Shocker: Bidenflation hits 31-year high,
hammers households on broad swath
Hot Air,
by
Ed Morrissey
Original Article
Posted By: Dreadnought,
11/10/2021 10:47:08 AM
Remember when inflation was supposed to be “transitory”? Good times, good times. Instead it appears to be accelerating, even more than yesterday’s look at wholesale prices suggested. The consumer price index hit its highest annual inflation rate in 31 years last month, and the blow to households is both powerful and broad:
Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago.
Reply 1 - Posted by:
Avikingman 11/10/2021 10:53:10 AM (No. 973331)
Fie on this administration including the 'RAT party at large.
3 people like this.
Reply 2 - Posted by:
Chiritwo 11/10/2021 10:57:07 AM (No. 973334)
So much damage is being done to Americans by the people who stole the election. Now I can ask - are better under President Trump's administration or the biden's regime?
12 people like this.
Reply 3 - Posted by:
Ribicon 11/10/2021 10:58:23 AM (No. 973337)
September 26, 2017: "Yellen: Fed perplexed by chronically low inflation"
https://www.cbsnews.com/news/yellen-federal-reserve-perplexed-by-chronically-low-inflation/
November 24, 2020: "Yellen’s Mandate: Massive Stimulus, Assuaging Fears of Inflation"
https://foreignpolicy.com/2020/11/24/yellens-mandate-massive-stimulus-assuaging-fears-of-inflation/
January 27, 2021: "Jerome Powell and Janet Yellen aren't worried about inflation. Maybe they should be"
https://edition.cnn.com/2021/01/27/economy/inflation-federal-reserve-janet-yellen/index.html
March 8, 2021: "Yellen plays down inflation fears, pushes for relief bill"
https://abcnews.go.com/US/wireStory/yellen-plays-inflation-fears-pushes-relief-bill-76321540
March 14, 2021: Yellen says US inflation risk remains small and is ‘manageable’
https://www.bostonglobe.com/2021/03/14/nation/yellen-says-us-inflation-risk-remains-small-is-manageable/
March 14, 2021: "Prices will rise because of stimulus, but that won't last, Janet Yellen says"
https://www.cnn.com/2021/03/14/investing/janet-yellen-inflation/index.html
May 5, 2021: "Treasury Secretary Janet Yellen said Tuesday she wasn’t expecting an inflation problem as the U.S. economy rebounds, walking back comments that unsettled markets hours earlier."
https://nypost.com/2021/05/05/janet-yellen-clarifies-inflation-comments-after-roiling-wall-street/
June 7, 2021: "Yellen Admits Inflation Is About To Surge But Says It Will Be ‘Plus For Society’s Point Of View’"
https://dailycaller.com/2021/06/07/janet-yellen-treasury-department-joe-biden-inflation-interest-rates/
July 15, 2021: "Yellen Says Concerned About Housing Prices but Inflation to Calm"
https://money.usnews.com/investing/news/articles/2021-07-15/yellen-says-concerned-about-housing-prices-but-inflation-to-calm
July 16, 2021: "Yellen Predicts ‘Rapid Inflation’ After Downplaying Risk For Months"
https://dailycaller.com/2021/07/16/janet-yellen-treasury-department-federal-reserve/
July 16, 2021: "US to see ‘several more months’ of high inflation, Yellen says"
https://www.malaymail.com/news/money/2021/07/16/us-to-see-several-more-months-of-high-inflation-yellen-says/1990276
Aug. 4, 2021: "Yellen says monthly U.S. inflation rates should subside by end-2021"
https://www.reuters.com/article/usa-treasury-yellen-inflation-idUSW1N2LK033
October 24, 2021: "Treasury Secretary Janet Yellen: High inflation should fall in middle of 2022"
https://www.washingtontimes.com/news/2021/oct/24/treasury-secretary-janet-yellen-high-inflation-sho/
5 people like this.
Reply 4 - Posted by:
NorthernDog 11/10/2021 11:07:59 AM (No. 973350)
Expect a loud outcry when the winter utility bills starts arriving in mailboxes. 20-40% higher than last year is anticipated.
7 people like this.
Reply 5 - Posted by:
dbdiva 11/10/2021 11:20:31 AM (No. 973359)
As long as the fartin' fool occupies space in the WH inflation won't be transitory. It is the GOAL of his handlers, after all. Their main concern is to bankrupt and destroy the country which they are on track to do; then they can sit back and enjoy the personal wealth they amass due to selling out the country. They don't have to worry about low polls; they know how to manufacture votes as needed. Why do they need to worry about what the "little people" think? I expect a divine comeuppance will head their way eventually. Whether it comes before the midterms and 2024 is unknowable.
Until we have the truth about the 2020 election I don't have confidence in 2022 or 2024 even when we're told there'll be a red wave in '22.
6 people like this.
Reply 6 - Posted by:
SALady 11/10/2021 11:23:04 AM (No. 973363)
Very misleading headline.
Seriously, we all knew that the Demon-Rats would do everything to destroy our economy as soon as they succeeded in stealing the 2020 election for Lyin' Joe biden.
About the only thing even remotely "shocking" is how fast they succeeded in that goal. They can't do anything good for this country, but they can destroy this republic faster than the speed of light!!!
