Another jump in prices tightens
the squeeze on US consumers
Associated Press,
by
Martin Crutsinger
Original Article
Posted By: Ribicon,
6/10/2021 9:29:14 AM
Washington—American consumers absorbed another surge in prices in May—a 0.6% increase over April and 5% over the past year, the biggest 12-month inflation spike since 2008. The May rise in consumer prices that the Labor Department reported Thursday reflected a range of goods and services now in growing demand as people increasingly shop, travel, dine out and attend entertainment events in a rapidly reopening economy.(Snip) The inflation pressures, which have been building for months, are not only squeezing consumers but also posing a risk to the economy's recovery from the pandemic recession. One risk is that the Federal Reserve will eventually respond
These Keynesians will be the death of the dollar as the reserve currency for the world. Once we lose that, our debt makes us a third-world country, which is the intent of all of these globalist shills in the first place.
15 people like this.
Reply 2 - Posted by:
NorthernDog 6/10/2021 9:47:08 AM (No. 811534)
Consumer aren't just going to be squeezed for a few months - it could go on for years and get worse. And if it's like the Carter years, inflation could hit double digit rates. The only way to stop it is by choking the economy, which is what the Fed resorted to in the late 70s/early 80s.
8 people like this.
Want to know the cost of a vote for Biden? There it is. How do you like it? How do you like the increase in the price of a gallon of gasoline since January?
18 people like this.
Reply 4 - Posted by:
Red Sox Nation 6/10/2021 10:06:31 AM (No. 811565)
This is not going to end well. Inflation is a tax on the poor and middle class, and Biden is the one causing it.
13 people like this.
Reply 5 - Posted by:
red1066 6/10/2021 10:23:43 AM (No. 811590)
The companies that produce stuff are still claiming to follow the CDC guidelines. They are really following the USPS guidelines which were anyone who came in contact with someone with Covid, gets three weeks off. Add in the government's extra unemployment pay, and you have product shortages and increased prices because nobody wants to come back to actually work. What might happen is that companies will continue to produce some product to keep prices high without the added cost of labor. Then when all these people who are collecting unemployment decide they need money, they'll start wanting to come back, but the companies won't be hiring because they hired illegals to replace the U.S. citizens. The company payroll will be reduced by half because labor costs have dropped, but the company will still make higher profits because of price increases.
7 people like this.
Reply 6 - Posted by:
Ribicon 6/10/2021 10:26:48 AM (No. 811595)
The uniparty has no intention of controlling government spending, and the American people are happy to have this continue with the Fed printing money and the Treasury printing bonds to buy that money. All financed through inflation, and because interest rates are kept at zero instead of being a bit above the inflation rate, any cash assets (savings accounts, say) decrease in value by the day, and the outstanding federal debt is so high that any reasonable increase in interest rates might trigger a federal default because debt service cannot be met as is. And yet they keep spending. "The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation." Vladimir Lenin
7 people like this.
Reply 7 - Posted by:
snowoutlaw 6/10/2021 10:43:36 AM (No. 811620)
Like in the 70s the FEDs did nothing until Reagan won, then they drove interest rates to over 15% and crashed the economy hoping to drive Reagan out.
5 people like this.
Reply 8 - Posted by:
Jethro bo 6/10/2021 10:58:08 AM (No. 811640)
Note the article blames the pandemic for disruption of the supply chain that is now leading to shortages and increase prices. Not a word about an irrational goobernment dictate to destroy the economy by shutting everything down. This isn't a natural disaster. This is a goobernment created disaster of biblical proportions and it is only going to get worse.
8 people like this.
Reply 9 - Posted by:
felixcat 6/10/2021 11:23:15 AM (No. 811665)
Well, all these families and single moms with kids will start getting their tax credits so they can use that money to buy whatever they need along with their EBT cards, free ..... Ain't free stuff great?! /s
5 people like this.
Reply 10 - Posted by:
YorkieMom 6/10/2021 11:27:55 AM (No. 811670)
Unfortunately, #3, too many useful idiot democrats out there don’t care. They’re just happy there are no more mean tweets.
4 people like this.
Reply 11 - Posted by:
columba 6/10/2021 11:35:08 AM (No. 811678)
Oh gosh. It's just normal. Fraudulent President takes office and immediately increases funding to baby killers, he stops pipeline and throws thousands out of work. Next he will learn how to play the fiddle as America burns.
5 people like this.
Reply 12 - Posted by:
mc squared 6/10/2021 12:08:28 PM (No. 811713)
Inflation is temporary and you can keep your doctor.
6 people like this.
Reply 13 - Posted by:
Avikingman 6/10/2021 12:10:33 PM (No. 811715)
Bidet and the cardboard cut-out Harris could care less.
Govt. workers all get COL annually.
4 people like this.
Reply 14 - Posted by:
planetgeo 6/10/2021 4:04:33 PM (No. 811912)
Bienvenidos a Venezuela, amigos!
0 people like this.
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Treasury Secretary Janet, the world's foremost economist (second only to AOC), says her old friends at the Fed can print as much money as they want and the government will keep spending it, just like in Weimar Germany.