Posted on 04/12/2022 6:48:12 AM PDT by Browns Ultra Fan
The US inflation numbers were released this morning and they are grim. Inflation YoY grew to 8.5%.
With 8.5% YoY inflation, REAL average hourly earnings growth fell to -3% YoY.
And with The Fed intent on extinguishing their part of the inflation, Bankrate’s 30Y mortgage rate rose to 5.14%.
Energy is the biggest culprit (fuel oil up 70.1% YoY) thanks to the double whammy of 1) Russia’s invasion of Ukraine and 2) Biden’s restrictions on oil and natural gas production. Food at home is up 10% YoY.
The Taylor Rule model now says that The Fed Funds Target Rate should be 11.90%. Hence, Fed Stimulypto is still in place with the signal that rates will increase.
How about WTI Crude and Brent Crude soaring over 4% today?
Once again, the Four Horsemen of the Inflation Apocalypse (Biden, Powell, Pelosi, Schumer) overstimulated the economy and financial markets with excessive monetary stimulus (Powell) and excessive Federal spending (Biden, Pelosi, Schumer) where demand soared for products and supply naturally hasn’t caught up.
(Excerpt) Read more at confoundedinterest.net ...
Psaki: Putin did this.
Darn that Putin!
Biden is the smartest stupid person ever, he has managed to damage the U.S. in ways Obama only dreamed of ...
Nothing means incompetency as much as “DemocRAT”.
But hey, we are SAVING THE PLANET!
Pence did this.
I expect gas to go down until November. I mean, it IS an election year.
Meanwhile the side by side at Lowes went from $8000 to $10000 this week.
I’m concerned with commodity prices. (Contracted a traunch of corn at $7.08 recently)
Finding this interesting:
Liquidity in commodity markets is “collapsing,” said Goldman Sachs’ head of commodity research. This creates greater volatility in the market that further weakens liquidity, making volatility even higher, Jeff Currie said.
It’s been going on for a while.
I was listening to Art Laffer earlier today saying if the Federal Reserve really wanted to deal with inflation, they would have short term interests above the rate of inflation somewhere in the 11-12% range, I would agree with that, but given it’s an election year, the Fed will keep rates in the 4-5% range which will do nothing to stop inflation.
Covid (deep state/demonrats/CCP collusion)
did that.
The whole reason Brainless Joe is in the White House is because he is brainless. No thinking person would want to go down as the president who wrecked the country. Which at this point is obviously what the Democrats are doing.
After all, their foot soldiers spent the summer of 2020 chanting No borders, No walls, No USA at all. (Notice how they have been de-activated now?)
And, right on cue, another “mass shooting.”
What’s bad for main st. is good for wall st.?....dow +250
Obama said it best: “Never underestimate Joe’s ability to f___ things up.”
Biden was right, inflation was transitory. It went from bad to unbelievable.
Bidenflation!
Party like it is 1979!
Buddy can you spare a dime
Biden is the smartest stupid person ever, he has managed to damage the U.S. in ways Obama only dreamed of ...
*************
Your point is well taken. For all his blundering and babbling Biden has sure managed to wreck a lot of havoc on the country.
This is beyond being due to sheer incompetence.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.