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Started By
Message
Inflation surges in April as consumer prices leap 4.2%, fastest since 2008
Posted on 5/12/21 at 7:58 am
Posted on 5/12/21 at 7:58 am
Inflation accelerated at its fastest pace in more than 12 years for April as the U.S. economic recovery kicked into gear and energy prices jumped higher, the Labor Department reported Wednesday.
The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year ago, compared to the Dow Jones estimate for a 3.6% increase. The monthly gain was 0.8%, against the expected 0.2%.
Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.
The increase in the headline CPI rate was the fastest since September 2008.
Energy prices overall jumped 25% from a year ago, including a 49.6% increase for gasoline and 37.3% for fuel oil. That came even though most energy categories saw a decline in April.
Stolen elections have consequences
The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year ago, compared to the Dow Jones estimate for a 3.6% increase. The monthly gain was 0.8%, against the expected 0.2%.
Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.
The increase in the headline CPI rate was the fastest since September 2008.
Energy prices overall jumped 25% from a year ago, including a 49.6% increase for gasoline and 37.3% for fuel oil. That came even though most energy categories saw a decline in April.
Stolen elections have consequences
Posted on 5/12/21 at 7:59 am to NashvilleTider
Thanks to posters like c on z
Great job
Great job
Posted on 5/12/21 at 8:01 am to NashvilleTider
People were foolish to think they could just sit back and collect 1400 a month to do nothing and not see significant increases in prices
Posted on 5/12/21 at 8:02 am to NashvilleTider
C’mon. Comparing April 2020 to April 2021 and being SURPRISED by this is silliness.
Seriously. Prime SHUTDOWN nationwide. I don’t have my head in the sand but I do not have it up my arse, either.
Seriously. Prime SHUTDOWN nationwide. I don’t have my head in the sand but I do not have it up my arse, either.
Posted on 5/12/21 at 8:03 am to NashvilleTider
81 million voted for this
Posted on 5/12/21 at 8:06 am to BlackHelicopterPilot
This is a CNBC article you moron - this virus is 100% on Biden and his administration- Trump would have had us roaring again. Go read a book and stop being so stupid.
Posted on 5/12/21 at 8:06 am to BlackHelicopterPilot
No surprises but holy frick in not seeing this is the gameplan for bringing errybody to heal.
Couple that with a planned frickover of the O&G industry and the left has a snowball rolling.
Couple that with a planned frickover of the O&G industry and the left has a snowball rolling.
Posted on 5/12/21 at 8:07 am to NashvilleTider
Another thank God for no more mean tweets moment!!
Man… there was a pure intellectual on here earlier telling us how smart he was for voting Biden and how dumb we were for electing Trump.
This is another line of great news for the “intellectuals” this year! Congrats!
Poverty rate turning back up…. Inflation going up… kids being left for dead on the border… panic in the energy sector… rockets and bombs back flying in the Middle East… China doing what they please with Taiwan… Russian hackers hijacking a key energy delivery pipeline in the US.. and the resident of the White House cannot read a teleprompter without stumbling and the staff has to give permission for him to speak to the press.
Man. It’s been an “intellectually” solid first few months!
Man… there was a pure intellectual on here earlier telling us how smart he was for voting Biden and how dumb we were for electing Trump.
This is another line of great news for the “intellectuals” this year! Congrats!
Poverty rate turning back up…. Inflation going up… kids being left for dead on the border… panic in the energy sector… rockets and bombs back flying in the Middle East… China doing what they please with Taiwan… Russian hackers hijacking a key energy delivery pipeline in the US.. and the resident of the White House cannot read a teleprompter without stumbling and the staff has to give permission for him to speak to the press.
Man. It’s been an “intellectually” solid first few months!
Posted on 5/12/21 at 8:09 am to NashvilleTider
quote:
This is a CNBC article you moron
And?
quote:
this virus is 100% on Biden and his administration-
okay
quote:
Trump would have had us roaring again.
Roaring NOW is exactly why comparing April 2020 to April 2021 and seeing inflation is silliness. April 2020 was extraordinarily DEFLATIONARY and any change in economic activity was going to show a spike in YOY inflation.
quote:
Go read a book and stop being so stupid.
