Inflation hits 40-year high as CPI rises 8.6% in May

[Into the Night]

And the unhinged lefties here think the average working American gives one shit about Jan6? Wait until the midterm election numbers and these asshats found out just how many Hispanic farm workers who are filling their 15 year old pickups at $100/tank have voted.

This is assuming, of course, the election fraud by Democrats will be contained.

 

[dukkha]

LARRY KUDLOW: Anybody in Congress who wants to spend on some bill right now -- environmental spending, energy tax credits, health care, child allowances, DB derivatives – anybody that wants to spend has got to be out of their mind. Given a report like this and given the trend line and given the acceleration of inflation, we need to freeze domestic spending while the Fed removes excess cash from the economy.
…

This shows you we're headed downscale. It's going to be very difficult, if not impossible, to avoid a recession in the next 12 months. That's what's going to happen here.
https://www.foxnews.com/media/kudlow-inflation-hitting-new-high-congress-spend

 

[evince]

Larry isn’t much of an expert



https://www.justplainpolitics.com/showthread.php?190363-Give-us-you-solution-to-inflation


Here’s a place to go put your Netanyahu fixes for inflation that you keep pretending Biden could do

 

[Into the Night]

It's not just Biden.

True. It's Congress, and mostly Democrats.

Trump raised the deficit year after year after promising to pay off the debt entirely in 8 years.

Word stuffing. He made no such promise. The deficit is meaningless.

And both POTUS's are fully guilty of refusing to reel in the Fed...who is the primary culprit of this inflation mess.

The Fed does what the President a Congress order them to do.

Yes, Biden has ONLY, made things worse.

Yup.

But blaming him entirely for a situation that was brewing for over a decade is COMPLETELY erroneous.

True. Biden hasn't been in office 88 years.

Fighting inflation is supposed to be the Fed's NUMBER ONE JOB.

WRONG. CAUSING inflation is the Fed's number one job.

And they have failed MISERABLY at it.

They have been very successful at it.

The Fed are to blame more than Trump and Biden combined.

Fine. You can make that argument, but the Fed only does what Congress and the President tells them to do.

 

[BartenderElite]

Inflation started well before the invasion by Putin

Biden halts oil, gas leases amid legal fight on climate cost
https://apnews.com/article/climate-business-environment-and-nature-91f740cbd9f5f872fcdee911ff5f8026
delays follow a ruling by U.S. District Judge James Cain of the Western District of Louisiana, who blocked federal agencies from using an estimate known as the “social cost of carbon” to assess pollution from carbon emissions by energy production and other industrial sources. The decision blocked the Biden administration from using a higher estimate for the damage that each additional ton of greenhouse gas pollution causes society.

President Joe Biden on his first day in office restored the climate cost estimate to about $51 per ton of carbon dioxide emissions, after President Donald Trump had reduced the figure to $7 or less per ton. Trump’s estimate included only damages felt in the U.S. versus the global harm previously used by President Barack Obama.

The damage figure uses economic models to capture impacts from rising sea levels, recurring droughts and other consequences of climate change and helps shape rules for oil and gas drilling, automobiles and other industries. Using a higher cost estimate would help justify reductions in planet-warming emissions by making the benefits more likely to outweigh the expenses of complying with new rules.

Economically, inflation - global inflation - was inevitable due to COVID. Inflation started when Trump was in office.

Biden has had a year and a half. Anyone who thinks that ANY policy he implemented had immediate effects on the economy doesn't understand economics.

Oh - and inflation will start decreasing this summer. Might be time to worry a bit about the mid-terms.

 

[Into the Night]

Are there STILL some Bidenbots who are delusional enough to still refuse to stop calling the inflation rate 'transitory'?

If there are - they now are going to blame it ALL on Trump and Russia...I suppose.

High inflation is directly caused by Biden. So are all the shortages.

 

[Truth Detector]

Did Biden lock down China?

Meaningless blather.

Can Biden force oil companies to increase production?

No, he forced them to decrease production you clueless hack. He can get things up and running if he goes back to the policies Trump had in place which he reversed with dumb executive orders.

Did Biden cause Putin to invade Russia?

No, he encouraged it by refusing to sit down with Putin before all hell broke out. But alas, Biden wanted to look tough and thought it would boost his sagging ratings.

Now, we have spent $53 billion in a proxy war with Russia risking a nuclear exchange. It's idiotic, but that's what happens when you get a senile, old incompetent buffoon in the White House.

What exactly could Biden have done to alleviate these problems? I’d like to hear conservative solutions to these problems, thanks.

First, not reverse Trumps energy policies and canceling the Xcel pipeline. Second, not reverse Trump policies regarding the border and completing the wall instead of sending $53 billion to Ukraine.

Third, not spend $5 trillion on leftist political payouts on the back of taxpayers. Bottom line, had Biden done NOTHING, we would be in much better shape economically and Afghanistan wouldn't be run by the terrorist in the Taliban again.

This is what happens when know-nothing Democrats play the opposite game and think this is all a game of political one upmanship.

 

[Into the Night]

Inflation started well before the invasion by Putin

Biden halts oil, gas leases amid legal fight on climate cost
https://apnews.com/article/climate-business-environment-and-nature-91f740cbd9f5f872fcdee911ff5f8026
delays follow a ruling by U.S. District Judge James Cain of the Western District of Louisiana, who blocked federal agencies from using an estimate known as the “social cost of carbon” to assess pollution from carbon emissions by energy production and other industrial sources. The decision blocked the Biden administration from using a higher estimate for the damage that each additional ton of greenhouse gas pollution causes society.

