Price Shock: Inflation Soars to 29-Year High

Breitbart ^ | 28 May 2021 | JOHN CARNEY

[Beagle8U]

CPI only covers important stuff like luxury cars, timeshares, and theater tickets.

[Uncle Miltie]

Scott, is that you?

[Chode]

do I really have to say it???

[Revel]

“Federal Reserve officials consider core PCE inflation, which excludes food and energy,”

Because no one needs any of that.

[Beagle8U]

“Primers are totally unavailable. What you have is what you are going to get.”

They are available again but the prices are a freakin joke.

$50 - $150 a thousand.

[Tilted Irish Kilt]

" The last time the core personal consumption expenditures index hit 3.1 percent was in May of 1992, when George H. W. Bush was president
and inflation was still recovering from the stagflationary 1970s era."

Now imagine how your are going to explain to your kids the fact that you sold out their heritage and their future,
so that some bumbling public official would sack the treasury and drive the country into bankruptcy to feed his ego.

3.1 may be the official rate from the government
but what is it, in reality, when it comes from your wallet ?
Dam ! Socialism is freaking expensive !

[crusty old prospector]

What about black powder stuff? I got drawn for an muzzleloader elk hunt in Colorado and I need to buy a rifle.

[Bayan]

If the Xiden Junta gets their way a dozen eggs will cost you a thousand dollars. Just ask the Venezuelans.

[JCL3]

It’d be a lot higher of CPI included groceries, gas, and housing price increases.
____________________________________________________________

Hence the term CP-LIE

@SaxxonWoods:
Somebody is wrong, I wonder who.
“Price Shock: Inflation Soars to 29-Year High”
Marketwatch headline right now:
“U.S. stocks climb as inflation reading hits 13-year high”
____________________________________________________________

Michael Burry, please pick up the red phone. Mr. FedGo Bur wishes to discuss you bets on TTT, TMV, TBT as they are having difficulty containing the volcanic pressure of rising prices and restraining the 10 Yr Treasury rate.

Side note:
My favorite Dollar General food storage item increased 13.5% yesterday compared to last Saturday.

[Vermont Lt]

I agree inflation is here.

But….

All reporting coming out for the next year will be “dramatic” because the world was closed for the past year.

Read all of the “YoY” reports with a bug grain of salt.

[Norseman]

You get a hyperinflation in a country like Venezuela when it spends way more than it raises in taxes. For a time, it can borrow, but as the spending to tax ratio expands, interest rates escalate to the point where borrowing is too expensive. That’s when the government starts printing actual paper money to pay its bills. And that’s when a hyperinflation takes hold.

Today, in the U.S., we’re obviously spending way more than we raise in taxes but interest rates are abnormally low because the Federal Reserve has been buying up most of the new debt the government has been issuing to fund its spending. In the process of buying the new debt the Fed is effectively adding to the money supply.

The net effect is that the government is printing new money to fund its spending, just as Venezuela did, but with the Fed not allowing the bond market to signal the danger of the high spending by raising interest rates gradually.

The end result could very well be a dramatic rise in long-term interest rates as the markets suddenly come to grips with the realization that inflation is rising due to the deterioration in the fiscal situation.

By the way, President Trump was not exactly on the side of the angels in this matter. He put plenty of pressure on the Fed to keep interest rates low during his term. But Biden’s spending, if approved, is going to blow the lid off interest rates eventually.

[LouAvul]

Muzzleloading bullets and powder are readily available, as are some BP rifles. But percussion caps and primers are in short supply. I just checked gunbroker and the prices for the latter are $40 to $60 per hundred.

[Organic Panic]

Transitory

[Bookshelf]

I just returned from the store. Jug wine up 10%, hamburger up 10%, frozen fruit up 8%, pasta sauce up 12%, and the kicker, whereas false suger could be bought at 100 packets for a dollar, now they are 50 packets the buck.

[Jonny7797]

That is pretty much false. Some of the biggest drops in the history of the markets were inflation driven.

[colorado tanker]

MSNBC, who said inflation was not a problem, and was not going to be a problem

They got away with nonstop lying about Trump for five years because they stayed in lockstep and most people were too lazy to do any research.

But they can't get away with lying about inflation. People notice when they pay more for food, gas and other necessities.

And our Damnfool in Chief wants to drop another $6 trillion of federal money into the economy. This is so far beyond what Lyndon Johnson did to trigger the inflation of the 70's.

[ProtectOurFreedom]

And it won’t take much of an uptick in interest rates to reach the point where 100% of tax receipts are only paying the interest on the debt. We are in death spiral territory.

The rapidity at which it can happen is breathtaking. Look at Weimar Republic, Germany:

[ProtectOurFreedom]

Then you get paid daily and RUN with your wheelbarrow full of bills to buy a loaf of bread before the shopkeeper raises the price 10x.

Of course, these days it will be a lot easier because you can log on and watch it happen in real time. You will be able to watch the purchasing power of your life savings quickly go to zero.

Yeah, I’m just “spreading fear” and “it can’t happen here.”

[crusty old prospector]

Thanks.

[LouAvul]

You can go to MidwayUSA and under "shop category" click on "blackpowder supplies" and find everything but the primers. That's where Gunbroker would come in unless you have another source.

But if you use a flintlock, Midway has that covered. Good luck on your hunt.