Do you ever get that feeling that you're at the tippity-top of a rollercoaster, where your stomach does a lurch before the inevitable plunge to earth?
Consumer prices surged 6.8 percent in the year leading into November and 0.8 percent last month alone as a roaring economy overwhelmed struggling supply chains and fueled inflation, according to data released Friday by the Labor Department.
I love how they slipped "roaring economy" into a piece about runaway inflation.
The talking media heads really want you to believe that inflation is happening because the economy is just doing so dang well after all those lockdowns and mandates and money printing and welfare incentives!
November's annual inflation rate of 6.8 percent is the highest since 1982.
While November's inflation surge had been widely projected, the steady upward pressure on prices is a significant strain for cash-strapped households and a political threat to President Biden and Democratic lawmakers.
There it is: the central reason for why the media wants you to believe inflation is actually a good thing.
It threatens our Lord and Savior Joseph R. Biden!
Biden and his party have sought to emphasize the many strong points of the recovery from the COVID-19 recessions, which was powered in part by a $1.9 trillion stimulus bill the president signed in March.
Hmmm, was it though?
Seemed to me that it was more like giving a diabetic man a pure injection of sucrose because his blood sugar was a bit low, then proclaiming him cured five seconds before ketoacidosis slips him into a coma.
Even so, the persistence of high inflation has overwhelmed much of those gains in the eyes of the public and taken the steepest toll on those least able to afford it.
Prices rose broadly across the economy, the Labor Department said, with prices for gasoline, shelter, food and vehicles driving much of the increases. Inflation earlier in the year was driven almost entirely by vehicles, electronics and other goods constrained by a global computer chip shortage but has now spread through many sectors.
Just a quick reminder:
It's okay though, because the Dems plan on spending trillions more to Build America Back Better... right into its grave.
Democrats and economists who support the Build Back Better plan say it won't do anything to increase inflation in the near term, adds less to the national debt than a bipartisan infrastructure bill Manchin supported and could lower costs for families long-term.
If I recall, Joe Biden said it would cost ZERO dollars, actually!
All aboard the Build Back Better train! Last stop: the bottom of steep cliff!
