Dow craters 1,276 points as stocks notch their worst day since June 2020 after hot inflation reading
markets.businessinsider.com
"A 100 basis point move is again within the realm of possibility," said economist Peter Earle, referring to the upcoming Fed meeting next week.
    • A_Serbian_Milf [they/them]
      ·
      2 years ago

      Petroleum Reserve is almost depleted too 😂

      Gas prices going down is only temporary

    • glimmer_twin [he/him]
      ·
      2 years ago

      struggling to bring inflation down and appears to be running out of options (within the neoliberal framework, of course)

      Which is ironic because neoliberalism was partly justified in the first place as a way to deal with inflation.

      Real heads know it was actually about the TROPF tho.

    • spectre [he/him]
      ·
      2 years ago

      Do you think it could be argued that increasing inflation in the imperial core is an inevitable consequence of the slow loosening of it's grip over the rest of the world? I guess everything is kind of a factor, but I find a bit of humor in the idea of Biden trying to counteract the fact that Western lifestyles are subsidized by imperialism. Enjoy that struggle, dipshits.

        • star_wraith [he/him]
          ·
          2 years ago

          I just want to say, you're one of my favorite posters. And also, the idea that Americans wake up one morning and realize they have to start paying the "real" price for their treats brings me a tremendous amount of joy. I know it won't happen that way, but a comrade can dream...

      • pooh [she/her, love/loves]
        ·
        2 years ago

        I’m not an economist, but I tend to think it’s the result of political malfeasance in the form of the messed up Covid response (leading to a labor shortage), provoking and sanctioning Russia (leading to gas and fertilizer/food shortages), and trying to “decouple” from China (leading to all kinds of other shortages). The inability of the US to care for its own citizens and also accept a multipolar world is imo largely responsible for this mess.