When I was a young lieutenant in Berlin, I received an interesting call one night. A high school friend, now my junior director of the bank in my hometown. He didn’t suddenly call to catch up. He called and tried to persuade me to pay off my student loan in advance. You see, the inflation rate is soaring at a rate of 13%. My loan is a dignified and innocent 2 point annual interest rate. If I just speed up the payment, it would be worthwhile for them to take the time to call me some “forgiveness”. Even as a stupid infantryman, I was smart enough to understand that holding my loans for as long as possible and letting inflation affect them is a damn good act, so I rejected this kind of offer.
What does this have to do with anything?Well, boys, girls, and sexually undefined things, we are entering this Re-territory.
Prices in October rose 6.2% from the same period last year, the largest annual increase in 30 years, as inflation continued to put pressure on the economy and lasted longer than the Fed and White House policymakers expected before the end of the year.
Data released by the US Bureau of Labor Statistics on Wednesday showed that prices in October rose 0.9% from September, a higher-than-expected increase, and the increase in June was the largest month this year.
Forecasters expect a surge in inflation data in October, largely due to soaring natural gas and energy prices, as well as the continued backlog of supply chains in the used car market. Compared with the previous month, the energy index rose 4.8% in October and the gasoline index rose 6.1%.
However, inflation has expanded to other categories and is increasing throughout the economy. The US Bureau of Labor Statistics pointed out that the “widespread” increase in the prices of energy, housing, food, used cars and trucks, and new cars is a larger contributor.
The report reads: “Except for homes, used cars and trucks, and new cars, the health care, home and operations, and entertainment indexes all increased in October.”
(For early reports on this topic, please read The latest inflation data will make you hit the wall and vote against the Democrats.)
The 16 cents of Biden’s gang are cheering, it saved you July 4th The New York Times also reported that this led to a prediction that this year’s Thanksgiving will be the most expensive Thanksgiving since the Indians gave a year of saxophone to pilgrims.From This year’s Thanksgiving feast will hit the wallet:
Thanksgiving in 2021 may be the most expensive meal in holiday history.
The reason why Turkey is expensive is mainly because from July 2020 to July 2021, the price of corn, where most commercial turkeys feed on corn, more than doubled in some parts of the country. The price of a whole frozen bird of 8 to 16 pounds has exceeded 25 cents per pound. According to a weekly report from the Turkish Ministry of Agriculture released on Friday, they did it a year ago.
More disturbing than the 6.2% annualized increase in inflation was the 0.9% increase in October. This increase is more than twice the 0.4% increase recorded in September. If this trend continues, and there is no reason to assume that it will not, it heralds that next year’s annual inflation rate will exceed 10%.
There are many very stupid comments about the subject of the Democratic agent’s introduction into the national dialogue and the nonsense of the above-mentioned agents. It goes like this, “Last year we were in the throes of a pandemic. This is the result of economic recovery.” No, really not. If the economy “rebounds”, inflation will be driven by productivity and wage growth. But in fact, it’s not.
After adjusting for today’s new inflation data, from October 2020 to October 2021, the average hourly wage fell by 1.2%. The change in actual average hourly wages, combined with a 0.3% decrease in average weekly work, resulted in a 1.6% decrease in actual average weekly earnings https://t.co/6ybYIwIHBm
— Catherine Lampel (@crampell) November 10, 2021
Inflation is too much money and too little demand. The money part of the equation is easy to prove.
Easy to explain pic.twitter.com/I6W8pjB4Ug
-streiff (@streiffredstate) November 10, 2021
What we are seeing is the kind of inflation that made the Weimar Republic an economic powerhouse.
If this situation continues, and the Democratic Party tries to pay trillions of dollars to “infrastructure” and directly to people, there are all signs that it will do so; inflation will destroy the American middle class.
As wages stagnate and working hours decrease, more and more people will have to keep at least two jobs to maintain their current standard of living. Food, energy, and gasoline costs are out of control; households must spend more of their reduced income on necessities. To make matters worse, the Biden gang seems to be eager to encourage rather than extinguish it (read: Watch: Department of Energy laughs without paying attention to rising natural gas prices with As the oil crisis continues, Biden is considering closing another U.S. pipeline).
Inflation does not only have an impact on daily life. It can change people’s lifestyles. Before you have an insatiable desire for soft ice cream, do you hope that 401k account will free you from fierce competition? Well, it won’t be by your side. As loan interest rates begin to align with SpaceX quality inflation, you will find that due to a lack of potential buyers, the value of your home is much lower than the price you paid. If you have a mortgage with an adjustable interest rate, you may feel unhappy in the letter you just received from the lender. Is your credit card balance high? When long-term double-digit inflation starts, you won’t like this situation.
Unfortunately, unlike in the 1980s, we do not have a Paul Volcker at the helm of the Fed. He is willing to use the political rush to save the American middle class from destruction. We also do not have the support of Ronald Reagan to lead us out of this situation, nor do we have any signs that Congress as a whole understands what is going to happen to all of us.
To make matters worse, considering that many other things are happening, it is increasingly difficult to believe that this is just the result of some idiots — there will be more in the future.
