APRIL CPI up BIGLY

[HJCane]

April core CPI up 0.8% estimate was up 0.2%. Year over year a WHOPPING up 4.2% the highest number in MANY MANY years! Can't believe Wall Street and the FEd were caught off guard on these inflation numbers. THE FED RESERVE has gotten this very wrong! Too many dollars pumped out chasing too few goods. PRICES ARE SOARING and this my friends is the MOST REGRESSIVE tax to low income and middle income people and it STINGS the wallet!!

NOW INTEREST RATES START HEADING HIGHER! FOOLS ALL OF THEM. We've been talking about this for MONTHS right here in the Lounge. Leftists on here said we were crazy but we were right.

 

[HJCane]

Core CPI up 0.9% that number is even WORSE!

 

[HJCane]

For the young people out there who didn't live thru Jimmy Carter. When inflation gets going it is EXTREMELY difficult to control! During the Carter years mortgage rates were over 15% CD's paid 15%, costs of goods were thru the roof. It really is devastating to citizens. You have no idea.

 

[BreakingCane]

For the young people out there who didn't live thru Jimmy Carter. When inflation gets going it is EXTREMELY difficult to control! During the Carter years mortgage rates were over 15% CD's paid 15%, costs of goods were thru the roof. It really is devastating to citizens. You have no idea.

I remember savings accounts were at around 10-11% annual yield as well.

 

[dolcane]

For the young people out there who didn't live thru Jimmy Carter. When inflation gets going it is EXTREMELY difficult to control! During the Carter years mortgage rates were over 15% CD's paid 15%, costs of goods were thru the roof. It really is devastating to citizens. You have no idea.

My first car loan was 22%. I had no credit and no co-signer.

 

[HJCane]

From 1979

https://www.washingtonpost.com/archive/politics/1980/01/26/inflation-in-1979-is-put-at-133-percent/9af81bac-81a3-4dd8-828a-2d3f54225e27/

 

[BreakingCane]

From 1979

https://www.washingtonpost.com/archive/politics/1980/01/26/inflation-in-1979-is-put-at-133-percent/9af81bac-81a3-4dd8-828a-2d3f54225e27/

And this admin keeps paying people to not work with all these jobs available!

 

[dolcane]

Interesting (old) article from Forbes on how the government calculates inflation.

There is much incentive to keep the number low because annual increases in SS payments as well as other programs are linked to the index.

If You Want To Know The Real Rate Of Inflation, Don't Bother With The CPI

Common sense tells us the Consumer Price Index is not an adequate measure of inflation. For the second year in a row the Consumer Price Index for All Urban Consumers (CPI-U) remained under 2 percent. On average, consumer prices increased 1.5 percent, according to the government. However, the...

www.forbes.com

 

[kevinf57]

Core CPI up 0.9% that number is even WORSE!

Nothing is more destructive of the poor and middle class than inflation.

 

[CashvilleCane1]

What. A. Mess!

 

[NO.SHORECANE]

Didn't take long.

 

[krvanness]

To add to the fun, there's no gas in my area ANYWHERE. Costco got a Truck in this morning, but after about an hour of pumping nonstop the computer system managing the pumps crashed. Panera bread and other eateries in my neck of the woods are shutting down for lunch as they can't get workers (they're all getting paid to watch TV). But hey, Sleepy's approval is in the 60 percentile range, so all is well.

 

[BreakingCane]

Where are the bucked toothed donkeys to praise Biden on this historic milestone? @miamimike ?

 

[El Cubano]

For the young people out there who didn't live thru Jimmy Carter. When inflation gets going it is EXTREMELY difficult to control! During the Carter years mortgage rates were over 15% CD's paid 15%, costs of goods were thru the roof. It really is devastating to citizens. You have no idea.

I remember as high as 18% IR ... Thank god for Reagan who came in a turned it around quickly....