Root declares America’s economic troubles as the ‘Great O’Biden Depression’

According to Wayne Allyn Root, “The Great O’Biden Depression” is upon us

Root’s article follows the dismal financial reports that have been released this week.

The latest figures

The Bureau of Economic Analysis has released data showing that the personal consumption index (PCE) went up by 6.6% in March 2022 from March 2021. This is the largest year-over-year gain in forty years, since 1982.

The Labor Department, similarly, released a report that showed that the consumer price index rose 8.5% in March 2022 from March 2021. That’s the fast increase since 1981.

This is bad enough as it is, and polls have indicated that it is a large part of the reason why President Joe Biden’s approval rating has been so low. But, the scary thing is that some economists believe that there is underreporting going on here and that the real numbers are much worse.

The “Great O’Biden Depression”

Root discusses the latest economic figures in his article.

“Have you seen the latest GDP (economic growth number)?” he asks. “We had NEGATIVE 1.4% growth. But that’s only the tip of the iceberg. We are experiencing massive hyperinflation. Economic experts that I trust say the real inflation number is 20% or higher.”

Root adds, “the real destruction to the economy and the middle class is -1.4% GDP plus 20% inflation. Add it up. That means the average American is experiencing a -21.4% economic decline.”

“This is ‘the Great O’Biden Depression,'” Root writes.

The Cloward-Piven strategy

Root refers to it as the “O’Biden Depression” because he believes that Biden is just the figurehead and that former President Barack Obama is running the show. Root argues that Obama through Biden is carrying out a strategy that Obama and Root both learned at Columbia University when they were there together.

Root explains:

The Cloward-Piven strategy was to overwhelm the U.S. economy with welfare and debt, causing the economy to collapse, bankrupting the business owners, making the middle class jobless, and causing everyone to panic and beg big government to save them. That would open the door for socialism.

There certainly does seem to be a lot of correlations between what Root argues and what is happening in this country under Biden’s leadership.

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