patrick.net
An Antidote to Corporate Media
1,260,431 comments by 15,051 users - Al_Sharpton_for_President online now
Inflation Beyond the Stars Thread for April 12
invite response
2022 Apr 12, 12:49am 147,028 views 1,539 comments
« First « Previous Comments 515 - 554 of 1,539 Next » Last » Search these comments
515
AD
2023 Oct 22, 11:50am
AD
2023 Oct 22, 11:50am
.
22LR is good to shot off to scare anyone away that is somewhat easy to scare off
then use 9 mm and 5.56 NATO for the more hardened or psychotic intruders like Hamas terrorists ... only 20 cents a round approximately for 9 mm. I remember it was $1 a round....
note that Wall St Journal reported someone fired a 9 mm round at the thighs of a Hamas terrorist in a kibbutz raid and the terrorists fled after getting fired on ...
https://ammoseek.com/ammo/5.56x45mm-nato
https://ammoseek.com/ammo/9mm-luger?co=new
.
22LR is good to shot off to scare anyone away that is somewhat easy to scare off
then use 9 mm and 5.56 NATO for the more hardened or psychotic intruders like Hamas terrorists ... only 20 cents a round approximately for 9 mm. I remember it was $1 a round....
note that Wall St Journal reported someone fired a 9 mm round at the thighs of a Hamas terrorist in a kibbutz raid and the terrorists fled after getting fired on ...
https://ammoseek.com/ammo/5.56x45mm-nato
https://ammoseek.com/ammo/9mm-luger?co=new
.
516
AD
2023 Oct 22, 10:59pm
AD
2023 Oct 22, 10:59pm
.
"In response to the US Treasury Department figures released Friday, Kogan said that "roughly 75%" of the surge in the deficit and the debt ratio, the amount of federal debt relative to the overall size of the economy, was due to revenue decreases resulting from GOP-approved tax cuts over recent decades. "Of the remaining 25%," he said, "more than half" was higher interest payments on the debt related to Federal Reserve policy."
"We have a revenue problem, due to tax cuts," said Kogan, pointing to the major tax laws enacted under the administrations of George W. Bush and Donald Trump. "The Bush and Trump tax cuts broke our modern tax structure. Revenue is significantly lower and no longer grows much with the economy."
https://www.commondreams.org/news/trump-bush-tax-cuts-fuel-growing-deficits
.
"In response to the US Treasury Department figures released Friday, Kogan said that "roughly 75%" of the surge in the deficit and the debt ratio, the amount of federal debt relative to the overall size of the economy, was due to revenue decreases resulting from GOP-approved tax cuts over recent decades. "Of the remaining 25%," he said, "more than half" was higher interest payments on the debt related to Federal Reserve policy."
"We have a revenue problem, due to tax cuts," said Kogan, pointing to the major tax laws enacted under the administrations of George W. Bush and Donald Trump. "The Bush and Trump tax cuts broke our modern tax structure. Revenue is significantly lower and no longer grows much with the economy."
https://www.commondreams.org/news/trump-bush-tax-cuts-fuel-growing-deficits
.
517
HeadSet
2023 Oct 23, 6:35am
HeadSet
2023 Oct 23, 6:35am
ad says
They go through a lot of trouble to avoid simply charting actual REVENUES after the tax cuts. The deficit is because spending exceeded the revenue gain.
"In response to the US Treasury Department figures released Friday, Kogan said that "roughly 75%" of the surge in the deficit and the debt ratio, the amount of federal debt relative to the overall size of the economy, was due to revenue decreases resulting from GOP-approved tax cuts over recent decades. "Of the remaining 25%," he said, "more than half" was higher interest payments on the debt related to Federal Reserve policy."
They go through a lot of trouble to avoid simply charting actual REVENUES after the tax cuts. The deficit is because spending exceeded the revenue gain.
518
AD
2023 Oct 23, 9:51am
AD
2023 Oct 23, 9:51am
HeadSet says
There has been a lot of new spending besides for the Pentagon. Look at how Medicare prescription program and the 9/11 GI Bill were among the new spending programs over the last 20 years. They need to slowly reduce the rate of spending increases such as 0.5% below the inflation rate for each year of the next 5 year period to see if this helps to reduce annual deficits and debt.
