Inflation
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2 months later
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wrote on 9 Nov 2021, 15:25 last edited by
Inflation at the wholesale level rose 8.6% last month from a year earlier, matching September’s record annual gain and offering more evidence that inflationary pressures are not yet easing.
The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.6% last month from September, pushed higher by surging gasoline prices. Excluding volatile food and energy prices, wholesale inflation was up 0.4% in October from September and 6.8% from a year ago.
More than 60% of the September-October increase in overall producer prices was caused by a 1.2% increase in the price of wholesale goods as opposed to services. A 6.7% jump in wholesale gasoline prices helped drive goods prices up.
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wrote on 9 Nov 2021, 16:36 last edited by
Somewhere I still have a stamp album with a (I believe) 20 billion Mark stamp.
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wrote on 9 Nov 2021, 19:53 last edited by
And the reason for all this inflation is????
Simple: "We can't go bankrupt! We'll create as much money as we need."
Isn't that actually true? Since our money is the standard by which all other currencies are measured and, is no longer tied to anything for measuring its worth, can hyper-inflation even ever happen again?
To me, the sole reason why Nixon took us off any remaining measure against gold, is so the government can spend as much as it wants into eternity. Just look at the government budgets, pre and post gold standard. There really isn't any need for an income tax post gold standard. The money supply is unlimited.
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wrote on 9 Nov 2021, 20:05 last edited by
Until nobody wants our dollars...
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12 days later
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wrote on 21 Nov 2021, 17:00 last edited by
Seen on FB:
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wrote on 21 Nov 2021, 18:02 last edited by
Remember the Farm Bureau’s .14 cent 4th of July?
They’re back…
https://www.fb.org/newsroom/farm-bureau-survey-shows-thanksgiving-dinner-cost-up-14
The Brad
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wrote on 21 Nov 2021, 18:04 last edited by
Our cost for shipping a container of goods is 5 times what it was 14 months ago.
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wrote on 21 Nov 2021, 23:21 last edited by
But...I had supper with a rancher last night. As usual, talk got around to the price of cows, and especially feeder calves. He's making just enough profit to keep his head above water.
The price that ranchers are getting for their beef does not translate into the huge increases in the store.
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wrote on 22 Nov 2021, 22:04 last edited by
Deal with it, peasant.
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wrote on 28 Nov 2021, 22:21 last edited by
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wrote on 28 Nov 2021, 22:41 last edited by
Let them eat chicken.
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wrote on 2 Dec 2021, 22:02 last edited by
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8 days later
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wrote on 10 Dec 2021, 13:39 last edited by
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wrote on 10 Dec 2021, 13:51 last edited by
I'm not at all sure how you can compare the US economy, with the enormous technological and worldwide political change, to the late 60's.
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I'm not at all sure how you can compare the US economy, with the enormous technological and worldwide political change, to the late 60's.
wrote on 10 Dec 2021, 20:06 last edited by -
wrote on 10 Dec 2021, 23:26 last edited by
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wrote on 11 Dec 2021, 00:59 last edited by
11 months into Lyin' Joe's term, let me ask a question:
Several people have said that POTUS really has little influence over gas prices. Does the same apply to inflation?
What about other countries?
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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wrote on 11 Dec 2021, 01:16 last edited by
Well, first we have to consider the inflation of the 70's vs. that of today. We've changed the indicators. Right now, it's looking like inflation will come in a bit over 7% for the calendar year...If we use 70's indicators, that number rises to above 15%.
That may be the worst annual inflation numbers for the U.S., ever.
So, The Resident and his administration want us to put out the inflation fire by throwing gasoline (
) on it.I ain't no economist, but I fail to see how increasing the fiat money supply defeats inflation...
