Monthly Inflation and JOBS

GURPS

INGSOC
PREMO Member
The jump in overall CPI is “the largest 12-month increase since a 5.4-percent increase for the period ending August 2008,” the Department of Labor reported. The index for core CPI “rose 3.8 percent over the last 12-months, the largest 12-month increase since the period ending June 1992.”

Experts are still unsure of when inflation may slow. Inflation rates are expected to stay high throughout the summer as demand returns after taking a long hiatus during the pandemic. Prices are also rising again after diving at the onset of the pandemic and widespread lockdowns last year. The return to normal pricing levels after the artificial drop is known as the base effect, and experts are still unsure of how much inflation is driven by the effect and how much is due to economic malaise driven by government policies.

Multi-trillion dollar aid packages as well as trillions of dollars more in loans from the Federal Reserve are expected to push prices high, however, as that money works its way into the U.S. economy, drastically expanding the money supply.

 

GURPS

INGSOC
PREMO Member
Deutsche Bank Issues a Terrifying Warning for America Under Biden


“Few still remember how our societies and economies were threatened by high inflation 50 years ago,” David Folkerts-Landau, Deutsche Bank chief economist and head of research, wrote in a paper co-written by his colleagues Jim Reid and Peter Hooper. ” The most basic laws of economics, the ones that have stood the test of time over a millennium, have not been suspended. An explosive growth in debt financed largely by central banks is likely to lead to higher inflation.”

“We worry that the painful lessons of an inflationary past are being ignored by central bankers, either because they really believe that this time is different, or they have bought into a new paradigm that low interest rates are here to stay, or they are protecting their institutions by not trying to hold back a political steam roller,” Folkerts-Landau added. “Whatever the reason, we expect inflationary pressures to re-emerge as the Fed continues with its policy of patience and its stated belief that current pressures are largely transitory.”

The authors warned that “neglecting inflation leaves global economies sitting on a time bomb.” They noted similarities between the 1970s and today.

“Rising oil prices could compound any consumer-driven inflation. Indeed the price of oil has haunted the Fed before. A series of oil shocks contributed to the ratcheting up of inflation during the 1970s, but the Burns Fed chose to focus more on the CPI excluding oil. Then it excluded surging food prices and the idea of ‘core’ inflation took shape. Subsequently, more and more items were excluded. Eventually, however, the Fed recognised that all the supposed transitory sources of inflation had spread everywhere and double-digit inflation had leaked into the ‘core’,” Folkerts-Landau wrote.
 

GURPS

INGSOC
PREMO Member
Inflation’s Here, Getting Worse, And Could Last Longer Than COVID-19 Pandemic



Give credit to the Washington Post’s Heather Long, who tweeted this:
What costs more now? It’s murky to compare to May 2020, but people still feel these increases.
Car rental 110% (y/y)
Gas 56%
Used cars 30%
Laundry appliances 27%
Airfares 24%
Auto insurance 17%
Moving 16%
Bacon 13%
Hotels 10%
Furniture 9%
Bikes 10%
Whole milk 7.2%
Clothes 6%
So this sudden surge of inflation means that working men and women are actually earning less in inflation-adjusted terms since last year, despite working more hours.

As most economists rightly note, inflation once entrenched isn’t easily eliminated. It tends to hang around. Anyone who was an adult in the 1970s can tell you how pernicious and persistent the rise in inflation was.
 

GURPS

INGSOC
PREMO Member
A Terrifying Omen for America Under Biden Gets Even Worse

The personal consumption expenditures (PCE) index rose 0.4 percent in May, slightly less than the 0.5 percent increase economists predicted, MarketWatch reported. Over the past year, consumer prices have shot up 3.9 percent, reflecting the biggest gain since 2008 when oil prices hit a record high of $150 per barrel.

This PCE number is double the Federal Reserve’s 2 percent goal, but officials have downplayed the increase. Fed leaders argue that prices will lower next year as the economy returns to normal, most people go back to work, and widespread shortages of labor and supplies fade away.

The core PCE price index, the Fed’s preferred measure of inflation, rose 0.5 percent in May, hitting 3.4 percent, above the 3.1 percent April figure.

As The Wall Street Journal reported, the Commerce Department’s 3.9 percent inflation measure represents a smaller leap than the 5 percent jump in the consumer-price index (CPI) the Labor Department reported earlier this month. CPI typically runs higher than the PCE index, yet both measures rose significantly in the past year.
 

GURPS

INGSOC
PREMO Member
Democrats Are Getting Angry at Obama Economic Advisor for Inflation Warnings


Summers met with Biden yesterday and said in an interview afterward that he is even more concerned now than when he first sounded his alarm in February.

“These figures and labor market tightness and the behavior of housing markets and asset prices are all rising in a more concerning way than I worried about a few months ago,” he said in an interview on Tuesday. “This raises my degree of concern about an economic overheating scenario. There are huge uncertainties in the outlook, but I do believe the focus of concern right now should be on overheating.”

Biden’s people tried to put lipstick on the pig — not very convincingly:

“All of these data points need to be put into the context of an economy that is recovering rapidly as the U.S. is leading the world in terms of growth,” a senior administration official said of the latest inflation figures.

Another White House official said there’s nothing to see here. Move along.
 

GURPS

INGSOC
PREMO Member
It's Official: The Fed Has No Clue What's Going On or What It's Doing




Powell admitted that inflation will likely “remain elevated in coming months,” despite the fact that Powell’s job is to protect the value of the dollar.

Of course, Powell can only do so much, and despite its enormous powers, the Fed can’t stop Biden from purposely driving up energy prices, nor does it hold any sway over Congress’ pursestrings.

