patrick.net

From NY Post article. Looks like then inflation will not be a major priority or factor in 2024 if this is true.

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“Since 2009, this has been 100% artificial, unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. This is off the charts, 100% artificial, which means we’re in a dangerous state,” Harry Dent told Fox News Digital.

“I think 2024 is going to be the biggest single crash year we’ll see in our lifetimes.”

to them wanting "only" 1.7% over the rate of inflation today

So what do banks want for 30 year mortgage rate after inflation steadies around 2.75% ?

They want a rate of 5.75% ?

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Red Sea attacks could raise prices for U.S. consumers

Attacks on Red Sea shipping might raise prices for consumers because cargo carriers take longer routes to avoid dangerous waters for now.

Iran-backed Houthi rebels in Yemen first struck cargo ships with drones and missiles this month, in what they claim is retaliation for Israel’s actions in the Gaza war. The disruptions caused shipping giants Maersk, CMA CGM and COSCO to reroute shipments around the Cape of Good Hope in South Africa, maneuvers that are increasingly costly to shippers and consumers.
As of Tuesday, shipping carriers expect most services to avoid the Red Sea through China’s Lunar New Year festival, said Ryan Petersen, CEO of Flexport, a logistics technology company. The two weeks leading up to the celebrations is a peak period for shippers, who rush to deliver goods before the holiday, which starts Feb. 10.
Experts say the costs of rerouting vessels around South Africa or through the Panama Canal will increase prices for consumer goods shipped from Asia to the U.S. East Coast.
“It’s about an 8 percent longer journey, which is going to drive prices up quite a bit for ocean freight — that’s a material impact on prices for the goods themselves,” Petersen said. The rising costs will affect the price of “most of the stuff that you see in all the stores,” other than food, raw materials, and energy, he added.

"Where's the fucking US Navy? Why the fuck these "houthi" fucks are not embedded into a glass parking lot yet?"

GNL says

Inflation will be reported as whatever they want it to be.

yes its government reported inflation...what is your estimate of annual inflation ?

Chic-fil-a has increased prices 21% in the last 2 years.

government employees getting the largest pay increase in 25 years, along with COLAs for everyone.

Yep, and unfortunately too many of those government employees, along with Social Security and federal retirees will look at their increases and say "Yippee, Biden gave me a pay raise!"

WTF do you think that will do to the inflation rate??????

the unsubstantiated increase in wages creeps through to rent and OER for the rest of the year.

I read on Yahoo Finance today that 216,000 jobs were added in December 2023 versus a forecast of 175,000.

Out of those 216,000 jobs added last December, 52,000 were government jobs and 38,000 were healthcare/social assistance jobs.

Unemployment is now at 3.7% versus forecast of 3.8%.

More government related jobs may create inflation and government debt risks. I heard on news radio a lot of the increase in jobs are related to jobs supporting the surge in immigration.

https://finance.yahoo.com/news/december-jobs-report-us-economy-adds-216000-jobs-shocking-wall-street-133957707.html

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