tomder55
Sep 14, 2022, 05:08 AM
Markets plummet yesterday on inflation rising despite stabilization in gas prices ;supply chain issues easing ; the Fed doing mega-rate hikes ,and used car prices issues fading.
U.S. Consumer Price Index Up 0.1% in August, Up 8.3% Year-to-year - Latest Tweet by Reuters | �� LatestLY (https://www.latestly.com/socially/world/u-s-consumer-price-index-up-0-1-in-august-up-8-3-year-to-year-latest-tweet-by-reuters-4199934.html)
CPI is all driven by too much monopoly $$$ in the works .Cheaper gas (due to China still doing covid lockdowns suppressing demand) was offset by steep jumps in the cost of food (up 13.5%), electricity (15.8%), rent (6.8%) and health insurance (24.3%). Coming soon to America ,the cost of heating a home this winter .
The market crash yesterday brought the market to levels below when Clueless took office and we were coming out of a self imposed covid slow down. The loss to Americans in retirement savings , education savings ,savings for home purchases all tied to the markets are immeasurable .
So it is more than curious that Clueless held a celebration for the mis-named Inflation reduction act at the White House ,complete with an appearance by James Taylor singing 'Fire and Rain'(a song about suicide and heroin addiction)
Won't you look down upon me, Jesus?
You've got to help me make a stand
You've just got to see me through another day
My body's aching and my time is at hand
And I won't make it any other way
It was a completely tone deaf slap in the face to the average American who is getting clobbered by almost double digit price increases to pay for their daily needs . We as a nation are paying more than $460/month more for items typical in a family budget (and it is probably even more because I was using June #s)
They were celebrating the passage of the $$$$$ multi-billion green energy spending bill disguised as an “Inflation Reduction Act.”
Clueless bragged that the bill would “help reduce inflation at the kitchen table” — touting $400 billion in environmental spending, including tax credits of up to $7,500 to buy ev's and subsidies for home energy efficiency, and roughly $64 billion to extend Obamacare subsidies(which would completely collapse without the endless infusions of monopoly bucks ).
Here is the convoluted logic . Let's say that last month I borrowed $1,000 then only paid the bare minimum to cover the interest on the loan. Then in the next month I only borrowed $500, I just increased the debt I owed .......right ?
Not according to Clueless. According to Clueless ,since I only borrowed half of the amount from the previous month ; I saved $500 !!! wooohooo !!! time to do a Snoopy dance for a job well done.
NBC's WH reporter Kelly O'Donnell asked KJP about the disconnect
"Is there any concern about a dissonance between the current economic moment and the kind of celebration you'll have...about the 'Inflation Reduction Act?'
"KJP: "We have to remember, the 'Inflation Reduction Act' is historic."
Townhall.com on Twitter: "REPORTER: "Is there any concern about a dissonance between the current economic moment and the kind of celebration you'll have...about the 'Inflation Reduction Act?'" KJP: "We have to remember, the 'Inflation Reduction Act' is historic." https://t.co/IKd5U5t7r9" / Twitter (https://twitter.com/townhallcom/status/1569757050242043916?ref_src=twsrc%5Etfw%7Ctwcamp%5 Etweetembed%7Ctwterm%5E1569757050242043916%7Ctwgr% 5E8b5803779676901bc7e091f98b5b4fb959f3edf9%7Ctwcon %5Es1_&ref_url=https%3A%2F%2Fwww.americanthinker.com%2Fbl og%2F2022%2F09%2Fcrises_like_never_before__and_joe _bidens_team_celebrates.html)
Even worse ;to pay for this orgy of needless spending ,the government will flood us with even more monopoly money ;which will in turn add even more inflationary pressure.
Been walking my mind to an easy time
My back turned towards the sun
Lord knows, when the cold wind blows
It'll turn your head around
Well, there's hours of time on the telephone line
To talk about things to come
Sweet dreams and flying machines in pieces on the ground
U.S. Consumer Price Index Up 0.1% in August, Up 8.3% Year-to-year - Latest Tweet by Reuters | �� LatestLY (https://www.latestly.com/socially/world/u-s-consumer-price-index-up-0-1-in-august-up-8-3-year-to-year-latest-tweet-by-reuters-4199934.html)
CPI is all driven by too much monopoly $$$ in the works .Cheaper gas (due to China still doing covid lockdowns suppressing demand) was offset by steep jumps in the cost of food (up 13.5%), electricity (15.8%), rent (6.8%) and health insurance (24.3%). Coming soon to America ,the cost of heating a home this winter .
The market crash yesterday brought the market to levels below when Clueless took office and we were coming out of a self imposed covid slow down. The loss to Americans in retirement savings , education savings ,savings for home purchases all tied to the markets are immeasurable .
So it is more than curious that Clueless held a celebration for the mis-named Inflation reduction act at the White House ,complete with an appearance by James Taylor singing 'Fire and Rain'(a song about suicide and heroin addiction)
Won't you look down upon me, Jesus?
You've got to help me make a stand
You've just got to see me through another day
My body's aching and my time is at hand
And I won't make it any other way
It was a completely tone deaf slap in the face to the average American who is getting clobbered by almost double digit price increases to pay for their daily needs . We as a nation are paying more than $460/month more for items typical in a family budget (and it is probably even more because I was using June #s)
They were celebrating the passage of the $$$$$ multi-billion green energy spending bill disguised as an “Inflation Reduction Act.”
Clueless bragged that the bill would “help reduce inflation at the kitchen table” — touting $400 billion in environmental spending, including tax credits of up to $7,500 to buy ev's and subsidies for home energy efficiency, and roughly $64 billion to extend Obamacare subsidies(which would completely collapse without the endless infusions of monopoly bucks ).
Here is the convoluted logic . Let's say that last month I borrowed $1,000 then only paid the bare minimum to cover the interest on the loan. Then in the next month I only borrowed $500, I just increased the debt I owed .......right ?
Not according to Clueless. According to Clueless ,since I only borrowed half of the amount from the previous month ; I saved $500 !!! wooohooo !!! time to do a Snoopy dance for a job well done.
NBC's WH reporter Kelly O'Donnell asked KJP about the disconnect
"Is there any concern about a dissonance between the current economic moment and the kind of celebration you'll have...about the 'Inflation Reduction Act?'
"KJP: "We have to remember, the 'Inflation Reduction Act' is historic."
Townhall.com on Twitter: "REPORTER: "Is there any concern about a dissonance between the current economic moment and the kind of celebration you'll have...about the 'Inflation Reduction Act?'" KJP: "We have to remember, the 'Inflation Reduction Act' is historic." https://t.co/IKd5U5t7r9" / Twitter (https://twitter.com/townhallcom/status/1569757050242043916?ref_src=twsrc%5Etfw%7Ctwcamp%5 Etweetembed%7Ctwterm%5E1569757050242043916%7Ctwgr% 5E8b5803779676901bc7e091f98b5b4fb959f3edf9%7Ctwcon %5Es1_&ref_url=https%3A%2F%2Fwww.americanthinker.com%2Fbl og%2F2022%2F09%2Fcrises_like_never_before__and_joe _bidens_team_celebrates.html)
Even worse ;to pay for this orgy of needless spending ,the government will flood us with even more monopoly money ;which will in turn add even more inflationary pressure.
Been walking my mind to an easy time
My back turned towards the sun
Lord knows, when the cold wind blows
It'll turn your head around
Well, there's hours of time on the telephone line
To talk about things to come
Sweet dreams and flying machines in pieces on the ground