Recession? We Don't Have No Stinking Recession!

If you are foolish enough to listen to Clueless Joe and his progressive puppeteers you have heard them claim that there is no inflation. Nope. Nada. Zip. Nothing like that around here, Jack. Everything's copacetic, hunky-dory. No inflation, so just move on.

Biden keeps saying that the economy is great. Matter of a fact things have never been so good! His press secretary says, "This is one of the strongest job markets that we have seen on record." So there!

Well then, how come ABC News has reported on new government data which states "a hotter-than-expected inflation report." That inflation news has "pummeled the stock market and punctured hopes of relief for strained households," ABC reported. New government data showed that prices rose last month, worsening the cost woes for consumers.

While prices are rising in nearly every sector, some products have experienced more significant price spikes than others. For example, at the grocery store prices have skyrocketed. The price of eggs is up nearly 40% from where it stood last August; while the price for margarine trails close behind, having jumped 38% over that time, according to the consumer price indexreleasedby the Bureau of Labor Statistics.

And while the prices of eggs and margarine (and butter, too) have risen dramatically, the costs of other breakfast items have also spiked.

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The price of roasted coffee is up almost 19% over a year prior; while the price of milk has jumped 17% over that time. The price of flour has leapt a staggering 23% since last August, sending prices up for desserts and other baked goods. And not let's not forget our furry friends. The price of pet food has gone up 13% since a year ago.

Omar Sharif, founder and president of research firm Inflation Insights, not the actor from Doctor Zhivago, told ABC News, "We haven't been in a situation in a long time where the entire cost structure of operating your business has gone up at the same time. Given the inflationary environment, it's a lot easier to pass these costs along to your consumers."

After the market maybe you'd like to take a little ride in the car. Oops, the cost of gas remains about 25% higher than it was a year ago. The cost at the pump for diesel fuel has worsened even further over the last year. A category of prices called "other motor fuels" — which includes diesel and alternatives like ethanol — skyrocketed 53% since last August. No inflation, right Clueless?

Oh, but the job picture must be in good shape, I know it is because Clueless Joe told me so. Last week Biden said "We passed the American Rescue Plan, which lifted this nation from economic crisis to economic recovery. Nearly 10 million more jobs have been created since I've been President — the highest number of jobs in that period of time of any President of the United States of America. We have a 3.7 percent unemployment rate, the lowest in 50 — more than 50 years; a record number of new — record number of new small businesses created; and over 668,000 new manufacturing jobs in America."

Wow! Jobs must be secure, hiring must be a an all time high! Okay, now let's get back down to planet Earth for some reality. Meta, the company formerly known as Facebook, has recently said it plans to cut expenses by at least 10 percent in the coming months, in part through staff reductions.

Google is looking at similar cuts, with CEO Sundar Pichai characterizing it as "being a bit more responsible through one of the toughest macroeconomic conditions underway in the past decade." Twilio has announced plans tolay off 11 percent if its workforce, and Snap has announcedplans to lay off 20 percentof its workforce.

And many big companies outside of the tech industry are announcing the elimination of executive positions. The Gap is eliminating 500 corporate jobs. Boeing has announced that it willeliminate about 150 positions in finance and accountingin October. Last month,Walmart announced that it would eliminate 200 corporate jobs. FedEx is starting a hiring freeze and closing more than 90 FedEx locations.

Investment bankers are feeling the pinch. Goldman Sachs has begun laying off workers across the country, nearly a dozen bankers in the prestigious technology, media and telecommunications division alone. Consumer retail, health care and industrials divisions have also been hit by layoffs, the report adds, with more to come.

The real estate industry is not immune either. RE/MAX, Redfin, and Wells Fargo have announced layoffs in recent months totaling thousands of jobs as the US is experiencing a worsening housing shortage.

Electricity and heating costs will be going up this winter. The U.S. Energy Information Association calculates that the average price of electricity for residential consumers is up 7.5 percent from last year: The average cost of home heating is estimated to increase by 17.2 percent since last winter heating season, from $1,025 to $1,202. This would be the second year in a row of major price increases. Between 2020-21 and 2021-23, the cost of home energy would increase by more than 35 percent, the highest prices in more than 10 years.

C'mon, man! There's no inflation! You must be listening to those MAGA terrorists who are destroying our country. Just listen to ol' Joe. He'll set ya straight.

This economy has never been better, Jack!

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