LAssessment: Uncle Joe says the trillions he is spending will cost NOTHING, and inflation is temporary so don’t worry be happy …
Following yesterday’s US PPI print at record highs, overnight we saw Chinese producer prices rising at their fastest pace in 26 years, and this morning’s US consumer price data was expected to show yet another non-transitory surge in inflation… but the actual surge was far bigger than expected.
US Consumer prices soared 6.2% YoY in October, way higher than the +5.9% YoY expected and accelerating from September’s 5.4% YoY – that is the highest since June 1982…
And just in case you fall for the narrative that wages are rising too… to cover this… they’re not! Real weekly earnings are down 1.6% YoY – in other words, The Fed’s actions are destroying people’s cost of living…
“And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” Revelation 6:6
Read More @ Zero Hedge HERE
