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US inflation higher than hoped, as annual CPI drops to 8.3% – business live
By HatetheSwamp
September 13, 2022 5:59 am
Category: Business

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US inflation rose by a higher-than-expected 8.3% in August despite falling gasoline prices — adding pressure on the Federal Reserve as it decides whether to impose another super-size interest rate hike.

The August reading of the Labor Department’s Consumer Price Index, a closely watched measure of the costs of goods and services, rose 0.1% compared to July. Economists had expected a slight month-over-month decline.

Can you imagine!!!!!!?

The Fed has raised interest rates at a historic pace...

...and Bidenflation soars!

The GOPs announce their Commitment to America next Monday!

There will be a Red Wave in November!

Cited and related links:

  1. theguardian.com

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Comments on "US inflation higher than hoped, as annual CPI drops to 8.3% – business live":

  1. by oldedude on September 13, 2022 7:02 pm
    So lets say that the average "employee" gets a 5% raise or negotiates that in their hiring (which is only available in capitalist areas). You've still lost 5% because of what pedophile joe has done to the country. So let's "assume" (and you know what that does) everyone gets a 10% raise (and worker costs are at least 35% of a company's cost). That means that inflation goes up 10%+ more to keep up with costs. And as this spiral starts slow, we end up with the same issue Germany had before the war. The way to get out of it? Have a global war to kick start the economy. And civil war is not part of this equation (as much as Isle hates that) as a "war."


  2. by HatetheSwamp on September 14, 2022 4:51 am

    So, Bidenflation was updated at 8.3% yesterday in the morning.

    We're on vaca...again. We were driving to our dinner destination with friends when their 20something daughter called to say that she'd had her job evaluation and...GOT A 2.75% RAISE!!!!!

    She was sooooooooooo excited and I almost, uh, ejaculated, "Too bad!"

    I caught myself.

    Poor, sweet girl. She has her whole life ahead of her...and, if the country's lucky, by the time she's a geezer, we have ameliorated this mess President Clouseau is creating!

    OD, tell me. Are there times that you are glad you're Olde?

    Were I in my 20s, I'd be learning Mandarin on Babbel.

  3. by oldedude on September 14, 2022 8:41 am
    Although I'm really enjoying being a grandfather of five, and one coming up, I just wish I were healthier. But I absolutely understand that sediment.

    Again, "the Man in the High Tower" comes to mind. My g-son here is bilingual learning Russian, although I'm doubting if that will be spoken. I'm opting for Mandarin also.

  4. by Donna on September 14, 2022 12:19 pm

    Lol! My 96-year old mom who has only superficial knowledge about civics and economics also automatically ties inflation to "that bunch in Washington".

  5. by oldedude on September 14, 2022 2:04 pm
    So it's a "law of nature?" that we have the highest inflation in 40 years all of a sudden? That no one did anything to facilitate that?

  6. by HatetheSwamp on September 14, 2022 2:09 pm

    Donna's mom, like everyone who thinks differently than she does, is a "low information voter."

    It stuns me how uninformed about macro economics Donna seems to be.

  7. by Donna on September 14, 2022 2:50 pm

    The last time inflation was this bad was in the early 80s during Reagan. In fact it was worse then. I haven't looked into what caused it, but I'm sure that it had nothing to do with Reagan or Carter.

    COVID lockdowns in China caused the initial drop in supply, which always causes prices to increase. Remember all of those enpty shelves?

    I'm a retail merchandiser for a third party vendor that sells stuff mainly in grocery stores. We were hit hard by those lockdowns in China. It got to the point that only half of the contents of the orders I wrote were filled. We still hsven't fully recovered. There are still quite a few items I can't get anymore.

    And to make matters worse, the prices of all of the merchandise we sell at Sprouts grocers recently went up 17%. That tells me it's costing my company about 17% more to by the stuff from China, where almost all of it is made. To believe that Biden has anything to do with that would be a very stupid thing to believe.

