And they actually want to get some nutrition out of the food instead of sawdust and the shits.
- Thread starter Hobo Hilton
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Via Paul Krugman (kek), here's the liberal elites' perspective on inflation:
So while Biden continues to get pounded in the polls, you've got people in his sphere of influence that honestly believe inflation is running at 3.5-4% + some sort of short-term bump. This is remarkably out-of-touch even by Washington standards.
It's probably time to ask how many Republican elites believe the same thing.
So while Biden continues to get pounded in the polls, you've got people in his sphere of influence that honestly believe inflation is running at 3.5-4% + some sort of short-term bump. This is remarkably out-of-touch even by Washington standards.
It's probably time to ask how many Republican elites believe the same thing.
Wholesale prices rose 10.8% in May, near a record annual pace
Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of Labor Statistics reported.
www.cnbc.com Wholesale prices rose 10.8% in May, near a record annual pace
Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of Labor Statistics reported.
Yeah, that sounds bad, but what is the number if you remove all the stuff that business need in order to operate like energy and labor and materials, and just look at some narrow category and call it "super-duper core PPI"? I bet that if we look at only, say, T8 fluorescent tubes and office chair caster wheels, we'd find far more optimistic numbers.
My apologies - I just wanted to play the role of NY Times pundit for a moment.
Biden Blames Republicans in Congress for Soaring Inflation
‘I don’t want to hear any more of these lies about reckless spending—we’re changing peoples lives,’ Biden said.
Now it’s those mean Republicans who are at fault for inflation.
Jerome Powell's wet dream
The average rate on the popular 30-year fixed mortgage rose 10 basis points to 6.28% Tuesday, according to Mortgage News Daily.
www.cnbc.com
The average rate on the popular 30-year fixed mortgage rose 10 basis points to 6.28% Tuesday, according to Mortgage News Daily.
30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago
The average rate on the popular 30-year fixed mortgage hit 6.28% Tuesday, according to Mortgage News Daily.
www.cnbc.com Redfin and Compass laying people off.
The housing market is moving in your direction... You Slum Lord.
Soon. Soon.The housing market is moving in your direction... You Slum Lord.
Biden Blames Republicans in Congress for Soaring Inflation
‘I don’t want to hear any more of these lies about reckless spending—we’re changing peoples lives,’ Biden said.www.yahoo.com
Now it’s those mean Republicans who are at fault for inflation.
I... I just can't. Congratulations, Joe - you've permanently broken my brain.
These two statements are in the same article, apparently referencing the same thing:
"While congressional Republicans were unanimously opposed"
And
"Biden touted the American Rescue Plan and bipartisan infrastructure bill during his speech."
I gotta question just how "bipartisan" it is when republicans were "unanimously", opposed.
He was dead nuts accurate with this one though: "we’re changing people’s lives!”
"While congressional Republicans were unanimously opposed"
And
"Biden touted the American Rescue Plan and bipartisan infrastructure bill during his speech."
I gotta question just how "bipartisan" it is when republicans were "unanimously", opposed.
He was dead nuts accurate with this one though: "we’re changing people’s lives!”
Fuck joe bidenBiden Blames Republicans in Congress for Soaring Inflation
‘I don’t want to hear any more of these lies about reckless spending—we’re changing peoples lives,’ Biden said.
Now it’s those mean Republicans who are at fault for inflation.
The Russian invasion of Ukraine accounts for more than a third of U.S. inflation, forecaster says
The Russian invasion of Ukraine and the sanctions that it triggered is behind more than a third of the 40-year high inflation of 8.6%, according to analysis from a leading forecaster.
ELL oh ell
Biden officials worry their Russia sanctions were so powerful they also brought economic suffering to the US, report says
Biden officials thought the impact of the Russia sanctions would be minimal in the US if they didn't affect food and energy, Bloomberg reported.
I can’t even….
Where to begin.Biden officials worry their Russia sanctions were so powerful they also brought economic suffering to the US, report says
Biden officials thought the impact of the Russia sanctions would be minimal in the US if they didn't affect food and energy, Bloomberg reported.
I can’t even….
This is still a “blame Russia” article, but spun in such a way as to promote an excuse, not admit to the total goat fuck this thing is. And no one is even acknowledging the trillions printed or the shutdown of energy production causing inflation. When you fuck with the world’s reserve currency it should be no surprise that the results impact the entire globe. That alone tells you their level of narcissism and ineptitude. None of these individuals in leadership should be dog catcher, much less leading the US.
