Inflation back on the rise: lots of trouble ahead

[Merrill]

CPI inflation continued to rise last month, going up 0.6% for all items (3.7% from last August)

CPI Home : U.S. Bureau of Labor Statistics

www.bls.gov

Oil prices are up 24% since May, and gas prices are up over 34% since Biden took office

Commodity inflation continues, with the prices of heating oil, copper, aluminum, etc. all up in the last 6 months.

Rents have risen 7.8% sin the last 12 months, and raging inflation continues in the housing market. Health insurance premiums are expected to rise 7% next year.

With bad news everywhere, and inflation going in the wrong direction, the Federal Reserve will have to continue hiking rates aggressively to get things under control.

Don't believe any headlines that try to tell you this is only because of gas prices, and that the core CPI still looks good. That is nonsense--there is inflation all over the economy, and the Core CPI will be going back up in the next report.

Inflation-adjusted incomes are down dramatically, and down over the last 3 years

https://www.axios.com/2023/09/12/real-incomes-fell-last-year-no-wonder-americans-were-bummed-out

Many economists expect a recession to hit in the first quarter of next year, after miserable holiday sales numbers. I expect it to be deep, with dozens of failing regional banks, and a hurricane of layoffs

welcome to the 1970s ...

 

[FreeinChrist]

My husband has been saying the stock market is way over bought, and over-valued for quite a while now. The institutions that use computer logarhithms to do the buying has mde the market act odd (abnormal) for at least 5 years. I wonder if all the quantitative easing done in years past just pushed the inevitible recession down the road.

 

[hislegacy]

CPI inflation continued to rise last month, going up 0.6% for all items (3.7% from last August)

CPI Home : U.S. Bureau of Labor Statistics

www.bls.gov

Oil prices are up 24% since May, and gas prices are up over 34% since Biden took office

Commodity inflation continues, with the prices of heating oil, copper, aluminum, etc. all up in the last 6 months.

Rents have risen 7.8% sin the last 12 months, and raging inflation continues in the housing market. Health insurance premiums are expected to rise 7% next year.

With bad news everywhere, and inflation going in the wrong direction, the Federal Reserve will have to continue hiking rates aggressively to get things under control.

Don't believe any headlines that try to tell you this is only because of gas prices, and that the core CPI still looks good. That is nonsense--there is inflation all over the economy, and the Core CPI will be going back up in the next report.

Inflation-adjusted incomes are down dramatically, and down over the last 3 years

https://www.axios.com/2023/09/12/real-incomes-fell-last-year-no-wonder-americans-were-bummed-out

Many economists expect a recession to hit in the first quarter of next year, after miserable holiday sales numbers. I expect it to be deep, with dozens of failing regional banks, and a hurricane of layoffs

welcome to the 1970s ...

Yes, some of us lived through the Carter years and are now going through it again.

Mortgage demand from homebuyers falls 29% since last year, as interest rates surge past 6%​

That means new house building is slowing down - carpenters, electricians, plumbers, day labor all being effected along with lumber and supply companies. That's the middle class.

With the continued cost for everyday necessities, the middle class and poor are feeling it the most. Who can afford an 800.00 a month car payment on a 40,000 car over five years? When we pay as much for ground beef as we did steak just 3 years ago, it effects everyone.