7%

[Zam-Zam]

That's a lot, as every consumer is well aware of:

US inflation soared 7% in past year, the most since 1982

WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to the U.S. economy.

Prices have risen sharply for cars, gas, food and furniture as part of a rapid recovery from the pandemic recession that was fueled by vast infusions of government aid and emergency intervention by the Fed, which slashed interest rates. As Americans have ramped up spending, supply chains have been squeezed by shortages of workers and raw materials.

Complete text: US inflation soared 7% in past year, the most since 1982 | AP News

"Transitory", I believe, was the spin....

 

[Bugsy McGurk]

Ah, such nostalgia. Back to the inflation of the Reagan years.

;-)

 

[Dawg]

Inflation has done gone and ate up those raises employees got
how high will it go

 

[Bugsy McGurk]

Inflation has done gone and eat up those raises employees got

Nah, but you can keep hoping.

 

[Zam-Zam]

Worst in 40 years.... Even Trump couldn't do that. It took a Biden.

 

[Dawg]

Worst in 40 years.... Even Trump couldn't do that. It took a Biden.

Gas up 50%
Food 13%+
Lumber has tripled

but everything is so great under Biden I read here in PJ from leftist

 

[Zam-Zam]

Cause & Effect Update- The Numbers:


The Labor Department announced on Wednesday that inflation jumped at its fastest rate in nearly 40 years in December, representing a 7 percent increase from last year (The Associated Press). Hours later, a poll showed Biden’s already plummeting approval rating at a new low of 33 percent (The Hill).


Complete text: The Hill's Morning Report - For Biden, it goes from bad to worse | TheHill


Has this gotten our attention yet, Mr. President? Or should America expect another "No federal solution" response?

 

[sensible don]

Ok, lets step back a bit, in one of the businesses I have we buy a lot of product from 3 manufacturers, of the 3 one has pretty much kept the line on pricing with maybe a 5-6% increase while the second a 12-13% increase and the 3rd - the largest had a 78-82% price increase. Two source from China and one from Malaysia - the lowest increase company. So how did one say price increase to cover new costs was 12-13% and the other 78-82% ? Makes you wonder about corporate greed doesn't it. Didn't the Fed secretary even say the same thing - after all corp. profits are at the highest levels in many years. Like the guy at Lowes said, as long as you guys keep buying the products, why lower the price. They will all test the market and find that max price and stay there, then the CEO can make that extra 3-5 million ! win win baby !

 

[PhilFish]

Ok, lets step back a bit, in one of the businesses I have we buy a lot of product from 3 manufacturers, of the 3 one has pretty much kept the line on pricing with maybe a 5-6% increase while the second a 12-13% increase and the 3rd - the largest had a 78-82% price increase. Two source from China and one from Malaysia - the lowest increase company. So how did one say price increase to cover new costs was 12-13% and the other 78-82% ? Makes you wonder about corporate greed doesn't it. Didn't the Fed secretary even say the same thing - after all corp. profits are at the highest levels in many years. Like the guy at Lowes said, as long as you guys keep buying the products, why lower the price. They will all test the market and find that max price and stay there, then the CEO can make that extra 3-5 million ! win win baby !

That's about right.

 

[sensible don]

here , take a breath and think.........now who controls the corporations - well the ceo/ stockholders/ wall st right - and they are your friends

10.5 and 4.3 percent jumps in 2nd, 3rd qtr of 2021 - just a coincidence amiright?

United States Corporate Profits Corporate profits in the United States rose 4.3 percent to a fresh record high of USD 2.54 trillion in the third quarter of 2021, slowing from a 10.5 percent jump in the previous period, a preliminary estimate showed.


c'mon man wake the fvck up !

 

[sensible don]

Worst in 40 years.... Even Trump couldn't do that. It took a Biden.

so glad the bar is set so low by the greatest loser that you say Biden beat it - so you admit how much of a failure the greatest loser was by your post - whoops...........and to think the greatest loser lost to this guy - yessir !

 

[Zam-Zam]

Ok, lets step back a bit, in one of the businesses I have we buy a lot of product from 3 manufacturers, of the 3 one has pretty much kept the line on pricing with maybe a 5-6% increase while the second a 12-13% increase and the 3rd - the largest had a 78-82% price increase. Two source from China and one from Malaysia - the lowest increase company. So how did one say price increase to cover new costs was 12-13% and the other 78-82% ? Makes you wonder about corporate greed doesn't it. Didn't the Fed secretary even say the same thing - after all corp. profits are at the highest levels in many years. Like the guy at Lowes said, as long as you guys keep buying the products, why lower the price. They will all test the market and find that max price and stay there, then the CEO can make that extra 3-5 million ! win win baby !

So, it is your position that the Biden administration should do nothing about inflation.

Is that correct?

 

[sensible don]

Ah, such nostalgia. Back to the inflation of the Reagan years.

;-)

how quickly they forget, my oh my...........and this was their gold standard guy amiright?

