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Friday, September 10, 2021

Bidenflation as PPI rises 8.3%

8.3%

The Producer Price Index is 8.3% higher today than it was a year ago. Zero Hedge cut to the chase, reporting, "Either firms hike prices (crushing the low- and middle-classes) or they eat the margin compression (crushing the upper-classes holding the stock)."

Welcome to higher prices then.

The signs point to inflation coming to stay after nearly a half-century of being held at bay by low interest rates and labor costs cut by Apple, Nike, and others who use slaves in Red China to make their crap.

Interest rates cannot go much lower.

And you have 10 million job openings with only 8.4 million people to fill them.

Unless Mexico starts sending us welders instead of gangbangers, labor costs will rise.

Then there is the computer chip shortage.

Reuters reported, "Toyota Motor Corp cut its annual production target by 300,000 vehicles on Friday as rising covid 9 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips."

Toyota anymore is an American carmaker. Reagan twisted the arm of Old Man Toyoda (spelling is correct) to build plants here. The result is impressive. Look at where Toyotas come from.

  • Toyota Sienna (Princeton, Indiana) 
  • Toyota Sequoia (Princeton, Indiana) 
  • Toyota Highlander (Princeton, Indiana) 
  • Toyota RAV4 Hybrid (Georgetown, Kentucky) 
  • Toyota Camry (Georgetown, Kentucky) 
  • Toyota Avalon (Georgetown, Kentucky) 
  • Toyota Tacoma (San Antonio, Texas) 
  • Toyota Tundra (San Antonio, Texas) 
  • Toyota Corolla (Blue Springs, Mississippi) 

Fewer Toyotas, fewer jobs -- but also higher prices as supply falls short of demand for automobiles.

On top of that, in the name of infrastructure, Democrats are going to flood the economy with trillions of freshly printed dollars backed by less than what backs Bitcoin. This will cheapen the dollar and lead to more inflation.

To pay for this misadventure, Biden wants to raise taxes.

80% of Americans oppose that, but since when did public opinion or common sense stop Democrats?

The Misery Index (inflation rate plus unemployment rate) under President Trump averaged 6.91. Only Ike and LBJ were lower among the last 14 presidents. And they did not have to deal with the covid spike in unemployment (14.7 in April 2020).

That is what you get when you elect a billionaire who was a CEO for 45 years.

Now we have a DC lifer who was in the Senate for 44 years (counting 8 years as president of the Senate as VP).

The difference will be felt in your wallet.

Lord Conrad Black wrote, "Hourly pay scales are increasing at 7.5%, new car prices at 10%, rental accommodation at 12%, and new homes at 20%, all well ahead of the official rate of inflation, contrary to the smug assurances of Treasury Secretary Yellen and even some Federal Reserve spokespersons, that inflation was a mere bubble.

"Historically, the only sustainable way of fighting stagflation has been to counter inflation with increased supply and achieve that goal and the corresponding non-inflationary increase in demand through the encouragement of demand in the tax system. The present administration is committed to raising taxes and to colossal spending increases, which would exacerbate both stagnation and inflation.

"After 13 years of negligible interest rates, there isn’t much that’s useful left in the toolbox. The inflation of the sort that is already building up historically has been attacked by reducing demand and sharply increasing interest rates. Any such policy now would produce a disaster that would be a fiscal and monetary replication of the debacle in Afghanistan.

"Not since Herbert Hoover prescribed higher taxes, higher tariffs, and a shrinkage of the money supply as the remedy for the Great Depression has an American administration more poorly judged the policy prescriptions necessary to fight deteriorating economic conditions."

Herbert Biden.

13 comments:

  1. Everybody's ox will be gored.

    This is why Trump will be reinstated.

    ReplyDelete
    Replies
    1. I wish you were right about that, but every deep state puppet will fight to stop that.
      We are not organized like the commies. Contrast how real rioters have been treated by the courts vs how the January protesters have been treated.
      I have faith in GOD. I have no faith in even the best republican politician.

      Delete
  2. Wish could agree. It would take massive support from RINO's in DC to get trump back, and thats as likely as Beijing Biden telling China to pack sand.

    ReplyDelete
  3. Crappy days are here again
    Unemployment line are long again
    We'll be begging for change on the corner soon
    Crappy days are here again.

    We have all been shit on now
    Only Trump can save us now.
    But if Xiden quits we will get a cow
    Crappy days are here again.
    Your money, savings soon are gone
    There'll be no prosperity from now on.
    They will tax you to
    Ob live E yawn
    Crappy days are here again.

    ReplyDelete
  4. I like "We're In the Money" better. The video for that is a cut of the song being sung and the dance being by Ginger Rogers done from the Broadway show The Gold Diggers.

    Much more excited about the grift and the scam going on and going to happen. Get out there and get yours!!!

    ReplyDelete
  5. Here let me try this: https://www.youtube.com/watch?v=UJOjTNuuEVw

    Will that publish?

    ReplyDelete
  6. I particularly like the part where she sings the song in Pig Latin!

    What a talent.

    ReplyDelete
  7. This is where Big D’s Trenchant Truths will become even MORE important to people who still give half a fook. Honestly, the Corrupted Media will (already have, in some areas like COVID) spin shite like a basketball, with the ultimate fallback of Blaming Trump. Things are in fact deteriorating - data SHOWS it - and Our Don will be there to document it all. Thank you brother.

    ReplyDelete
  8. I bet the number is higher and the Zhou Xiden regime is cooking the books.

    ReplyDelete
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