Used Electric Vehicle Prices Crashing As Fed Pushes Auto Loan Rates Above 7% (60M Auto Loan Rates Up 74.4% Under Bidenomics)

Yes, one of the cornerstones of Bidenomics is the massive expansion of (impractical) electric vehicles (or EVs). You know, those mondo expensive cars that run out of power after a couple of hundred miles requiring a lengthy recharge (kind of makes long distance trips the domain of Internal Combustion Engine (ICE) cars.

But as Biden/Congress spent trillions on green energy (massive subsidies for anything green), we noticed that 1) inflation hit 40 year highs and 2) The Fed intervened to raise rates. So, now we see that 60-month auto loan rates are now around 7.36%, up 74.4% under “Middle Class Joe.”

And we see used EV prices collapsing like a week-old soufflé.

Speaking of green energy fraud, here is the leader of the green energy fraud movement, John F’ing Kerry. Aka, Heinz Planes Grifter.

Biden Blitz! Small Business Optimism Shrinks To Below Covid Levels As Fed Retreats To Fight Inflation (Blitzkrieg Biden?)

Between inflation under Biden and The Fed’s counterattack to get inflation to 2%, I call this the Biden Blitz.

Unlike what the elites in Washington DC think, small business are the cornerstone of the US economy. Unfortunately, small business optimism is getting crushed and just fell in March to a level lower than that found during the Covid economic shutdowns of 2020. HOW is it possible for small businesses to be even less optimistic than it was in April 2002, the nadir of the Covid economic shutdown?

Small business optimism soared in November 2016 after the election of Donald Trump and remained high (above 100) until Covid struck in March 2020. Small business optimism rose above 100 again with the massive money printing by The Fed (green line) and Federal spending spree. But as M2 Money growth slowed, small business optimism hasn’t been above 100 since August 2021. It has been all downhill since then as The Fed started to raise The Fed Funds Target Rate quite rapidly.

NFIB small business credit conditions are negative at -9.0 and sinking like The Titanic.

Biden is the face of big business (big banks, big pharma, big tech, big defense, big labor unions, big media, etc.). Biden just told Al Roker that he is indeed running for reelection, supported by …. big banks, big pharma, big tech, big defense, big labor unions, big media, etc.

Biden is no longer a President, but an old-time preacher screaming about MAGA Republicans as if they were demons. This is called Blitzkrieg Biden.

Weekend Update! Crude Oil Above $100, Diesel Fuel UP 155%, Coal UP 256% Under Biden, Mortgage Rates Now Above 4.5%

The news just keeps getting worse and worse. Russia is still assaulting Ukraine, WTI Crude prices are above $100 a barrel and climbing, the Cleveland Browns signed Deshaun Watson to replace Baker Mayfield at quarterback, etc.

But back to energy prices. Since Biden was sworn-in as President, WTI Crude Oil futures are up 125%, regular gasoline prices are up 89%, and diesel fuel prices are up 155%. Diesel is important since America uses diesel-powered trucks to transport goods to market.

Globally? The world inflation rate has grown from 2% in January 2021 to 6.82%. Global food prices are up 24%.

Yes, WTI Crude and Brent Crude are above $100 per barrel.

And coal prices are up 256% under ~~Shoeless~~ Brainless Joe.

Mortgage rates? Bankrate’s 30-year mortgage rate is now above 4.50%.

Let’s see if Dr. StrangeFedpolicy raises rates as aggressively as signaled.

NOT In Labor Force Remains Near 100 Million As REAL Hourly Earnings Drop To -1.4% YoY (Biden Celebrates Unemployment Rate Dropping To 4.2%?)

President Joe Biden took to Twitter yesterday to celebrate how well his economic policies are working, particularly the American Rescue Plan. Between Congress and The Fed pumping trillions of dollars of stimulus in the economy, how is this surprising? Or a reason for celebration?

While declining unemployment is great, there is more to the story that President Biden failed to mention. Like … the number of people NOT in the labor force remains near 100 million (99,997,000 to be exact). Thanks to Covid-related policies (like job loss due to resisting vaccinations), increasing retirement, etc.), NOT in labor force remains elevated compared to pre-Covid levels. And, of course, Biden doesn’t want to mention that inflation is growing faster than hourly wage growth resulting in REAL hourly wage growth being -1.4% YoY.

And President Biden took credit (he is a politician, after all) for a small decline in gasoline prices. Of course, after helping send gasoline prices up over 50% since he took office.

So, is Biden going to take credit for increasing gasoline prices by 50%? And declining REAL average hourly earnings? Or over 100 million people NOT in the labor force? I doubt it. But he is focusing on the POSITIVES of his American Rescue Plan.

Its a bold strategy Cotton, let;s see if it pays of for him.