Posted on 07/13/2021 8:45:07 AM PDT by conservative98
The thinking of White House officials is that a recent inflation surge could last for some time, but that the spike is ultimately transitory and will clear up once widespread bottlenecks that have severely disrupted the supply chain begin to dissipate.
The government reported Tuesday morning that prices for goods and services jumped by the most in 13 years, fueling concerns that a rapidly rebounding economy could lead to runaway growth. The Labor Department said in its monthly report that consumer prices rose 0.9% from May and 5.4% over the past year.
Excluding volatile oil and gas prices, so-called core inflation jumped 4.5% over the past year, the largest increase since November 1991.
The pickup in consumer prices has coincided with the economy's stronger-than-expected recovery from the pandemic as Americans, flush with stimulus cash, eagerly start spending again, splurging on everything from vacations to new clothing.
While the Biden administration feels the price increase could last quarters, not months, until the supply chain bottleneck clears up, it thinks that the spike in inflation has already peaked in some sectors, such as used cars, the price of which soared 10.5% in June – the largest monthly increase since record-keeping began in January 1953.
(Excerpt) Read more at foxbusiness.com ...
See what happens when Joe demands his 10%
used cars, the price of which soared 10.5% in June
while up 40% in total.
Yes, maybe so, but we each saved .16 cents on our 4th of July BBQs!
No doubt my former employer and the SSA will give us a ‘cola’ to help us out. Right? Hello!? Bueller?
Trump is a Wharton alum
He never talks about his far superior economic policies in terms of how he feels or felt
He thinks
But these guys cheated their way in so what can you do?
Remember we have been told that this is just transitory inflation. Apparently if we have transitory inflation, that’s not as bad as other types of inflation.
“...and will clear up once widespread bottlenecks that have severely disrupted the supply chain begin to dissipate.”
“Dissipate” democrats in Washington is the best solution.
Just got back from Costco.
I was flabbergasted at the few items I checked out, pricewise.
Rib-eye steaks were $10 /lb a month or so ago. Now $15/ per lb.
4lb pkg of bacon was $13-14 / pk. Now $19/pk.
LeSueur Early Peas (our favorite) were about .75/ Now about .95/
On the bright side, Rotis chicken still $5.
Mark Levine’s ..American Marxism on the shelf..$16.
The Biden Administration is made up of people who don't know what happened with inflation after the Vietnam War because they weren't born yet, and those who can't remember what happened (like Biden).
Also Dopey Millenial Gender Studies Grad: "Hey, why are you charging me $25 for a stupid hamburger? I can't afford that!"
Yes, and the pandemic. And climate change. And Russian collusion. And accusations of election fraud while covering up election fraud and accusing others of election fraud.
Probably because of the chip shortage for new cars
“Biden administration feels recent inflation burst could last quarters, not months Prices for goods and services jumped by the most in 13 years in June”
Anyone that believes Democrats when they promise not to raise taxes or the cost of living is living in an alternate universe.
That’s part of it. Rental car companies and some businesses and individuals sold off their cars during the lockdown and they are trying to buy everything in sight with free coronavirus money.
Based on the science of “feeling”.
Quick...let’s pump $1.7 trillion dollars into the economy!
/s
The Feds have been increasing the money supply at 38% yearly. The market is catching up and will continue to do so.
This is NOT the USA I fought for. Biden is run by Obama and he knows zip about running a business. He has spent more then any drunken sailor, soldier, etc. In fact, Biden has never had a REAL JOB. Every policy/decision this idiot makes cost all of us and destroy America.
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