Janet Yellen and Alfred E. Neuman

[Legend]

Janet Yellen talks down inflation less than a week ago.  What?  Me worry?

Today’s CPI?  4.2%

The REAL inflation rate?  I’m guessing it’s >10% when all is considered.

Joe Biden says “not taxes on people making less than $400K a year.”  Well, let’s see:  Inflation tax has just devalued all your dollars.  Pretty soon everybody will be making >$400K a year and it will feel like $65K.

In other news, guns and ammo are holding their value nicely.

https://www.wsj.com/articles/us-inflation-consumer-price-index-april-2021-11620781266?mod=hp_lead_pos1

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Sic transit gloria mundi (so shut up and get back to work)

[rjnwmill]

The only contribution I can offer.

Works for his Domestic Policy Advisor as well…and his Assistant Health Secretary…and his VP/Immigration Maven…and his HHS Secretary…and his Mayor/Secretary of Transportation…and his Energy Advisor…

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[Legend]

Pic won’t show for me.

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Sic transit gloria mundi (so shut up and get back to work)

[rjnwmill]

[quote quote=4746]Pic won’t show for me.[/quote]

no surprise there. I’m incompetent. It was intended to be a picture of Alfred E.

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[Mick]

Biden is going to get our economic hats handed to us.  Economists were expecting 3.6%, and got 4.2%, highest since 2008.  But more to the point, and buried in this article is that last month’s inflation increase was 0.8%, or a 9.6% annualized rate. The monthly gain in core inflation was THE HIGHEST SINCE 1981, the bad old Jimmy Carter years (yes, I know it was Reagan, but his early days reeled from Carter’s idiocies). Make no mistake, we’re about to get crushed.  And it didn’t have to happen.

https://www.cnbc.com/2021/05/12/consumer-price-index-april-2021.html

Federal taxes and spending hit a record:

https://www.cnsnews.com/article/washington/terence-p-jeffrey/federal-taxes-spending-and-deficit-all-set-records-through-0

 

[rogpodge]

https://www.marketwatch.com/story/u-s-wholesale-prices-rise-at-fastest-pace-since-2009-ppi-shows-as-inflation-pressures-keep-building-11620909721

Producer Price Index increased by double what was predicted (.6%, expected .3%).

Part of this is explained by the drop in prices (some deflation) last year in the first months of the pandemic.  BUT we’ve got supply and demand issues at this point, and inflation is a regressive tax on the poor.  Unfortunately, we don’t teach economics or math anymore, so the average voter won’t care.

[Author]

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