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Very bad news for retirees, especially. Unless you’re a public employee on an inflation-adjusted pension, a 5% inflation rate will cut your purchasing power in half in 10 years.
And Biden shows no evidence that he cares about the trillions in stimulus spending. He will gladly jack up inflation to 25% and still make the same speeches about the benefits of signing bills to fund trillions more in green energy investments.
A fresh new record-high close for the S&P 500 today
The great Biden economic BOOM in progress!
Thank you, President Biden
The rich get richer. Such a total sell out to banksters and corporations by the left.
Does it matter to you Biden sycophants that inflation is making the average American citizens lives worse off, when their wallets are empty because gasoline, food, clothing, the very necessities, are going up in price so quickly? Nope, just be a cheerleader for Biden, and to hell with the plight of the people.
Inflation for May was 5%. It's the regressive tax there is. Biden hurting the poor.
The US Federal Reserve has basically become a criminal organization, perpetrating the biggest theft in history by a government and its corrupt economic elites against the nation's people. The ridiculous low interest rates (still zero percent for a decade) and outrageous quantitative easing are even more reckless and stupid than the Weimar Republic's blundering that led to hyperinflation in the 1920's and eventually contributed to the Great Depression. Jerome Powell is a thief leading a Ponzi scheme, slamming actual productive Americans, workers, professionals, savers and retirees. I know most of us here on c-d are retirees and people on fixed income so anyone supporting this is purely insane. I'm not saying Biden only is to blame, after all Powell was a Trump appointee but both political parties are thoroughly corrupt and working against the common good. A century ago people would target these corrupt officials with tarring and feathering, nooses and lampposts are guillotines. They seem to think that Americans are more docile.
But somehow, I doubt that docility is going to last when prices at the supermarket and gas station are sky-rocketing while wages are stagnant, a single family home even for high earning young professionals has exploded in cost even out in the boonies (this is why Americans aren't having kids and the birth rate in the USA is now below most of Europe), college tuition keeps going up, insurance, healthcare-- everything in the United States is in an outrageous asset bubble. If Powell doesn't move soon and learn something from Paul Volcker in the 1970's, then the bubble will keep getting worse, the value of the dollar will keep plunging and purchase power for Americans will keep falling (the dollar is already basically toilet paper for many items) and there'll be blood on the streets. These stupid, corrupt "leaders" in the USA have no idea of the danger they're courting with all this.
Yup -- as they were predicting last December --- they knew it was coming and it would be inevitable as we returned to normal and supply chains were still working to get back online.
The question is will it continue to be as high as we move forward.
There have been predictions of inflation and stagflation long before the pandemic. It is inevitable it seems.
I am sure with all the money they are pumping into the system, it will be fine.
No, it wasn't inevitable. It's because of the spending frenzy. $400 BILLION in unemployment fraud that we get to pick up the tab for.
The US Federal Reserve has basically become a criminal organization, perpetrating the biggest theft in history by a government and its corrupt economic elites against the nation's people. The ridiculous low interest rates (still zero percent for a decade) and outrageous quantitative easing are even more reckless and stupid than the Weimar Republic's blundering that led to hyperinflation in the 1920's and eventually contributed to the Great Depression. Jerome Powell is a thief leading a Ponzi scheme, slamming actual productive Americans, workers, professionals, savers and retirees. I know most of us here on c-d are retirees and people on fixed income so anyone supporting this is purely insane. I'm not saying Biden only is to blame, after all Powell was a Trump appointee but both political parties are thoroughly corrupt and working against the common good. A century ago people would target these corrupt officials with tarring and feathering, nooses and lampposts are guillotines. They seem to think that Americans are more docile.
But somehow, I doubt that docility is going to last when prices at the supermarket and gas station are sky-rocketing while wages are stagnant, a single family home even for high earning young professionals has exploded in cost even out in the boonies (this is why Americans aren't having kids and the birth rate in the USA is now below most of Europe), college tuition keeps going up, insurance, healthcare-- everything in the United States is in an outrageous asset bubble. If Powell doesn't move soon and learn something from Paul Volcker in the 1970's, then the bubble will keep getting worse, the value of the dollar will keep plunging and purchase power for Americans will keep falling (the dollar is already basically toilet paper for many items) and there'll be blood on the streets. These stupid, corrupt "leaders" in the USA have no idea of the danger they're courting with all this.
What an excellent and incisive post. Hubris is it's own demon and when the house of cards collapses jumping from buildings will only be the beginning of what will most likely be revolution.
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Nope, just be a cheerleader for Biden, and to hell with the plight of the people.