Everything I just wrote assumes that they are stupid. Its probably the case that much of this is intended but it went critical too fast. Primarily because they know enough to be dangerous. That makes them evil and stupid.
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It's my belief that the biggest root cause of this shit is the left's war on fossil fuels. You could see this coming from a mile away when Brandon took office and immediately canceled the Keystone pipeline. My brother in LaPorte who works for Shell told me at the time "watch out"!
This whole economy runs on oil, like it or not. Do these idiots not understand that everything gets transported by diesel or gasoline (not pixie dust or a Star Trek transporter). As transport costs rise, so do the costs of goods being transported not to mention the energy cost increase in nat. gas and coal to generate the electricity to produce said goods.
This is not rocket science, it's basic Econ 101.
I have to renew my power contract here in central TX next month and am currently paying a hair over 9 cents a kwh and the cheapest I can find is around 12.4 cents.
So yeah Brandon, go ahead and blame Putin and the Fricking Ukraine ahit show but we know who is really to blame. It's you and your "green" energy string puller puppet masters trying to destroy our economy/country and congrats your doing a damn fine job of it!
Rant over.
This whole economy runs on oil, like it or not. Do these idiots not understand that everything gets transported by diesel or gasoline (not pixie dust or a Star Trek transporter). As transport costs rise, so do the costs of goods being transported not to mention the energy cost increase in nat. gas and coal to generate the electricity to produce said goods.
This is not rocket science, it's basic Econ 101.
I have to renew my power contract here in central TX next month and am currently paying a hair over 9 cents a kwh and the cheapest I can find is around 12.4 cents.
So yeah Brandon, go ahead and blame Putin and the Fricking Ukraine ahit show but we know who is really to blame. It's you and your "green" energy string puller puppet masters trying to destroy our economy/country and congrats your doing a damn fine job of it!
Rant over.
Interesting who "We the people" put our trust in.
Most people do not realize that The Federal Reserve Banks are owned by private institutions within their district. The public is not allowed to know who the owners are. https://www.federalreserve.gov/aboutthefed/structure-federal-reserve-banks.htm
Most people do not realize that The Federal Reserve was initially created by a secret cabal of rich elite via deceptive maneuvers. The group gathered secretly on November 22, 1910, then hatched their plan. During the Christmas season of 1913 after wading through the House and Senate, the Federal Reserve Act (known then as the Currency Bill) was signed into law on December 23rd. Insidious in its nature, the Federal Reserve Banking system is a debt-based monetary system. which in itself is a mechanism of slavery.
Most people do not realize that The Federal Reserve Banks are owned by private institutions within their district. The public is not allowed to know who the owners are. https://www.federalreserve.gov/aboutthefed/structure-federal-reserve-banks.htm
Most people do not realize that The Federal Reserve was initially created by a secret cabal of rich elite via deceptive maneuvers. The group gathered secretly on November 22, 1910, then hatched their plan. During the Christmas season of 1913 after wading through the House and Senate, the Federal Reserve Act (known then as the Currency Bill) was signed into law on December 23rd. Insidious in its nature, the Federal Reserve Banking system is a debt-based monetary system. which in itself is a mechanism of slavery.
The Federal Reserve and Money...Aspects which are not widely known
Most people do not realize that The Federal Reserve Banks are owned by private institutions within their district. The public is not allowed to know who the owners are. https://www.federalreserve.gov/aboutthefed/structure-federal-reserve-banks.htm Most people do not realize that The Federal Reser...
community.oilprice.com
I think we would all be better off if we just go ahead and bake in a huge stock market dip very soon. Like huge. Fucking with oil and currency levels while wages (naturally) lag the currency boom are causing most business and individual bottom lines to crash. I'm not a big fan of doom and gloom but tearing apart the most important commodity in the world economy will impact every company and destroy most through increased costs, but the main route will be via limited supply of materials and limited monetary resources of their customers. Couple that with the increasing debt levels of both businesses and families along with the trading of stocks on margin and it becomes a terrible stew. It really is that dire, and no one is talking about it. When it comes to unemployment you aint seen nothing yet. And it's going to happen.
Blame the Fed. Brrrrrrrrrr!
What's the difference between money and currency? Neither schools nor colleges teach you but if you don't know, you'll learn soon.
What's the difference between money and currency? Neither schools nor colleges teach you but if you don't know, you'll learn soon.
