⚠️BREAKING⚠️
Inflation, CPI, comes at 9.1%, estimated 8.8%.
— unusual_whales (@unusual_whales) July 13, 2022
Live discussion here.
US Bureau of Labor Statistics news release.
Election Wizard – If the official government numbers show inflation is at 9.1%, that means the real numbers are likely just shy of 20% now. Shadow Stats showed the real inflation for May 2022 at 16.81%.
Stocks might drop like a hatch opened Russian SUBMARINE.
Not Joe Bidens fault,
It’s Putin Stock Shock.
Hundreds of Thousands of new cars waiting for Chinese computer chips.
Some of Last year’s food harvest still on Grocery shelves, then what ?
Mass Hysteria !
Doesn’t sound very funny anymore.
Then what? We get repeats of what just happened in Sri Lanka.
This is going to get deadly serious before too much longer. Western countries have been partying on outsourcing & cheap debt for so long that they don’t know what the hell else to do. Now the bill is coming due. This is shaping up to be akin to the 1930s. Depression, inflation to hyperinflation, societal upheavals, governments falling, and then … ???
The real big problem is that there isn’t nearly as much fossil fuel left to exploit on the other side of this mess, as there was in the 30s. Energy is going to be harder to come by and more expensive. It really does not bode well for the future of modern civilization. I don’t know how long we have left; I hope my children will get through it.
hmmm.
Seems to me that Alberta has P L E N T Y of oil in the Ground…cpl of thousand years worth….given the oil sands are at best only 3-4% utilized.
Ralph was 1000% Bang on with his: “Let them Eastern Bastards Freeze in the Dark”
Long overdue we left this ShitStain of some supposed CON-federation.
WEXIT – Stat.
At what energy return on energy input? I suspect the “couple thousand years” figure is grossly inflated. At some point, the oil that’s left in the ground will become so difficult to extract that it returns insufficient surplus energy, therefore it makes no sense to extract it at any price. Thermodynamics is an unforgiving master that way.
I freely admit I don’t know what that point in time is, but from my readings, I fear that point is a lot, lot closer in time than any of us would like. As in, within the 21st century if not sooner.
I.M.:
When the oil price is high, a lot of formations that were abandoned earlier become attractive prospects.
When there’s insufficient pressure to force it out of the ground, and pump jacks can’t bring out enough, there are other methods to get it. Gas and miscible flooding wash out much of what’s still remaining in the rock and many older fields were able to produce well past their estimated lifetimes because of that.
In addition, one could use a mild acide to open up the porosities in a formation to get the oil to flow easier. Fracturing can accomplish much the same thing.
Also, when I was in the oil business more than 40 years ago, nobody even talked about horizontal drilling. Formations that were located in difficult terrain are now accessible because of that.
It all depends on how much effort one wants to make and the corresponding financial return.
It’s all the greedy store owners just trying to gouge the every day middle class americans. Food processors, laughing all the way to the bank. And those gas station owners….
This inflation problem would just go right away if all these people would just lower their prices. Duh.
It’s time for price constraints. Once the government steps and sets reasonable prices that people can charge for all these things, all these problems will go away, I’m sure.
And then, out of nowhere, Government rationing of food items and consumer goods appeared…
Stand in line with your booklet, peasant, and you’ll take what we give you.
You forgot,
EVERYONE will be HAPPY
Fearless
….And own not a damned thing…
Reply to Brandon Galt.
And With the Wokeness ADULTS we have in Government,
PERFECT STORMS !
You forgot your /sarc tag.
Economist and Nobel laureate Paul Krugman says today’s inflation number is “out of date” because it hasn’t factored in falling gas prices and other indicators that have gone in reverse.
Good Grief! Someone make him stop.
Paul Krugman: Always wrong but never in doubt
Ah, but his errors have credibility because Krugman got a–ta da!–Nobel Prize……
That says more about the cereal box top prize nature of the Nobel than anything else.
Emergency National Oil Reserves.
1 million barrels sold to Hunter Biden investment Chinese Firm.
When will the Biden Criminal Family start selling our Food Supplies ?
And in a move that will not quell manufactured inflation in any way, BOC raises by a full point.
Does anyone believe that governments have the ability, discipline, or will at the moment to break the feedback loop that we are in, and cut spending, and stop printing paper?
Help me out here….we all know that the gov’t inflation stats, like the gov’t unemployment stats, are fake. They are deliberate lies to make the gov’t of the day look better than it should.
Ok – the fake unemployment % is easy to explain – they only count the people who are actively looking for work as unemployed. Those who are not looking for work are not included, and in some communities that can be half the population.
But how exactly are they coming up with these totally false inflation numbers? Housing has doubled in 7 years, energy has almost doubled in the past year, and food is up at least 20%, probably more. Those are the 3 things that consume most of our income, and they sure don’t add up to 8 or 9% inflation.
How does the gov’t tweak or omit items to pander out these completely unrealistic inflation numbers? Anybody?
Stats Can tweaks the “basket of goods and services” that is used to generate inflation numbers (lies, damned lies and statistics comes to mind) and most people are not aware of the changes being made. The average grocery shopper is painfully aware that the government is blatantly lying. You have to do some digging to make a proper comparison between current and past stats and the methods used to create both.
As a retired person on a fixed income, the necessities that I MUST have to live have gone up between 25% and 100%!
Most of the items in the basket used to determine the inflation rate are not necessary to live.
The media is always soft pedalling inflation numbers in Canada. Yesterday I heard (on a Bell radio station) an “expert” from one of Justin’s big five banks say inflation was 8% in the US and 5% in Canada. Pushing the notion that at least we are doing better than those awful Yanks, which Canadian Covidians love to hear. If anyone really thinks inflation is at 5% here I’ve got some Fraser Valley swampland to sell them.
My wife is flying up to the cottage next week. Vancouver to Penticton one way.
Flight 131.50
Security surcharge 7.12
Fuel surcharge 20.00
Nav Canada fee 17.00
Seat assignment 8.00
1st checked bag 30.00
carbon surcharge 9.60
Total GST 11.17
New total 234.39 (An increase of 78%)
Is it possible that our government is the source of all of our problems?
I told her to enjoy herself this year because the cottage – along with almost everything else – is going on the block over the next year. I am (we are) moving out of Canada. I will be 83 in Sept. God willing, by my 84th I will be living in another country.
“Is it possible that our government is the source of all of our problems?”
“Government is not the solution, government is the problem.” – Ronald Regan