ECONOMICS: Inflation never goes “back”; that’s deflation

https://confoundedinterest.net/2024/01/30/captain-obvious-award-goes-to-treasury-secretary-yellen-who-admits-high-prices-here-to-stay-food-cpi-up-21-gasoline-prices-up-38-under-inflation-joe-home-prices-up-33-2-mortgage-rates/

Captain Obvious Award Goes To … Treasury Secretary Yellen Who Admits “High Prices Here To Stay” (Food CPI UP 21%, Gasoline Prices UP 38% Under “Inflation Joe”, Home Prices UP 33.2%, Mortgage Rates UP 154%)

1/30/2024, 1:07:50 PM · by Kaiser8408a · 13 replies

Confounded Interest ^ | 01/30/2024 | Anthony B. Sanders

Treasury Secretary Janet Yellen just admitted what the rest of Americans already knew: high prices are here to stay. Example? Food prices (CPI) are up over 20% under Inflation Joe while gasoline prices are up 38% under Clueless Joe. On the housing front, the Case-Shiller National Home Price Index is up 33.2% under Biden. And Freddie Mac’s 3-year mortgage rate is up 154% under Biden’s leadership (c’mon man! Obama is pulling the strings on Puppet Joe). Speaking during an interview with ABC News Live over the weekend, Treasury Secretary Janet Yellen admitted prices aren’t going down, contradicting arguments repeatedly made…

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Yup, that means we are NEVER getting back to penny candy, nickel cigars, and 25¢!

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