CPI jumps 5% in May of 2021, fastest since 2008

[oyarde]

Years of third world inflation are not free . The toll weighs heavy . Americas personal savings rate has fallen this quarter from last to the eigth lowest quarter in 75 yrs ( 1947) fallen from 3.4 percent of income to 3.3 percent of income which is dismal of course. Lowest level since the great obama - biden recession. Adjusted for inflation savings are down 88 percent from the 2020 peak and 61 percent lower than pre plague. Credit card debt up 13 percent this yr , the largest annual increase in twenty years . In case you are not aware the country is in much worse shape than 20 years ago by an amount that is staggering. Americans ability to pay bills on time has fell for the first time in five yrs. The ghost of printing past will be with you for some time.

 

[oyarde]

Global markets down 28 trillion this yr. What will next yr bring ?

 

[oyarde]

After 1 1/2 yrs of runaway third world inflation americans celebrate by buying stocks. CPI comes in at 7.7 percent with higher food and fuel removed , Dow up 1201

 

[oyarde]

U.K. economy shrunk by .2 percent in Jul and Aug with wide spread reductions in mnfg . Bank of England still expecting an 8 quarter recession , stagflation , no growth and high inflation.

 

[oyarde]

Amazon layoffs rumored ( ny times) to start with 10K employees and could start this week , meta - facebook layoffs will be 11K or 13 percent of its workforce.

 

[Madison320]

After 1 1/2 yrs of runaway third world inflation americans celebrate by buying stocks. CPI comes in at 7.7 percent with higher food and fuel removed , Dow up 1201

That shows you how desperate the markets are for the fed to pivot to easy monetary policy.

 

[oyarde]

US household debt climbs at fastest annual rate last quarter since 2008 even though interest rates charged to consumers climbed to highest in several decades

 

[oyarde]

Inflation in UK reaches 11.1 percent , last time that high was 41 years ago.

 

[Swordsmyth]

Japanese Inflation At Forty-Year High

https://www.thefinancialtrends.com/2022/11/21/japanese-inflation-at-forty-year-high/

 

[oyarde]

Sales at brick and mortar stores after Thanksgiving were below pre plague numbers and down from last yr as well. General foot traffic down by more than ten percent from 2019, retail sales down 5 percent from last year and 9 percent from 2019. I see no reason not to expect inflation will continue this negative trend through next yr as well .

 

[oyarde]

US in its glorious attempt to out third world the third world saw an increase of about 40 percent in vegetable prices last month according to the bureau of labor (dept) . Wholesale california romaine now 75 a case and was 25 a case last Jan. Thats nearly a 200 percent increase in 11 months . In case nobody has noticed , things are not improving .

 

[oyarde]

US household wealth down 13 1/2 trillion in first three quarters of 2022. To put that in perspective , only surpassed by the great obama- biden depression/crash following the 2008/2009 crash. We are now expecting a recession in 2023 but this precedes that .

 

[oyarde]

Americans cutting back on spending this Christmas . Tomorrow the new inflation number will come out . It is of no matter , doesnt matter if it is 7 1/4 or 7 1/2 it really isnt going down.

 

[CaptUSA]

Americans cutting back on spending this Christmas . Tomorrow the new inflation number will come out . It is of no matter , doesnt matter if it is 7 1/4 or 7 1/2 it really isnt going down.

Well, we're starting to catch up to last year's peaks, so the percentage increase will probably start coming down because last year's increases are already baked in. The media will say how Janet Yellen was right, but even if you take last year's 7% inflation and add it to this year's 6% inflation, that doesn't mean inflation is coming down. So, even though you're right, they'll use the numbers game to run with their narrative.

 

[Swordsmyth]

Consumer Price Index Comes In Cooler Than Expected

https://www.thefinancialtrends.com/2022/12/14/consumer-price-index-comes-in-cooler-than-expected/

 

[CaptUSA]

Consumer Price Index Comes In Cooler Than Expected

https://www.thefinancialtrends.com/2022/12/14/consumer-price-index-comes-in-cooler-than-expected/

The November Consumer Price Index (CPI), showed prices increased by 7.1% over the same time last year, and only a 0.1% increase over the prior month, according to the Bureau of Labor Statistics release on Tuesday.

November 2021 was 6.8% over 2020. November 2022 was 7.1% over that.

But because it came in lower than the 7.3% predictions, they'll report this as good news. The corporate press have zero shame.

 

[Occam's Banana]

November 2021 was 6.8% over 2020. November 2022 was 7.1% over that.

But because it came in lower than the 7.3% predictions, they'll report this as good news. The corporate press have zero shame.

They are old and expert hands at such shenanigans.

(It's exactly the same thing they do when they apply the term "spending cut" to describe increased government spending on some line item, if the increase is less than a previously intended or budgeted amount.)

To paraphrase Michael Malice: They use language to manipulate and obfuscate, not to inform or communicate.

To quote him exactly: "The corporate press is factual but not truthful."

 

[Occam's Banana]

"I don't think anyone knows whether we're going to have a recession or not, and if we do, whether it's going to be a deep one or not. It's just ... it's not knowable." -- Jerome Powell

https://twitter.com/TPostMillennial/status/1603364290941124613

 

[Occam's Banana]

 

[oyarde]

Even Christmas in America could not save the economy . Retail sales fall over a half percent in Nov from Oct according to bureau of kommerce . Spending on automobiles , clothing , sporting goods ( very bad sign), consumer electronics and furniture declined. Spending on groceries increased as expected due to the third world inflation ( 40 percent increase in vegetables alone ). Groceries and drinks in bars up nearly a percent while gas purchases fell only .1 percent but auto sales down nearly 2 1/2 percent . Americans are buying less gifts as they plan for the new depression expected to have already started.