Inflation moderated more than expected in November, but consumer prices remained near a multi-decade high, continuing to squeeze millions of U.S. households and small businesses.
That is supposed to be good news.
This is due to interest rate increases deflating the economy.
Inflation is still about three times higher than the pre-pandemic average. It’s touted as it rising less than expected as a good thing. It’s moderated!
And Americans are losing their purchasing power. Average income is down $4,200 thanks to inflation and rising interest rates. People are picking up second or third jobs to be able to cover their basic needs or to buy Christmas gifts for their children.
Inflation almost never ‘goes down’
You don’t get the old prices back. It’s extremely tone deaf for this administration to act like a decrease in the rate of change is a win.
But that’s how joe works. pic.twitter.com/yHNCWkWr98— Frog Capital (@FrogNews) December 13, 2022
The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries, and rents, rose 0.1% in November from the previous month. Prices climbed 7.1% on an annual basis.
Those figures were lower than the 7.3% headline and 0.3% monthly increase forecast by Refinitiv economists. Yippee!
The administration doesn’t count stealth inflation.
Inflation? What inflation?#Shrinkflation = stealth inflation pic.twitter.com/6WfMatQLeI
— Wall Street Silver (@WallStreetSilv) December 13, 2022
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The real estate market, which is one of the critical, far reaching drivers of our economy, is headed in the wrong direction. Increasing interest rates are pricing people out of homes, and new construction has ground to a virtual halt. The latter fuels good paying jobs in many different economic sectors. The negative effects of all this hasn’t come close to being felt yet.
Inflation is irreverent. What we should track is Buying Power which has been in decline for over 100 years. What’s interesting is buying power went into a steady declining spiral about the time the US Government instituted an Income tax and created the FED. Buying power was stable during the Roaring Twenties. The only time buying power increased was during the Great Depression. If you had money back then, things were cheap. Since 1935 and steadily increasing Big Government Taxation, buying power has been in decline and it’s all the fault of Big Government and and Government Spending!
Since Traitor Joe took Office, buying power has declined 25%. We are in a Depression, but it’s worse than the Great Depression since it’s actually Stagflation. We should be seeing prices going down, put with Government flooding the Markets with Free Money backed by debt we have rising prices along with lowering buying power. Historically this signals a potential for a Currency’s Collapse!
The day of reckoning is coming. Since the US Dollar is backed by Oil, I expect the Collapse shortly after the emptying of the Strategic Petroleum Reserve, unless we go all in on Energy Production NOW!