Here we go folks. Jumpin’ ju-ju-bones, the first wave of producer driven inflation has just been quantified. The economic analysts are shocked, stunned, flabbergasted and surprised, because the January single month wholesale inflation of 1.0% is double what they expected.
The “producer price index” is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate (processing), and then Final (to wholesale). Today, the Bureau of Labor and Statistics (BLS) released January price data [Available Here] showing a dramatic 9.7% increase year-over-year in Final Demand products at the wholesale level.
Check out the single month wholesale price increases in these categories [Table 2]: Beef jumped 6.5% in January (43.9% for year). Gasoline jumped 1.9% in January, (53.9% for year). Diesel fuel jumped 9.4% in January (56.5% for year). Cooking oil 4.7% in January (36.4% for year). Home heating oil jumped 7.3% in January (47.4% for year). Pasta jumped 3.0% in January (16.2% for year). Tires jumped 4.6% in January (9.0% for year). Wholesale cleaning supplies jumped 3.8% in January (34.9% for year).
Unfortunately, there is nothing upstream in the supply chain and manufacturing pipeline to suggest that higher prices at the retail level are not coming. The price of raw materials, and the wholesale energy costs to process those materials into finished goods, are still rising.
[Modified Table-A to remove noise]
Exactly as we suspected last month, the temporary drop in gasoline was the only reason December producer inflation was not MUCH higher. However, that said, the BLS did revise December PPI inflation slightly higher putting it at 9.8%. The cumulative costs of energy price increases continue to drive inflation in the entire system of goods production.
Year-over-year PPI for November (7.0%), December (7.0%) and now January (6.9%), shows the overall inflation in the wholesale supply chain is structurally here to stay. We can expect much higher prices at retail for the foreseeable future.
Keep in mind that these figures are backward looking. In my estimation the massive price increases the bureau has just quantified in January and the preceding months is the end of the first wave of massive inflation that CTH warned about last October.
“Do what you can do now to start preparing your weekly budget in ways you may not have thought about before. Shop sales, use coupons, look for discounts and products that can be reformulated into multiple meals or multiple uses. Shelf-stable food products that can be muti-purposed with proteins is a good start. Consider purchasing the raw materials for cleaning products and reformulate them yourself to avoid these massive increases in petroleum costs.” [October Warning]
The recent announcement of price increases we have discussed, from food producers specifically (Kraft-Heinz, Proctor and Gamble, etc.), in combination with massive fertilizer and farming costs for future yield, is the second wave that has yet to be quantified. The second wave of retail inflation is only just beginning to arrive now and will extend throughout the spring/summer of 2022.
CNBC economic analyst Steve Liesman is struggling to reconcile the economic data from the last three months against his own prior claims that he could not/would not believe the economy and inflation were as bad as the BLS statistics reflect. I do not like these elitist financial analysts who have zero connection to the Main Street economy.
Today, at the end of his remarks (very end of video below), showcasing just how disconnected these analysts are, Leisman shrugs off the massive inflation impact by saying consumers seem to be “taking it just fine.” WATCH:
No doofus, we are not taking it “just fine.”
At the end of these statistics are people really suffering and trying to figure out how to take care of their families when everything costs so much. Working people who live paycheck to paycheck are being crushed by this Bidenflation, and most people are one small event away from a major checkbook crisis. A broken car, a drop in hours worked, or an unexpected household expense can be extremely stressful right now. No one is taking this “just fine“, regardless of how much we have prepared for it.
I do not like these analysts.
(Business Insider) – Producer prices in the U.S. jumped by much more than expected in the month of January, according to a report released by the Labor Department on Tuesday.
The Labor Department said its producer price index for final demand surged up by 1.0 percent in January after rising by an upwardly revised 0.4 percent in December.
Economists had expected producer prices to increase by 0.5 percent compared to the 0.2 percent uptick originally reported for the previous month.
The sharp increase in producer prices was partly due to a substantial rebound in energy prices, which spiked by 2.5 percent in January after tumbling by 1.7 percent in December.
Food prices also showed a significant rebound, jumping by 1.6 percent in January after dipping by 0.3 percent in the previous month. (more)
With the bad news it is most likely worse. Why believe data driven by Big Gov, it’s manipulated beyond recognition.
The price of diesel embeds itself into everything for the simple fact that commercial vehicles use it before it delivers to the consumer shelves. From the ground and every step in between, there is a diesel cost until you can put your hand on it.
To blue states with high sales tax, inflation is a windfall tax increase.
Your comment has nothing to do with what I wrote. I have an MBA – Financial Management & Economics, Northwestern Graduate School of Management – Kellogg.
I have a great deal of experience in addition to education in the realm of micro/macro economics.
Wow
Second that!
He just added to what you were saying, times are tough lighten up!
Oh yeah? Well, I completed 10th grade but got my PHD in life experience.
All you have added so far with your education is parroting what Sundance already wrote. Parroting does not take an MBA, just a keyboard will suffice.
