Posted on 09/13/2022 11:38:14 AM PDT by ChicagoConservative27
An unexpected inflation jump in August set stocks plunging Tuesday as Wall Street braced for steeper Federal Reserve rate hikes and a potential economic slowdown.
The Dow Jones Industrial Average was down 2.8 percent shortly after 2 p.m. Tuesday, a decline of more than 900 points, after the Labor Department released a surprisingly hot consumer price index (CPI) report earlier in the day.
The S&P 500 was down 3.1 percent and the Nasdaq composite was down 3.9 percent on the day.
Markets began selling off after the Labor Department reported a 0.1 percent increase in the consumer price index (CPI), a closely watched gauge of inflation, in August.
(Excerpt) Read more at thehill.com ...
Those of us still buying groceries aren’t “surprised”!
The AP drinks the Biden Kool-Aide.
Surprise bump?
By the same people who don’t know the textbook definition of inflation....all they are is biased political hacks...That’s what we have here....oh, and trans or pedos (or both) running agencies....
Why? Because they are easy to control.
The idea that printing trillions of dollars and raising interest rates would solve what is essentially a supply problem (not a demand problem) is sheer folly. We are led by buffoons.
The supply problem was caused by worldwide government shutdown.
Unexpectedly
There are two supply problems presently:
- too low a supply of goods generally, but especially energy, reaching the market, and
- yes, too much money printed (an inflated money supply) as a form of creating public debt.
Government maffs. It was suppose to be 15% inflation but was only 10%. Therefore, a drop in inflation of 5%.
Funny, it’s almost like this was planned from the beginning. Huh.
The Hill, Biden and his diaper girl are the only ones surprised.
The federal government has printed trillions of dollars and we still have inflation.
The AP lives in a state of constant surprise. The staff are all on some kind of drugs just to maintain.
Every economic report during the reign of Caliph Baraq seemed to contain the phrase “unexpected”.
To economic illiterates who suffered a brain injury. Sure.
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