Posted on 05/24/2021 8:42:14 AM PDT by The Houston Courant
Gasoline prices have reached their highest level since 2014, still a month before summer. Food has gotten 3.5 percent more costly than it was last spring. Transportation and furniture costs are soaring. But Americans beginning to feel squeezed by inflation have a president whose advisors and friendly press offer words of solace. Judge for yourself whether they sound comforting.
Economist and New York Times columnist Paul Krugman maintains that “policymakers should keep their cool…” about the nearly 4.2 percent April increase in the Consumer Price Index (CPI), which looks to him “like a temporary blip, reflecting transitory disruptions as the economy struggles to recover from pandemic disruptions.”
What the author of that commentary is missing (besides a thesaurus) is a clear perspective on how what he calls “transitory” inflation can impact economically burdened families. And Krugman is not alone. In the weeks since inflation hit, “transitory” has seen more usage than any other term in the policyspeak lexicon.
Council of Economic Advisers Chair Cecilia Rouse earlier this month told Fox News that she and her colleagues “expect that there have been supply chain disruptions that will cause some transitory increases in prices.” White House Press Secretary Jen Psaki had the strange notion to directly (and accurately) attribute some of the current inflation to Joe Biden’s spending policy: “The expectation from economists, both inside and outside of the government, is that the impacts of our proposed investments are transitory, are temporary, and that the benefits far outweigh the risks. We look at it, certainly, through that prism.”
(Excerpt) Read more at houstoncourant.com ...
We need to have inflation for two weeks to flatten the curve.
“Food has gotten 3.5 percent more costly than it was last spring.”
BS!
20% easy.
In April, the median price of existing homes increased 20.3 % over the last 12 months.
Kick off continuation of XL and Wall construction.
It depends what you purchase. Beef is up 63%. Anything that is made from corn or eats corn is up 30% or more.
I guess borrowing and printing trillions of dollars has nothing to do with inflation. Those problems are not transitory.
Kind of like the “transitory” virus period.
The fake news is already creating cover stories for Biden.
The local media today said we were going to pay more for coffee and orange juice because....wait for it....a drought in Brazil.
We’re all gonna die.
lol
Spin, spin, spin, spin and more spin.
I can see plug’s henchmen now conjuring up things to tell us fools to make us believe there are no problems. Don’t believe your lying eyes and all that crap.
Gas has gone down almost a dime this week where I live.
biden will bite his lip and tell us he feels our pain
he is a plagiarist after all
Yeah. This will not be transitory. It’s also just barely getting started.
If by “transitory”, they mean ten years, then yeah, it’s transitory.
Oh, I forgot the “It’s all relative” argument.
“We look at it, certainly, through that prism”
They should all be looking at it from from a PRISON.
At 2% per year, inflation destroys one half the value of the U.S. Dollar every 36 years.
How, exactly, is that currency destruction good for the American economy?
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