The Bureau of Laor and Statistics (BLS) releases June inflation data [BLS RELEASE HERE]. Overall, the June rate of inflation decreased 0.4%, significantly faster than anticipated as energy prices and gasoline prices dropped.
Consumer demand on non-essential goods and services also contributed to a lowering of overall inflation as consumers continued holding back spending on products [Table 2]. Despite the tentative consumer spending, we should still anticipate significant GDP Growth in the second quarter as the value and volume of exports will push GDP statistics, despite consumer spending contraction.
[Table 1]
To be brutally honest, we are still in a painful cycle created by the Biden influx of illegal aliens, non-productive consumers, that have significantly exploited the U.S. economy. Until that influx can be removed from domestic consumption, there will remain artificial, inorganic upward pressure on all prices.
Deport more illegal aliens, cancel more H1Bs and other visa exploits, and we should see inflation retract to pre-influx levels as well as a return to upward pressure on wages. A net gain in domestic economic wealth can happen with significantly stronger efforts toward removals of illegal aliens (economic migrants) who are consuming at a level higher than the economic productivity associated with their existence.
WASHINGTON (AP) — U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected.
Prices dropped 0.4% from May to June, the largest monthly drop in four years, the Labor Department said Tuesday. On a yearly basis, inflation declined to 3.5%, down from a year-over-year gain of 4.2% in May and lower than many economists expected.
[…] excluding the food and energy categories, core prices were unchanged in June, a positive sign that underlying inflation is cooling. On a yearly basis, core prices rose just 2.6%, down from 2.9% the previous month. Core inflation remains above the Federal Reserve’s target of 2%.
The core figures suggest that the gas price spike from the Iran war, while it pushed up airfares and some other costs, hasn’t so far led to broad-based, sustained inflation, economists said.
“This reading is very much in the camp that the inflation we’ve had this year is transitory,” said Michael Metcalfe, head of macro strategy at State Street Markets. “Yes, gas prices went up, but nothing else did, more or less.” (more)
It is not going to be a normal economic approach toward prices until organic Main Street economics can get back into position. The continued activity by an illegal alien population is like a wrench in the machine.
Removing ten percent of the overall population is not easy, but it will -if successful- lead to more per capita wealth. Exit pressure must be maintained.
They were talking about the prices of rent skyrocketing in NYC because of all the ILLEGALS they allow in there and then they give them free housing which means there is a housing shortage which means prices go thru the roof.
When something like housing or healthcare, or even food, is subsidized, it creates demand. This is one of the reasons for the foreclosure crisis and housing price drop in 2007-2009. It was too easy to get money to help buy a home which qualified many for more home than they could afford. After a while they couldn’t make payments and walked away leaving us with 50-70% of the market as bank owned highly motivated(low selling price) sellers.
Banks actually competed to lower prices to get rid of these homes as fast as possible without any care of losing money. Then, investors offered even less than bank asking price, which was half of non-foreclosure sellers, causing the market to just puke.
Do you believe that there is the political will in DC to actually implement these policies? I don’t see it happening as long as the RINOs control the Senate….am I overly cynical or am I just a realist?
Eye on Thune !!!
This is more like a 12 year project than a 4 year one, sadly. The biggest reason for that is the 6 year terms of the most corrupt group of humans on the planet – the US Senate.
The UniParty has no political will for anything except more spending, faster.
Realist.
The problem is that their incentive is aligned with selling us out. In order to change human behavior, you must first change incentive. In this case we need to speak with one voice that says we have had enough, to show them that we are not putting up with anymore, and that we will use every Constitutional and legal means to ruin their lives if we do not get our way.
Make it hard, very hard on hiring of illegals.
Hit people that hire illegals in the pocketbook.
I read somewhere that the Trump Administration has purchased a fleet of passenger jets for DHS to use for deportations.
We won’t have to rely on air corporations “allowing” our President to charter flights.
With its own fleet of jets the DHS will be able to fly illegal aliens back to where they came from virtually around the clock.
If President Trump is successful in getting “Con Air Deportation” up and running at full capacity, we will get that significant “removal” that Sundance is speaking of.
So you are saying that illegals are eating us out of house and home.
The UNIPARTY is. They just use illegals to do it.
And now DHS announcing no more car stops since people are getting shot. Something gotta give here or we will be stuck with the world’s leaches forever.
If illegals are getting shot, tough luck, get out of my country.
DHS is negotiating their surrender.
Temporary. Apparently tossing in a courtesy training program to appease Susan Collins, after which the traffic stops will resume.