Bertdilbert, I have a business degree from UT Austin. My education started, however, when I moved to the UK and started living in a wider world.
I have, more times than I can count, said that if someone said I could have my expensive degree or my 20 years abroad, I’d tell that person to give me a match…and I’d torch that diploma faster than you could blink. Life gives the finest education one can get. And believe me I got one more valuable than any I could have received at any cloistered university.
I did not choose poorly. I wish I’d chosen sooner.
Well, I am not impressed by titles much. I guess that reflects in that my last name here is a comic strip character!
Title Power only works for people who are impressed by titles. Joe Biden has the highest title in the world, President of the United States. Yet few respect him.
Trump on the other hand is knowledgeable on all facets of power which makes him successful. The title only gives him additional power.
People who rely on titles generally lack the power of likeability and may suffer from low self-esteem. I think if you examine this you will find it to be true.
My original husband is a retired surgeon. And since credentials are being thrown around per the above, he holds a Phi Beta Kappa key. Bright, but not smart.
The love of my life I have been married to for 35 years was a bus driver when I met him. He also holds the same degree as you…PhD life studies. Smart, skilled…I’ve never known anyone like him
To reprise…I did not choose poorly. I wish I’d chosen sooner.
Moving to the UK must have been an experience. Would you like your coffee black or white? Is it a scone or a biscuit? And you suddenly discover you have been spelling color wrong all this time! I am on tenterhooks waiting to see what happens in Canada!
😊I have reverted to type. I insert “u” intoeveryt word which requires it…favour, labour, and, yes, colour. Milky coffee please. And the eternal question will always be, do you put milk in your cup before tea is poured, or after? So far there is no conclusive answer. Ask for biscuit there, you’ll get what we call a cookie. Pronounce “scone” as “scon” and you’re practically a native.
On Canada, I am as well. So far crickets out of the mother country, a sister member of the Commonwealth. Check Gates of Vienna, an outstanding site for further information on the various countries our lame media will not report. B
Back in 1975. I was in eight grade. Actually had a teacher say a PHD . means piled higher and deeper.
I remember a “brainteaser” type test about that timeframe that had the question:
0
———
B.S.
M.S.
P.H.D.
Now their “answer” was 3 degrees below Zero.
The real world correct answer that we came up with was:
Bull Feces, More Feces, piled higher and deeper.
Thanks for the memory.
In fact, there are some mistakes that are so obvious, that only really educated people are tempted to make them.
Surfing the internet with a message board is not taught in schools. That falls under life experience. 🙂
🤣 🤣 🤣
In my line of work there is a direct graphable correlation between the intelligence of a masters degree and an increasing absence of common sense.
As Mark Steyn says, the world is full of people who are overcredentialed and undereducated. His is an 8th grade education from a UK grammar school, where his curriculum equalled and even surpassed a liberal arts college one here. I often think what that man knows isn’t worth knowing.
Surpassing a liberal arts degree isn’t saying much. Just sayin’…
🙂
Yes…agree. A poor comparative choice on my part. It would have been more accurate to say he got a true education, Latin included, whereas those here indebting themselves forever attending a university get none. Better??😉
I stayed at a Holiday Inn, so beat that!
Motel 6 in Albuquerque. Nitrous, crazed Samoan lawyer, and a red Chevy ragtop outside next to the wall air conditioner.
Best I can do.
Watch out for the Bats!!
I will try my very best not to hold it against you.
Ask twenty brilliant genius egg head “economists” the same question and you’ll wind up with twenty different answers.
We did…and look where it got us.
“Line up all the Economists end to end… and they will all be pointing in different directions!”
Harry S. Truman.
<I have an MBA – Financial Management & Economics, Northwestern Graduate School of Management – Kellogg>
Corn Pop went to the Kellogg School of Management also 🙂
Kellog school of Corn Pop! 🙂
There are 4 issues fueling Inflation:
When you can only build half as many trucks because you cannot get parts – the price of trucks goes up.
When people stop eating out and going to work, there is not enough toilet paper or large bottles of catsup. When people start going out to eat again, there are not enough small packets of catsup and not enough cut up chicken wings.
When there is a war on energy – people sink into Energy Poverty. Energy is Wealth that the Ruling Class cannot Horde. Make enough energy cheaply enough and it pulls humanity out of poverty. Restrict supply you push people into poverty.
Finally, Congress dumping dollars on the economy means too many dollar chasing too few goods. This is the traditional definition of Inflation and the ONLY factor that will respond to the FED increasing interest rates.
Bad News. This last year we saw Product Inflation. Next year we will see Inflation in the Service Sector.
I have a BSEE Degree from 50 years ago. Helped me build spacecraft for over 30 years including the recently launched JWST Telescope (check it out).
As for Economics all I know is I have to pay more for the gas to drive to the store to buy food at ever increasing prices and bring it home to cook with ever increasing electric and natural gas costs.
The last time I studied Economics was 1962 from a book by Dr Paul Samuelson of MIT fame. With an MBA you may recognize the name.
