Highest inflation since...

[Doc]

Shocker.  And when gas prices skyrocket in a couple weeks...

[Westside]

1 minute ago, Doc said:

Shocker.  And when gas prices skyrocket in a couple weeks...

That’s winter fuel. I heard winter gas is more expensive than summer gas.

 

What a mess

[B-Man]

 

[RiotAct]

What.  A.  Mess.

 

Anyone who voted for this gang of losers should be embarrassed.

[Westside]

Worst administration ever!!!

These days will be looked back on as the time the far left extremists tried to tear down this country’s foundation.

[B-Man]

 

 

CNBC’s Jeff Cox notes the big miss against expectations:

 

Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates. The respective year-over-year estimates were for 8% and 6% gains.

 

Energy prices fell 5% for the month, led by a 10.6% slide in the gasoline index. However, those declines were offset by increases elsewhere. …

 

Markets slumped following the news, with futures tied to the Dow Jones Industrial Average down nearly 350 points after being higher earlier.

 

And this is with a roughly 10% decrease at the pump. Imagine what will happen when gas prices begin to rise, as Janet Yellen predicted this weekend. We will see even more escalation in inflation, which will further expose the “Inflation Reduction Act” as nothing more than a bait-and-switch, with Biden using inflation to pull the wool over the eyes of voters.

 

https://hotair.com/ed-morrissey/2022/09/13/breaking-bidenflation-still-roaring-as-cpi-hits-8-3-core-cpi-near-high-at-6-3-n496107

 

 

 

 

 

 Just to put wage erosion into perspective:

 

 

.

[Doc]

1 minute ago, B-Man said:

 

 

CNBC’s Jeff Cox notes the big miss against expectations:

 

Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates. The respective year-over-year estimates were for 8% and 6% gains.

 

Energy prices fell 5% for the month, led by a 10.6% slide in the gasoline index. However, those declines were offset by increases elsewhere. …

 

Markets slumped following the news, with futures tied to the Dow Jones Industrial Average down nearly 350 points after being higher earlier.

 

And this is with a roughly 10% decrease at the pump. Imagine what will happen when gas prices begin to rise, as Janet Yellen predicted this weekend. We will see even more escalation in inflation, which will further expose the “Inflation Reduction Act” as nothing more than a bait-and-switch, with Biden using inflation to pull the wool over the eyes of voters.

 

https://hotair.com/ed-morrissey/2022/09/13/breaking-bidenflation-still-roaring-as-cpi-hits-8-3-core-cpi-near-high-at-6-3-n496107

 

 

 

 

 

 Just to put wage erosion into perspective:

 

 

Hopefully everybody (also) got a 1$0,000 raise this year...

[Chef Jim]

14 minutes ago, Doc said:

 

Hopefully everybody (also) got a 1$0,000 raise this year...

 

My comp is tied to my clients assets I'm managing.  I've taken a "slight" cut in pay this year.  

[Big Blitz]

I told y'all with my anecdotal evidence just a few days ago that it is even WORSE then the media is letting on. 

 

If Trump were in office it would be beaten into your heads daily that the entire country is in Great Depression II and that it's his fault.

 

 

They have convinced millions that Biden and the Ds have absolutely no responsibility for their Covid lunacy and predictable subsequent economic meltdown 

 

The fact they talk about with such matter of factness about it is disgusting.  

 

They cheered (I have the receipts) when that first jobs report of 33 million lost jobs after the sham shutdown.  They cheered and Hillary was tweeting about us "being number 1 in Covid deaths."

 

 

Super serious virus everyone.  

 

Sorry you're watching your 401Ks burn and retirement plans go up in smoke.  What really matters is that you can get an abortion at 36 weeks.  

[Doc]

1 minute ago, Big Blitz said:

I told y'all with my anecdotal evidence just a few days ago that it is even WORSE then the media is letting on. 

 

If Trump were in office it would be beaten into your heads daily that the entire country is in Great Depression II and that it's his fault.

 

 

They have convinced millions that Biden and the Ds have absolutely no responsibility for their Covid lunacy and predictable subsequent economic meltdown 

 

The fact they talk about with such matter of factness about it is disgusting.  

 

They cheered (I have the receipts) when that first jobs report of 33 million lost jobs after the sham shutdown.  They cheered and Hillary was tweeting about us "being number 1 in Covid deaths."

 

 

Super serious virus everyone.  

 

Sorry you're watching your 401Ks burn and retirement plans go up in smoke.  What really matters is that you can get an abortion at 36 weeks.  

 

The bigger problem is the stupid audience that believes it.

[Tiberius]

Absolute insanity that the GOP can't capitalize on this. How bad must they be if this issue isn't making Americans want to vote for fascist goverment 

[B-Man]

 

 

 

 

 

 

.

[Chef Jim]

25 minutes ago, Tiberius said:

Absolute insanity that the GOP can't capitalize on this. How bad must they be if this issue isn't making Americans want to vote for fascist goverment 

Was there an election recently?   Did I miss it??  

[Your Brown Eye]

3 hours ago, RiotAct said:

What.  A.  Mess.

 

Anyone who voted for this gang of losers should be embarrassed.

 

My fiance did...and she is.

[Doc]

So did, and is, my boss.

[The Frankish Reich]

1 hour ago, Big Blitz said:

Sorry you're watching your 401Ks burn and retirement plans go up in smoke.

Not me. I’ll be honest, I missed out on a lot of the big run up in stock prices the last 2 years, having reallocated to a T bill heavy portfolio when COVID hit. 
Now those T bills are pressing up against the historically normal range (4% for relatively short term bills) which provides a nice secure stream of income for a lot of retirees. I’m getting close. 
Remember: inflation awful if you have debt. Manageable, and sometimes not bad at all, if you don’t. 

[Big Blitz]

1 hour ago, The Frankish Reich said:

Not me. I’ll be honest, I missed out on a lot of the big run up in stock prices the last 2 years, having reallocated to a T bill heavy portfolio when COVID hit. 
Now those T bills are pressing up against the historically normal range (4% for relatively short term bills) which provides a nice secure stream of income for a lot of retirees. I’m getting close. 
Remember: inflation awful if you have debt. Manageable, and sometimes not bad at all, if you don’t. 

 

 

Sky high Inflation awful if you have a planned fixed retirement 

[The Frankish Reich]

3 minutes ago, Big Blitz said:

 

 

Sky high Inflation awful if you have a planned fixed retirement 

True. It’s not good for defined benefit pensions unless they have a healthy COLA built in. It’s actually pretty good though if you want a steady stream of income from bond investments. 

[Chef Jim]

1 hour ago, The Frankish Reich said:

Not me. I’ll be honest, I missed out on a lot of the big run up in stock prices the last 2 years, having reallocated to a T bill heavy portfolio when COVID hit. 
Now those T bills are pressing up against the historically normal range (4% for relatively short term bills) which provides a nice secure stream of income for a lot of retirees. I’m getting close. 
Remember: inflation awful if you have debt. Manageable, and sometimes not bad at all, if you don’t. 

 

How is a 4% income stream good when inflation is over 8%?  

 

Inflation is manageable when it's at historic norms.  We are not even close to that now. 

[Doc]

Anything is manageable if you live within your means.  It still doesn't mean you're not getting soaked.