Inflation

Give him an inch

Featured image I would be embarrassed to conduct an interview with the president that was as lame as Scott Pelley’s lovefest with President Biden on 60 Minutes last night. The Biden administration accorded Pelley a substantial amount of time to chat with Biden and Pelley returned the favor with a variety of softballs and dropped balls as well as his own apologetics — to no one’s surprise, of course, but still. It »

Party on, Joe

Featured image President Biden threw a party at the White House to celebrate the absurdly named Inflation Reduction Act on Tuesday. I noted it in “KJP on the IRA.” Asked to explain what the IRA would do to moderate inflation, White House press secretary Karine Jean-Pierre responded in word that, when translated, indicated it would do nothing. House Speaker Nancy Pelosi attended the party, as did Senate Majority Leader Chuck Schumer. Byron »

KJP on the IRA

Featured image The White House celebrated the passage of the bizarrely named Inflation (tax, spending, climate) bill yesterday. President Biden spoke at excruciating length on the White House lawn. He had the crowd yearning for an encore by Nancy Pelosi, or even James Taylor. Opening with “What a great, great crowd,” Biden may have succeeded in avoiding the utterance of a true statement in his entire spiel. The White House has posted »

I’ve Seen Gaslighting and I’ve Seen the Stock Market Tank

Featured image The Dow was down 1,276 points today, or 4%. Why? The August inflation number came in worse than expected: The new data showed the consumer-price index rose 8.3% in August from the same month a year ago. That was down from 8.5% in July and 9.1% in June—the highest inflation rate in four decades. But on a month-to-month basis, the figures showed inflation accelerating in August, dashing investors’ hopes that »

Reduce this

Featured image The Sunday morning gabfests have become an embarrassment of cliché and vacuity. The talking heads account for the embarrassment. The Biden administration officials account for the vacuity. Energy Secretary Jennifer Granholm is a case in point. She appeared on FOX News Sunday yesterday touting the freebies and subsidies available under the terms of the absurdly named Inflation Reduction Act. Reduce this! FOX News has posted video of the segment in »

From zero to Nero, media edition

Featured image Drawing on this week’s BLS report on the Consumer Price Index, President Biden and his flacks promoted the idea that inflation had dramatically fallen to 0 percent last month. I noted the administration’s 0 percent chorus here yesterday. Is it too late to cancel the destructive monstrosity moving through Congress under the misnomer of the Inflation Reduction Act? That is one question the Democrat media adjunct failed to raise as »

Reduction ad absurdum

Featured image The political news of the day is the passage of the shove-it-down-your-throat absurdity of the Inflation Reduction Act. What this country needs is a vastly expanded Internal Revenue Service! (said no sane man or woman ever). Adding to the insufferable stupidity and deceit of the bill’s provisions is the insufferable stupidity and deceit of the media coverage of the bill itself. Feel the excitement coursing through Politico Playbook’s “How it »

It’s a long way to temporary

Featured image The Free Beacon has compiled the video below to commemorate the one-year anniversary of President Biden’s dismissal of inflation as “temporary.” It’s a long way to temporary. The Free Beacon prefaces the video with a summary by Andrew Stiles: Exactly one year ago today, on July 19, 2021, President Joe Biden delivered a momentous address on the state of the U.S. economy. The speech, in retrospect, was a chilling portent »

Producer price inflation hits 11.3 percent

Featured image Wholesale prices shot up 11.3 percent for the year ended in June according to the producer price data released today by the Bureau of Labor Statistics. The BLS Producer Price Indexes home page is posted here. The BLS press release on today’s data is posted here. The BLS press release usefully breaks down the sources of the increase. On a monthly basis the index rose 1.1 percent in June. CNBC’s »

Inflation hits 9.1 percent

Featured image Inflation hit a new four-decade high in June as prices rose 9.1 percent from last year — 1.3 percent from the prior month — according to the data released by the Bureau of Labor Statistics this morning. The BLS’s “all items index increased 9.1 percent for the 12 months ending June, the largest 12-month increase since the period ending November 1981.” I put it this way: We see it everywhere »

Hauteur with a twist of deceit

Featured image Miranda Devine paused to take in the wisdom of Biden’s National Economic Council Director Brian Deese in her New York Post column this past Sunday: If you had the unpleasant experience this July Fourth weekend of paying close to $5 for a gallon of gas, you can always comfort yourself with the idea that your pain is for a good cause: the “liberal world order.” So said Brian Deese, White »

Yellen about stupidity

Featured image The venerable office of Secretary of the Treasury goes back to Alexander Hamilton. Looking over the roster of former Secretaries, one can observe that it has rarely been held by lightweights or hacks. Janet Yellen makes a mockery of the office. She degrades the office in performing its responsibilities poorly and ranging far afield to parrot the shibboleths and follies of the Biden administration like a Stalinist apparatchik. Yesterday Yellen »

The upside of inflation

Featured image You probably missed the New York Times column last week exploring the upside of inflation. Understanding what Democrats and their supporters need to hear right now, the Times delivered Annaliese Griffin’s op-ed column “You Want to Buy Meat? In This Economy?” Like a bad cold contracted by a cigarette smoker, inflation presents a good opportunity to lose a bad habit. Griffin observes: “Meat, poultry, fish and eggs now cost 14.3 »

Oops, Never Mind

Featured image On Tuesday, Treasury Secretary Janet Yellen admitted that she was wrong when she said, last year, that she didn’t expect inflation to be much of a problem: "It wasn't just the president who got it wrong." After spending MONTHS insisting it was merely "transitory," Biden Treasury Secretary Janet Yellen finally admits they were WRONG to downplay inflation. pic.twitter.com/IlJMvQsbrU — RNC Research (@RNCResearch) May 31, 2022 Of course, Yellen’s mea culpa »

Doocy’s brain teaser: The transcript

Featured image The White House has posted the transcript of new press secretary Karine Jean-Pierre’s briefing yesterday. I posted a video clip of Peter Doocy’s “brain teaser” of a question along with the nonanswer Jean-Pierre read in the adjacent post before the transcript was available. The transcript lets us widen the focus to the entire exchange. The view afforded by the widened focus is even worse than the single exchange in the »

Peter Doocy poses brain teaser

Featured image Joe Biden has advocated raising corporate taxes to “bring down inflation.” Not some idiotic departmental secretary, but the superannuated dunce himself. Even Jeff Bezos isn’t buying that one. Indeed, as John noted, he’s hooting in derision. The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. »

Ultra LAME

Featured image Earlier this week I quoted from President Biden’s May 10 remarks on the economy (correction in transcript): “Senator Rick Scott of Wisconsin [Florida], a member of the Senate Republican leadership, laid it all out in a plan. It’s the Ultra-MAGA Agenda.” If you wondered whence the “Ultra-MAGA” shtick suddenly materialized, as I have, Washington Post reporters Ashley Parker and Michael Scherer have arrived with the answer. You had to know »