I watched the JWST launch live and have been tracking it ever since. Thanks for your work on it. I cannot wait to see what it can do once they get all the fine tuning done.
JWST is gonna rock!
I once worked for an officer who liked to hustle ROTC officers by having me play against them in various map war games. Something i had started doing when i was 10. He put the money into a unit welfare fund. He set me up to play a man from an affluent family. After beating the man as red force. My competition claimed it was unbalanced. We switched sides. The margin of victory was greater. The double or nothing came to $10,000. When my opfor started to behave in a umgentlemanly manor. My CO uttered my favorite quote of my life. “Never confuse a superior mind with a superior education Lt. You possess one the corporal the other”
Its those darn TRUCKER convoys, using all that diesel to keep their trucks idleing, up in Canada, driving up demand and price! THATS what it is, those darn TRUCKERS!
While I say this in sarcasm, we WILL see some libtard tweet this out in 3,2,1.
No you have it all wrong Dutchman.
These are high class problems.
Additionally, food prices are up because the truckers didn’t deliver them to the stores on time.
Another lib tweet in 3,2,1…
bertdilbert,
Me thinks, that in addition to the sales tax, it is worthy to note the income tax brackets will not keep up with wages. Sooo, for those lucky enough to get a raise, they will still get soaked with “bracket creep”. This is so 70’s that the Democrats would term this groovy. Doesn’t take an MBA to know when you’re getting hosed.
Yes, I have mentioned that before. It would really suck if if bracket creep disqualified you from the food stamps you were getting too.
When Biden said inflation was an asset, he meant for government. We have reached the stage where government is only there to serve themselves.
My bill at the grocery store resembles that remark!
Regular unleaded $3.54 a gallon, State road 200, South west Ocala Fl.
Conspiracy Reality: That’s a bargain! Gas in Los Angeles runs in the very high $4s to well over $5 per gallon.
I think, technically in Cal. the actually gas price isn’t much higher than elsewhere, its the Gas TAX that makes the per gallon cost higher?
Do drivers in Cal actually GET that? Do they READ the little sticker I assume is on every pump, that tells how much tax per gallon they are paying, or are they like the credit dependant idiots who don’t CARE what the interest rate is, or the total cost, their ONLY consideration is the monthly payment?
Dutchy, I’m in Cali and when I fill up, that sticker saying the THREE different gas taxes I pay per gallon makes my blood boil. Like you, I do wonder how many residents realize?
Count your blessings for a per gallon excise tax, if you have one. Watch for government to move from volumetric/gallon tax to a percentage sales tax on fuel so they can get in on the action.
Dutchman: I did not vote for those fuel taxes.
Do I get a discount if I read the “little sticker”? I didn’t think so but I need to buy me some gas to get to the grocery store. I live on the coast and it’s a long way to Mexico, Arizona, Nevada or Oregon.
Dutchman, I enjoy your posts but this incessant bashing of California by our fellow bloggers here and elsewhere gets a bit annoying. I am sure your state is perfect. We can’t all live in Texas.
Folks remember about a year or so ago it came out that the state couldn’t account for where the Cali gas tax money went? The story got squashed and I’ve not seen anything else on it.
CA gas (and a few other states) have banned MTBE in their gas and is actually more expensive and few refineries are outputting this ‘product’. However, the higher gas taxes there overwhelm anything else. Thank you.
MTBE, Oxygenates, and Motor Gasoline (eia.gov); sorry for the Wiki source: MTBE controversy – Wikipedia
I expect that.
$3.04 Mesquite, Texas.
Jump up and down and give thanks for that price. $4.95 Orange County, California.
“Stolen Elections have consequences” much?
$3.18 east of Raleigh, NC
As of this morning, not looked this afternoon yet…will on the way home
$3.47 in the Hudson valley Ny. Only Cali may beat us in gas taxes at this point
$3.19 in SW Missouri.
Costco in Carlsbad CA (the cheapest place in town) was $4.20. Near the 5 freeway it’s $5 buck a gallon.
And 51.1 cents per gallon are what we are paying in California gas tax. I think we are the highest in the country.
Unreal.
NC – Triangle area – paid $3.39 unleaded this morning – up 20/3 0 cents from last week.
Yep.
$3.59 all over in SWFL. REC gas, non ethanol, $3.89. Diesel is YUGE, over 4 bucks. Which makes no sense because that’s just garbage in the cracking process. But, those oil burners in the basements up north demand it.
Lowest price in my part of Port St Lucie is $3.45/gal, regular. Diesel is at $3.69/gal. OUCH!
$3.19 to $3.25 in NE TN. No-ethanol gas is available but it is more expensive. But, good for my lawnmower. My trip to work gasoline bill went up by about 100% since the days of cheap oil in late 2014.
$3.68 in Benton county Washington. Over $4.00 on the wet side. (Seattle area)
At my favorite gas station in Indianapolis, they are covered with Zhou Biden stickers saying “I did that” pointing at the total amount. I chuckle a little at that but at $3.95/gallon I can’t wait for this demented old fool to disappear with his conspirators.
