Biden's victory lap on inflation falls flat: TIPP/Bidenflation index rises to 17%

 This Sorry Sack of Shit is clueless on things around him. I bet if Joe let a big Fart he waould go get Ice Cream

Joe Biden was mighty proud of himself when the CPI came in at a certain level on Thursday.

According to Marketwatch:

Just in is the official White House reaction to the data, from President Joe Biden.

"This morning’s report shows core inflation fell to its lowest level in two years. Overall inflation is down by 60% from its peak at a time when unemployment has remained below 4% for 20 months in a row and the share of working-age Americans in the workforce is the highest in 20 years. That’s Bidenomics in action. I’ll continue to fight to build an economy from the middle out and bottom up—even as Republicans in Congress make reckless threats to weaken our economy, prioritize tax cuts for the wealthy and large corporations, and push for deep cuts to programs that are essential for hardworking Americans and seniors."

Bidenomics in action? I think we are all supposed to ignore those high grocery prices now and celebrate with Joe.

Feel better now?

Here's some Bidenomics in action, from TIPP Insights, the creator of the Bidenomics index:

The dark shadow of Bidenomics is 17.0% inflation under Biden’s watch. His policies are a complete and utter failure that has led to stagflation in the United States.

As for Biden's victory lap, as the TIPP Insights editorial board put it:

[Biden's claim] was only partially correct for three reasons:

• Presenting a decrease in core inflation from 4.3% to 4.1% as a significant ‘victory’ without acknowledging the role of the base effect is dishonest, as it overlooks a crucial factor affecting the comparison of inflation rates.
• See the chart below. Core prices rose by 0.23% from August to September 2023. The base readings from August 2022 to September 2022 saw a bigger increase of 0.43%. This substantial base increase creates the illusion of reduced inflation in September, even though underlying inflation remains steady.
• Furthermore, on a seasonally adjusted basis, the August to September core increase of 0.3% is higher than the 3-month average of 0.27%, indicating an acceleration. (Please see the chart towards the end of this article.)

Put more simply. Biden wasn't counting from the time he entered office to the current reading on CPI, or, inflation. That's where the 17% comes from, and there are numerous charts on that on the TIPP site.

He was cooking the numbers from a month ago, or a year ago, to get the low numbers he wanted to claim credit for, as if inflation weren't still raging through the system from the earlier part of his presidency like some gnarly rooted thing that, though cut down, still had the energy to keep sending out shoots.

TIPP Insights has the most realistic picture of how Bidenflation is going and it's a nasty picture, well truer than the Biden gaslighting that it's all in our heads. It comes much closer in consumer impact to Hanke's Misery Index, which focuses on how economic indicators hit normal people rather than the full macro picture, and once again, describes a failed economic policy.

One good chart to view on a slew of such charts on the site is here:

https://www.americanthinker.com/blog/2023/10/bidens_victory_lap_on_inflation_falls_flat_tippbidenflation_index_rises_to_17.html

https://www.americanthinker.com/blog/2023/10/biden_fails_murdered_americans.html