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Inflation Beyond the Stars Thread for April 12


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2022 Apr 12, 12:49am   147,964 views  1,541 comments

by AmericanKulak   ➕follow (9)   💰tip   ignore  

Since we know the numbers are going to suck since Peppermint Patty is leading the Amen Corner Media to blame Putin for it:
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

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925   AD   2024 Apr 10, 11:06pm  

.

thanks to Mister Mish: https://mishtalk.com/economics/the-cpi-rose-sharply-in-march-led-by-shelter-and-gasoline/

annual CPI or inflation is 3.5% for March 2024

the annual CPI was 3% in June 2023 and it has remained within the range of 3% to 3.5% up to March 2024

.
926   AD   2024 Apr 10, 11:28pm  

The Wolfman at Wolfstreet reports that accordingly interest rates have increased : https://wolfstreet.com/2024/04/10/treasury-yields-spike-3-year-by-25-basis-points-inflation-in-services-smacks-down-rate-cut-mania-mortgage-rates-hit-7-34/

10 Year Treasury is around 4.6%.

That is what I expected as its usually around 1.5% above annual inflation. It should be 5% since annual CPI is 3.5% now up from 3.2% in February 2024.

Will see at end of this month what the PCE is, since the Federal Reserve relies on that more to gauge inflation.

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927   AD   2024 Apr 11, 1:06am  

.

https://www.usatoday.com/story/money/2024/04/09/states-highest-lowest-inflation/73184932007/

See above. Inflation is the highest in Florida at 3.91% and lowest in Rhode Island at 1.78%.

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928   zzyzzx   2024 Apr 11, 7:39am  

1/3 full brand new deodorant


929   Patrick   2024 Apr 11, 12:39pm  

https://www.coffeeandcovid.com/p/going-on-offense-thursday-april-11


On nearly every front in domestic policy, Joe Biden is failing, especially the economy. In a rational world, that would be a terrible sign for his re-election. It’s the economy, stupid. Yesterday, media broadly covered a story that popped up in Yahoo Finance under the headline, “Inflation comes in hotter than expected in March.” Unexpectedly! Contrary to Biden’s many lies about the economy, inflation is blasting into orbit, even according to highly-manipulated official data.



... Name one domestic area where normal citizens are better off than they were in January 2020. I dare you.

For your amusement, here’s a fun compendium of Biden officials denying that inflation exists or calling it temporary or “transitory”, meaning oh, it’s just a transition. True. It’s a transition from bad to worse...
931   AD   2024 Apr 11, 12:59pm  

Patrick says

Joe Biden is failing


If the economy is that bad over the next 6 months , then the media will try to not ignore it but say its not as bad as people think.

And their script or narrative will be that Trump cannot be President at any cost, even if there is a perception that Biden is terrible for the economy.

They'll just very subtly and sophisticatedly lower the bar.
933   stereotomy   2024 Apr 11, 5:39pm  

Asset price inflation precedes consumer/producer price inflation. Once all the ZIRP money taps out assets, the only place it can go is commodities or the basics required for living. This is ref to post 929.

Case in point, for the last 5 years:


Now just look at gold from 2024:

934   zzyzzx   2024 Apr 12, 8:06am  

Instead of a 6 pack:


940   zzyzzx   2024 Apr 15, 6:13am  

170 instead of 200:


951   zzyzzx   2024 Apr 17, 8:50am  

https://www.cnbc.com/amp/2024/04/16/powell-cites-lack-of-progress-this-year-in-reaching-feds-inflation-goal.html

Fed Chair Powell says there has been a 'lack of further progress' this year on inflation
952   zzyzzx   2024 Apr 17, 9:36am  

https://www.cnbc.com/2024/04/10/the-supercore-inflation-measure-shows-fed-may-have-a-real-problem-on-its-hands.html

The ‘supercore’ inflation measure shows Fed may have a real problem on its hands
955   DOGEWontAmountToShit   2024 Apr 18, 3:12am  

The_Deplorable says






Fed doesn't take 40% of your paycheck.
957   zzyzzx   2024 Apr 18, 5:47am  

UkraineIsTotallyFucked says

Fed doesn't take 40% of your paycheck.


32 - 35% marginal rate + Obamacare taxes, plus Social Security, so yes. Then state taxes in top of that.
960   DOGEWontAmountToShit   2024 Apr 18, 7:30am  

zzyzzx says

32 - 35% marginal rate + Obamacare taxes, plus Social Security, so yes. Then state taxes in top of that.
958


The Fed does not collect taxes at all.
961   zzyzzx   2024 Apr 19, 10:15am  

Try not to stick your dick in it:


962   AD   2024 Apr 19, 10:42am  

zzyzzx says

32 - 35% marginal rate + Obamacare taxes, plus Social Security, so yes. Then state taxes in top of that.


That is true as after paying say 32% on federal income tax then you have to pay self employed tax (Social Security and Medicare) which I believe is 15.3%.

Then if you do not have insurance through your company since you are self employed and have only 1 or 2 employees, then you have to buy on the Affordable Care Act (ACA) exchange. Get ready to pay at least $850 a month for a high deductible silver plan without any subsidies.

Then you got the state income tax, property tax, and sales tax at the non-federal level.

So what's the TOTAL effective tax rate from federal to local tax on your total income ? 50% at least ?

I don't count the ACA in the TOTAL but I wonder how much of the $850 monthly premium for a silver plan is a "transfer payment" or essentially a tax.

Even the Chief Justice of SCOTUS said its essentially tax in his ruling.
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963   HeadSet   2024 Apr 19, 3:23pm  

zzyzzx says

Try not to stick your dick in it:




Hole is too small.
964   Al_Sharpton_for_President   2024 Apr 20, 5:59am  

Patrick says






Inflation can be slowing, but the price increases are here to stay. It will take deflation to result in prices going down.

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