"Official Inflation" numbers set to hit today.. What you got? My guess 6.9%

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According to Axios, the White House - or at least those who are feeding lines to the so-called president - are bracing for a "brutal" inflation report.

• WHITE HOUSE BRACES FOR BRUTAL INFLATION REPORT - AXIOS

While it remains to be seen if the CPI report is "brutal", the damage has already been done - here is a snapshot of key price changes in the past year, courtesy of Bank of America:

• price of basic human needs such as food, heat, shelter soaring; global food prices up 27% YoY;
• US heating costs up: 30% for natural gas, 43% for oil, 54% for propane;
• US rents up 12%,
• house prices 18%
• lumber prices up 40% past 4 months

Here is what consensus expects: according to economists, the consumer price index (CPI) increased 0.4% in December, bringing the year-ago inflation rate up from 6.8% to 7.0%, which will be the highest headline print since June 1982 when the Fed Funds rate was in the double digits.



https://www.zerohedge.com/markets/what-expect-tomorrows-brutal-inflation-report

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Too damn high. FJB.

Socialists will rejoice because they literally hate America.

I would not be surprised to see it drop. Not because it really dropped, it certainly did not, but because the Dems are liars. Dems run the agencies. Kind of like how UE dropped below 8% right before Obama's reelection only to later find it it was false!

They might even revise the calculation, like Obama did for GDP since he sucked.

this part

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30% for natural gas

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makes me happy. The libs in the NE are paying though the nose. I hope the winter up there is extremely brutal!

You can bet the farm it will be tempered somehow. I'd like to know exactly how they derive their numbers. While something essential may have shot up 50%, they'll temper it with "Widgets just went up 4%" so the average doesn't look as damaging.

This crap is getting bad.

7%

https://www.foxbusiness.com/economy/december-inflation-consumer-price-index

Thanks Biden. I mean... Let's Go Brandon!

let me add to your post so the libs can read it and rejoice:

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Inflation surges 7% in December, highest rate in 40 years

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I wonder if the news about inflation will be more "expected" this time around. Looks like they've changed how they are going to weight inflation starting this month.

They can fool sheep with their BS, but grocery stores can't. Rent going up won't fool them.

When the FED raises rates...

"It's a mess ain't it Sherriff?

"If it ain't, it'll do till the mess gets here."

nothing to see here

move along

Yet interest rates remain the same, the Fed continues printing money (QE), etc...

Never before have we taken this approach when inflation is running wild like this.

"Donald Trump partly to blame."

"Republicans in congress are blocking measures to help the economy"

"Inflation is racist."

"The White House has requested emergency authority take necessary steps to help...."

"Unexpectedly"

Just a few phrases/words I expect to read.

Marcus Brutus said:

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Yet interest rates remain the same, the Fed continues printing money (QE), etc...

Never before have we taken this approach when inflation is running wild like this.

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But, it's transitory!

fixer said:

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When the FED raises rates...

"It's a mess ain't it Sherriff?

"If it ain't, it'll do thill the mess gets here."

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They are going to raise the rates like .25% each quarter or something like that. It won't make a dent in inflation. They are going to need to go Volker and raise it 20% (well above current inflation rates) if they want a chance.

That's when the mess will get here.

aTmAg said:

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fixer said:

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When the FED raises rates...

"It's a mess ain't it Sherriff?

"If it ain't, it'll do thill the mess gets here."

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They are going to raise the rates like .25% each quarter or something like that. It won't make a dent in inflation. They are going to need to go Volker and raise it 20% (well above current inflation rates) if they want a chance.

That's when the mess will get here.

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Exactly.

aTmAg said:

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fixer said:

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When the FED raises rates...

"It's a mess ain't it Sherriff?

"If it ain't, it'll do thill the mess gets here."

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They are going to raise the rates like .25% each quarter or something like that. It won't make a dent in inflation. They are going to need to go Volker and raise it 20% (well above current inflation rates) if they want a chance.

That's when the mess will get here.

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yep...that is what I was trying to be funny about.

7.3

FJB

Inflation rises 7% over the past year, highest since 1982

https://www.cnbc.com/2022/01/12/cpi-december-2021-.html

BREAKING Government Report:

Inflation up 7% year over year

Highest since 1982

(interfering political stat - in 1982 Biden had already been in the Senate a decade)

— Sean Spicer (@seanspicer) January 12, 2022

aTmAg said:

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fixer said:

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When the FED raises rates...

"It's a mess ain't it Sherriff?

"If it ain't, it'll do thill the mess gets here."

---

They are going to raise the rates like .25% each quarter or something like that. It won't make a dent in inflation. They are going to need to go Volker and raise it 20% (well above current inflation rates) if they want a chance.

That's when the mess will get here.

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May be time to buy a new truck now rather than wait. But my current one only has ~127k miles.

Hit pause on giant sectors of the economy, start injecting trillions, and then press go....

