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Inflation rises 7% over the past year, highest since 1982

By HatetheSwamp
January 12, 2022 6:40 am
Category: Government
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Inflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday.

The consumer price index, a gauge that measures costs across dozens of items, increased 7%, according to the departmentís Bureau of Labor Statistics. On a monthly basis, CPI increased 0.5%.


Is this all the Flatulent Fool's doing? Of course not. However, coming out of the draconian measures he is employing to, failingly, combat COVID, this was to be expected. What did the former 18 wheeler driver do to anticipate what's going on now?

As Edwin Starr so famously sang in 1970? "Absolutely nuthin. Say it again, y'all!"

The President...AND HIS PARTY... are normally blamed at times like these and Dems will be in 022.

If I'm a Dem purple district member of the House, I'm polishing up my CV and ruing the day I became an accomplice to the 020 swipe by the smoke filled room handlers of "that feckless dementia-ridden piece of crap."


Cited and related links:

  1. cnbc.com


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Comments:

  1. by Curt_Anderson on January 12, 2022 9:01 am
    Ronald Reagan was president in 1982.

    Why should anybody be surprised that there is inflation now much less blame any political party or politician?

    The Coronavirus pandemic had two major economic effects. Initially it caused people to reduce their driving, air traveling, restaurant dining, shopping and spending money generally. That's why Americans put more money into their savings accounts than ever before.

    Eventually all that cash caused them to release their pent-up demand. Also wages are up, giving people even more money to spend.

    On the supply side there are interruptions in getting products to market. Not just the international ships stalled near Long Beach but domestically as well. There is a shortage of truck drivers and people willing to do the menial jobs needed to produce the items in our grocery stores.

    Increased demand plus limited supply equals higher prices. That's econ 101.


  2. by HatetheSwamp on January 12, 2022 11:58 am

    I'm sure that you remember that inflation peaked at over 14% during Carter.

    I acknowledged that this isn't all Joe's doing but the leadership he's provided has had, if anything, a negative impact on the country and the Dems will, in my opinion, rightly suffer for it among, legal anyway, voters.




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