The newly released consumer price index for June shows that inflation was up 9.1% since June 2021, staying at its most rapid rate in over 40 years. Over the last 12 months, fuel and oil saw a 98% increase and energy increased by 41.6%, a main contributor to most rising prices of goods. CNBC’s Dominic Chu reports. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC
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#news #inflation #economy
Which Prices Are Rising The Most As Inflation Hits 41 Year High
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Elon Lead us to the outer space.
Biden Lead us to high inflation.
🤔🤔… at least… they reach the same point. High.
all of them…
I'm not planning to go back to work,, I'm done working for someone or somebody 💯,,
Yes, prices are horrid we know! The disgusting conservative supreme court and new conservative Congress, are working overtime to reduce our civil liberties and well being. I've never felt as insecure and threatened.
Democrats and Biden ideal America and Building it Back Better it's what Americans wanted and voted for so stop complaining about inflation and gas prices.
Work, save your money, and move out of the U.S! This country honestly not even worth dying in.
Gas prices have risen all over the world not just in America.
Go protest outside the homes of US Oil company CEOs until they lower gas prices.
Ask Giuliani to provide the personal address of the ExxonMobil CEO and his family members and then advertise it to all on social media.
Our society could learn something from the ancient Incas. Did you know that theirs was a society which fed all their people, no one starved there due to the policies of the rulers. Too bad that 600 years later our leaders cannot duplicate that success.
BIDEN'S ECONOMY
Since 2008, the Fed has just artificially suppressed interest rates to 0% and printed trillions upon trillions of dollars in QE to Infinity FOR 14 YEARS!!! They have created Super Bubbles in Housing and Stocks! Now that the Fed is pressured to raise interest rates ABOVE 0%, the economy will collapse! Of coarse, the Fed will drop interest rates back to 0% and print trillions upon trillions MORE in QE to Infinity for another 20 years!!😂 This would be laughable if it wasn't so sad for America and the world!
Solution:
1 End the Fed and all Central Banks!
2 Return to a Sound Money Silver and Gold Standard like the Founding Fathers intended!
3 Return to Free Market Capitalism with NO Crony Capitalist bailouts and Fed Put!
Ask Elon and Jeff why…
Why don't they cut taxes on people making less than a hundred thousand..,
Republicans are always causing us Americans problems.
You idiots who voted democrat , this is all your fault and got what you voted for ! deal with it !!! ask yourself ? how was prices for everything under Trump ? Did we ever give billions to other countries ? was there any wars ? what about inflation ? Fact is you were all brain washed by the mainstream media ! does your wallet tell you it was worth it ?
The Biden administration has failed he’s the worst president even worse than Jimmy Carter
News Flash – The American carnage stops when Trump is arrested
Trump witness tampering….trump getting scared
Unethical Linsey Graham ordered to testify
Steve Bannon thinks Trump is the current President and that he is employed by the White House….why else does he want to testify? To have executive privileges you have to be employed by the White House and only the current president can waive those executive privileges.
Steve Bannon pleads to be able to testify, but he committed his crime already so he will go to jail.
Cipollone does not dispute Trumps illegal activities…..Trump to be indicted soon…
Cipollone was Trumps White House lawyer and has NOW testified under oath to convict Trump.
Trumpist making deadly threats and trying to intimidate witnesses!
Trumpist gunmen will continue because Trump has never been punished for his crimes…..they see no Law and no Order. Arrest Trump and save our kids!
Trump attacked his secret service agent. Secret Service Agents asked to testify UNDER oath!
Trump vandalized the White House, destroyed White House property in fit of rage and stole secret documents.
FBI seized John Eastman for criminal activity and now has his cell phone
Ron Johnson lies about his seditious conspiracy efforts.
Mo Brooks, Matt Gates,Scott Perry,Louis Gohmert, Andy Biggs,Paul Gosar, Marjorie Taylor Greene, John Eastman admits guilt….all by asking for pardons!
Everyone knows, if you ask for or accept a pardon you are admitting guilt! A pardon is for a crime committed.
Trump willfully mounted the insurrection and violate conspiracy statute 18 U.S.C. § 371 of the criminal code. Trump also stole secret documents from the White House.
Attorney General Merrick Garland plans to arrest Trump and his leadership team!
Steve Bannon Arrested, Guilty and Indicted! All appeals denied by courts and his trial starts in July 2022.
Proud Boys Leader Henry “Enrique” Tarrio is arrested for seditious conspiracy
Proud Boys – Pezzola arrested for seditious conspiracy
Proud Boys – Ethan Nordean, of Seattle, arrested for seditious conspiracy
Proud Boys – Joe Biggs, of the Daytona Beach area arrested for seditious conspiracy
Proud Boys – Zachary Rehl, of Philadelphia arrested for seditious conspiracy
Peter Navarrow Arrested, Guilty and Indicted! Trial date 11/17/2022
Mark Meadows Guilty and Contempt
Dan Scavino Guilty and Contempt
Civil Contempt For Trump Is Pending
Civil lawsuits For Trump Are Pending
Jail Time For Trump Is Coming: he stole white house documents and gifts to America from foreign officials.
