(News Editors) It was last August when Jerome Powell began to admit that inflation just might be a problem. But even then, he was only willing to say that inflation would likely be “moderately” above the arbitrary 2 percent inflation standard. Back in August, low inflation—not high inflation—was still perceived to be the “problem.” But things had certainly changed by late November when Powell was forced by reality to retire “transitory” as the preferred adjective to describe price inflation. At that point, the Fed began strongly hinting that it would finally do something to rein in price inflation. But exactly when that might happen remained anyone’s guess.
Bubble
Maryland and Georgia Suspend Gas Taxes, Other States To Follow in Effort To Hide Biden’s Inflation
(Mary Villareal) Maryland and Georgia have halted their collection of gas taxes in an effort to hide the effects of Biden’s inflation from the American people.
Trucking Industry Is Short 80,000 Truck Drivers Amid Supply Chain Crisis
(Divina Ramirez) The American Trucking Associations (ATA) claimed that the trucking industry is short by a record high 80,000 drivers, which is 30 percent more than before the Wuhan coronavirus (COVID-19) pandemic when the industry faced a shortage of 61,500 drivers.
Over 100,000 Workers Are Currently on Strike and Could Collapse the Economy, but Biden Is Doing Nothing To Reactivate Productive Members of Society
(Arsenio Toledo) More than 100,000 American workers are currently on strike – a culmination of nearly two years of labor unrest that started when the government forcibly shut down entire industries in early 2020. But instead of helping resolve the labor disputes and keep the economy from crashing, President Joe Biden is standing on the sidelines.
Food Inflation in the US about to Reach a Tipping Point
(Arsenio Toledo) Food inflation in the United States is reaching a tipping point. If the prices of food in groceries go up any further, industry executives warn that consumer spending habits may change.
Walmart, UPS and FedEx Commit to Working More Shifts To Deal With Global Supply Disruptions… but Will It Matter?
(Mary Villareal) The White House announced Wednesday, Oct. 13, that Walmart, UPS and FedEx are moving to work more shifts to deal with global supply disruptions that have contributed to a surge in inflation. The announcement was made ahead of President Joe Biden’s meeting with the heads of those companies to address the supply chain bottlenecks before the Christmas season.
Tech Companies Amass Large Portfolios of New Properties During Pandemic
(Mary Villareal) The biggest U.S. companies are sitting on huge piles of cash, and they are running out of ways to spend it. So now, they are putting their money in a lot of commercial real estate.