Posted on 08/10/2022 7:10:58 PM PDT by Schatze
“Our economy had zero percent inflation in the month of July. Zero percent," President Joe Biden boasted Wednesday, citing a lesser-used Bureau of Labor Statistics (BLS) measure, rather than the more commonly used statistic, which shows inflation actually jumped 8.5%.
Pres. Biden led off a press event with the claim: "Before I begin today, I want to say a word about the news that came out relative to the economy. Actually, I just want to say a number: zero. Today, we received news our economy had zero percent inflation in the month of July. Zero percent.
“Here’s what that means: while the price of some things went up last month, the price of other things went down by the same amount. The result: zero inflation last month. But, people are still hurting. But, zero inflation last month.”
And, yes, if you’re comparing the seasonally-adjusted change from June 2022 to July 2022 for “urban consumers,” that’s true, as the BLS report released Wednesday notes
(Excerpt) Read more at cnsnews.com ...
Hey, Rocky! Watch me pull a rabbit out of my hat!
If inflation is zero Powell should be lowering rates to zero tomorrow. He’s two percent below his target rate of inflation!
The “NEW MATH” certainly is interesting.
What an fuseekaying joke!
POS!!!!!!!
Good point. Get Manchin and Sistema on the phone. Unless they’re on a luxury tropical island vacation and the cell coverage is shoddy there.
https://www.bls.gov/news.release/cpi.t02.htm
What stood out for me on this chart is the Flour and prepared flour mixes at 22.7. It’s going to explode in about 60 days.
A temporary cure for inflation is often higher prices. That is what we have been experiencing with gas prices moving lower over the last fifty days. Biden attributes it to his attacking the supply problem by releasing oil from the strategic reserve. The reality is that it is the demand side that caused the reduction. Because of the higher prices, consumers restricted their driving. Demand for gas has declined each month over the last 4 or 5 months. Think cancer. Biden gave them cancer. They are in temporary remission now until it spikes again. Biden takes credit for the remission without mentioning he was the origin of the cancer by restricting fossil fuel supply.
A temporary cure for inflation is often higher prices. That is what we have been experiencing with gas prices moving lower over the last fifty days. Biden attributes it to his attacking the supply problem by releasing oil from the strategic reserve. The reality is that it is the demand side that caused the reduction. Because of the higher prices, consumers restricted their driving. Demand for gas has declined each month over the last 4 or 5 months. Think cancer. Biden gave them cancer. They are in temporary remission now until it spikes again. Biden takes credit for the remission without mentioning he was the origin of the cancer by restricting fossil fuel supply.
Biden isn’t cherry-picking anything. Maybe Obama is, but Biden is too addle brained
Totally agree. Gas prices go down some and people are bragging about how cheap they filled their car up. Idiots.
I'm sure the social media are already chock full of this lie, and the sheeple will swallow it whole.
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