| Submit your comments on this article |
| Economy |
| BLS and consumer price index: Inflation is real, and it's spectacular |
| 2021-05-12 |
| [Hot Air] "These are staggering numbers," CNBC’s Rick Santelli, and while the direction was expected, the amplitude was very much a surprise. The Bureau of Labor Statistics reported an 0.8% jump in the Consumer Price Index for April, an annualized increase of 4.2%, far above expectations. As Santelli explains, we’re comparing year-on-year from the first full month of COVID-19 shutdowns, so some upward pressure is normal under the circumstances. However, this looks more like actual inflation: |
| Posted by:Besoeker |
| #13 somewhat surprising to me is that the 10 year T bond is only paying about 1.7% and the 30 year only about 2.4% a least some people believe the past two months are a blip |
| Posted by: Lord Garth 2021-05-12 19:43 |
| #12 Those trillions of newly printed dollars have to find a landing place. |
| Posted by: Glenmore 2021-05-12 18:04 |
| #11 People who didn't understand that when they voted for him are ignorant, er, either that or they're not real people. Then there were the others who knew he’s a liar and voted for him anyway because that was the price to get rid of OrangeManBad. |
| Posted by: trailing wife 2021-05-12 17:36 |
| #10 Appliance MSRP 5-10% depending on what you are looking at. |
| Posted by: swksvolFF 2021-05-12 16:52 |
| #9 And they don’t include 4x8 sheets of OSB in the index - that’s gone from $12 to over $50 in a year. |
| Posted by: Glenmore 2021-05-12 16:12 |
| #8 Gish gash garsh golly gee Hot Air. Next they will discover that the tax brackets won't change. |
| Posted by: swksvolFF 2021-05-12 13:57 |
| #7 Just remember how hard it was to get inflation under control the last time. I don't think anyone wants to rerun 1979-82, but that is where we're headed. |
| Posted by: Tom 2021-05-12 13:44 |
| #6 The product you purchased from XYZ Tech is $25. more this year than last, and XYZ Tech contributes millions more to the DNC this year than last. Isn't there a name for that sort of transaction, or am I reaching a bit too far ? |
| Posted by: Besoeker 2021-05-12 13:43 |
| #5 ^ No, P2K. It isn't. Inflation is how Biden will collect taxes from Americans who make less than $400,000. He lied when he said he wouldn't tax those people. He straight up lied. But then, he does that all the time. People who didn't understand that when they voted for him are ignorant, er, either that or they're not real people. |
| Posted by: Abu Uluque 2021-05-12 13:38 |
| #4 If the government taxed your income at 10% is that really any different than inflating (through endless printing of money without backing) the economy and reducing the value of your income by 10%? |
| Posted by: Procopius2k 2021-05-12 12:12 |
| #3 The Labor Department reported its consumer-price index jumped 4.2% in April from a year earlier, up from 2.6% for the year ended in March. That is the highest 12-month level since the summer of 2008. Consumer prices increased a seasonally adjusted 0.8% in April from March. 4.2% inflation for the year (vs ~2%) and now running at 10.0% yearly inflation rate in April. Compare with your 0.01% rate on your savings account. Government is stealing your liquid wealth through at 10% running rate of inflation. |
| Posted by: Omaiter Sinatra6457 2021-05-12 11:12 |
| #2 See: dot-com bust - "This time it will be different..." |
| Posted by: M. Murcek 2021-05-12 10:22 |
| #1 Unexpectedly |
| Posted by: Deacon Blues 2021-05-12 10:08 |