2 years ago
Date: 11 Aug 2022 - 01:30

President Joe Biden stated Wednesday that the U.S. economy had zero percent inflation in July following the latest CPI report. Biden is claiming that we saw zero percent inflation last month. But theres a zero percent chance thats the case. Inflation in July was 8.5 which is still a 40year high said a lawmaker. Bidens Zero Inflation Comment and ResponsesOn Wednesday President Joe Biden publicly stated that the U.S. economy had 0 inflation in July after the latest consumer price index CPI report was released.Before I begin today I want to say a word about the news that came out today relative to the economy Biden began. Actually I just want to say a number zero. The president addedToday we received news that our economy had zero percent inflation in the month of July. Zero percent.The White House press secretary Karine JeanPierre similarly stated on Twitter We just received news that our economy had 0 inflation in July. While the price of some things went up the price of others like gas clothing and more dropped.Comments flooded social media platforms following Bidens zero percent inflation claim. Some gently explained to him that inflation is not 0 while others flatout insulted the U.S. president.Rep. Mike Bost RIL tweetedBiden is claiming that we saw zero percent inflation last month. But theres a zero percent chance thats the case. Inflation in July was 8.5 which is STILL a 40year high.American author Jeffrey Tucker called Bidens zero percent inflation claim a bogus math trick noting This is the overall onemonth index change. Overall that means that the big drop in fuel oil and gas following previous massive monthly increases swamped the huge increases everywhere else. He added Using the same tactic you could also observe a onemonth 19.2 increase in electricity But of course we would not do that because thats dumb. The actual increase is 15.2 which we get from calculating year over year.Rudy Havenstein opined For the president and others to publicly claim with a straight face that there was x2018zero inflation last month is gaslighting at an extreme level and insulting and thoughtless and I do not think it will go over well with nonideologues.Tricia Flanagan wrote Its actually 8.5 inflation in July NOT x2018ZERO Joe. This misunderstanding of basic economics is sad misleading dangerous.U.S. Senator Lindsey Graham RSC commentedWhat world is President Biden living in Americans continue to suffer under Biden inflation. Clearly he hasnt bought any food or filled up a gas tank x2026 How out of touch can you be Sad and dangerous.California House Republican Leader Kevin McCarthy tweeted President Biden just said x2018our economy had zero percent inflation in the month of July. Noting that gas price is up 44 airfare 27 and groceries 13 he stressed While you continue to pay for his failures Biden owes the American people the truth about inflation.Rep. Ralph Norman RSC mocked the zero percent inflation tweet by the White House press secretary statingWere more than 4X the normal rate of inflation and the White House spin is x2018Look everybody Zero percent last month Such B.S.Fox Business anchor David Asman said Lies damn lies and statistics. Inflation is UP 8.5 year over year. Todays number is all gas the demand for which has come down to levels not seen since 2020 lockdowns x2026 food is still up 10.9 year over year. Folks can cut road trips not food.Some people pointed out that if Biden believes that there is zero percent inflation then there is no need for the Inflation Reduction Act and the 80 billion fund to allow the Internal Revenue Service IRS to hire new agents.Referencing the U.S. governments efforts to redefine the technical definition of the word recession managing editor Spencer Brown wroteThe White House already tried to redefine x2018recession and now they expect Americans to believe that the 8.5 annual CPI number reported for July is x2018zero inflation. Unreal.He described The Biden administrations celebration comes at the ignorance and expense of Americans who are living paychecktopaycheck but the White House clearly doesnt know or care about what the American people are dealing with.What do you think about the 0 inflation comment by President Joe Biden Let us know in the comments section below.

Read in the source

Share this page

👑 Collect a daily bonus of 10 Crowns every day for free! Collect the bonus on the personal page of the Crowns
🔗 Join our referral program and earn Сrowns together! Invite your friends to our friendly community

Crypto Overview Show morenavigate_next

USDT Market Price Change (24H) Market Cap Last 7 Days
39997.79 $ 0 % 760.32 Billion $
3001.33 $ 0 % 360.05 Billion $
1.001 $ 0 % 82.65 Billion $
398.86 $ 0 % 59.29 Billion $
1.004 $ 0 % 50.96 Billion $
101.49 $ 0 % 33.28 Billion $
0.122 $ 0 % 31.52 Billion $
0.7024 $ 0 % 30.96 Billion $
82.96 $ 0 % 29.44 Billion $
0.9455 $ 0 % 29.42 Billion $

Crypto News Show morenavigate_next

After several days of trading above the coveted 20000 line bitcoin took a turn for the worse and dropped below that level.Most altcoins are also well in the red led by FTTs massive doubledigit decline. Chainlink is the only exception in the green.Bitcoin Dumps Below 20KLast week was quite positive for the primary cryptocurrency which jumped above 20000 and went as high as 21500 during the weekend

The tiny Pacific nation of Tonga could have Bitcoin as legal tender by Q2 and Bitcoin mining by Q3 of 2023.

