INFLATION--FED announces 0.50% interest rate cut

Chop said:
In the three weeks since Russia's invasion of Ukraine, the price of unsubsidized bread in Egypt jumped by as much as 25% in some bakeries. Cairo on Monday fixed the price of unsubsidized bread to limit the inflationary impact.

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That's the SOB that got us in to this mess.
 
Monahorns said:
For whatever reason meat prices always rise more than grains and processed foods. Fun fact: the diet pyramid was partially created to motivate people to eat more grains and processed foods.
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Who knows? Maybe the likes of Pillsbury, Kellogg’s, and Nabisco created the diet pyramid—and had the best lobbyists.
 
Inflation rises by the most since 1981 as CPI jumps 8.5% in March

I have heard Liberals say this would have happened had Trump won the 2020 election. In other words, Biden is an innocent bystander.

My answer to that is this: BS

Our world is completely political. Whatever good happens is accrued to your party and whatever bad happens is accrued to the other party. Liberals like to trot out some stats saying the aggregate increase in the stock market over the years when Democrats are President is higher than when Republicans are President. There is no consideration for the lag inherent in Congressional action over the years. It is similar to a cash basis accounting method: whatever happens that day is the entire story. Good is good without a past. Bad is bad without a past.

But now, they are scrambling on the Hunter story, inflation, the border crisis reigniting and Putin. It's not Biden's fault. He is not to be held accountable for the reasons I mentioned.

There is one other reason:

HE CARES ABOUT US.

It doesn't matter what he accomplishes; his words are the reality, not the failures of his actual policies or the delusion in his dreams. The world as it ought to be, amnesty for all, health care for all, minimum wages for all, unions for all, defund the police for all, decriminalization for all, loan forgiveness for all, bankruptcy discharging all debt for all etc... that is the world as it ought to be and if you disagree then you are an evil monster.

That is Liberalism and the blame will be argued by people who are emotionally hysterical. They are the type of people who justify all manner of personal mistakes and overall failure in life by being a victim and/or being an elite progressive thinker (i.e. an activist; no matter their race, gender or other sub-category). They have given up on reality and instead make arguments that are spun to justify their dreams and Machiavellian methods to gain and maintain power.
 
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mchammer said:
Check the date

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Well, just as Obama was spectacularly wrong in telling Mitt Romney that he was engaging in Cold War thinking, the BA was spectacularly wrong about inflation.

And if you go on Facebook or Twitter to point this stuff out, they will attack you as if you shot their dog.
 
bystander said:
Well, just as Obama was spectacularly wrong in telling Mitt Romney that he was engaging in Cold War thinking, the BA was spectacularly wrong about inflation.

And if you go on Facebook or Twitter to point this stuff out, they will attack you as if you shot their dog.
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And just imagine HOW misguided someone had to be in order for Romney the RINO to be proven accurate...
 
mb227 said:
And just imagine HOW misguided someone had to be in order for Romney the RINO to be proven accurate...
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Yes, very.

He was just making points. The soundbite made his followers squeal with delight. It's incredibly embarrassing yet their arrogance is beyond category.
 
https://www.cnbc.com/2021/12/13/el-...inflation-call-in-the-history-of-the-fed.html

Inflation Is Far From ‘Transitory’

While President Joe Biden and Federal Reserve Chairman Jerome Powell, as well as Treasury Secretary Janet Yellen, have for some time now described the nation’s disturbing inflation as “transitory,” all the evidence says the contrary.

“The characterization of inflation as transitory is probably the worst inflation call in the history of the Federal Reserve, and it results in a high probability of a policy mistake,” the former Pimco CEO and current Queens’ College president said Sunday on CBS’ “Face the Nation.”


“So, the Fed must quickly, starting this week, regain control of the inflation narrative and regain its own credibility,” he added. “Otherwise, it will become a driver of higher inflation expectations that feed onto themselves.”
 
“He will announce that the administration is planning to allow E15 gasoline, gasoline with a higher percentage of biofuels, in place of petroleum-based fuel for continued use in the summer,” an official told reporters Monday.

The Biden administration has made a flurry of decisions trying to lower gasoline prices following the invasion, including plans to sell 1 million gallons of crude oil from the U.S. Strategic Petroleum Reserve every day for 180 days and a separate 30 million-barrel sale, announced March 1.

