Inflation

[Grouse]

The June inflation numbers are a disaster, coming in at a 40-year high of 9.1%.

After the Biden administration’s repeated victory laps crowing about “the fastest-growing economy in the world” and how we’re “stronger economically” than ever, the downward spiral is feeding a growing consensus that President Joe Biden and his Democrats in Congress are actively making things worse.

According to official numbers, prices rose 1.3% on the month, which translates to an annualized pace of nearly 17%.

Controlling for manipulated housing statistics, the numbers are even worse: 1.7% on the month, which comes to 22% annualized.

Let's Go Brandon!

Even as Democrats reluctantly abandoned COVID lockdowns, they were busy unleashing a flood of new restrictions targeting energy production and distribution, farmers, manufacturing, logistics, and small businesses, often using the environment, unions, or COVID-19 as the excuse.

Of course, if Biden and congressional Democrats had their way, it would be far worse: The Senate came within a few votes of passing Biden’s so-called Build Back Better plan, which would have handed trillions to special interests while hobbling the economy, exploding inflation, and driving shortages far beyond baby formula. The goofy Green New Deal might have spent $93 trillion—over a million dollars per family—on top of economy-crushing mandates.

In sum, this administration and congressional Democrats are doing everything they can to drive inflation higher.

What would stop the chaos? Simple: Rein in federal spending and end the war on production. Radically scale down the handouts, the regulations, and extortionate taxes that strangle businesses, factories, and the tens of millions of workers they employ.

If we do not get a handle on this crisis, indeed on the mentality driving this progressive takeover of the economy, it won’t just crush this economy. The life prospects and future of the next generation will be in jeopardy.

Edited July 24, 2022 by Grouse

[mowin]

It's trum... I mean Russia's fault.. 

[GreeneHunter]

S & P 500 this past year ....

 

[Nomad]

I have our driveway sealed every 2-3 years or so , over the years it slowly rose in price from oh, $69 to,last time somewhere just over $100.

Just called the same company I often use , $240 .

I pulled out a can of coffee from our panty , the price sticker ,was $5.99 , same can in the store today , $12.99 .

Ive been buying some things in bulk and online ,to help level things out . I take a low dose aspirin a day , 30 for $3 at the store , 1000 for $10 online , double edge razor blades $10 for 100 online . Cancelled one streaming service, and many on the street have changed trash companies,to the one thats lowest ,little things but if one focuses cutting back a grand in savings isn’t that hard , just unfortunate it’s needed . Depending on how things go next year , may cut the lawn service ,and leave the camper in the driveway ,and not pay for year round storage .

Selling the old boat put a little cash in my pocket, and eliminated , storage cost, insurance , boat and trailer registration fees .

We’re doing ok but , but if things continue down the same path it’ll take its toll .

[BizCT]

Why is anyone surprised? You all thought the stimulus was free money?


Sent from my iPhone using Tapatalk Pro

[Grouse]

Who's surprised?  Maybe the people who supported Biden and didn't believe it would happen, or hated Trump so much they were willing to impose all of this misery on everyone to see him gone.

[Grouse]

[DoubleDose]

Hmmm! 95% Federal Excise Tax on American Pharmaceutical Manufacturers?  At the same time Medicare can negotiate prices? Don't think for one second prices of medications are going to come down now.  

[Grouse]

[GreeneHunter]

SP 500 ... today

 

[Nomad]

Briefly hit the store today , jar of mayonnaise $6.50 a chuck roast was $22 !

[ADK Native]

President Biden said that Putin is the blame for inflation.  Actually he was telling some truth.  Putin’s war crimes against Ukraine cannot be understated and should not be forgotten.  Putin is an evil war criminal that should face execution for his crimes.

Before I continue, let’s look at young Joe Biden.  He was a draft dodger during a time period when America was fighting communism against North Korea, Vietnam and the Soviet Union.  Not sure if Biden was a coward and/or supported communism, but he did not fight communism.

Biden has said that his son Hunter Biden is one of the smartest people he knows.  The statement speaks volumes for Biden’s state of mind.

The war in Ukraine is being fought by men and women, yes women who have more courage than Biden could imagine.  It was Biden who failed to get the best armaments to the Ukraine military before Russia invaded.  It was Biden who refused to allow Poland to transfer fighter jets to Ukraine.

So if Biden had done his job, Russia’s third rate military would really have had greater destruction.  Russia has always been an enemy of the United States of America.  They have worked against us and have supported our enemies.  So there is no shame in assisting in destroying Russia s military.  Why did not Biden take the right actions?

So really inflation is mostly Biden’s fault due to his incompetent decision making in both domestic and foreign affairs.  Then again, Biden thinks Hunter Biden is one of the smartest people he knows!

