Posts Tagged ‘Inflation’

Inflation Causing Hardship For 45% Of U.S. Households; Lower-Income Americans Most Affected: Gallup

By Mohamed Younis of Gallup, As the peak of holiday shopping approaches and winter temperatures drive up heating costs across the U.S., 45% of American households report that recent price increases are causing their family some degree of financial hardship. Ten percent describe it as severe hardship affecting their standard of living, while another 35% say […]

‘Retire’ the Word ‘Transitory’: Powell Inflation Testimony Shakes Stock Market

The SPDR S&P 500 ETF Trust traded lower by 1.8 percent on Tuesday after Federal Reserve chair Jerome Powell changed his tune on the outlook for U.S. inflation. What Happened In testimony to the Senate, Powell said he will no longer be using the term “transitory” to describe the environment of elevated U.S. inflation. “The […]

Fighting The Inflation Profiteers

Above photo: President Biden delivering remarks on the economy on Tuesday. Evan Vucci/AP News. Companies are raising prices well above increases in their costs. The only antidote is to finally take action against corporate power. In a time of high inflation, you hear a lot about companies “passing costs” on to customers. In order for […]

Nation Suffers Post-Thanksgiving Inflation Around Midsection

U.S.—Inflation has been a real problem this year, and it’s only getting worse. According to reports, millions all across the nation have been experiencing post-Thanksgiving dinner inflation, particularly around the midsection. Midsection inflation suddenly spiked after Thanksgiving, well outpacing its normal rate. “Hoo boy — talk about inflation!” said one dad in Ohio as he […]

Inflation Woes Push Consumer Sentiment to Decade Low

U.S. consumer sentiment plunged to a decade low in November, according to a University of Michigan survey, which blamed inflation and a growing sense among Americans that no effective policies have been put in place to rein in surging prices. The university’s most recent consumer sentiment index fell to a reading of 67.4 in November, down […]

Poll: Joe Biden’s Approval Scrapes New Low as Inflation Worries Build

Joe Biden’s approval with voters has hit a new low with polling released Wednesday showing barely 42 percent of the survey’s participants approve of the job he is doing in office. That is the lowest rating Biden has received in an NPR/Marist poll since he was inaugurated in January. In the poll as reported by NPR, […]

Caruzo – Take It from Venezuela: No, Inflation Is Not Good

CARACAS — Inflation is a fearsome beast, and it’s plagued my country, Venezuela, for longer than I’ve existed. While our tales and circumstances are quite different, now that Americans are facing it once more, it seems like a good time to send some words of warning from someone who has lived through the worst (and […]

Why the ‘Make America Worse’ bill will lead to higher inflation

When Sultan Abdulmejid I of the Ottoman Empire declared war on Russia in the summer of 1854, he assumed it would be an easy victory that would restore his crumbling empire back to its former glory. But Abdulmejid’s dream never came true. The Ottoman Empire was already in dire economic condition by the mid-1800s; Abdulmejid’s […]

Rob Schneider Rips Biden Over Inflation: ‘Consider Never Voting Again for These A-Holes Who Hate You’

Comedian and actor Rob Schneider has targeted the Biden administration for mockery over its inability to get a handle on soaring inflation, including energy prices. “Build back broker!” the Hollywood star joked. Rob Schneider was responding to recent news that Americans will pay more than they ever have for their Thanksgiving meals. The average cost of […]

I am Inflation, Destroyer of Worlds: Poor and Middle Class Get Smashed by Inflation.

