"The Producer Price Index Measurement of Inflation Sets Record – All-Time Highest Increase Ever Reported
Last month the Producer Price Index (PPI) broke its all-time highest increase on record reaching 9.6%.
Yesterday, the results for December for the PPI were released and they broke last month’s record.
According to the US Bureau of Labor Statistics:
The Producer Price Index for final demand increased 0.2 percent in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 1.0 percent in November and 0.6 percent in October. (See table A.)
On an unadjusted basis, final demand prices moved up 9.7 percent in 2021, the largest calendar-year increase since data were first calculated in 2010."
So back-to-back new monthly records for inflation, and Joe's not even been Prez for a year yet.
Just imagine the great work he'll accomplish in year 2!
Retail sales down a whopping 1.9% for December from last year:
"Retail sales fell much more than expected in December as surging prices took a big bite out of spending, the Commerce Department reported Friday.
The advance monthly sales report to close out the year showed a decline of 1.9%, considerably worse than the Dow Jones estimate for just a 0.1% drop."
Expected by who?
It's even more noteworthy drop because most of the country was locked down in December of 2020. Oh and also this news from today:
"Factory Production Unexpectedly Plunged in December, Worsening Supply Constraints
U.S. factory production suffered a sharp and unexpected downturn in December, a development that is likely to add to inflationary pressures in an economy beset with supply constraints.
Manufacturing production declined 0.3 percent in December, falling far short of the 0.5 percent gain forecast. November’s gain was revised down to 0.6 percent from the preliminary estimate of 0.7 percent."
Gee, I wonder why all these unexpected bad tidings keep happening?
Speaking of jumping off a cliff, er train anyway....
"Thieves Loot Thousands of Packages From Los Angeles Railway
Thieves in Los Angeles have stolen thousands of packages being transported in cargo containers on trains passing through the city, leaving behind the empty boxes and anything not valuable enough to steal.
CBS Los Angeles found a section of Union Pacific train tracks in downtown Los Angeles littered with thousands of empty boxes and leftover items that thieves deemed not valuable enough to resell, such as home COVID-19 tests and epi-pens." ---------------------------
They've also been stealing from the cargo containers pilling up in LA as the backlog in the ports continue unabated.
"Consumer Prices Explode 7.5% Higher, Worst Inflation in 40 Years
U.S. consumer prices jumped by the most in nearly four decades as the new year started, sapping the savings of American families, diminishing the purchasing power of worker paychecks, and putting pressure on the Federal Reserve to hike interest rates beginning in March.
The consumer price index climbed 0.6 percent from a month before, the Department of Labor said Thursday. Compared with January of last year, consumer prices are up 7.5 percent." -------------------------------
Well, I for one am excited at a "Mad Max" style future brought to us by spiralling costs, massive unsustainable debt, uncontrolled immigration of illiterate criminals, an out of control communist element working to subvert our entire society, and of course zealous government social workers who are qualified to give medical advice on putting a rabbit's foot on your face to ward off evil spirits.
"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.
Last week, the government reported that inflation at the consumer level soared over the past year at its highest rate in four decades, squeezing households, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates. The 7.5% price surge ranged across the economy, from food and furniture to apartment rents, airline fares and electricity."
That inflation rose a full1% in just 30 days is the strongest indication yet that the ship has no captain, and no rudder either.
Americans on average are paying $200-300 more a month now then they were under Trump in his last month of his (first term) Presidency.
Unsurprisingly, Joe "I'm the President - that's what they tell me anyway!" Biden's popularity continues to crater:
"President Joe Biden's job approval numbers have continuously spiraled downward, showing the president underwater in 45 states, according to the CIVIQS rolling job approval average.
Forty-five states have the president with a higher job disapproval rate than approval, according to the CIVIQS rolling job approval poll, covering the president's job approval on a rolling basis since his inauguration.
This is compared to only five states that show a higher approval rating for Biden.
Evidentially, California -- a typically solid blue state -- shows Biden's approval close to flipping, with only a two-point margin. Forty-five percent of the respondents from the state said they approve of Biden, while 43 percent disapprove."
One can only imagine how the country will feel by 2024 about Joe, but then again the dems will likely deep six him by then in any event.
That's of course if we haven't gone full on MAD MAX by then.
IN 13 and a half months, Joe Biden's policies of crushing domestic oil and gas production have now produced the highest average gas prices in the history of the United States.
Yes, the price of a gallon of gas is now more than double the price it was a mere 13 months ago when a certain orange fellow was in charge.
Despite that, Biden refuses to open up any of the pipelines he's shut down via executive order, or any other anti-petrol policy. And by announcing today that the US would stop importing Russian oil (something the was only being done thanks to his order in the first place), Joe guarantees that prices will leap even higher by the end of the week.
As for a solution, Biden Sec of Transportation, Pete Buttegieg, suggested that Americans simply buy a new electric car... the average price of which is $55,000.
All this as inflation spirals, food shortages continues, and shipping delays from everything like car parts to video games remain the new normal.
When the apocalypse has the same gas prices as 1 year of Biden, you know there's a problem
You mean communist Venezuela? The same country where people ate animals at zoos to stave off starvation?
Don't forget Joe's also begging the country that funded the 9/11 attacks, Saudi Arabia, for more oil too.
Yet Joe again today re--iterated that that the Keystone pipeline will not be re-opened and indeed, pipelines/etc scheduled for closing will remain so.
But don't worry, Liz "wild horse" Warren today promised to "be on" the oil companies to stop the phantom oil gauging Biden and the media claim is happening... even as the price for a barrel of crude hits new records. Apparently, the price of oil has no impact on the cost of a gallon of gas.
In other words, gas will be $8 a gallon in California, $5-6 everywhere else by the end of the week.
Yup, very serious people who want the best for the average American.
And oh yeah, the US trade deficit went up a whopping 10% in January alone:
"The trade deficit climbed 9.4 percent in January to $89.7 billion, breaking the $81.9 billion record set just a month earlier."
There is no question that these actions are a deliberate attempt to bring our country down. I cannot think of anything else that could be behind what would otherwise be boneheaded moves. It HAS to be deliberate, no one is this stupid.