Edited September 13, 2022 by ADK Native

[Grouse]

Putin is not responsible for trillions in spending since Biden was installed in the White House.  All of that inflationary spending is on this administration and the Democrats that supported it.

[Grouse]

The price of chicken

This photo looks a little gross, because – well – it is. But this uncooked chicken in front of a huge stack of money tells a larger, sadder story. It comes to us from Venezuela, which has been battling hyperinflation for years.

To put it simply and briefly, hyperinflation is the term for prices spiraling out of control while currency values plummet. Things have gotten so bad in the South American country that this five-pound chicken now costs 14,600,000 bolivars. Yes, more than 14 million. However, this astronomical sum is only worth $2.22.

 

[suburbanfarmer]

16 hours ago, Grouse said:

The price of chicken

This photo looks a little gross, because – well – it is. But this uncooked chicken in front of a huge stack of money tells a larger, sadder story. It comes to us from Venezuela, which has been battling hyperinflation for years.

To put it simply and briefly, hyperinflation is the term for prices spiraling out of control while currency values plummet. Things have gotten so bad in the South American country that this five-pound chicken now costs 14,600,000 bolivars. Yes, more than 14 million. However, this astronomical sum is only worth $2.22.

 

So a chicken is still cheaper after conversion..maybe we should importing it and selling it here  

Jokes aside, i know what you are saying

Edited September 19, 2022 by suburbanfarmer

[Grouse]

"Let this sink in: $1.00 at the start of the Biden administration is now worth $0.88. This is the Democrats' tax on the middle class, and it's crushing all Americans." —Senator Ron Johnson

"If you're a senior lucky enough to hold $100,000 in a retirement account at the start of the Biden administration, it's now worth only $88,300. It's like the federal government stole $12,000 out of your savings account, and that's exactly what they did because of their exorbitant and out-of-control deficit spending, and they have no intention of stopping." —Ron Johnson

"The last time the United States had to deal with inflation, the federal government's debt was equivalent to 30 percent of GDP. Today, that number is 130 percent. Maybe we should have thought about this earlier?" —Charles C.W. Cooke

Edited September 22, 2022 by Grouse

[Nomad]

Attn Rochester area . Good inflation beater price on chicken , I’m grabbing 20 pounds maybe 30 not sure , I’ll can some and vacuum pack some .

[GreeneHunter]

Thanks Biden

[Larry]

The real rate of inflation is over 10% the only reason it's not showing that right now is because the price of gas went down now that has price is going up it's going to show in the end of November 

[Grouse]

[ADK Native]

Key inflation measure climbs to 40-year high as Fed efforts ring futile and shoppers brace for more pain

https://www.msn.com/en-us/money/markets/key-inflation-measure-climbs-to-40-year-high-as-fed-efforts-ring-futile-and-shoppers-brace-for-more-pain/ar-AA12UYEA?ocid=SL5GDHP&pc=SL5G&cvid=7f42abcd195c439daf155976feb5dbf2

“Brace for more pain”?  Reminds me of former Bill Clinton's remark “I feel your pain”.  Obviously once elected he was feeling something else in the oval office.  Clinton was one of the worst presidents.  Clinton, a draft dodger hurt our military, but he was a draft dodger so we understand.

So when will President Biden’s “Build back better” relieve our “pain”?  Apparently Biden's "Build back better" is making our “pain” worse.

[Nomad]

Inflation is a regressive tax, hurts the low earners the most. Young people starting out and older retirees on fixed incomes ,for example . Our daughter is a nurse her husband is in the skilled trades ( union guy ) it’s a struggle to replace his car right now even with two decent incomes . Fortunately he has a work truck and gas card .

Food , gas, home heating is taking a  larger portion of the budget and increasing monthly ,they put off home improvements to focus on saving for a used car .

Our kids never had an issue buying a solid used car, two year old Civic , the sporty model low miles was 16k when our daughter bought it a three years back . A relative just  bought a TEN YEAR OLD Camry for 15k !!! and that was after an exhaustive search , contrast that with the one year old Corolla  SE our other daughter paid 17k for ,before we built back better .

[GreeneHunter]

S & P 500

[9jNYstarkOH]

[Grouse]

There are deft political maneuverers who react to circumstances as necessary, and then blinkered and mulish politicians who can't or won't acknowledge reality.

There are policymakers whose worldviews line up with basic economic laws, and then those always bound to be confounded by the real world consequences of their ideological fixations.

There are master communicators who can make anyone feel better about anything, and then there are stumblebums whose evasions and lapses in logic are painfully obvious.

Joe Biden is emphatically the latter on every count. He likes to say fighting inflation is his foremost priority, but it's hard to identify any major initiative of his that would be any different if the annual inflation rate were under 2% rather than over 8%.