"From 2010 through 2016, the Veterans Benefits Administration spent $65 billion on educational benefits for 1.6 million veterans, spouses and children, mostly for veterans' tuition, fees, and housing. In 2016, VBA spent an average of $17,400 per beneficiary."
********
ad says
"In response to the US Treasury Department figures released Friday, Kogan said that "roughly 75%" of the surge in the deficit and the debt ratio, the amount of federal debt relative to the overall size of the economy, was due to revenue decreases resulting from GOP-approved tax cuts over recent decades. "Of the remaining 25%," he said, "more than half" was higher interest payments on the debt related to Federal Reserve policy."
They go through a lot of trouble to avoid simply charting actual REVENUES after the tax cuts. The deficit is because spending exceeded the revenue gain.
There has been a lot of new spending besides for the Pentagon. Look at how Medicare prescription program and the 9/11 GI Bill were among the new spending programs over the last 20 years. They need to slowly reduce the rate of spending increases such as 0.5% below the inflation rate for each year of the next 5 year period to see if this helps to reduce annual deficits and debt.
"From 2010 through 2016, the Veterans Benefits Administration spent $65 billion on educational benefits for 1.6 million veterans, spouses and children, mostly for veterans' tuition, fees, and housing. In 2016, VBA spent an average of $17,400 per beneficiary."
********
519
AD
2023 Oct 23, 9:53am
AD
2023 Oct 23, 9:53am
And the Congressional Democrats proposed a 2024 budget that increases spending by 5.1% from 2023.
I hope they are just putting that out there with an intent of willing to negotiate an increase at no more than 3.25% (and no more than the annual inflation rate).
I hope they are just putting that out there with an intent of willing to negotiate an increase at no more than 3.25% (and no more than the annual inflation rate).
520
AD
2023 Oct 25, 10:42am
AD
2023 Oct 25, 10:42am
.
so much for asset (i.e., stocks, ETFs and mutual funds) appreciation ...
,
.
so much for asset (i.e., stocks, ETFs and mutual funds) appreciation ...
,
.
522
AD
2023 Oct 27, 4:19pm
AD
2023 Oct 27, 4:19pm
PumpingRedheads says
I look forward to reading more about this on Wolfman's website.
Overall inflation measured in terms of Personal Consumption Expenditure (PCE) is tracking down and is steady around 3.4% for last 12 months
I think this statistic will slowly track down to 3% within next 6 months and the "new accepted norm" will be annual inflation at or below 3.25%
https://www.bea.gov/news/2023/personal-income-and-outlays-september-2023
,,,,
https://wolfstreet.com/2023/10/27/powells-gonna-have-a-cow-when-he-sees-the-pce-inflation-spikes-in-core-services-housing-and-non-housing-core-services/
I look forward to reading more about this on Wolfman's website.
Overall inflation measured in terms of Personal Consumption Expenditure (PCE) is tracking down and is steady around 3.4% for last 12 months
I think this statistic will slowly track down to 3% within next 6 months and the "new accepted norm" will be annual inflation at or below 3.25%
https://www.bea.gov/news/2023/personal-income-and-outlays-september-2023
,,,,
523
AD
2023 Oct 27, 4:26pm
AD
2023 Oct 27, 4:26pm
The S&P 500 is at 4117 and its peak before the pandemic was in February 2020 at 3380.
Inflation has been about 20% since February 2020, so the S&P 500's real return is 21.8% minus 20% or 1.8% since February 2020 :-/
QE and a Fed Funds rate at 5.5% (the highest in 23 years) is appearing to have an effect on asset inflation in regards to the stock market.
Also see below as if you factor out the top 10 companies like Google, Microsoft and Apple, the S&P 500 would be faring a lot worse.
.
Inflation has been about 20% since February 2020, so the S&P 500's real return is 21.8% minus 20% or 1.8% since February 2020 :-/
QE and a Fed Funds rate at 5.5% (the highest in 23 years) is appearing to have an effect on asset inflation in regards to the stock market.
Also see below as if you factor out the top 10 companies like Google, Microsoft and Apple, the S&P 500 would be faring a lot worse.
.
