The NY Times reports that inflation warning signs “flash red.”
“The Federal Reserve’s preferred gauge of inflation climbed in August at the quickest pace in 30 years, data released on Friday showed, keeping policymakers on edge as evidence mounts that rapidly rising prices are poised to last longer than practically any of them had expected earlier this year,” reports the newspaper.”
Personal Consumption Expenditures Index, Annual Change
1980 1990 2000 2010 2020
Source: Bureau of Economic Analysis • By The New York Times
“The numbers come at a pivotal moment, as inflationary warning signals abound. Used car prices show signs of picking up again,costs for raw goods like cotton and crude oil are increasing and companies continue to experience pain from persistent supply chain disruptions.
“That is stoking fears in Washington and on Wall Street that although rapid price gains will eventually fade, the adjustment could drag on for months.”
BofA on the “great inflation of 2021”:
– oil up 55%,
– natural gas up 122%,
– food up 33%,
– shipping costs up 225% in ‘21;
– past 6-months US CPI up 7.6% (annualized),
– core CPI up 6.8%,
– wages 4.9%— zerohedge (@zerohedge) October 1, 2021
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Read that the I’d buy that for a dollar store went over the $1 line, it isn’t the Mendoza line but it is relevant to the build it back better horse hockey.
In order to build it back better, you must burn it all down by any means necessary.
Locally gas has shot up to $3.25 for low octane 87 and prices fluctuate wildly at the Sack-N-Save even after a year of record profits due to the COV-LARP.
Got some please make an appointment snail mails courtesy of the USPS (CPUSA/CCP) fishing for mchealthcarez business and I laughed out loud and threw them into the circular file cabinet.
Healthcare comrades participated in the Great Reset Burn It All Down Forward and they can get some money from Uncle Joe and printing press czar Yellen.
Traitor Joe has done everything he could to destroy America. This has been by design. I am totally convince that Traitor Joe is not just impaired, he’s insane as is the whole Democrat Party. How can people still be a Proud Democrat when their freedoms and standard of living are being flushed down the toilet? The 5 Trillion in additional Federal Spending will be the KILL SHOT that will collapse the US economy. There is nothing in the so called infrastructure package to bring manufacturing back to America and manufacturing / agriculture is the core under pinning of every economy.