https://www.marketwatch.com/story/u...ow-another-big-gain-11654795321?mod=home-page Wall Street is looking for a sign, any sign, that U.S. inflation is coming off a rapid boil. But they are unlikely to find much cooling off in May’s report on consumer prices. The consumer price index is expected to show a large 0.7% increase when the report is released Friday morning — more than double the gain in the prior month. And the number could be even higher after another spike in the cost of gasoline as well as steadily rising rents and food prices. The increase inflation over the past year, meanwhile, is forecast to stay near a 40-year high. In April, the yearly rate fell for the first time in eight months to 8.3%. The prior 8.5% reading in March was the biggest since December of 1981. The big worry on Wall Street DJIA, -0.32% SPX, -0.54% is that inflation is shifting to services from goods. That’s because rising prices in services — think rent, hotel rates and plane tickets — tend to be harder to reverse and are often a sign inflation is becoming embedded in the economy. With a slowing economy we appear to be doomed for a fairly extended recession.. Or wait... Democrats think inflation is the sign of a good and strong economy.
Too late to blame inflation on Trump now, or is it? Let's wait until after the Jan6 prime time media spectacular.
Yeah, in the midst of all of Biden’s failures the left had to dig up a year and a half old trespassing event in their attempt to distract us.
The thing to remember with this metric is that's measuring from where you were 12 months ago. 12 months ago we had already been climbing the inflation ladder since Biden and the Dems funded a destructive strike against the US economy that these idiots claimed would raise real wages rather than result in shortages and runaway inflation. By May of last year, inflation was already running up the rungs. This measurement will be the increase on top of the increase, and they will try to claim worse is an "improvement". Inflation is up 10.1% under Butthole Biden. Inflation was up 2.7% for the same period during the Trumpian era of low prices and plenty.
I'll bet GM is having some regrets about discontinuing the Cruze now. Small, fuel efficient cars like that one are bound to be popular again while SUVs collect bird droppings on the lot.
This is bad enough -- but remember -- the "CPI" is not (NOT) the same as what the government and the Federal Reserve central bank call "CORE INFLATION", which deliberately excludes food and energy in the statistics! How fugging convenient for those who want us all to think that everything's just fine! So, for instance, when the "Fed" as the real decision-maker issues its annual proclamation about how much increase should be provided for the Social Security cost-of-living increase, they always use "CORE INFLATION" and another shell-game they manipulate called "CPI-W". Bottom line? If you're on SS, you got SCREWED this year, and, knowing the Federal Reserve combine as well as I do, we'll all get SCREWED again next year, too!
Will January 6 Make Americans Forget Our Wallets Are Shrinking and Libs Want to Assassinate Half the Supreme Court? Not likely. Hold your stupid show "hearings, Dems. The rest of us are busy trying to make ends meet in the economy you’re determined to destroy."
Incredible transitions, cont'd: Bidenflation CPI soars to 8.6% in May, up 1% month-on-month Despite all of the lies about inflation peaking last month, "inflation not only hasn’t abated — it’s still soaring. The consumer price index went up a full point month on month in May, and rose to 8.6% year-on-year. That doesn’t take into account that the May 2021 basis for today’s report had already begun showing inflation in the 5% range." "Inflation is hammering American households across all categories, especially in their most vital needs — food, shelter, and energy. CNBC’s Jeff Cox notes that this is the worst CPI report in over 40 years:" It gets worse. Real wages are falling: "Real average weekly earnings also dropped 0.7% in May. Workweek hours dropped 0.9% year-on-year, which means that real average weekly earnings year-on-year have dropped 3.9%. This is what the American worker has seen for the past year under Bidenflation:" Devastating. Dems don't care. They are focused on; J6 committee, "abortion politics, climate change. Workers have only had two months out of the past thirteen with any real wage gains. That’s the “incredible transition” that will be on their minds every day between now and the midterms." "Groceries +11.9% y/y –>Biggest inc. since 1979 Chicken +17.4% ->Largest ever Restaurants +9% -> Largest ever Fuel oil +107% ->Largest ever Electricity +12% ->Largest since '06 Rent +5.2% ->Largest since 1987 Airfare +37.8% ->Largest since 1980 Services +5.7% ->Largest since 1990" "It will take years for wages to catch up to the gaps that this round of hyperinflation have created."
This time consumers seem to be sticking with their SUV’s and ready to ride this out and wait out the Brandon regime so that different policies will return lower prices. This is a war against our President that we consumers are willing to wage against him. Either he backs down or he stays unpopular and the resulting economy will get his ass booted out of office
I own an almost like new 2000 Nissan Maxima now since March 21, 2020 after I got laid off, got two part time jobs, and my 2004 Kia Sorrento was too expensive to keep running after 210,000 miles. My Maxima is now worth $3,000 more now than I paid for it. Not buying electric any time soon. Kia has a Niro I like that has both a short range electric motor and a gas engine that I do like as a retirement car 5-7 years from now.
Remember when Biden was going to save us all by going to E-15? "even though (a) we’re facing food and grain shortages already, (b) putting more ethanol into gasoline won’t impact the price, and (c) it will actually make gasoline less efficient and therefore require everyone to use more of it. Other than that, it’s brilliant." "The easiest options would be for Biden to rescind his EO 13990 to remove the obstacles to exploration, extraction, and refining that he himself created. A tax package to incentivize refinery construction and exploration investment would work wonders in getting those efforts back on track. Those moves might trigger a sharp response in futures markets too, which could have an immediate impact on gas prices. However, Biden’s too married to the radical-environmental movement to do any of these, so he’s settling for the embarrassing option of going hat in hand to the “pariah state” Saudi Arabia to pull an Oliver Twist and plead for more fuel:" https://hotair.com/ed-morrissey/202...-not-buying-bidens-gas-price-strategy-n475766 And, of course, he won't rescind his executive order that is driving fuel prices through the roof. Right now, the average family is paying an additional $500/mo to buy the same things they bought before the Biden/Dem imposed disaster, and credit card levels are skybound.
