It might as well be, since our TREASURY SECRETARY has no frickin’ clue WHAT IT MEANS.
NEW – Yellen on inflation: “I regret saying it was transitory.”pic.twitter.com/zYgpGzuGS6
— Disclose.tv (@disclosetv) March 13, 2024
POTATUS has his best people watching out for America. His BEST.
We are so boned.
…Yellen and others had to eat those words over the next year as the inflation rate surged to its highest since 1981. Since then, inflation has fallen far closer to its pre-pandemic norm of around 2%, but it’s still “transiting.” On Wednesday, Yellen admitted she had misjudged the path of the cost of living.
“I regret saying it was transitory,” she said. “It has come down, but I think ‘transitory’ means a few weeks or months to most people,” she said in an interview on Fox Business Wednesday.
“To MOST people”? Ya think? When even the dictionary defines it as “lasting for only a short time”?
What kind of clueless, fumbling bumble is this worthless creature? Besides being the intellectual mirror image of her boss – only with better diction – she’s yet another shameless tool in his America-destroying, history-revisionist pouch.
There are an awful lot of “told-you-so’s” out there right now, too. This one by Senator Braun is pretty clever.
Treasury Sec. Janet Yellen said she regrets saying inflation would be “transitory.” It’s been pinching American families for three years now.
President Biden’s spending created this crisis. It was foreseeable, and avoidable.
Here’s every time I predicted what would happen 🔻 pic.twitter.com/EiS750vva4
— Senator Mike Braun (@SenatorBraun) March 14, 2024
So…what happened this morning to pile on the little gnome’s discomfort and make her look even more hopelessly incompetent?
Well, the Producer Price Index for February was released, and it came in hot, hot, HOT.
Told ya. Came in hot. +0.6%
Even the core.
Sorry to burst the narrative and everything, but indicators say inflation is accelerating. https://t.co/Wl6wGZy53T pic.twitter.com/pwK15u0FJe— Frog Capital (@FrogNews) March 14, 2024
Not that it has much option when our national debt adds a trillion in interest every 100 days. But Build Back Betterer!
Also very concerning, contrary to the “Oops, transitory” theme, is the fact that the one thing keeping runaway inflation at bay in favor of the slowly bleed-you-to-death inflation we’ve been experiencing (which the White House denies exists) is that oil prices have remained relatively subdued. But I noticed while running a couple of quick errands this morning that we’ve busted $3.37 gal around town – and that wasn’t an outlier by any means. Most stations were in the $3.30-3.37 range already.
I got home, and what has happened in the markets?
Oil is going zoom-zoom. This has the potential to be bad.
I’m not a huge technical analysis guy.. But that’s a breakout on oil prices.. does not bode well for future inflation reports. pic.twitter.com/w4xyvBmPAG
— Frog Capital (@FrogNews) March 14, 2024
Yellen and the White House be all, “That should worry us why?”
…Even today, like an arsonist at the fire, Yellen makes the evidence-free claim that the slight cooling of inflation can be attributed to the Inflation Reduction Act’s “energy saving measures.”
Biden, you will recall, signed a slew of executive orders pausing government leases on public lands, shutting down construction of the Keystone XL Pipeline, and limiting drilling in the Gulf of Mexico over imaginary “social cost of carbon” externalities. Despite the (extra) uncertainty that came with a post-pandemic economy, all of these “energy-saving measures” were done in the first weeks of the Biden administration.
Cinderellas in the financial industry are still predicting a reduction in the Fed rate of as much as up to a point by the end of the year. That would help shake some sellers loose who are holding onto their homes because they’ve got really good mortgage rates right now they don’t want to lose for something substantially more expensive…with less house for the money to boot.
In that vein, there was also a report on the crazy housing market, which no one in our country’s current financial brainless trust has been able to offer a solution to.
Housing inflation is rising far faster than goods and services prices in the long run, according to a study.
Real estate information firm Clever found that since 1963, home prices have moved 2.4 times faster than the rate of inflation.1 If home prices moved at the pace of inflation in that same timeframe, the median American home today would cost only $177,511. The current median price of a home is $431,000.
…And things could get worse. It now takes 6.3 years of the median household income to buy the median home, well above the 3.5 years it took in 1985. But by 2050, it’s expected to cost 8.4 times the median income, the report found.
And the Biden bad news just keeps coming. Houthi shooties, oil, and now…chocolate?!
Cocoa prices jumped on Tuesday above $7,000 a metric ton for the first time ever, up nearly 160% from a year ago due to a brutal supply and demand gap.
You can read all the background on this @Opinion column first published a month ago. https://t.co/seqsa2T42h
— Javier Blas (@JavierBlas) March 12, 2024
Hey! If the problem is African farmers needing help replanting their groves with new cocoa trees, but don’t have enough bodies to work?
I’ve got the perfect person! Yellen’s already been there, and is an old hand at huts,
Please keep her there.
— Ultra Ultra Nuclear TRUMP 2024 Patti the Patriot (@Patti55866878) January 29, 2023
We’ll just tell her the assignment is transitory.
Sorry, not sorry.
Read the full article here
