Posted on 07/12/2021 9:17:05 AM PDT by JV3MRC
A new report by The Wall Street Journal blew apart the liberal media narrative that spiking inflation under President Joe Biden would only be a temporary issue.
The Journal reported that “Americans should brace themselves for several years of higher inflation than they’ve seen in decades.” The assessment was based on the newspaper’s survey of economists this month. On average, respondents are now expecting “a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before,” The Journal said. In addition, “They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023.” The prediction means “an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.” So much for New York Times economist Paul Krugman’s absurd assertion that skyrocketing inflation would only be a “transitory” phenomenon.
(Excerpt) Read more at newsbusters.org ...
Butt, butt, butt pedo joe sees no evidence of that. Or that substantial benefits for unemployment keeps people from seeking jobs. Oh, and the jab is guaranteed safe and effective. And if it’s not, too bad.
King Schadenfreude shall rein for decades because of the swamp’s plunder and ruin of our country. I’m investing in lamp post and rope makers.
Classic! Loved that skit.
Hey! C’mon, man! You mean we can’t shut down our economy, print money like crazy, AND Whip Inflation Now?
Inflation is the biggest tax of them all and tragically it is now one that our government must do because they have borrowed too much and want to borrow more for endless spending.
Reagan’s biggest failure (and I love the man dearly) was not forcing the fight with Tip Oneill, Foley, and others on the hill. Reagan’s almost divinely inspired belief that he could break the USSR was his #1 goal and he needed to greatly increase defense spending. The rats realized they could get what they wanted also and the days of “beans or bullets” ended and everyone in DC got what they wanted.
It has changed little and now there are only a handful in our government who will say “no” to spending. Everyone gets what they want for the most part and our kids are left with the bill and repercussions that they will still be paying for after you and I are dead.
Inflation is here to stay unless we killed entitlement programs and nobody will do that.
Under Obama, the consequences of bad policy were called “the new normal.”
Then Trump’s magic wand.
The reality is that Japan and Europe need inflation. The United States is inflating its own currency to allow the other two to inflate theirs.They have over spent. So inorder to stay in pace, everyone else needs to over spend so they can inflate their way out of debt. Thats why we are having a hard time causing inflation. We have to inflate past them fist. I think we have done that last year. And so now the inflation begins for everyone.
How can you check on this. Watch the currency exchange rates. Even though we are printing wildly the exchange rates between Dollar and both Europe and Japan are not changing much. Normally the dollar printing would cause oil, gold, and other currencies to soar. Thats not happening.
Printing dollars = inflation. All else is deflection and hogwash. And Trump is as responsible for it as anyone.
Send your Euros to CARE. Your modest contribution can help feed the hungry family of a struggling taxpayer in New York or California.(/sarc)
“the liberal media narrative that spiking inflation under President Joe Biden would only be a temporary issue.”
Liberal media reporting if Trump were on office:
“No end in sight for spiraling inflation as woman, children, minorities struggle with sharply rising prices for essential goods and services.”
The news is even worse, because the CPI is NOT an accurate gauge of what it costs the average family to get by...
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