Eh... it has to be bottlenecks! Idiots.

evan_aggie said:

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Hit pause on giant sectors of the economy, start injecting trillions, and then press go....

Eh... it has to be bottlenecks! Idiots.

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They added over $1 trillion to the monetary base in 2021, despite this inflation. It should be criminal.

So when is my interest on CDs going up and my pass book savings account I leave in bank for them to use?
Inflation is supposed to help those with money in the bank, yet hurt borrowers- something those in charge won't tell the suffering masses.

fixer said:

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aTmAg said:

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fixer said:

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When the FED raises rates...

"It's a mess ain't it Sherriff?

"If it ain't, it'll do thill the mess gets here."

---

They are going to raise the rates like .25% each quarter or something like that. It won't make a dent in inflation. They are going to need to go Volker and raise it 20% (well above current inflation rates) if they want a chance.

That's when the mess will get here.

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yep...that is what I was trying to be funny about.

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Yeah... That was for people who think that because they mentioned raising rates in their minutes, that they are going to go hawkish all of the sudden. They aren't. "Half-ass" does not properly describe what they will to do. They are going to 2%-ass it and hope it fixes the problem. It won't. Then it will make the level they have to go to later even higher.

Remember: Keynesians have no idea what they are doing. They understand economics about as well as astrologers understand general relativity. Every economic problem we are experiencing today is because of their idiocy. And I cannot see Biden installing a monetarist like Volker or Austrian even if they threaten to take his bingo cards away.

Owlagdad said:

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So when is my interest on CDs going up and my pass book savings account I leave in bank for them to use?
Inflation is supposed to help those with money in the bank, yet hurt borrowers- something those in charge won't tell the suffering masses.

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Umm, no.

Inflation hurts savers and helps borrowers.

Yesterday Jerome Powell called our current debt trajectory unsustainable and talked about ending stimulus. Today, the Biden Administration is ignoring the 7% inflation rate and pushing for more spending. Top. Men. https://t.co/6QGvMItSga

— Ben Shapiro (@benshapiro) January 12, 2022

Meanwhile Biden is gonna make the money printer go brrrr

Marcus Brutus said:

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Yet interest rates remain the same, the Fed continues printing money (QE), etc...

Never before have we taken this approach when inflation is running wild like this.

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Isn't this Krugman's wet dream come true?

Captain Positivity said:

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BREAKING Government Report:

Inflation up 7% year over year

Highest since 1982

(interfering political stat - in 1982 Biden had already been in the Senate a decade)

— Sean Spicer (@seanspicer) January 12, 2022

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BTW, by 1982, Volker had already raised interest to over 19% to fight inflation. Our Fed still has them at 0% and are doing QE on top. It's like driving a car over a cliff and our Fed has not only kept it's food off the brake, it's pushing the gas to the floor.

Owlagdad said:

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So when is my interest on CDs going up and my pass book savings account I leave in bank for them to use?
Inflation is supposed to help those with money in the bank, yet hurt borrowers- something those in charge won't tell the suffering masses.

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You've got it backwards. Inflation penalizes depositors (the value of their deposit shrinks and interest on their deposits never keeps pace with inflation) and rewards borrowers (the amount they owe stays the same, but the dollars they pay it with become "cheaper," at least for those with fixed rate loans the predate the onset of inflations--borrowing during an inflationary period, on the other hand, can be ruinous)..

Yeah inflation is good for debtors and bad for creditors. Guess who is the largest debtor in world history?

The USG.

twk said:

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Owlagdad said:

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So when is my interest on CDs going up and my pass book savings account I leave in bank for them to use?
Inflation is supposed to help those with money in the bank, yet hurt borrowers- something those in charge won't tell the suffering masses.

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You've got it backwards. Inflation penalizes depositors (the value of their deposit shrinks and interest on their deposits never keeps pace with inflation) and rewards borrowers (the amount they owe stays the same, but the dollars they pay it with become "cheaper," at least for those with fixed rate loans the predate the onset of inflations--borrowing during an inflationary period, on the other hand, can be ruinous)..

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Exactly, you want to borrow as much as possible when inflation is high. We're getting killed on deposit and investment accounts.

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US Consumer Prices Soar At Fastest In 39 Years, Real Wages Tumble For 9th Straight Month

Consensus was convinced - with barely any outliers - that this morning's consumer price index would print with an astonishing 7.0% YoY (and notably 7 of the last 9 releases have come in above consensus) and they nailed it with the 7% print at its highest since June 1982 (when ET was launched in the US)...

?itok=WQ03jlbs

https://www.zerohedge.com/personal-finance/us-consumer-prices-soar-fastest-39-years-real-wages-tumble-9th-straight-month

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7.0% - It's almost like the FED wants it to get out of hand..... Just wait until March when it hits double digits and Biden and Dems starts calling for price controls on food and energy. It's what all failed governments do.


BTW - Watch the shift in messaging away from Covid toward the economy. And if you own those Big Pharma stocks you might want to sell or short them and roll the profits into commodities.