WASHINGTON, DC – There are more worrisome indicators that the U.S. is going to experience even higher inflation and more product shortages on top of what is currently happening in the domestic economy.
Different segments of the U.S. economy are giving insight into how inflation appears to be still increasing.
U.S. inflation is at a 40 year high.— Errol Webber (@ErrolWebber) December 14, 2021
Makes you wonder if Joe Biden is doing this on purpose.
Market Watch reported:
“U.S. inflation hit a 39-year high in November, according to government data, with consumer prices rising 6.8% in November, as compared to the same month in 2020.
“This is the fastest rise in consumer prices since 1982, and November was the sixth consecutive month that inflation was over 5%.”
The National Federation of Independent Business indicated that a net 59 percent of small-business owners increased prices of goods and services last month, which was the highest figure since 1978, according to another report by Market Watch.
Energy prices are skyrocketing and inflation is out of control!— Senator Ted Cruz (@SenTedCruz) October 14, 2021
Joe Biden and Kamala Harris are failing the American people. pic.twitter.com/bd7krgl0gO
Market Watch reported:
“Small and large businesses alike are coping with major shortages of labor and business supplies that emerged during the pandemic.
“They are paying higher wages and material costs and passing them along to their customers.
“The cost of living jumped again in November and pushed the rate of U.S. inflation to a 39-year high of 6.8%.”
According to a report by Breitbart, supply chain and wholesale inflation has reached 26.5 percent, which is the highest since 1974.
Breitbart’s report focused on goods that are processed by U.S. manufacturers and then sold to other businesses, such as an appliance manufacturer selling to a retailer or a software maker selling to a digital game store.
According to its report, prices are up by more than 26 percent.
The shocking number is derived by looking at the Producer Price Index (PPI), which records prices received by domestic businesses for “final demand” goods and services; those that are sold to households and governments; exported; or offered to businesses as capital investments.
Joe Biden & the Democrats are clueless. Raging inflation caused by their reckless spending is forcing folks on low & fixed-income to make a choice: put gas in their tank or feed their family. It’s time Democrats put party politics aside & stop their disastrous policies. pic.twitter.com/jqNr9x024j— Rick Scott (@SenRickScott) December 14, 2021
Breitbart noted the PPI closely resembles the more-familiar Consumer Price Index, which measures prices paid by consumers and, unlike the PPI, includes imported goods:
“The PPI report also measures goods sold for ‘intermediate demand,’ those sold from one business to another along the chain of production of goods and services.
Thank you, Brandon!— Nelson Madruga (@madrugacachon) December 12, 2021
“When a manufacturer of appliances sells to a retail store, that gets counted in the intermediate demand category, while the sale of the appliance to the household sector is final demand (and also gets counted in the CPI gauge).
“Services are also sold into the market for ‘intermediate demand.’ Corporate lawyers, consultants, advertising, and investment bankers are examples of business-to-business services.”
WH staff fail to play Biden off the stage as he decides to answer a question about inflation pic.twitter.com/G9bvHsNm4N— Charlie Spiering (@charliespiering) December 10, 2021
The benefit of looking at the PPI report is that it provides transparency into how prices are working their way through the domestic economy. The report focuses on domestic producers and excludes importers.
While intermediate PPI changes cannot directly predict changes to consumer prices, early-stage production prices tend to be a better indicator of how final-stage production prices will be affected.
Inflation, crime in the streets, and illegal immigration are through the roof under Joe Biden — and American families are suffering the consequences. @foxandfriends@SenatorHagerty@LawrenceBJones3 pic.twitter.com/UAN77vPWho— Sen. Marsha Blackburn (@MarshaBlackburn) December 10, 2021
“Often when inflation builds up in the intermediate stage, it flows through to the final demand stage later as companies seek to pass along price increases.
“Alternatively, when production becomes too costly, businesses can cut back on production, which can lead to shortages or higher prices.
