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Bad news for Americans..........again.

 

 

BREAKING: Bidenflation shocker as producer price index jumps 1% in January, 9.7% in past year

ED MORRISSEY Feb 15, 2022

 

Wall Street expected the news from the producer price index (PPI) report to be unpleasant. The actual numbers on wholesale inflation turned out twice as bad as they expected. “It’s much bigger than we anticipated,” Rick Santelli remarked as the monthly PPI rose 1% and year-on-year PPI inflation went up 9.7%:

 

{snip}

 

In other words, the CNBC panel explains, the argument that we have hit “peak inflation” is nonsense. “There is nothing inside these numbers,” Steve Liesman tells the panel, “that indicates that this is the peak.” It certainly doesn’t indicate that inflation will “taper off,” as Joe Biden said “14 Nobel laureates” told him in his interview with Lester Holt.

 

https://hotair.com/ed-morrissey/2022/02/15/breaking-bidenflation-shocker-as-producer-price-index-jumps-1-in-january-9-7-in-past-year-n448701

 

 

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US producer prices surge 9.7% from a year ago
 

Wholesale inflation in the United States surged again last month, rising 9.7% from a year earlier in a sign that price pressures remain high at all levels of the economy.
 

The Labor Department said Tuesday that its producer price index — which measures inflation before it reaches consumers — jumped 1% from December. Excluding volatile food and energy prices, wholesale inflation rose 0.8% from December and 8.3% from January 2021.

 

https://www.msn.com/en-us/money/markets/us-producer-prices-surge-97-25-from-a-year-ago/ar-AATSsA6

 

 

 

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11 hours ago, B-Man said:

 

 

US producer prices surge 9.7% from a year ago
 

Wholesale inflation in the United States surged again last month, rising 9.7% from a year earlier in a sign that price pressures remain high at all levels of the economy.
 

The Labor Department said Tuesday that its producer price index — which measures inflation before it reaches consumers — jumped 1% from December. Excluding volatile food and energy prices, wholesale inflation rose 0.8% from December and 8.3% from January 2021.

 

https://www.msn.com/en-us/money/markets/us-producer-prices-surge-97-25-from-a-year-ago/ar-AATSsA6

 

 

 

What a mess!
 

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3 minutes ago, All_Pro_Bills said:

Now unemployed "social media influencers" are preaching about the virtues of inflation.  Maybe pay a bill for the first time sweetie and figure out how life works before imparting your wisdom on everyone..

That describes AOC perfectly! 

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Who, at this point, can defend this administration, and the entire liberal/ progressive agenda? 

 

With this issue in the Ukraine the media is already preparing us for gas prices to jump another .50¢

 

How do you defend this administration? How can you even make any comparison to the previous administration that had the economy humming like a well.oiled machine. 

 

Biden is a horror show, what defense is there for this administration? 

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  • 2 weeks later...

 

 

 

NOTHING TO SEE HERE, MOVE ALONG:

 

 Inflation Raises Expenses for Pension Funds:

Cost-of-living increases are rising significantly for the first time in years, adding to retirement system liabilities.

 

 

Rising inflation is driving up expenses for many large U.S. pension funds that have promised retirees cost-of-living raises.

 

About half of states link pension benefits for some or all of their retired workers to changes in the consumer-price index, according to the National Association of State Retirement Administrators. With inflation reaching 7% in December, some retirement funds are now looking at increasing pension checks by 3% or more for the first time in a decade. At others, board members or state officials are approving one-time cost-of-living raises.

 

“It’s a hot topic,” said Keith Brainard, the association’s research director. “A cost-of-living adjustment can be an expensive plan provision.”

 

Pension funds are confronting a challenge shared by institutions and household savers alike: Just as expectations for public market investment returns are dimming, everyday costs are going up. This year, many retirement systems will book a loss on cost-of-living adjustments, rather than the annual windfall they have been seeing for years when those inflation-linked increases came in below expectations.

 

 

https://www.wsj.com/articles/inflation-raises-expenses-for-pension-funds-11646000689?mod=hp_lead_pos1

 

 

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  • 2 weeks later...

 

 

Larry Summers Is Second Obama Economic Adviser To Blame Biden For Inflation (Video)

by Mike LaChance

 

This week Obama economic adviser Steve Rattner said that Biden shouldn’t be blaming Russia invading Ukraine for inflation.He said Biden owns this.Now another Obama economic adviser, Larry Summers, is blaming Biden for inflation.Biden used to work with these men in the Obama White House. Bloomberg News reports: Summers Faults Biden for Tying Inflation to Putin, Company Greed. Former Treasury Secretary Lawrence Summers criticized the Biden administration’s emphasis on Russian President Vladimir Putin’s invasion of Ukraine and on price gouging by companies in ascribing causes for the surge in U.S. inflation.

 

https://www.thegatewaypundit.com/2022/03/larry-summers-second-obama-economic-adviser-blame-biden-inflation-video/

 

 

 

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