Now approaching termial velocity. This ride won't last too much longer.| Submit your comments on this article |
| Economy |
| Inflation accelerating faster than expected, says Obama economist Lawrence Summers |
| 2021-05-16 |
| [Washington Examiner] Former Treasury Secretary Lawrence Summers said Friday that inflation is going up even faster than he predicted, pushing back against the more rosy economic outlook of the Federal Reserve and the Biden White House. "If only Joe knew" "I was on the worried side about inflation and it’s all moved much faster, much sooner than I had predicted," Summers wrote on Friday. "That has to make us nervous going forward." Annual inflation rose to 4.2% in April, the highest in nearly 13 years, with costs rising across the board, according to a report released by the Department of Labor earlier this week. Summers cited the costs for labor, housing, and medical services as driving inflationary pressures within the economy during an interview with Bloomberg Television. |
| Posted by:Besoeker |
| #8 Prob tied to axis wobble climate change. |
| Posted by: Skidmark 2021-05-16 22:38 |
| #7 |
| Posted by: Skidmark 2021-05-16 22:37 |
| #6 Now approaching termial velocity. This ride won't last too much longer. |
| Posted by: Besoeker 2021-05-16 09:38 |
| #5 Inflation accelerating faster than expected, says Obama economist Lawrence Summers 'Not even our administration could fuck things up this bad and this fast!' |
| Posted by: Raj 2021-05-16 09:33 |
| #4 I still don't discount "demand inflation" (lumber, for example). Labor costs going up as employers increase wages to attract workers as so many don't want to work courtesy of the USG. I read somewhere that the weather is accounting for poor crop yields. Add it all up, and it's just a mess |
| Posted by: Clem 2021-05-16 09:13 |
| #3 How Strong is the Dollar since the Socialist-Democrats went on a Trillion $$ spending spree? Click and pick a country we buy/import a lot of food and goods from and see the USD$ value to their currency. |
| Posted by: NN2N1 2021-05-16 09:08 |
| #2 Bread, milk, eggs, Bacon, can goods, Sugar, Coffee and etc... are all up in Wally World stores. We have strangely noted that our area Food Loins and IGA supermarkets are actually lower in price, better stocked and have further out Best By Dates expiration dates than Wally World on too many items. |
| Posted by: NN2N1 2021-05-16 09:00 |
| #1 Nobody expected this. |
| Posted by: Bubba Lover of the Faeries8843 2021-05-16 02:27 |