The Conservative Cave
Current Events => Economics => Topic started by: Ptarmigan on January 13, 2022, 06:46:27 PM
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Bidenflation: Consumer Prices Surge 7%, Worst Since 1982
https://www.breitbart.com/economy/2022/01/12/consumer-prices-rise/
U.S. inflation rose to the highest level in nearly forty years in December, underscoring the high and rising inflation that has been the hallmark of the first year of Joe Biden’s presidency.
The Labor Department said the Consumer Price Index—which tracks what consumers pay for goods and services—rose by seven percent from a year ago. That was the fastest 12-month pace since 1982 and the seventh straight month of inflation above 5 percent. In November, CPI was up 6.9 percent.
Inflation has not been this high in generations.
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The Labor Department said the Consumer Price Index—which tracks what consumers pay for goods and services—rose by seven percent from a year ago
this is from brandon's labor department so you know it has to be the best case scenario
#Let'sGoBrandon
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To add insult to injury, the Producer Price Index at 9.6% has grown at the fastest rate ever recorded. This is the inflation metric at the wholesale level and it shows that we're a long way from any relief because wholesalers, of course, will pass on their costs/losses to the consumer.
I read yesterday, though I can't find the link, that the only way out of this is to initiate a recession, much like what Reagan did with Paul Volcker -- reduce the money supply, along with eliminating a lot of wage and price controls and reducing spending (good luck with that these days). HuffPo pooh-poos that, of course, as does Krugman (probably -- too lazy to look).
The upshot is, we're going to continue to lose ground with #SharterJoe's policies and Congress' reckless spending habits.
https://alphanews.org/one-key-metric-for-inflation-reaches-highest-rate-ever/
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Using Warren's logic, it's clear we now have to go after Big Pet-Food...
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this is from brandon's labor department so you know it has to be the best case scenario
#Let'sGoBrandon
I am sure it's much higher when you factor in all the things they left out, :thatsright: