CNBC’s Cramer Claims Biden’s Economy Is the Best Ever

BUCK: So what happens when you print more money? This is really straightforward stuff. Isn’t it Econ 101? What happens when the government decides to rev up the printed presses even more when you’re already $28 trillion and change in debt, and you shut down your economy for months at a time, and you print and print and print more money, right? What is the end result of all this?

Well, on one hand it’s pretty clear it’s supposed to be inflation. But when Democrats are in charge, I think you need to understand, folks. All across the country, you need to hear this. When Democrats are calling the shots, the laws of economics — in fact reality itself — are suspended. What you thought you knew you no longer do. They have an entirely different set of circumstances to operate under — and in fact, if you think not only inflation, which is — Clay, correct me if I’m wrong — the worst in 40 years inflation, highest price increase, 6.2%, since 1982; is that right?

CLAY: I think it’s 6.8%.

BUCK: 6.8%. There we go.

CLAY: Yeah. It was 6.2%, I think, last month, but now it’s all the way up to 6.8%.

BUCK: So that’s what’s actually going on. Meanwhile, we have the guy who runs the show over at CNBC with all the noises and the honk-honk and buy-sell and all that stuff, Cramer, he is actually —

CLAY: (laughing) He has lost his mind lately.

BUCK: He is actually the one who wants us to use —

CLAY: Yes.

BUCK: — the military to enforce a universal vaccine campaign in this country. Let’s understand, anyone who wants that actually wants the military to enforce a universal and now perpetual vaccine campaign unless there’s some breakthrough or something changes. But here’s Cramer on the economy which he’s actually supposed to know something about. Here he is saying the best economy ever.

CRAMER: What we see for 2022? What’s the outlook? All right. First of all, to me we have the strongest economy perhaps I have ever seen! See the number this morning, the unemployment number? It’s the best since ’69! We have all spotted the endless help wanted signs, the housing department shortages, the tremendous demand for goods and services — a marvel to behold. Oh, people are confident about their jobs. I say fantastic — and the ability to get better ones if they want to. They’re spending more than I’ve ever seen, but they’re doing it with cash, not on credit. They’re doing so in a Roaring Twenties style. But there’s nothing to tell you about.

BUCK: The Roaring Twenties?

CLAY: Was he talking that fast or was that sped up?

BUCK: We’re in the Roaring Twenties, Clay, we just don’t know it yet.

CLAY: Look, here is what we do know, Buck. there’s lot of people out there listening to us right now there are seeing this impact every single day. Inflation up 6.8%, as you said, the largest increase since 1982. Gas prices up — here’s just a few — up 58% since last year. Rental cars. I know a lot of people traveling for the holiday season. I’ve had to rent a car. I couldn’t believe what rental cars cost. Up 37%. How about if you’re trying to buy a used car, Buck?

Since last year, used car prices up 31%. Staying in a hotel to go visit family for the holidays, up 26%. Utilities, 25%. Bacon, pork, 21%, 17%. Everything, everything is up massively, and people feel it. Every time I stand at the gas pump, I can’t believe what the final number is. I really can’t. I know you don’t have to fill up the scooter but I’m telling you, Buck.

BUCK: (laughing)

CLAY: (laughing) When you’re standing there with the gas pump in your hand and you watch that number keep going up, these are numbers that I’ve never seen before to fill up a car. And I know a lot of people out there listening to us right now know exactly what I’m talking about. And it’s not going away. This is a tax on people who have the least amount of money to be able to save. Inflation is a tax on the poor. Rich people don’t notice when prices go up 6 or 7% ’cause they got plenty of money.

BUCK: They can pour money into the stock market. If you own property, rental prices can be raised, right? So if you’re an owner, you have assets. the inflationary effect on the economy is much less painful for you on top of, obviously, just having more to begin with, so you see less. But for people who are earning wages, paying their bills, trying to just get ahead of things a little bit, think of it way: If you just put your money in a savings account, each year you’re losing a nice chunk, unfortunately, of what you’re saving —

CLAY: Yes.

BUCK: — and that’s every year, folks, with the current inflation rate.

CLAY: Buck, an 8% return — as you well know — in the stock market is considered a pretty good year, right, 8, 9% on average historically. S&P 500 index funds, that’s around what they go up. You’re now… If you make 8%, right, which is a really good year, you’re basically break even at a 6.8% inflation rate. But at least you have the ability — if you have assets — to be making money.

For people out there who are living paycheck to paycheck, who basically are living off what they’re making, and that is the vast majority of Americans, the Joe Biden economy… We just played that Jim Cramer clip. What’s particularly noxious, I would say, about that Jim Cramer clip from CNBC is this comes on the heels — did you see this report, I don’t even think we even talked about it on the show) — that the Biden White House is meeting with media —

BUCK: Oh, yes.

CLAY: — to get them to cover the economy in a better way, right? To basically propagandize them.

BUCK: I talked about this on the Buck Sexton podcast first thing in the morning yesterday, Clay, and I meant to bring it up here on the radio show because it’s amazing to see the level of desperation that exists with this Biden White House. When you’re the Biden White House and your go-to is, “Hey, media? You’re not friendly enough to us on the economy,” you’re basically telling them, “We’re gonna get annihilated in the midterms unless you start openly lying to people as much as you can possibly get away with.”

You can’t change the inflation number, right? But you gotta say things like, “Well, yeah, maybe inflation is really high, but this isn’t just a good economy. This isn’t just a good recovery. It’s the best economy we’ve ever seen! It’s amazing. You don’t even know how great this is.” That level of propaganda feels very Soviet or perhaps feels very Baghdad Bob with explosions going on around him.

But that’s what they’re going to need because otherwise — to your point about what is it about gas prices — people see it and feel it. What is it about inflation? People at the grocery store, they realize, “Hold on a second. I’m used to spending 50 bucks when I go, 40 bucks when I go, and I just spent 8, 10, 12, 15, 20% more.” People notice that.

CLAY: A hundred percent they do, Buck, and people also notice that when they’re selling, “Hey, this is the greatest economy ever,” no, no, no. The greatest economy ever was Donald Trump in February of 2020 before we shut down the economy. We’re still not back or even close to back to where we were in February of 2020. That he was the greatest economy in the history of the United States that Donald Trump had constructed.

All Joe Biden is doing is trying to get us close to back where Donald Trump had us in February of 2020, and this propagandizing, this idea that the economy is stronger than it’s ever been before? It’s a lie, the American public sees through, and it’s a sign of how desperate the Biden White House is to try to convince all of us that what we’re seeing is not the reality.