If you are less than 40 years old, you have actually never ever seen inflation like this in the United States. Despite all the warnings, our political leaders in Washington just kept borrowing and costs trillions upon trillions of dollars that we did not have. And in spite of all the warnings, the Federal Reserve just kept pumping trillions of fresh dollars into the monetary system. Now we have a huge mess on our hands, and anybody that believes that this is going to be easily fixed is simply being delusional.
Of course most Americans weren’t going to start paying attention to all of this till it started to impact them personally.
Now it is affecting all of us personally, and there are countless people out there that are ending up being progressively disappointed about the existing state of affairs.
Unfortunately, this crisis appears to be just in the early stages. The following are 5 numbers that show that the inflation crisis in the United States continues to get even worse …
# 1 The manufacturer rate index has risen at a rate of 9.7 percent over the previous 12 months. According to CNBC, that is close to a brand name brand-new record …
The manufacturer price index, which measures final need items and services, increased 1% for the month, against the Dow Jones quote for 0.5%. Over the past 12 months the gauge increased an unadjusted 9.7%, near to a record in information going back to 2010.
Last week we learned that the consumer cost index has risen by 7.5 percent over the previous 12 months. Naturally if the customer cost index was still calculated the way that it was back in 1980, the real number would in fact be more than double the main number that we were just offered.
# 2 Truck trailer prices in January 2022 were 29.6 percent higher than they were in January 2021 …
A scarcity of parts and labor has sent the rates of truck trailers through the roofing.
Truck trailer prices jumped 3.1 percent in January, data from the Department of Labor revealed Tuesday. That followed a 3.8 percent boost in December. Compared with 12-months back, trailer rates are up 29.6 percent, by far the most significant 1 year jump in records returning to 1980.
# 3 The U.S. Bureau of Labor Data is telling us that the cost of used automobiles increased by an astonishing 40.5 percent from January 2021 to January 2022…
According to information released by the U.S. Bureau of Labor Stats on Thursday, the customer cost index for used cars and trucks and trucks leapt up by 40.5% from January 2021 to January 2022. That suggests within a year, the typical cost of utilized cars and trucks and trucks for metropolitan consumers has increased by 40.5%.
# 4 You may have seen that you are paying a lot more at the pump these days. If you can believe it, the cost of gas has actually soared 40.8 percent because Joe Biden first went into the White House …
Between January 2021 and January 2022– President Joe Biden’s first year in office– the price of unleaded fuel increased 40.8 percent, according to the Bureau of Labor Statistics.
# 5 The price of lumber has actually been rising once again. According to the National Association of House Builders, this newest rise has “included more than $18,600 to the price of a freshly constructed house”…
That is adding to the expense of both constructing a brand-new house and renovating an older one. The National Association of Home Builders estimated the recent price dive added more than $18,600 to the price of a newly developed house. It likewise added almost $7,300 to the cost of the average brand-new multifamily house, which translates into families paying $67 a month more to rent a brand-new house.
Oops.
I sure wouldn’t want to be attempting to build a new house in this environment.
Pressure has actually been developing on the Federal Reserve to act, and it is being prepared for that the “geniuses” at the Federal Reserve might raise rate of interest by 50 basis points next month …
The hot inflation readings led monetary markets to rate in a better-than-even opportunity of a 50 basis points rate of interest hike from the Federal Reserve next month.
Inflation is running well above the U.S. reserve bank’s 2 percent target. Economic experts are expecting as many as seven rate walkings this year.
Just recently, a reader sent me an email which mentioned that we should not have a system where an unelected group of bureaucrats gets together and determines what our rates of interest are going to be.
And he is precisely ideal.
In a free market system, interest rates would be determined by the free market.
But we don’t have a free market system anymore.
In truth, we haven’t had one for a long period of time.
Obviously when it pertains to the economy, the person in the White House is going to get more of the credit or more of the blame for what is going on than anyone else.
And a brand new survey that was simply launched has Joe Biden’s approval rating sitting at just 34 percent…
The president’s approval ranking nationally relaxes 40 percent, according to a number of tracking averages, but a new CIVIQS poll showed it sitting at 34 percent from the 165,786 respondents surveyed.
That is a shockingly bad number, and what ought to alarm Democrats even more is how bad Biden’s numbers are in the most important swing states…
Swing states of Georgia, Arizona, Pennsylvania, Michigan and Wisconsin all voted directly blue in the 2020 election, but the brand-new survey reveals their approval of Biden sits in the low 30 portions.
Arizona has the most significant split with 32 percent approval to 61 percent displeasure. Georgia sits in 2nd with 31 percent approval to 59 percent disapproval; Pennsylvania’s split is 36 percent to 57 percent; Michigan is 33 percent to 59 percent; and Wisconsin has 36 percent approval and 56 percent displeasure of Biden.
Regrettably, Biden isn’t going to resign no matter how low his numbers go.
That implies that we are going to have at least three more years of either Joe Biden or Kamala Harris running the country.
So we shouldn’t anticipate any significant policy shifts from Washington.
And the “geniuses” at the Fed are certainly going to discover a lot more ways to truly mess things up. They are the ones that are more responsible than anybody else for getting us into this mess, and now many Americans are desperately hoping that they can get us out of it.
If you are waiting on them to fix the economy, you are going to be waiting a really, really long time.
I have been warning for many years that the choices that were being made would have severe repercussions, and now those effects have begun to show up.
We are on a road to national mess up, and those that are running things are even more blind than those that they are supposed to be leading.
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