Posted on 06/10/2021 12:48:11 PM PDT by MinorityRepublican
Deutsche Bank has issued a stark warning on inflation, after consumer prices in the U.S. rose at a faster rate in May than any time since the Great Recession.
In its report Thursday, the government said that overall consumer prices rose 0.6 percent in May, bringing the annual inflation rate to 5 percent, the highest level since August 2008.
Core inflation, which excludes volatile energy and food costs, rose 0.7 percent in May after an even bigger jump in April, and is up 3.8 over the past 12 months, the quickest rate since 1992.
In a report on this week, Deutsche Bank wrote: 'Rising prices will touch everyone. The effects could be devastating, particularly for the most vulnerable in society.'
'Few still remember how our societies and economies were threatened by high inflation 50 years ago. The most basic laws of economics, the ones that have stood the test of time over a millennium, have not been suspended,' the report warned.
The report expressed concerns that huge deficit spending by Congress as well as the Federal Reserve's loose monetary policy could supercharge inflation rates.
'The current fiscal stimulus is more comparable with that seen around WWII' when deficits ran 15 to 30 percent of GDP for four years, the report said. 'While there are many significant differences between the pandemic and WWII we would note that annual inflation was 8.4%, 14.6% and 7.7% in 1946, 1947 and 1948 after the economy normalized and pent-up demand was released.'
'Monetary stimulus has been equally breath-taking,' the report added of the Federal Reserve, which has flooded the economy with money through bond purchases.
(Excerpt) Read more at dailymail.co.uk ...
Not If the mediapukes have anything to say about it... their narrative is .. it’s all trumps fault! Mark my words.
Could be? Sorry douche bank, it’s already here.
Dems already spinning inflation good under liberals
Your wages go up (if you still have a job)
Your home value goes up (oh you rent - well your rent will go up)
Your gas prices will go up, it will make you drive less, so you are saving the planet
Your food prices will go up, but you are probably fat, so you’re welcome, you’ll eat less now
Your utility bills will go up
Maybe even the places you go and businesses you use, will start adding on new fees and surcharges
Enjoy your Biden vote.
And you end up much poorer. And inevitably growth rates drop and big job losses occur.
This is not the first time we’ve been through this inflation crap.
Happened plenty of times before.
We know how it ends.
Well, they’ll make sure it is only devastating to the “rich” and the “middle class employed taxpayers”. Everyone else will get increases in their welfare benefits, supplemental fees, “tax credits paid monthly in cash” (such as they are going to start doing for child tax credits next month), and subsidies for all living expenses.... in order to keep up with the rising prices. Then some universal $20/hour will be passed, and only a few of us will be left to pay for everything for a huge segment of our society.
Too bad Paul Volcker isn’t in charge. The interest rate set by Federal Reserve is now 0% - 0.25%. We should immediately raise it to 2% right now. And see what happens in 3 months. If that’s not enough to tame inflation, then continue to rate rates.
The first stimulus was approved in March of 2020 only opposed by Republican Congressman Thomas Massie of Kentucky and it totaled two trillion dollars.
And Joe Biden wasn’t president in 2020.
The story as it happened on March 27, 2020...
https://nextrushfree.blogspot.com/2020/03/news-summary-intelligence-report-friday_27.html
But did the majority really vote for Biden? I don't think they did.
Third stimulus of $1,400 was under Joe Biden. Probably won’t be passed under Trump. And more people would be back to work by now. Keystone XL pipeline won’t be cancled.
Carter had a killer rabbit and a Misery Index.
Bidet has killer cicadas, so far.
Today, Macron has raised the idea of selling part of the IMF gold to fund Africa's recovery from the Covid induced economic debacle.
Since the Basil III agreement comes into effect in Europe on June 28, 2021 for European banks and on January 1, 2022 for British banks, is this tactic by the IMF to hold gold's price down as the agreement comes into effect?
A massive sale will put downward pressure on pricing.
Many hold precious metals as a hedge against inflation, so I wonder what in the world is this new game plan going to do?
And I wonder if the IMF is behind Macron.
There are few places to hide from rampant inflation. It would be like the oligarchs to take a sure harbor out of the proles’ hands.
Buckle up, this is going to be BAD.
15% by the end of the year.
25% next year.
It’s baked into the cake.
But the DOW will be at 75,000 and zombie companies that have never made a profit over the last 10 years will have $80 billion market caps.
Getcher Weimar brand wheelbarrows heah
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.