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

Sawyerloggingon said:
That's fair enough. Biden is like the captain of an old sailing ship in stormy seas that got the job through political connections and has no idea how to sail in anything but beautiful weather.
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Never Was Any Good Biden is too far gone through decline of age to captain anything, it is time for all of us to get honest about this. Biden in President in name only, someone else is running things.
 
BartenderElite said:
How about explaining what he did? As Dukkha just stated, inflation started before he even took office, and jumped right when he took office.

Show us some economic prowess - what policy or policies did Biden and the Dem Congress pass that had an IMMEDIATE effect on our economy?
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I said it started to rise when Biden was elected,and then jumped when he took office.

There was too much COVID spending under Trump - blame Congress.
But then Biden added 2.1 trillion MORE - on a partisan line vote

a fair way to put it Biden poured gas on the fire -but he's still calling it the "Putin price hike"
 
anatta said:
I said it started to rise when Biden was elected,and then jumped when he took office.

There was too much COVID spending under Trump - blame Congress.
But then Biden added 2.1 trillion MORE - on a partisan line vote

a fair way to put it Biden poured gas on the fire -but he's still calling it the "Putin price hike"
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So, it jumped as soon as he took office. And it's a result of his policies.

Good understanding of economics there.
 
and if yo use the same formula as they did back in Carter's day...

• I N F L A T I O N - FLASH (June 10): May 2022 Annual CPI Inflation of 8.6%, and Annual ShadowStats Alternate “Corrected” CPI Inflation of 16.8% jumped to respective new 41- and 75-year historic highs, on top of rebounding gasoline prices.
 
Sawyerloggingon said:
That's fair enough. Biden is like the captain of an old sailing ship in stormy seas that got the job through political connections and has no idea how to sail in anything but beautiful weather.
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More like a pirate that stole a sailing ship and doesn't know how to sail.
 
archives said:
There is no evidence, even Trump's closest circle, those rooting for him and closest to the scene, told him there was no evidence, never was any evidence, you swallowed a lie, still are still swallowing a lie
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Argument of the Stone fallacy. Evidence has already been shown to you. You can't wish it away.
 
It was nice to hear Tucker tonight talking about how inflation is here on purpose because this is the only way out of all of the debt that has been piled up..... pay it of with inflated dollars....which is a form of default. What he did not say I dont think is that they know how much pain this causes us and the nation, but they cant be bothered to even pretend that they give a fuck.
 
Hawkeye10 said:
It was nice to hear Tucker tonight talking about how inflation is here on purpose because this is the only way out of all of the debt that has been piled up..... pay it of with inflated dollars....which is a form of default. What he did not say I dont think is that they know how much pain this causes us and the nation, but they cant be bothered to even pretend that they give a fuck.
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Whether it's a debt crash or a cash crash it's causes much pain and misery.
 
I told you at the jump that "inflation is transitory, dont worry, it wont be a problem" was a straight up lie.
 
dukkha said:
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
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Thanks Trump! Man he really handed us a wrotten fish sandwich did he not?

Fuck twump man. He really screwed us!
 
dukkha said:
Surging food, gas and energy prices all contributed to the gain, with fuel oil up 106.7% over the past year.

Shelter costs, which comprise about one-third of the CPI, rose at the fastest 12-month pace in 31 years.

The rise in inflation meant workers lost more ground in May, with real wages declining 0.6% from April and 3% on a 12-month basis.

Friday’s numbers dented hopes that inflation may have peaked and adds to fears that the U.S. economy is nearing a recession.

The inflation report comes with the Federal Reserve in the early stages of a rate-hiking campaign to slow growth and bring down prices. May’s report likely solidifies the likelihood of multiple 50 basis point interest rate increases ahead.

“Obviously, nothing is good in this report,” said Julian Brigden, president of MI2 Partners, a global macroeconomic research firm. “There is nothing in there that’s going to give the Fed any cheer. ... I struggle to see how the Fed can back off.”
https://www.cnbc.com/2022/06/10/consumer-price-index-may-2022.html
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Thank you for bringing this up! Can you believe what trump did with his tarriffs and threatening foreign countries. He broke our supply chain and destroyed the great economy Obama gave us!

You must be really angry with Donald J. Trump and his crime family for screwing America.
 
dukkha said:
Biden and Treasury Secretary Janet Yellen both have emphasized that much of the responsibility for lowering inflation belongs to the Fed. The administration has largely denied that the trillions of dollars directed toward Covid aid played a major role.

How much the central bank will have to raise rates remains to be seen. Former Treasury Secretary Larry Summers recently released a white paper with a team of other economists that suggests the Fed will need to go further than many are anticipating. The paper asserts that the current inflation predicament is closer to the 1980s situation than it appears because of differences in the ways that CPI is computed then and now. https://www.cnbc.com/2022/06/10/consumer-price-index-may-2022.html
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trump put out billions in covid aid. we all got checks, remembrer? I got two because I have kids.

Did you complain about the covid aid under twump? Why not?
 
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