Posted on 12/14/2021 11:05:58 AM PST by JV3MRC
The core indexes for U.S. inflation just continue to soar to the moon, while the media behave like apostles for President Joe Biden’s leftist economic agenda and spin bad news in his favor.
The Bureau of Labor Statistics reported at 8:30 a.m. that the Producer Price Index for final demand, which “measures costs” from the perspective of the industries that make products, skyrocketed a whopping 9.6 percent in November. CNBC said the PPI spiked at “the fastest pace on record.” The results beat economists’ expectations of a 9.2 percent increase, according to CNBC. This immediately follows the recent spike in the Consumer Price Index, which went up 6.8 percent for the fastest rate of increase since 1982.
The media-at-large, meanwhile, have attempted to change the narrative on spiking inflation to downplay its severity. For example, New York Times economist Paul Krugman recently put a nonsensical twist on inflation, “‘Inflation especially hurts the poor’ has truthiness — it sounds like it should be true. But I don't see either evidence or a mechanism.” Nothing to see here, right Krugman?
(Excerpt) Read more at newsbusters.org ...
“while the media behave like apostles for President Joe Biden’s leftist economic agenda and spin bad news in his favor.”
Which is exactly the marching orders they were given by the WH. Why so surprised?
The sad part is that the news is spun, and the public believes the spin over what they actually experience.
multi-millionaire talking heads largely unaffected
I just came from my weekly perusal of my local Safeway’s weekly online sales flyer. Holy cow! Prices have been creeping up steadily, noticeably, week to week, for some time now, but they’ve shot up wildly this week. Wow.
Yep. We actually kept our prices fairly level for 12+ years with only minor increases.
As of January 1st we are raising our prices between 15% and 20%.
Why?
We used to have high school and college kids that would work part time for us for $8 an hour. Within two years the state has raised the minimum wage to over $10 per hour and it will be over $11 next year. Most kids now want $15 an hour.
Cost of goods has gone up on average 8% this year with a 5% to 10% increase coming in January.
Transportation costs are insane. We used to be able to get a container of goods shipped for about $2000. Now, if we can get a container, the same amount of goods is over $20,000 to ship.
It is going to get very, very bad, very, very fast.
A couple of my liberal relatives have been talking about this spike in inflation. And they are blaming it entirely on Covid. I have tried to gently point out to them that there was Covid last year too. But inflation was tame back then. So it ain’t Covid that’s causing today’s mess.
Sigh. It’s like talking to a bunch of rocks.
As in sports, these records are made to be broken.
US debt ceiling on a fast track to being broken today, for example.
The BBB bill will fix it.......................
I just had to buy a replacement car battery. Wow, have they ever shot up in price since I last bought one!
Hold it, hold it! This can’t be right, since on Saturday the Cadaver in Chief declared that inflation had peaked at 6.4%. So 9.4% PPI increase must be FAKE NEWS! /s
Quit insulting dead people.
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