Inflation surges 7% in December, highest rate in 40 years

[Stringfellow Hawk]

Get ready to relive the Carter years!

Inflation rose at the fastest pace in nearly four decades in December, as rapid price gains fueled consumer fears about the economy and sent President Biden's approval rating tumbling.

The consumer price index rose 7% in December from a year ago, according to a new Labor Department report released Wednesday, marking the fastest increase since June 1982, when inflation hit 7.1%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.5% in the one-month period from November.

https://www.foxbusiness.com/economy/...er-price-index

[Earl]

A 40 year high for inflation.

Biden/Kam are harming Americans.

[Celticguy]

A 40 year high for inflation.

Biden/Kam are harming Americans.

and hardest of all on who ?

you guessed it, po folks...

[Stringfellow Hawk]

It is really bad, someone above the poverty level to mid middle class are really struggling right now

[Earl]

The Fed has said that they will raise interest rates but that will only mitigate inflation a bit.

The middle and lower income folks will suffer with higher mortgage and credit card interest rates.

Biden/Kam are harming Americans.

[Into the Night]

The Fed has said that they will raise interest rates but that will only mitigate inflation a bit.

The middle and lower income folks will suffer with higher mortgage and credit card interest rates.

Biden/Kam are harming Americans.

Raising interest rates will do nothing about all the money the Fed is printing.

[Phantasmal]

It is really bad, someone above the poverty level to mid middle class are really struggling right now

Blame greedy corporatists. Ari Melber’s show last night, he knocked it out of the park.

Our country is not alone

“The big picture: Rising prices aren’t just a problem in the United States. Thirty-nine of the countries analyzed by the Pew Research Center saw inflation increase between the third quarter of 2019 and the third quarter of this year.”

https://news.yahoo.com/u-isn-t-alone...221123571.html

[Earl]

Out of control spending by the Biden/Kam Democrats are partly to blame for the out of control inflation.

They are hurting lower and middle income Americans.

[McRocket]

Out of control spending by the Biden/Kam Democrats are partly to blame for the out of control inflation.

They are hurting lower and middle income Americans.

Finally...someone gets it right.

Yes, Biden is partly to blame.
DEFINITELY.
With his throwing, GIGANTIC amounts of money at the economy like an imbecile.

But the main culprit by a MILE is the Federal Reserve.

What so many people seem to be clueless about is the Fed - in essence - runs the economy now.
Congress could NOT run gigantic deficits without the Fed's support (not for long).
In fact, the Fed bought up nearly all of Congress's deficit spending this year.
https://wallstreetwindow.com/2021/08...-ryan-mcmaken/

This had been coming for a LONG time.
With the near-zero interest rates and massive equity stimulation.
The Fed has been practically daring inflation to rear it's ugly head.

Personally?
I am not sure this is the 'big one' yet.
I expected a few more years at least before the debt bubble bursts.

Anyway, we will know in a few months?
If inflation keeps rising...BIG trouble.

[cancel2 2022]

Finally...someone gets it right.

Yes, Biden is partly to blame.
DEFINITELY.
With his throwing, GIGANTIC amounts of money at the economy like an imbecile.

But the main culprit by a MILE is the Federal Reserve.

What so many people seem to be clueless about is the Fed - in essence - runs the economy now.
Congress could NOT run gigantic deficits without the Fed's support (not for long).
In fact, the Fed bought up nearly all of Congress's deficit spending this year.
https://wallstreetwindow.com/2021/08...-ryan-mcmaken/

This had been coming for a LONG time.
With the near-zero interest rates and massive equity stimulation.
The Fed has been practically daring inflation to rear it's ugly head.

Personally?
I am not sure this is the 'big one' yet.
I expected a few more years at least before the debt bubble bursts.

Anyway, we will know in a few months?
If inflation keeps rising...BIG trouble.

Yes correct, these arseholes are too young and stupid to know but they are about to find out about the corrosive effects of inflation. I sincerely hope that they never experience stagflation first hand.

[Stringfellow Hawk]

Blame greedy corporatists. Ari Melber’s show last night, he knocked it out of the park.

Our country is not alone

[FONT="]“The big picture:[/FONT] Rising prices aren’t just a problem in the United States. Thirty-nine of the countries analyzed by the Pew Research Center saw inflation increase between the third quarter of 2019 and the third quarter of this year.”

https://news.yahoo.com/u-isn-t-alone...221123571.html

Everyone that understands supply side economics knows transportation drives all costs. We now have higher fuel costs than under the previous admin and lack of drivers meaning some things simply don't ship driving demand. Many manufacturers are seeing trans cost higher than raw material costs when priced per unit, same for outgoing waste from that production.

this will be worse than Carter and Biden is not near the intelligence of Carter

[Phantasmal]

Everyone that understands supply side economics knows transportation drives all costs. We now have higher fuel costs than under the previous admin and lack of drivers meaning some things simply don't ship driving demand. Many manufacturers are seeing trans cost higher than raw material costs when priced per unit, same for outgoing waste from that production.

this will be worse than Carter and Biden is not near the intelligence of Carter

You making this statement means you are ignorant about how things work.

[Stringfellow Hawk]

You making this statement means you are ignorant about how things work.

I live it and see it every day dealing with top industry leaders seeing their raw material cost go out of site while waste disposal is off the charts. You must be the ignorant one, or probably programmed one.

[LV426]

You making this statement means you are ignorant about how things work.

He's making it up as he goes because he doesn't know a fucking thing about this.

The price of oil is not reflective of anything OTHER THAN OPEC production cuts.

Transportation costs aren't causing the supply chain crisis, SHIPPING CONTAINER SHORTAGES are.

We sent thousands and thousands of shipping containers full of PPE to countries that aren't a part of the normal supply chain; so a container that would normally carry consumer goods from China to the US and back, instead carried PPE from industrialized nations to countries that aren't industrialized, and since those countries lack the infrastructure to turn containers around, they're literally sitting there, collecting dust, until the logistics teams at the private companies who own these containers can locate it and arrange for it to re-enter the supply chain.

It's not as simple as Conservatives think because Conservatives are simple people.

[PostmodernProphet]

You making this statement means you are ignorant about how things work.

no lib'rul should pretend they understand how things work......they are always wrong....