Posted on 09/17/2021 11:01:04 AM PDT by Right Wing Vegan
The rate of inflation in the U.S. rose again in July and drove the increase over the past year to a 30-year high, pointing to new problems for businesses and consumers as the economy recovers from the pandemic.
Consumers who were lucky enough to keep their jobs, are unlikely to have gotten a raise over the last year, so the inflation spike can essentially be seen as a wage decrease. Some people even calling this a “tax” on Americans, low income earners being the hardest hit.
The Personal Consumption Expenditure Price Index rose 0.4% in August, according to the federal government. This is the fifth big increase in a row.
Some companies are trying to avoid raising taxes, and are instead selling smaller quantities of their product.
The Biden Administration has shrugged off concerns over inflation recently, saying it’s only meat and produce. But, those are two essential products to American consumers.
Furthermore, the Democrats continue to introduce massive spending plans as a way to curb inflation, but it doesn’t seem to be working.
(Excerpt) Read more at kusi.com ...
And the evil pukes in DC plan to pour $3.5 trillion of ‘gas’ onto the inflation fire.
Its transitory....many ‘experts’ have said so.
Because of inflation, we’ll all soon be making $400k a year.
I’m retired so am on a fixed income. Inflation is a real killer for me. It is the way the government uses future inflated dollars to retire debt so essentially is a tax, without being a tax. I want to see deflation or better yet a depression.
People actually vote for this.
Um . . .
Wages can never keep up with rapid inflation
If people would just get vaccinated. /s
I read an article a few days ago that stated Social Security recipients may see one of the largest annual CODAs — around 5.9%.
Of course, the Medicare part B premium will likely increase to eat us a good sized chunk of the SS increase.
It is curious that inflation is running rampant but interest rates remain at near zero levels.
There’s talk of the SS COLA being around 6.0% for 2022.
It’s been 0.00% to 2.00% for the last six years or so,
mostly hovering around 1.00%.
Hey, Biden hasn’t even been in office for 8 full months yet.
Give him time.
SS 2023 COLA, 12.75%?
Good article.
The spot price of silver is at an almost 1 year low. Just purchased some Silver Eagles at the lowest price in about... a year.
An old joke:
During a period of high inflation, a man bumps his head and slips into a coma. After 20 years he wakes up, and calls his stock broker.
Man: “How are my investments doing?”
Broker: “Your portfolio is now worth five million dollars.”
Man: “Great! Sell it all, and mail me the check.”
Broker: “Where have you been? That wouldn’t even cover the six million dollar postage stamp.”
> It is curious that inflation is running rampant but interest rates remain at near zero levels. <
Any rise in interest rates will make it more expensive for the government to borrow money. And as we all know, the government is deep in debt as it is.
So I’m guessing the Fed will continue to pretend, pretend, and then pretend some more. After that, look out below!
When do we get to start using nostalgic old terms like “stagflation” again?
That 4% increase still equates to inflation being less than 5% annually. Just how freaked out are we supposed to get?
>>>Broker: “Your portfolio is now worth five million dollars.”<<<
But it can still only buy about $50.00 worth of groceries.
And if you listened to Biden’s speech, nothing is going to improve. This is going to get much much worse.
Biden and his clown show are clinging to their standard 1970s Democrat’s class war rhetoric. Nothing is their fault everything is the fault of “bad actors”, the “super rich” and “Republican Governors”.
why stop there, everyone makes $1 million a year! $15/hr isn’t fair!
That is 4% in just August. Inflation is considerably higher then “5% annually”.
There are still Sept-Oct-Nov-Dec to go. Grocery prices are up between 35 and 50% depending on the category.
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