New York Times: U.S. Inflation Is Still Climbing Rapidly

Insofar as the rate of inflation dipped a bit in April, it was due to a respite in gas prices which were driven by lockdowns in China. Gas prices have surged back up and hit a new record high as summer approaches. There is really no sign that this train is slowing down.

New York Times:

“The pressures that have kept inflation elevated for months remain strong, fresh data released Wednesday showed, a challenge for households that are trying to shoulder rising expenses and for the White House and Federal Reserve as they try to put the economy on a steadier path.

Annual inflation moderated for the first time in months in April, but the Consumer Price Index still increased 8.3 percent, an uncomfortably rapid pace. At the same time, a closely watched measure that subtracts food and fuel costs actually accelerated.

Core inflation — which excludes costs for groceries and gas — picked up 0.6 percent in April from the prior month, faster than its 0.3 percent increase in March. That measure is particularly important for policymakers, who use it as a gauge to help determine where inflation is headed. …”

It is too much to ask Washington to focus on things like rising gas prices, grocery prices and rent prices. Ukraine is far more important than Americans becoming poorer as a result of our foreign policy.

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9 Comments

    • “At least double that number”:

      At least 30%, and at that rate, workers’ life savings nest eggs will be almost worthless soon.

  1. “It is too much to ask Washington to focus on things like rising gas prices, grocery prices”

    No goy, watch the distraction, while we inflate you into poverty.
    This is how we inflate our way out of a federal debt crisis, by taking away the value of your money.

  2. Capitalism is a wild roller coaster ride with recurring crashes between the peaks, and one thing is certain: the overall trend for you (an ordinary person) is always down. You will be taken. With Usurers you always lose.

    • I disagree, capitalism is very beneficial, in the right hands.
      Capitalism is like fire, very beneficial if contained and controlled, deadly if uncontrolled.

      • I agree, insofar as it was a vast improvement on feudalism, that it replaced, and it created a large middle class, yet it still exploits the vast majority of workers – and contemporary finance-based capitalism is even more exploitative than the original, production-based kind.

  3. “This is how we inflate our way out of a federal debt crisis, by taking away the value of your money”:

    I like this very relevant Russian folk song “Little Apple” with relevant lyrics: “Hey moneybags, come closer, I’ll poke your eyes out. Hey moneybags, the people’s government will confiscate. La la lai la la (…) The apple has stopped rolling, but capitalism won’t be coming back. Expropriate the landlords, claim it all as the people’s property” et cetera – performed by Otava Yo:

  4. The US govt always seems to go out of the way to make sure foreign countries are better off than the citizens of the country they are supposed to represent. The Republican party showed they are no better than the democrats as the majority of them voted to send 40 billion over to Ukraine.

    • Elensky wants Ukraine to be Israel 2.0

      The creation of the modern state of Israel was one of history’s greatest blunders. Creating Israel 2.0 would be compounding the original mistake.

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