Posted on 07/14/2022 6:39:24 PM PDT by anthropocene_x
In June, the consumer price index (CPI) stood 9.1 percent higher than a year ago. That is worse than things were earlier this year, worse than in 2021, and worse than any time for some 40 years. The picture today makes a dark joke of the White House’s earlier claim that price pressures would be “transitory”—and still more embarrassing President Biden’s insistence that inflation was the fault of supply-chain interruptions or Vladimir Putin’s invasion of Ukraine or the greed of mom-and-pop gas station owners. Instead, the unfolding inflation picture makes it painfully clear that the price pressures have a fundamental and durable basis
The inflation problem goes far deeper than the White House’s casual array of excuses. Those fundamental causes are clear in policy mistakes going back over a decade. They began with the financial crisis of 2008–09. To counter that disaster, the federal government ran huge deficits to help relieve the great recession that followed that crisis. They unwisely persisted in these policies even as the economy and its financial markets began to recover in 2009. And, to a greater or lesser extent, they continued in this direction for all the years that followed.
(Excerpt) Read more at city-journal.org ...
I saw an article that has ICE (Immigration and customs Enforcement) being shut down in October if they don’t come up with $350 million.
Billions to Ukraine, nothing for ICE.
we need to stop blaming Biden and start blaming DEMOCRATS!
Biden is simply implementing the socialist/democratic policies promoted by all democrats.
The only way to fix things is to REMOVE DEMOCRATS from power totally starting this November when we need to sweep the house and senate of their socialist filth.
Because unwinding so many years of bad policy cannot occur quickly or easily, inflation will likely remain a threat for some time to come. For the sake of honesty, public confidence, and the country’s long-term prosperity, Washington would do well at this point to acknowledge the mistakes of the past and commit to robust counter-inflationary policies—aggressive monetary restraint and fiscal discipline to reduce budget deficits.
There is no safe harbor in the coming storm.
But some harbors are safer than others............but which ones?
Terrifying? This party is just getting started you aint seen nothing yet!!
Blame the CCP that controls him. What is truly terrifying is America laying down for voter fraud. We allowed it. Now, we deserve even worse.
AMEN!!! Even Democrats are starting to blame Biden so that they can dump him and the stench won’t stick to them! (However, the Republicans have not been much better. I was surprised that Trump was willing to raise the deficit while he was in office. At least the economy was growing under Trump so the inflation didn’t kick in. I wish he had reduced the deficit.)
(Terrifying? This party is just getting started you aint seen nothing yet!!)
That’s what I’m afraid of.
Hope to buy some $7 Ribeyes 🥩🥩🥩 this week. Been a long time since I had a good restaurant steak. Last one was $21 for a cheap one and it was so-so.
Got $5 KC strips - I’m made a better steak 🥩 with those.
(Inflation is now nothing short of terrifying)
Higher gas ⛽ prices
Higher food prices
War
Thanks, Democrats and NeverTrumpers.
Thanks a lot.
The evaluation at 9.1% in a year is crap falsehood. In the last two years many common grocery items are at 180% of what they were. Gasoline is up 220% of what it was two and a half years ago. Housing is up at least 140% in two years in a majority of areas rural and urban.
Talk of 9.1 percent over one year is bogus games of lying to the voters.
“transitory”
Nope. Not transitory. Cisitory.
None of the reporting, even from conservative sources, mentions the most terrifying aspect of runaway inflation, which is that it COMPOUNDS! 9.1% year over year is bad (and we know the real number is much higher) but if it continues for more than one year it’s 1.091x1.091x1.091…etc. (or whatever the real numbers become). The base for the next year’s inflation percentage keeps rising as well.
“Higher gas ⛽ prices
Higher food prices
War
Thanks, Democrats and NeverTrumpers.
Thanks a lot.”
Exactly.
Sponsored and brought to you by Google, Twitter, Facebook. Enjoy America!!
“start blaming DEMOCRATS”
Republicans are just as guilty.
Inflation is soaring fast, wages are stagnant or declining. Average folks are challenged with the new expenses. Meanwhile the democrat congress is busy trying to make sure Trump doesn’t run in 2024.
Exactly.
He’s only a “tool” in all meanings of the word.
There are many around us who are arrogant about how they “save the planet from climate change” and “stop the extreme GOP.” So self-satisfied. I want to alter that unearned state for them while I live.
The under $1 Taco Bell bean burrito side item went to $1.79 here and suddenly is $2.89 ——not much food without beef or chicken. Apparently all the restaurants and fast food joints are suddenly boosting prices to stay in business.
Just love it, don’t you, Dems? Screw off, a-holes.
My heating oil on this year’s budget plan is almost 100 dollars more per month than last year. A 90 % increase. We will be able to afford it but so many others will not. I hope I can keep my part time employment for a few more of my retirement years...we’re going to need it.
It’s short of terrifying (save that for later); but it is pretty bad. The unprepared are gonna fail.
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