Pastorwardclinton.com
As we thought, Jun-CPI +9.1% (expected +8.8%). May-CPI +8.6%
Core was +.7% (expected +.5%).
Highest inflation in 41 years (since Reagan end of Carter-Reagan recession) and showing acceleration which will force Fed to more aggressively bring inflation down to 3-5% by raising short rates by 1% next week and again in Aug (no FOMC scheduled; may elect to hold ad hoc meeting between Jul.26 & Sep.20)
May-PPI (Thu) will likely show +11.5%, up from +10.8%.
Yield curve is now inverted by +11bp short-long (not insignificant) indicating recession ahead.
Continue the line upward to the right and near record levels.
VP Kamala Harris reportedly said: “Gas prices are high due to gas prices not being low as before. To get back to lower prices we have to acknowledge gas is high which is the opposite of low.”
Some deny she said that but is so very hard to know for sure because of some of the other things she has said which sound much like that. Thus, it is no surprise the rest of the world is laughing at us.
the “fact checkers” say this is not true but I tend to trust 7/11 sushi more than I do the truth mafia. She may not have said it but I’ve heard enough of her statements to know that it is entirely plausible. The video of her speaking July 5, 2022 at Highland Park lends credibility to the quote above.
A new Dempanic to control the masses?
Four Horsemen -or- Joe Biden Agenda
Coming soon to the entire planet and the vast majority of Americans have no clue how bad it can get.
The world has evil persons like Fauci (and AOC) they would have no problem killing off 90% of the planet’s population.
Whenever Mike Rowe speaks out about the lack of work ethics in the current generation, he gets accused of pushing “right-wing propaganda,” that tells us a lot about the left wing!
Jennifer H:
Unfortunately, he’s so right! We have gotten way too comfortable with being ‘lead’ to where government wants us to be, and not striving ourselves to where we want to go.
Laura F:
Unfortunately, that’s true! My daughter in HR sees this! It’s a shame! Lack of a work ethic and moral decay of society! Too many ‘handouts’ from government hasn’t helped! Handouts were supposed to be a ‘hand up’ not a generational ‘I take’ and ‘not give back’ policy!
The government handouts were sold to the American people as helping but the crafters of the legislation may have been less than honest even then when considering the manner in which they vilified and misrepresented the motives of the opposition.
Jeanne C:
I disagree, Sure there are a lot of lazy “entitled” young people, but the majority of the young people 18 to 30 that I know bust their butts every day to try to make ends meet in this sad time [of Bidenflation] when rent and living expenses, especially health insurance ,are so high that they cannot afford to live independently very comfortably. When I graduated college In the 70s I could afford a small apartment, feed myself ,and I had at least nominal insurance. I could afford my car and my car insurance. I was working at a health club at the time… In this day and age rent alone takes a huge portion of their paycheck. Car and car insurance outrageous. Health insurance, heck they can’t even afford it.
Cindy R:
Jeanne C, THANK YOU! The idea of being able to completely provide for yourself working at a health club is crazy to my generation. I had to live with 3 to 4 roommates at a time to get by after college. All these older folks say that we are lazy and entitled, but the same efforts that allowed you to live well in your time just don’t pay off the same way anymore. It’s sad.
JoAnn:
Cindy, That’s because in our time we didn’t have cell phones or the internet or eat fast food. So yes the money we made then went a long way. Today no matter how much we make it’s never enough.
Mary E:
JoAnn, I’m 64 and bring my lunch to work every day. All the under 30s in the office order Grub Hub or Door Dash every day. The other day one had a small pizza and Pepsi delivered for$25. The same pizza is $14 if you pick up about a mile away. Packing lunch is a couple of dollars. But that’s just too hard. So much money spent foolishly and wasted.
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