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.







