U.S. Annual Inflation rose to 6.8% in November - the highest in 40 years

[Anonymous]

Reporter 3: How much long should Americans expect to be paying these inflated prices?

NEC Director: Over the course of 2022.

OMFG this is so so bad.

[Anonymous]

This is what happens when you let Democrats run the ship.

Yes Covid disruptions is a big contributor but giving people tons of untargeted funds via 1.9 trillion covid stimulus bill, rent/student loan morartoriums and expanded unemployment is all on the democratic party.

[Anonymous]

Anonymous wrote:This is what happens when you let Democrats run the ship.

Yes Covid disruptions is a big contributor but giving people tons of untargeted funds via 1.9 trillion covid stimulus bill, rent/student loan morartoriums and expanded unemployment is all on the democratic party.

And yet they're still pushing a 1.8 trillion bill that will send billions in untargeted funds out again...more inflation for everyone!

[Anonymous]

I dont think Biden or his administration can meaningfully change the inflation trajectory unless its stopping fiscal spending. Biden seems to have no backbone to tell the progressive wing of his party no and lets Sinema/Manchin take the blame. All this stuff about jawboning OPEC and vilifying meat packers is all political theatre.

The only think that's going to break this is if the fed raises rates hard ala Volker. Off course the economy is going to slow with increased unemployment by the midterms and the Democrats are going to get even pounded

[Anonymous]

Anonymous wrote:I dont think Biden or his administration can meaningfully change the inflation trajectory unless its stopping fiscal spending. Biden seems to have no backbone to tell the progressive wing of his party no and lets Sinema/Manchin take the blame. All this stuff about jawboning OPEC and vilifying meat packers is all political theatre.

The only think that's going to break this is if the fed raises rates hard ala Volker. Off course the economy is going to slow with increased unemployment by the midterms and the Democrats are going to get even pounded

And this is what is so frustrating with him. He can’t even unify the party and we expect him to unify the country?

[Anonymous]

Anonymous wrote:This is so embarrassing - he doesn't have an answer. "So the supply chain is the reason for the inflation?" Neese: "mumbles mumbles mumbles"

Reporter 2: "Are you doing anything to help people afford food?"

Neese: "Umm we did...the expired CTC and we want BBB!" Which doesn't help more than 65% of Americans.

Pathetic

[Anonymous]

jsteele wrote:Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.

Lol, again with the terrible takes Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%. (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing. Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.

[Anonymous]

Anonymous wrote:

jsteele wrote:Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.

Lol, again with the terrible takes Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%. (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing. Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.

We have not had any inflation in 30 years. I’m guessing most of you were not adults during the Reagan administration. I got out of college into a terrible economy and had two crummy jobs for a year and a half until I got a career position. I knew several college graduates who enlisted in the military just to have a job. I managed to buy a house at 24 when mortgage rates were 17%. I got a mortgage through VHDA as low income for 10.42%. No one ever mentions St Reagan’s terrible inflation. Right now we have the best job market in forty years. At $81k right out of college my kid can afford to pay 6% more for food. Gas was $1.10 per gallon when I earned $18 k per year. Thanks Ron.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

jsteele wrote:Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.

Lol, again with the terrible takes Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%. (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing. Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.

We have not had any inflation in 30 years. I’m guessing most of you were not adults during the Reagan administration. I got out of college into a terrible economy and had two crummy jobs for a year and a half until I got a career position. I knew several college graduates who enlisted in the military just to have a job. I managed to buy a house at 24 when mortgage rates were 17%. I got a mortgage through VHDA as low income for 10.42%. No one ever mentions St Reagan’s terrible inflation. Right now we have the best job market in forty years. At $81k right out of college my kid can afford to pay 6% more for food. Gas was $1.10 per gallon when I earned $18 k per year. Thanks Ron.

Do you mean the charts that show inflation peaking in 1980 at 13% and collapsing to 3% to 4% by 1984?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

jsteele wrote:Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.

Lol, again with the terrible takes Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%. (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing. Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.

We have not had any inflation in 30 years. I’m guessing most of you were not adults during the Reagan administration. I got out of college into a terrible economy and had two crummy jobs for a year and a half until I got a career position. I knew several college graduates who enlisted in the military just to have a job. I managed to buy a house at 24 when mortgage rates were 17%. I got a mortgage through VHDA as low income for 10.42%. No one ever mentions St Reagan’s terrible inflation. Right now we have the best job market in forty years. At $81k right out of college my kid can afford to pay 6% more for food. Gas was $1.10 per gallon when I earned $18 k per year. Thanks Ron.

