Uh, hip, hip, hooray?
Today’s CPI Reading came in smoking hot this morning and boy do I have egg on my face. I honestly thought Senile Joe’s team was smart enough to act like Bill Clinton’s boys or Obama’s he/she/its to manipulate the numbers like the BS/BLS team used to.
But nooooooooooooooooo….let’s make JohnGaltFla look bad. Or just report something to terrify the average schmuck (from ZeroHedge):
US Consumer Prices Soared In June, Americans’ Real Wages Fall For 15th Straight Month
With The White House having desperately tried to front-run this morning’s inflation print, analysts were expecting a jump higher led by food and energy costs. They were right in direction but it was way worse as the headline CPI soared 9.1% YoY (vs 8.8% exp and 8.6% prior)
And silly me predicted 8.2% thinking these goofballs could still manipulate the numbers like a Clinton intern can maneuverS a cigar.
But I digress.
I got it wrong and I shall always wear my big boy pants and admit it. The world is ending. We are all going to die. And the CPI by July 2023 at this pace will be a Zimbabwean 400% year over year.
I’ll leave this final thought on my error here for everyone to digest:
I may have missed the number but keep in mind that our entire economy is based on the actions of the idiots at the Federal Reserve and worse, a Senile Fool and corrupt legislature just down the street.
Amurica, we are screwed.