524
DOGEWontAmountToShit
2023 Oct 27, 4:46pm
DOGEWontAmountToShit
2023 Oct 27, 4:46pm
ad says
That's a bogus stat.
Overall inflation measured in terms of Personal Consumption Expenditure (PCE) is tracking down and is steady around 3.4% for last 12 months
I think this statistic will slowly track down to 3% within next 6 months and the "new accepted norm" will be annual inflation at or below 3.25%
That's a bogus stat.
525
AD
2023 Oct 27, 6:03pm
AD
2023 Oct 27, 6:03pm
PumpingRedheads says
It at least provides a trend in regards to the direction of consumer inflation.
.
ad says
Overall inflation measured in terms of Personal Consumption Expenditure (PCE) is tracking down and is steady around 3.4% for last 12 months
I think this statistic will slowly track down to 3% within next 6 months and the "new accepted norm" will be annual inflation at or below 3.25%
That's a bogus stat.
It at least provides a trend in regards to the direction of consumer inflation.
.
527
AD
2023 Oct 29, 1:25am
AD
2023 Oct 29, 1:25am
We are in a conundrum as far as avoiding debt crisis ... look at it interest payments almost doubling since 2020 from ~$500 billion to ~$980 billion :-(
Going to have to make cuts such as to entitlements and maybe raise taxes as well ... the smartest they could do is just increase spending by 1/2 of the inflation rate for the next 4 years to see if this leads to any fiscal improvement such as with debt to GDP ratio...
...
..
Going to have to make cuts such as to entitlements and maybe raise taxes as well ... the smartest they could do is just increase spending by 1/2 of the inflation rate for the next 4 years to see if this leads to any fiscal improvement such as with debt to GDP ratio...
...
..
528
AD
2023 Oct 31, 9:41am
AD
2023 Oct 31, 9:41am
Not enough workers and inflation causing the first McDonald's in Panama City, Florida to shut down : https://www.mypanhandle.com/news/local-news/bay-county/panama-city/first-bay-county-mcdonalds-location-closing-its-doors/
Also the budget-minded hotels (i.e., at least 4 miles from Panama City's beach) are having problems finding workers: https://www.wjhg.com/2023/10/30/panama-city-hotels-struggling-with-worker-shortages/
These service industries (fast food and budget-minded hotels) need to figure out fast how to innovate to increase productivity. They need to streamline. This means less workers but at much higher compensation, for example. Offer performance bonuses, profit sharing, etc.
Chili's restaurant has been innovating and I read it is faring a lot better than TGI Fridays and Applebees as far as holding down costs and earning profits.
.
Also the budget-minded hotels (i.e., at least 4 miles from Panama City's beach) are having problems finding workers: https://www.wjhg.com/2023/10/30/panama-city-hotels-struggling-with-worker-shortages/
These service industries (fast food and budget-minded hotels) need to figure out fast how to innovate to increase productivity. They need to streamline. This means less workers but at much higher compensation, for example. Offer performance bonuses, profit sharing, etc.
Chili's restaurant has been innovating and I read it is faring a lot better than TGI Fridays and Applebees as far as holding down costs and earning profits.
.
529
Misc
2023 Nov 1, 4:50am
Arizona (we've had a huge amount of Californians flee to my state) has gone down California's pathway to madness because the transplants vote in the failed policies they are fleeing from. Arizona raised its minimum wage from $10.50/hr in 2018 to $13.85/hr in 2023. Funny enough that inflation has been high in the rest of the country, but since policy changes don't happen in a vacuum. it has been even higher in Arizona.
So, to combat the scourges of inflation on the vulnerable populations (those 750000 families in the lower income brackets), the Arizona State government in its glorious wisdom has decided to send them "free money". It is going to send them $750 to each family in those lower income brackets, I'm sure that if this causes prices to rise even higher...why even more "free money" will be sent.
So, to combat the scourges of inflation on the vulnerable populations (those 750000 families in the lower income brackets), the Arizona State government in its glorious wisdom has decided to send them "free money". It is going to send them $750 to each family in those lower income brackets, I'm sure that if this causes prices to rise even higher...why even more "free money" will be sent.
