Posted on 03/31/2022 8:53:12 AM PDT by Artemis Webb
The Federal Reserve's favorite inflation measure showed intensifying price pressures in February, rising to its highest annual level since 1983, the Commerce Department reported Thursday.
Including gas and groceries, the headline PCE measure jumped 6.4%, the fastest pace since January 1982.
(Excerpt) Read more at msn.com ...
But it’s price gouging shout the Pedophile Party!
And if enough sheep buy the “price gouging” excuse, we just might see price controls. And price controls do work ... until current store inventory is exhausted. Then it’s Venezuela here we come.
I’m old enough to remember when Nixon imposed wage and price controls. I was only 10 but even then it was obviously a disaster for everybody.
How does the PCE differ from CPI?
Sir you would have to ask someone more edgamacated than I.
Awhile back I read a true story about this chicken farmer in Venezuela. It went something like this. It costs this guy 30 Bolivars to raise a chicken for market. He sold it there for 40 Bolivars, with the 10 Bolivars profit going to provide for his family.
Well, not every Venezuelan could afford 40 Bolivars for meat every day. So the socialist government decreed that a chicken can be sold for at most 20 Bolivars. That was less than it costs to raise a chicken!
The people were very happy to hear this, at first anyway. But now that farmer just raises chickens for his own use. So now chickens are cheap, but entirely unavailable.
Real Inflation: At least 14 percent.
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