5 people like this.
Reply 7 - Posted by:
DVC 11/10/2021 11:41:55 AM (No. 973384)
Shutting down our oil production, and then spending trillions of dollars of FAKE money, money that they just printed up, not tax money.....is a CERTAIN way to get massive inflation.
This is absolutely predictable, and predicted.
Dems are largely Marxists, and Marxism has destroyed every single country that has tried it. Literal voodoo economics, just printing more and more money in a wild, stupid spending spree, and it always destroys the economy of the country where they do it.
3 people like this.
Food prices are obviously up. And I filled my truck tank yesterday. Yikes! I hadn't seen gas prices like that since the Oblamer days.
I sure hope all these people who were upset about "mean tweets" are enjoying these prices. They deserve them, but the rest of us were dragged unwillingly along for the ride. A pox upon them.
6 people like this.
Reply 9 - Posted by:
DVC 11/10/2021 12:23:23 PM (No. 973420)
Thank you, #3. Yellen is a dangerous, incompetent fool. She has zero knowledge of actual economics.....well, perhaps that is too generous. What she believes is inverted from real economics., so actually she has NEGATIVE "knowlege", all the things that she believes will do one thing economically, will actually do the opposite.
Yellen needs to be GONE, she is beyond incompetent, to actively harmful. Effectively she is an economic saboteur.
4 people like this.
Reply 10 - Posted by:
udanja99 11/10/2021 12:31:08 PM (No. 973429)
Why is this shocking? We all knew that it was coming just a few minutes after TaliBiden set foot in the OO on Inauguration Day.
3 people like this.
Reply 11 - Posted by:
rytwng 11/10/2021 12:32:01 PM (No. 973432)
Pretend president Moron caused all of this.
3 people like this.
Reply 12 - Posted by:
Newtsche 11/10/2021 12:35:40 PM (No. 973436)
GDJB
4 people like this.
Reply 13 - Posted by:
Hugh Akston 11/10/2021 12:36:46 PM (No. 973439)
@ #4 - A 20-40% increase from last year would be a 'bargain' for those of us using heating oil. My first fill up in late Oct was priced 48%/gal higher than last winter and is expected to increase...for a probable increase of at least 77%. If it goes over $4.25/gal (easily projected to) it will be a double compared to last winter. That's ~ $400/mo more just for that, money that won't go to other discretionary expenditures(read businesses) or savings. I figure my non-discretionary expenses for just gas/heating/groceries will be at least $500(at current costs)-700+/mo. Now multiply by millions of households that have to cover necessary expenses from other areas of their budget, let alone those without as much cushion in their income/expenses equation, and certain sectors of our economy have to take a big hit. And we aren't even talking about tax increases...yet. A 6.2% increase would be Nirvana in comparison. Heck, my 'Pizza Inflation Index' is up 22% in 4 months.
Praying for a mild Southern winter here in central NC. Can't imagine what it would cost where winter is winter from now until March/April.
1 person likes this.
Reply 14 - Posted by:
Hugh Akston 11/10/2021 12:41:11 PM (No. 973442)
And what #8 said...if only these increases affected those who voted for this. Give me my mean tweets back.
2 people like this.
Reply 15 - Posted by:
stablemoney 11/10/2021 12:45:30 PM (No. 973446)
The current inflation rate is only a small whiff of what is coming. The left plans on putting the American economy in lockdown.
3 people like this.
Reply 16 - Posted by:
Sanchin 11/10/2021 12:56:07 PM (No. 973459)
Republicans in Congress, for once get off your miserable arse and band together to shut this administration down and its policies. We hear nothing but crickets from the GOP (Ted Cruz talking about Big Bird) you girlie boys cannot even stand up to an 80-year-old communist hag in charge of the House. Taking no action makes you complicit in the Biden/Obama destruction of this country.
6 people like this.
Reply 17 - Posted by:
stablemoney 11/10/2021 1:15:45 PM (No. 973469)
I scoff at this being a "shocker".
3 people like this.
Reply 18 - Posted by:
Safari Man 11/10/2021 1:32:59 PM (No. 973478)
A MASSIVE tax on savings. We're going to need a depression to restore prices to reasonable levels. At least we can look forward to a deep depression!
2 people like this.
Reply 19 - Posted by:
judy 11/10/2021 2:20:36 PM (No. 973514)
Can you imagine what it would if Trump had not made the Economy great again???
2 people like this.
Reply 20 - Posted by:
caddyjak 11/10/2021 2:27:53 PM (No. 973517)
Our Civil War was a boy scout outing compared to today. The Democrat Party is a criminal, treasonous group of traitors bent on destroying the United States and they are winning big time!! The Republican Party is weak, dismayed and trembling in the shadows. Donald Trump is potentially our only savior. He must form a coalition immediately or this country is doomed.
4 people like this.
Reply 21 - Posted by:
crashnburn 11/10/2021 11:27:57 PM (No. 973836)
I like my word: "Brandenomics" better.
0 people like this.
Reply 22 - Posted by:
DVC 11/12/2021 1:05:56 PM (No. 975526)
Thanks for the links #3.
0 people like this.
Below, you will find ...
Most Recent Articles posted by "Dreadnought"
and
Most Active Articles (last 48 hours)