“Headline % yoy similarly soared to 6.81% yoy from 6.22%—the highest since 1982.”
How can that possibly be true when gas and oil and meat are 100% higher in price this year over last year?
That 6.8% year-over-year inflation number seems incredibly low, compared to my real-world experience.
The Consumer Price Index, which is the measure of inflation, is based upon a “market basket” of goods which can be changed at any time to suit the narrative. Actually inflation may be currently running closer to 18% by my estimation.
In 1981 the fed funds rates were 20% in the attempt to stem inflation. By 1982 they dropped to 9%.
No. Hit the panic button. Waiting to fix the problem will only make the solution more painful. It won’t happen, but the solution is rather straightforward. Massively cut government spending. Massively cut taxes. Drastically increase tariffs on imports, particularly from China. Increase interest rates and cut the money supply. Open up state and federal lands for petroleum exploration. Eliminate about 90% of regulations affecting businesses. Drop all this climate change bullshit and burn baby burn. Burn coal. Burn natural gas. Burn the least expensive stuff out there. Jeez, burn Democrat cities to keep warm.