[ April 23, 2024 ]
Here’s here’s my prediction: the Democrats have planned, for sometime, for the Republicans to take the house. They think they will keep the Senate. They actually need the Republicans to take the house so that they can distract, deflect and spend the next two years blaming the catastrophic problems they caused on the Republicans. Can’t you see it? Two years of Democrats and their running dogs in the enemedia endlessly pounding the GOP house for inflation, crime, war, impending nuclear holocaust, migrant surges, etc. etc. Paving the way for an easy win in 2024……
Today’s Inflation CPI report is dreadful — a new 40 year high — as even this Washington Post writer concedes.
Rents, Services, Energy, Food.
Every category surges under Biden. pic.twitter.com/Kd40dbhN7E
— Steve Cortes (@CortesSteve) April 12, 2022
Inflation surged more than expected in September as prices remain stubbornly high
Consumer price index continues to hover near a record-high, keeping pressure on the Fed
Story continues below advertisementBy Fox Business, October 13, 2022:
Inflation, rising gas prices could play major role in 2022 midterms
Inflation ran hotter than expected in September as persistent prices continued to squeeze U.S. households and worsen a political headache for President Biden with just one month until midterm elections.
The Labor Department said Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in September from the previous month. Prices climbed 8.2% on an annual basis.
Those figures were both higher than the 8.1% headline figure and 0.2% monthly increase forecast by Refinitiv economists, a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand with an aggressive interest rate hike campaign.
In an even more concerning development that suggests underlying inflationary pressures in the economy remain strong, core prices – which strip out the more volatile measurements of food and energy – climbed 0.6% in September from the previous month. From the same time last year, core prices jumped 6.6%, the fastest since 1982.
SOCIAL SECURITY RECIPIENTS TO SEE BIGGEST COLA INCREASE SINCE 1981
Economists anticipated that core prices would climb 0.5% on a monthly basis and 6.5% from the previous year.
Stocks tanked on the surprisingly hot report, with the Dow Jones Industrial Average down more than 500 points. The S&P 500 tumbled 2.10% and the Nasdaq Composite slipped 2.80%.
Scorching-hot inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily impacted by price fluctuations.
Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 28704.74 -506.11 -1.73%
I:COMP NASDAQ COMPOSITE INDEX 10101.046602 -316.05 -3.03%
SP500 S&P 500 3497.76 -79.27 -2.22%
Powered ByAlthough households continued to see some reprieve last month in the form of lower gas prices, which fell 4.9% in September from the previous month, other price gains proved persistent and stubbornly high.
THE FED’S WAR ON INFLATION COULD COST 1M JOBS
The cost of groceries climbed 0.7%, putting the 12-month increase at 13.0%. Consumers paid more for items like cereal, chicken, milk and fresh vegetables.
US inflation grocery storeThomas Calomiris, a third generation produce vendor, weighs an onion at Eastern Market as the US struggles with rising inflation May 20, 2022, in Washington, DC. ((Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) / Getty Images)
Shelter costs, which account for about 40% of the core inflation increase, have climbed %, the fastest since February 1991.
Rent costs jumped 0.8% over the month and 6.7% on an annual basis. Rising rents are a concerning development because higher housing costs most directly and acutely affect household budgets. Another data point that measures how much homeowners would pay in equivalent rent if they had not bought their home, climbed 0.8% in September from the previous month.
“The composition of the inflation reading is perhaps even more worrisome than the overall number,” said Seema Shah, the chief global strategist at Principal Asset Management. “Increases in shelter and medical care indices, the stickiest segments of the CPI basket, confirm that price pressures are extremely stubborn and will not go down without a Fed fight.”
With food and shelters costs continuing to march higher, U.S. households are facing increased financial pressure. Average hourly earnings actually declined 0.1% in September on an inflation-adjusted basis. Compared to the previous year, earnings are down 3%, according to a separate BLS report.
Rampant inflation and the rapid dissolution of Americans’ buying power have become major political liabilities for Biden ahead of the November midterm elections, in which Democrats are expected to lose their already razor-thin majorities. Surveys show that Americans see inflation as the biggest problem facing the country – and that many households blame Biden for the price spike.
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14 Comments
1 year ago
Inflation must be Joe Biden’s middle name. Biden which his continued interfering and meddling in the American free enterprise system and his always pushing his socialist policies and politics in private businesses is an economic disaster for the United States and causing terribly high prices for the American for goods and services therefore inflecting on them further hardships.
1 year ago
$ 10 gas by Xmas, $ 20 gas by Easter
1 year ago
…..and War by after the Election Winner is announced if it ain’t TRUMP! and unfortunately Bidden and Puppets might also copy us and go to WAR if he wins, either way Evil corruption will come to a DEAD STOP when WAR is done and if by some chance we lose the WAR by death to the Evil, corrupted other side……………than Heaven awaits me….while HELL will soon await them…good luck with that!
1 year ago
I apologize for being selfish, but I meant HEAVEN awaits for US not me.
D
1 year ago
A NEW record…..congratulations, Joetato….
D
1 year ago
Final reports before Nov 8. This is what the election goes to print with.
D
1 year ago
The Inflation Reduction Act working exactly as expected. The only way Dems take the house back in ’24 is to actually reduce inflation and gas prices which of course they won’t
Last edited 1 year ago by Intrepid
1 year ago
Joe Biden with his constant socialist meddling and interfering in the American free enterprise system.is wrecking the economy of this nation.
