Inflation Up Again In November

Inflation is now the highest it’s been in 40 years. In November the inflation rate was 6.8%, which was up from October’s rate of 6.2%. You have to go back to 1981 (which was a recession year) to see the type of increasing prices that we are seeing now. And what’s Joe Biden doing about it? He’s saying that this is the “new normal”. When was the last time we saw this? In case you can’t remember, it was when Bobo Obama was the president, and said that the poor economy that America was experiencing was “the new normal”. So, this is the same old play from the sam old playbook.

And what is Biden doing for all of this? Absolutely nothing. People are quitting their jobs at record numbers. Biden says it is because we’re moving up to better jobs. Well, if that were the case, why are there some 10.5 million jobs out there still available? There is some trading up of jobs from minimum wage jobs to better paid jobs. As far as spending, Biden is opening the jobs at the government and is hiring like we’ve never seen in our lifetime. And while Biden touts this as the largest job growth in history, you have to go back to 2017 in order to find the same number of people at work. That’s right. Biden’s economy has erased three years of job growth, and we’re nowhere near where we were when the pandemic hit in March of 2020.

I said a few months ago that from conversations I had with several “money people” I know around the country, their consensus was that the inflation rate for next year (2022) would be between 7-10%. It would rise between 10-13% in 2023 with a likely recession that probably would last at least a year. The reason for the inflation? Unlike Joe Biden, who likes to blame either Donald Trump or COVID for everything, the people that do this stuff for a living tell me it’s because we are printing too much money. That cheapens that dollar because there are more of them out there. These aren’t stupid people either, so I do put some trust in them. Well, let me say this…I put a LOT more trust in them than I do Joe Biden. Biden has convinced me he must have failed every economics course he ever took!

Carry on world…you’re dismissed!

7 thoughts on “Inflation Up Again In November

  1. All their claims regarding the inflation damage are pretty much foolish diversions. The base cost for any price rise from producers, transportation and sale from markets and stores is grounded in the cost and availability of gasoline. Open up the pipeline and things will return to normal. Closing the pipeline also jeopardizes the military and economic security of the USA. If missiles start flying in the Middle East no one here will have any gas to buy.

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    1. Oh, the pipeline is probably the biggest cause, no doubt! But Biden’s printing of money figures in there as well. He’s flooded the market with dollars, and that just cheapens the dollars already out there!

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  2. I do believe there are “naturally occurring” economic events that are part and partial of a complex economy, such as ours — dips and spikes in the demand for goods and services, for example. But then there are also consequences to tax and spend government policies, as well. It shouldn’t take a Ph.D. in economics to anticipate the likely consequences of forcibly shutting down energy production and a concomitant increase in reliance on foreign energy.

    Nor should anyone be shocked that shutting down Mom & Pop businesses or restricting foreign imports will have a disastrous impact on the supply chain and a consequential rise in the cost of goods and services that are high in demand and low on supply.

    And yet, these conditions are exactly what the American voter stood in line for. This is why Americans elected Biden; it’s why Americans keep reelecting Democrats in Congress. And they seem happy enough to accept the “new normal” argument, which we’ve heard repeated ad nauseam since the heady old days of Jimmy Carter.

    But here’s what is shocking: we have never learned any worthwhile lessons from past mistakes. By mistakes, I mean to suggest our absolutely ludicrous habit of identifying the least qualified person for political office and then electing them to positions where they ultimately make our lives miserable in the extreme. When government policy causes our employers to reduce the workforce, when government policy causes us to spend more at the pump, at the grocery store, for school clothes for our kids at the beginning of the school year, when government policy demands that our small businesses close down for two full years — the ramifications of which are mind-blowing, then it would seem to me that a rational person would want to avoid all such candidates in future elections. But, no.

    All of this leads me to conclude, in complete agreement with one of my blog buddies, that until the pain of government absurdity becomes completely unbearable to the average Joe, American voters will continue to redefine idiocy. We reap what we sow.

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    1. See, I would tend to disagree that we elected Biden because of the conditions you mentioned. I think they elected Biden because they didn’t like the WAY Trump was behaving, not the way he was doing things. The conditions overall were great (1.5% inflation versus 7%). The problem is, and you’re right here, we buy into the “new normal” crap that Obama spread, and Biden is spreading. But in the end, it’s someone like a Ronald Reagan (It’s morning in America), or Trump (Make America Great Again) that says we can do better, and they prove it, that works! But you are correct 100% in your conclusion. America only reacts when average Joe in America feels pain. That rarely happens with most of the stuff that DC does.

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    2. Is it stupidity or intentional? I think the latter because they want the whole capitalist system to collapse wherein we become totally socialist government dependent. . They really do want to change America.

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