Sunny 🌞 wholesale inflation rose a RECORD 8.6 % over 12 months

[nail1988]

which is staggering.

gas price 7 year high and rising
54% hike on heating oil this winter
half the offshore rigs on federal lands not producing oil
Biden now begging oil producers to lower prices
recession is coming along with stagflation like under Carter

this all under under biden-Mugabe economy. He’s dismantled out economic system. Welcome to Venezuela

U.S. wholesale inflation rose a record 8.6 percent over 12 months

The jump in inflation this year reflects higher prices for food and energy and a number of other items from furniture to autos as the pandemic has snarled supply chains and demand has outstripped supply.

www.pbs.org

WASHINGTON (AP) — Inflation at the wholesale level rose 8.6 percent in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010.

The Labor Department reported Thursday that the monthly increase in its producer price index, which measures inflationary pressures before they reach consumers, was 0.5 percent for September compared to a 0.7 percent gain in August.

The 8.6 percent rise for the 12 months ending in September compared to an 8.3 percent increase for the 12 months ending in August, which had been the previous record 12-month gain.

On Wednesday, the government reported that inflation at the retail level rose 0.4 percent in September with its consumer price index up 5.4 percent over the past 12 months, matching the fastest pace since 2008.

 

[Sunburnt Indian]

Biden promised economic stagnation and higher crime rates in Democrat debates. Most members here fully understood.

 

[instaGATOR]

Anyone seen ole BS-C911 lately? 🤣

Maybe he has died of total embarrassment over the stupid-chit that he's been posting here for months.... (I can dream can't I?) 😉

 

[instaGATOR]

 

[instaGATOR]

 

[BCSpell]

which is staggering.

gas price 7 year high and rising
54% hike on heating oil this winter
half the offshore rigs on federal lands not producing oil
Biden now begging oil producers to lower prices
recession is coming along with stagflation like under Carter

this all under under biden-Mugabe economy. He’s dismantled out economic system. Welcome to Venezuela

U.S. wholesale inflation rose a record 8.6 percent over 12 months

The jump in inflation this year reflects higher prices for food and energy and a number of other items from furniture to autos as the pandemic has snarled supply chains and demand has outstripped supply.

www.pbs.org

WASHINGTON (AP) — Inflation at the wholesale level rose 8.6 percent in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010.

The Labor Department reported Thursday that the monthly increase in its producer price index, which measures inflationary pressures before they reach consumers, was 0.5 percent for September compared to a 0.7 percent gain in August.

The 8.6 percent rise for the 12 months ending in September compared to an 8.3 percent increase for the 12 months ending in August, which had been the previous record 12-month gain.

On Wednesday, the government reported that inflation at the retail level rose 0.4 percent in September with its consumer price index up 5.4 percent over the past 12 months, matching the fastest pace since 2008.

But hey, SS is getting a 5.9% raise. All is good in Merica.

Social Security Benefits to Increase 5.9% for 2022

Seniors and other Americans receiving Social Security will see a 5.9% increase in their payments next year, reflecting surging inflation during the pandemic.

www.wsj.com

Of course because of the rising inflation, they won't actually have any more spending power, but that is not important. The Biden Admin gave them 5.9% more than Trump Admin.

 

[Sunburnt Indian]

But hey, SS is getting a 5.9% raise. All is good in Merica.

Social Security Benefits to Increase 5.9% for 2022

Seniors and other Americans receiving Social Security will see a 5.9% increase in their payments next year, reflecting surging inflation during the pandemic.

www.wsj.com

Of course because of the rising inflation, they won't actually have any more spending power, but that is not important. The Biden Admin gave them 5.9% more than Trump Admin.

Another who has an understanding of economics. Another who finds getting through to our slow completely beyond his reach.

 

[nail1988]

Woke' Fed risks losing control of inflation, says former Treasury Secretary Larry Summers​

'Woke' Fed risks losing control of inflation, says former Treasury Secretary Larry Summers

Former Treasury Secretary Larry Summers on Wednesday excoriated Federal Reserve policymakers for paying too much attention to social issues rather than a pandemic-induced inflation surge that's triggered wild increases in many consumer prices.

www.foxbusiness.com

 

[instaGATOR]

Just throwing out some info....

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021. The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021.