Tiggers and chicks
Obama’s (chiggers and ticks)
parasites
Yet DHS seems to be backing down and Minnesota won a stalemate over Ice…….
Increased pressure is called for!
Here’s the problem as I see it. Say inflation rate goes down to something more manageable, household budgets remain pinched. Unless and until wages catches up even a 0% inflation rate locks in prior increases. Becomes permanent. And that’s not even considering shrinkflation. Portion sizes smaller, packaging smaller, but pricing remains same as old price was for more. Look no further than cereal boxes that are the same size on shelves, but only one-inch deep, used to be 2.5″.
Only *deflation* restores consumer prices. And that comes with its own brand of problems. Though the corrections are truly necessary they do cause destabilization in markets that are built for pricing in only one direction – up.
It’s profoundly complicated. And while fuel prices can come down, the shock of big inflation dissipates into historical norms, what’s done is done, and going back down faces much stronger resistance than going up.
All the factors Sundance describes are true. But the inflation that the hostilities in the Strait of Hormuz caused remains as its legacy. And my household budget remains severely pinched, just spent $250 at the supermarket for $225 of groceries four months ago, that was $100 of groceries six years ago. And that’s not a monthly shopping visit, more like every 7-10 days. And that wasn’t even my meat shopping cart.
We need deflation to restore. And that’s a pain a lot of well-healed interests don’t want to feel.
Wages growing faster than prices also cures this. Deport the illegals and H1Bs! Less labor supply will increase wages paid to American workers.
Don’t shoot the messenger but exporting the illegals will not be done soon enough to impact the midterms which we are gonna lose. This is what the Repubes have been planning all along of course.
They do seem to be working rather hard at it too.
Completely agree with Sundance! Just got back from the grocery store where I refused to buy ground beef for $8.99 per pound. Don’t tell me about what the “data” says. I’m dealing with reality and reality says those spouting off about the data are FOS.
I bought some today for $4.99/lb for 85-15
Defund all payments to illegal aliens. Freeze the borders and refuse entry to pregnant women, require huge bonds for entry of anyone else. Get those illegal aliens OUT! of the USA. NOW.
Defund the fraud – stop all redistribution of We The Taxpayers’ coerced Federal Income tax payments. Move income taxation to the States, and let each State manage its own programs. The Federal government, which currently spends over 25% of GDP every year, needs to go back to being funded by excise taxes, tariffs, fees, and levies on the States. It needs to shrink back to its Constitutionally-mandated scope, size, and cost.
The Senate Majority Leader, aka ChiCom Mitch’s doppelgänger regrets to inform the citizenry that there aren’t 50 repugnant votes let alone 60 votes for such common sense measures…
“Removing ten percent of the overall population is not easy, but it will -if successful- lead to more per capita wealth. Exit pressure must be maintained.”
Oddly, the Left argues a version of this point when they call for a reduction in population (consumption) regarding anthropogenic “climate change,” but pretend not to know when it comes to domestic economics.
Haha. True.
The regular middle class to low income American doesn’t feel any better about the economy when grocery store prices are still through the roof. Yes, gas has gone down a wee bit. Health insurance prices are still really really high, interest rates are high.
I believe in everything Trump is doing and I pray his successor can continue, and yes PLEASE DEPORT ALL OF THEM INCLUDING THE H1B VISAS. America has been like the Titanic… going down down down. It’s going to take a lot of effort and time to turn this ship around. I am hopeful.
No inflation. …. errrr…Unless you like to eat food or put gas in your car.
Both parties want more and more legal and illegal immigration of the world’s trash. From medical and tech workers to dishwashers criminals and generational welfare parasites.
Republicans want to drive down wages for skilled workers by importing Indians and Chinese who are happy to work for about 20 percent of what White Americans earned in
1970.
Republicans also want an unlimited supply of unskilled workers to drive down wages in every occupation. Especially food from farm to supermarket to restaurants. Construction medicine everywhere. The Chamber of Commerce and Heritage Foundation are as pro anything but White American illegal immigration as the most radical democrat socialists.
The democrats want anything but White immigration for anti White racist reasons and slow genocide.
Why I’m not a conservative. Republicans want the elimination of White American workers as much as the democrat socialists do.
American economics and politics is a race war. An anti White race war.
That’s all.
Nothing to do with low wages welfare abortion gay supremacy 2 nd amendment or anything to do with all the causes conservatives embrace. They’re just distractions from the anti White American race war both parties are waging against us the White Americans