Re Bidenflation: Consumer Prices Soar 6.2% Worse than expected

Santa Clara CA

Description

As you should have been able to understand but haven't what I posted is sourced from Department of Labor who as an institution is more than qualified to make these assertions which I reposted. Please explain why I have to be an economic expert to show their findings? My opinions are Biden shutting down oil & gas production through various Executive Orders and other Administration Departments creating shortages that would not exist otherwise which created the short supplies and price increases that occur with any product when it's supply is artificially interrupted. This could be easily reversed if Biden allowed our energy sector to supply us as they did before Biden took office when in fact the US went beyond energy independence for the first time in 70 years but an energy exported to our friends and allies. Secondly the supply chain backlog with hundreds of cargo ships anchored outside our ports is an issue of not enough trucks and drivers allowed to transport from these ports because of state regulations pushed by transport unions that have no relevance to the cargos safe removal and deliveries. To alleviate this backlog Biden should declare an emergency using the NEA or National Emergency Act to allowed transporters not licensed in California to come in and help move the cargo to their chosen destinations. If you can't see the truth in my statements then at the very least I'm smarter than you. ----------------------------------------------------------------------------------- Obviously the OP must be an economics expert. I would love to hear your credentials. I would also love to hear what you would do differently than Joe Biden. Any laughed can whine and complain and echo opinions they hear on Fox News. But it takes intelligence to bring solutions tom problems. So, Mr. economics "expert", let's hear your solutions. How would you keep inflation in check during a pandemic and during supply chain challenges? Now is you big chance to show how smart you are. ----------------------------------------------------------- Bidenflation: Consumer Prices Soar 6.2% Worse than expected Fastest Rate in 30 Yrs Consumer prices rose at their fastest rate in decades in October, data from the Department of Labor showed Wednesday. The Consumer Price Index rose 0.9 percent in October from September, exceeding expectations for a 0.6 percent rise. Compared with the prior October, prices are up 6.2 percent, exceeding expectations for a 5.8 percent rise and the highest annual rate since 1990. Excluding food and energy, two categories of goods that are central to the cost-of-living to households but are so volatile that economists look beyond them to see underlying inflationary trends, and prices rose 0.6 percent on a monthly basis and 4.6 percent annually. Both exceeded expectations. Earlier this year, inflationary pressures were largely concentrated in a few areas of the economy, leading Fed officials and others to expect inflation to taper off when temporary supply bottlenecks cleared up and demand surges related to the reopening of parts of the economy subsided. Instead, the tide of rising prices has accelerated, broadened, and become stickier. The Department of Labor described October inflation as “broad-based, with increases in the indexes for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors.” Energy prices rose 4.8 percent in the month, with gasoline prices rising 6.1 percent compared with the prior month. The food index rose 0.9 percent in the month and 5.3 percent over 12-months, with food at home rising one percent on a monthly basis and 5.4 percent annually. LET'S GO BRANDON!