Plez-U
(13)
851 Liberty Dr
Easley, SC
Station Prices
Regular
$3.05
Regular unleaddd 3.45 gal Silver Springs FL
🙂
What a joke. Too bad we don’t have free and fair elections.
Pretty bad when failure is the goal of the US government.
From Biden* and WEF perspective, it’s “mission accomplished”.
It seems it is the goal of our current government (which in reality, is now an Oligarchy) is to pit people against each other. This is becoming clearer every day. If we hate each other, we will try to destroy each other and that will inevitably crash the world economic system. The goal is to reduce the world population by 95 percent. Germ warfare – covid is the intro, not the end-all, economic unrest, even rubbing our noses in their blatant corruption. It’s all to sow discord and foment world catastrophes.
They don’t care what we are fighting about, so long as we are fighting. How do you combat it? I’m not sure, but attacking others only throws gasoline on the fire. Calm yourself. Make rational and not emotional decisions.
I don’t think this will end well for the majority of the planet. I never thought I would be around to see things get so bad so quickly.
Our supplier of medical gases, one of the giants in the industry, applied a fuel surchage of $13 to our latest monthly invoice. The fuel surcharge is more than double what it used to be, which, even then, was just a ridiculous money grab, since delivery costs should cover fuel costs, anyway. The supplier charges each customer on a delivery route as if that customer is the only one to receive a delivery. I wonder how many tanks of fuel those surcharges cover, above and beyond actual fuel consumption.
Propane $2.89 a gallon in Wilmington NC
Praxair?
Take it up with your state AG.
“The cumulative costs of energy price increases continue to drive inflation in the entire system of goods production”
All by design. #FJB
Absolutely!
Election Fraud put Joe Biden in the White House.
The Economic Policy of Democrat politicians will economically
cripple the USA and demolish the Supply Chain.
Inflation will obliterate the buying power of the Middle & Lower Class.
Don’t forget the murder of millions by the medical technocracy.
This is a feature not a bug.
And not a word from the Republicans, not a peep.
Not that it matters. They gave away their powers. They are all eunuchs now.
And since we’re supposed to be all in on diversity and all be anti sexists, I’ll include the women in that.
We’ve known about lumber prices going up since 2021. But other building materials and supplied have also gone up as much as doubling in price since last year.
Don’t I know having started to finish my basement in Oct. My garage was so full of stuff that I purchased when prices were considerably lower that we couldn’t park a car in there. I figure I’ve saved about 20-25% off current prices by getting things 5-6 months ago. Had to wait a little longer for some of it but it was acquired at much lower prices than now.
Yesterday the builders have a home so folks can tour before buying, last year that house plan with lot was 209,900 now 293,900 sqme house plan.
My entrance was wrecked a year and a half ago when they moved my old house out and put my much larger new house in (yes, manufactured house). I opened the main gate manually for a year, then it literally fell off the gate post. I am trying to rebuild a decent-looking entry and priced everything out (wood, I do the work, I dig the holes, I haul the materials to the house). It will be over 1k to put 24′ of 4 board post and rail (2 x 4, not even 2 x 6) with two 6 x 6’s to hold up the new 12′ gate. SMH. I make pretty good money now with my new job and even I am gobsmacked. How do the poor survive?
Mend clothes, never eat out, cook from scratch, garden, chickens, etc… I know some who are scrappy as can be, but they are immigrants and used to it. In the country everyone lives on less and has skills. The cities and burbs will be the ones in a world of hurt. Reminds me of an old joke from my dad who grew up in upstate NY. Vermont farmers are the poorest of the poor, I lived there and knew some. Man asks a Vermont farmer, “How do you survive on so little?” He answers, “I live on lack of expense.” When I lived in Vermont all the old time locals built their own houses without permits, heated with wood, canned and had gardens, and some even drove without a driver’s license. They were independent and tough.
Lowes &Home depot gives military 10 % discount on everything.if your not a veteran,find a friend that is.
Taking it “just fine.” Jee—yiminy Christmas, you elitist prick. NOTHING about this is “just fine” including the entire effed-up fake stolen illegitimate illegal grifting violent satan-loving maladministration intent of driving the middle class into the ground in cardboard coffins.
Thanks for the clear warnings Sundance, I’m among many who took your predictions to heart and scraped together extra preps these last few months. Still gaming the store sales every single week! Hope to pull the trigger on a little backup freezer soon as the snow melts….
Don’t neglect TRANSPORTATION. Got 6 new tires on each of my trucks.
Engines are in great shape, just rebuilt tranny on one, other was rebuilt years ago and is solid.
Going over brakes now, and sticking up on oil, tranny fluid and filters, as oil is only going up (tranny fluid is oil, too) and filters MAY get supply chain issues.
