Posted on 06/10/2022 7:20:04 PM PDT by Mariner
For nearly a year, inflation has been hammering Americans. Every month when the Consumer Price Index report gets released, rates have stayed high or gone higher.
Hopes that elevated prices were beginning to settle were dashed Friday morning when the Bureau of Labor Statistics (BLS) released data showing that the CPI, its broad measure for prices of goods and services, reached 8.6% for the month of May.
The number represents the highest level of inflation in the U.S. since 1981, and it has top economists starting to get worried—like, really worried.
“The overall reality for the Fed is that inflation is not under control,” Charlie Ripley, a senior investment strategist for Allianz Investment Management, told Fortune. He said he sees Friday’s CPI release as proof that the central bank needs to be more aggressive in its approach to inflation and institute greater interest rate hikes throughout this year.
The Fed has already increased its baseline interest rate twice this year in an attempt to rein in inflation. The first hike came in March with a 25 basis point hike—its first in two years. Another 50 bps hike came in May.
(Excerpt) Read more at yahoo.com ...
10% or higher for the Funds Rate is required. That would bankrupt the US Treasury...given the current debt load and the ongoing need for more borrowing.
It would be a major default.
So, inflation will continue to soar until it destroys all demand through making everything unaffordable.
It's going to be disastrous, either way.
The only question is: Do Americans blame Putin, or is even more brainwashing required?
The inflation genie is out of the lamp now.
“So, inflation will continue to soar until it destroys all demand through making everything unaffordable.”
Just a matter of what emerges from the ashes at this point.
81 million votes, huh?
BULLSHIT.
Bull Schiff!
Treasury bonds are sold at auction, as are T-bills.
If you quit spending money you don’t need to borrow.
existing debt is already set.
Democrats and RINOs can bring this all under control this year, just cut the Democrat political vote buying parts of the budget.
We’ll be Jake!
they will never default, they will simply print more money.
I personally am hoping they raise interest rates A LOT!!!
I owe nothing to no one, I own everything outright.
I have tons of money I would love to just collect interest on the rest of my life like my grandmother did after Carter. She got a CD at 20% for 20 years or something. Lived off the interest alone the rest of her life without ever touching the principle.
So, inflation will continue to soar until it destroys all demand through making everything unaffordable.
It's going to be disastrous, either way. <<<
you're right!..How did you get a copy of the Dem/liberal/NWO play book?
How unexpected! Who could have known?(//S)
Go ahead and laugh at Biden but he’s the most powerful President we’ve ever had. He is destroying the nation and we sit quietly hoping some balless Republicans save the day.
“If you quit spending money you don’t need to borrow.
existing debt is already set.”
1. The US government will not quit borrowing until it ceases to exist. There is no will for it. In fact, the American people would not stand for it. And if PEOPLE and governments cut them off, the Fed will print what is needed.
2. Existing debt will NEVER be paid. We can’t afford to pay it. So it keeps getting rolled over/refinanced. We only pay the interest...and when rates go up...disaster.
As you deduced, it’s not hard to figure out.
But NOBODY will choose the pain. Not voters. Not politicians. Nobody.
Whatever. Most people can’t be bothered with this other than to complain about it. No one is showing up at their representative’s offices or taking to the streets to protest. The American people are by and large sheep, ready to be slaughtered without much of a fight.
While the CPI-U mentioned in the article is 8.6% higher than a year ago, the CPI-W (the figure used for determining annual social security cost of living increases) for May is 9.3% higher than a year ago (see the bottom of page 4 of the linked document).
https://www.bls.gov/news.release/pdf/cpi.pdf
“No one is showing up at their representative’s offices or taking to the streets to protest.”
Useless flailing, without impact.
It is common human behavior.
There is order in this chaos. There is purpose in this destruction.
Our betters give not a whit for babies without formula, or people who are crippled by high gas prices and eating less because of expensive groceries.
“In order to create, we must first destroy.” sez every villain from Blofeld to Obama.
Hail Hydra!
Yup.
I’ve been totally debt free for five years. Let the interest rate go to 25%.
At the end of the Carter years my dad invested in tax free municipal bonds and enjoyed an early and prosperous retirement...very similar to you aunt!
All according to the plan.
The people do not have the power. Those with the money have the power and they will keep it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.