When inflation is so bad that REAL wage growth is negative (-3.31% YoY), I would hardly call that a strong economy for the middle class and low-wage workers.

We also see that REAL home price growth (existing home sales median price YoY – CPI YoY) has slowed to only 2.23% YoY in July.

As The Fed tightens, it is only growing to get worse.

Perhaps Biden can enthrall us with yet another “Corn Pop was a bad dude” story.