Biden officials worry their Russia sanctions were so powerful they also brought economic suffering to the US, report says
Biden officials thought the impact of the Russia sanctions would be minimal in the US if they didn't affect food and energy, Bloomberg reported.
I can’t even….
Is it the goal of this administration to validate every stereotype of the out-of-touch liberal elite? Because if so, it's the only thing they are doing well.
Remember this oldie but goodie?
I can agree with this. The Fed is always a backward looking entity, and there are things Kudlow said I disagree with in this interview, especially continuing to buy stocks. The printing of money and then trying to control the results is like me as a kid putting gas on an ant bed and trying to stop the resulting grass fire with a bucket. The only difference is that I didn’t know better. They definitely should have.
I need to admit that I have an anti-Kudlow bias. He has said some incredibly stupid things over the years - especially leading up to the 2008 crash - and I find it difficult to forgive him, despite the fact that many others (like Peter Schiff) have also said an equal number of equally stupid things. Because I'm petty, let's look at an example from 2019 (when he was an economic advisor to Trump) of him actively making the problem worse:
White House advisor Larry Kudlow says Fed should 'immediately' cut rates
Top White House economic advisor Larry Kudlow wants the Federal Reserve to "immediately" cut interest rates by 50 basis points.
www.cnbc.com But looking beyond that, have you seen his most recent plan for fixing inflation? He starts by suggesting a personal tax cut (which by itself would be inflationary) and then counters it with a reduction in government spending by some unstated amount. It's basically the same thing he's been saying for 40 years, and completely ignores two very difficult facts:
1) Supply-side economics may be a fine tool for tuning-up an underperforming economy, but that's not the problem we presently face and it doesn't address the root causes of the current situation.
2) Every notwithstanding the previous point, the magnitude of the present problem goes far beyond what can practically be accomplished with tax and spending cuts.
I come to praise tax and spending cuts, not bury them, but they aren't the tools that will fix this problem.
Putin’s stagflation revenge: Everyone said his war would destroy Russia’s economy but he’s killing America’s too
The Russian president's stranglehold on fuel prices could batter the global economy.
Putin’s fault.
LOL, well it sure can't be Biden's fault. His band of capitalist killers, environmentalists fanatics, green new deal terrorists, and carbon tax credit scalpers aren't going to take the blame.Putin’s stagflation revenge: Everyone said his war would destroy Russia’s economy but he’s killing America’s too
The Russian president's stranglehold on fuel prices could batter the global economy.
Putin’s fault.
it's
1) putins fault
2) trumps fault
3) republican's fault (they are all terrorists if you ask democratic leadership)
4) Covid
5) next big thing
Printing gobs of money has never in the history of nations EVER produced inflation or hyper inflation. Hell, ask Argentina
"Heavy pressure against the exchange rate, devaluation and hyperinflation then ensued when the public-sector debt stock exceeded what financial markets could be persuaded to hold at reasonable interest rates."
Pass the bills, it's for the children or your protection. Pick one edit - I tried to explain to a friend last night,, when Russia has artillery/missiles that goes 300 miles, and your best missiles go 150, your fucked.
If the range on your gun is 20 miles and the enemies is 30, your fk'd.
If the US wants Ukraine to win, they'll give Ukraine equal weapons. All we are seeing, is a prolonged war so the
Amazing how removed this administration is removed from "We the People".
Worldwide, inflation is not letting up. A very large percentage of companies both on the DOW Industrials as well as the NASDAQ are, basically, foreign companies. America is so ingrained with these companies that inflation in America will continue to remain high as long as other countries do nothing to tame their inflation.
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"With the economic outlook so unclear, no one knows how high inflation could go, and how long it will continue for — making fiscal and monetary policy judgments particularly tough," said Jack Leslie, senior economist at the Resolution Foundation think tank.
www.cnn.com
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"With the economic outlook so unclear, no one knows how high inflation could go, and how long it will continue for — making fiscal and monetary policy judgments particularly tough," said Jack Leslie, senior economist at the Resolution Foundation think tank.
The United Kingdom has the highest inflation in the G7
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-of-living crunch.
Return your seat to the upright position
Powell says no guarantee of soft landing for U.S. economy
Powell says no guarantee of soft landing for U.S. economy
I think Powell is hinting at, when it comes to inflation,, you haven't seen nothing yet.
I guess the high inflation is still to come
Gov knows they are lying when they claim 8% inflation.
Anyone who 'works' for a living, knows its past 20%.