^^^This. The kiddo and I are doing all of the work on my old work truck. At 21, she’s an ugly old thing, but she runs well, only needs a few items like a new heavy duty flasher on the left turn, new dash lights for night driving, new squirrel cage for the A/C, and new plugs and wires. We’ve got multiple gallons of oil for the old girl and just did a LOF on her. Nowadays, it’s do it yourself or get fleeced.
Speaking of prepping…
IF inflation included ammunition, it would even higher!
Went to re-stock this weekend and payed more that double the price versus 14 months ago – and they didnt have 5 of the 7 calibers I need!!!!!
Good thing we bought a 7 cubic foot freezer in 2021. That baby is loaded with meat bought on sale over past few months. Gets replaced every time local grocer has a super-duper-mega sale.
The 2022 Home Foreclosure rate and crash of the Stock Market
Bubble will dwarf the collapse of the 2008 Housing Bubble.
Many Real Estate websites are hiding the vast amount of
Pre-Foreclosure, Foreclosure, Auction, and Bank Owned
Homes. It’s a Home Foreclosure tidal wave.
Add in the homes being sold after people die from covid or the vax side effects. My friend is the Registrar of Deeds, and she said they are seeing a huge influx of people coming in to file transfer on death deeds. Between those houses and the foreclosures, we are likely to see a drop in home value, but it will increase overall due to inflation I think.
Better believe housing costs will increase! With building material costs skyrocketing so goes the price of new homes making existing homes ever more expensive!
I wonder how much botox, surgery, and Mary Kay they use on Biden. He looks so bizarre.
Mary Kay?? That’s funeral home quality stuff.
I was thinking Dr. Ernest Menville secret in the movie “Death Becomes Her”. spray paint.
Only his undertaker knows.
The goals of the regime have exceeded their expectations. On a roll. We’ve been jabbed physically, mentally, socially, financially and more.
‘What a long, strange trip it will be’
Captain Wrongway blithering idiot strikes again. Can’t Build Back Better unless you burn everything down first.
All by design.
I’m all for burning everything down. Nothing works as it should anyway.
But I don’t want the commie democrats rebuilding.
Hey! Maybe the Pelosi/OBiden team can employ their superlative diplomacy skills to negotiate lower retail prices!
Excellent video on YouTube. I’d give it ZERO chance.
The Bullwhip Effect Guarantees The Fed Will Fail To Tame Inflation Gracefully – 15 Feb 2022
Pessimist says:
“It can’t POSSIBLY get any worse!”
But the optimist, being an optimist, says:
“Oh, YES it can!”
borrowed
Bet a lot of the Biden voters (especially woke suburban soccer moms) are missing those mean tweets right about now.
Kinda like: “you mean I could simply save $20 to $40+ every time I get gas and all I gotta put up with is a couple ‘insensitive’ tweets? Hmmmmm”
Insensitive, yet correct, tweets. Wait until fall sports come and kids start exhibiting adverse events. It will be heartbreaking for sure, but the soccer moms might finally get red pilled.
Saddest thing I’ve ever seen last summer… in a hotel elevator wherein a Dad was trying to figure out which shot would be the least offensive for his baseball playing son. The Dad was speaking in a conspiratorial whisper and the young man was just nodding – of course, he just wanted to play ball, and he trusted his Dad. I bet dads and moms hearts are breaking. Read a story about two different people who DIED while SKIING recently at the same resort. Snow skiing pumps up the heart, like most sports. Not a mention of vaccines, but it had never happened at that resort. The damage these vaccines have done are incalculable. Adding insult to injury, the economy is killing people’s bank accounts and there is no reason for it other than planned collapse.
You’re referring to those two 60’s-somethings Mt Bachelor deaths? I did find it odd that they didn’t say how they died like they usually do. Like running into tree, suffocating in tree well, which happens occasionally at PNW resorts. There really aren’t any killing cliffs there though. But on a good day, like on the bluebird days of this weekend, I’ve been able to hit 55-60 mph, so there’s that.
Anyway, since no news, I figured clot-shot sudden death syndrome.
It was never about tweets. The people who complained loudest about that have said zero about epithets like white supremacists, domestic terrorists, and insurrectionists. Indeed, many of them are the ones flinging those pejoratives against anyone who disagrees with the left.
You are not wrong, but I must note:
The tweets were used to paint POTUS as an insensitive mean person by those people. They helped make it fashionable for the every-kid-gets-a-trophy crowd to be a Trump hater. The sheep just followed along as If they were buying the fashionable shoe for the spring. Influencers are real, and they certainly used the tweets.
I live in NYS near the NY/PA border. Yesterday gas was $3.67. Today it’s $3.75.
Leisman is one of the BEST that CNBC has to offer. (There are a couple better than him, but so many others who just plain suck). What’s that tell you about the usefulness of this network?
Lies, man. Stopped watching CNBC years ago. I had watch for over a decade until it became so painfully obvious that they just spin numbers and stories, it is a strict DNC shop. It is fake news.
I used to have a large piece of plexiglas in front of my tv, so I could throw something in anger.
