Gasoline price is hitting a new high, trade deficit ballooned 22.5% in a month and the Fed just confirmed they are tightening at the fastest pace and highest VIX level in history.

US in economic freefall, trade deficit up 22.3% in March
We now make very little except energy for export, the economy is in freefall.

I walked through the family room last night as the wife was watching the nightly lies on cnbs and the liar was saying 4.5 million employees quit their jobs in March. Ha! 4.5 million employees LOST their jobs.

CNN Poll: 77% Say Joe Biden’s Economy Is Poor – the RATS turn on Biden
About 77 percent believe President Joe Biden’s economy is poor. Forty-seven percent said the economy is somewhat poor, while another 30 percent said it is very poor.

Only two percent said the economy is “very good.” Twenty-one percent said it is “somewhat” good.

The poll sampled 1,007 Americans from April 28 to May 1 with a margin of 3.9 percent.

The poll also found that the economy is the number-one issue for Americans by 36 points (50 percent).

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Americans (now) trust Republicans over Democrats by 19 points to handle inflation (50-31 percent).

EVERYTHING IS GOING SWIMMINGLY: Why Energy Prices Are Projected to Increase 50% in 2022—After Doubling Last Year.

In its latest Commodity Markets Outlook report, the World Bank projected commodity prices will remain higher for years to come. Perhaps most alarming is that the multilateral bank projects energy prices will soar 50.5 percent this year—after nearly doubling in 2021. The rise in energy prices, the Wall Street Journal reports, has been “the most significant since the early 1970s.”

Food prices, meanwhile, which rose 31 percent last year, are projected to increase 23 percent this year. Needless to say, these price increases come at considerable cost, particularly to the most vulnerable in society.

“The resulting increase in food and energy prices is taking a significant human and economic toll,” said Ayhan Kose, director of the World Bank’s Prospects Group. “It will likely stall progress in reducing poverty…[and] exacerbate already elevated inflationary pressures around the world.”

Anyone born after about 1970 doesn’t really remember the malaise, stagflation, and useless leadership of the Carter years — but they’re about to get a lesson.


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