“But unless consumers are willing and able to pay more, it’s often difficult for businesses to pass along increased costs, resulting in smaller profits.”
Yeah, the country got a used car and it's a clunker.— MajorNuisance (@NuisanceMajor) December 10, 2021
Analyzing the yearly PPI numbers that were sourced from the U.S. Bureau of Labor Statistics, Breitbart reported that current prices for intermediate processed goods went up 26.5 percent, which is the largest 12-month increase since December 1974, when the index rose 28.9 percent.
Watch Biden economic adviser making excuses to largest inflation spike in 39 years.— Wyn XVII (@PatriotWynIV) December 10, 2021
*unemployed insurance claim low because they're disqualified for extended unemployment. There are 7 million still unemployed. Pay for people staying home is Not economic activities.#FJBiden pic.twitter.com/0yopCIHSTV
Noting how widespread U.S. inflation is, Breitbart reported some statistics:
“Prices for materials and components for manufacturing are up 42 percent year over year.
“Materials for durable goods manufacturing saw their prices jump 59.8 percent.
“Prices on components for durable goods rose 9.7 percent. Nondurable materials were up 36.2 percent and components 19.5 percent.
“The construction industry is being hit by much higher costs. Materials prices are up 13.5 percent Component prices are up 27.1 percent.
“Inflation is running even hotter in unprocessed goods, which includes crude oil, grains, iron and steel, and other raw materials.
“Prices rose 4.8 percent in November and are up 52.5 percent over 12-months.
“Over 80 percent of that is energy prices. If you subtract energy prices, unprocessed goods for intermediate demand saw prices rise 21.8 percent.”
Trump slams Biden for skyrocketing inflation: "We're not doing well." pic.twitter.com/zwLrUvpIg8— The Post Millennial (@TPostMillennial) December 11, 2021
Within the intermediate demand category, which gets broken down into four stages of production, the fourth wholesale level showed the price of goods went up, according to the report:
“At the wholesale level, the price of goods was up 1.4 percent in November and 17.5 percent year-over-year. Excluding food and energy, prices were up 16.1 percent.
“At stage three, goods prices were up 33.6 percent over the 12-month window and 34.6 percent once you exclude food and energy.
“At stage two, goods prices are up 57.3 percent annually. Once food and energy is subtracted, prices here are up 28.7 percent.
“At stage one, goods prices are up 33.2 percent annually and 29.4 percent excluding food and energy.”
Virginia Latino voter: “Biden turned me into a Republican. Biden is destroying the economy, inflation is through the roof, and everything is terrible." pic.twitter.com/Q9cveU5jYk— RNC Research (@RNCResearch) December 10, 2021
Massive spending agendas by the Biden administration are also worsening inflation.
Dinesh D’Souza tweeted his concerns:
“The terror of inflation isn’t merely that it’s a hidden tax or that it corrodes both our incomes and our earnings.
“It’s also that the Biden administration regards government spending and printing money–the two causes of inflation–as the solution to inflation.”
The terror of inflation isn't merely that it's a hidden tax or that it corrodes both our incomes and our earnings. It's also that the Biden administration regards government spending and printing money–the two causes of inflation–as the solution to inflation. pic.twitter.com/e5o69iS3yu— Dinesh D'Souza (@DineshDSouza) December 14, 2021
Rep. Byron Donalds (R-FL) agreed that Biden’s spending agendas are making inflation worse, but that Democrats don’t help the situation because they refuse to question the president’s plans.
I have also been hearing Democrats say that the economy is doing great and their evidence is “increased consumer spending“. They don’t seem to realize that when there is skyrocketing inflation consumer spending increases because people spend more to buy the same amount of goods— John Burwell (@JohnBurwell17) December 15, 2021
Donalds told the John Solomon Reports podcast on Tuesday’s episode that “the majority in Congress doesn’t want to have this conversation” on inflation. He further said:
“Nancy Pelosi doesn’t want to talk about it, but you have virtually every Republican member — and I’ll tell you, there’s even some rank-and-file Dems who want to have this conversation — but we’re all blocked by Nancy Pelosi.
