President Joe Biden walks along the West Colonnade, Monday, November 29, 2021, to the Oval Office. (Official White House Photo by Adam Schultz)
Pat Buchanan is on the right track as usual. He writes:
Since the Dow Jones Industrial Average and S&P 500 reached record highs in January, both have seen eight weeks of wipeouts of trillions of dollars in value as we approached bear-market territory by the end of last week.
Stock portfolios, pensions and retirement benefit plans have been gutted. These massive market losses are also a lead indicator pointing to a recession right ahead, just as voters pass judgment on a Democratic Party that controls the White House and both houses of Congress.
But even before we reach recession, Americans have already been living with a Biden inflation of 8% that has lasted for months and affected all the necessities of normal life, such as groceries and gasoline.
As for the crisis on the southern border, it is deeper than ever. Some 234,000 migrants were caught illegally entering the U.S. in April alone, with thousands of others evading any contact with U.S. authorities.
This is an invasion rate of some 3 million illegal migrants a year.
Shootings, killings, carjackings, criminal assaults, and smash-and-grab robberies in record numbers are the subject of our nightly news.
And the latest national polls suggest the country is holding Biden responsible. The president’s approval rating is down to 39%, and only 1 in 3 Americans think he is doing a good job handling the economy and that the nation is headed in the right direction.
Pat Buchanan
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