You seem angry. Are you okay? I wish you some peace
Posted on 5/12/21 at 8:13 am to NashvilleTider
What’s even crazier is that figure can be manipulated to be LOWER depending on what goods were included in determining its value
And I am willing to bet that is the case, which is scary.
4.2% is the BEST number they can cook up.
And I am willing to bet that is the case, which is scary.
4.2% is the BEST number they can cook up.
Posted on 5/12/21 at 8:14 am to NashvilleTider
Gas prices at their highest since 2014 and about to be even higher...
Gas shortages...
Empty store shelves...
Food prices soaring...
Building materials skyrocketing...
Housing bubble...
Insurance through the roof...
Open broad daylight murders in Times Square...
Crime surging to record levels...
Violence and chaos breaking out in the ME...
Debt out of control...
People won’t work, live off government...
Inflation returning...
Out of control border insecurity...
Record 25K unaccompanied children in border detention centers...
Sending billions to Central America...
Political ideology purity tests for military...
Continued warrantless spying on Americans...
A corrupt CDC that lies about COVID spread and lets teachers unions write their “science” guidelines...
A corrupt DOJ...
A corrupt and lawbreaking FBI...
A dirty CIA...
A Constitution violating NSA...
An ATF run by a modern day Tavington...
Racial tension at its worse since 60s because of political exploitation, false narratives, and divisive rhetoric...
Codified racism as we move to a society based on race...
Return of segregation in parts of society...
Explosion of mental illness...
Suicide at its highest since 50s...
Surge in drug opioid use...
Growth of drug and human trafficking cartels...
Continued villainization of police...
Unqualified bureaucrat department leaders...
I’m not proud of being an American anymore.
Gas shortages...
Empty store shelves...
Food prices soaring...
Building materials skyrocketing...
Housing bubble...
Insurance through the roof...
Open broad daylight murders in Times Square...
Crime surging to record levels...
Violence and chaos breaking out in the ME...
Debt out of control...
People won’t work, live off government...
Inflation returning...
Out of control border insecurity...
Record 25K unaccompanied children in border detention centers...
Sending billions to Central America...
Political ideology purity tests for military...
Continued warrantless spying on Americans...
A corrupt CDC that lies about COVID spread and lets teachers unions write their “science” guidelines...
A corrupt DOJ...
A corrupt and lawbreaking FBI...
A dirty CIA...
A Constitution violating NSA...
An ATF run by a modern day Tavington...
Racial tension at its worse since 60s because of political exploitation, false narratives, and divisive rhetoric...
Codified racism as we move to a society based on race...
Return of segregation in parts of society...
Explosion of mental illness...
Suicide at its highest since 50s...
Surge in drug opioid use...
Growth of drug and human trafficking cartels...
Continued villainization of police...
Unqualified bureaucrat department leaders...
I’m not proud of being an American anymore.
Posted on 5/12/21 at 8:18 am to NashvilleTider
The left has accelerated inflation in just 100 days, we are in hyperinflation territory.
Remember the German Weimar Republic of the 1920s and it's inflation? We are there. Those in power are enemies to this country.
Lessons of the German Inflation
Replace foreign currencies withy crypto-currency.
China has already been doing this for years.
Remember the German Weimar Republic of the 1920s and it's inflation? We are there. Those in power are enemies to this country.
Lessons of the German Inflation
quote:
By October 1918, the last full month of World War I, the quantity of paper marks had been increased fourfold over what it was in the prewar year 1913, yet prices in Germany had increased only 139 percent. Even by October 1919, when the paper money circulation had increased sevenfold over that of 1913, prices had not quite increased sixfold. But by January 1920 this relationship was reversed: money in circulation had increased 8.4 times and the wholesale price index 12.6 times. By November 1921 circulation had increased 18 times and wholesale prices 34 times. By November 1922 circulation had increased 127 times and wholesale prices 1,154 times, and by November 1923 circulation had increased 245 billion times and prices 1,380 billion times.
