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"Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since 1981, the Bureau of Labor Statistics reported Friday."
Real wages are down too! Everybody is taking a pay cut with this administration in charge. Inflation is a tax increase. Great for heavily indebted governments, terrible for everybody else.
"Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since 1981, the Bureau of Labor Statistics reported Friday."
"Friday morning a highly anticipated inflation report showed a faster-than-expected rise in prices.
And they are still probably under-reporting inflation.
Guess that war on fossil fuel was a bad idea....
Guess trying to control the weather and stop 'climate change' fell flat....
And they are still probably under-reporting inflation.
Guess that war on fossil fuel was a bad idea....
Guess trying to control the weather and stop 'climate change' fell flat....
Guess sending weapons and $60 billion to Ukraine to prolong the conflict was a very bad idea too.
Just wait until famine starts to hit the poor nations of Africa because they can't afford wheat. Will BLM protest when millions in Africa face starvation?
Some economists estimate that it added two percentage points to the rate, some say it added up to four percentage points. Put another way, out of the 8.5% rate in March, the measure accounted for something between one quarter to one half of inflation.
This is a pretty steep cliff we're about to fall off of.
Everyone who were denying the recession warnings are all now running for the exits screaming LOOK OUT!
It's not only this administation's spending policies that are a disaster. The Fed Chair is a disater and failed to act early
Quote:
That she was. In March 2021, when inflation hawks were arguing that the Biden administration’s $1.9 trillion stimulus plan was going to overheat the economy, Yellen called the risk of inflation “small” and “manageable,” and a couple of months later said, “I don’t anticipate that inflation is going to be a problem.” She wasn’t alone. For much of 2021, Federal Reserve Chair Jerome Powell said that he thought inflation would be “transitory,” and even as inflation rose above 6 percent, the Fed kept interest rates near zero
Real wages are down too! Everybody is taking a pay cut with this administration in charge. Inflation is a tax increase. Great for heavily indebted governments, terrible for everybody else.
It's a good thing we have Biden and the democrats to protect us from things like prosperity, a rising standard of living, and general feelings of well being
Thanks democrats...
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