  8. by oldedude on September 14, 2022 5:57 pm
    Lead- Concur. No exceptions.

    I know you're just looking in to a very superficial result of what's been going on.

    Yes, I agree that lockdowns were an issue, one that we're still paying for.
    But that's on the consumption side. What you're missing is the domestic production side.

    1. pedojoe chose to shut down domestic oil production to appease his radical left agenda. When he took over, we were self-sustaining in oil production. If any of the environmentalists could pull their head out, they'd realize we (and the Canadians) have the cleanest fuel, with better, cheaper, and more environmentally friendly than any other country. Then, all of a sudden, the world is short on oil. pedojoe sticks his nose up the Saudi family's arse and got sht on because he made enemies with them a few years back and hasn't quit. We're in a proxy (on our side) war with Russia, so everything we spend on oil from them (which is crap oil anyway) will be spent to kill Ukrainians.

    2. Then pedojoe started yapping about "taxing the big companies." Okay... the companies went back to China, VietNam (manufacturing mostly owned by the Chinese), India (majority owned by Chinese).

    3. As for the "lockdown." My son works for the largest international meat exporter in the US. Truck drivers refused to OTR drive to the port of LA. Why? because they were chickenshtted the entire time they were in CA. The company had millions of dollars in meat go to waste because of the port being closed, and what was open couldn't get off the dock. If it can't get off the dock, damn sure it's not going to get to the consumer.

    4. As far as agricultural land (remember, we all consume this). When gas rises, so do the production costs. Fertilizer also is a problem, because much of that is made in where????? You guessed. CHINA. As of 2019, Bill Gates is known to have a tad under 2,100 acres. The Chinese (directly) own about 200,000 acres. As we were driving through GA, KY, TN, and KS, we heard a few times about how you could tell which were "corporate owned" (wink wink) farms. They were the ones that could get fertilizer for their crops, especially corn and wheat. One guy actually said the "Companies" were actually Chinese. They are only sending to their own (Gates and Chinese) farms.

    I'll stop there, but that's the Cliff Notes version.

  9. by Curt_Anderson on September 14, 2022 9:11 pm
    That seemed more like the Cliff Clavin Notes version.


  10. by Donna on September 15, 2022 5:15 am

    od: The ports of L.A. and Long Beach were never locked down. In fact they were expanded to 24/7 operations after China returned to pre-COVID export levels. I lived in Long Beach when that was happening.



    whitehouse.gov

  11. by HatetheSwamp on September 15, 2022 5:20 am

    My understanding, Donna, is that truckers didn't use the port in the nighttime hours so President Clouseau's Executive Order had no significance.

  12. by Donna on September 15, 2022 5:37 am
    There was an incredibly long line of freighters backed up at the ports after China opened up production when COVID died down. I remember seeing them. Biden ordered the ports to expand hours to 24/7, which they did, and things rapidly returned to normal. There are many articles about it.

    During the time when China was locking down manufacturing in its response to COVID, there was comparitively little cargo being shipped to the ports. Maybe that spoiled meat od is complaining about happened during that time - I don't know. But the ports were never locked down during COVID because obviously the ports are an essential business. Even I was considered an essential worker.

  13. by oldedude on September 15, 2022 2:52 pm
    "During the time when China was locking down manufacturing in its response to COVID, there was comparitively little cargo being shipped to the ports."
    First, there was a lot being shipped to the ports. Secondly, it was the chickenshtting of the truckers that moved about 1/3 of the shipments POLA would have gotten to port of Seattle for one. Once port of Miami fully opened, companies would go through the Panama Canal just to NOT use POLA. The ports per se may have not been locked down, but the imposed working conditions in essence shut them down by a near work stoppage. You may be essential, but you don't have a union to back you.

    And by not reading it, you completely missed the many other points there.

  14. by Donna on September 16, 2022 7:58 am
    I read it. I just wanted to clarify a couple of things.

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