Senator and future President* Joe Biden and then President Jimmy Carter
Inflation is not coming, it’s here.
It’s time to dust off Jimmy Carter’s ‘misery index’.
Most people do not remember gas lines, 20% home mortgage interest rates, and stagflation. It’s time to open those history books and look at what horrible economic policies actual create – misery.
Today’s economic data released shows accelerating inflation, with the core numbers off the charts.
Inflation’s still accelerating as headline CPI soared 5.0% YoY (hotter than the +4.7% expected). That is the highest level of inflatuion since Aug 2008, wrote Zero Hedge.
But it is core CPI that is the huge outlier, soaring 3.8% YoY – the hottest level of inflation since 1992…
OBiden is bent on destroying us economically. The only question is whether we can remove this illegitimate communist leader from office before he takes us past the point of no return.
Consumer Price Index Core s.a. (May) printed at 275.72.
Continuing Jobless Claims (May 28) printed at 3.499M vs 3.602M consensus estimate.
Consumer Price Index (MoM) (May) printed at 0.6% vs 0.4% estimate.
Consumer Price Index n.s.a. (MoM) (May) printed at 269.195 vs 268.473 estimate.
Initial Jobless Claims (Jun 4) printed at 376k vs 370k estimate.
Consumer Price Index ex Food & Energy (MoM) (May) printed at 0.7% vs 0.4% estimate.
Initial Jobless Claims 4-week average (Jun 4) printed at 402.5k.
Consumer Price Index (YoY) (May) printed at 5% vs 4.7% estimate.
Consumer Price Index ex Food & Energy (YoY) (May) printed at 3.8% vs 3.4% estimate.