530
HeadSet
2023 Nov 1, 8:08am
HeadSet
2023 Nov 1, 8:08am
ad says
All business are trying to find way to increase productivity, good times or bad. Telling a business to "increase productivity" is like advising a drowning person "you need to find a way to get some air."
These service industries (fast food and budget-minded hotels) need to figure out fast how to innovate to increase productivity. They need to streamline. This means less workers but at much higher compensation, for example. Offer performance bonuses, profit sharing, etc.
All business are trying to find way to increase productivity, good times or bad. Telling a business to "increase productivity" is like advising a drowning person "you need to find a way to get some air."
531
AD
2023 Nov 1, 10:44am
AD
2023 Nov 1, 10:44am
Economy is slowing down. Less likelihood for another Fed Funds rate hike.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
ISM Manufacturing Plunges to 46.7 Percent. New Orders, Backlogs in Contraction
Economists expected the ISM® manufacturing PMI® to hold steady at 49.0. Instead, it went into significant contraction with a steep drop in employment
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
ISM Manufacturing Plunges to 46.7 Percent. New Orders, Backlogs in Contraction
Economists expected the ISM® manufacturing PMI® to hold steady at 49.0. Instead, it went into significant contraction with a steep drop in employment
533
AD
2023 Nov 1, 12:30pm
AD
2023 Nov 1, 12:30pm
.
Federal Reserve announced today it is not raising the Fed Funds rate this month. The current rate 5.5% and at a 23 year high.
https://www.usatoday.com/story/money/2023/11/01/feds-interest-rates-live-updates/71343892007/
.
Federal Reserve announced today it is not raising the Fed Funds rate this month. The current rate 5.5% and at a 23 year high.
https://www.usatoday.com/story/money/2023/11/01/feds-interest-rates-live-updates/71343892007/
.
534
HeadSet
2023 Nov 1, 3:01pm
HeadSet
2023 Nov 1, 3:01pm
ad says
Unfortunate.
Federal Reserve announced today it is not raising the Fed Funds rate this month.
Unfortunate.
535
AD
2023 Nov 1, 4:56pm
AD
2023 Nov 1, 4:56pm
HeadSet says
Not so since there are signs the economy is slowing.
Beside the ISM's recent manufacturing report which shows a slowdown (and trucking industry in a major slump), this is another indicator of a slowing economy:
https://www.bloomberg.com/news/articles/2023-10-27/how-many-jobs-should-i-apply-to-candidates-aim-for-500-in-cooling-labor-market
,
ad says
Federal Reserve announced today it is not raising the Fed Funds rate this month.
Unfortunate.
Not so since there are signs the economy is slowing.
Beside the ISM's recent manufacturing report which shows a slowdown (and trucking industry in a major slump), this is another indicator of a slowing economy:
https://www.bloomberg.com/news/articles/2023-10-27/how-many-jobs-should-i-apply-to-candidates-aim-for-500-in-cooling-labor-market
,
537
Misc
2023 Nov 2, 5:56pm
I've been working out some. I can now carry over $200 groceries from the car to the kitchen in ONE trip.
538
AD
2023 Nov 3, 10:33am
AD
2023 Nov 3, 10:33am
"The US economy added 150,000 jobs in October 2023, undershooting the 180,000 reading expected, with auto industry strikes a factor, the Bureau of Labor Statistics said. The unemployment rate ticked higher to 3.9%." (source: Yahoo Finance)
I forecast CPI for October 2023 will be between 0.15% and 0.3% for last 30 days and 3.2% for last 12 months.
Service jobs market (from car washes to restaurants to hotels) is loosening in Panama City, Florida (compared to last few years).
.
I forecast CPI for October 2023 will be between 0.15% and 0.3% for last 30 days and 3.2% for last 12 months.
Service jobs market (from car washes to restaurants to hotels) is loosening in Panama City, Florida (compared to last few years).
.
539
AD
2023 Nov 3, 11:08am
AD
2023 Nov 3, 11:08am
Keeping the Fed Funds rate at 5.5% and at a 22 year high is enough to reduce inflation because of the Fed's quantitative tightening (QT).
I wonder if the Fed will continue QT when inflation reaches below 2% annually, or will it hold steady its balance sheet of federal government bonds and mortgage backed securities.
