-PJ
Posted on 09/15/2023 3:49:00 PM PDT by CFW
The largest and fastest interest rate increase in Federal Reserve history was supposed to crush inflation. That hasn’t happened. The alarming feature of this week’s Consumer Price Index (CPI) report is that inflation is moving in the wrong direction. It is re-accelerating in surprising ways, with at least one category (transportation services) moving up double digits on an annual basis.
Overall, prices are up 3.7 percent year over year and a compounded annual rate of change at 7.8 percent. The dollar has lost at least 16–20 cents of value since 2020. The downward momentum is now reversed, headed up for the second report in a row. The $6.5 trillion in new money created in the course of two years from 2020 to 2022 is still wreaking havoc through the price system.
[snip]
Let there be no doubt about the relationship between the money stock and inflation. A greater quantity of money created by the banking system, enabled by the Fed, waters down the value of existing purchasing power. No matter how much the Fed denies it, the facts are there for the whole world to see.
[snip]
It goes like this. The first stage is normalcy followed by shock and awe, a phrase bandied about in the early stages of the Iraq War except that this time, we are the enemy. We are bludgeoned, pillaged, disoriented, and in a state of disbelief. As soon as we are about to come to terms with that, things start looking a bit better. This leads us to believe that it was a mistake or maybe even an illusion. We become hopeful that we are going to get through this. So we let down our guard.
(Excerpt) Read more at theepochtimes.com ...
We must need an “Inflation Reduction Act II”?, cause the first bill just wasn’t big enough.
Third Strike!
Throw the bums out!
War On Poverty - FAIL!
War On Drugs - FAIL!
War On Inflation - FAIL!
How could it succeed once it began with massive government spending?
Massive government spending causes inflation.
what war on inflation?
the current Washington regime has been creating inflation as fast as it possibly can
with only minor steps and a lot of propaganda “fighting” it
didn’t print enough money to combat it I guess.
7.74% is the long term mortgage rate average*. Today's realtor.com rate is 7.632%, so we are still short of the long term average.
sources:
* Kiplinger: The Magic Mortgage Rate Number to Tip the Housing Market
well, gee.... add about 4-5 million poor people into the country and wonder why housing costs are sky high...supply=demand.
Goes for everything. This is a clown show and the people in charge are clueless. The funny thing is that if I can see it... others can as well but are holding their tongues out of fear of committing a thought crime or worse.. end up on the business end of a FBI/IRS assault.
so it goes....
Our country is being annhilated by the leftist that don’t even realize that they will be the one of the first against the wall when the “transition” occurs. All the enforcers, bureaucrats and talking heads think they’ll be given special status or favors..... because they want to be in power.
Doesn’t work that way. I just hope I’m around when they are on their knees whining about being cold, hungry, oppressed, bankrupted, re-educated, and disposed of by the “pure” ones that have taken power. hahahahahaha
Just maybe they’ll be smart enough to read what happened to all the beautiful communists that took over countries....lots of missing people....Now we have Ukrainians threatening anyone here that voices opposition to Ukraine or tries to present Russia’s reasoning for invading.
I think what they need to do is find a way to print money more cheaply. Do I have to solve all of their problems for them?!
-PJ
These were numbers i refinanced DOWN toyears ago.
The ‘war on inflation’ was SUPPOSED to fail. From the very start the ‘war’ was designed to make it worse.
It has once you take out food, shelter, gas and car prices - so says Idiocrat Krugman.
Meanwhile record high prices here at the pump in DC.
Close the border and drill, baby, drill.
Bidenomics is contrary to every school of economics. From Marx to Keynes to Friedman to Hazlitt they all say this is crazy. Running a big government deficit should only happen during a recession or depression..never when employment is so high... per Keynes.
As long as Biden and Democrats mistakenly think they need to buy votes to win, we will have inflation. I don’t see the Republicans with the appetite to cut spending, nor to make significant cuts to DOD or Social Security nor Medicare nor Medicaid.
They are not mistaken. "Tax and Spend and Elect and Elect" was the slogan of the Democrats since the 1930's and it works very reliably.
But getting and holding power requires a lot of supporters who demand ever-increasing rewards. Taxation is too visible and generates too much opposition. So, the money to pay off minions comes from debasing the currency (inflation is the favored way to do this when a fiat currency is available). A time-honored method used by rulers for millennia.
It all works great until the economy finally bleeds out from the thefts. And the former rulers tend to bleed out from rebellions and foreign conquests.
I’ll second that. Just a few days ago I’d posted here that while a few groceries had stabilized or come down a bit, others had gone up again. Fast forward to today’s trip and lots of items are up. The cheapest large pack lo-grade hamburger was $3.39/lb. on sale. On sale!! Wally World was$4-something. Milk was up, pasta(s) were up, deli items up. Same store that had the $3.39 27% fat hamburger wants $1.99 for a freaking donut displayed as you walk in. Holy carp. But they do have a good deal on an 8 pc. fried chicken box for $10, and being out of drumsticks they substituted 2 thighs for the 2 drumsticks. The (not dry!) breasts are huge - it ended up with 2 more thighs and 2 more breasts as “meal add ons” as $ 14.39 for (I weighed it at home) 5-1/4 lbs. of yummy fried chicken.
Gasoline up 10 - 20 cents in the last few days. Car and house insurances (just had to pay those) way up. Property taxes up. Egad...
Oh, I forgot health insurance @ my wife’s job, “family plan” - best deal for our family - way up.
You can’t have expensive energy without driving almost everything else up, unless people simply run out of money. People on fixed or gov’t “COL” based pay are screwed.
“You can’t have expensive energy without driving almost everything else up, unless people simply run out of money. People on fixed or gov’t “COL” based pay are screwed.”
Crude oil closed at approximately $91 per barrel yesterday. Gas prices are on the increase again. Despite what Biden and his adoring media tell us, we can expect more inflation in the future.
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