Posted on 12/16/2021 10:08:40 AM PST by SeekAndFind
With the price of gas hitting $7 a gallon and a package of Oscar Meyer bacon hitting $9.59 out in California, you can bet inflation is on consumers' minds, and 80% of them know who did it.
Big government spending, the kind that requires the Fed to print more money than the economy can handle, is behind it. The U.S. has passed a helluva lot of gargantuan trillion-plus-dollar spending bills for things such as COVID relief, "infrastructure," bailouts of favored industries, stimulus payouts, and more in the last few years and the economy is still struggling to digest it.
Inflation, according to the Bureau of Labor Statistics, has now soared 6.8% this year, the highest rise in nearly forty years, back when the U.S. was crawling out from the rubble of the Carter years.
And today's inflation is far from done, according to the Fed, which expects to initiate three rate hikes in 2022 to fight it. As the prices soar, it's likely that that 80% might just go higher.
Fed chairman Jerome Powell says consumer spending is strong, as a sort of point of optimism, but that's weird stuff coming from him. If he's read anything about past inflationary surges, or maybe looked at the history of Argentina, he knows that consumer spending gets very strong in response to the value of the dollar falling (an inflation byproduct) as well as in response to anticipated price hikes. Commodities become more valuable than cash, and everyone wants to get his own before the prices go up. Of course people are buying; that's Your Inflation at Work.
But he's hardly the most delusional guy out there, and his hinted-at rate hikes do suggest familiarity with reality.
No, the big delusionals are the Democrats, who are continuing to push
(Excerpt) Read more at americanthinker.com ...
Snakes?
Worms?
Frogs?....................................
Build Back Bolshevik
Is it any wonder consumer spending is “strong”? Give people free money and they spend it. What a dope!
Truth?
That would be weird!......................FOR THEM!...............
Didn’t Jen Psaki, or some other flunkies of Democrats, say that inflation is not a problem because people have more money to spend? Meaning that people have money to pay higher prices, so why is anyone concerned?
From the time of Woodrow Wilson.
it just looks strong.. when inflation is at or near double digits it always looks better than it is.
increased money supply times increased velocity = increased aggregate demand
Build Back to Break it.
Delusional is right - the Dems are driving the car off a cliff screaming, “It’s never been so good! Look, we’re flying!” The landing isn’t going to be fun.
"Built Back Better Bankruptcy"
AntiFA :" Burn it all down "
Same effect; different method ! ,br>
That will bed a best selling Tee shirt after the holidays.
When have the democrats ever given up anything? 6uild 6ack 6etter will pass eventually. Like Christmas Eve. BUT in the meantime they’ll get their voting take over passed to give the vote to every illegal, felon, zombie, family pet, and unleash an army of ballot harvesters to “assist” you voting properly. And Mitch, Mittens, and Graham are happy to help.
You’d wonder what it’d take for Kalifornians to free themselves of their Democrat-administered pain?
I guess it’s not $6+ gasoline, Hell-hole homeless camps, electrical blackouts, forced vaccines and masks, insane crime rates, $10 bacon... not even a ban on leaf blowers, which the illegals in my area would got full-on Jan 6 over. What will it take?
Actually, since Kalifornia has abandoned the middle class, it will never change, not so long as the Silicon Valley and Hollywood Masters reap it in from out-of-state revenue and use it to pay off the underclass with welfare, pot and wokism. Maybe enough middle and professional class people will leave so that it just atrophies. That’s the most likely scenario, but it will be at the cost of a leftist exodus upon the other states. What a bloody mess.
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