.
I wonder if the Fed will continue QT when inflation reaches below 2% annually, or will it hold steady its balance sheet of federal government bonds and mortgage backed securities.
.
540
HeadSet
2023 Nov 3, 12:05pm
HeadSet
2023 Nov 3, 12:05pm
ad says
If the Fed "holds steady" that will mean when the low interest bonds mature the Fed must then sell the much higher rate bonds to keep up the balance sheet. Interesting to see if there is enough demand for new bonds without even higher rates.
I wonder if the Fed will continue QT when inflation reaches below 2% annually, or will it hold steady its balance sheet of federal government bonds
If the Fed "holds steady" that will mean when the low interest bonds mature the Fed must then sell the much higher rate bonds to keep up the balance sheet. Interesting to see if there is enough demand for new bonds without even higher rates.
541
AD
2023 Nov 3, 12:28pm
AD
2023 Nov 3, 12:28pm
Not a surprise as far as post pandemic economic news such as with the trucking industry: https://www.cnn.com/2023/11/03/business/maersk-layoffs-shipping-boom-bust/index.html
And this being reported yesterday on CNBC: Target CEO says shoppers are pulling back, even on groceries
That is why I see high probability that inflation will remain tamed and the Fed will not raise the Fed Funds rate anymore as it sits at 5.5% and at a 22 year high.
And this being reported yesterday on CNBC: Target CEO says shoppers are pulling back, even on groceries
That is why I see high probability that inflation will remain tamed and the Fed will not raise the Fed Funds rate anymore as it sits at 5.5% and at a 22 year high.
542
AD
2023 Nov 3, 1:05pm
AD
2023 Nov 3, 1:05pm
HeadSet says
I would expect they would just hold the bonds to expiration, even the longer term bonds. I am not sure what they hold as far as bonds with duration greater than 7 years. I meant hold steady as far as not sell any bonds (and not buy any replacement short duration bonds).
So their total assets will decrease as the short term bonds expire and not replaced with newer short term bonds.
.
If the Fed "holds steady" that will mean when the low interest bonds mature the Fed must then sell the much higher rate bonds to keep up the balance sheet. Interesting to see if there is enough demand for new bonds without even higher rates.
I would expect they would just hold the bonds to expiration, even the longer term bonds. I am not sure what they hold as far as bonds with duration greater than 7 years. I meant hold steady as far as not sell any bonds (and not buy any replacement short duration bonds).
So their total assets will decrease as the short term bonds expire and not replaced with newer short term bonds.
.
543
HeadSet
2023 Nov 3, 5:31pm
HeadSet
2023 Nov 3, 5:31pm
ad says
That would be the QT you mentioned, not holding steady.
So their total assets will decrease as the short term bonds expire and not replaced with newer short term bonds.
That would be the QT you mentioned, not holding steady.
545
AD
2023 Nov 4, 8:16am
AD
2023 Nov 4, 8:16am
HeadSet says
True, as the balance sheet would show a reduction in assets (or holdings of US Treasuries) as part of Quantitative Tightening.
I just hope the Fed does not lose a lot of money if they are selling US Treasuries before their expiration date.
https://www.axios.com/2023/10/11/us-treasury-bond-yields-china-federal-reserve
,
ad says
So their total assets will decrease as the short term bonds expire and not replaced with newer short term bonds.
That would be the QT you mentioned, not holding steady.
True, as the balance sheet would show a reduction in assets (or holdings of US Treasuries) as part of Quantitative Tightening.
I just hope the Fed does not lose a lot of money if they are selling US Treasuries before their expiration date.
https://www.axios.com/2023/10/11/us-treasury-bond-yields-china-federal-reserve
,
546
AD
2023 Nov 4, 8:21am
AD
2023 Nov 4, 8:21am
Booger says
Good point Booger, as I ask is it going to be the same Big Mac or are they going to reduce the size of the hamburger meat by 3% each year during the coin's acceptance period ?
Is the coin's acceptance period for a limited time such as 3 years after issuance ?
This is akin to a silver 25 cent coin maintaining its value as far as equivalence to a gallon of gasoline: https://patrick.net/post/1344893/2022-05-01-silver-dime-buys-gallon-of-gas
.
