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But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
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T-mobile to lay off 5000 from corporate and support offices, but not frontline or retail employees, total employee reduction represents 7% of workforce.
I wonder if we'll start to see more layoffs and an increase in unemployment toward the end of this year, and if CPI and PCE will drop accordingly.
https://www.usatoday.com/story/money/2023/08/25/t-mobile-layoffs-cut-workers-jobs-nationwide/70680602007/
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Clearly that was a lie. Anyone thinking that a merger wouldn't result in layoffs is a moron.
Maybe we'll see a drop in restaurant prices, vacation rental prices,
Is AI going to do to coders like word processing did to clerk typists and it replacing the typist pool at work ?
Biden cancels all oil, gas drilling leases in Alaskan Arctic wildlife refuge...
Interior Department Secretary Deb Haaland authorized the cancellations of seven leases held by Alaska’s state-owned economic development agency, the Alaska Industrial Development and Export Authority, in the remote coastal region that sprawls more than 19 million acres bordering Canada to the east and the Beaufort Sea to the north.
I wonder if this type of service will help to keep medical costs down
It was CPI day. So it might be expected that some anomaly in the monthly data would provide a timely reminder that Washington’s main inflation index isn’t all it’s cracked up to be. In the context of our Monetary Mission Impossible series, it also provides further proof that the Fed’s fanatical quest to reach its 2.00% inflation goal is utterly misguided.
As it happens, the number -33.6% contained in the August CPI report fulfills both of these expectations and then some. This figure supposedly represents the Y/Y plunge in the cost of medical insurance!
That’s right. Anything connected to the medical delivery system was up by hefty amounts in August on a Y/Y basis, but the thundering collapse (purportedly) of health insurance costs allegedly saved the day. As shown below, according to the BLS the index for overall medical services was down -2.1% on a Y/Y basis in August when all of its other components where positive, some of them like dental care and home health services strikingly so.
Y/Y Change In CPI Medical Services And Its Components:
Dental services: +5.3%;
Eye care:+3.4%;
Physicians: +0.3%;
Home health services: +6.9%;
Hospital services:+3.0%;
Nursing home care: +6.1%;
Health insurance: -33.6%;
Overall Medical Care Services: -2.1%
... Yet that’s where the monetary politburo now finds itself impaled. That is, squinting at 27% of the CPI (i.e. the supercore) in order to calibrate its anti-inflation “tools” when this sawed-off inflation metric is so distorted by the BLS’s whacko health insurance proxy that it’s not worth the paper it’s printed on.
Health insurance: -33.6%;
restock the Reserve
Birdbrain Biden is fucked cause now OPEC and Russia is cutting production and the price of gas has gone up.
Since the start of the Russia-Ukraine conflict, Zimbabwe's inflation rate shot up from 66% to more than 130% in May 2022. By June 2022, it surged again to 191%.
And of course Wikipedia is blaming the war instead of money printing for inflation, because they have an agenda.
In April 2023, the government announced the introduction of digital currencies backed by gold reserves. The digital money will be allowed to be transferred for people and business as a form of payment via e-gold wallets or e-gold cards.
need robots and automation to increase productivity if the total worker participation rate is going to continue to decline due to demographics
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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