Cut the cord, and took down the splash guard, years ago,…and my BP dropped by 15-20 pts, almost overnite.
Probably added years to my life.
While I did not have plexiglass in front of my TV (good idea though).
I cut the cord when TV went from analog to digital as my local CBS affiliate complained that I had national networks via DirecTV so I was not watching their local commercials being the truth of the matter.
So when they had the plug pulled on my national networks, I pulled the plug on all television and just started buying DVD’s as I end up watching the same movies anyway, all for the low low price of 100 bucks a month, so my DVD per month budget became 100 bucks a month.
Took down the useless antenna I had for analog broadcast and was never able to get digital service as far from town as I was according to the signal radius maps.
Best thing I think I ever did, or was forced into anyway.
News is way more truthful via the internet anyways, esp. Sundance and his crystal ball (brain).
If people don’t watch MSNBC for political news because of that network’s biased spin and dishonesty, then why on Earth would anyone watch CNBC for the same degree of spin and narrative engineering on economic/financial news??
That observation has always intrigued me.
Bidung Boom Basta !
At what point will some talking head in the MSM finally wake up and declare ON AIR that no one could possibly be stupid enough to continue the Biden/Obama crew’s no-oil policies in the face of their disastrous results, and that wrecking the American economy must have been their intention all along?
Remember Obama’s comment in the 2008 campaign that “energy prices will necessarily skyrocket”? Well, they don’t do that in a vacuum. They take the prices of everything else with them. Malicious SOB.
Remember how he said, before that, that he was going to fundamentally transform the country? And before that how he was a “citizen of the world”?
Remember UNFORGETTABLY.
Answer to your first question – Only when the MSM corporate bosses decide that they have more to gain by exposing the Democrat Administration’s obscene failures instead of propping them up will they order their on-air talking heads to tell the truth….. IMHO.
I cannot foresee that happening during a Democrat Administration.
“Taking it just fine” translates to “We’re getting away with it.”
If the people cannot or will not hold accountable those responsible for inflationary policies, those responsible will continue implementing inflationary policies.
No, it’s just that he and no one he knows has been affected. I would bet you that most affluent residents of major metropolitan areas do not know what bread or milk costs nor do they care
Put aside silver content coins to offset inflation as they will appreciate and be useful when the banks freeze your accounts or paper money becomes worthless.
Or, take this silver content coins, as well as any others you have, and invest them in something with intrinsic value, that will hedge well against inflation, AND comes in easily divisible denominations; Ammo!
A year from now, you offer someone some of those silver coins, for a can of peaches, and a small sack of flour,…and I offer them some AMMO; Give ya 5 12g buckshot, and 30 .22Lr?
Who you think is going to walk away with the food?
Or you just shoot them and take both the coins AND the food?
…
I am kidding. Just a joke. 🙂
Idiots.
Just go have a couple of margaritas. That is if you can afford them. Biden admin advice.
They want to diminish middle class wealth through covid regulations and inflation. Their goal of a two-tiered society is becoming a reality. Maybe not as quickly as they’d like.
Yesterday Coke was so out of sight I don’t remember the price was just shocked, but am not paying that for sugar water with flavor.
It is weird that the patent covering the Coke formula has expired but no “generic” alternative with the exact same taste has not appeared. We have seen too much to accept that “the market” drives business behavior when corporate fascism and government persecution has taken hold in almost every industry.
I’m a Grandpa to 4 wonderful Teenagers and of course my task in life is to spoil each of them totally rotten! A year ago I would buy their favorite sodas including Coke for $0.88 for 2 liter bottles on sale (Grandpa is a softie but he knows how to shop). Today at the same store they are over $2.00 per bottle on sale and Coke is $2.65!
Thank goodness Mama (my DIL) nixed all soda about 6 months ago (braces don’t ya know)! They now drink Lemon aid and sweet tea. A gallon costs less than 2 liters of soda. Or they make their own.
when i heat kettle for a hot cup of tea i place the tea bag from my cup back into the kettle with the lid on and later that day add sugar after putting into a plastic container and sometimes add a couple of teaspoons of lemonade to make an arnold palmer a lot cheaper than soda and not paying taxes
Gotta ask, at WHAT point does an “expert” cease to be an expert?
Mark Twain quipped
“An ‘expert’ is anyone more than 10 miles from home” and in the days when horses, trains and shanksmare were the only means of transportation, and telegraph and mail the only means of long distance communication, if you were “10 miles from home” nobody KNEW you, so you could declare yourself an ‘expert’ and no one could dispute you.
But seriously, these over-educated idiots, self-declared ‘experts’ have been WRONG in their projections, and “surprised, shocked” and frankly gobsmacked since PDJT won the 2016 election and, even before his first day in office, the economy began to take off.
If they had ANY sence of honor (yeah, I know) they would all resign their positions, hang their heads in shame, and learn to drive a truck, become a plumbers assistant, or otherwise become, in some way, a productive member of Society.
O.k., just had to get that rant off my chest.
