Over the past 12 months prices have risen 6.2%, according to a labor department report released on Wednesday. The rise was the largest since December 1990. Inflation increased by 0.9% in October, faster than September’s 0.4% and above economists’ expectations. The news comes as the Biden administration and the Federal Reserve have tried to downplay rising costs, arguing they are a temporary phenomena driven by Covid-19’s unprecedented impact on the global supply chain.
The increase was “broad-based, with increases in the indexes for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors”, the labor department said. “The energy index rose 4.8% over the month, as the gasoline index increased 6.1% and the other major energy component indexes also rose. The food index increased 0.9% as the index for food at home rose 1%.”Last week Fed chair Jerome Powell warned that inflation had been “longer lasting than anticipated”.
Powell said the Fed still expected recent price rises to be “transitory” but added that it was “very difficult to predict the persistence of supply constraints or their effects on inflation”. The latest reports show prices rising across the board with the cost of clothes, car parts, shelter, energy, food and lawn mowers all rising.
The energy index rose 30% over the last 12 months, a situation that is already proving difficult for poorer Americans already struggling to pay utility bills. The food index has increased 5.3% over the year. Part of the latest surge in prices was down to factors that may prove short-lived, economics forecaster Capital Economics wrote in a note to investors. US fuel prices surged in October but have since begun to fall and shortages of microprocessors and other parts are still contributing to a lack of inventory for car sellers that is driving up prices.
But Capital Economics also warned it was difficult to tell when these inflationary pressures would stabilize. “The bottom line is that, while it remains difficult to predict how far or for how long the various ‘transitory’ factors will boost inflation, there is increasing evidence that inflationary pressures are broadening out, underlining that inflation will remain elevated for much longer than Fed officials expect,” they wrote. US inflation rose to 30-year high in October, exceeding economists’ predictions (msn.com)
She’s an actual Soviet era communist Russian immigrant.
President Joe Biden’s nominee for a key Treasury Department role admitted that oil, natural gas and coal firms need to go bankrupt to prevent climate change, a resurfaced video showed. “Here what I’m thinking about is primarily the coal and oil and gas industry. A lot of the smaller players in that industry are going to probably go bankrupt in short order, at least we want them to go bankrupt if we want to tackle climate change,” Saule Omarova — who the Senate is considering to lead the Office of the Comptroller of the Currency — remarked in a clip uncovered Tuesday by the American Accountability Foundation (AAF), a conservative research group.
Key Biden Nominee On Oil Companies: ‘We Want Them To Go Bankrupt
If We Want To Tackle Climate Change’ | The Daily Wire
Biden Treasury nominee says we want the oil, gas, and coal industries
to go bankrupt – twitchy.com
When we tell you Democrats = Communists, we mean it literally. It actually says avowed Marxist on her bio! WTF is this administration doing?
She didn’t even emigrate by choice from the Soviet Union — she was in the US for school when that country crumbled. Guess she decided if the country she was going back to was no longer communist, she might as well just stay and try to make the US a “worker’s paradise”, instead.
I’m sure this will be entered as evidence by said companies in future trials. WTG, idiot.
You are just paving the way for lawsuits with discriminatory statements like that.
Don’t worry Mitch will confirm her with Lindsey Graham…Susan Collins and Lisa Murkawski will too. They take it as an affront when what is really meant is: Your party has been infiltrated and co-opted by literal communist operatives and sympathizers.
The “other” party is cooperating, too. So Americans who are Russian immigrants are all commies?
So American Italians are all Mussolini fascists? Certainly not all, but definitely this one. Those industries are responsible for MILLIONS of Americans’ paychecks. A communist who fled communism to push communism here. Like all the blue states who move to red states and still vote blue. Back when the US thought that everyone fleeing a communist state was actually fleeing communism rather than just specific communists.
This Marxist fits Biden’s views perfectly, as he was quoted in 1/2/20:
“Presidential candidate Joe Biden is calling for jailing energy executives. On Sunday, he called for first “doing away with any substance for fossil fuels.” After that, he said, fossil fuel executives need to be held “liable for what they have done,” especially to “underserved neighborhoods.” Then, “when they don’t want to deliver, put them in jail. I’m not joking about this.” Biden’s cruel joke of an administration is on us.
Biden’s ‘Marxist’ Treasury Nominee Wants To Bankrupt, ‘Starve’ Fossil Fuel Industry To Tackle Climate Change. By Thomas Catenacci
President Joe Biden’s nominee for a key Treasury Department role admitted that oil, natural gas and coal firms need to go bankrupt to prevent climate change, a resurfaced video showed.
