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Someone looking more Riduilous everyday
Biden is the inflation president. Inflation hurts the poor and middle class the most because the stuff that they buy every paycheck will cost more. It's a damn shame. Trump had shit on point. All Biden had to do was not fuck it up. So much for that.
Cue the 3 jackasses to come behind me and deny inflation. They could look their mother in the eye and tell a lie.
Inflation Nation: Consumer Prices Jump 5%, Fastest Pace Since 2008
Consumer prices surged higher in May.
The Consumer Price Index rose five percent compared with a year ago, the Department of Labor said Thursday. On a monthly basis, the CPI rose a hotter than expected 0.6 percent.
Economists had expected the Labor Department to report that consumer prices rose 0.5 percent in May compared with April. The consensus forecast was for a 4.7 percent gain when measured against May of 2020, which would have been the hottest reading since skyrocketing energy prices pushed up the index in the fall of 2008.
The reading for core inflation, which strips out volatile food and energy prices, was expected to rise 3.5 percent compared with a year ago. That would have been the strongest annual increase in 28 years. On a monthly basis, economists were expecting a 0.5 percent gain.
In Thursday’s release, the government said core inflation rose 0.7 percent. On an annual basis, core inflation jumped 3.8 percent. This was the hottest reading since June 1992.
The index for used cars and trucks continued to rise sharply, jumping 7.3 percent in May. Compared with a year ago, used car prices are up 29.7 percent.
Energy prices were flat, with a drop in gasoline prices offsetting increases in electricity and natural gas. Food prices rose 0.4 percent. The index for airfares rose 7 percent compared with April and is up 24.1 percent compared with a year ago.
Federal Reserve officials and Treasury Secretary Janet Yellen have said they expect this rapid rise in the cost of living to taper off later this year. The year-over-year numbers are boosted by what economists call a base effect, which simply means that the figures are based on gains over prices that were depressed by pandemic shutdowns. In a few months, however, the comparison will be against less depressed prices as the economy began to recover.
Increasingly, however, some analysts fear that inflation could go on for longer and become hotter than expected because of the combination of very low interest rates, pent up consumer demand for goods and services, a particularly large budget deficit, and the release of excess savings built up by stimulus payments.
Originally Posted by BillyCarpenter
... inflation is suddenly happening around the world, not just the USA.
... more "blame it on Biden" knee-jerk reaction to a complicated global event that will not resolve itself in 2021 maybe not until late 2022.
Allow me to educate you on this one little thing.
Remember what I'm about to say: As the USA goes, so goes the rest of the world.
I don't understand why you working so hard to deny inflation. Doesn't make sense.
Wow what a genuis prices go up amazing Mommy
This is what Barack Obama wants to teach our kids. I'd like to punch him right up side his big head. I'm tellin' ya, Obama is a racist. We should have learned that when his preacher of 20-years was exposed as a racist.
Healthcare Journal: ‘Whiteness’ Is a ‘Malignant, Parasitic-Like Condition’ Creating ‘Perverse Appetites’
A research article published last month in the Journal of the American Psychoanalytic Association describes “whiteness” as a “malignant, parasitic-like condition” that makes the host person “voracious, insatiable, and perverse,” warning that there is “not yet a permanent cure.”
“On Having Whiteness,” the apparently peer-reviewed article written by Dr. Donald Moss, a white male and a current faculty member of both the New York Psychoanalytic Institute and the San Francisco Center for Psychoanalysis discussed, went viral on social media this week once it was discovered.
The article’s abstract says the “condition” of “whiteness,” after one acquires it, gives the person a “malignant, parasitic-like condition to which ‘white’ people have a particular susceptibility.”
He added that the condition, while “being in one’s body, in one’s mind, and in one’s world,” makes the “host” specifically target nonwhite people due to their “parasitic Whiteness.”
Moss further wrote: “once established, these appetites are nearly impossible to eliminate.” Moss went on to explain how a person could pursue treatment for the “condition.”
“Effective treatment consists of a combination of psychic and social-historical interventions,” Moss wrote.
“Such interventions can reasonably aim only to reshape Whiteness’s infiltrated appetites—to reduce their intensity, redistribute their aims, and occasionally turn those aims toward the work of reparation,” he continued.
Moss wrote that “the ravages wreaked by the chronic condition can function either as warning (‘never again’) or as temptation (‘great again’).”
The doctor also said that “Memorialization alone, therefore, is no guarantee against regression” and currently, “there is not yet a permanent cure.”
One psychologist, Dr. Philip Pellegrino, commented on the article’s publication, “How do my colleagues consider this scholarship?”
GOP senators say bipartisan group has infrastructure deal
screw that.. maybe he should try an teach Major to stop biting people.
I have to defend Biden on this one. Man, fuck Europe. I'm tired of carrying their sorry ass. Where the fuck do they get off thinking we owe them something? Shit, they owe us.
Europe asks: Can Biden put his money where his mouth is?
