By Robin Itzler,
Editor's Note: This is one of the commentaries selected from Robin's weekly newsletter
Patriot Neighbors. Any cartoons appearing will have been added by me. If you wish to get the full edition,
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Every time Americans go grocery shopping, we are reminded that Democrats (currently led by Joe Biden) have been a disaster for this great nation. Consider the state of the union on Donald Trump’s last day in office:
- Inflation was at 1.4 percent
- The southern border was secure.
- Gas averaged $2.39 a gallon.
- The average 30-year mortgage rate was less than 3%. The world was at PEACE.
- Thanks to Democrats, the American middle-class is being viciously attacked with inflation. Consider Joe Biden’s overall record:
* Due to the green energy agenda, all energy is up nearly 36 percent.
* Federal funds interest rate is currently 5.25 to 5.5 percent.
* Over 10 MILLION illegal alien invaders have entered the United States.
* There’s been a surge in espionage incidents connected to China.
Walmart Fighting Bidenomics digitally
Walmart continues testing digital shelf labels, which makes it much easier and less costly to raise prices on items. Currently, 63 Walmart stores have converted to digital shelf labels in the pilot program that started in 2023. The international retailer insists that this is being done to provide customers with more service as employees would not be busy changing shelf labels. Yeah. Maybe. How about being honest and admitting it’s being done to easily raise prices on items?
Digital labels replace traditional paper labels, which must be printed and placed by hand. If the pilot program is successful, digital labels should be in Walmart’s 2,300 stores by 2026.
Other stores (such as Kohl’s) have already moved to digital shelf pricing, but due to its position in the retail world, anything Walmart does reverberates throughout the industry.
Recession: Is one coming?
Since the Biden administration doesn’t understand what printing money does to our economy, we could soon be looking at a recession. Of course, Biden, Harris and all the good Marxist-Democrats have to print money to pay for the government freebies for the 10+ MILLION ILLEGAL ALIEN INVADERS they are: feeding, housing, educating, clothing and medically treating—and want to vote Democrat ILLEGALLY!
This money isn’t being printed to help our veterans, but for illegal aliens! And Biden-Harris needs money to pay off student loans. To also send to Ukraine. To pay for transgender surgeries. Shall we go on?
Jason Ma at Fortune magazine thinks we are heading toward a recession:
The U.S. unemployment rate ticked up to 4.1% in June from 4% in the prior month, nearly triggering a reliable recession indicator.
While unemployment is still historically low, its rate of increase could be a sign of deteriorating economic conditions. That’s where the so-called Sahm Rule comes in.
It says that when the three-month moving average of the jobless rate rises by at least a half-percentage point from its low during the previous 12 months, then a recession has started. This rule would have signaled every recession since 1970. Based on the latest unemployment figures from the Labor Department’s monthly report on Friday, the gap between the two has expanded to 0.43 in June from 0.37 in May.
It’s now at the highest level since March 2021, when the economy was still recovering from the pandemic-induced crash. The creator of the rule, Claudia Sahm, was an economist at the Federal Reserve and is now chief economist at New Century Advisors. She has previously explained that even from low levels a rising unemployment rate can set off a negative feedback loop that leads to a recession.
The unemployment rate rose to a three-year high of 4.1% in June, with 6.8 million people unemployed. At that time a year ago, the unemployment rate was at 3.6% and 6 million people were unemployed.
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