Inflation numbers released today [2022-01-12] 7%

[turbofish]

Consumer Price Index Summary - 2024 M10 Results

www.bls.gov

Every month it just gets worse and worse. They are talking up to 4 rate hikes in 2022

 

[Otis Mayfield]

Sounds like the fed is going to raise interest rates.

 

[Rambunctious]

Our retirement will not be as comfortable as we thought just 2 years ago....my question still remains unanswered...is this what you libs voted for?....

 

[Rambunctious]

Price increases were widespread: Although energy prices fell 1.1% in December from the previous month, they're still up 29.3% from last year. Gasoline, on average, costs 49.6% than it did last year. Food prices have also climbed 6.3% higher over the year, while used car and truck prices – a major component of the inflation increase – are up 37.3%. Shelter costs, which make up nearly one-third of the total increase, jumped 0.4% for the month and 4.1% year-over-year, the fastest pace since February 2007.

 

[Rambunctious]

The inflation spike has been bad news for President Biden, who has seen his approval rating plunge as consumer prices rose. The White House has blamed the price spike on supply-chain bottlenecks and other pandemic-induced disruptions in the economy, while Republicans have pinned it on the president's massive spending agenda

 

[Rambunctious]

RealClearPolitics - Election Other - President Biden Job Approval

RealClearPolitics - Election Other - President Biden Job Approval

www.realclearpolitics.com

 

[theHawk]

So President Trump was right [again]....when he said Joe Biden would be a disaster for this country.

 

[Gabe Lackmann]

 

[Oddball]

RealClearPolitics - Election Other - President Biden Job Approval

RealClearPolitics - Election Other - President Biden Job Approval

www.realclearpolitics.com

Get to the crosstabs....He's quickly approaching the teens with the indies.

 

[Independent thinker]

Consumer Price Index Summary - 2024 M10 Results

www.bls.gov

Every month it just gets worse and worse. They are talking up to 4 rate hikes in 2022

Not to worry, when inflation finally crawls down to 2-3% the leftists will be telling us it's all under control. Meanwhile, we will not only be paying the prices we are paying right now but we'll be paying 2-3% more than that. But, inflation will be under control.

 

[Winston]

Price increases were widespread: Although energy prices fell 1.1% in December from the previous month, they're still up 29.3% from last year. Gasoline, on average, costs 49.6% than it did last year. Food prices have also climbed 6.3% higher over the year, while used car and truck prices – a major component of the inflation increase – are up 37.3%. Shelter costs, which make up nearly one-third of the total increase, jumped 0.4% for the month and 4.1% year-over-year, the fastest pace since February 2007.

Yep, the biggest year over year increase in inflation since 1982, Ronald Reagan's first term. How did that inflation turn out for him and his re-election?

 

[turbofish]

Yep, the biggest year over year increase in inflation since 1982, Ronald Reagan's first term. How did that inflation turn out for him and his re-election?

You need to look at this historically in order realize how screwed we are.
Inflation in the following years:
1977=6.5 Carter
1978=7.6 Carter
1979=11.3 Carter
1980=13.5 Carter
1981=10.3 Reagan
1982=6.2 Reagan
1983=3.2 Reagan

For the 1984 presidential campaign, he ran on pretty much "are you better off now then when the last democrat was in office?"
Boom, the biggest landslide winning 49 out of 50 states.

This is the start of Biden's term. Inflation will go up for the next couple of years thanks to out of control governmental spending. You are witnessing the end of the democratic party for a while.

 

[Rambunctious]

Yep, the biggest year over year increase in inflation since 1982, Ronald Reagan's first term. How did that inflation turn out for him and his re-election?

Joe is no Reagan...

 

[Winston]

You need to look at this historically in order realize how screwed we are.
Inflation in the following years:
1977=6.5 Carter
1978=7.6 Carter
1979=11.3 Carter
1980=13.5 Carter
1981=10.3 Reagan
1982=6.2 Reagan
1983=3.2 Reagan

For the 1984 presidential campaign, he ran on pretty much "are you better off now then when the last democrat was in office?"
Boom, the biggest landslide winning 49 out of 50 states.

This is the start of Biden's term. Inflation will go up for the next couple of years thanks to out of control governmental spending. You are witnessing the end of the democratic party for a while.

I like how all you Republicans claim inflation is due to out of control government spending. Was Reagan's inflation due to out of control government spending, or was it due to tax cuts? And R.eagan implemented the largest tax increase in American history at the time, that was part of the inflation control measures he took. What did Trump do? He cut the hell out of taxes, and then Covid hit, and while some suffered, others made out like bandits, socked the money away, and now they are willing to let it go. The very definition of inflation. And then there is the corporate tax cut, it did nothing to rein in price increases, it encourages inflation by increasing returns and decreasing opportunity cost of price increases. You want a real plan to rein in inflation, double the corporate tax rate, increase taxes on the wealthy, lower the opportunity cost of increased margins. And then take a note from Reagan, explode interest rates. That will rein inflation in, and you guys will scream bloody murder.

