You’ll have to give me about less than ten days “grace period” in order for all the examples I will cite today to be contained within the summer of 2023. That’s not much compared to the evil that men of ill will could do with them.
Joe Biden seems to be rolling out a campaign theme the title of which he purloined from the Wall Street Journal (not exactly a liberal publication, it is owned by Rupert Murdoch) – Bidenomics. The Wall Street Journal and the right wing are falsely portraying a bad economy and blaming it on Biden. In reality the economy is in good shape, (as of this writing) moving in the right direction and outperforming most other similar nations’ economies. That is all in danger over the rest of the summer.
Monday we were met with the news that Russia was suspending the grain deal with Ukraine. If that sticks, food prices are sure to increase in America since grain is a global commodity. Increased food prices mean an increased cost of living and Americans will, with the help of the Republican mythology machine/media, blame it on Joe Biden and the Democrats. Much of the progress on bringing down inflation could be quickly wiped out.
Next week Tuesday and Wednesday the Fed meets. Most were expecting an (in my opinion) unnecessary quarter of a point interest rate increase. That will dampen the economy and raise costs for anyone who borrows. The lower on the social economic scale you are the harder this will hit you. For all it will further put the brakes on the economy. I am still convinced that the Fed will not stop raising rates until after it has put the American economy into a recession.
The current UPS contract expires with the end of July and negotiations aren’t looking very fruitful at this point. A UPS strike on August 1 looks very, very possible. If it happens it will severely disrupt the supply chain. Remember that was part of the transitional inflation we just recently came out of. It would result in higher prices, product shortages, runs on some products and a general unease. I’m certain the right will be quick to pin the blame on Biden. If (and at this point I’m not recommending he do so) Biden were to interfere with the Teamsters he would lose labor support which is always difficult for a Democrat. A lot is yet to unfold here but the potential is huge.
The last event takes me just a few days past Summer 2023’s official end. The current federal government’s fiscal year ends with September. Without funding or a continuing resolution, the federal government will have to shut down on October 1st. There is a large portion of the House Republican Caucus that would like nothing better and they will be quick to run to right wing media and blame it all on Biden.
This is a pessimistic view but it all could happen. Most congressional Republicans would be only too happy to see it happen despite the harm it would cause their country and their constituents. They care little if any for either and that is the truth!
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