Food and gas. Hell, even if the price points haven't moved on food, the 'shrink' in the containers or product is noticeable.
Here's a very subtle expense that has compounded over the years.I think Powell is hinting at, when it comes to inflation,, you haven't seen nothing yet.
I guess the high inflation is still to come
Gov knows they are lying when they claim 8% inflation.
Anyone who 'works' for a living, knows its past 20%.
Food and gas. Hell, even if the price points haven't moved on food, the 'shrink' in the containers or product is noticeable.
When I was a child, we went to the "Family Doctor". He treated us for everything from A to Z.
Now, everything has become a "Specialty" and it is requiring different medical coverage for each of them.
Now, rather than have one deductible, I have several.
Medicare has one, Part D has one, Blue Cross has one, VSP (Eye) has one, Delta Dental has one, etc. + + + + +
After adding up all of the deductibles and co-pays, that is almost one month's income for many on a fixed income.
Folks that were living pay check to pay check last year are loosing ground quickly....
The interview of him by the Squaw Pocahontas is interesting. He admits raising rates wont help curb gas or food prices at all. However, it is telling that he doesn't acknowledge that so much of this is because she and others are the ones who have been voting to run the printing presses like never before. Everyone in that video is posturing and playing games for the camera.
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MSN
www.msn.com
Combine this with the low inventories in Cushing and the SPR. Problem.
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
Core personal consumption expenditures prices, excluding food and energy, rose 4.7% from a year ago, slightly less than expected.
www.cnbc.com Wow, a whole 150k bbls/day. That's, like, almost 11 minutes of US consumption.
I'm looking forward to Matthew Simmon's Twilight In The Desert rocketing back to the top of the best sellers lists.
One more with the FED Reserve with a plan full of "Hope" without substance.
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Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank’s 2% target, adding that it will be “moving down” gradually from the current level.
www.cnbc.com
____________________________
Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank’s 2% target, adding that it will be “moving down” gradually from the current level.
Inflation will not fall to 2% target for two years, Fed's Mester says
Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank's 2% target.
www.cnbc.com The signs are starting to show up
www.kpax.com
Costco raises price of several food court items
According to the Bureau of Labor Statistics, the food cost nationwide went up nearly 10% in the 12-month period ending in May.
www.kpax.com Stopped in at the local grocery store to pickup some chuck roasts that were on sale and a jar of Miracle Whip. Miracle Whip was $8.65. Damn near double from 2 weeks ago.
It is a sad state of affairs when the strongest kid in the currency neighborhood is experiencing an official inflation rate near 9% and a real-world rate somewhere north of 15%. All of the western world’s fiat currencies are presently being inflated into oblivion. Some, apparently, a bit more slowly than others!
finance.yahoo.com
Dollar continues dream run, little stands in its way
The U.S. dollar will remain strong for at least the next three months as it basks in both expectations for aggressive Federal Reserve interest rate rises and safe-haven appeal stemming from global recession fears, a Reuters poll of FX analysts showed. But in the near-term, a host of issues is...
One of my personal inflation indicators..... 20% +
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Costco Wholesale Corp. saw a 20.4% bump in its June sales, the retailer reported Thursday. The company announced that it had $22.78 billion in net sales for the retail month of June, which spanned the five weeks that ended July 3. That was up from $18.92 billion a year before.
Costco sees 20% bump in sales for June
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Costco Wholesale Corp. saw a 20.4% bump in its June sales, the retailer reported Thursday. The company announced that it had $22.78 billion in net sales for the retail month of June, which spanned the five weeks that ended July 3. That was up from $18.92 billion a year before.
Costco sees 20% bump in sales for June
Just a quick reminder not to get too wrapped up in the current paradigm:
Commodity prices are crumbling, setting up for global deflation: SocGen
"The long and the short of it is that US CPI food price inflation is set to collapse into deflation, just as it did in 2008/9," SocGen analysts wrote.
markets.businessinsider.com
Preppers buying in bulk after reading the Food Riots thread
Exactly this. Inflation is bad but deflation is the monster in the room. Entire governments have dissolved because of it. The Fed and the politicians with the profligate spending have set this up as a distinct possibility. None of us want this outcome.Just a quick reminder not to get too wrapped up in the current paradigm:
Commodity prices are crumbling, setting up for global deflation: SocGen
"The long and the short of it is that US CPI food price inflation is set to collapse into deflation, just as it did in 2008/9," SocGen analysts wrote.markets.businessinsider.com
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