Biden’s Blunders Continue. Billionaire CEO Says Brace Yourself For Food Shortages Thanks To The President’s Ineptness. 

President Joe Biden meets with Abu Dhabi's Crown Prince Mohammed bin Zayed Al Nahyan Saturday, July 16, 2022, in Jeddah, Saudi Arabia. (AP Photo/Evan Vucci)

CEOs of successful hedge funds can anticipate what will happen to world markets based on the decisions made by politicians, and BlackRock boss Larry Fink is increasingly worried about the hole Joe Biden is putting the country in. 

He said Americans should not be fooled by the 52-cent drop in gas prices or by Biden’s grandstanding tour of the Middle East that accomplished nothing. Inflation pain has only begun.

That message was echoed by John Catsimatidis, the CEO of United Refining Company, who told Fox Business this regarding what is on the horizon for Americans regarding food. 

“You need optimism from the White House point of view to the American people because everything that’s been done lately has hurt the American people and helped the rest of the world. There is a problem in food prices that could happen as interest rates go up, as there will be shortages of certain products.”

Catsimatidis added that he believes a full-blown recession could be avoided: if Biden and his administration were forward-thinking enough to handle interest rates strategically and intelligently. The words “forward thinking” and “Biden” have not found themselves joined together before, so this is a long shot, most likely. 

“My opinion is they should delay increasing interest rates before they destroy the real estate industry and other industries in the United States with high interest rates.”  His suggestion is to avoid raising rates for 1-3 months, allowing food prices to stabilize and inflation not to get out of hand.  

As for Biden’s trip to Saudi Arabia? Nothing short of pathetic, according to the CEO. 

“My criticism about President Biden is he should have went to Texas, he should have went to Alaska, he should have went to Canada. He would have gotten more results in oil than he did in Saudi Arabia.”

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