Posted on 05/15/2022 7:35:09 AM PDT by Browns Ultra Fan
Americans are suffering under Joe Biden. Call it Inflation Inferno!
Foodstuff are up 61.5% under Biden’s Reign of Error. Gasoline prices are up 85.8%, diesel prices are up 111%. Yet the government inflation index (aka, CPI) is up only 8.3% in April.
But while energy and food prices are soaring, the CRB Spot Metals Index has plummeted -15% since May 4 as Covid is ravaging the Chinese economy. Recession alter anyone?
And then we have soaring home prices and rents. But notice that Zillow’s Rent index is slowing down as mortgage rates soar.
On the currency front, the Russian Ruble is soaring relative to the US Dollar while the Chinese Renminbi, the Japanese Yen and the Euro (or in this case, the Gyro) are sinking like a rock.
If I compare the Russian Ruble and Ukrainian Hryvnia, you can see Ukraine is losing the currency war with Russia.
Inflation Inferno thanks to Biden’s misguided energy executive orders and cancellation of Alaskan and Gulf of Mexico drilling leases.
Biden’s economic mismanagement team: American Gothics Treasury Secretary Janet Yellen and Fed Chair Jay Powell.
(Excerpt) Read more at confoundedinterest.net ...
Buckle up. The dance has only begun.
A recession is coming, but I don’t know when it arrives. The savings in the US economy, the cash horde on corporate and on personal balance sheets, mean that it is going to take some time to burn through that before US consumers really start to retrench, and only then will inflation really come down.
This economy needs pain to get rid of inflation, and it is going to receive pain. Be prepared. Reduce consumption now. Save your cash for later when things - cars, homes, vacations, etc - are cheaper than they are today.
Invest in lead.
Dems control all three branches of government, but somehow none of this will be their fault. Amazing how that works.
Diesel is absolutely insane. I drive a truck for a living and here in NY it’s almost $7 a gallon now and diesel more than regular gas drives the cost of everything else up as well as it costs a fortune now to deliver goods.
I had one customer yell at me last week “I’m pointing at you as to why my customers are complaining about rising prices”. Are you kidding me? So my company should just eat the 50% rise in delivering goods. FIFTY PERCENT! I have two tanks on my trucks, during Trump it cost $300 to fill up both, now $300 only fills up one and being that the Biden occupation cancelled more drilling leases last week I don’t see any end to rise, I would not be surprised in the least if it goes to $10 and above.
The Biden occupation doesn’t care, they have no fear of losing the midterms as absolutely nothing has been done about election integrity. I fully expect as we near November a new strain of Covid will suddenly show up, the ridiculous mail in ballot BS will be used and once again ballot stuffing will happen.
If you’re not living BELOW your means now, you’re gonna learn to real quick!
I welcome this. I WANT it to hurt. I want it to hurt BAD!
And I want President Trump back where he belongs!
Cheater, Socialist Democrat, Evil JERKS!
But this isn’t Biden’s fault. None of the inflation, shipping, Afghanistan.
He said so.
I’m going to start openly confronting people at the gas pump every time I fill up. Ask if they vote dem and are responsible for this. Idjits.
That’s a great idea. Spread a little rancor to make America great.
Stagflation on steroids. Jimmy Carter was a piker.
The worst days of the Great Depression did not come at the beginning, it really became devastating when FDR introduced his “National Recovery Act”, followed by the “New Deal”. The depression was worse in 1938 than it was in 1933, when FDR was swept into office.
Only opening up war production plants finally ended the worst effects of the Depression. WW II ended the unemployment problem, by sending the young men into battle and the young women into the defense plants.
Economic chaos, then finding a war to fight somewhere. We have seen this show before.
Gosh. Where could we possibly find a war in 2022? Who would we fight? Such a mystery.
You are correct. They’ve perfected the steal. It’s going to be trivially easy for them to hold on to control.
Save your cash for later when things - cars, homes, vacations, etc - are cheaper than they are today.
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That certainly was a good philosophy/strategy to have in the 1930s... people with cash could buy in cheaper later. I would argue that in the 1970s, this was a far less effective strategy. As for the 2020s, there’s a possibility that it won’t work at all as the value of money may erode to (or be forced to) about the value of a warm bucket of pi$$....
My fuel surcharge rates that I charge per load are currently at 51% and rising. Unlike you and I who drive trucks for a living, few understand how diesel is part of every commercial transaction in the supply chain.
Worldwide.
For me, the chicken/egg producers that I deliver propane to are all waiting for the summer price drop that used to occur annually- I keep telling them to fill their tanks now because this year the price is just going up. Same with the cherry and apple orchards who had to deal with a long period of frost during the spring bloom and heat their fields.
Agriculture uses a lot of diesel. Then we use diesel to get crops to wholesalers. Wholesalers use it to get crops to markets. All along the chain, the rising cost of fuel is driving much of the inflation we see every day.
Because of Biden’s policies.
Metals down 15%. Maybe but not for the end user like me. Any savings is offset by the new shipping rates. My usual aluminum has tripled since the child sniffer in chief was installed.
A friend who owns a medium sized business tells me he has tools on backorder since September. He has no reason to buy more if they can't ship the first orders anyway.
Anecdotal, yes, but I've got stuff on backorder until July.
Something's building.
Depends on the metal. I haven’t seen any drops, but common grades of stainless seem to have stabilized. More exotic corrosion resistant metals are still climbing due to the price of Nickel. I price metals all day, every day. And as somebody else mentioned, the price of aluminum has tripled.
How many lost 2 years because of Covid, I wonder what future cost that will have on SS recipients?
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