The Consumer Price Index rose 6.2 percent in October 2021 from one year prior - the highest it has been since 1990
* Inflation has reached its highest point in 31 years, as prices of everyday consumer goods rose 6.2 percent in October 2021 - the highest it has been since November 1990
* The Consumer Price Index was released on Wednesday and shows that gas prices jumped a whopping 59 percent over last year, as the cost of meat increased 24 percent
* When not factoring in food and energy prices, the so-called core CPI was up 0.6 percent from September 2021 and 6.2 percent since last year
* Businesses are pushing the lack of workers and wage increases onto the consumers
* President Joe Biden said in a statement Wednesday that dealing with the rising inflation will be a 'top priority' for his administration
* But Republicans have blamed the rising costs on Democrats' spending proposals
* Sen. Joe Manchin also said the problem is only going to get worse as Biden tries to pass his $1.2 trillion Build Back Better plan through the Senate
* If it passes in its current form, the United States would have the highest top income tax in the world
* RNC Chairwoman Ronna McDaniel said in a statement to DailyMail.com: 'In Biden’s America, your paycheck is worth less and you owe the government more'
* Meanwhile, a Federal Reserve report released on Tuesday shows that household debt is at a record high
President Joe Biden has vowed to make reversing the country's rising inflation a 'top priority,' after the Consumer Price Index revealed inflation is at its highest level in 31 years.
The president has blamed the 6.2 percent increase in the cost of living on 'market manipulation,' and rising gas prices, despite the nation's top economists pointing to the country's supply-chain shortages and businesses struggling to meet the demand from COVID shutdowns as the reason for the rise in prices.
Read more ....
Update #1: Biden on inflation report: 'Reversing this trend is a top priority for me' (CNN)
Update #2: U.S. consumer prices jump 6.2% in October, the biggest inflation surge in more than 30 years (CNBC)
WNU Editor: This inflation is not transitory. People who I trust and who make a living making money are universal in their belief that Washington DC's money printing and growing debt guarantees high inflation for the next two years.
Needless to say. This is damaging to the party in power .... 62% of Americans believe Joe Biden hasn't delivered on his promise to get Washington working - with his approval rating as low as 42%, dire new poll shows (Daily Mail).
4 comments:
This administration is on full deny.
Some things are water resistant or water proof. Some things are bullet proof. "
proof" or resistance does not mean something a cannot happen. There is knights armor with dings in it, where it was tested to against a bullet of such and such a calibre at so many feet (with a standard gunpowder charge).
Reserve currencies have some resistance to recklessly printing money and hyperinflation. Keyword is some. Democrats and too many Republicans act like the system is "proofed" against hyperinflation. It is not. It takes longer and it is somewhat more resistance to hyperinflation, but it can happen here.
Left/Liberals/Democrats like to throw around the word diversity gratuitously. They have no diversity. None. Look at their college degrees and backgrounds.
www.pewresearch.org/fact-tank/2021/03/10/the-changing-face-of-congress/
"75 percent of Senators and two thirds of Representatives hold a secondary degree or medical degree. The most popular is the law school degree Juris Doctor, which 179 Congress people currently hold, followed by the MBA (44) and the MPA or MPP (33). On top of the 17 medical doctors, there are also four dentists, three nurses, one veterinarian and one pharmacist in Congress."
www.statista.com/chart/24598/first-degree-colleges-of-congresspeople/
There is no mention of engineers or economists.
AOC has an economics degree. It does not count. How does a Latina (double whammy) end up as a bar tender? Because she interviewed like a dingbat or one of her references secretly sabotaged her. The reference told potential employers that you do not want to hire this know-nothing nightmare. That is how that happened.
https://redstate.com/jenvanlaar/2019/04/02/aoc-really-economics-degree-boston-university-n104191
Or maybe the liar does not have an economics degree. She has an international relations degree with a smattering of econ courses. Lied to again by the MSM.
"Eight out of 10 members of Congress lack an academic background in economics or business, according to a new project called " Defeat the Debt " out of Employment Policies Institute"
www.huffpost.com/entry/lawmakers-background-business-economics_n_934157
www.quora.com/Do-any-members-of-Congress-have-a-PhD-in-Economics
A degree does not necessarily mean anything. I remember a conversation with some Chem Es where the Chem Es talked about chem degrees. They opined you could get the bachelors in some cases without taking the tough, rigorous courses. Such a person might not be able to go on to a masters or a doctorate without additional work and might not want to. But they have the sheepskin. It is not only a matter of what degree a person has, but what courses they took.
I am real skeptical of the JDs, MPPs, MPAs and others. If a MPA was all that good the US should be on its way to nirvana by now via logical, scientific algorithms and processes taught in classes to get an MPA. Instead America is drunk walking if not headed to ruin.
The courts can rule, the US has more obligations to its citizens (really the world) than the ability of government to tax or confiscate even at 100%, which makes no sense. So it will come down to rationing, favorites/factions, war and collapse.
If MPAs were all that good, why do we need a Reboot?
LOL. Biden's actions say his priorities lie elsewhere.
As a lifelong politician biden doesn't know the citizens of this country.
Post a Comment