“So it’s left to having this conversation in news interviews and in media.”
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Donalds also said some Democrats blame Biden for U.S. inflation, but vote for his spending agendas anyway:
“[W]e’re much more verbose on our side of the aisle about talking about it.
“The Dems don’t want to talk about it because it’s Joe Biden’s fault. Even they know it.
“They tell us quietly on the side, like, ‘Man, this additional spending is crazy,’ but they vote for it.
“And they vote for it because they can’t win elections without the support of Nancy Pelosi and the Democrat Party — they’ll lose.”
Not surprisingly, Donalds also said that there are “too many people in Washington, D.C. that have no idea how an economy actually works.”
Last month, a Bloomberg reporter asked Vice President Kamala Harris how she would “fix this problem with inflation.”
As the VP of the United States in America how can you not be prepared and anticipate this question given the state of our current economy? Something tells me she was prepared to answer how we can make our military more woke (weak).— David Will (@dajuwill) November 29, 2021
Nodding her head affirmatively, Harris struggled with an answer.
Occasionally looking down at her notes, Harris acknowledged the reality of inflation and said in part:
“Thank you. Well, let’s start with this.
“Prices have gone up, and families and individuals are dealing with the realities of, of, that bread costs more, that gas costs more.
“And we have to understand what that means. That’s about the cost of living going up.
“That’s about having to stress and stretch limited resources.
“That’s about a source of stress for families that is not only economic, but is on a daily level, something that is a heavy weight to carry.
“So, it is something that we take very seriously, very seriously.
“And we know from the history of this issue in the United States that when you see these prices go up, it has a direct impact on the quality of life for all people in our country.
“So, it’s a big issue and we take it seriously.”
“But there is also a point that is important to make on the Build Back Better framework.
“One, it is designed to make it less expensive for working people to live.
“It was specifically designed to bring down the costs of child care and increase accessibility and availability, designed to bring down the cost of elder care and make it available to all those working families that need that support and need that help.
“And Build Back Better is not going to cost anything. We’re paying for it.”
Surprisingly, no laughter.— Bill Fleming (@WDFleming) November 24, 2021
During an interview with ABC News’ George Stephanopoulos, Harris said:
“When you look at the numbers, the whole point about inflation and why it hurts us is because prices go up. With the Build Back Better agenda it’s going to bring the costs down.”
Wow! Really? – Kamala Harris Explains to Stephanopoulos ‘Whole Point About Inflation is Prices Go Up’ pic.twitter.com/5wmMLzaZzB— Alexandra Datig | Front Page Index (@alexdatig) November 18, 2021
Jen Psaki explained that inflation is being fueled by greed. In particular, she blamed increases in meat prices on “the greed of meat conglomerates.”
Jen Psaki blames increases in meat prices on "the greed of meat conglomerates." pic.twitter.com/NlSXwIcUTP— Townhall.com (@townhallcom) December 14, 2021
Biden simply blamed COVID-19 for his historic inflation, saying:
“The reason for the inflation is that we have a supply chain problem that is really severe and it’s causing a significant increase in prices in things that in fact are hard to get access to because at the bottom, the bottom of all, is COVID.”
I was told by @CNBC this is the strongest economy. Why deflect?— OnlyReadHeadlines (@JeepHokie23) December 10, 2021
COVID-19’s party-dampening power was also recently on Biden’s mind.
Biden lamented that the Democrats’ holiday party this year could not be held at the White House as is customary.
The president blamed unnamed people who were either unvaccinated and only partially vaccinated for the inability of the administration to host a party at the White House.
Biden says his "one serious regret" is the location of the DNC holiday party.— RNC Research (@RNCResearch) December 15, 2021
No mention of the border, Afghanistan, inflation, or the supply chain crisis. pic.twitter.com/KkkOR1lH9s
Biden expressed confidence that next year’s holiday party would be held at the White House.
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