Biden to announce summer sales of 15 percent ethanol fuel blend - Roll Call
 
Chop said:
https://www.washingtonpost.com/us-policy/2022/04/12/white-house-economics-inflation/

Joe to the rescue!!!

210210-bidens-superpower-tease_dbedel


EPA to allow more blended biofuels (15% ethanol fuel blend) in the Summer months.

Biden to announce summer sales of 15 percent ethanol fuel blend - Roll Call
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While simultaneously ignoring the damage done to the corn crop outputs by taking it from the food chain...and also from the feed chains.

This IS systematic destruction of the American way of life. It is deliberate and it is being orchestrated by whoever is pulling the strings of #MushForBrains.
 
Here's a suggestion for the next move, Joe:

Open the entirety of the federal waters in the Gulf of Mexico, including federal waters off Florida, to drilling. Have an auction for as many blocks as oil companies are interested in asap. Expedite all permits, and waive some EPA rules.
 
Chop said:
Car folks: At what % ethanol does fuel become bad for your car?
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Much depends on the vehicle...newer ones are mostly designed with E15 in mind, but the older ones can struggle with it, which is why people would go out of their way to find ethanol-free fuels...
 
Your car has to be older than 2001 or some such nowadays for Ethanol to do major damage.
 
Chop said:
Here's a suggestion for the next move, Joe:

Open the entirety of the federal waters in the Gulf of Mexico, including federal waters off Florida, to drilling. Have an auction for as many blocks as oil companies are interested in asap. Expedite all permits, and waive some EPA rules.
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They'll never do it. The zealots are not about conservation with us in mind; they are about conservation because of us and we are collateral damage. It's INCREDIBLE that zealots have been normalized and are driving policy.

That is the thing our friend Seattle seemed to ignore. I think he was wrong. Obviously I think I'm right.
 
mchammer said:
Your car has to be older than 2001 or some such nowadays for Ethanol to do major damage.
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And I have a few of those in the fleet...as do a lot of people I know.

But even minor damage is a concern to those who actually keep the vehicles long after they have been paid in full.
 
Consumer price inflation hit a new 40-year high in March - CNN

Inflation now at a 40 year new high.

Last month alone, US gas prices rose by more than 18%. Year-over-year, the price of gas soared by 48%

Now for some good news:

"The good news here is that core inflation slowed on a month-on-month basis,"wrote Brian Coulton, chief economist at ratings agency Fitch, in emailed comments. Most of that decline can be attributed to falling car prices, he added.
 
https://www.usnews.com/news/busines...-us-inflation-is-so-high-and-when-it-may-ease


Consumers have felt the squeeze in everyday routines. Gasoline is up an average of 48% in the past year. Airline tickets are up 24%, men’s suits nearly 15%, bacon 18%.
...
The Fed is making a high-risk bet that it can slow the economy enough to rein in inflation without weakening it so much as to trigger a recession. The overall economy is healthy, with a robust job market and extremely low unemployment. But many economists say they worry that the Fed's steady credit tightening will cause an economic downturn.
...
Critics blamed, in part, President Joe Biden’s $1.9 trillion coronavirus relief package, with its $1,400 checks to most households, for overheating an economy that was already sizzling on its own. Many others argued that the Fed kept rates near zero far too long, lending fuel to runaway spending and inflated prices in stocks, homes and other assets.
 
jimmy-carter-joe-biden-side.jpg

"Joe! Joe! My presidency was meant to be a cautionary tale, not a roadmap..."

"Don't tell me you didn't see this coming..."
 
Here's the part of the Democratic Primary debate that they didn't show...

Moderator: "Which historical Presidency would you most like to model your Presidency after?"

Bernie Sanders: "FDR's"
[applause]

Amy Klobuchar: "Obama's"
[loud applause]

Pete Butigieg: "Clinton's"
[applause]

Elizabeth Warren: "LBJ's"
[applause]

Andrew Yang: "Truman's"
[light applause]

Michael Bloomberg: "Clinton's"
[applause]

Joe Biden: "Jimmy Carter's"
[silence with audible gasps]


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