YouTube star-turned-boxer Jake Paul took to social media to rip President Joe Biden and his voters over the weekend.
Paul, with 20.4M YouTube followers, 19.9M Instagram followers, and 4.3M Twitter followers, not only ripped the president but told voters who cast a ballot for him and do not now regret it are the biggest problem currently facing the country.
“Biden accomplishments: 1. Highest gas prices. 2. Worst inflation. 3. Plummeting crypto prices. 4. Highest rent prices ever. 5. Created new incomprehensible language,” he tweeted.
“If you’re reading this and voted for Biden and you still don’t regret it then you are the American problem,” he added.
1. Highest gas prices
2. Worst inflation
3. Plummeting crypto prices
4. Highest rent prices ever
5. Created new incomprehensible language
If you’re reading this and voted for Biden and you still don’t regret it then you are the American problem.
— Jake Paul (@jakepaul) June 12, 2022
Meanwhile on Monday, Fox Business added:
U.S. stocks tumbled across the board early Monday with the S&P 500 hitting a fresh bear market, down 20% from its January peak, as investors wrestle with rising recession fears and as bond yields climb. The 10-year Treasury yield hit 3.27% – the highest since May 2011. In commodities, oil hovered at the $119 level and gas prices $5.01 per AAA.
The Federal Reserve will begin its two-day meeting on Tuesday with a decision on Wednesday.
Key Advisors Group LLC co-owner Eddie Ghabour warned that the markets are not “anywhere close” to a bottom and said investors need to take the threat of recession “seriously” as inflation hits a new 40-year high.
The Fed is going to have to force a recession to get inflation down. This is what we’ve been warning about. This is why we have not been fully invested all year. Investors need to take this seriously. Trying to pick a bottom in this type of environment is dangerous, and I don’t think we’re anywhere close to a bottom. So they need to take these opportunities to protect their hard-earned capital before it gets a lot worse,” Ghabour told “Varney & Co.” on Friday.
If you think about all this money that went in the system over the last two years, created, in my opinion, one of the largest bubbles of our lifetime. Now they have to unwind the balance sheet, which means these bubbles are going to be popping one by one,” he continued.
“And it’s already happening. It happened in crypto first. It’s down 50 percent. NASDAQ down over 30 from its high. And you’re going to start seeing the larger cap plays do that. This market has to reset to where it was prior before we can move forward,” the investor adeed.
So that means we need to be down at a minimum of 30 percent in the S&P, in my opinion, before we can even think about being close to a bottom. And lastly, the VIX has been so tame, you do not have a market bottom when you have so much complacency. The VIX is going to 40. We’re going down at least 30 plus percent, in my opinion. And investors need to protect their capital,” he noted further.
Paul’s criticisms come as inflation has hit a 40-year high and is severely impacting the household budgets of tens of millions of Americans, but especially those on the lower end of the wage scale.
“The Labor Department said Friday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 8.6% in May from a year ago. Prices jumped 1% in the one-month period from April. Those figures were both higher than the 8.3% headline figure and 0.7% monthly gain forecast by Refinitiv economists,” Fox Business noted in a separate report, adding: “It marks the fastest pace of inflation since December 1981.”