Inflation, inflation, and inflation. People tend to think that inflation merely means higher prices. Yet the type of inflation we are dealing with is extremely problematic. Inflation is running at a multi-decade high clip at 6.2% annualized and it may be even worse since the way we measure inflation is an imperfect science. Inflation punishes […]

Dem Rep. Escobar: If You’re Worried About Inflation, You Should Want Work Permits for Migrants in Spending Bill

During an interview aired on Thursday’s “PBS NewsHour,” Rep. Veronica Escobar (D-TX) argued that people concerned about inflation should want the productivity boost that will come from provisions for work permits for illegal immigrants in the Build Back Better reconciliation bill. Host Judy Woodruff asked, “But very quickly, again, on the right, from Republicans, you […]

Warren on Increased Gas Prices: ‘This Isn’t About Inflation’ – It’s Price Gouging

On Wednesday’s broadcast of MSNBC’s “The ReidOut,” Sen. Elizabeth Warren (D-MA) argued that if “this were just ordinary inflation, we might see prices go up. But prices at the pump have gone up,” because the increase in gas prices “isn’t about inflation. This is about price gouging for these guys.” Warren said, “We know exactly […]

Biden Vows To Keep Firing His Giant Money Hose At Everything Until Inflation Is Fixed

Biden Vows To Keep Firing His Giant Money Hose At Everything Until Inflation Is Fixed WASHINGTON, D.C.—Inflation is out of control, but President Joe Biden has a dynamic solution to that problem: a giant money hose. This has so far been his solution to every other problem he has faced, but he’s especially certain it […]

Opinion | Joe Biden’s Empty Inflation Toolbox

If that’s not enough to unsettle the White House and its allies, consider this: Presidents have almost no power to ease the pain of inflation, and the voting public cuts presidents no slack at all because of that impotence. Look into the toolbox of our country’s chief executive and you’ll find it empty of effective […]

Meadows: January 6 Committee a Distraction from Three ‘I’s’ — Inflation, Invasion and Incompetence

Former White House chief of staff Mark Meadows acknowledged he was “between a rock and a hard space” regarding his decision on compliance with the January 6 House Select Committee’s subpoena. However, he insisted the work of the committee was a distraction from the shortcomings of the Biden administration and congressional Democrats during an appearance […]

Cruz: Biden Spending Plan ‘Cruel’ to Americans, Will ‘Drive Inflation Up Even More’

This week on Fox News Channel’s “Sunday Morning Futures,” Sen. Ted Cruz (R-TX) reacted to President Joe Biden signing the $1.2 trillion infrastructure bill as Democrats negotiate an even larger social spending package. Cruz described the excessive spending as “cruel” to the American public because it wouldn’t affect the Democratic elites who support the bill. […]

Summers: Odds Are We’ll Have Inflation ‘We Haven’t Seen in 30 Years’ on Current Path

On Friday’s broadcast of CNN’s “OutFront,” economist Larry Summers predicted that unless the Federal Reserve significantly changes monetary policy or something changes current economic growth, “odds are that we’re going to have inflation of a kind we haven’t seen in 30 years” and that it’s “quite unlikely” inflation will go back to a normal level […]

Surviving Inflation: 9 Easy Ways To Save Money On Your Thanksgiving This Year

Inflation isn’t happening. Inflation is happening, but it’s within norms. Inflation is happening, and it’s a good thing.  This Thanksgiving, as we celebrate together under the rule of President Biden, may he live forever, we might have to cut back on a few things to survive hyperinflation. That’s OK, though. We’re resourceful Americans. Here are […]

Dollar Purchasing Power Plunges. Inflation +6.2%. For Urban Wage Earners +6.9%, Highest in 40 years, Most Monstrously Overstimulated Economy Ever.

Fed still printing money and repressing “real” interest rates to negative 6%, new vehicle prices spike by most since 1975, housing CPI jumps, food & energy soar. By Wolf Richter for WOLF STREET: The broadest Consumer Price Index (CPI-U) spiked 0.9% in October from September, and by 6.2% from a year ago, the highest since November 1990 (6.3%) and since […]

World shares mixed as China inflation pushes higher

Producer prices, or wholesale prices, climbed 13.5 percent, adding to worries that price pressures might limit the central bank’s ability to adjust its policies to bolster growth. Chinese markets initially fell following the report, though Hong Kong’s Hang Seng recovered from early losses, gaining 0.7 percent to 24,996.14. The Shanghai Composite index also trimmed its […]

