically a gesture… an important one symbolically,” he told CNN Business.
By June 2023, the cost of gas and food will have tripled. Inflation will be running at 20% annualized and unemployment will be over 10% and climbing. Of course, the stock market will have crashed and the republican congress will be pretty much powerless to do anything with a democratic president.
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