Consumer prices rose by 6.8% in November over previous year, Labor Department ... The number marks highest annual inflation rate since June 1982

https://justthenews.com ^ | By Just the News staff Updated: December 10, 2021 - 9:13am

[rlmorel]

The difference is that in 1982, inflation was COMING DOWN from even further highs, I am willing to bet. The next milestone will be “highest inflation levels since 1980” then...”highest inflation levels since 1979” and so on.

Today, we are simply GOING UP through to higher inflation levels.

[C210N]

What’s the problem here? Wall street is wetting its pants this morning - up $170 in 10 minutes of trading.

Seriously, the market has been nuts for the last year, up on awful news, down on good news.

[Pete Dovgan]

Shocked I say shocked.

Doing the same stupid stuff as Jimmy Carter and expecting a different outcome...

We, as a nation, need to remove the safety net known as welfare. Or at least limit the safety net to 5 years maximum. Do that, along with a balanced national budget amendment, and we can actually keep our Republic.

[Uncle Miltie]

Inflation means more dollars chasing a relatively fixed supply of stocks.

[Bon of Babble]

Inflation is far worse than the government is admitting:

According to Shadow Stats:

The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980.

In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.

http://www.shadowstats.com/

[DAC21]

3...2...1. Joey’s on the phone today telling that old hag Yenta Yellen to make a speech that all is well, don’t believe your lying eyes

[1Old Pro]

Joey’s on the phone today telling that old hag Yenta Yellen to make a speech that all is well, don’t believe your lying eyes

They blame their multiple failures on the Wuhan Flu, which is why they love to focus on it ad nauseum.

[Red Badger]

IOW, they moved the goalposts.....................

[Vermont Lt]

I graduated from college in ‘82.

For those of you who were not around then...1983 was no piece of cake either.

While the CPI is a lagging indicator...just wait until interest rates start ticking up. And THAT lasted well into the late 80’s (my first mortgage in ‘88 was a 14% 1 Yr Adjustable.)

Strap in. This will be “fun.”

[Starboard]

The real rate of inflation is much higher than the BS number.

[Delta 21]

Bring on the MALAISE !!

[Leaning Right]

> Inflation means more dollars chasing a relatively fixed supply of stocks. <

Plus those dollars literally have no other place to go. You can’t build wealth by buying CDs paying 0.25% or bonds paying 0.5%.

Eventually the system will right itself. Then look out below. But that might be years away.

[Red Badger]

All this after only 11 months in office!.....................

[griswold3]

The wealthy celebrate this Inflation on their assets increasing their riches. Elizabeth Warren is salivating at the prospect of the massive taxes the government could collect due to the larger numbers all around.

Inflation is a moral problem is something for nothing. A form of theft. A form of unlegislated tax. -Jim Grant

[JLAGRAYFOX]

Thanks, Low life, America Haters & Destroyers, Democrats, Joe Biden, Kamala Harris, Hunter Biden, Jill Biden, Nancy Pelosi, Chuck Schumer, Traitor, Mitch McConnell!!! Wake Up, Wise up, American people, these disgusting people are neither your friends, allies, or freedom fighters!!! Get rid of them...remove them from from holding public office period!!! Case Closed!!!

[Red Badger]

I financed a truck in the 80’s for 15%.......................

[Starboard]

Folks, we are at 10%.

************

By some measures (which are no longer used because they are too representative of reality) inflation is much higher than than that.

For personal planning purposes, assume its about 15%. That’s the kind of damage it is doing to your income.

[lgjhn23]

Bidenflation....
Let’s Go Brandon!!!!

[Vermont Lt]

Those were the days, no?

My daughter bought a house in July. Their mortgage is less than 3%. I told her in two years she will think she was a financial genius as the rates will likely be twice that.

But she is not financial genius yet to realize her house price is going to drop like a rock. I don’t want to disillusion her yet.

[woodbutcher1963]

My first mortgage in 1990 was 10.375%. Eventually, I refinanced that house down to 6.75%. I owned it for 5 years.

My last mortgage was a 15 year note I took out in 2011 for 2.375%. I paid that off in October. I am now 100% debt free for the first time in 31 years.