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Biden’s Economy:
“You will see a depression the likes of which you have never seen,” Trump warned Fox Business host Maria Bartiromo in August 2020. “I think if [Biden] wins, you’re going to end up with a disaster, to be honest.”
“I feel that if the Democrats get in, we are literally going to end up in a recession/depression, the likes of which you’ve never seen. There will be tremendous negative growth. There will be bedlam all over the place. There won’t be law and order,” Donald Trump told his son Donald Trump Jr. on a June 2020 episode of Triggered.
Consumers have suffered from the Biden administration’s inflationary spending, supply chain crisis, and attacks on U.S. energy markets which have caused a decline in real wages and crashing 401ks.
The Federal Reserve Bank of Richmond and the Federal Reserve Bank of Dallas released June survey reports showing the U.S. economy is slowing down under the weight of inflation.
The composite manufacturing index from Fifth District manufacturing firms “fell from -9 in May to -11 in June, as two of its three component indexes dropped further into negative territory,” the Federal Reserve Bank of Richmond reported.
The Federal Reserve Bank of Dallas reported factory activity in Texas fell from 18.8 in May to 2.3 in June, and the “new orders” index and the “future production index,” which gauge market demand to plan for future manufacturing needs, dropped for the first time in two years from 19.9 to 4.0.
Biden’s treasury secretary, Janet Yellen, admitted during an appearance on Wolf Blitzer’s CNN show, “The Situation Room,” that she misjudged the warning signs of how long inflation would plague Americans. (RELATED: Consumer Expectations For The Economy Hit Lowest Point In A Decade)
“I was wrong then about the path that inflation would take,” Yellen said. “As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn’t — at the time — didn’t fully understand, but we recognize that now.”
The Biden administration is proving Trump correct more than the fact-checkers would like to admit.
https://dailycaller.com/2022/06/29/predictions-donald-trump-got-right-about-joe-biden/