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Yet another indicator of the dumpster fire that is the Biden economy. It appears that the lies of the democrats, that inflation is transient, were just another fib.
Biden is rapidly leading the nation down the toilet with no plans to reverse the trend, as he is too demented to understand what is happening, let alone formulate a plan. We have him and Pelosi thinking that INCREASED SPENDING will reduce inflation!
never fear, several of vegetable xoe's cheerleaders are here right now. they'll swoop and and play defense.
Quote:
Producer prices increased a blistering 10% for the year ending in February, according to a report Friday from the Bureau of Labor Statistics, the highest on record.
The inflation rate in Tuesday’s producer price index report was up 0.2 percentage points from the previous month and is the highest in the gauge's 11-year history.
Tuesday's news signals more pain to come for households. The producer price index gauges the wholesale prices of goods, which are eventually passed down to consumers.
The news came just days after a report for the month of February found consumer prices increased by 7.9% — the fastest annual rate in four decades. The high rate of inflation has damaged President Joe Biden politically and undercut support for his spending proposals. https://www.washingtonexaminer.com/p...hest-on-record
There is a vocal crowd who oppose the inflation but just as many support MMT among the right also.
Some are predicting that this year the Fed will have to choose between managing inflation and causing a recession or allowing inflation to sustain growth in the economy...that we have run out of ammunition to have economic growth without inflation.
This could be a damned if we do, damned if we don't sort of situation here....but go ahead and blame it all on Democrats and keep believing the fantasy that the right is going to solve all our problems. This is a long term problem coming to it's head this decade possibly.... Decades in the making.
I think the dems are playing political limbo in seeing how low they can go.
Democrat will be a dirty word in the mid-terms. Biden will be shackled and prevented from doing anything insane for the rest of his "term".
It's amazing how an idiot "president", supported by the same idiot party in the Senate and Congress, can cause such a dramatic reversal of personal wealth and fortune in just over a year.
Got to hand it to the dems- they have done in one year what our enemies have not been able to do for nearly 250 years!
There is a vocal crowd who oppose the inflation but just as many support MMT among the right also.
Some are predicting that this year the Fed will have to choose between managing inflation and causing a recession or allowing inflation to sustain growth in the economy...that we have run out of ammunition to have economic growth without inflation.
This could be a damned if we do, damned if we don't sort of situation here....but go ahead and blame it all on Democrats and keep believing the fantasy that the right is going to solve all our problems. This is a long term problem coming to it's head this decade possibly.... Decades in the making.
1. I pay attention to economics. MMT is a hard left construct. The father of MMT the Australian Bill Mitchell is a communist. Those in the US familiar almost certainly learned of it from Bernie Sander's economic crew. The several loudest US based MMT proponents at UMKC, Bard and TCU are all literally communists or very hard core left wingers.
I'm not sure I've heard a single conservative back MMT.
__________
2. It's not damned if we do or don't. The Fed. will tighten slowly in hopes of quelling inflation and allowing continued accelerating growth but they will continue to tighten and even cause a recession if need be.
It sucks but history has taught us a few things.......recession is preferable to ongoing high inflation both are preferable to deflation.
We are well on our way to the "you will own nothing and be happy" dystopian vision that Biden, Kamala and their handlers insist Americans want or need...
Shut up and support Ukraine ya selfish mob of unwashed racists! *Sarc!
Clearly you're treasonous if you want to complain about high prices under the Great (81 million votes!) Joe Brandon. Ya dog faced pony soldiers.
Shut up and buy your petroleum based lithium ion slave labor electric vehicles.
Now vote for the Democrats, the Party of the working/middle class.
Peons.
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