After bragging just four weeks ago that the economy had "zero percent inflation" in the month of July (looking at cherry picked month-over-month figures which completely ignored the highest food price inflation since 1979), President Biden issued yet another insultingly stupid statement in response to Tuesday's extremely hot CPI print which sent markets into turmoil and rate hike expectations shooting higher.

And so just minutes after markets began puking in response to today's CPI, Biden claimed that "Today's data show more progress in bringing global inflation down in the US economy," adding "Overall, prices have been essentially flat in our country these last two months."