I'm surprised there's not an inflation thread yet
POSTED BY: 6IXSTRINGJACK
UPDATED: Thursday, June 11, 2026 17:04
VIEWED: 37356
PAGE 76 of 84
The Hill: Biden’s worst-case economic scenario is unfolding at the worst possible time
https://thehill.com/opinion/finance/4633147-bidens-worst-case-economic
-scenario-is-unfolding-at-the-worst-possible-time/
Quote:
Last Thursday, the Bureau of Economic Analysis released its advance estimate for 2024’s first-quarter real GDP growth. At 1.6 percent, it is the worst quarterly performance since the economy contracted by 0.6 percent almost two years ago in the second quarter of 2022. This was a growth level one-third below economists’ expectations of 2.4 percent. It is also a precipitous drop from 2023’s fourth quarter rate of 3.4 percent and 2023’third quarter rate of 4.9 percent.
This slower growth comes on the heels of higher inflation. The March report on overall prices showed the Consumer Price Index for all Urban Consumers rose 3.5 percent over the last year — 3.8 percent when core inflation (minus food and energy) was considered. That figure was higher than any since September 2023 and marked the third consecutive monthly increase.
Then on Friday, came more bad inflation news, this time on personal consumer expenditures excluding food and energy. This is the Federal Reserve’s preferred inflation gauge, and in March it rose 2.8 percent compared to a year ago — the same as in February and above expectations.
This jujitsu juxtaposition of higher inflation and lower growth must not be underestimated. Gone is the charade of someone who has effectively never worked in the private sector telling working Americans how good the economy is. Joe Biden, who loves to harken back to blue-collar Scranton roots, should have known better. Americans now do.
There is but one real measure of the economy for them: Am I putting more on my family’s table? Inflation’s insidious impact is its cumulative effect. Just because inflation’s rate of increase slows (which it isn’t) does not mean its past effect is wiped away (which it’s not). Now the economic growth that the administration hoped would at least outstrip inflation’s increase — and reverse some of that cumulative effect — is not.
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Political correctness is just tyranny, with a smiley face.
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CNN: They have jobs but still need help to feed their families
Quote:
The mix of local residents visiting the Enfield Food Shelf in Connecticut has changed a lot in the last few years.
Prior to the Covid-19 pandemic, many were elderly or disabled people on fixed incomes, said Kathleen Souvigney, the food pantry’s executive director for the past decade.
But now, more of the folks seeking assistance are working families who are struggling to make ends meet as their cost of living skyrockets. Paying for child care, housing, cars, heating and other basic needs doesn’t leave enough money these days for food, which has also risen sharply in price, Souvigney hears time and time again.
“Most of the new folks are working families,” she said. “Many of the jobs aren’t paying enough to take care of expenses and put away a little savings. It now seems that one unexpected expense tips people’s finances.”
Working class families are now standing in fucking food lines under Joe Biden*'s "leadership".
Quote:
Although the US economy is strong by many measures, millions of Americans still can’t afford to buy enough food for themselves and their families. The share of people turning to hunger relief programs remains higher than it was prior to the pandemic.
Goddammit CNN... I don't want to hear it one more fucking time out of you that the American Economy is strong by any fucking measure. You've been lying about this for over 2 fucking years straight now, and I've got a 750 post thread here dating back to November of 2021 chronicling all of the lies.
The day of reckoning for Democrats is almost at hand.
Enjoy the summer while you can.
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Political correctness is just tyranny, with a smiley face.
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Joe Biden*'s economy and the fear among the Democrat Media of losing the election has become so bad that it's driven the writers and editors at Vox insane.
Here's a 31 paragraph article by Vox about how lip gloss became the answer to Gen Z's problems in 2024.
https://www.vox.com/culture/24146477/lip-gloss-gen-z-beauty-fenty-dior
-summer-fridays-rhode-economy
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Political correctness is just tyranny, with a smiley face.
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Gen Z Sinks Deeper Into Debt
Inflation drives many to credit cards to cover costs, leaving them with bigger balances
https://www.wsj.com/personal-finance/gen-z-credit-card-debt-inflation-
2f2f927e?mod=hp_lead_pos9
Quote:
In 2021, credit companies loosened the qualifications for who could get credit cards and more people opened new accounts. Gen Z members opened new credit-card lines at a faster rate than other generations during the pandemic. Nearly 5% of consumers 27 or younger had opened at least one new credit-card account in March 2020, according to data from VantageScore. By March of this year, that figure had dropped to 3%.
That trend has resulted in a greater use of credit cards overall: Of those with an open loan or credit line, Gen Z members were more likely to have at least one credit card compared with millennials a decade ago, says TransUnion’s report.
The shift might also have been fueled by members of Gen Z who grew up as authorized users on their parents’ credit cards in the hope that, by the time they turn 18, they would be able to borrow money on their own more easily, Wise said.
Gen Z members also benefited from rising credit scores during the pandemic. The influx of cash from stimulus checks and fewer opportunities to spend money made it easier for consumers to pay down their debt and stay on top of their bills.
As interest rates have climbed over the past two years, those credit scores have taken a hit. The drop was most drastic for millennials with credit scores between 660 and 719, whose scores fell by 26 points. Gen Z wasn’t far behind. The average credit-score change for Gen Z with credit scores above 720 fell 24 points during that time period, according to Credit Karma.