As a house painter myself, I wouldn’t want any of these experts near a brush or a roller.
Your paint would peel off your house in a matter of weeks
Lol! I drive truck…know Exactly how ya feel!!
In the Space industry before I retired an “Expert” was 50 miles away and had absolutely no responsibility for the problem or solution.
Last Thursday, diesel fuel jumped up 10 cents per gallon, from $3.99 to $4.09, here in Central NY.
Celebrate that 2.5% jump.
It’ll be another 10 weeks before they’re allowed to jump again.
🤥
hat tip to article on AmericanThinker,…if these experts can consistently be so WRONG in their predictions of inflation, which is 100 percent the result of government actions which are man controlled, thru Government/Central bank actions,…
WHAT in the world makes them think they can predict global temperatures, which are controlled by all sorts of natural non controlled by man factors, like sun spot activity, etc.?
HUBRIS, my God the hubris.
I just watched a program last week on massive sinkholes popping up all over the Arctic permafrost in Russia and Alaska.
They found that the sinkholes are spewing methane gas into the atmosphere.
And they want us to stop eating meat because of cow flatulence.
Thank God it’s only HUBRIS.
Imagine if it were MALEVOLANCE.
It is malevolence, hubris comes from getting away with it
😉
Am reading Patrick Moore’s eye-opening book, Fake Invisible Catastrophes and Threats of Doom. In it, he shows that actually, we are living in a period of the lowest CO2 percentage in the atmosphere. In fact, if man hadn’t started adding to that CO2, we were heading toward disastrous lows of CO2 that would cause vegetation to die.
If man didn’t exist to mine CO2 Gaia would have to have invented him.
Or something. 🙂
And yet the global temperature has been dropping since around 2005! It maybe earlier than that its been awhile since I looked up the number.
Staten Island, New York $3.73
We’re at $3.67 for a gallon of regular gas in Syracuse.
$3.22/gal for regular at Sam’s Club in Tallahassee, FL.
$3.499 for regular here in north central Maryland. Has been relatively stable at that price (+10¢/ -5 ¢) for several months.
$3.89-$3.99 for diesel
So tell me why frankly any person but specifically any middle class or lower income class person even consider voting for these idiots come Nov?
“Taking it”
Like the diamonds that still must be returned.
All Utility payments could be exceed ones rent payment and or their home mortgage payment.
Think about that.
Just announced. Industrial paper products going up another 13% March 1. How many things come in a box?
Time to stock up on TP and Paper Towels? But I guess that would be considered hording! Right?
Only if you let anyone know.
walgreens brand is 10 rolls for $5.00
Upstate NY gasoline February 2020 just $ 1.95 a gallon, thanks to your policies President Donald J Trump.
After a year of President * Regular gasoline is $ 3.79. Thanks Joebama. Bad policies have consequences.
That’s $ 1.84 more a gallon. That’s a 94% increase. Is anybody else enjoying AOC’s energy policies?
Not to mention all the increases sundance is now reporting across the board.
Thanks sundance and team for the great reporting on so many fronts.
I have a history of farming and have some pitchforks to prove it.
It’s award winning policy if you are out to destroy the Middle Class and make the surfs dependent on the Government.
The wealthy elites and those in upper income tiers are managing without any major concern. Their disposable income variable is hefty, so shifting some extra $$ on groceries isn’t as big a deal when you eat out so much. Gas higher? Who cares…”gas goes up and gas goes down” they say as they just pay the month’s credit card. Sure they get a tiny bit ticked when they have to pay more for the new Benz, but they’ll adjust or just add more billable hours.
It would be interesting to know what caused this. My guess would be energy policy and lockdowns, but those are just convenient suspects. Anyone got any credible analysis?
Look at the date on the chart.
??
“That $9 trillion in artificial GDP value is the most direct cause of inflation. There are other aspects related to energy policy making products more expensive (energy, gas, fuel, transportation, heating, cooling, etc), but the $9 trillion artificial spend is the largest factor of current inflation.”
On Economic Consequences, No One Really Knows What Is About to Happen… – The Last Refuge (theconservativetreehouse.com)
Thanks. I’ll read this now.
Thanks again. I remember reading this previously, but didn’t retain the main point. I’ll review it from time to time and try to keep it in mind. That should help me understand Sundance’s continuing posts on the topic.
So it looks like the lockdowns were largely responsible. The trillions injected into the economy were (mostly) in response to people not working — due to lockdowns.
I have already shifted my purchasing patterns.. meals using lower cost meats like chicken / pork and shopping at discount stores for cheaper items … no more ordering take out .. etc.
Pork will not be lower cost for long. . . .
Pork being a low price leader will not continue with new California laws, though it may still be less than chicken.
My provider/industry forecasts a 30% increase as all hogs across America will have to comply to sell to California, just like car emission standards washed over all cars nationally because of California laws.
https://www.dailynews.com/2021/12/30/bringing-home-the-bacon-tops-new-california-laws-in-2022/
I love how the state that brags it’s policies lead the nation is the one poised to fall into the ocean.
