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| Economy |
| Inflation in 2021 7.0%; Highest since 1982 |
| 2022-01-13 |
| [BLSGOV] Index for All Urban Consumers (CPI-U) increased 0.5 percent in December on a seasonally adjusted basis after rising 0.8 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.0 percent before seasonal adjustment. This BLS report doesn't show the time series to the 1980s. But that info is available many places. The peak inflation in the Carter years was 1979 when it was above 13%. What is remarkable to me is that 10 year and 30 year Treasury Bonds are about 1.7% and 2.1% respectively. Finally, the Eurozone inflation rate in 2021 was about 5% so the USA underperformed even that measure. |
| Posted by:Lord Garth |
| #33 Re inflation ... they're not accounting for the rise in the cost of shelter (rent, mainly). Try 12% total inflation rate. David P. "Spengler" Goldman is on the case -- this means the real inflation rate i.e. that includes the cost of shelter is more like 11-12%: Worst Inflation Since '82 is Huge Underestimate This time, the CPI rent inflation rate of 4.2% undershot the private rental data. As old leases expire and new leases are written, the CPI index for shelter should rise by 14 percentage points. Shelter makes up 32.3% of the CPI, so 14 percentage points in the cost of shelter would add another 4.5 percentage points to the headline inflation number. |
| Posted by: Merrick Ferret 2022-01-13 21:54 |
| #32 #30 Thanks for the PSA. |
| Posted by: JohnQC 2022-01-13 17:59 |
| #31 ^ But, zey know nosink... |
| Posted by: M. Murcek 2022-01-13 15:44 |
| #30 PSA To All Rantburgers: Look up your vaccination code, then go to How Bad Is My Batch for a complete list of adverse events compiled by the VAERS system for your particular vaccine batch. No joke. No sarc. Per Malone on his substack today: "According to the website above, the data reported in VAERS, reproduced on the site, show that adverse events triggered by Moderna batches have varied widely. "5% of the batches appear to have produced 90% of the adverse reactions "Some Moderna batches are associated with 50 x the number of deaths and disabilities compared to other batches." Again, this is actual VAERS data. I looked up my / my family's batch and we found only nine adverse events. Malone found 742 for his batch, along with 8 deaths, 16 disabilities, and 13 life-threatening illnesses. Good luck, MF |
| Posted by: Merrick Ferret 2022-01-13 15:39 |
| #29 And building a wall 10" high around the White House suddenly seems to make sense.... |
| Posted by: NoMoreBS 2022-01-13 14:07 |
| #28 We (non dem voters) didn't start the fire... |
| Posted by: M. Murcek 2022-01-13 13:59 |
| #27 A key inflation measure climbed to a record high in 2021, as pandemic price hikes just aren’t going away. The US producer price index, which tracks what America’s producers get paid for their goods and services on average over time, rose 9.7% last year, not adjusted for seasonal swings. It was the biggest calendar-year increase since the data series began in 2010, according to the Bureau of Labor Statistics. Stripping out prices for food, energy and trade services, which measures the changes in margins received by wholesalers and retailers, the inflation index rose 6.9% last year, compared with a modest 1.3% increase in 2020. |
| Posted by: Deacon Blues 2022-01-13 13:57 |
| #26 Fauxi's approval is below Joes today. Uh oh... |
| Posted by: M. Murcek 2022-01-13 13:56 |
| #25 * they're just *lying*. |
| Posted by: Merrick Ferret 2022-01-13 13:55 |
| #24 All of those brilliant minds and no one knows how to balance a checkbook. Of course they know. They're just wine. Larry Summers spilled the beans on this nonsense last spring when he said Magoo's stimulus was too big by a factor of 8 or 9. Summers said what everyone knew but refused to say: shoot $2 or $3 trillion into the economy with a bazooka while locking people down, cutting back on oil supply, and paying them not to work, and you'll get hyperinflation. So effing obvious. We knew these hopeless clowns were lying. |
| Posted by: Merrick Ferret 2022-01-13 13:55 |
| #23 Even lower than 33 among independents, whomever they may be. |
| Posted by: Besoeker 2022-01-13 12:29 |
| #22 the leftist media's campaign to absolve Biden of inflation is only partly working his approval was at 33% last week for comparison, Istar was in the upper 30s, Waterworld in the upper 40s Gigli was about 10 (averaging the review and audience) so Biden isn't at that level yet |
| Posted by: Lord Garth 2022-01-13 12:15 |
| #21 Really pushing the 7% as truth, and that it because of covid instead of the response to covid. Deflate and deflect. |