The ECI in September 2020 increased by 2.4 percent, meaning that feds should, under the code, get a 1.9 percent pay increase for 2022.

Federal employees will get a total 2.7 percent pay raise in 2022, as Joe Biden informed Congress Aug. 27 that he intends to exercise his authority to determine federal pay rates during a state of emergency. “I have determined that it is appropriate to exercise my authority to set alternative pay adjustments for 2022.”

Looks like a Rat payola plan to try to keep the Rat's bureauRats in line....
==========

From the Heritage Foundation:

The true cost of welfare or aid to the poor is largely unknown because the spending is fragmented into myriad programs. Current welfare is focused largely on increasing benefits and enrollments and redistributing income. Self-defeating behaviors that increase the need for assistance are rarely even mentioned. Policymakers should replace welfare’s current focus with a new set of interlinked goals: reducing self-defeating and self-limiting behaviors, increasing self-support, and improving true human well-being. Welfare reform should:
(1) require all able-bodied adult recipients to work or prepare for work as a condition of receiving aid,
(2) remove the substantial penalties against marriage within the welfare system, and
(3) fund programs aimed at improving behavior on a payment-for-outcome basis rather than today’s fee-for-service basis.

Federal Welfare spending is spread across 14 government departments and agencies, nine major budget functions, and 89 separate programs. Spending levels for many programs can be discovered only by data mining the annual 1,300-page budget appendix produced by the Office of Management and Budget (OMB).2 ($1.1 trillion spent in FY 2016)

U.S. Office of Management and Budget, Budget of the United States Government, Fiscal Year 2018: Appendix (Washington: U.S. Government Printing Office, 2017), https://www.whitehouse.gov/omb/budget/Appendix (accessed February 21, 2018).
Means-tested welfare also includes billions of dollars in state government contributions to federal welfare programs, and this spending never appears in any federal budget document. Its cost ranks above the spending on national defense.

 

[fatman76]

Just throwing out some info....

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021. The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021.

The ECI in September 2020 increased by 2.4 percent, meaning that feds should, under the code, get a 1.9 percent pay increase for 2022.

Federal employees will get a total 2.7 percent pay raise in 2022, as Joe Biden informed Congress Aug. 27 that he intends to exercise his authority to determine federal pay rates during a state of emergency. “I have determined that it is appropriate to exercise my authority to set alternative pay adjustments for 2022.”

Looks like a Rat payola plan to try to keep the Rat's bureauRats in line....
==========

From the Heritage Foundation:

The true cost of welfare or aid to the poor is largely unknown because the spending is fragmented into myriad programs. Current welfare is focused largely on increasing benefits and enrollments and redistributing income. Self-defeating behaviors that increase the need for assistance are rarely even mentioned. Policymakers should replace welfare’s current focus with a new set of interlinked goals: reducing self-defeating and self-limiting behaviors, increasing self-support, and improving true human well-being. Welfare reform should:
(1) require all able-bodied adult recipients to work or prepare for work as a condition of receiving aid,
(2) remove the substantial penalties against marriage within the welfare system, and
(3) fund programs aimed at improving behavior on a payment-for-outcome basis rather than today’s fee-for-service basis.

Federal Welfare spending is spread across 14 government departments and agencies, nine major budget functions, and 89 separate programs. Spending levels for many programs can be discovered only by data mining the annual 1,300-page budget appendix produced by the Office of Management and Budget (OMB).2 ($1.1 trillion spent in FY 2016)

U.S. Office of Management and Budget, Budget of the United States Government, Fiscal Year 2018: Appendix (Washington: U.S. Government Printing Office, 2017), https://www.whitehouse.gov/omb/budget/Appendix (accessed February 21, 2018).
Means-tested welfare also includes billions of dollars in state government contributions to federal welfare programs, and this spending never appears in any federal budget document. Its cost ranks above the spending on national defense.

So China’s economy might crash due to unfounded liabilities of $50T in their housing market. Investors have poured money into real estate because it was the best bet…

Social security is a $90T unfunded liability…

 

[gatordad3]

Careless Whisper

 

[GhostOfMatchesMalone]

Remember when first page of google told us inflation was wonderful for the nation, that the only people it hurt were those on fixed incomes?

You know....like the poor, the sick, and the elderly.

 

[nail1988]

Remember when first page of google told us inflation was wonderful for the nation, that the only people it hurt were those on fixed incomes?

