Posted on 12/01/2021 9:25:14 AM PST by weston
Inflation surged 6.8%, even more than expected, in November to fastest rate since 1982
FRI, DEC 10 2021 8:31 AM EST Jeff Cox
FTA
Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.
The consumer price index, which measures the cost of a wide-ranging basket of goods, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.
Excluding food and energy prices, so-called core CPI was up 0.5% for the month and 4.9% from a year ago, which itself was the sharpest pickup since mid-1991.
The Dow Jones estimate was for a 6.7% annual gain for headline CPI and 4.9% for core.
Price increases came from familiar culprits.
Energy prices have risen 33.3% since November 2020, including a 3.5% surge in November. Gasoline alone is up 58.1%.
Food prices have jumped 6.1% over the year, while used car and truck prices, a major contributor to the inflation burst, are up 31.4%, following a 2.5% increase last month.
The Labor Department said the increases for the food and energy components were the fastest 12-month gains in at least 13 years.
Shelter costs, which comprise about one-third of the CPI, increased 3.8% on the year, the highest since 2007 as the housing crisis accelerated.
Markets reacted positively to the report, with stock index futures on Wall Street rising, while government bond yields also climbed. Some economists thought Friday’s report could indicate even sharper inflation of greater than 7% for the headline number.
With unemployment claims running at their lowest pace since 1969 and gross domestic product expected to show strong gains to end 2021 after a lackluster third quarter, inflation remains the biggest problem for the recovery.
The Federal Reserve is watching the data closely ahead of its two-day meeting next week.
Central bank officials have indicated that will begin slowing the help they’re providing in an effort to tamp down inflation. Investors widely expect the Fed to double the tapering of its asset purchases to $30 billion a month, likely starting in January. That would enable the Fed to start raising interest rates as soon as next spring.
President Joe Biden has been paying a political price for surging prices: A recent CNBC survey showed his approval rating stuck at just 41%, due in large part to 56% of respondents who disapprove of his economic record, compared to just 37% who approve.
https://www.cnbc.com/2021/12/10/consumer-price-index-november-2021.html
Thomas said a “high-tech lynching”.
From 10/11/91:
https://www.youtube.com/watch?v=ZURHD5BU1o8
3:40 video
Thomas defends himself against the Anita Hill accusations.
And look who is chairing the Judiciary Committee: the Dementia Patient
Unexpected!
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Breaking911
@Breaking911
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32m
BREAKING: Inflation surged 6.8%, even more than expected, in November to fastest rate since 1982 - CNBC
MAGA Country Poso
@JackPosobiec
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4m
BREAKING: After delay yesterday due to an ill prosecutor, Epstein victim Annie Farmer is expected to testify today against Ghislaine Maxwell
That is scary, praying for your daughter’s safety!
You are such a sweet sister to help him so much :-)
Good morning, lysie!
Lovely breakfast, thanks.
Rained most of the night, no snow yet.
Agreed. They will say anything to get elected. Perdue had 2 months to mention the election fraud prior to the senate runoff vote. He could have showed up at one of the many rallies. He did speak at the last Trump rally in Dalton (the night before the vote) and still said nothing. At one point the crowd shouted him off the stage saying stop the steal or fight for Trump or something like that.
Thanks for sharing your yogurt recipe. I sometimes make yogurt from my goat’s milk. It is delicious! I use my chicken egg incubator to “cook” it in. It has the perfect temp and insulation (of course I sterilize it first, lol)
“Thomas said a “high-tech lynching”.”
Oh that’s right. Thanks for the reminder. And the reminder that Biden has been around around way too long
It’s been nice here. I’m going to Wisconsin for 2 weeks, and I’m starting to think about being in such frigid weather. I like cold weather, but it’s REALLY cold! I may kiss Texas ground when I get back, lol.
Good morning, CB.
Agree that we need a diversion away from all of the craziness of the day.
This is all due to the pandemic, according to Biden experts.
I was wondering when you were going. Seems like summer would be a perfect time!
Thank you, lysie!
I will never be able to catch up on the thread, but just checking in. It has been nuts here - hubby is back almost 100% now, which is good.
FIL’s memory care/AL facility had a water main break/flood so they had to move the MC residents to another facility nearly an hour away. The moving company dumped their boxes so these poor folks were all there unpacked, scared and confused, even a few days later. The whole thing is such a mess, the new staff at the place is really bad. A few of us with loved ones there were unpacking people yesterday and we are all pretty livid. FIL had not had a shave in a week and was not even wearing his own clothes. Just awful. They expect it to take 6 months to get everything fixed, which is crazy. My son’s company does this kind of work and he called them to tell them his crew could have it done in a month but they declined. Our church also called to offer help moving people but they declined. I could not imagine this being handled in any way worse than it is being handled.
