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Price Shock: Inflation Soars to 29-Year High
Breitbart ^ | 28 May 2021 | JOHN CARNEY

Posted on 05/28/2021 10:15:13 AM PDT by E. Pluribus Unum

A key measure of inflation accelerated to a faster-than-expected 3.1 percent annual gain in April, the Commerce Department reported Friday.

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.

Federal Reserve officials consider core PCE inflation, which excludes food and energy, to be their primary gauge of price stability, one-half of the central’s bank’s core aims in formulating monetary policy. The other half is maximizing employment.

Prices of many items fell last year as the pandemic struck and lockdowns were implemented in an effort to contain the spread of the virus. As a result, year-over-year measures of inflation are expected to be very high over the next few months, reflecting what economists call a “base effect.”

(Excerpt) Read more at breitbart.com ...


TOPICS: News/Current Events
KEYWORDS: inflation; inflationprediction
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To: Tell It Right

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


41 posted on 05/28/2021 11:29:39 AM PDT by Beagle8U ("Jim Acosta pissed in the shallow end of the press pool.")
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To: Dilbert San Diego

Scott, is that you?

42 posted on 05/28/2021 11:31:32 AM PDT by Uncle Miltie (GMO opponents who took the covid jab are now GMOs themselves.)
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To: E. Pluribus Unum
do I really have to say it???

43 posted on 05/28/2021 11:35:14 AM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. P144:1)
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To: E. Pluribus Unum

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

Because no one needs any of that.


44 posted on 05/28/2021 11:48:24 AM PDT by Revel
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To: Texas Fossil

“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.


45 posted on 05/28/2021 11:49:00 AM PDT by Beagle8U ("Jim Acosta pissed in the shallow end of the press pool.")
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To: E. Pluribus Unum
" 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 !

46 posted on 05/28/2021 11:52:35 AM PDT by Tilted Irish Kilt
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To: Texas Fossil

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


47 posted on 05/28/2021 11:57:44 AM PDT by crusty old prospector
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To: Obadiah

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


48 posted on 05/28/2021 12:02:02 PM PDT by Bayan
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To: Tell It Right; SaxxonWoods

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.


49 posted on 05/28/2021 12:03:17 PM PDT by JCL3 (As Richard Feynman might have said, this is reality taking precedence over public relations.)
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To: E. Pluribus Unum

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.


50 posted on 05/28/2021 12:18:10 PM PDT by Vermont Lt
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To: E. Pluribus Unum; All

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.


51 posted on 05/28/2021 12:20:56 PM PDT by Norseman (Defund the Left....completely!)
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To: crusty old prospector

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.


52 posted on 05/28/2021 12:27:00 PM PDT by LouAvul (Lying headlines from fake news articles written by pimps masquerading as journalists.)
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To: DarrellZero

Transitory


53 posted on 05/28/2021 12:47:12 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes.)
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To: ProtectOurFreedom

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.


54 posted on 05/28/2021 12:59:50 PM PDT by Bookshelf
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To: SaxxonWoods

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


55 posted on 05/28/2021 1:15:42 PM PDT by Jonny7797
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To: Dilbert San Diego
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.

56 posted on 05/28/2021 1:33:35 PM PDT by colorado tanker
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To: Norseman
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:


57 posted on 05/28/2021 2:34:49 PM PDT by ProtectOurFreedom (“No man’s life, liberty or property are safe while the Legislature is in session" - Gideon J. Tucker)
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To: Governor Dinwiddie
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.”

58 posted on 05/28/2021 2:41:40 PM PDT by ProtectOurFreedom (“No man’s life, liberty or property are safe while the Legislature is in session" - Gideon J. Tucker)
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To: LouAvul

Thanks.


59 posted on 05/28/2021 6:18:45 PM PDT by crusty old prospector
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To: crusty old prospector
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.

60 posted on 05/28/2021 7:10:11 PM PDT by LouAvul (Lying headlines from fake news articles written by pimps masquerading as journalists.)
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