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Thursday, June 30, 2022

Gas Prices At Pump Highest Since 2013; Biden Losing War Against Inflation

President Biden is about to have yet another major problem as the average price of gasoline surged to the highest level in seven years, according to new AAA fuel data. For this time of year, seasonal trends show prices are the highest since 2013. Despite Biden's attempt to squash surging fuel costs (as his war chest runs thin),…

On Inflation: Friday’s 7% Increase In Consumer Prices Is 11% When House Prices Are...

By Joseph Carson, former chief economist at AllianceBernsteinConsumer prices rose 0.8% in November, pushing the increase in the last 12-months to nearly 7%. That represents the most significant increase since 1982. But in reality, the current inflation rate is much higher than what is reported and above that of 1982.The shelter component of the CPI,…

Pre-2020 Prices Are Gone Forever

Authored by MN Gordon via EconomicPrism.com,Price inflation is completely out of hand.  You know this.  Your dog knows it too.Still, President Joe Biden wants you to believe he’s got it all under control.  Last month, for example, White House Press Secretary Jen Psaki insisted inflation is decreasing.  What a crock!That was about the time White House chief…
“our-prices-cannot-fall,-otherwise-there-will-be-no-profit-at-all”:-china-now-caught-in-stagflationary-vice

“Our Prices Cannot Fall, Otherwise There Will Be No Profit At All”: China Now...

As noted earlier, overnight in Asia the main news was the release of Chinese economic data for July, which came in well below expectations across the board and also posted a sharp decline sequentially, printing at the worst levels since the covid lockdown in February 2020. The numbers summarized:Retail sales grew by just +8.5% yoy…
and-now-prices-are-really-soaring:-june-rent-jump-is-biggest-on-record

And Now Prices Are Really Soaring: June Rent Jump Is Biggest On Record

With BofA predicting that the US is facing a period of "transitory hyperinflation", one which could last up to 4 years, as a result of soaring commodity prices in everything from metals to food and beyond, in what increasingly more warn is a stagflationary burst right out of the 1970s playbook...... it makes sense that…
nj-gov.-murphy:-unemployment-benefits-might-be-contributing-to-inflation,-labor-shortage,-but-i’m-not-ending-them-early

NJ Gov. Murphy: Unemployment Benefits Might Be Contributing to Inflation, Labor Shortage, But I’m...

On Monday’s “CNN Newsroom,” New Jersey Gov. Phil Murphy (D) stated that enhanced unemployment benefits might be one cause of labor shortages, one way that the shortage is being resolved is by increasing wages, which Murphy conceded “may be a contributor right now to some amount of inflation.” Murphy said that while he won’t end…
and-now-prices-are-really-soaring:-may-rent-jump-is-biggest-on-record

And Now Prices Are Really Soaring: May Rent Jump Is Biggest On Record

With BofA predicting that the US is facing a period of "transitory hyperinflation" as a result of soaring commodity prices in everything from metals to food...The @UNFAO global food price index rose for an 11th month in April to a seven year high at 120.9, representing a y-o-y jump of 30.7%. Food #inflation has not…
home-prices-are-soaring-so-fast,-they-are-negating-the-benefits-of-low-mortgage-rates

Home Prices Are Soaring So Fast, They Are Negating The Benefits Of Low Mortgage...

A recent report in the Wall Street Journal that cited data from the National Association of Realtors and Fannie Mae caught our eye by highlighting an unfortunate reality of low interest rates: while they initially help even the playing field and make homes more affordable for more Americans, after a while, price appreciation will ultimately…
soybean-prices-hit-four-year-high-as-china-demand-ticks-up

Soybean Prices Hit Four-Year High As China Demand Ticks Up

Chicago soybean futures rose to a four-year high on Thursday morning, as dry weather in South America and increasing demand from China supported prices.  "China is actively buying beans and we are seeing additional demand emerge from Brazil," a Singapore-based commodity trader said, who was quoted by Reuters.  The trader continued: "The weather is not…
apartment-prices-are-crashing-in-major-cities-worldwide

Apartment Prices Are Crashing In Major Cities Worldwide

Covid's effect on cities is starting to hit the price of rentals - and it's not just in the United States.  Apartment prices in some of the richest cities in the world are starting to show the effects of an exodus out of crowded city areas in order to move to more spacious suburbs. A slowing ebb…
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