Inflation holds steady at 8.5 in July, Joey claims zero inflation

[Ralph Wiggum]

Joe Biden Boasts ‘Zero Inflation’ in July but Cost of Food and Rent Still Rising

President Joe Biden boasted Wednesday that the United States economy experienced zero inflation in the month of July, even though costs of goods and services are still up 8.5 percent from the previous year.

“I just want to say a number. Zero. Today we received news that our economy had zero inflation in the month of July,” Biden boasted during a speech at the White House.

Inflation of all consumer prices in July was flat from the previous month, thanks to a drop in the price of gasoline from June’s record highs and a sharp decrease in the cost of airfare.

“Zero percent,” Biden repeated proudly. “Zero inflation last month.”

But inflation at the grocery store continues to rise. Prices were up 1.3 percent compared with a month earlier and 13.1 percent compared with a year ago.

Breitbart Linky

These bozos continue to re-define words...

[Ptarmigan]

Inflation: A Play In Three Acts
https://www.zerohedge.com/markets/inflation-play-three-acts

Today’s drop in inflation potentially sets the stage for less tightening - or even easing - in the medium term, leading to a resurgence in inflation later in the cycle, eventually requiring a significant re-tightening of monetary conditions. Even if today’s fall in consumer-price inflation means we are over the peak, and it continues to slow, we are still probably only in the first act of a three act play.

The 1970s are an imperfect analogy, but they have one crucial aspect in common with today: the monetization of large fiscal deficits. Runaway inflation is almost always preceded by large government borrowing financed by the central bank.

Both the late 1960s and the last few years saw rising fiscal deficits facilitated by a central bank that thought it had more room to ease than it really did, as was the case in the late 1960s and early 1970s; or one that decided to ignore rising inflation altogether, as the Fed did with its recent maximum-employment/average-inflation-targeting framework.

Once the conditions for high inflation are there, the economy is at the mercy of “events”, whether that be the Arab Oil Embargo in the early 1970s, or the pandemic and the Ukraine war in the current period.

It is more like Act I of III of inflation.

[Dblhaul]

Slo Joe isn't good at math. Hell, he isn't good a being a president either.

[DefiantSix]

Slo Joe isn't good at math. Hell, he isn't good a being a president either.

Judging by how his kid turned out, #JoeThePedophile is a walking fiddy pound sack of dogshit as a parent.

Judging by how he had to cheat/plagiarize his way thru the Bar, he's a steaming pile as a lawyer.

In fact, I can't think of a single, solitary thing he's set his hand to that hasn't gone totally off the rails shortly there after.

Where's Dr.Kervorkian when a dementia-addled bastard needs him?

[Eupher]

SharterJoe is good at only two things:

• Lining his pockets with taxpayer cash.
• Filling his Depends.

He's a horrible liar, though he's had a lifetime of practice. His schtick of playing the "I'm just a regular guy from Scranton" is on a ship that sailed a long time ago. It's too bad his constituents in Delaware were too stupid to see it.

Even his feeble attempt to grow hair on his head failed, which is where his nickname of "Plugs" comes in.

But he sure is good at feathering his nest and selling out his country to the Chicoms and Russians through his drug-addled spawn.