CNN: U.S. Inflation Rate Hits 30 Year High

I think it is safe to say the Democrats are toast.

As we saw in the Pew survey, “Stressed Sideliners” are the Center of the electorate. Joe Biden is getting killed with Independents. He is losing to the Republicans on the economy which is the top issue. It is easy to put two and two together and see why gas prices and inflation are crushing Democrats.

What about the bipartisan infrastructure bill? This group of swing voters is more likely than anyone in the country to be ambivalent about it. They are the polar opposite of progressives and even less supportive than GOP groups.

Note: It is not just Wokeism. It is a combination of Wokeism with the economy going sideways and pressuring working class voters.

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21 Comments

  1. Inflation will rapidly impoverish most White people who are now middle class. Eventually inflation destroys most financial assets (not Au and Ag) especially capital intensive assets like high tech industries dependent upon a mile wide river of money for R&D and new products. It’s too late now to put inflation back in the box, the monster is running amok now.

    It’s good that the Democrats are taking it in the neck because of inflation but it’s too bad the worthless, scumbag Republicans profit from it. They bear as much blame as the Democrats for the economic problems besetting the country and they have no solutions either. Unfortunately the Republicans will win only because they are not the Democrats.

    It will be interesting to see how Bitcoin and other cryptos do when there is a full tilt financial panic. Will they hold value or collapse like Dutch tulip bulbs in the 17th century? At least when the dust settled after the tulip bulb mania in Holland in the 17th century people could hold the tulip bulbs and plant them. Crypto, not so much.

      • Indeed. This was done in 1980 and 30 year Treasuries reached %15.21 in the Fall of 1981. This shut down the real estate market and crippled the economy but did drive inflation way down. Debt of all types was much lower then compared to today, China wasn’t an economic factor, the Cold War was still in force and there were price controls on oil (which Reagan lifted). It was a different economy then and crushing interest rates did resolve into prosperity of a sort (based upon debt, de-industrialization and financialization).

        Debt of all types is astronomical today, imports are essential to the economy and China is a major rival to the U.S. now. The country is much more fractured today than 1980, one of the many blessings of diversity/multiculturalism and globalism. Sky high interest rates necessary to contain inflation might also destroy the economy, reducing business to cash only transactions and impoverish the vast majority people immediately resulting in in worse turmoil than the Summer of St. Floyd, Patron Saint of Fentanyl users.

        Raising interest rates to levels necessary to choke off inflation is a huge risk to run for the Government. So is not raising interest rates. The Government is boxed in; damned if they do, damned if they don’t. Fuck ’em, we are long overdue for a reset anyway.

        • “Raising interest rates to levels necessary to choke off inflation is a huge risk to run for the Government. So is not raising interest rates. ”

          Yep, and our current economy is brittle.
          I think they will let things go, until the situation is dire, then over choke the economy and send it into a ditch.

          Acting too late and too much.

  2. China is being pressured to reduce output for the sake of the environment. Everything is going to cost more and the tree huggers are to blame.

    • The numbers are lies.
      Inflation is 15%+ and zog gives a COLA of 6%, what a spit in the face insult !
      (Also, the tax tables aren’t adjusted to the true inflation.)

      2020, average new car 35k$.
      2021, average new car 45k$.

    • Global warming/climate change is the greatest hoax ever perpetrated so far. Charles Ponzi and Bernie Madoff were pikers compared to the fraudsters who flew into Scotland on their private jets from thousands of miles away spewing tons of supposedly dangerous CO2 while using thousands of gallons of jet fuel. They are raging hypocrites but really they are sociopaths deliberately destroying the futures of millions of innocent people for their own greed and vanity.

  3. Inflation alone does not endanger captalist power structure. Even with very high inflation the Weimar Republic would have endured and continued on course, if not for the rise of German socialism capable of overthrowing capitalism because it had caught the attention of the masses. The Freikorps far-right paramilitaries marched to Berlin to “restore order,” and went on (looting as they went) to destroy all the German socialist republics established in Bremen, Saxony, Hamburg, the Ruhr, and Bavaria, “keeping Germany safe” until a populist fake-socialist party (Naziism) was handed the reins of government. Unlike post WW1 Germany, the U.S. population has high inflation but no viable socialist alternative. Don’t worry, inflation alone will never collapse the U.sury S.ystem.

  4. This country is in big trouble. When inflation hits a certain percentage, the interest rates will have to be raised to satisfy investors. However, rising interest rates will pop the bubbles that we have in this economy, including the real estate and government debt and dollar bubble. If you think that America changed drastically in the last couple of years (it did), just wait until the bubbles pop.

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