U.S. consumer prices climbed in April by the most since 2009, topping forecasts and intensifying the already-heated debate about how long inflationary pressures will last.
The consumer price index increased 0.8% from the prior month, reflecting gains in nearly every major category and a sign burgeoning demand is giving companies latitude to pass on higher costs. Excluding the volatile food and energy components, the so-called core CPI rose 0.9% from March, the most since 1982, according to Labor Department data Wednesday.
The gain in the overall CPI was twice as much as the highest projection in a Bloomberg survey of economists. Similar to last week’s monthly jobs report, forecasters are struggling to get a handle on the rapidly reopening economy.
[…]
The annual CPI figure surged to 4.2%, the most since 2008 though a figure distorted by the comparison to the pandemic-depressed index in April 2020. This phenomenon — known as the base effect — will skew the May figure as well, likely muddling the ongoing inflation debate.
Let’s see… inflation up; gas shortages; stock market crashing; horrible jobs report; Middle East on fire; southern boarder is a humanitarian crisis; and a president who can’t string three extemporaneous sentences together… this whole Biden thing seems to be going well.
Now it’s Senile Joe’s economy.
Just wondering if this would happen under President Trump watch if he had been been elected.
“gas shortages”
Wait for it….
The Wicked Witch of Michigan is trying to force the shutdown of the Enbridge 5 pipeline that’s runs underwater through the Straits of Mackinac, and which is.a major feed/supply to the near south, Midwest, and Lowe Ontario Canada. If she succeeds (there will be lawsuits, of course, and Enbridge has already given the goofy gov the raspberry) you can kiss another 4/5 thousand jobs and Detroit Metro goodbye while enjoying $4 gas by summer after refineries in Michigan and Ohio are shuttered.
Increase in gas prices. Increase in food prices. Increase in wood products. Violence in the middle east. Oil pipeline shut down. Employers that need to hire employees but cannot. Severe problems at the Southern border. Kids in cages.
And the liberals here refuse to defend Senile Joe..
Sorry, but pervert Le Roi, Johnnyv, Pat and the others refuse to defend Senile Joe.
Reminds me of The Peanut Farmer.
Trump started the inflato-ball rolling with his Stimmie, and crashed the economy with his shutdown orders. The latter was due to malicious advice from Fauci, who reversed his ChiCom-dictated position once Red China understood that crashing the economy would be an excellent way to get Trump out of office.
As to WitchBitch: Federal law over-rides her stupidity, thank God. Treaty requires TEN YEARS’ notice before that pipe gets closed.
Four months in an we are already seeing dire preview of a world without a strong leader
Dad, what did President Trump shut down since he had no authority to shut down businesses in the states.
And he was one of the first to advocate to have the states open up.
Very funny how you like to try and rewrite the history and cause of this. Lumber prices are driven up by the pandemic and the explosion of new building. Lumber prices shot up back in Oct, and have continued to climb…
Very disingenuous to say we have gas shortages, or to blame it on Biden. A private company allowed themselves to get hacked, and idiots panicked. That is what caused stations to run out of gas. The company has already turned the pipe back on and said everything should be back to normal shortly.
Under our last president we lost 500K people. 500,000 DIED because of him and his administration. And none of this would be any different if Trump was still in office. The market was inflated and is starting to come back down to earth.
Really the only thing that might be different is the border situation. Biden’s election increased the number of people crossing the border looking for refuge.
Johnnyv, gas prices have increased, at least here, from $1.80 a gallon to $3.12 since Biden has been elected. That is on him.
And no, the vast majority of the criminals breaking our laws by coming here illegally are not seeking refuge. They want jobs, welfare and some will participate in more crimes.
Inflation is getting worse and that is also on Biden, with the help if the GOP in some cases.
“Under our last president we lost 500K people. 500,000 DIED because of him and his administration. And none of this would be any different if Trump was still in office. The market was inflated and is starting to come back down to earth.”
Very funny how you like to try and rewrite the history and cause of this. Oops, was that a direct quote too?
500,000 DIED because of him and his administration.
Nope, 500,000 people in the US died because of a worldwide pandemic, which originated in China. Science has not ruled out the possibility that is due to an accidental release from the Wuhan Lab.
As of 1/21/21 2.1 Million deaths. As of date, 3.3 Million deaths.
Tuerqas, then you get the irony of my statement. Owen is blaming Biden for things that are beyond his control.
Honestly, the Trump administration probably only caused an extra 100k or so with their shitty messaging at the beginning of the pandemic, and turning masks into a political message.
Sure I do, I just still disagree that you see it too. You listed that as Trump’s fault and in my opinion. The “shitty messaging” came from the Democrats politicizing COVID and starting the fear campaign trying to get elected in November(worked too). Playing down a virus rather than causing a national panic over it WAS the right call, just like it was under Obama for SARS. if it had all happened in 2021, right after an election year, there would have been no fear campaign by Democrats whether they were in power or not.
You seemed to have listed the “Trump’s fault’ sentence with the others about things being Biden’s fault. I did not see any indication that you meant the Trump blaming line was an example of Dems wrongly blaming Trump for the pandemic. If it was, I both apologize and agree, but your second line also blamed Trump. It may have been to a lesser degree…are you saying the other lines in your first comment were Biden’s fault, only to a lesser degree? No, I think you blame Trump for certain COVID problems and Biden not at all for anything. Blaming neither shows you understand the irony. Blaming one merely shows your political party affiliation, IMO.
“but your second line also blamed Trump.”
Should have said “but your second comment also blamed Trump”.
“and turning masks into a political message.”
Senile Joe and Kamala are playing the mask politics like a fake Stradavarius.