Biden even destroyed the business of that northern oil pipeline causing many American workers to lose their much-needed jobs. Likewise making the United States once again dependent on foreign oil.
That was one of many factors that contributed high price of gas and groceries.
It was reported on the news the this very high price of fuel. cost men driving trucks for a living so spending as much a one thousand dollars to fill up the gas tanks of their truck, causing many of them to go out of business thus losing their jobs. This is one reason foe high food prices and barren shelves at the grocery market.
Related to this is that by Biden pushing and even attempting to force socialism of the United States economic system also inflection at the grocery store and because many empty shelves, People never saw empty shelves during the Trump administration.
This Bogus US “President” must be deliberately attempting to harm this nation. What a treasonous villain he is.
Other villains who,” behind the curtains,” are other treacherous dangerous villains who use this puppet “president” as their useful idiot and tool as one of their weapons against America.
1 year ago
Joe Biden as a politician of fifty years in government had done nothing for the betterment of the United States. Now starting from January 20, 2021, pseudo “president” Biden has only harmed America.
In addition, Biden even had the gall to say in a speech about his Republican opponents as “being against everything” he should first look into the mirror.
Biden must be against low gas prices.
Biden must be against low food prices
Biden is against American being oil independent.
Biden is against the American free enterprise system.
Biden must be against the American worker because of his socialist economic policies
Biden is definitely against a strong firm secure US/Mexican border.
Biden is against funding and supporting the police force
Biden is against supporting our only one good friend in the Middle East the State of Israel.
Biden is against putting the hostile vicious anti. America “mullah regime” of Iran in its place by giving those in power in that Islamic tyranny everything they demand.
Biden is the negative one.
1 year ago
Joe Biden with his constant socialist meddling and interfering in the American free enterprise system.is wrecking the economy of this nation.
Biden even destroyed the business of that northern oil pipeline causing many American workers to lose their much-needed jobs. Likewise making the United States once again dependent on foreign oil.
That was one of many factors that contributed high price of gas and groceries.
It was reported on the news the this very high price of fuel .cost men driving trucks for a living so spending as much a one thousand dollars to fill up the gas tanks of their truck, causing many of them to go out of business thus losing their jobs . This is one reason foe high food prices and barren shelves at the grocery market.
Related to this is that by Biden pushing and even attempting to force socialism of the United States economic system also inflection at the grocery store and because many empty shelves, People never saw empty shelves during the Trump administration.
This Bogus US “President” must be deliberately attempting to harm this nation. What a treasonous villain he is.
Other villains who,” behind the curtains,” are other treacherous dangerous villains who use this puppet “president” as their useful idiot and tool as one of their weapons against America.
1 year ago
Joe Biden is responsible for the terribly high cost of gas and groceries with his constant socialist meddling and interfering in the American free enterprise system is only harming America and the American people.
Likewise “President” pretender Biden when he shut down the Northern oil pipeline industry causing many American workers to lose their much need jobs is a disaster but to make this terrible situation even worse this results to two awful related things.
It made the United States once against dependent on foreign oil and likewise this added to the already rising prices fuel at the gas station.
That subversive horrible Biden and those “behind the curtains.” Who uphold their stooge in the Office of the US Presidency must have insidious sinister subversive intentions.
They have Biden as their tool for the degradation and debasement of the United States in the Red/Green agenda.
They are a dangerous as they are also despicable.
1 year ago
The words “Stop the inflation” really mean “Stop Joe Biden and those hiding “behind the curtains “ who uphold and manipulate their puppet “President” Biden to achieve all their sinister goals
The bad economy is because of Joe Biden with is socialist economics meddling and interfering in and destroying the American free enterprise system
For Biden is the epitome and personification of America’s economic disaster in the United States.
High prices for fuel and the gas station and at the grocery store are terrible, and, still prices are growing higher. Things will get worse – “thanks” to Biden.
All because of that awful Biden with his socialist economics, he is a disaster for both America and the American people.
That fiend Biden worked against the American oil industry and likewise shut down the American oil pipeline therefore costing US citizens to lose their much need jobs. All of this has to be part of Biden sinister scheme to make the United State dependent on foreign oil.
Biden is, truly, a traitorous treasonous villain.
1 year ago
Joe Biden is so very feeble in body that he can’t even walk up a flight of stairs or handle riding a bicycle.
It must be that eating ice cream is the only thing that Biden does really know how to do well.
So how less is he able to handle the economy of the United States in any competent way. With his wrecking the economy of the US with is socialist economics he keeps attempting to push on the United States against American free enterprise system resulting a drastic rise in the price of groceries and gas.
This is a reflection of the wisdom of the ancient Greek Philosopher, Plato, who wrote “The penalty for refusing to take part in politics is to be ruled men inferior to yourself.”
Joe Biden with America regarding the economy as well as on many other important subjects is nothing less than a horrendous economic catastrophe.
1 year ago
Biden is an horrendous catastrophe for America’s economy.
This economic calamity is a reflection of the wisdom written down by the ancient Greek philosopher, Plato wrote, “The penalty for refusing to take part in politics is to be ruled men inferior to yourself.”
