Let’s Go Brandon! Looks Like Stagflation Is Already Here

[mystery-ak]

Let’s Go Brandon! Looks Like Stagflation Is Already Here
I & I Editorial Board
October 13, 2021

On the same day the International Monetary Fund cut its growth forecast for the U.S. economy, Atlanta Federal Reserve President Raphael Bostic warned that the “transitory” bout of inflation “won’t be brief.” How do you spell stagflation? B-i-d-e-n-o-m-i-c-s.

The IMF report, released Tuesday, has the international organization lowering growth globally by a 10th of a percentage point and for the U.S. by a full percentage point.

That’s just the latest sign that the economy isn’t building back better under Biden. It might not be building back at all.

Take a look at the GDPNow estimate produced by Bostic’s Atlanta Fed. Basically, GDPNow tries to calculate the current quarter’s GDP in real time by tracking data that the Commerce Department uses to compile the official GDP number — which won’t come out until a month after the quarter has ended.

As a result, the “nowcast” can change as new data emerge. Look what’s happened in the third quarter. The first GDPNow estimate, produced in late July, had growth topping 6%. That’s where it stayed until late August. But then a flood of new data came out showing the economy had sharply decelerated. The “nowcast” suddenly dropped to below 3% growth.

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https://issuesinsights.com/2021/10/13/lets-go-brandon-looks-like-stagflation-is-already-here/

[Kamaji]

Jimmy would be so proud of his protoge.

[Wingnut]

I just put a down payment on my Christmas Rib Roast. 

Also I hear Alpo with hot sauce is quite tasty as a pâté.   

[skeeter]

I just put a down payment on my Christmas Rib Roast. 

Also I hear Alpo with hot sauce is quite tasty as a pâté.

I'm laying in plenty of kibble and Keystone Light for the Super Bowl.

[Wingnut]

I'm laying in plenty of kibble and Keystone Light for the Super Bowl.

Ah the good stuff, 'Stones. Too rich for my blood.  I'm hoping Natty Light drops to $1.99 fo a six pack so I can have taste.

[GtHawk]

I just put a down payment on my Christmas Rib Roast. 

Also I hear Alpo with hot sauce is quite tasty as a pâté.

I guess you haven't paying attention to the price of dog and cat food, pretty soon it'll be purchased on the installment plan too. A small can of Pedigree cost me about .79 at Wally's the start of the year but now nine months into the Biden plan it's $1.19. Unless I buy it at the grocery store, then I can add another .30 t0 .40 cents. It's so bad I am thinking about claiming my dog as a dependent when I file taxes.

[christian]

Inflation was warned of for a long time now,now that its effects are devastating, people are finally ready to quite denying and bawl their eyes out.  As expected once its too late, their denial ends and people are concerned, because its too damned late to do anything about it!  By the way, invest in powdered gravy, it will at least let you choke down some of what you are forced to endure.  Insisting one going down lifes hard road esp with denial,is not without its nasty consequences.

[libertybele]

Inflation was warned of for a long time now,now that its effects are devastating, people are finally ready to quite denying and bawl their eyes out.  As expected once its too late, their denial ends and people are concerned, because its too damned late to do anything about it!  By the way, invest in powdered gravy, it will at least let you choke down some of what you are forced to endure.  Insisting one going down lifes hard road esp with denial,is not without its nasty consequences.

Powdered gravy --- I was finally able to get a few packages -- something that the stores around here have been out of.

Let's Go Brandon!!!!! 

I have taken out a loan to buy our turkey yet for Thanksgiving -- none to be found.  I was told that they should be in, in a couple of weeks.

Let's Go Brandon!!!

@christian  You are correct the azzhats are taking a look around scratching their heads; yes it's way way too darn late.

[skeeter]

Inflation was warned of for a long time now,now that its effects are devastating, people are finally ready to quite denying and bawl their eyes out.  As expected once its too late, their denial ends and people are concerned, because its too damned late to do anything about it!  By the way, invest in powdered gravy, it will at least let you choke down some of what you are forced to endure.  Insisting one going down lifes hard road esp with denial,is not without its nasty consequences.

As much as I hate to see it happen myself, I think a good dose of economic reality ala the Carter years might do the millennials & Xers a bit of good. They've never known anything but Trickle Down good times.

Might help explain some of those questions they had nagging at them in college but were afraid to ask.

[berdie]

Powdered gravy --- I was finally able to get a few packages -- something that the stores around here have been out of.

Let's Go Brandon!!!!! 

I have taken out a loan to buy our turkey yet for Thanksgiving -- none to be found.  I was told that they should be in, in a couple of weeks.

Let's Go Brandon!!!

@christian  You are correct the azzhats are taking a look around scratching their heads; yes it's way way too darn late.

I'll gladly trade you Tuesday for gravy mix....for a couple of cans of chick peas. Why the heck there is a shortage of chick peas evades my tiny mind.

[christian]

My brothers OCD wife has been trying to survive on chickpeas for years now, she brags about how much money she saves by doing that.  My brothers opinion on that, not fit to print!