Annual Inflation from 1980 – 1989
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1980 13.91% 14.18% 14.18% 14.76% 14.41% 14.38% 13.13% 12.87% 12.60% 12.77% 12.65% 12.52%
1981 11.83% 11.41% 10.49% 10.00% 9.78% 9.55% 10.76% 10.80% 10.95% 10.14% 9.59% 8.92%
1982 8.39% 7.62% 6.78% 6.51% 6.68% 7.06% 6.44% 5.85% 5.04% 5.14% 4.59% 3.83%
1983 3.71% 3.49% 3.60% 3.90% 3.55% 2.58% 2.46% 2.56% 2.86% 2.85% 3.27% 3.79%
1984 4.19% 4.60% 4.80% 4.56% 4.23% 4.22% 4.20% 4.29% 4.27% 4.26% 4.05% 3.95%
1985 3.53% 3.52% 3.70% 3.69% 3.77% 3.76% 3.55% 3.35% 3.14% 3.23% 3.51% 3.80%
1986 3.89% 3.11% 2.26% 1.59% 1.49% 1.77% 1.58% 1.57% 1.75% 1.47% 1.28% 1.10%
1987 1.46% 2.10% 3.03% 3.78% 3.86% 3.65% 3.93% 4.28% 4.36% 4.53% 4.53% 4.43%
1988 4.05% 3.94% 3.93% 3.90% 3.89% 3.96% 4.13% 4.02% 4.17% 4.25% 4.25% 4.42%
1989 4.67% 4.83% 4.98% 5.12% 5.36% 5.17% 4.98% 4.71% 4.34% 4.49% 4.66% 4.65%

 

[sensible don]

So, it is your position that the Biden administration should do nothing about inflation.

Is that correct?

I don't claim to be an economist but simply a person that sees corporate greed/ ceo pay as totally out of control. No MAN is worth 1 million a year let alone 30-40-50 million - pro athletes included. Many products could be 20-30% in price if they got this under control but never will. I always find it so ironic when a ceo says we can't give a 1.00 raise this year when he cashes a 7 -8 digit check and bonus.

 

[Zam-Zam]

how quickly they forget, my oh my...........and this was their gold standard guy amiright?

Annual Inflation from 1980 – 1989
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1980 13.91% 14.18% 14.18% 14.76% 14.41% 14.38% 13.13% 12.87% 12.60% 12.77% 12.65% 12.52%
1981 11.83% 11.41% 10.49% 10.00% 9.78% 9.55% 10.76% 10.80% 10.95% 10.14% 9.59% 8.92%
1982 8.39% 7.62% 6.78% 6.51% 6.68% 7.06% 6.44% 5.85% 5.04% 5.14% 4.59% 3.83%
1983 3.71% 3.49% 3.60% 3.90% 3.55% 2.58% 2.46% 2.56% 2.86% 2.85% 3.27% 3.79%
1984 4.19% 4.60% 4.80% 4.56% 4.23% 4.22% 4.20% 4.29% 4.27% 4.26% 4.05% 3.95%
1985 3.53% 3.52% 3.70% 3.69% 3.77% 3.76% 3.55% 3.35% 3.14% 3.23% 3.51% 3.80%
1986 3.89% 3.11% 2.26% 1.59% 1.49% 1.77% 1.58% 1.57% 1.75% 1.47% 1.28% 1.10%
1987 1.46% 2.10% 3.03% 3.78% 3.86% 3.65% 3.93% 4.28% 4.36% 4.53% 4.53% 4.43%
1988 4.05% 3.94% 3.93% 3.90% 3.89% 3.96% 4.13% 4.02% 4.17% 4.25% 4.25% 4.42%
1989 4.67% 4.83% 4.98% 5.12% 5.36% 5.17% 4.98% 4.71% 4.34% 4.49% 4.66% 4.65%

So, in 1980, per your chart, inflation was about 14%, and by the end of the decade, per your chart, it was around 4%-5%.

Looks like it was got a lot better, no?

 

[sensible don]

So, it is your position that the Biden administration should do nothing about inflation.

Is that correct?

So it is your OBVIOUS position it is ALL Biden's fault?

 

[Zam-Zam]

I don't claim to be an economist but simply a person that sees corporate greed/ ceo pay as totally out of control. No MAN is worth 1 million a year let alone 30-40-50 million - pro athletes included. Many products could be 20-30% in price if they got this under control but never will. I always find it so ironic when a ceo says we can't give a 1.00 raise this year when he cashes a 7 -8 digit check and bonus.

So, you don't know if the Biden administration should do anything or not - Is that your answer?

 

[PhilFish]

so glad the bar is set so low by the greatest loser that you say Biden beat it - so you admit how much of a failure the greatest loser was by your post - whoops...........and to think the greatest loser lost to this guy - yessir !

That's funny. Can't escape the Trump crutch huh

Let me help though. Trump is no longer in office

I hope that helped

 

[sensible don]

So, in 1980, per your chart, inflation was about 14%, and by the end of the decade, per your chart, it was around 4%-5%.

Looks like it was got a lot better, no?

yes, glad you saw that and comprehended that fact. Now you have already condemned Biden and he was 1/2 the rate of the gold standard and do you think it will be better in 4 years or 8 years - loos like Reagan got 3 years of the high numbers you are complaining about - amiright?

 

[Zam-Zam]

So it is your OBVIOUS position it is ALL Biden's fault?

When you are in charge, whatever happens on your watch, good or bad, falls on you, as every veteran knows.

He can shrug his shoulders and say "Not my problem" if he wants to.