Hulk Hogan Comments on U.S. Economy Under Biden at GOP Convention

Wrestling legend Hulk Hogan, known for his iconic wrestling career, recently made a surprising and passionate speech at the Republican National Convention, addressing former President Donald Trump and current economic issues in the U.S.

Read “Hulk Hogan says America ‘had a thriving economy’ under Trump — and then ‘lost it all’ under Biden. Here are the facts’ on SmartNews: https://t.co/PfJJiCWMLp

— Robin West Smith, MA, MUP (@thewademethod) July 20, 2024

In his speech, Hogan drew a comparison between the U.S. economy under Trump and its present state under President Joe Biden. He reminisced about the Trump era, saying, “Back then we had a thriving economy, we had strong borders, we had safe streets, we had peace and respect around the world.” He expressed his dissatisfaction with the changes under Biden’s administration, stating, “But then we lost it all in the blink of an eye. Crime is out of control, the border is out of control, the price of food and gas and housing is out of control.”

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Hogan’s remarks come at a time when many Americans are feeling the effects of rising costs. According to the Federal Reserve Bank of Minneapolis, the average yearly inflation rate during Trump’s presidency was around 1.9%. However, under Biden, the inflation rate has been significantly higher, averaging 5.6% from 2021 to 2023. The inflation rate peaked at 9.1% year-over-year in June 2022, the highest in over 40 years. This spike in inflation was influenced by factors such as the economic recovery from the pandemic and global supply chain disruptions exacerbated by Russia’s invasion of Ukraine.

The fourth night of the convention was capped off by a series of speakers who revved up the GOP crowd, including conservative commentator Tucker Carlson, former professional wrestler Hulk Hogan and Ultimate Fighting Championship CEO Dana White. https://t.co/jSg4uE1JCo

— The Washington Times (@WashTimes) July 20, 2024

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To combat inflation, the U.S. Federal Reserve has implemented significant interest rate hikes since March 2022. According to the latest data from the Bureau of Labor Statistics, the headline inflation rate has subsided, with the U.S. consumer price index showing a 0.1% decline in June from May. This brings the 12-month increase to 3.0%. Despite the moderation in the rate of increase, the prices of many necessities remain elevated. For instance, the food index from the CPI has increased by 21% since January 2021, and the shelter index has risen by 22% during the same period.

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Key Points:

• Hulk Hogan spoke at the Republican National Convention, comparing the U.S. economy under Trump and Biden.
• Hogan praised the thriving economy and strong borders during Trump’s era and criticized the current state under Biden.
• Inflation averaged 1.9% annually under Trump, but spiked to 5.6% from 2021 to 2023 under Biden, peaking at 9.1% in June 2022.
• The Federal Reserve has implemented significant interest rate hikes to combat inflation, which has now moderated to a 3.0% 12-month increase.
• Despite moderated inflation, prices of necessities like food and shelter remain elevated, with increases of 21% and 22% respectively since January 2021.

Lap Fu Ip – Reprinted with permission of Whatfinger News