“Here what I’m thinking about is primarily the coal and oil and gas industry. A lot of the smaller players in that industry are going to probably go bankrupt in short order, at least we want them to go bankrupt if we want to tackle climate change,” Saule Omarova — who the Senate is considering to lead the Office of the Comptroller of the Currency — remarked in a clip uncovered Tuesday by the American Accountability Foundation (AAF), a conservative research group.
The comments were originally made during a March talk Omarova gave as part of the Jain Family Institute’s “Social Wealth Seminar” series.
Omarova has already been slammed by top GOP senators over her Marxist thesis paper which she has yet to share with the Banking Committee. She wrote the thesis, titled “Karl Marx’s Economic Analysis and the Theory of Revolution,” while studying at Moscow State University in Russia decades ago.
“At the end of the day, these are people’s lives, people are going to lose their jobs because she’s going to support policies that are there to drive them out of work,” AAF Founder Thomas Jones told the Daily Caller News Foundation in an interview.
“It’s people who are not going to be able to send their kids to college, who will not be able to make their mortgage payment because Saule Omarova has a classical Marxist view where she wants the government to run all sectors of the economy and part of that is implementing the Green New Deal,” he continued. “And you can only do that by destroying the oil and gas industry.”
In addition to her comments on bankrupting the fossil fuel industry, Omarova suggested that withdrawing investment from oil and gas firms would be beneficial, during a virtual roundtable hosted by the Jain Family Institute in May.
“So, the way we basically get rid of those carbon financiers is we starve them of their sources of capital,” she argued.
Omarova added that the government should stop “greenwashing,” or forwarding policies that only appear climate-friendly on the surface but are still harmful to the environment, and that leaders need to begin facing “difficult choices” on climate change policy.
During the same roundtable, she also criticized West Virginia Democratic Sen. Joe Manchin for pushing back on left wing policies. Manchin “is supposed to be on the Democratic side,” she continued. All 50 Republican senators are expected to vote against confirming Omarova, Axios reported Sunday.
Three moderate Democrats reportedly shared their concerns with her nomination directly to the White House, multiple people familiar with Axios.
“I just don’t understand how the White House is going to explain this to the Jon Tester’s or the Joe Manchin’s of the world, that she wants to bankrupt employers who employ a significant number of the constituents in their state,” Jones told the DCNF. “I think it’s unconscionable.”
How much more, America? How much more of this are we going to stand for before we start stringing these communist scum up on every lamppost?
I don’t think someone that wants to use the tools of government to bankrupt private corporations, or wreck the economy, should be nominated, or confirmed to fill any job in the government. The White House did not immediately respond to a request for comment on the matter.
President Joe Biden’s nominee for a key Treasury Department role admitted that oil, natural gas and coal firms need to go bankrupt to prevent climate change, a resurfaced video showed.“Here what I’m thinking about is primarily the coal and oil and gas industry. A lot of the smaller players in that industry are going to probably go bankrupt in short order, at least we want them to go bankrupt if we want to tackle climate change,” Saule Omarova — who the Senate is considering to lead the Office of the Comptroller of the Currency — remarked in a clip uncovered Tuesday by the American Accountability Foundation
These sick people think they are going to save the world by engineering an American suicide drama front and center on the world stage. Actually, I don’t think saving the world is as much their agenda as putting their academic theses into practice so the ruins of our “shining city” can have their names scrawled on the street corners. These narcissists, sociopaths and borderlines need to be purged from D.C., PREFERABLY without unnecessary violence.
I have no qualms with finding and perfecting non-fossil fuels and energy sources. But I also think it should be a gradual transition. Problem is they want to do it in 4 months. I understand they want to go green but you cannot get rid of coal and natural gas in 4 months and have nothing to replace it with. I also find it funny that they want to get rid of coal. You need coal to make electricity. They think you turn on a switch and “bingo” electricity. You need coal (fossil fuel) to make electricity. If you get rid of fossil fuel that leaves you with wind and solar. How many houses and cars are we going to be able to fuel with what we have now?
Here is an article speaking to that issue. (Solar and wind power use has grown at a rapid rate over the past decade or so, but as of 2018 those sources accounted for less than 4% of all the energy used in the U.S. (That’s the most recent full year for which data is available.)
https://www.pewresearch.org/fact-tank/2020/01/15/renewable-energy-is-growing-fast-in-the-u-s-but-fossil-fuels-still-dominate/
Not resistant, like China and India, but NOT the force-fed ‘mandated’ rush to change NOW! that the (much too powerful) U.S. lunatic fringe green radicals want either. I suspect China has a very big hankering for what remains of our reserves, and have dictated that it matters not that alternatives are still mostly at the ‘unicorn’ stage. We are to stop using THEIR fuel.
Apparently Flatus Maximus has not been doing enough to placate the Lunatic Left Greens, who are in reality, the nagging tip of the global commie spear.
And how about, FTA: ‘Omarova added that the government should stop “greenwashing,” or forwarding policies that only appear climate-friendly on the surface but are still harmful to the environment,…’ That would be discarding enormous numbers of Lithium batteries, and un-recyclable wind turbine blades into…where?…outer space?
Just like a marxist. Climate change is imaginary, but she doesn’t mind how many people have to freeze to death, get sick, lose their jobs or pay exorbitant costs for food and fuel. Kind of like the Holodomor, where all the Kulaks were starved to death so that the State could confiscate all their food and crops. These people are evil. They keep ranting on and on about climate change when there isn’t any, and they jet around the world and use gas guzzling limousines.
Anyone who believes truth is whatever they say it is should never be in a position of authority. It is insanity to rely on sources of power that do not exist to the extent that they are able to meet our needs. Americans are not opposed to alternative energy sources just to be opposing them. We oppose them because they are inefficient and not up to the demand that will be required for their use.
It is insanity to rely on technology we know is insufficient to meet our needs. These green zealots want us to jump off a cliff and hope that there will be something there to break our fall. Like everything else in this country, the policies democrats want to cram down our throats are doomed to failure and actually do more harm than good, but they don’t care because they are incapable of understanding the consequences of their actions. Their only concern is that they have enacted their impossibly irresponsible policies.
These people are not as smart as they think they are. They actually are mindless drones parroting a dogma that defies truth. When you cannot follow logical thought to its ultimate end because you are so religiously married to the impossible doctrine of progressivism, you have forfeited any right to govern or make any decision on behalf of your fellow citizens. When you will jettison facts and science to cling to some pie in the sky theory, you are unworthy of leadership. We cannot let the insane make any decisions for the rest of us regardless how sanctimonious and confident they are in their beliefs.
I think maybe it’s time to let the Greenies show their true colors. I guess we need one nasty winter season to wake up the Democrats who vote for these kinds of people. I know a lot of them! They have no idea how their lives are about to change. When they’re paying huge heating Bills, they’re not going to be happy. When they have Never before seen gas prices to fill up their cars (many families have TWO cars), they’re not going to be happy.
Those voters are going to have to experience, first hand, what THEY voted for! It has to hurt THEIR lifestyle. Hopefully, by November, 2022 they will have had enough and will wake up and throw the Biden Idiots out! If Republicans can take back Both Houses of Congress, they can slow down the Biden Administration until we totally throw them out in 2024. Then, ALL of the Horrid changes they made can be changed Back to the Trump Administration Era when things were running smoothly. One can only hope!
Senate poised to battle over Biden’s pick of big bank critic | TheHill
This kind of FORCED COMPLIANCE to go backward is foolhardy. To knee cap and break the legs of the ECONOMY through radicalization of FORCE against people should tell you everything you need to know about the people trying to take over your Freedom and Liberty. The technology does not currently exist, and what there is is NOT READY FOR PRIME TIME for use by everyone they seek to minimize. Modern coal and gas burning plants are very efficient.
Many scientists, like Dr. Patrick Moore, Who Wrote “Confessions Of A Greenpeace Dropout,” state that carbon is good for the environment and plant life. Thousands of solar panels and wind turbines are what’s truly hazardous. As usual, the Marxist have it backwards. They hate us and want to create shortages and high prices, all while telling the wretched masses they know what’s best for us. Without fossil fuels where will we be getting our electricity from?
The stupidity is maddening. Instead of burning fossil fuels to directly power our cars, the green idiots want to make electricity from fossil fuels and THEN power our cars unless they want to depend on windmills. Couple questions for the green idiots. It takes me a couple minutes to fuel my car with gasoline. How many hours will it take with electricity?
How high will my electric bill go charging a car compared to the cost of gasoline?
Americans will be able to see if companies like Exxon will fight for their survival, or demonstrate that their top brass is complicit in the Davos scheme. The ‘onion’ of the climate change hoax is slowly being peeled. It is now clear that the objective of the hoax is to achieve ‘world government’, and further that this new world government will embody all of the aspects of radical socialism. Total equity will improve quality of life by using money extracted from rich capitalists. But Margaret Thatcher exposed the fatal flaw in their plan, explaining the problem with socialism is that eventually, you run out of other people’s money. These green psychos will first have to permanently get rid of all clouds, and find a way to have wind blowing all the time, everywhere.
Saule Omarova would end up bankrupting and starving America.