Inflation Levels Across Unites States Expected to Surge to Another Record High: Federal Reserve Survey

Inflation levels across the United States are expected to surge to yet another record high, according to the Federal Reserve Bank of New York’s latest monthly Survey of Consumer Expectations (SCE) published on Monday. The SCE contains information about how consumers expect overall inflation and prices for food, gas, housing, and education to behave. The report is […]

Warning from a Globalist : we are preparing the Discontinuous inflation

OCTOBER 27, 2021 JAWS Sometimes dangers loom long in advance; we have time to prepare for them and to avoid them if we are serious. Too often, however, even if the warning signs are more and more present, and convinced that the problem will resolve itself, we do nothing and we do not take any serious precautions […]

The U.S. Supply Chain Crisis Will Get Worse – As Will Inflation

By now it is obvious to everyone that the U.S. has a supply chain problem. bigger The highly optimized ‘lean’ transport chain from producers to consumers has clogged up. This is a consequence of the two shocks the pandemic has caused in consumption patterns. Orders dropped hard at the start on the pandemic when people […]

Yellen: Inflation Is ‘Temporary,’ It Will ‘Begin to Decline’ to ‘More Normal Level’ ‘By the Second Half’ of 2022

During an interview aired on Friday’s broadcast of CNN’s “Situation Room,” Treasury Secretary Janet Yellen said that she still thinks inflation is “temporary, although, I don’t mean just a matter of a month or two.” And “by the second half of the year, annual inflation rates will begin to decline toward their more normal level […]

Durbin on How Dems Are Addressing Inflation Worries: I Wish Reporters Would Note Spending Bill Is Paid For

On Tuesday’s broadcast of CNN’s “New Day,” Senate Majority Whip Dick Durbin (D-IL) responded to a question on how Democrats are addressing concerns about the economy and inflation by stating he wishes reporting would mention that the reconciliation bill is paid for. During a discussion on the spending bills, co-host John Berman asked, “How are […]

Psaki Points Out That Inflation Doesn’t Matter Since There Are No Goods To Purchase Anyway

Psaki Points Out That Inflation Doesn’t Matter Since There Are No Goods To Purchase Anyway WASHINGTON, DC—White House Press Secretary Jen Psaki addressed concerns over rising inflation Friday, noting that the impact of rising prices doesn’t matter because there’s nothing left on store shelves to buy. “Rising prices would definitely be a problem if there […]

Futures Dip as Oil Rally Fuels Inflation Worries

U.S. stock index futures slipped on Monday as surging commodity prices added to inflation worries, which could cloud the earnings season set to start with Wall Street banks later this week. Rising raw material costs, labor shortages, and other supply chain bottlenecks have raised concerns of elevated prices denting corporate profit. U.S. oil rose nearly […]

Rising Business Costs and Consumer Inflation in Focus as Earnings Season Kicks Off

As the third-quarter corporate earnings season gets underway this week, markets are about to get a sense of the degree to which rising business input costs were absorbed by firms and pulled down their bottom lines. Nineteen S&P 500 firms report earnings this week starting with the big banks. According to Refinitiv IBES forecasts, profit […]

Breakfast Inflation Strikes As Oat Prices Hit Record Highs

Americans are accustomed to a bowl of cereal as their go-to breakfast meal is about to experience a price increase because of rapid food inflation. This year, a devastating drought in North American oat fields has resulted in the lowest harvest for the cereal grain in years, pushing prices to record highs, a warning sign […]

Global Money Market Funds Attract Big Inflows on Inflation Concerns: Lipper

Global money market funds saw huge inflows in the week to Oct. 6, as investors favored safety amid concerns over higher inflation, supply shortages, and distress in the China property sector. According to data from Lipper, investors purchased a net $13.95 billion in global money market funds in the week, compared with net selling of […]

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