Love the newspeak. Prices didn’t rise or increase, they “rebounded”; they are an “uptick”.
I can remember those long years of living paycheck to paycheck, knowing you can’t afford to buy college-ruled paper for your child and living on peanut butter, game, fish, and whatever you can grow in your garden. Home-sewn clothes, a small hand-me-down black and white television with rabbit ears, family outings to collect blackberries and chiggers in the spring and muscadines in late summer. Price increases in the late 70’s and early 80’s meant two incomes were essential.
When these talking heads blah, blah, blah their statistics, they aren’t seeing the struggles of real people.
love the sweet taste of muscadines so much better than store bought grapes
Two months ago I priced a steel storage shed for my backyard. It was $700. Today I went back to the same Home Depot website and it’s now $900.
My son is looking for a desk for his room on Home Depot. He found one he liked Friday evening. It was about $460. He went back Sunday evening because I told him I could buy it for him for his schoolwork. It was $780. The SAME desk (he’d bookmarked it.) Needless to say, we are going junk store and thrift store hunting this weekend to try and find a comparable desk we can afford.
Maybe if the Democrats passed legislation to reduce paychecks, that would help?
The Federal Reserve has raised the interest rate on a Democrat President twice in the last 100 years. On the other hand the Federal Reserve had raised interest rates on President Trump and President Bush a dozen times. The day after the 2016 election Janet Yellen was on TV in a rage screaming that she was going to raise interest rates on President Trump and destroy his agenda! She tried multiple times.
Higher interest rates = inflation ?
Higher interest rates and reducing liquidity is about the only thing that will tame inflation. Remember the early 1980s when we saw 18% interest rates for CDs and Money Markets? It got Jimmah Cahtah’s inflation under control relatively quickly and boosted the frugal savings class.
Now? We can see interest rates rise as they should. We don’t produce anything and any rise in rates will make us unable to service our own debt as a nation. We are well and truly fooked.
No.
Yeller Yellen appears to be in mid-stage dementia in her Congressional hearings. Her eyes look lost and clueless.
We know that she absolutely hates Donald Trump and his supporters.
“Taking it just fine?”
Ok, bubble boy. How about a guy who’s a site director for a small business who has to drive his truck around a 75 mile radius every day and was paying 2.15 a gallon a year ago and is now paying 4.29! The company is small and the owner reimburses for now but is seeing the future and it isn’t pretty. The costs of materials have increased by 50 percent and waiting for them is cutting into profits big time.
Under Pres Trump my relative got the first raise in 10 years. Now we are back to this communist horror.
This idiot Leisman will tell us all we are doing fine as we wait in lines around the block for a loaf of bread!
LOL remember when the Fed was flabbergasted and flummoxed by their inability to keep inflation up where they thought it should be. Prices remained stubbornly stable and deflation was rearing its head.
Ol’ hairy legs Joe took the Corn Pop length of chain upside the head of the economy and fixed all that!
I always bought an organic whole chicken for baking because it was free of antibiotics and hormones. The chicken averaged 10 dollars per chicken because it was organic and free range. In one month the chicken now cost 25 dollars. This is at Rouses supermarket in SE Louisiana.
The media that has allowed the communist take over needs replaced stat.
Hey, LK, look around for a small CSA (consumer supported agriculture) club in your area. They may be able to supply you with free-range organic roaster/baker hens for much less.
Thank you gator. I will.
This is exactly what one would expect from a guy who got 81m votes in the last election.
Supposedly… 😉
Oh and this:
https://www.zerohedge.com/personal-finance/walmart-has-started-putting-steaks-inside-locked-metal-cages-keep-shoplifters
My grocery store located in an affluent community has baby formula in a locked cabinet.
OMG!
If I could figure out how to attach photos I could show you how our local Walmart handles it… They use those big anti theft devices on every package of meat now! And all of their personal care stuff like make up and hair care are now in a separate section that’s camera+covered and requires payment before you shop any other sections… WTH?
This should also be a case for High Treason against We The People
No tax increase does this much damage so soon.
I do the submitting to the BLS and US Census for this underlying data. As I was putting in our 12% price increases for January reporting, that were in addition to the 6% increases from last summer, I was thinking “take that you bastards”!
It’s kinda fun to be entering the data that will bring the government to ruin.
Increasing energy/fuel costs increases the cost of everything, and increasing the cost of energy is the goal of the Obama Three Administration to collapse our capitalist economy. It’ll all be blamed on greedy millionaires and billionaires. The 2024 Democratic Party Campaign posters are already being printed.
It’s all part of the Climate Change Hoax! The Democrats starting with Al Gore, Larry Fink, Black Rock, Vanguard and John Kerry are all heavily invested in green energy stocks like Tesla and Rivian.
Damn good thing we saved 4 cents on 4th of July celebrations… /s off
Don’t short change the Potatus. It was 16 cents. Yes, three coins, a dime, a nickel, and a penny. Eighty one million votes!