Inflation - temporary or long term?

[Mejappz]

Criminal AMC/ bankers are you listening to? Are fees better go up as well.

 

[shrubberyvaluation]

As Gomer Pyle might say, "Surprise, Surprise, Surprise" What do you expect when you kill the oil business without a clue how you can physically build sufficient electric cars to meet the need, and try to close all the coal fired pants without new nukes to replace them; where will you get the copper, lithium, nickel & cobalt?; and, you dole out cash like candy to encourage people to not work, then wonder why they don't want to go back to work. You shut down the country and let governors act like petty tyrants...and then act like you are surprised? 5.4% inflation - expecting 4.8% for the year is a reduction in your income by that same amount. For retirees, it is a reduction in their buying power by exactly the same amount. What do you think is going to happen to property taxes? And our overlords are surprised by what?

What makes me sickest is the stupidity that somehow we have to do all this to stop the unicorn of the ages "global warming" . GW predictions, so far have been 100% wrong. 100%. Not one has come to fruition. The latest was last year when GW alarmists promised we would see GW in action because the worldwide slowdown in economic activity, driving, etc would reduce the amount of CO2 in the atmosphere and we'd see a cooling effect. Well, the CO2 went up at exactly the same rate it went up the year before and there was no "cooling" of the climate. How often in the past 100 years has California had a drought? Well, gee, they identified droughts in the 16th Century, the 17th, the 18th, the 19th and 20th....why do we expect the 21st century to turn California into a lush wetlands?
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Are waterfront properties that are supposed to be underwater (some even a decade ago) tanking in prices in some areas? Would you consider the buyer's irrational for buying waterfront properties that we are told will be underwater in short time?

 

[glenn walker]

All I know is in CALI we almost hit $5 a gallon today on premium and I and I am making rice and beans because its taco -burrito- Tuesday but a limited amount of pork --BUT we purchased extra Beer to fill up on : ) LMAO

 

[Terrel L. Shields]

Are waterfront properties that are supposed to be underwater (some even a decade ago) tanking in prices in some areas? Would you consider the buyer's irrational for buying waterfront properties that we are told will be underwater in short time?

No and no. A study supposedly done by real science people said hurricanes were worse and more frequent than before...that after a 10 year hiatus after Katrina et al when we had none. The sea level "rise" at best is inch or two per century. The satellites have detected no temperature change for years... The study when you dive deep only said that it did more damage per mile of beach front. Well "duh" - how much was beach front worth in 1900? People continue to build like mad on coastal waters. And another thing is Cuomo claimed "New York never had hurricanes" - well, that's a lie too. They had a huge one in 1821 and Hurricane Donna hit Pennsylvania and the NE hard back in my lifetime. They may not be common, but they are far from rare.

 

[djd09]

Bidenflation soars to 1991 levels.

Redirect Notice

While the Fed Fiddles, the Dollar Burns: Dollar’s Purchasing Power Plunged at Fastest Pace since 1982​

by Wolf Richter • Jul 13, 2021 • 92 Comments​

Defying economists’ expectations for sixth month in a row, inflation heats up instead of easing off. And it’s a lot worse than it seems.​

By Wolf Richter for WOLF STREET.​

The Consumer Price Index jumped 0.9% in June from May, after having jumped 0.6% in May, and 0.8% in April – all of them the steepest month-to-month jumps since 2009, according to the Bureau of Labor Statistics today. The CPI without the volatile food and energy components (“core CPI”) jumped by 0.8% for the month and by 9.5% for the past three months annualized, the red-hottest “core CPI” since June 1982.

While the Fed Fiddles, the Dollar Burns: Dollar’s Purchasing Power Plunged at Fastest Pace since 1982 | Wolf Street

hey joe, send more stimulus money.

 

[Tim Hicks (Texas)]

3.5 more years of inflation.

 

[Terrel L. Shields]

Despite OPECs internal in-fighting, I see oil climbing higher and higher as we import more and more. Outside a few core areas drilling is on the ropes and states like Colorado are basically off-limits. Wyoming rapidly being peopled by Left Coast refugees and only a matter of time until they and Montana shut down drillers as well. New Mexico, mostly government land, is already dead in the water. So OK, TX and LA offshore has to deliver the oil. And that isn't enough. So OPEC+ (OPEC plus Russia) are in the drivers seat. And as the dollar plunges, the oil price will have to rise to make up the loss of value to the seller in oil dollars.

Drought adds to the woes of food- and who knows what Bill Gates intends to do with his farm land. It won't be as benign as what Hanoi Jane and Ted Turner did with those large ranches that they turned into wildlife sanctuaries.

 

[Terrel L. Shields]

making rice and beans

I'm not fat. It's just starch bloat. My butt fell asleep and I know it's so because I hear it snoring.

 

[Elliott]

7/13/21: 'The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May, the U.S. Bureau of Labor Statistics reported today. This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment; this was the largest12-month increase since a 5.4-percent increase for the period ending August 2008."

Biden's irrational energy policies have set off a 40% increase in energy which is ripplying through the supply chain, along with monetary policies (sending too many government checks) have set our economy on an inflationary path......where it ends no body knows.

 

[Fernando]

I heard the news today that inflation is at 13 year high.
Powell's Fed job is coming for renewal.
If inflation gets out of hand, Biden can blame Powell and use him as scapegoat.