Posted on 12/09/2021 12:45:21 PM PST by Browns Ultra Fan
The U.S. is poised to enter Year Three of the pandemic with both a booming economy and a still-mutating virus. But for Washington and Wall Street, one Covid aftershock is starting to eclipse almost everything else.
Already-hot inflation is forecast to climb even further when November data comes out on Friday, to 6.8%. That would be the highest rate since Jimmy Carter was president in the early 1980s — and in the lifetimes of most Americans.
And the CPI change since last year, according to the Federal Reserve of St Louis FRED is a staggering 16.262%.
And with U.S. Jobless Claims plunge to 52-year low, its about time that The Fed begins removing the humongous monetary stimulus.
After all, largely thanks to Federal Reserve policies, we have seen the greatest wealth redistribution in US history … to the top 1%.
And away from the bottom 50%.
Way to go Federal Reserve!
(Excerpt) Read more at confoundedinterest.net ...
lol the economy is NOT booming! that’s just inflation INFLATING everyone’s numbers!
So it gives the ILLUSION that we are booming. But it’s just that an illusion
Biden = Carter 2.0 this time with alzheimers!
6.8% my rear.
Shocks!
Spooks!
Noooooo!!!!!!!!!
The redistribution, as it has been since the mid sixties, has been massively from the middle class to the welfare class. Don’t be tools.
Another lying article.
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Total U.S. household net worth rose $2.4 trillion to $144.7 trillion in the third quarter, the Federal Reserve said in its Q3 flow of funds report, released on Thursday.
This is the sixth straight gain in net worth, which was boosted by government assistance during the pandemic. Household net worth stood at $116.8 trillion in the fourth quarter of 2019, prior to the onset of the coronavirus.
The value of real estate rose $1.4 trillion in the third quarter, while the value of corporate equities fell by $300 million.
Everything nearly doubles in price and we’re booming! Everyone will be rich by the time prices triple!
Four more years!
given the deliberate (and perhaps also unintended) massive inflation (debasement of the currency), measuring valuations in constant dollar units is highly deceptive
we must adjust the nominal dollar unit for its (considerable) drop in actual purchasing power, before comparing two “dollar” figures measured at different times, years
just saying that the fact one’s house many have increased in (nominal) dollar value does not mean s/he is any richer in real terms.
and getting a 2 percent pay raise in times of 12 or 15% inflation (currency debasement) does NOT mean one is 2 percent ahead. Rather, it means he is 11 or 13 percent THE LOSER
Respectfully,
Went shopping yesterday at Safeway and today, their prices DOUBLED!!!! Unbelievable. Zucchini is $4.99 per pound for the yellow variety. Lucerne milk is now $4.99 for a gallon vs around $2.50 the other day.
Click pic to go to ShadowStats.com Alternate Inflation Charts page.
I married the widow of one of my good friends. She ended up with a hefty sum of cash that he left with her. The Fed is dealing folks like her a double whammy:
1- Abetting the onset of high inflation
2- Maintaining artificially low interest rates when high inflation is clear
The Fed is effectively stealing from folks who worked hard and played by the rules. The Fed and Biden’s government cronies are stealing from the American people with monetary and fiscal policy big time. They ALL belong in jail.
Just refinanced mortgage to 2.6%.
Yow!
I think politicians been doing that since the invention of politicians.
As a landowner, my wealth has increased along with theirs. I can’t eat it or do much with it other than leverage it if I want. But soon I could be a millionaire!
Let’s go Brandon!
As the article said, the rich are getting richer. When the S&P 500 goes up 42% in a year and the cost of good goes up 7%, the rich win.
The rich always get richer. Or most of the time.
I was referring to and being facetious about the average Joe who now is paying significantly more for everything.
So true. But the people predicting that inflation is here forever are idiots. During the Carter years, inflation hit 13.55%, and like now many pundits predicted that hyper-inflation is here forever, blah, blah, blah. Then came Ronald Reagan and by the end of his first term, inflation dropped to 3.21% and by mid-way through his second term inflation dropped to 1.90%. The prediction of a stock market crash, was just that -- a prediction. And while the markets did not gain much (thereby losing value to inflation) there was never a crash. Most significantly, because of the hyper-inflation, jumbo CDs and zero coupon bonds were paying returns in the range of 10% to 16% depending upon the term, and when inflation crashed under Reagan, these smart investors made a killing on the spread with little if any risk (CDs are insured by the FDIC).
Prices in grocery stores are rising sharply. No doubt about it.
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