US inflation is at 5.4%/yr for July. Consumers are paying the price. With the explosive growth in the US money supply, I predict that inflation will reach 6%-9% by the end of the year. Inflation will be Biden’s Achilles’s heal. pic.twitter.com/46v9Xf3DRE
— Steve Hanke (@steve_hanke) August 14, 2021
Fast Food This Year:
1. Chipotle raised prices across its menu by about 8%
2. Taco Bell has raised prices 10%
3. McDonald's has raised prices 8%
4. The Cheesecake Factory has raised prices 8%
I highly doubt any of these companies will lower prices…
— Gold Telegraph ⚡ (@GoldTelegraph_) August 13, 2021
Hall of Fame Quotes
“Inflation is transitory”
Jake Powell, June 2021
“Subprime is contained”
Ben Bernanke, Feb 2007
“I will hurt the shorts, and that is my goal."
Dick Fuld, April 2008
— Lawrence McDonald (@Convertbond) August 14, 2021
Inflation, The Fed and Markets – A Thread
– U.S consumer confidence plummeted overnight to below the lows during the dark days of early 2020's.
– At the same time perceived conditions for buying cars, durable goods & houses have deteriorated to the worst levels in decades.
— Avid Commentator 🇦🇺 (@AvidCommentator) August 14, 2021