‘Biden’s America’: Economists Issue Warning For Americans To ‘Brace Themselves’ For Years Of Inflati

[Free Vulcan]

A new report on Sunday highlighted concerns from top economists about the impacts of Democrat President Joe Biden’s massive government spending.

“Americans should brace themselves for several years of higher inflation than they’ve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a while,” The Wall Street Journal reported. “The respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before. They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023. That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.”

The report noted that inflation measures had jumped to their highest levels since the early 1990s and that the Biden administration may not raise rates until after the midterms to avoid more fallout at the polls from the administration’s policies.

https://www.dailywire.com/news/bidens-america-economists-issue-warning-for-americans-to-brace-themselves-for-years-of-inflation-not-seen-in-decades-report-says

[Kamaji]

Inflation, .... or stagflation?

[Wingnut]

Like my father and grandfather before him, I can pinch a nickel hard until the buffalo craps. But I shouldn't have too.  Dementia Joe has got to go.

[DefiantMassRINO]

In a free market, high prices should moderate consumption and increase production (where increased production is allowed).

Local and state over-regulation of housing development is limiting the supply of housing in localized markets, especially in the Northeast and California.

[libertybele]

Like my father and grandfather before him, I can pinch a nickel hard until the buffalo craps. But I shouldn't have too.  Dementia Joe has got to go.

Yes he has to go, but being replaced by Kamel may be even worse.  The damage that Joe has already done is indeed very noticeable.

He and the leftists are marching us towards socialism and with them now being experts at stealing elections I don't see that changing.

[Free Vulcan]

In a free market, high prices should moderate consumption and increase production (where increased production is allowed).

Local and state over-regulation of housing development is limiting the supply of housing in localized markets, especially in the Northeast and California.

In a more isolated economy like the 50's when we were about the only game in town, that is true.

In a more global economy of today with an economic rival like China, approaching $30T in debt, and a good chunk of our dollars and dollar denominated assets being held overseas, it creates a far more volatile and dangerous scenario.

[mystery-ak]

Inflation Worries Grow

John Carney12 Jul 20216

The American public is increasingly worried about inflation.

Twenty-six percent of adults say that inflation is a bigger problem than unemployment, a poll by The Economist and YouGov shows. Twenty-one percent say unemployment is the bigger problem. Forty-two percent said both are equally as important.

The public also rates price level as the most important economic indicator. Forty-two percent say the prices of goods and services they buy are the most important economic indicator, followed by 25 percent who said unemployment and jobs reports.  Ten percent said their personal finances are the most important and six percent said the stock market is the most important.

This is a big change. In January, just 24 percent told pollsters that the most important economic indicator was prices. Forty-two percent said unemployment and jobs reports.

The government will release its Consumer Price Index for June on Tuesday. Economists expect the pace of monthly price increases to tick down from 0.6 percent in May to 0.5 percent. CPI has come in hotter than expected for three months.

https://www.breitbart.com/economy/2021/07/12/inflation-worries-grow/

[mystery-ak]

NY Fed: Inflation Expectations Soar to Record High
https://www.breitbart.com/economy/2021/07/12/ny-fed-inflation-expectations-soar-to-record-high/

[Hoodat]

In other words, our federal government will continue to print up new money to finance its deficit spending in the years ahead.