Inflation hits a new FOUR-Decade High, with food and energy increases hurting those who can least afford it
Posted By RichC on June 11, 2022
CPI up 8.6% driven by a 35% jump in energy prices and 12% increase in groceries
This is what a “sea of red” looks like for investors and stock market traders … and I can 
only imagine the “red” those living on a fixed income or families struggling to make ends meet must be seeing?
When it comes to 401K or IRA retirement savings, very little was left untouched on Friday after May’s CPI report indicated that inflation is now part of our lives (as if we didn’t know when grocery shopping, eating out, paying bills or filling up our vehicles). The rest of the year is going to be a “tough row to hoe” … as the Davy Crockett idiom suggests.
Someone online posted a price for gas prices the other day “before” they even more recently jumped to a national average of $4.98/gal for unleaded gasoline. It does tell the story as to an inflation trigger:
- Restrictive US energy policy
- Print and spend gobs of US$
- Keep the economy shutdown longer than necessary
- Pay people to stay home
- Portray weakness abroad (Putin invades Ukraine forcing world to react by sanctioning Russian gas and oil)
- THEN … double down on even more spending, ESG and Green New Deal policies … 👉 “just look into my eyes,” campaigned then candidate Joe Biden 🤔
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