Anyway...
I have family coming in this weekend, found out 6 are staying with us so I’m running around cleaning rooms that are rarely cleaned and testing out air mattresses, etc. I love having company but it’s just a lot on top of cooking for Christmas dinner, the farm, etc. I’ve also been converting my in-law’s 8mm film to DVD to give to my husband’s siblings. 10 hours of home movies - can you imagine? It’s a fun project though.
Also, I have updated the young people/athlete collapses/deaths. IMO, this is not normal (I have read a few places that there are an average 4-6 sudden cardiac or sudden unexplained deaths in athletes per year). I haven’t counted the deaths in my list, but there are probably dozens... https://freerepublic.com/focus/chat/3988541/posts?page=266#266
My coffee can was up $2 since last month. I know some of that was due to weather.
AMEN!
Thank you so very much for the APV.
Greenwald: Biden Administration ‘Eager To See Assange Punished’ Over 2016 Election
In a London courtroom on Friday morning, Julian Assange suffered a devastating blow to his quest for freedom. A two-judge appellate panel of the United Kingdom’s High Court ruled that the U.S.’s request to extradite Assange to the U.S. to stand trial on espionage charges is legally valid.
As a result, that extradition request will now be sent to British Home Secretary Prita Patel, who technically must approve all extradition requests but, given the U.K. Government’s long-time subservience to the U.S. security state, is all but certain to rubber-stamp it. Assange’s representatives, including his fiancee Stella Morris, have vowed to appeal the ruling, but today’s victory for the U.S. means that Assange’s freedom, if it ever comes, is further away than ever: not months but years even under the best of circumstances.
Because the acts of Assange that serve as the basis of the U.S. indictment are acts in which investigative journalists routinely engage with their sources, press freedom and civil liberties groups throughout the West vehemently condemned the Assange indictment as one of the gravest threats to press freedoms in years. In February, following Assange’s victory in court, “a coalition of civil liberties and human rights groups urged the Biden administration to drop efforts to extradite” Assange, as The New York Times put it.
That coalition — which includes the ACLU, Amnesty International, the Knight First Amendment Institute at Columbia University and the Committee to Protect Journalists — warned that the Biden DOJ’s ongoing attempt to extradite and prosecute Assange is “a grave threat to press freedom,” adding that “much of the conduct described in the indictment is conduct that journalists engage in routinely — and that they must engage in in order to do the work the public needs them to do.” Kenneth Roth, Director of Human Rights Watch, told The New York Times that “most of the charges against Assange concern activities that are no different from those used by investigative journalists around the world every day.” Shortly after the indictment was issued, I explained in a Washington Post op-ed why the theory on which the indictment was based “would make journalism a felony” (and indeed, just eight months after I wrote that op-ed warning of the dangers to all journalists, the Brazilian government copied the U.S. indictment of Assange and the theories it embraced in its unsuccessful effort to prosecute me for the reporting I did that exposed corruption by senior Brazilian security officials and prosecutors). “Brazil’s Attack on Greenwald Mirrors the US case against Assange,” was the headline used by the Columbia Journalism Review to condemn the charges against me as a blatant retaliatory act against my reporting.
But the Biden administration — led by officials who, during the Trump years, flamboyantly trumpeted the vital importance of press freedoms — ignored those pleas from this coalition of groups and instead aggressively pressed ahead with the prosecution of Assange. The Obama DOJ had spent years trying to concoct charges against Assange using a Grand Jury investigation, but ultimately concluded back in 2013 that prosecuting him would pose too great a threat to press freedom. But the Biden administration appears to have no such qualms, and The New York Times made clear exactly why they are so eager to see Assange in prison:
Democrats like the new Biden team are no fan of Mr. Assange, whose publication in 2016 of Democratic emails stolen by Russia aided Donald J. Trump’s narrow victory over Hillary Clinton.
In other words, the Biden administration is eager to see Assange punished and silenced for life not out of any national security concerns but instead due to a thirst for vengeance over the role he played in publishing documents during the 2016 election that reflected poorly on Hillary Clinton and the Democratic National Committee. Those documents published by WikiLeaks revealed widespread corruption at the DNC, specifically revealing how they cheated in order to help Clinton stave off a surprisingly robust primary challenge from Sen. Bernie Sanders (I-VT). WikiLeaks’ reporting led to the resignation of the top five DNC officials, including its then-Chair, Rep. Debbie Wassserman Schultz (D-FL). Democratic luminaries such as Sen. Elizabeth Warren (D-MA) and Al Gore’s 2000 campaign chair Donna Brazile both said, in the wake of WikiLeak’s reporting, that the DNC cheated to help Clinton.
... will his only hope be to become a woman like Chelsea did?
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