One of the most popular Metaverse crypto coins for new traders is low unit price projects since you can accumulate a more considerable amount of tokens and the price usually shows higher fluctuations. With the highly volatile cryptocurrency markets this week Metaverse crypto coins dominate the markets. Thats why we decided to hand pick our list of the top three Metaverse crypto coins with a unit p

The EIP1559 upgrade is now live on Polygon bringing fee burning and 8220improved fee visibility8221 to the network.Folks EIP1559 is a few hours away from going live on the Polygon mainnet.The highlyanticipated upgrade brings MATIC burn and improved fee visibility.Find out more httpst.co7fRxSZIrdvmdash Polygon MATIC 0xPolygon January 17 2022Polygon intends to provide a more scalable and useable E

Justin Sun of TRON DAO unveiled a 5 billion relief plan for the embroiled crypto industry.Similarly to Binances CEO Changpeng 8220CZ8221 Zhao Mr. Sun has received around 100 applications from struggling firms.Mr. Sun posits that 8220the worst time has passed8221 for crypto.While many blockchain companies are struggling there are yet some that are willing and able to lend a helping hand in these tr

Osmosis founder Sunny Aggarwal took to the Comosverse stage in Medellin on Sept. 26 to speak not about Omosis but mesh security systems.Aggarwal opened his talk in a 40lb suit of chainmail armor which he 8220lugged across two continents8230 for a oneline joke.8221 Given the party atmosphere that had already been seen at the conference the armor was in keeping with the events mood.Source Cosmosvers

Read in the DigestEthereum gets Bellatrix as 78 of nodes upgrade 8211 FTX amp Binance to pause Eth and wEth transactions.Bitcoin BTC recovers to 20K 8211 dormant BTC supply hits new alltime high.TerraClassic USD USTC is todays biggest gainer 8211 LUNC keeps pumping.Binance to delist and convert USDC USDP and TUSD into its BUSD stablecoin.Bitcoin mining pool Poolin suspends withdrawals amidst liqui

South Koreas Ministry of Strategy and Finance has issued a statement announcing that virtual asset airdrops can also be subject to the gift tax.According to the interpretation of the Ministry of Finances tax law based on individual cases gift tax will be applied to free virtual assets when the property value is paid out.The matter came to light as the government was responding to a tax law interpr

Fintech startup Flutterwave announced recently that it has raised 250 million from its Series D funding round. The funding round which attracted international investors saw the startups value rise to over 3 billion. Capital Raised to Fund Flutterwaves Expansion PlansThe Nigerian fintech startup Flutterwave recently announced it raised 250 million in a Series D funding round. The latest capital rai

The past 24 hours were quite turbulent throughout the cryptocurrency field but this time around bulls managed to catch a break and recovered some of the previous losses. The total market capitalization increased by about 120 billion since yesterdays bottom as many coins managed to bounce back.Bitcoin Price Bounces 10Right off the bat its worth looking into Bitcoins price which went on a massive ro

Bashoswap a multiprotocol decentralized exchange based on the Cardano network seeks to facilitate swaps between ADA and other crypto assets on Cardano.Bashoswap DEX will be a new DeFi protocol on Cardano that will utilize automated market maker AMM protocol for token swaps. Bashoswap will follow the EUTXO protocol to create a trustless environment for the decentralized exchange of assets.According

Following the recent bearish market sentiment Cardanos ADA lost the psychological key support level of 1. In case this level wont get reclaimed by todays daily close ADA will record a fullcandle body trading below 1 for the first time since February 2021 .Key Support levels 0.84 0.68Key Resistance levels 1 1.2Over the past month ADA was trading amid the 1 mark. Despite two wicks below in January t

Indian Finance Minister Nirmala Sitharaman says that the countrys crypto policy will not be rushed. Our intention is in no way to hurt the ecosystem or to even say that we dont need it she added.Finance Minister on Indian Crypto RegulationIndias finance minister Nirmala Sitharaman discussed cryptocurrency regulation Wednesday at a fireside chat organized by Stanford University School of Medicine.S

Social media is one of the most important inventions of the digital age. It has allowed us to communicate and connect with the world in a way that has never been possible in human history. Furthermore it offers us the ability to form bonds with the world and find likeminded individuals who share the same ideas and beliefs.However social media is not without its limitations. One of the largest of w

Bitcoin can serve as an excellent gift for those trying to introduce people to the technology who may not have taken the plunge on their own.This is an opinion editorial by Koa Frederick Senior Vice President of SaaS strategy at Accelerate Agency.Giving gifts can be a tricky thing. Plain old cash seems low effort. Socks are called unmentionables for a reason. Personal care products could get inter