A top Obama official issued one warning that left Joe Biden quaking in his boots

Joe Biden’s regime is on the verge of collapse.

One problem could be all it takes to bring down his house of cards.

And a top Obama official issued one warning that left Joe Biden quaking his boots.

Joe Biden created one disaster after another on his way to running the economy into the ground.

After the second quarter GDP numbers were released, Biden crossed the last grim economic milestone of his Presidency.

With negative economic growth for the second consecutive quarter, the country officially entered the Biden recession.

Of course, Joe Biden and his allies in the corporate-controlled media furiously began trying to redefine the definition of a recession.

According to Biden, the devastating GDP number was a sign that the Federal Reserve was doing its job to bring down inflation.

But a leading economist and former Obama official just delivered a dire warning on where the economy is headed.

Mohamed A. El-Erian served as the chair of Barack Obama’s Global Development Council and had a decorated career on Wall Street.

During an appearance on CNBC reacting to the GDP numbers, El-Erian revealed the true state of the Biden economy.

“In terms of what we’re seeing in the data, whether it’s the GDP number, whether it’s the jobless claim number, it’s an economy that’s weakening at a much faster rate than most people expected,” El-Erian explained. “That’s the bottom line.”

Despite the rosy claims by Biden on the state of the economy, it’s even clear to former Obama officials that it’s going down the tubes.

“Whether we’re in a recession or not is not as interesting as we’re weakening really fast,” El-Erian said.

After GDP ended the 4th quarter of 2021 up 6.9%, the economy is in a tailspin to start this year with negative growth.

While Biden claims that the economy slowing down is a sign that the Fed is doing its job, El-Erian warned that inflation isn’t going away.

“Inflation is not going to come down fast enough given how fast the economy is weakening and that’s going to put the Fed in the same dilemma it’s been in,” El-Erian said. “I think the bottom line is we’re not out of stagflationary forces yet.”

The Fed raising interest rates won’t bring down inflation fast enough, leaving the economy in a world of pain as higher interest rates cripple economic growth.

Stagflation, which is high inflation combined with a slumping economy, was last seen during the 1970s under Jimmy Carter.

“I hope [the Fed] focuses on putting the inflation genie back into the bottle. I think the worst outcome is that next year, we are in a recession and inflation has proven very sticky,” El-Erian continued.

A recession combined with rampant inflation continuing into next year would spell the end of the line for Joe Biden’s failed Presidency.

Renewed Right will keep you up-to-date on any new developments in this ongoing story.