Posted on 07/30/2021 8:45:11 AM PDT by rktman
The U.S. Bureau of Economic Analysis (BEA) released key data from June on Friday, and the news isn't good. The Federal Reserve's preferred inflation gauge showed the personal consumption expenditures (PCE) price index "increased 4.0 percent from one year ago, reflecting increases in both goods and services" as "energy prices increased 24.2 percent while food prices increased 0.9 percent."
When calculated without food and energy, "the PCE price index for June increased 3.5 percent from one year ago" according to the BEA, and that jump is raising eyebrows as the index's biggest move since 1991.
(Excerpt) Read more at townhall.com ...
The index is rigged in dozens of ways to understate inflation.
If it shows 4% the real inflation rate is at least double that.
So after all the numbers they threw at us, and if I understand it all correctly, the bottom line is that inflation is at its highest in 30 years. Isn't Communist/Dem rule wonderful? [/sarc]
Remember last year while campaigning Trump was saying the economy in 2021 is going to set new records, explosive growth, new jobs...I believed him 100%, that’s exactly what would have happened. Instead we got this shtbag who is going to lead us right into another depression. Thanks a lot DemoMarxists.
BS. They have up gone at least 10%!...............
Jimmah Carter is back - but this time he’s a senile
doddering old man at the start of his presidency... He doesn’t see large bunnies or lust in his heart, but he sniffs hair and lies about everything...
Yep, it’s stagflation time...
Most people can feel the effects of it by now, and it’s only going to get worse. The biggest problem with inflation is that salaries never inflate at the same rate, so when you look at purchasing power parity, nearly everyone becomes more poor during inflation.
Even the Fed’s target of 2% inflation is way too high. They should be seeking <1%. And they should be beating FedGov over the head for tossing helicopter money out the window. That’s like sticking sawdust in the gearbox. Sure, it covers up the problem for a short time, but afterwards you’ve got even bigger problems.
“Biggest jump since 91.”
I call BS on that one. I was around in 91, and this is far, far worse.
> The index is rigged in dozens of ways to understate inflation. <
Right. So I’m guessing the Fed will respond to these new numbers by re-rigging their “preferred inflation gauge“.
Look! Delta variant!!!
Send 5 bus loads of illegals from high covid rate countries to DC to have 'lunch' in popular DC restaurants.... then to tour the White House and Congress...
Show Nancy, AOC and Bernie how WE feel having covid infected illegals dumped in our neighborhoods...
Eff white-trash DC 'elites'....
The Fed’s job is to lie to the sheeple.
How do you know they are lying?
Their lips are moving.
We just bought groceries last night. Should have been about $350 but was $400. I’d say it is easily 10% or more of an increase. Meat was probably the biggest factor in the extra cost.
Add to this “cheery” economic news the facts that (1) illegal immigration is a runaway train pouring into the nation, (2) many people are not going back to work due to over-generous “safety net” payments, and (3) Dem officials keep issuing assorted dictatorial mandates across the country, and we have a near perfect storm to totally crush our economy.
That's the #1 reason I installed a bunch of solar onto my house. The Dims' version of "green energy" means green for their pockets. By doing my own solar and producing most of the electricity I consume, I lose less sleep when the Dims jack up our energy costs to try to force us to repent from our cow farting carbon sins.
Yes, Since I had heart surgery I only eat chicken and fish, no pork or beef.
Fish is skyrocketing....................
More like 4x that.
Housing alone, most folks’ biggest expense, up a quarter, gas and autos about as much, pork up 50%, etc., etc.
Fish has been crazy for some time. Lobster astronomical. Pork and beef up significantly. Lobster and pork shipped to China?
I noticed that salmon and others are up at least 33%....................
Whatever the giverment spews out is a lie.
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