But Powell is living in dreamland — or lying to Congress — when he said he expects inflation to “moderate” sometime after the “coming months” end.

Or maybe he’s just being vague on purpose.

But Powell does have a sledgehammer in the Fed’s toolbox capable of smashing inflation: the power to set interest rates.

Higher interest rates could cool off the overheated housing market, add a touch of sanity to car-buying decisions during the ongoing chip shortage, and suck some of the speculators out of the overvalued equities markets.
 

LightRoasted

If I may ...
If I may ...

It's Official: The Fed Has No Clue What's Going On or What It's Doing
Powell admitted that inflation will likely “remain elevated in coming months,” despite the fact that Powell’s job is to protect the value of the dollar.

Of course, Powell can only do so much, and despite its enormous powers, the Fed can’t stop Biden from purposely driving up energy prices, nor does it hold any sway over Congress’ pursestrings.

But Powell is living in dreamland — or lying to Congress — when he said he expects inflation to “moderate” sometime after the “coming months” end.

Or maybe he’s just being vague on purpose.

But Powell does have a sledgehammer in the Fed’s toolbox capable of smashing inflation: the power to set interest rates.

Higher interest rates could cool off the overheated housing market, add a touch of sanity to car-buying decisions during the ongoing chip shortage, and suck some of the speculators out of the overvalued equities markets.
Oh yes they do. They absolutely know what they are doing. Do not let them fool you

Inflation is essentially a tax on EVERYONE.
Lower the value of a dollar, you take money from every dollar in existence.
Last I remember is that only Congress has to power to tax. And yet, The Federal Reserve private business banking cartel is in fact taxing us making us work harder and longer by reducing the purchasing power of our fiat funny money through the gross incompetence or supportive and subversive government allowing the unchecked expansion of the money supply.
 

SamSpade

Well-Known Member
If I may ...


Oh yes they do. They absolutely know what they are doing. Do not let them fool you


Last I remember is that only Congress has to power to tax. And yet, The Federal Reserve private business banking cartel is in fact taxing us making us work harder and longer by reducing the purchasing power of our fiat funny money through the gross incompetence or supportive and subversive government allowing the unchecked expansion of the money supply.

And that is just it. To my knowledge, the U.S. economy is about 20-22 trillion per year.
You cannot spend all or MORE than that in a year and claim "oh it is only going to come from people making over 400k a year".
You can't get that kind of money from them, and if you can, you'll find you've cooked the goose laying the golden eggs - they will LEAVE. With their money.

No, the most straightforward way to that kind of money is to just PRINT it. Which means if you have a million in your retirement? The Dems essentially just took half of it by erasing its purchasing power. You don't have to be rich - they can take your life savings just like that.
 

Hijinx

Well-Known Member
Inflation> It's what the Democrats voted for.

Biden didn't say mucjh out of his basement, but what he did say was that we would get higher taxes , Freebies, Illegals, and all adding up to inflation.
 

SamSpade

Well-Known Member
By printing money - they're effectively emptying your pensions and savings. If you thought you could live comfortably on your future salary in retirement, consider you'll be pulling about half that, now.

Of course, they also want to tax WEALTH - not earnings but the actual wealth you have - and they want to tax you heavily if you want to leave the country.
 

LightRoasted

If I may ...
If I may ...

No, the most straightforward way to that kind of money is to just PRINT it. Which means if you have a million in your retirement? The Dems essentially just took half of it by erasing its purchasing power. You don't have to be rich - they can take your life savings just like that.
One of the many reasons why the federal income tax is not needed, other than to keep people down and working more. Since the Federal government can have money printed for them anytime for any amount.
 

GURPS

INGSOC
PREMO Member
Biden Says ‘Experts’ Believe Inflation Is Only Temporary


“Our experts believe and the data shows that most of the price increases we’ve seen were expected and are expected to be temporary,” asserted Biden. “Reality is you can’t flip the global economic light back on and not expect this to happen. As demand returns, there’s going to be global supply chain challenges.”

“That’s a real challenge,” Biden added. “My administration is doing everything we can to address it. But, again, these disruptions are temporary.”

“I want to be clear. My administration understands if we were to experience unchecked inflation over the long-term, that would pose a real challenge to our economy. So, while we’re confident that isn’t what we’re seeing today, we’re going to remain vigilant about any response that is needed.”
 

rmorse

Well-Known Member
Biden Says ‘Experts’ Believe Inflation Is Only Temporary

“Our experts believe and the data shows that most of the price increases we’ve seen were expected and are expected to be temporary,” asserted Biden. “Reality is you can’t flip the global economic light back on and not expect this to happen. As demand returns, there’s going to be global supply chain challenges.”

“That’s a real challenge,” Biden added. “My administration is doing everything we can to address it. But, again, these disruptions are temporary.”

“I want to be clear. My administration understands if we were to experience unchecked inflation over the long-term, that would pose a real challenge to our economy. So, while we’re confident that isn’t what we’re seeing today, we’re going to remain vigilant about any response that is needed.”

tRuSt ThE eXpErTs
 

vraiblonde

Board Mommy
PREMO Member
Patron
:roflmao:

"Our" experts...

:lmao:

THE experts have been saying that no inflation has ever been temporary. Like, ever. Any dummy can look at the historic price of things and realize that. Gas may fluctuate a bit but in the late 70s it fluctuated between 75-cents and $1 a gallon. We will never be able to buy gas for that price again. We will never be able to buy a brand new 3 BR home for $20k. Nor will we ever be able to buy a brand new car for $2500. Bread will never again be 50-cents a loaf.

Biden is still cognitively aware enough to know that he's a lying dog face pony soldier ( :jet: ) . But Democrat cult members are dumber than that pony soldier's dookie because they gobble up the lies and beg for more.
 
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