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8.3% yoy in April. Economists surveyed expected 8.1%. A small reminder that inflation is cumulative, and compounds / becomes exponential.
Stocks have taken quite a hit. As shown by California’s giant surplus, a lot of smart money went out of the market last year when inflation and the Fed’s artificially low interest rates drove stock prices higher. Not sure where to invest at this point, as the real estate bubble seems like it’s not going to last either.
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https://mobile.twitter.com/KimDotcom/status/1525293982133407744
Huh. Interesting thread from an observer with a complicated history with the US government.
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Joe Biden is now blaming "ultra-MAGA"?? for inflation.
Here's a partial list of Biden's prior explanations for inflation:
-There's no inflation
-It's transitory
-High-class problem
-Just a delayed treadmill
-Chicken farmers
-COVID
-Big oil
-Corporate greed
-Putin price hike pic.twitter.com/yrNrhRZoEf— Tom Cotton (@TomCottonAR) May 9, 2022
*shrug* I remember when the press kept a running “ticker” of a President’s lies and excuses, and claimed that the President never took responsibility for problems.
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Trump, ultra-Maga, Trumpsters, Trump supporters…..good lord, what would the pearl clutchers do without Trump and his minions?
Biden is correct on one thing….Scott’s plan will increase taxes on 75M Americans. According to Scott’s plan, everyone will have a little skin in the game at tax time. The 75M Biden is referring to are not currently playing federal income tax. I have no problem with that.
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Biden is correct on one thing….Scott’s plan will increase taxes on 75M Americans. According to Scott’s plan, everyone will have a little skin in the game at tax time. The 75M Biden is referring to are not currently playing federal income tax. I have no problem with that.
It always amused me to see the Brits vote out their titans (Churchill, Thatcher) in favor of weaker politicians.
Scott’s plan sounds a bit like Margaret Thatcher’s poll tax in the U.K. Tories tried to get everyone to pay a fair share, went over like a lead balloon, many refused to pay, opposition stated they would repeal it. People voted with their wallets. Out went Thatcher.
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Sen. Rick Scott’s plan to “Rescue America” is one of the worst self-owns I’ve ever seen. Why is he in charge of the push to capture Senate seats? I think Joe Biden says every day that Republicans plan on raising your taxes, citing Rick Scott’s plan. It’s the brilliant thing about progressive tax systems… you can’t cut taxes without giving tax relief to the rich, and if you really want to raise revenue, you kind of have to get some out of the middle class, because of the numbers of taxpayers.
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