President Joe Biden on his first day in office restored the climate cost estimate to about $51 per ton of carbon dioxide emissions, after President Donald Trump had reduced the figure to $7 or less per ton. Trump’s estimate included only damages felt in the U.S. versus the global harm previously used by President Barack Obama.

The damage figure uses economic models to capture impacts from rising sea levels, recurring droughts and other consequences of climate change and helps shape rules for oil and gas drilling, automobiles and other industries. Using a higher cost estimate would help justify reductions in planet-warming emissions by making the benefits more likely to outweigh the expenses of complying with new rules.

Inflation started many decades ago. The worst inflationary periods (the highest inflation) have been under Democrats, including this one.

 

[Truth Detector]

It's not just Biden.
Trump raised the deficit year after year after promising to pay off the debt entirely in 8 years.
And both POTUS's are fully guilty of refusing to reel in the Fed...who is the primary culprit of this inflation mess.

Yes, Biden has ONLY, made things worse.
But blaming him entirely for a situation that was brewing for over a decade is COMPLETELY erroneous.

Fighting inflation is supposed to be the Fed's NUMBER ONE JOB.
And they have failed MISERABLY at it.

The Fed are to blame more than Trump and Biden combined.

I am amused when Trump haters want to blame him for the deficits caused by a China virus pandemic.

 

[Into the Night]

Yeah it was called Covid recovery

The Church of Global Warming is not a recover of any kind, dude. That religion stems from the same source as the Church of Covid. The Church of Karl Marx, and the Democrats.

Pent up demand and lack of product due to the world being shut down during a pandemic

The world wasn't shut down. DEMOCRATS shut down the economy. Trump did not.

Give us your instant solution?

Restore the Republic. Eject the Democrats anyway you can.

 

[Into the Night]

Oh my



Tell us all how to instantly reverse this trend if you want to win elections

Dissolve the Federal Reserve.

 

[Into the Night]

Economically, inflation - global inflation - was inevitable due to COVID. Inflation started when Trump was in office.

Nope. Inflation started 88 years ago...by Democrats.

Biden has had a year and a half.

And he's STILL blaming Trump!

Anyone who thinks that ANY policy he implemented had immediate effects on the economy doesn't understand economics.

That would be you.

Oh - and inflation will start decreasing this summer.

But the Depression will continue even if it does.

Might be time to worry a bit about the mid-terms.

You are obviously worried about the mid-terms.

 

[evince]

So Polly the cracker says we just have to force over half of America to move out of America


Or maybe he means the world

 

[evince]

Dissolve the Federal Reserve.

Oh and it’s other idea is ending the federal reserve

 

[McRocket]

High inflation is directly caused by Biden. So are all the shortages.

So the ENTIRE reason that prices have gone up drastically is to do with Biden (who is partly to blame)?
Not Congress
or the Fed
or Covid lockdowns
or the Ukraine Invasion
or ten+ years of ZIRP/QE
or Trump cutting taxes without cutting spending
or the Fed having a balance sheet over $8 trillion?

Nope...according to you?
100% of the blame is on Biden.

Congratulations.
You just proved you have no idea how the US economy works
AND/OR
you are SO delusional about 'left bad, right good' that your opinion on this is about as useful as some dude on a planet, 37 million light years from here.

We are done here.
Have a nice day.

 

[dukkha]

Inflation started when Trump was in office.

no, it started when Biden was elected - but jumped beginning when he took office

 

[Hawkeye10]

The CPI lies on purpose, this is the highest inflation anyone alive has ever seen.......and it is likely to get much worse.

 

[Sawyerloggingon]

U.S. consumer prices accelerated in May at the fastest rate since 1981, as Americans grapple with a surge in the cost of gas, food, and shelter, data showed Friday.

The Bureau of Labor Statistics' May Consumer Price Index (CPI) showed a year-over-year increase of 8.6% last month, up from 8.3% in April. Economists were expecting an 8.3% increase in May, according to estimates compiled by Bloomberg.

The biggest contributors to the latest jump in inflation were shelter, gasoline, and food, according to the BLS. The energy index rose 3.9% month-on-month in May, with the gasoline index rising 4.1%. Compared to the prior year, energy prices in May were up 34.6%, the most since September 2005.

Meanwhile, the food index rose 1.2% from April to May and 10.1% over the prior year, the largest jump since March 1981.
https://finance.yahoo.com/news/may-inflation-data-june-10-2022-212834308.html

Not to worry. It's transitory. LOL

 

[Sawyerloggingon]

So the ENTIRE reason that prices have gone up drastically is to do with Biden (who is partly to blame)?
Not Congress
or the Fed
or Covid lockdowns
or the Ukraine Invasion
or ten+ years of ZIRP/QE
or Trump cutting taxes without cutting spending
or the Fed having a balance sheet over $8 trillion?

Nope...according to you?
100% of the blame is on Biden.

Congratulations.
You just proved you have no idea how the US economy works
AND/OR
you are SO delusional about 'left bad, right good' that your opinion on this is about as useful as some dude on a planet, 37 million light years from here.

We are done here.
Have a nice day.

Biden policies have exacerbated the problem.
Hard to have a nice day as my wealth spins down Biden's toilet.

 

[Sawyerloggingon]

the rare stagflation is back and with a vengeance.

buckel up kids, its going to be a bumpy ride.

I've said from the day Biden stole the election he was Jimmy Carter part two.