Good point Booger, as I ask is it going to be the same Big Mac or are they going to reduce the size of the hamburger meat by 3% each year during the coin's acceptance period ?
Is the coin's acceptance period for a limited time such as 3 years after issuance ?
This is akin to a silver 25 cent coin maintaining its value as far as equivalence to a gallon of gasoline: https://patrick.net/post/1344893/2022-05-01-silver-dime-buys-gallon-of-gas
.
547
AD
2023 Nov 4, 11:38am
AD
2023 Nov 4, 11:38am
Nonunion Toyota boosts hourly wages 9.2%, cuts progression time as UAW votes await
Toyota Motor North America told its nonunion production workers it was boosting hourly wages in its plants, distribution and logistics centers to $34.80 (a top wage level), effective Jan. 1, marking the third increase in less than a year.
Toyota Motor North America raised hourly wages for its U.S. manufacturing, distribution center and logistics employees yesterday for the third time this year, upping the top wage to $34.80 per hour, cutting the number of years to reach that wage, and boosting paid time off for all employees, a spokesman confirmed.
November 01, 2023 12:08 PM
Automotive News
https://www.autonews.com/manufacturing/toyota-boosts-hourly-pay-92-detroit-3-uaw-workers-wait-vote
Toyota Motor North America told its nonunion production workers it was boosting hourly wages in its plants, distribution and logistics centers to $34.80 (a top wage level), effective Jan. 1, marking the third increase in less than a year.
Toyota Motor North America raised hourly wages for its U.S. manufacturing, distribution center and logistics employees yesterday for the third time this year, upping the top wage to $34.80 per hour, cutting the number of years to reach that wage, and boosting paid time off for all employees, a spokesman confirmed.
November 01, 2023 12:08 PM
Automotive News
https://www.autonews.com/manufacturing/toyota-boosts-hourly-pay-92-detroit-3-uaw-workers-wait-vote
548
Booger
2023 Nov 4, 2:43pm
Booger
2023 Nov 4, 2:43pm
ad says
I suspect that they are doing what they are doing with MBS's in that they are really not selling, just not buying letting the value drop as people pay down / pay off / refinance their loans.
I just hope the Fed does not lose a lot of money if they are selling US Treasuries before their expiration date.
I suspect that they are doing what they are doing with MBS's in that they are really not selling, just not buying letting the value drop as people pay down / pay off / refinance their loans.
549
AD
2023 Nov 4, 2:47pm
AD
2023 Nov 4, 2:47pm
Booger says
True as far as the Fed reducing its assets by MBS's being paid down each month by the home owners, and not buying any more MBS.
.
ad says
I just hope the Fed does not lose a lot of money if they are selling US Treasuries before their expiration date.
I suspect that they are doing what they are doing with MBS's in that they are really not selling, just not buying letting the value drop as people pay down / pay off / refinance their loans.
True as far as the Fed reducing its assets by MBS's being paid down each month by the home owners, and not buying any more MBS.
.
554
AD
2023 Nov 11, 4:54pm
AD
2023 Nov 11, 4:54pm
.
https://markets.businessinsider.com/news/stocks/us-economic-outlook-recession-markets-wall-street-stocks-interest-rates-2023-11
'The hard part is over': Here's what Goldman Sachs sees in the year ahead as markets and the economy return to pre-2008 conditions
Goldman Sachs said the economy and investing landscape is returning to a pre-2008 environment.
Strategists said the global economy has outperformed expectations in 2023, and disinflation should carry on.
Conditions are normalizing as the era of ultra-low rates ends.
https://markets.businessinsider.com/news/stocks/us-economic-outlook-recession-markets-wall-street-stocks-interest-rates-2023-11
'The hard part is over': Here's what Goldman Sachs sees in the year ahead as markets and the economy return to pre-2008 conditions
Goldman Sachs said the economy and investing landscape is returning to a pre-2008 environment.
Strategists said the global economy has outperformed expectations in 2023, and disinflation should carry on.
Conditions are normalizing as the era of ultra-low rates ends.
« First « Previous Comments 515 - 554 of 1,539 Next » Last » Search these comments
https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net