That sucks, huh?
My score has actually gone up since the Plandemic. Only a few points, but it's still gone up. This, despite the fact I don't have any income.
They didn't artificially inflate scores of people who were already over 800 before that happened, so until they finish those corrections everybody sitting between 650 and 799 up until the last 2 years really have no idea what their scores actually represent in today's shitty economy.
Good luck kids. Biden*, Powell, Yellen and the Democrat party fucked you.
Maybe if you live long enough you can inherit your parent's houses. Yanno... if they don't put reverse mortgages on them to pay for their own groceries and out of control property tax bills first.
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Political correctness is just tyranny, with a smiley face.
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Tragedy for Sellers! It must be Biden's fault. It couldn't be the Seller's fault, could it?
U.S. Power and NatGas Prices Plummet to Below Zero
By Julianne Geiger - May 07, 2024, 1:30 PM CDT
https://oilprice.com/Latest-Energy-News/World-News/US-Power-and-NatGas
-Prices-Plummet-to-Below-Zero.html
U.S. spot power and natural gas prices plummeted into negative territory across Texas, California, and Arizona on Tuesday, signaling a surplus in production amidst subdued demand and ample hydropower reserves.
At the Waha hub, next-day gas prices plummeted to a three-week low of negative $2.72 per million British thermal units (mmBtu) on May 6. Next-day power prices at hubs in Arizona and Southern California plunged to one-week lows.
The dynamics driving negative prices suggest energy firms are grappling with excess power and gas production. As a result, producers find themselves in the precarious position of either reducing output, paying others to absorb surplus energy, or resorting to flaring.
Forecasts preceding this plunge had already hinted at potential downturns in gas prices at the Waha hub in West Texas. These predictions materialized as Kinder Morgan initiated seasonal maintenance on pipelines connecting the Permian to the Gulf Coast. Reductions in pipeline flows, coupled with ongoing maintenance activities, compounded the downward pressure on prices.
These developments come against the backdrop of typically subdued power and gas prices in the spring, fueled by mild weather and enhanced hydropower supplies.
As market participants grapple with these unprecedented developments, attention now turns to upcoming meetings of OPEC+ and the Federal Reserve. These pivotal events are expected to provide insights into global oil supply dynamics and interest rate trajectories, respectively, further shaping the trajectory of energy markets in the coming months.
Back in March, the oversupply in the U.S. natural gas market was thought to be easing, with operators expected to cut production in response to the February price slump as prices hit a three-decade low. Despite these multi-year low natural gas prices, domestic producers in the United States continued to be optimistic about the long-term prospects of gas as a fuel.
By Julianne Geiger for Oilprice.com
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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The Democrats and Joe Biden* depleted our strategic reserve down to zero to buy votes in the midterm and never replenished it.
Stupid old Joe* ought to be buying it up now to restock. That's what Trump did when prices were at record lows.
Joe* is too stupid to do this though.
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Political correctness is just tyranny, with a smiley face.
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FT-Michigan Ross poll: Biden’s election hopes fall as prices rise again
https://www.ft.com/content/ee56a06d-c734-4fec-96fe-c53db3131255?segmen
tId=b385c2ad-87ed-d8ff-aaec-0f8435cd42d9
Quote:
The recent uptick in US inflation appears to have reversed any progress President Joe Biden has made in convincing voters he can do a better job of managing the economy than Donald Trump.
The poll, conducted between May 2 and May 6, finds that — after a slight uplift in April — Biden’s approval ratings on the economy fell back to levels that will make for depressing reading among the White House’s incumbents. That comes after price data showed US inflation might prove stickier than anticipated at the start of the year.
The findings add to the sense that the Biden administration’s messaging on the economy — much of which has been focused on gains US workers have seen to their wages — is not convincing voters.
Voters dislike Bidenomics
While economists and investors are trumpeting the stellar performance of US growth over the past 18 months, voters are not.
The poll shows 71 per cent of the 1,000 respondents believe economic conditions are negative. The figure is in line with earlier months, signalling that it has little to do with the news that growth slowed to an annualised rate of 1.6 per cent, down from 3.4 per cent in the fourth quarter of last year.
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Trump will be fine.
He will also be your next President.
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Wholesale inflation unexpectedly jumps again to highest level in a year
https://www.foxbusiness.com/economy/ppi-wholesale-inflation-april-2024
US home prices have surged 47% since the start of 2020
Home prices rising at faster pace than the 1990s, 2010s
https://www.foxbusiness.com/economy/us-home-prices-have-surged-47-sinc
e-start-2020
NYT: High Interest Rates Are Hitting Poorer Americans the Hardest
The economy as a whole has proved resilient amid the highest rates in decades. But beneath the surface, many low- and moderate-income families are struggling.
https://www.nytimes.com/2024/05/14/business/economy/interest-rates-ine
quality.html
Joe Biden* is finished.
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Trump will be fine.
He will also be your next President.
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Inflation continued to slow down in April from its recent surge. On an annualized basis headline CPI inflation came in at 3.8%, down from 4.6% last month and 5.4% in February. Core CPI came down to 3.6%:
Groceries showed considerable deflation in April. The cost of food at home decreased 2.4% on an annualized basis.
On a conventional year-over-year basis, headline CPI was 3.4% and core CPI was 3.6%.
https://jabberwocking.com/inflation-settles-down-in-april/
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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