Inflation Surges to 7% and is Accelerating
Holy crap.
The US consumer price inflation index rose 7% over the past year, the steepest climb in prices since June 1982, the
Bureau of Labor Statistics reported Wednesday.
It was also a faster rate of increase than
November’s 6.8%, and higher than economists had predicted.
Stripping out food and energy costs, which tend to be more volatile even in non-pandemic times, inflation rose to 5.5% between December 2020 and December 2021 — the biggest annual jump since February 1991. That was a much faster pace than in November, when core inflation stood at 4.9%.
And liberals do their best Frank Drebin imitation: Nothing to see here, Please disperse, nothing to see here.
I agree Mar. I am pretty sure Le Roi would either blame Trump directly or make a comparison on how everyone not liberal supported him so we are still the ones that are wrong, bad and evil at the least. If not ‘Nothing to see here’, it is ‘Look over there!’ or ‘Squirrel!’
This started with GWBush’s “rescue” of the banks, GM, and Chrysler, and the Fed purchasing $zillions of crap mortgages and a lot of other not-so-good debt. Then came Obama, with the aim of putting drunken sailors to shame. Trump did two stimmies, and Porridge-Brain did another.
The Parliament of Whores a/k/a Congress assisted, of course.
Shortages lead directly to price increases .
Building materials like roofing took 5 increases in 18 months and markups on new costs remained the same or even increased by suppliers based in availability
Every increase stuck .
Capitalism 101