WATCH: Biden Claims Inflation Is Down—Here Are The REAL Numbers

Joe Biden wants to paint this rosy picture of a prosperous and booming economy, yet widespread reports and the experience of the average American tell a different story.

Wholesale inflation, the price businesses pay to acquire goods and services to provide consumer products and services, rose sharply during April.

This is yet another sign that interest rates will continue to remain high, while the Federal Reserve attempts to wrangle the stubborn inflation brought on by massive monetary printing during the Covid era.

Whether or not these attempts to control inflation will work remains to be seen, but I just want to put our currency problem into greater perspective.

It took 200 years for the U.S. national debt to cross the $1 trillion threshold. The U.S. government is now adding $1 trillion in debt every three months. This is a fundamentally unsustainable situation.

The inflation could be mitigated in the short term by becoming a leading exporter of light crude oil again. Still, almost nothing can be done to fix the broader, long-term, systemic issues that plague the U.S. dollar.

My feelings are that the U.S. dollar system will collapse sooner or later because the government refuses to cut spending by 90% or more and practice fiscal responsibility. Here’s more on the story:

CNBC: Wholesale inflation rose MUCH more than expected in April.

That's Bidenomics! pic.twitter.com/NbVUyS3zVP

— RNC Research (@RNCResearch) May 14, 2024

BREAKING: April PPI inflation RISES to 2.2%, in-line with expectations of 2.2%.

Core PPI inflation was 2.4%, in-line with expectations of 2.4%.

PPI inflation is now up for 3 straight months for the first time since April 2022.

Yet another sign the Fed can't cut rates.

— The Kobeissi Letter (@KobeissiLetter) May 14, 2024

The Epoch Times reports:

The producer price index (PPI) rose 0.5 percent last month, up from negative 0.1 percent in March, according to the Bureau of Labor Statistics (BLS). This topped the consensus estimate of 0.3 percent.

Compared to the same time a year ago, the PPI rose to 2.2 percent, up from 1.8 percent.

This was in line with economists’ expectations and represented the highest reading since April 2023.

“PPI and wholesale energy inflation are once again hot hot. Inflation was never going to be transitory.

Easy money, mass spending, and unfathomably large COVID giveaways have resulted in the largest transfer of wealth in American history. The rich get richer, the poor get poorer.

The underlying economic conditions overly favor the incumbent wealthy (those with appreciating assets) more than the working class and those just starting to climb the financial ladder.

Younger Americans are getting screwed right at the starting line. If you want to sow the seeds of societal chaos, just make sure the next generation doesn’t have a stake in it,” Charlie Kirk said.

PPI and wholesale energy inflation are once again hot hot. Inflation was never going to be transitory. Easy money, mass spending, and unfathomably large COVID giveaways have resulted in the largest transfer of wealth in American history. The rich get richer, the poor get poorer.…

— Charlie Kirk (@charliekirk11) May 14, 2024

🚨Inflation is not going away. This is not good. Producer Price Index PPI up 0.5% in April, when expected up 0.3%, “core” PPI, up 0.5% also, when expected up 0.2%.

Where is Joe Biden?
Where is Jerome Powell?
Where is Janet Yellen? pic.twitter.com/9kLZXybLIp

— AJ Huber (@Huberton) May 14, 2024

According to CNN:

On Tuesday, Fed Chair Jerome Powell said readings like the April PPI provide more justification to keep rates elevated for a longer period of time.

But it does not necessarily mean the central bank will need to raise interest rates, Powell said while speaking at a Foreign Bankers Association event alongside European Central Bank Governing Council member Klaas Knot.