Nolte: Bloomberg Says Biden Surge In Gas Prices ‘Isn’t as Painful as It Looks’

The billionaire Bloomberg propaganda outlet wants us to know that “The Surge in Gas Prices Isn’t as Painful as It Looks.”

That’s the actual headline over there.

The reasoning? Get this: “Fuel expenditures aren’t taking up a greater share of consumer spending than they normally do.”

So what the hell are y’all whining about?

You’re spending less of your income on gas!




This is all they got:

It’s time to take a collective breath. Despite all the complaining about the cost to fill up, gasoline is no bigger a portion of household expenditures than it has been historically. The strategists at RBC Capital Markets ran the numbers and found that current fuel expenditures amount to 3.5% of total consumer spending, compared with an average of 3.6% in monthly data going back three decades.

Here’s another way to think about this: The previous high in gasoline prices was around $4 a gallon in 2008, or $1 lower than they are now. But back then, gasoline expenditures accounted for 4.5% of spending, enough to lead to what the RBC strategists described as “demand destruction.”

Oh, I’ve been such a fool!

I feel so much better now!

How out of touch and dishonest, not to mention desperate, does one have to be to spin crippling energy prices as a good thing?

Here’s the kicker… “gasoline prices are soaring and demand is falling, and yet total miles driven is not diminishing.”

First off, that sounds a tad counterintuitive to me. So, in just a few years, everyone purchased cars that get better mileage? But let’s assume that’s accurate. Imagine spending all that money on a new car to save money on fuel, and you’re not saving money on fuel. Why? Because His Fraudulency Joe Biden shut down domestic energy production and exploration, knowing outlets like Bloomberg would shield him with gaslighting pieces like this one.

President Joe Biden’s administration ceased all oil and gas leases to Alaska’s Cook Inlet and the Gulf of Mexico as of the night of Wednesday, May 11, 2022. (iStock, Anna Moneymaker/Getty Images, BNN Edit)

Who cares what your mileage is?

Who cares what percentage of household income blah, blah, blah…

Before Hunter’s Dad took over, it cost $35 to fill your tank. Now it costs closer to $80.

That is money out of your pocket, not to mention demoralizing. And I’ll tell you something else, if you are living paycheck to paycheck, if you are trying to save for a house or a car with better mileage or thinking about doing some remodeling or putting a little money away, that bite at the pump hurts. That $35 to $40 feels like it’s being flushed right down the toilet. It might not feel that way to wealthy Bloomberg writers who are oh-so-sophisticated enough to pooh-pooh this horror by mixing elbow patches and slide rules, but to a working man, it’s brutal—no, it’s beyond brutal. It’s demoralizing.

Focused senior husband and wife sit at table at home look at laptop screen pay bills taxes online. Concentrated mature man and woman couple make internet payment on computer, manage finances

Husband and wife pay bills, taxes online. (Getty)

I know, I know… But I’m going to say it anyway… Can anyone imagine a so-called news outlet trying to silver line five-freakin’-dollar-a-gallon gas if a Republican was president?

Can you imagine me, a proud right-wing extremist like me, doing it if Trump were in office?

Of course not.

You know why?

First off, I’m not a sociopath without empathy.

Second, I’d be laughed off the planet.

The desperation of this kind of spin is, though, a very good thing. All they got is gaslighting. All they got is, Hey, it’s not that big of a deal. Stop being hysterical. Your eyes and wallet and budget are lying to you. High gas prices are a good thing, dummy! Doesn’t your car run on cake? 

I cannot wait for November. 

Follow John Nolte on Twitter @NolteNC. Follow his Facebook Page here.


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