 

[Rambunctious]

I like how all you Republicans claim inflation is due to out of control government spending. Was Reagan's inflation due to out of control government spending, or was it due to tax cuts? And R.eagan implemented the largest tax increase in American history at the time, that was part of the inflation control measures he took. What did Trump do? He cut the hell out of taxes, and then Covid hit, and while some suffered, others made out like bandits, socked the money away, and now they are willing to let it go. The very definition of inflation. And then there is the corporate tax cut, it did nothing to rein in price increases, it encourages inflation by increasing returns and decreasing opportunity cost of price increases. You want a real plan to rein in inflation, double the corporate tax rate, increase taxes on the wealthy, lower the opportunity cost of increased margins. And then take a note from Reagan, explode interest rates. That will rein inflation in, and you guys will scream bloody murder.

Inflation can occur when the cost to produce goods and services rises but the demand for the goods is so great that people are forced to pay the higher rate...so when government throws out bundles of unbacked dollars it only makes matters worse...

All it takes is for one needed commodity to unreasonably rise in price...like energy and fuel...remind us all wise guy....what commodity did Biden...due to his own actions...force the rise in cost on his very first day in office?....

oil.....

He severely cut back and hampered oil production and the means to deliver oil to the refineries....causing speculation to inflate the cost....
and if energy costs rise so does the cost of everything else from food to housing costs...the very things the poor suffer from the most...food and a roof over their head....

And why did Joe do this?...he wants us the people of the United States to presume the cost of energy from fossil fuels to be on par with the cost for renewable energy sources....

Dude that's mean and as heartless as one can be....Biden will face his sins one day...your sin is defending such destructive hurtful action by voting for him and people like him....

 

[Winston]

Inflation can occur when the cost to produce goods and services rises but the demand for the goods is so great that people are forced to pay the higher rate...so when government throws out bundles of unbacked dollars it only makes matters worse...

All it takes is for one needed commodity to unreasonably rise in price...like energy and fuel...remind us all wise guy....what commodity did Biden...due to his own actions...force the rise in cost on his very first day in office?....

oil.....

He severely cut back and hampered oil production and the means to deliver oil to the refineries....causing speculation to inflate the cost....
and if energy costs rise so does the cost of everything else from food to housing costs...the very things the poor suffer from the most...food and a roof over their head....

And why did Joe do this?...he wants us the people of the United States to presume the cost of energy from fossil fuels to be on par with the cost for renewable energy sources....

Dude that's mean and as heartless as one can be....Biden will face his sins one day...your sin is defending such destructive hurtful action by voting for him and people like him....

You are an uniformed idiot. So, the first day Biden took office was what January 20, 2021. In February production was right at 274 million barrels. That was actually more than Trump's first February. And in almost every month following February domestic production was higher. HIGHER, than the previous year's production under Trump

U.S. Field Production of Crude Oil (Thousand Barrels)

And if you are referring to Keystone, it was essentially dead before Biden ever took office, less than ten percent completed and a long way to go through the permitting process. But here is the real deal, had Keystone been completed it would have reduced the refining of oil to gasoline, increased the cost of that refining, increased the cost of gasoline, and reduced domestic production of oil. In fact, that might be no small reason that during Biden's first year domestic oil production, month over month, was higher than Trump's last year.

Think Keystone XL Pipeline Will Lower Gas Prices? Think Again | Clean Fleet Report

cleanfleetreport.com

Honestly, you guys do little more than embarrass yourself.

 

[Captain Caveman]

Inflation in America is happening due to large corporations having little competition. They make huge profits and claim bogus excuses why prices need to increase

We need to talk about the real reason behind US inflation | Robert Reich

Corporate giants are raising prices even as they rake in record profits. How can this be? Because of their unchecked power

www.theguardian.com

 

[Rambunctious]

You are an uniformed idiot. So, the first day Biden took office was what January 20, 2021. In February production was right at 274 million barrels. That was actually more than Trump's first February. And in almost every month following February domestic production was higher. HIGHER, than the previous year's production under Trump

U.S. Field Production of Crude Oil (Thousand Barrels)

And if you are referring to Keystone, it was essentially dead before Biden ever took office, less than ten percent completed and a long way to go through the permitting process. But here is the real deal, had Keystone been completed it would have reduced the refining of oil to gasoline, increased the cost of that refining, increased the cost of gasoline, and reduced domestic production of oil. In fact, that might be no small reason that during Biden's first year domestic oil production, month over month, was higher than Trump's last year.

Think Keystone XL Pipeline Will Lower Gas Prices? Think Again | Clean Fleet Report

cleanfleetreport.com

Honestly, you guys do little more than embarrass yourself.

You are the idiot...energy is speculative dummy...if you stop the construction of a pipeline and take drilling away from public lands the price will escalate...and when fuel goes up everything goes up you idiot....how many times do we have to go through this?...Obama did it too and that's why we were stuck in an 8 year recession....wake up before you ruin your own life and the lives of loved ones with your stupid votes.....