I took that as a tongue in cheek comment from @scripta. I don’t think he actually thinks 23% of republicans are delusional. I think he, as with all of us that are being honest, probably think people are just less likely to blame “their side” when it comes to inflation. One way of doing that is if your guy is in office, you’ll tell a pollster you aren’t facing economic difficulty even though the money you have in the bank and the paycheck you get buys less than it did a year ago. On the flip side, someone whose guy isn’t the one in office might be more likely to say they are facing financial hardship even though they may have a new job paying 15% more than the job they had last year. They still see inflation affecting them even though they are better off year over year.
Can’t have more of a supply chain mess. Biden telling the railroads what to do even after his cooling off period is (almost) over.
- US FREIGHT RAIL SHUTDOWN WOULD BE UNACCEPTABLE: WHITE HOUSE
- ALL PARTIES MUST WORK TO AVOID RAIL STRIKE: WHITE HOUSE
Exactly. Didn’t think I had to spell it out.
Another straw on the camel’s back …
Firehouse subs, within the last two years has raised the price by of their pickle buckets by 50%. What’s the world coming to?
The “experts” believe inflation has already peaked
We will know more roughly fifty minutes from now.
the experts were wrong, as usual.
- US Aug Consumer Prices 0.1%; Consensus -0.1%
- US Aug CPI Ex-Food & Energy 0.6%; Consensus 0.3%
- US Aug Consumer Prices Increase 8.3% From Year Earlier; Core CPI Up 6.3% Over Year
and in terms of rates, chances of a full +1% hike in Sept instead of likely 3/4 % with a chance at only 0.5%.
- FED FUNDS FUTURES NOW PRICING 19% CHANCE OF 100 BP FED RATE HIKE AND 81% CHANCE OF 75 BP HIKE AT SEPT MEETING, FOLLOWING CPI
Hmmmmm
So maybe inflation has not peaked after all!
In any event, a 75 basis point hike one week from tomorrow now appears virtually inevitable.
But the Inflation Reduction Act definitely worked, so Biden is taking a victory lap.
https://twitter.com/POTUS/status/1569711466143416323
One that will perhaps be less appreciated by anyone owning stocks in light of today’s unexpected and continued CPI increase (broad markets -3%).
I dunno, I just love it when stocks go down. They’ve been flying too high for too long.
Here’s the component breakdown of the CPI in the last year or two:
Now imagine how the last two “almost flat” inflation monthly numbers look without crashing energy prices (see gray bars above). They’re around 0.5%/month or 6% annually. Biden said he was thinking about buying back oil for the SPR at $80, so there’s a floor on the oil price which is only 10% lower than currently. Mind you these falling energy prices have also been included in all sorts of other consumer goods that involve transportation, production, etc, and still those are rising.
Over the past three months, the core CPI has advanced at a 6.5% annualized pace, more than triple the 2% target.
Odds are now 2:1 for +0.75% vs +1.00% for the next Fed hike. previously it was about those odds in favor of 75bp vs 50bp.
You must be an annuities salesman/woman/zebra/emu/porpoise/dolphin/alphabetcity. 
Wow President Joseph Robinette Biden does something that’s impressive and NOT despicable/creepy. I’m not sure when he semi-said that, but it looks like he can keep oil prices low until the election. Yes, I know that was the plan, but I didn’t have a lot of confidence that he could pull it off, despite the over-the-top obvious dates.
Ya think? Wait until the September numbers. They will be near flat, which will allow for political claims of victory.
Why, do annuities sales increase when stocks go down?
Also aren’t annuities a raw deal for the buyer? Only annuity salessnakes make money.
I wouldn’t be surprised if they do. People don’t like losing money on their investments and can be talked into some bad deal product when they’re desperate due to loses vs their future needs or otherwise vulnerable.
The Inflation From The Inflation Reduction Act Reduction Act will spend an additional $3 trillion, which is expected to keep the economy from collapsing until after the 2022 midterms. Sources say a third of the funds will go to Ukraine, with the rest going to solar panels in China, Congressional pay raises, and 92 million new heavily armed IRS agents.
Joe Biden on inflation, appropriated shamelessly from the French:
“Après l’élection, le deluge”
the possible rail strike already screwing up stuff - long term routes being canceled in case it happens in the next few days. It’ll get worse for sure if they actually strike, and absent some big government bailout to smooth things over, I’m not hopeful.
Yup. Friday is the big day. Watching
One more thing needing postponement until after eighth of November.
Another big possible strike on the horizon is the port employees union. This is one in Canada but ports up and down the US West Coast are threatened
.