Tuerqas, yes the statement WAS tongue in cheek, when I reread it I can see how it doesn’t come off that way. I don’t think there is anything that Trump could have done to stop the pandemic. I think they handled it VERY VERY poorly to start. Telling people NOT to wear masks and not to buy them. And THEN turning around and reversing that. The bleach & hydroxychloroquine debacle, etc. There are aspects he did handle well. But there were a few weeks that the virus spread more easily than it should. Either way, blah blah in the past. Ultimately on his watch 500K Americans died. And IMO that is why he lost the election. He lost because enough people didn’t feel safe and didn’t feel like he could handle a crisis they flipped on him. All he was good at was name calling, and that doesn’t get you out of a pandemic.
IMO Biden needs to do something to handle the border situation better. He was handed a disaster and It is a worse disaster right now. But no, Biden isn’t to blame for any made up gas crisis. He isn’t to blame for the lumber pricing or the stock market crash. These are all a result of policies from the last year thru now.
Johnnyv, you’re probably right about Covid costing President Trump the election along with the never Trumpers.
In reality, Trump really didn’t do much wrong. hydroxychloroquine did work in certain situations, he encouraged places to open up earlier.
And if Trump is responsible for 400,000 deaths, the actual number, is Senile Joe responsible for 183,000, deaths, the actual number, since January 20th?
But again, Senile Joe is responsible for the gas price increases throughout the country, not related to the pipeline hack. He is mostly responsible for the price increases since he got to office and he is responsible to for dismal job reports.
Again, I don’t think he is responsible for 400K deaths. I would guess 50-100K of those were due to early screw ups in the administration’s messaging. But that is just a number pulled out of thin air. I give him credit for making the vaccine a priority and the Warp Speed program, even if Pfizer didn’t use it for R&D.
The jobs report falls on him, but I don’t know if there is anything he could do about it. People aren’t going back to work until they feel safe. They aren’t going back to work for low paying jobs when they will spend it all on child care. 64K women stopped looking for jobs or fell off the report for some reason. This is a huge problem. Until the entire country feels comfortable, many will sit out of the workforce. I think that the next jobs report will be a lot better since now everyone who wants the shot can get it.
And I have to wonder how much the American public’s perception has changed overall about jobs. Many younger generation are demanding more from their employers. Salary & policy.
In my instance, I was laid off from work in March. I really have tried hard to get a job, mostly for medical reasons. I am not making more money being on unemployment but not less either, I get by. Arizona doesn’t pay much in unemployment.
But after a couple months,I’m ready to go back to work.
If it wasn’t for the extra money for Covid, it’s quite possible that I would be either living on the streets or dead
So, I am one of those of benefitted from the bills but I think the majority of the Covid bills were crap.
64K women stopped looking for jobs or fell off the report for some reason.
teachers’ unions closing schools.
Dad, I didn’t recall any schools laying off teachers, even when they were closed and not teaching, even when they were not teaching virtually.
Now you know who’s your Daddy, Mar…..
Dad, feel free to point anyone to those stats you have about the 64K women no longer looking for positions in the workforce.
Jonnyv, if your last comments to me are what you meant all along, I more or less agree with you. Most liberals are perfectly willing to say that Trump is personally responsible for 90% plus of COVID deaths but I think, like Mar, I respect you more than most left leaners so I accept your redirect as true. Personally I blame the CDC for at least 60% of COVID deaths. Require that if any COVID is within 6 degrees of a death it must be listed as a co-morbidity, then offer a refund to hospitals for any COVID related death, and of course you will end up with an abundance of ‘COVID related’ deaths. Heart disease, cancer, etc. were not all down 50 or more percent last year, they were mis-categorized because hospitals were both told to and incentivized to do so. Deaths in the US in 2019 is an estimated 3.4 million, Deaths in 2020 is an estimated 3.4 million. I am not saying COCID was a hoax, but the stats, fear, mandates, etc were largely a con and bid for power. Trump did not want to play the fear for power game and so became the goat. I would not blame Trump or admin for any extra deaths, just as I would not blame Biden for 2021 deaths.
“The jobs report falls on him, but I don’t know if there is anything he could do about it. People aren’t going back to work until they feel safe. They aren’t going back to work for low paying jobs when they will spend it all on child care. ”
There is one important thing at least. Take away the federal 300 a week for unemployment. Being paid $15+ to not work de-incentivizes going back to work before Sept 30. The CDC has lifted the mask mandate and jobs are available in the 15-17/hour area by the hundreds of thousands.
If you don’t believe that there are 64K women in the USA who have early grade-school aged children in districts CLOSED by the teachers’ union(s), there’s no stat I can give you. A real mother is not going to leave her 12-, 10-, and 6-year old children alone in the house all day.
YOU are the one who cited the number, pal.
Ok, Dad, I took it wrong.
I though meant those were 64K teachers.
My bad.
JV admits: “The jobs report falls on him, but I don’t know if there is anything he could do about it”
Try thinking.
On Day 1 of this shitstorm administration 1000 existing well-paying jobs were killed off and upwards of 10,000 near-future well-paying construction jobs were prevented. And that number does not include the totality of downstream jobs killed/prevented (see: Berg Pipe)
Just 10 days ago your moron of a “president” took step 1 in killing off the gig economy.
He isn’t quite done yet. Promising to sign the PRO [union] Act BJ will take the final steps to kill off DoorDashes and Ubers and all other freelance work and force workers to join and pay unions by killing by Right To Work in 28 states.
Then we have his constant harping to raise minimum wage to $15/hr while at the same time flooding the country with low wage illegal aliens, proposals to raise individual/corporate/investment taxes, raise gas taxes, spend $1.6 TRILLION on everything BUT infrastructure, and continuing to pay federal unemployment bonuses, so much so states themselves are cutting it off.
The country is crying to open up, The Harris-Biden administration want it to remain closed.