quote:
In what we may call Stage One, prices do not increase nearly as much as the increase in the paper money circulation. This is because the man in the street is hardly aware that the money supply is being increased. He still has confidence in the money and in the pre-existing price level.
quote:
Then the inflation moves into what we may call Stage Two, when people become aware that the money stock has increased, and is still increasing. Prices then go up approximately as much as the quantity of money is increased. This is the result assumed by the rigid quantity theory of money. But Stage Two, in fact, may last only for a short time. People begin to assume that the government is going to keep increasing the issuance of paper money indefinitely, and even at an accelerating rate. They lose all trust in it. The result is Stage Three, when prices begin to increase far faster than the government increases, or even than it can increase, the stock of money.
quote:
Its origin is hardly obscure. To pay for the tremendous expenditures called for by a total war, the German government, like others, found it both economically and politically far easier to print money than to raise adequate taxes. In the period from 1914 to October 1923, taxes covered only about 15 per cent of expenditures. In the last ten days of October 1923, ordinary taxes were covering less than 1 percent of expenses.
quote:
In the last months of the German inflation, beginning in the summer of 1923, internal prices spurted forward and reached the level of world prices, even allowing for the incredibly depreciated exchange. The exchange rate of the paper mark, calculated in gold marks, was 1,523,809 on August 28, 1923. It was 28,809,524 on September 25, 15,476,190,475 on October 30, and was "stablized" finally at 1,000,000,000,000 gold marks on November 20.
quote:
One change that brought about these astronomical figures is that merchants had finally decided to price their goods in gold. They fixed their prices in paper marks according to the exchange rate. Wages and salaries also began to be "indexed," based on the official cost-of-living figures. Methods were even devised for basing wages not only on the existing depreciation but on the probable future depreciation of the mark.
Finally, with the mark depreciating every hour, more and more Germans began to deal with each other in foreign currencies, principally in dollars.
Replace foreign currencies withy crypto-currency.
quote:
But this loss had one notable offset. In the earlier stages of the inflation, foreigners could not resist the idea that the depreciated German mark was a tremendous bargain. They bought huge quantities. One German economist calculated that they probably lost seven-eights of their money, or about 5 billion gold marks, "a sum triple that paid by Germany in foreign exchange on account of reparations."
China has already been doing this for years.
quote:
The nominal profits of the companies were frequently high, but there seemed no point in holding them for distribution because they would lose so much of their purchasing power in the period between the time they were earned and the day the stockholder got them. They were therefore ploughed back into the business. But people desperately wanted a return, and they could make short term loans at huge nominal rates of interest.
Posted on 5/12/21 at 8:19 am to NashvilleTider
I want to personally thank all the prog trash on this board for marking "Biden*" on their voting forms.
Thank you for the mess you've made.
Thank you for the mess you've made.
Posted on 5/12/21 at 8:19 am to NashvilleTider
quote:Uhhh, might govt checks in the thousands of dollars have something to do with this?
as the U.S. economic recovery kicked into gear
Posted on 5/12/21 at 8:21 am to NashvilleTider
Inflation observed thus far is explainable by covid shutdown supply constraints.
Posted on 5/12/21 at 8:27 am to NashvilleTider
Thought I saw a guy selling a kidney on FB to fund trips to a Day Job. Interesting
Posted on 5/12/21 at 8:29 am to NashvilleTider
Once again the believe that a government can spend its way into prosperity is being proven wrong. It's incredible how many educated people still think it can be done.
Add to that a government that is determined to kill cheap energy and you have an economic disaster.
Add to that a government that is determined to kill cheap energy and you have an economic disaster.
This post was edited on 5/12/21 at 8:35 am
Posted on 5/12/21 at 8:30 am to NashvilleTider
This is the price you pay for not having to see mean tweets. Freedom isn't free.
Posted on 5/12/21 at 8:38 am to Douglas Quaid
quote:
Inflation observed thus far is explainable by covid shutdown supply constraints.
That is unequivocably false. Inflation, as always, is explained by the unconstrained printing of money, and unconstrained government spending in the tune of 6 trillion dollars in 100 days. Those Biden bucks aren't being distributed in Gold, are they?
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