Whatever it is – man. It has to be some primo stuff, unavailable to the peasants who toil in America’s fields and farms and who, thanks to Joe Biden, can no longer afford what sundry pleasures they used to enjoy themselves.

Besides being a whizbang financial genius, did you also know she was a fiction writer? Not in the steamy Stacy Abrams mold – everyone keep yer drawers on, please – but there’s damn near as much fantasy at work. A fine example of her imaginative and lyrical prose is in, of all places, the Wall Street Journal today.

DO feast your eyes upon this sample.

Biden Has the Economy Back on Track
His policies have helped the country weather a global economic storm and invest for the long term.

The global economic storm unleashed by a once-in-a-century pandemic and a brutal land war in Europe has caused three years of economic disruptions in the U.S. and around the world. These are turbulent times, but the policies of the Biden administration have propelled the American economy to one of the fastest recoveries in modern history. Because of President Biden’s plan, we have improved the economic well-being of American families and workers and strengthened the economy’s resilience in the face of significant global headwinds.

…Yet the worst didn’t materialize. Fears of a protracted economic crisis—in which millions of homes, businesses and livelihoods would be lost, many never to return—didn’t become reality. Instead, the American Rescue Plan and vaccination campaign helped spur the fastest pace of job creation in American history.

…Now the Biden administration’s task is to navigate the economy’s transition from rapid recovery to stable and sustainable growth. Historically, these transitions haven’t been straightforward. But the task became significantly more challenging when Vladimir Putin launched his brutal invasion of Ukraine, which sent global energy and food prices skyrocketing.

…Energy has been a key focus of the administration’s work. Most recently, the U.S., along with allies and partners, implemented an innovative policy to cap the price of Russian oil and stabilize energy prices. We have also shored up crude-oil supply through the president’s release of 180 million barrels of oil from the Strategic Petroleum Reserve. Today, average U.S. retail gas prices are about $1.50 a gallon lower than this summer’s peak.

…More broadly, recent economic reports indicate that the U.S. economy remains resilient. It’s growing amid a global slowdown and tightening financial conditions. The labor market is strong, with the unemployment rate near a 50-year low. Household balance sheets remain healthy, consumer spending is robust, and credit-card delinquencies are low.

So it goes on, paragraph after paragraph of rapturous paeans in the Song of Biden. I can’t decide if she wants to keep her current gig or if this is setting the stage so she’s seen as loyal enough to be rewarded with something lucrative. You know – as a consolation prize when they do give her the boot. Whatever the case may be, there is so much wrong with darn near every slobbering sentence that there’s not enough time to fisk the whole thing.

It does make you wonder if she’s even aware there’s a Federal Reserve in the same city she has her office. Do they ever talk? Because, if they did, she might have known about the forecast released yesterday and dialed back a bit of the chirpiness.

Looking at yesterday's economic projections from the FOMCC.
I hope everyone appreciates they forecast one of the most dismal years in the history of the US Economy.
No growth, and over a million job losses.
There's a reason media doesn't report this.. pic.twitter.com/JgnIr8WwJu

— Frog Capital (@FrogNews) December 15, 2022

There’s been significant deterioration – that’s the word – in the Fed’s projections since their September forecast. Higher inflation, higher unemployment, higher Fed Funds rate.

Chirpy, no?

I’ve already noted the savings rate sinking to a multi-decade low in a previous post. There was a credit industry report from TransUnion in November throwing warning flags then about ballooning balances, rising delinquencies, and WHY (Hint to Janet: people can’t keep up.).

Credit Card and Personal Loan Balances Reach Record Levels as Consumers Navigate High Inflation, Rising Interest Rates

The third quarter of 2022 saw more consumers turning to unsecured personal loans and credit cards as a means to help stave off the financial pressures brought on by inflation. TransUnion’s (NYSE: TRU) newly released Q3 2022 Quarterly Credit Industry Insights Report (CIIR) also shows that while delinquencies for most credit products remain in line with pre-pandemic levels, they continue to rise from the very low levels seen in 2021, particularly among subprime segments of customers.

“Consumers are being pressured on multiple fronts, first by this environment of high inflation, and secondarily by the higher interest rates that the Federal Reserve is implementing to tamp it down. However, as long as employment numbers remain strong, there should continue to be a steady flow of customers seeking access to new credit products, credit cards and personal loans in particular, and concurrently, an ample supply of lenders willing to offer credit to them,” said Michele Raneri, vice president of U.S. research and consulting at TransUnion. “Delinquencies remain in line with historical levels for most credit products. However, levels have been rising over the past year, particularly among subprime consumer segments, and should be monitored in the coming months to look for similar increases in other credit risk tiers.”

Paying down balances that have spiraling interest rates is not an easy thing to do, especially when real-time wages aren’t keeping up with inflation. Or you lose your job.

The slope on full-time employed median weekly earnings sure screams “healthy household balance sheet” doesn’t it?

Biden has drained the strategic petroleum reserve to its lowest point since 1984 – 382.3M bbls.

Oil exports from the United States in November set a historical record, reaching almost 11.8 million barrels per day. But it also led to the largest reduction in the strategic reserve. pic.twitter.com/ukOlYGMR4h

— dana (@dana916) December 10, 2022

Did Biden do it for altruistic reasons, to stop the suffering of the American people at the pump?

BWAHAhahaha!

Foolish you! Don’t fall for the silly “We have also shored up crude-oil supply through the president’s release…” Yellen story.

U.S. Is Already Exporting Oil From Strategic Reserve at Record Pace
Three cargoes loaded onto a supertanker headed for Asia
Democrats pressure Biden to consider SPR release, export ban

It’s going to his buddies in China and Europe, and making lots of cha-ching on its way over for somebody. Not us. What we get to do is attempt to refill the thing for bazillion more than we should be paying, not to mention it will ALL BE FOREIGN OIL. All while there’s still a garrote yanked tight around the neck of American drilling.

Malevolent clowns.

Yellen’s is out to lunch…permanently. I think we all knew it, more’s the pity. She’s willing to wallow in sucktastic lies on her way out, so not only is she irredeemably stupid but disgustingly craven.

Nothing but bad Biden rubbish we continually pay the piper for.

I’ll leave you with what I’ll call 2022’s Joe Biden Advent ADVERSITY Calendar.

Ok. I remade this and will track it for the rest of the year. pic.twitter.com/uPYmHvMVvd

— Frog Capital (@FrogNews) December 15, 2022

The surprises behind the doors aren’t fun when you open them.