| Posted by: swksvolFF 2022-01-13 12:10 |
| #20 Stolen elections have dire consequences. Obama and Biden's legacy. |
| Posted by: JohnQC 2022-01-13 11:51 |
| #19 Front page of the wife's Dallas Morning News noted the 7% and blamed the pandemic and supply chain issues. Therefore, it'll go away in a few months, right? |
| Posted by: Bobby 2022-01-13 11:41 |
| #18 If they're going to compare now to 1979 they should use the same "basket" of items that made up the CPI in 1979. I suspect that would be a very ugly number. |
| Posted by: Matt 2022-01-13 11:04 |
| #17 And to make it even more unpalatable, new appliance (and other larger item) deliveries can often run 6-8 weeks after order. 'Supply Chain Issues' and all that. |
| Posted by: Mullah Richard 2022-01-13 11:01 |
| #16 I told my Speed Queen washer and dryer story a week or so ago. Yes, I question the 7% as well. Appliances are a solid 15%. My health insurance jumped 20%. Had a supplier call and suggest tagging certain items up 30% or I won't afford to replace them. I've been food shopping. I"d like to know what has been included to lower the number to 7%...it isn't bullshit; that is up too. |
| Posted by: swksvolFF 2022-01-13 10:51 |
| #15 ^ They don't "get" supply and demand enough to understand that a tiny, temporary distortion will not solve their problems. |
| Posted by: M. Murcek 2022-01-13 10:32 |
| #14 The Marxists *do* understand supply and demand curves (and thus basic economics). The give-away that they at their core understand the subject is the Biden gesture to release supply from the strategic reserve. Only those who "get" supply and demand aka "basic economics" would make such a move. They're self-indulgent liars with the rest of their policy decisions. Once you "get" supply and demand, you can no longer just sweep it away when you don't like how it conflicts with a pet theory/fantasy. We'll never be able to have an intelligent conversation with the rank-and-file leftists on this matter because they made sure to dumb-down the education system. |
| Posted by: Crusader 2022-01-13 10:28 |
| #13 White House admits they were NOT prepared for inflation surge: Economic advisor says forecasts came out 'differently' and pins blame on the pandemic |
| Posted by: Skidmark 2022-01-13 09:54 |
| #12 Only people with finite incomes need to understand budgeting. That's why money needs to be decoupled from gummint. Which is different from money being decoupled from politics, thought they are obviously related. |
| Posted by: M. Murcek 2022-01-13 09:41 |
| #11 All of those brilliant minds and no one knows how to balance a checkbook. |
| Posted by: Besoeker 2022-01-13 09:35 |
| #10 What nobody is looking at is the vast inflation of the money supply and the Fed's balance sheet, couples with all the other central banks' hocus-pocus could lead to a conflagration that will make the Jimmuah Cahtah era look like good times. And if it is a runaway situation, there is nothing that political venality will be able to do to stop it. |
| Posted by: M. Murcek 2022-01-13 09:28 |
| #9 Producer prices soared by 9.7% in December, biggest gain on record |
| Posted by: Skidmark 2022-01-13 09:24 |
| #8 Ref #6: I told my Speed Queen washer and dryer story a week or so ago. Yes, I question the 7% as well. Worthless bastids. |
| Posted by: Besoeker 2022-01-13 07:46 |
| #7 When I got my roof done last year the contract specified plywood would be priced upon delivery. The contractor's guesstimate was fair, but it was still very expensive plywood compared to just 6 months earlier. It's stupidly more expensive now. |
| Posted by: M. Murcek 2022-01-13 07:18 |
| #6 I had a pole barn built about a year and a half ago for about 10$/sf (3000 sf). Freind got a price last week for about 17$/sf (1500sf less options) same people. so I question 7%. more like 70% in this case. |
| Posted by: BrerRabbit 2022-01-13 07:08 |
| #5 I like to cook, grill, load up my smoker. Haven't had fast food in a year. Burned out on packaged snacks. Eating out is a rare treat and venues are chosen accordingly. It's all good. |
| Posted by: M. Murcek 2022-01-13 04:30 |
| #4 Learn how to cook -- cheaper and (probably) healthier |
| Posted by: magpie 2022-01-13 04:27 |
| #3 Carterflation was tragedy and we got Reagan and Volcker. Bidetflation is farce and we will get some lunatic MMT acolyte at the Fed no matter who is elected prexident. |
| Posted by: M. Murcek 2022-01-13 04:05 |
| #2 ^ Carter redo. They never learn. |
| Posted by: Dale 2022-01-13 04:03 |
| #1 Stagflation, comin' right up |
| Posted by: Merrick Ferret 2022-01-13 01:24 |