Loudermilk is a Trumpist Insurgent. He lead Trumpists into the Capital and then denied it.
Support for Trumpism is support for more mass shooting
No person is above the law! Listen to former DOJ Eric Holder, you can and need to prosecute Trump.
since January 6 2021 not one single Republican lawmaker has been held accountable for their insurrection actions. they will win re-election if not arrested and they will cause more chaos and mass shootings. Put an end to the evil Trumpist Republicans and support the good Republicans and good democrats.
MAGA Trumpists are ramping up their war machine to lie about their insurrection! Dont believe the lies!
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We need to support a federal law mandating prison time for each lie told by an elected official.
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More Very Disturbing Trends –
1 Law enforcement has NO OBLIGATION TO HELP ANYONE…that is what their Union will fight for during investigations and trials.
2 Law enforcement cant be prosecuted for Not doing their jobs
3 Law enforcement can legally lie unless they are under oath at that moment
4 The District Attorney will side with the cops almost always
5 Law enforcement has qualified immunity, which makes it very difficult to prosecute them
Texas Shooting Coverup …..over 18 armed evil trumpist c o p s had over 11,000 live rounds of ammo and they waited. and waited…..while people were being killed. it took the border patrol to take out the shooter…. how sad is that?
nothing will happen to these evil trumpist people unless the locals keep up the pressure and the cops and politicians involved leave!
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Whoever walks in integrity walks securely, but whoever takes crooked paths will be found out.
Proverbs 10:9, NI
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Any coincident that when soviet union invaded Afghanistan that inflation shoot to the sky during those periods in 1970 to 1980??Now US latest inflation figure is 9.1% .It is the economy stupid exclaimed Ronald Reagan !! Which country will suffered the highest inflationary dire consequence if US continued to accede to sanctimonious beggar Zelensky for more weaponry whereby prolonging this needless war that will be the demise many country to become bankrupt such as Sri Lankan.You do not need an economist tell you who will prevails. As well as taking the current affairs into it.The Russian Ruble will be again be the best currency for 2023 and follow by Yuan.
That is not necessary a good thing US dollar Weaker currency means more business. US had repeatedly complained about China artificially keeping its currency down. Lower the currency, more business.why Yuan ?cos Rubles and Russia cannot function by itself just like North Korea after thousand of sanction. currency by itself is redundant in a global economy.Countries with the Highest Default Risk in 2022.In May 2022, the South Asian nation of Sri Lanka defaulted on its debt for the first time. The country’s government was given a 30-day grace period to cover $78 million in unpaid interest, but ultimately failed to pay.Not only does this impact Sri Lanka’s economic future, but it also raises an important question: which other countries are at risk of default?To find out, we’ve used data from Bloomberg to rank the countries with the highest default risk.The Sovereign Debt Vulnerability Ranking.Bloomberg’s Sovereign Debt Vulnerability Ranking is a composite measure of a country’s default risk. It’s based on four underlying metrics:
Government bond yields (the weighted-average yield of the country’s dollar bonds) 5-year credit default swap (CDS) spread. Interest expense as a percentage of GDP. Government debt as a percentage of GDP.To better understand this ranking, let’s focus on Ukraine and El Salvador as examples.
Country Rank Government Bond
Yield (%) 5Y CDS Spread Interest Expense
(% of GDP) Government Debt
(% of GDP)
🇸🇻 El Salvador 1 31.8% 3,376 bps
(33.76%) 4.9% 82.6%
🇺🇦 Ukraine 8 60.4% 10,856 bps
(100.85%) 2.9% 49%
1 basis point (bps) = 0.01%
Why are Ukraine’s Bond Yields so High?Ukraine has high default risk due to its ongoing conflict with Russia. To understand why, consider a scenario where Russia was to assume control of the country. If this happened, it’s possible that Ukraine’s existing debt obligations will never be repaid.That scenario has prompted a sell-off of Ukrainian government bonds, pushing their value down to nearly 30 cents on the dollar. This means that a bond with face value of $100 could be purchased for $30.
Because yields move in the opposite direction of price, the average yield on these bonds has climbed to a very high 60.4%. As a point of comparison, the yield on a U.S. 10-year government bond is currently 2.9%.What is a CDS Spread?Credit default swaps (CDS) are a type of derivative (financial contract) that provides a lender with insurance in the event of a default. The seller of the CDS represents a third party between the lender (investors) and borrower (in this case, governments).
In exchange for receiving coverage, the buyer of a CDS pays a fee known as the spread, which is expressed in basis points (bps). If a CDS has a spread of 300 bps (3%), this means that to insure $100 in debt, the investor must pay $3 per year.Applying this to Ukraine’s 5-year CDS spread of 10,856 bps (108.56%), an investor would need to pay $108.56 each year to insure $100 in debt. This suggests that the market has very little faith in Ukraine’s ability to avoid default.
Why is El Salvador Ranked Higher?
Despite having lower values in the two metrics discussed above, El Salvador ranks higher than Ukraine because of its larger interest expense and total government debt.According to the data above, El Salvador has annual interest payments equal to 4.9% of its GDP, which is relatively high. Comparing to the U.S. once more, America’s federal interest costs amounted to 1.6% of GDP in 2020.When totaled, El Salvador’s outstanding debts are equal to 82.6% of GDP. This is considered high by historical standards, but today it’s actually quite normal.
The next date to watch will be January 2023, as this is when the country’s $800 million sovereign bond reaches maturity. Recent research suggests that if El Salvador were to default, it would experience significant, yet temporary, negative effects.Another Hot Topic for El Salvador: Bitcoin.In September 2021, El Salvador became the first country in the world to adopt bitcoin as legal tender. This means that Bitcoin is recognized by law as a means to settle debts and other obligations.
The International Monetary Fund (IMF) criticized this decision in early 2022, urging the country to revoke legal tender status. In hindsight, these warnings were wise, as Bitcoin’s value has fallen by 56% year-to-date.While this isn’t directly related to El Salvador’s default risk, it does open potential avenues for relief. For instance, large players in the crypto space may be willing to assist the government to keep the concept of “nation-state bitcoin adoption” alive.
China is till the biggest manufacturer in the world.USA tried to tariff China,end up with 100 of billions of trade deficits.Russia can do without India but not China(it is still the biggest importer of oils and gas)China economy is 20 trillions after xi unrelenting drive versa a pathetic economy less then 5trillions ,if US dollar increase it rate to fight another inflation like its did the 1970 to 1980 from rate increase from 10 to 20 % to flight inflation of mere 10% .Emerging economy will be torn and tatter economy just like other which US hegemony always do but while other are at the mercy of USA or embracing the next best currency such as China,it can sell it the reserve of $1 trillion in the treasury dollar back to US protecting it economy.Therefore Ruble for oils combing with yuan is the greatest threat to US petrol dollar.both combination to be reserve currency is not a disillusion anymore far !!
Russia too tries to weaken it's currency like reducing the interest rate and reducing the cap on rubles from 80% to maybe 50% and all that.A balanced currency is what is important.Now this are unusual events. And Russia is willing to have an unacceptable powerful currency just to cause more damage to unfriendly nations.Russia continues to demand payment from them in Rubles. This creates an unprecedented demand for the currency, increasing its value.It is a fact that Russia will shut EU gas thereby making unfriendly EU to have the coldest winter making Goldman sac and Morgan prediction that oils could go to stenographic level like $300 abortive if Russia threat is carry out fully.
Let's agree on one thing. The prognosis of the coming winter in Europe is not good.Even with their propaganda on how they are working hard to replace Russia as its energy supply. Their storage tanks are less then half full, lignite burning furnaces at power plants closed for years are been restarted. Forget the environment. And rationing is already been announced.Even if all the LNG ships on earth are diverted to supply Europe alone, they can not fully replace Russian piped gas
The reality is that there is a limit to how much a population will accept before heads start rolling, and the western Europe know that. When the cold and economy really bites in another few months. EU will again start twisting to be able to buy more Russian energy. Forcing the Ruble in which they have to pay, up.So the Ruble will enter 2023 as the best currency, Russians like it or not.
Especially when there is an active war on the Petrodollar is on.Why isn’t the US doing anything about China’s growth in power?
Did you just wake up, Mr. Rip Van Winkle? The US has been doing tons to try and “contain” China… * spread propaganda rhetoric and disinformation in an attempt to turn public opinion against China * interfere in Chinese commerce by banning Huawei and SMIC * interfere in Chinese politics using the CIA in Hong Kong ,Tibet ,Xinjiang…
Psychologically, the Panda & the Bear have left the west by far intelligently, foresightedness, arguably, logically, spiritually, mentally, economically, politically, energetically, militarily.China surpassed all the Western efforts to curb their economy & military.Then, west is using the very few options they are left with to dismantle the world economy.China the global leader Economically, the west just won't agree easily because they'll look weak. The west don't wanna see anybody on-top of them Economically & Militarily. That's why they wanna bring about chao
What more important your stock market ore the people looking for food ,housing.In the end you lose because people wont buy anymore .
Money US dollars printing will not causes inflation thanks Joe Biden and voters
We could fix this with a WEALTH TAX but no, Capitalism is going great. Almost everyone is in a Rental Unit and cant afford to leave it, and you're all dependent on Grocery Stores for food. You cant even grow food because Capitalism wants you to have a grass lawn. Why? To make you a Sucker dependent on the stupid system they created.
Joe Biden: [reads teleprompter] Buttlicker our prices have never been lower!! End of quote, repeat line but raise volume.
Interviewer: What?
Joe Biden: BUTTLICKER!! OUR PRICES HAVE NEVER BEEN LOWER!!
Its false advertising all the claims that are made for high prices. Inflation, supply chains, shortages, ect. We aren't short anything. There's plenty to go around as always. Industrial price gouging always forges ahead in the face of every crisis and profit margins go up while everyone else suffers. But let's just forget all that and keep blaming it all on inflation.
Oh great, dead cows are cheaper now.
Starbucks just announced that 16 stores will be closing in Dem run cities due to crime.