There may be toasted marshmallows and firepits awaiting President Joe Biden and his fellow leaders on the beaches of Cornwall during this weekend’s G-7 leaders summit, but don’t expect them to be singing "Kumbaya."
With the Biden administration crowing that “America is back” and looking to bask in applause for resetting the transatlantic relationship onto a positive path, European leaders aren’t quite ready to start clapping. They’re expecting proof that America is in it for the long haul, and are already steeling themselves for Washington’s next departure from the uneasy transatlantic marriage.
POLITICO interviewed more than a dozen prime ministers, ministers, diplomats and other officials to find out what they think about Biden and his team, and where they see Europe as fitting into the new administration’s priorities. The recurring theme: concern about perceived gaps between the administration’s rhetoric and its actions toward Europe.
Take for example Belgian Prime Minister Alexander De Croo, who will meet bilaterally with Biden on June 15. In an interview, De Croo outlined his frustration with Biden’s invocation of the Defense Production Act to prioritize domestic manufacturing of vaccines.
Belgium is home to Pfizer’s biggest plant. Overall, Belgium produces “probably 20 times as much vaccine as we use,” — in De Croo’s estimation, about half of it exported outside the EU. But production has been slowed by Biden’s policy, which De Croo labeled as “America First for vaccines.” He said “there's no doubt” global vaccine production is lower as a result.
Biden’s new plan to distribute 500 million doses of the Pfizer vaccine to countries in need doesn’t alter Belgium’s sense of frustration.
“In the EU, countries can be fined for not meeting their climate goals. Biden is committed to multilateralism, but will they put their money where their mouth is?”
Senior EU official, who requested anonymity
I know that SSG doesn't want to talk about inflation but you deserve to know. From CNN:
Prices are surging. Here's what is getting more expensive
By Moira Ritter, CNN Business
Updated 2:33 PM ET, Thu June 10, 2021
New York (CNN Business)By now, you probably know that everything is getting more expensive. From furniture, to used cars, to uncooked beef roasts, consumer prices have grown steadily since January as the economy recovers and Americans are spending money again.
Also sending prices higher: The ongoing pandemic has complicated supply chains, limiting supply, even as demand for goods soars.
Overall, consumer prices rose 5% last month over the previous May -- the biggest jump since the summer of 2008 and more than the predicted 4.7% increase.
Here's what you need to know about how prices are changing.
Household furnishings
Thinking of buying a new couch? Maybe some new bedding? Be prepared to pay more than usual.
he household furnishings and operations prices, which includes categories such as domestic services and furniture and bedding, increased 1.3% last month. From the outset, the change doesn't seem like much, but it marks the largest monthly increase since January 1976.
Last spring, as the pandemic brought economic chaos, sawmills closed in anticipation of a housing slump. That slump never came. Now, lumber prices are exploding as the lumber supply has tried, and failed, to keep up with demand.
Transportation
For the second-consecutive month, used car and truck prices surged. Last month, they rose 7.3%, accounting for around one-third of the overall increase in prices in May. In April, used car and truck prices rose 10%, the biggest monthly price rise since used car data was first tracked in 1953.
The perfect storm making everything you need more expensive
New cars got more expensive too, rising 1.6% in May. That's the largest 1-month increase since October 2009.
The shift to working from home coupled with job loss last year caused auto sales to plummet. In response, many dealerships closed. While the demand for cars has returned, the supply has not. Auto plants around the world have been forced to close or limit production following a recent computer chip shortage. Now, car dealers have fewer cars on their lots. The strong demand and limited supply are continuing to send prices soaring.
Travel
Americans have been stuck at home for over a year now. But with relaxed Covid restrictions and increasing rates of vaccination, travel is returning, and people are eager to get going.
Airline fare prices continued to surge, rising 7% last month. Other forms of travel transportation continued to rise. Car and truck rentals are 12.1% more expensive, and other intercity transportation now costs 2% more.
Once you get to your destination, things aren't as bad. Intracity transportation prices decreased 0.4% last month.
Food
If you're planning on buying uncooked beef roasts or beef steaks at your July 4th party this year, you might want to reconsider. The price for each rose 6.4% and 4.3% respectively last month. As an alternative, you could try frankfurters, which are 1.9% cheaper than in April, or ham, which is 2.7% cheaper. Overall, meat, poultry, fish and egg prices rose 1.3% last month.
Fortunately, however, pickle prices fell 2.1%, nonalcoholic beverage prices fell 0.5% and fruit and vegetable prices overall didn't change, so you can at least stock up on sides and drinks for your holiday celebrations.
Notoriously volatile, food prices are continuing to get more expensive in general. The cost of food increased 0.4% in May. That's the same increase as in April.
Health
Although prices are rising, there is some good news, particularly if you need the doctor.
The medical care index, which includes items such as medicinal drugs, medical equipment and healthcare services, increased 0.9% over the last 12 months. Yes, that's higher than the same point last year -- but it's the smallest increase since March 1941.
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