BY STEPHEN GREEN AUG 10, 2022
Falling gas and food prices aren’t much to celebrate, I’m sorry to say. The food price reprieve is likely only temporary. The effects of various droughts and fertilizer shortages have yet to make themselves fully felt. And beef prices are down because of a big cull. The next herds will be necessary smaller, and prices correspondingly higher.
As for gas prices, $4 is still nearly twice what we were paying when Biden was sworn in last year. Until and unless his administration ends its war on domestic energy production, $2.20 gas will remain in the rearview mirror.
The real measure of the economy under Biden’s tax-and-spend and borrow-and-regulate regime is take-home pay.
ZeroHedge has the nasty-looking chart: