The job market is freezing up and inflation isn’t going away. From Jeffrey Tucker at The Epoch Times via zerohedge.com:
“Inflation cooled, lower than expected,” read the financial press on the release of the Consumer Price Index (CPI) for July. One only needs to look carefully: when month-to-month changes are down, those alone get the headline. When they are up, as they are in July, the headline focuses on the 12-month trend. Every time.
Based on the data release we have, the “cooling” is actually up from June to July, if you can believe it.
(Data: Federal Reserve Economic Data (FRED), St. Louis Fed; Chart: Jeffrey A. Tucker)
Most of the change is driven by housing but the CPI is far from capturing the whole. By using a black-box statistic called Owners Equivalent Rent, the CPI is able to completely bypass and not report data we actually have on housing prices. And that’s just the start of the problems we’ve discussed many times. Even so, the CPI still reveals something. Even then, we keep being told life is better than ever.
We know it is not true. Everyone to whom you speak knows the financial and economic strains of our time. They are grave and growing, and most data points are now underscoring the point. The jobs market even in hourly employment is freezing up, while inflation continues to take its toll. It is well known, finally, that we have lost far more than 20 percent of our purchasing power over four years. How much is still largely a guess based on spending patterns.
Hells yea, the cold beer section, you have chosen wisely.
(from the photo)
Of course the ‘conomy is in crisis, the comrades can’t do Econ 101.
Bad economy is part of burn it all down better.
Si se puede!
Maybe stale 19th century horseshit just doesn’t work anymore?
Yea, we are the ones, it’s gonna work this time.
Eat Shit Commie