Commentary
The Dow Jones Industrial Average on Sept. 13 was down 1,049 points in response to the latest devastating inflation report from the Department of Labor. Overall year-on-year inflation, according to the Consumer Price Index, was 8.3 percent in August, with core inflation a shocking 6.3 percent year-on-year.
According to the New York Post, “the CPI’s food index … surged 11.4%, its largest year-over-year increase since May 1979.”
But that’s hardly the only bad news in the Biden-Democrat economy. As reported by NASDAQ, “U.S. household wealth fell by a record $6.1 trillion in the second quarter to its lowest in a year as a bear market in stocks far outweighed further gains in real estate values.”…