You know....like the poor, the sick, and the elderly.

I’m telling the low IQ and slow houses I’m building are now $100K plus more than budgeted.

thanks to the idiots

 

[Sunburnt Indian]

I’m telling the low IQ and slow houses I’m building are now $100K plus more than budgeted.

thanks to the idiots

Grandkids picked a poor time to upgrade a 1999 house. Materials are going up faster than they can order. Looks like they may finally get to start moving in Saturday.

I gassed up wife's Jeep today on US 84 for $2.89. That's the highest I've paid in the CenTex since Mugabe.

 

[nail1988]

Grandkids picked a poor time to upgrade a 1999 house. Materials are going up faster than they can order. Looks like they may finally get to start moving in Saturday.

I gassed up wife's Jeep today on US 84 for $2.89. That's the highest I've paid in the CenTex since Mugabe.

I was stunned when I looked at the pump today. $ 3.09

 

[instaGATOR]

A rural N.FL pump was at $3.34 today.... 😡

 

[NavigatorII]

A rural N.FL pump was at $3.34 today.... 😡

LETS GO BRANDON!!!

 

[NavigatorII]

LOL @ California.

 

[instaGATOR]

They voted to slit their own throats, so I don't mind if they bleed all over themselves....

 

[nail1988]

Sunny

under our Mugabe GDP was always revised down. The stiff in the White House can only to 2 percent growth in the GDP

 

[Sunburnt Indian]

Sunny

under our Mugabe GDP was always revised down. The stiff in the White House can only to 2 percent growth in the GDP

View embedded media

Hardly "red hot" economy as one of our slow tried to convince us. Brandon promised economic stagnation in Democrat debates. Qtr. 2 was hot mostly because 26 governors ended lockdowns.

 

[NavigatorII]

Hardly "red hot" economy as one of our slow tried to convince us. Brandon promised economic stagnation in Democrat debates. Qtr. 2 was hot mostly because 26 governors ended lockdowns.

Much like unlocking the port-o-lets at half time at a game, a lot of untended shit needed attending to.

 

[nail1988]

Much like unlocking the port-o-lets at half time at a game, a lot of untended shit needed attending to.

Kennedy, Reagan, Trump unlocked the power of the the US economic engine by cutting Taxes letting the small business men drive the economy. It’s simple math. The slow and low IQ do not understand. Let the economic engine of the American people thrive and they will/ can make this economy roar. The slow who can’t do a simple 5th grade equation will never understand.

 

[BSC911]

Hardly "red hot" economy as one of our slow tried to convince us. Brandon promised economic stagnation in Democrat debates. Qtr. 2 was hot mostly because 26 governors ended lockdowns.

Derp. Stick to 1+1=2. You are obviously clueless about economics. Or proper grammar.

 

[BSC911]

Kennedy, Reagan, Trump unlocked the power of the the US economic engine by cutting Taxes letting the small business men drive the economy. It’s simple math. The slow and low IQ do not understand. Let the economic engine of the American people thrive and they will/ can make this economy roar. The slow who can’t do a simple 5th grade equation will never understand.

Yeah, Trumps tax cuts resulted in GDP growth never hitting 3% while exploding the deficit. Great strategy.

I swear people on here are clueless about economics. I don’t know why I waste my time trying to teach you all.

 

[Sunburnt Indian]

Derp. Stick to 1+1=2. You are obviously clueless about economics. Or proper grammar.

You again prove NavigatorII's point. Where NavigatorII fails? Getting through to you is completely beyond his reach.

I speak three languages, including the one in which you struggle to communicate.

 

[BSC911]

You again prove NavigatorII's point. Where NavigatorII fails? Getting through to you is completely beyond his reach.

I speak three languages, including the one in which you struggle to communicate.

Yeah yeah yeah, Fauxronomo. .But you still don’t know proper grammar.

And you certainly cant speak intelligently about economics. Which is why you have to fall back on your fifth grade quiz.

Drilling was up again this week. LOL. Here’s a question for you. How many years did the economy reach 3% annual GDP growth during the Trump administration? Hint. The answer is not 1+1=2. Or purple.

 

[NavigatorII]

You again prove NavigatorII's point. Where NavigatorII fails? Getting through to you is completely beyond his reach.

I speak three languages, including the one in which you struggle to communicate.