Morning Nets CENSOR BLS Report Showing Biggest Inflation Surge in ‘More Than 30 Years’

The ABC, CBS and NBC morning news shows censored one of the most alarming inflation reports released this year. The liberal media networks’ protect-Biden saga continues unabated.

The Bureau of Labor Statistics released another damning report released at 8:30 a.m. Nov. 10 showing that the Consumer Price Index (CPI) skyrocketed a whopping 6.2 percent on a year-over-year basis in October. The increase was “the biggest inflation surge in more than 30 years,” according to CNBC. The 6.2 percent figure wiped out the 5.9 percent Dow Jones estimate, CNBC said. The price increases “were broad-based in October, with higher costs for new and used autos, energy, furniture, rent and medical care,” according to The Wall Street Journal. Like the derelicts they’ve been, ABC Good Morning America (GMA), CBS Mornings, NBC Today and NBC 3rd Hour of Today all censored the inflation news during their Nov. 10 morning broadcasts.

I received a solicitation in the mail from an auto-dealer that said “driving your older car won’t improve your credit score”. That was a first for me as far as sales pitches go. We’ve gone off the rails with cheap money.

Well, it’s just a few data points but it seems to be running at about 1% a month. If that continues and compounds out to the end of 2022 it’s going to be horrific. And personally I don’t see any real let up at least through the first half of 2022 but probably longer.

Producer input prices were up over 8% last month. That’s huge. Every major consumer goods company has announced price increases but many of them haven’t yet even announced by how much. My educated guess is because they don’t even know how what they can get their hands on, or how to price items without knowing what their costs will be!

There are massive shortages. For the first time in decades suppliers have the pricing power. That’s bad for consumers. People who manufacture are paying spot prices for their input materials, as well as spot prices for transport. Almost nobody is setting contract prices for a full year. That means a lot of volatility and uncertainty for producers - but they too also have logistical problems so they probably can’t commit to pricing either. Just spot prices for everything. Not good.

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