by Ace
Charles V Payne @cvpayneBreaking News: CPI number is out!
Inflation hotter than (experts) expected at 8.3% from year ago
Once again Main Street knew the number would be hotter than Wall Street.Wall Street’s leftwing bias causes them to constantly get things wrong.
Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.The Dow Jones Industrial Average slid 845 points, or 2.6%. The S&P 500 dropped about 3%, and the Nasdaq Composite sank 3.9%. More than 490 stocks in the S&P 500 fell, with Facebook-parent Meta dropping 7.9% and Caesars Entertainment losing 7.3%.
…
“The velocity of this move has been breathtaking, however the market has recovered substantially off of recent lows. That this 4,000 level is still holding for the S&P 500 does reveal the fact that markets are bothered, but markets are not panicking,” said Jeff Kilburg, founder and CEO of KKM Financial.
The August consumer price index report showed a higher-than-expected reading for inflation. Headline inflation rose 0.1% month over month, even with falling gas prices. Core inflation rose 0.6% month over month. On a year-over-year basis, inflation was 8.3%.
Economists surveyed by Dow Jones had been expecting a decline of 0.1% for overall inflation, with a rise of 0.3% for core inflation.What would we do without Experts?
Are the Democrats celebrating like they did last month? John Ekdahl of the @EkdahlPressOffice offered the spin that if you adjusted the inflation rate for inflation, it actually comes in at zero.
You better believe they’re celebrating, Jack!
Update: Wages down 2.8%, too.
Inflation Soars Higher Than Expected 8.3% in August . . .
. . . Food at Home Index Up 13.5% Over Last 12 Months . . .
. . . Underlying Inflation Reaches Scorching New Record High . . .
. . . Traitor Joe Calls Horrible Numbers “Progress”
One question for greg.
Is this what you voted for?
We are one bad policy decision away from a depression
Biden is head of a wrecking crew.
https://citizenfreepress.com/breaking/biden-drains-strategic-oil-reserve/
1200 now
And, when the psychopathic overlords return to DC, they want to ramp up more spending. Not only will the so called inflation act not effect inflation, spending even more is adding gas to a currently raging fire.
CNN Points Out How Ridiculous Joe Biden Looks For Taking a Victory Lap on Inflation While the Stock Market Tanks… Because of Inflation
Apparently the WH had James Taylor sing “Fire and Rain” a song about suicide. Who in the WH thought this was a good idea?
@TrumpWon
Who in the White House thinks anything through? There is no downside (for them) for failure. They just say disaster is success and call you a threat to democracy if you disagree.
Thinking presenting a washed up folk singer in lieu of economic help for the suffering is acceptable just shows how totally out of touch with (and how they really don’t give a shit about) the American people.
Some are questioning why idiot Biden would hold his celebration of the signing of the Inflation Inflation Act on the same day as the release of some possibly (probably) bad economic news. But, why not? They are going to simply present the version of reality they want to be reality. Lying is the best option because it is the only option; the leftist propaganda apparatus is not going to call them out and a tune from James Taylor will take the minds of the stupid off the reality of high inflation and lost wages.
The border is secure. The Afghanistan withdrawal was a resounding success. Inflation is zero. The Inflation Inflation Act, doing the same thing that CAUSED all the inflation, will reduce inflation. Nothing but bullshit. Lies, 24/7.
@DeplorablevMe
Their base is the low information voter, the voter who is not politically involved.
However, those numbers are diminishing rapidly as people know from their wallets that things are going from bad to worse.
@TrumpWon
While their base is below average intelligence, due mainly to a constant diet of leftist propaganda. But, they aren’t totally stupid. They have been conditioned, due to a steady stream of disasters rendering their ideology invalid, to simply accept lies over truth. The truth is NOT what they want to hear; they can’t take it, they don’t want it and they won’t demand it.
Democrats, from Biden on down, are all Recession Deniers.
Democrats understand self-fulfilling prophesies and are trying to bolster confidence.
Republicans understand them too, and are trying to erode confidence.
Uh, it’s already “fullfilled,” you twit.
The Democrat “platform” doesn’t work. It’s all cronies getting themselves and their donors rich.
That’s it.
But the MAGA Party, the Majority by far, knows what it looks like to build and keep an economy.
Releasing a man-made virus was the only option for you thugs, it seems.
@Greg
Democrats understand they have totally destroyed the economy and want to lie about it until the elections are done, then keep spending and stealing taxpayer money, regardless of the damage it does to the economy and the American people.