Wrong. Because inflation is more than just food - its rent. And rent has gone up 25% in various parts of the country.

In a HCOL city like D.C. - a junior one bedroom or studio is now $2,000+/month. $2K is $24,000 a year spent on rent. So really your kid's $81K job, minus $15K in taxes and $24K in rent, is now $42K a year to live on. Not bad but for most people the rest of that is eaten up by things like food (shocker), student loans, utilities, etc.

Unless your college-grad is living with you. Is your kid in your basement?

[Anonymous]

Lol, I remember there was a debate on here whether bacon prices have gone up. I didn't know that AP is part of the vast right wing conspiracy.

[jsteele]

Anonymous wrote:

jsteele wrote:Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.

Lol, again with the terrible takes Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%. (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing. Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.

Are you illiterate or unable to do basic math? I said, "inflation will likely be lower". Inflation in November was 0.8 and in December it was 0.5. You don't appear to understand that 0.5 is lower than 0.8. Hence, inflation was lower. I was correct.

[Anonymous]

Anonymous wrote:I dont think Biden or his administration can meaningfully change the inflation trajectory unless its stopping fiscal spending. Biden seems to have no backbone to tell the progressive wing of his party no and lets Sinema/Manchin take the blame. All this stuff about jawboning OPEC and vilifying meat packers is all political theatre.

The only think that's going to break this is if the fed raises rates hard ala Volker. Off course the economy is going to slow with increased unemployment by the midterms and the Democrats are going to get even pounded

Yup, it's simple. If Biden and the Democrats don't pullback the reins of lax fiscal policy and cutdown on all of these loose left wing progressive policies, the solution will come from Fed hammer and monetary policy. Interest rates will get hiked by a lot, kicking off a recession and severe economic pullback. It will also mean the US has to pay a ton more money to service its current debt load. Kind of hard to keep handing out checks for progressive policies if there is a big recession and all of the sudden the govt has to spend hundreds of billions of dollar more paying down the interest alone on its debt due to interest rate hikes needed to control inflation. This is a very difficult problem Biden is facing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

jsteele wrote:Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.

Lol, again with the terrible takes Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%. (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing. Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.

We have not had any inflation in 30 years. I’m guessing most of you were not adults during the Reagan administration. I got out of college into a terrible economy and had two crummy jobs for a year and a half until I got a career position. I knew several college graduates who enlisted in the military just to have a job. I managed to buy a house at 24 when mortgage rates were 17%. I got a mortgage through VHDA as low income for 10.42%. No one ever mentions St Reagan’s terrible inflation. Right now we have the best job market in forty years. At $81k right out of college my kid can afford to pay 6% more for food. Gas was $1.10 per gallon when I earned $18 k per year. Thanks Ron.

LMAO. Democrats now trying to play mental gymnastics to spin the worst inflation increases in 40 years as a positive. WAKE UP PEOPLE. We now have rates of inflation on par with Mexico, Brazil, and Russia, lol. Terrible.

[Anonymous]

jsteele wrote:

Anonymous wrote:

jsteele wrote:Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.

Lol, again with the terrible takes Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%. (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing. Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.

Are you illiterate or unable to do basic math? I said, "inflation will likely be lower". Inflation in November was 0.8 and in December it was 0.5. You don't appear to understand that 0.5 is lower than 0.8. Hence, inflation was lower. I was correct.
[/quote



This is math illiteracy. Just because increases went down doesn't mean raw inflation went down. Lol, increases are increases - just go look up the CPI #s from Oct, Nov, and Dec....sorry, but you're wrong. The CPI is increasing, and Americans absolutely feel it.

If I have 10 widgets this quarter, and make 11 widgets in the 2nd quarter, I have a 10% increase. In the 3rd quarter I make 12 widgets, therefore my production over Q2 is only 9.1%, which is less than the 10% increase compared to the change over Q1-Q2. However, in raw terms I still am making more widgets in Q3 compared to Q2 and Q1, it's just that my denominator is increasing which makes it appear the rate of change is slowing. That still doesn't change the fact that the overall quantity of the denominator is still getting bigger and I am making more widgets. Inflation is NOT lower. It IS still increasing. You're just trying to claim the rate of change numbers somehow mean inflation is decreasing. It's not. Increases are increases.