The Transitory Inflation Narrative Strikes Back And The White House November 2021 Double-Down: “families have seen an increase in real disposable income, and stores and restaurants have the supplies”

“…focused on growing our economy and bringing prices down for American families by…”

(by Half Dollar) Recall that earlier this month, Biden said that “wages have gone up higher, faster than inflation”.

According to the Federal government’s own data, however, wages have not.

Though not to be one-upped, or outdone, or something, the White House is doubling-down.

Indeed, from Tuesday, November 16, in a statement by the Director of the National Economic Council (statement via whitehouse.gov, bold added for emphasis and commentary):

NOVEMBER 16, 2021

This morning, we learned that Advance Retail Sales increased above expectations in October and now are 16 percent higher than this time last year. Sales at restaurants and bars are up more than 29 percent compared to this time last year and more than 9 percent compared to pre-pandemic levels. In addition, retailer stores are benefiting from healthy sales numbers. And this morning, Walmart, the nation’s largest grocery and retail store, reported that it will have enough products to meet consumer demand over the holiday season.

So, over the last 18 months and rapidly approaching two years, countless restaurants have closed, many have limited their hours of operation, have stopped the dine-in feature of their businesses, have raised prices, have cut back on the quality and quantity of ingredients used in menu items, or have done even worse, and yet, the Biden Administration is acting as if sales being up more than 9% compared to pre-pandemic levels is a good thing?

It would be funny:

But it’s not.

Continuing, from Brian Deese’s statement (bold added for emphasis and commentary):

In short, families have seen an increase in real disposable income, and stores and restaurants have the supplies to drive this recovery. Today’s data show that even as we work to address the real challenge that elevated inflation from supply chain bottlenecks poses for Americans’ pocketbooks and outlook, the economy is making progress. Going forward, the Administration remains focused on growing our economy and bringing prices down for American families by tackling COVID-19, addressing supply chain challenges through implementation of the historic infrastructure package signed into law yesterday, and passing the Build Back Better Act which will boost the productive capacity of the economy and address key costs for middle-class families, including health care, housing, child care, and elder care.

Do I really need to translate that?

Developing…