Cortes Investigates

Cortes Investigates

Share this post

Cortes Investigates
Cortes Investigates
The Perverse Economic Priorities of the Ruling Class
Copy link
Facebook
Email
Notes
More

The Perverse Economic Priorities of the Ruling Class

6 charts reveal the economic devastation, especially for Working Class citizens.

Steve Cortes's avatar
Steve Cortes
May 01, 2022
∙ Paid
6

Share this post

Cortes Investigates
Cortes Investigates
The Perverse Economic Priorities of the Ruling Class
Copy link
Facebook
Email
Notes
More
3
Share

The past week powerfully demonstrated the perverse priorities of the ruling class. The dreadful economic numbers shocked economists and Wall Street, causing convulsions in capital markets. Biden’s accelerating inflation surge bedevils the American economy and saps the confidence of stressed, stretched citizens. The overall growth rate of America turned negative in the first quarter of 2022, with an embarrassing -1.4% decline in overall GDP.

But the Washington War Machine nevertheless presses on with a mammoth $33 billion aid package for Ukraine, mostly military equipment simply handed over to the Kiev government. This Biden initiative intensifies the reckless Foggy Bottom/Brussels sprint toward escalation in a conflict that involves no discernable vital US national security interest.

The contrast is stark. Suffering American citizens will fund the folly of the globalist interventionists in pursuit of another Iraq, a new Afghanistan. Biden and Establishment Republicans clearly prioritize defense conglomerates over working citizens. It’s the agenda of Davos over Dayton, Ohio.

How bad is the economic situation in places like Dayton, Ohio? This chart series provides the evidence and data for the miserable economy that Biden created in just over a year in office:

CHART 1 – Inflation

The newest Inflation gauge to hit 40-year highs is the PCE, the Personal Consumption Expenditure index. The Federal Reserve’s economic staff prefers this barometer of prices as the standard for overall inflationary pressures in our country. This chart shows 50 years of history for the Core PCE, placing the current Biden-Pelosi-McConnell inflation spike in historical context. After decades of contained and predictable American inflation, we now see a Third World-style spike in prices that sends Real Wages crashing, crushing the spirits of consumers.

CHART 2 – Polling

The latest Quinnipiac University survey shows just how pessimistically Americans view their own financial situation right now. Stressed-out consumers have largely only been able to handle the Biden price spike with a huge increase in credit card debt, but that shell game can only last temporarily, especially in an era of fast-rising interest rates (more on that topic below).

As this poll reveals, a truly shockingly low percentage of Americans report that Biden has made their financial lives better, only 9%.

CHART 3 – Foreclosures

Keep reading with a 7-day free trial

Subscribe to Cortes Investigates to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Steve Cortes
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More