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Producer Prices Skyrocket Over 7% as Biden Policies Take Hold

Tell your wallets to buckle up, folks…it could be a bumpy ride.

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One of the greatest fears that Republicans had in 2020 was the idea that someone with less business sense than Donald Trump would be unable to handle the power of his administration’s economic policy.

Trump, a mogul in every sense of the word, had America pumping out the prosperity, seeing record highs on the stock market throughout his presidency, and then overseeing one of the most turbocharged fiscal recoveries of all time as the coronavirus pandemic waned.

But now, just as the nation started to hum back to life, the Biden administration has arrived to throw cold water on the whole thing.

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Prices received by U.S. businesses for goods and services rose by much more than expected in June, the Labor Department reported Tuesday.

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The Producer Price Index rose 7.3 percent in June from 12 months earlier, the largest demand since 12-month data were first introduced in 2010. Compared with May, the index rose one percent. On average, this index rose by around 0.2 percent per month in the pre-pandemic Trump administration.

Economists had been expecting an increase of 0.6 percent, below the 0.8 percent initially reported for May. On a 12-month basis, the consensus forecast was for 6.8 percent.

And, as much as the left wants everyone to stop using “the ‘I’ word”, there is no beating around the bush anymore:

The Producer Price Index is an alternative gauge of inflation. It actually predates the better-known Consumer Price Index. First published in 1902, it is the oldest continuous statistical series of the U.S. government. The index used to be known as the Wholesale Price Index, a somewhat misleading name since it was never focused on wholesale prices. Because of changes in what gets counted, however, the headline “final demand” PPI data only dates back to around 2010 after a 2014 overhaul meant to update the index to better reflect the modern economy.

Tell your wallets to buckle up, folks…it could be a bumpy ride.

Opinion

Liz Cheney Takes Aim at Trump During Opening Statement at Jan 6 Hearing

She’s still claiming this is “nonpartisan”, however.

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The Republican Party has made it very clear that they are not interested in any sort of re-trial of Donald Trump in regard to the events of January 6th, and that any attempt to steer an investigation his direction would be considered bit of partisan tomfoolery on behalf of those who engage in such speculation. Therein lies the problem for the Nancy Pelosi-led special committee on January 6th, in that they can’t afford to be considered a partisan affair, but they are almost certainly itching for a chance to attack the former Commander in Chief. Liz Cheney, one of the few Republicans involved in the current probe, wasted no time in going there on Tuesday, however. “The American people deserve the full and open testimony of every person with knowledge of the planning and preparation for January 6th,” Cheney said in her opening statement. The Wyoming Republican has gone on record for criticizing her GOP colleagues for supporting the former president — whom many say incited his supporters to attack the Capitol — and undermining an investigation into the events of Jan. 6. She was voted out of her role as chair of the House Republican Conference in May as a result. And then… “We must also know what happened every minute of that day in the White House – every phone call, every conversation, every meeting leading up to, during, and after the attack. Honorable men and women have an obligation to step forward,” Cheney said. Tuesday’s hearing featured the testimony of a number of police officers who were involved in attempting to stop the insurrection that occurred that day, and set the tone for a heated and lengthy probe to come.

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Opinion

New York Governor Cuomo Ready to Go ‘Door to Door’ in Vaccine Push

Cuomo doesn’t know how to take “no” for an answer…just ask his multitude of sexual abuse accusers.

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New York Governor Andrew Cuomo is having a very hard time laying low in recent months, as he has been forced to fend off a number of earth-shattering scandals that should have seen his political career go up in flames. Yet, still, he persists, governing from the relative comfort of the governor’s mansion while scores of women detail sexual harassment and abuse by his hand, and as family members continue to grieve those who were lost on account of his imbecilic decisions during the early days of the coronavirus pandemic. But despite his obvious unworthiness as the Empire State’s top lawmaker, Cuomo continues to push controversial policies, including a number of militant new ideas regarding the coronavirus crisis. “I wear a mask because I care about you. I get a vaccine because I care about you,” Cuomo said, framing compliance to various methods of government coercion as an expression of selflessness. “We understand that we are all in this together. We understand that as goes one goes all in this city where we all live together and in this state where we all live together,” he continued. “We have to get back to work. We have to get back to work, and we have to get back to work now, and we have to spread this message or we’re going to spread the virus,” he said before specifically expressing the desire to knock on doors and drive unvaccinated people to get the jab. Then came the heavy suggestions. “And we have to get in those communities, and we have to knock on those doors, and we have to convince people, and put them in a car and drive them and get that vaccine in their arm. That is the mission,” the Democrat mayor said during Monday’s press conference, where he…

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