"Let me explain why this is good news ..."
Unexpected!
*Drink*
Wait until the SPR outflow stops.
Gas will be back around $5 at Christmas. If you are flying for the holidays—buy your tickets now.
CEO of Bank of America told Bret last night that the GDP this quarter will be flat followed by at least 2 quarters of decline. That would make about (at least) 5 quarters of negative gdp growth, that my friends is a bad recession.
"Let me explain why this is good news ..."
This makes me happy. Is that weird?
The only way this will get better is when these commies are gone like a freight train.
Inflation? There is no inflation.
Come on,man!
August Producer Price Index issues tomorrow morning at 8:30
July PPI had prices up 9.8 percent from July 2021 to July 2022.
https://www.bls.gov/opub/ted/2022/producer-prices-up-9-8-percent-from-july-2021-to-july-2022.htm
DOW futures -530 @ 9:07AM
I hope people are hoarding gas.
Please show me one instance when this "soft landing" ever occurred in history. This was impossible nonsense BS talk.
The gas prices are only dropping because Biden is draining our strategic oil reserves to exhaustion to personally save the DNC.
US inflation falls for 2nd straight month on lower gas costs
Meanwhile, President Biden, Treasury Secretary Janet Yellen and others are adamant that the US economy is not in a recession, despite GDP reports that have shown declines in two straight quarters.
I have written the following several times before. Congress and the Biden Administration have ignored, dismissed and miscalculated the economic problems everyday Americans. They use words like ‘transient’ to assuage the public. It does not work.
Biden has specifically placed his trust in the Federal Reserve to fix the economy. Meanwhile, Congress and Biden spend us deeper into inflation. That directly works against the interest rate hikes from the Fed. The Fed has few tools to adjust monetary policy.
In addition to changes in monetary policy, the cure to inflation requires changes to fiscal policy, regulatory policy, energy policy, immigration policy, and foreign policy. Jeez, just looking back on the prior sentence it becomes clear that EVERYTHING Congress and the Biden Administration is doing is wrong. Everything they touch turns into steaming piles of excrement.
If you feel powerless, there is one thing you can personally do if you still work. Inflation is ultimately cured by increased productivity. That leads to increasing the supply of goods and services while reducing per unit cost. In other words, work your ass off and produce more without getting paid more. Really, you have no choice. If you are one of the fortunate that remain employed over the next six months or so, you’ll be forced to be more productive. Look to the guy to your left and then at yourself. One of you will be unemployed. The sucker that keeps his job will have to do the work of two or more people.
And if we use the calculations we used in 1980, inflation is running over 17%
The real budget buster is food prices.
A probable problem is that, shortly after the mid-terms, gas prices will shoot up again and inflation will roar.
But, it is still the best economy in history — just ask any Biden advisor and ole Joe.
[No wonder Ole Joe is weaponizing political opposition — he doesn’t have much success in anything so far. Jimmy Carter and Barak Obama are both smiling.]
Gas prices are only dropping due to direct interaction by the admin to keep the numbers low going into the midterms.
Once the midterms are over, prices will jump to their ‘unmanaged’ levels
Here comes another 3/4 of a point interest rate hike at the next Fed meeting. This inflation report pretty well seals that.