Posted on 07/17/2022 3:26:27 AM PDT by Libloather
The June inflation numbers are a disaster, coming in at a 40-year high of 9.1%.
After the Biden administration’s repeated victory laps crowing about “ the fastest-growing economy in the world ” and how we’re “ stronger economically ” than ever, the downward spiral is feeding a growing consensus that President Joe Biden and his Democrats in Congress are actively making things worse.
According to official numbers , prices rose 1.3% on the month, which translates to an annualized pace of nearly 17%.
Controlling for manipulated housing statistics , the numbers are even worse: 1.7% on the month , which comes to 22% annualized.
These price hikes are crushing families. Real wages are down 3.7% over the past 12 months, nearly a 40-year record, meaning a typical family now pays more than $1,900 a year in inflation tax.
Ominously, the June figures show huge price jumps in staples such as flour, eggs, and butter that are essentials for families.
Meanwhile, the broader economy is flashing warning signs.
On July 12, the widely watched NFIB Small Business Optimism Index fell to its lowest level since the 2008 financial crisis. The index now is substantially lower than the recessions in 2001 and 1991, in fact lower than the worst depths of the COVID-19 lockdowns. Small business, the lifeblood of our economy, is on life support.
It wasn’t supposed to be this way.
Given last year’s inflation, Wall Street and the Fed expected the year-on-year number to slow down , especially as they thought price hikes were caused by COVID-19 and would go away soon. Instead, inflation is accelerating.
Indeed, Federal Reserve Chair Jerome Powell in effect threw up his hands, admitting recently: “We now understand better how little we understand about inflation.”
(Excerpt) Read more at washingtonexaminer.com ...
I think this will be an extraordinary time for Christians to share Jesus. Some people need to be moved from a comfort zone before they can hear the Word. I think about everyone will soon be far from the comfort zone. While we do have political and economic problems in America, the root of our problems is spiritual.
It’s now costs about the same to go out to eat (or take out) than to shop, cook, clean-up after words making meals for yourself or for two. A family maybe it is still cheaper to roll your own and to eat in, but the delta is shrinking.
It sure seems so. All the inflation numbers they show for things that folks buy every day are well into the teens yet the number given is less than 10%.
Of course it is...’official government numbers’ are ALWAYS BS. Always.
“It’s now costs about the same to go out to eat (or take out) than to shop, cook, clean-up after words making meals for yourself or for two. A family maybe it is still cheaper to roll your own and to eat in, but the delta is shrinking.”
Delta is shrinking. Still cheaper for wife and I to cook our own. But I cringe every time I turn on oven or dishwasher given the price of electricity. We are close to stores so gas for shopping is not to bad and we are eating our way thru pantry and freezer anyway. We ask ourselves “do we really need to buy that” or do we have some ok substitute on hand.
I’m good. Gasoline prices are declining - well they aren’t at my station, but I am told by the experts they are.
Consensus? It's a law of economics - more money chasing fewer goods - prices rise. There is a growing consensus the sun sets in the West.
Sadly the American people...”VOTERS” did this to themselves...now let them suffer for their foolishness...period!!!
Where do they get 9%? It seems more like 30%.
2 Jurassic Park burgers at Hardee’s cost me nearly $18 two weeks ago.
And now some gal backed into my old but reliable car yesterday so here we go.
I just want my car fixed and a rental. I’m not going into work because I have to go through some sketchy areas to get there.
All prayers appreciated. 🙏
Definitely it’s 25% if you look at basic foodstuffs
(It is too late to be stopped.
Prepare for a wild ride in dark and unknown sewers.)
That’s why I expect Satan’s anti-messiah can’t be too far off from his debut.
World ‘Peace and Security’.
The Bible shows where the world 🌎🌍 is headed.
COVID-19(84) QR codes and wearing a device on your wrist are telling us what path the world 🌎🌍 in on.
Most morons are not mean, vengeful and corrupt.
Paperpusher, you are so right about this being an extraordinary time to share Jesus. Our pastor is doing a series on I Peter right now. His sermons are broadcast on our little town’s radio station so hopefully it’s reaching some who have not yet understood the Good News. He too thought this was a good time to share Peter’s letters that were written to persecuted Gentile Christians, reminding them that they are chosen by God and have a future hope in Jesus. Peter offers hope to persecuted Christians and guides them with practical instruction on following Jesus. So many unbelievers as well as Christians are very fearful of what is happening right now. And there is a way to live without the fear, secure in Jesus Christ.
Let’s pray for each other that we will have opportunities to to share more with people around us.
My best returning asset in 2022 is the meat that’s been in my chest freezer since mid-2021.
I have no idea how people are doing it without the LORD. And things are only just ramping up.
Keep looking up! Luke 21:28
You have a great gift of encouragement towards others from the Lord. Thank you for your post.
The democrats do not count energy prices or food in figuring inflation. So much higher then stated by them plus they lie about that number as well.
Note the last time gas prices went up was during the obama/biden administration.
In 2020 the average price of gas was around $2.00
In 2022 January onward... 3.413 / 3.611 / 4.322 / 4.213 / 4.545 / 5.032
California price April 30, 2020 / 2.827 !
Prices are now regularly over $6.15 and sometimes over $7.00 !!
Here are 2 links to charts showing historical gas prices.
US prices:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
California prices:
https://ycharts.com/indicators/california_retail_price_of_gasoline_monthly
The hour is very, very late.
🕚🕚🕚🕚🕚🕚🕚
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