Kamala Harris Drinks Beer with Stephen Colbert While Americans Pay 16 Percent More for Beer Under Biden-Harris Inflation
by Alana Mastrangelo
Breitbart.com
Vice President Kamala Harris had a beer with Late Show host Stephen Colbert on Tuesday evening. Meanwhile, inflation has soared under her watch, leaving Americans paying 16 percent more for beer than they did when Trump was in office.
In an apparent effort to make Harris look more relatable, Colbert insisted on having a beer with her — a nod to the old adage that a politician is considered more likeable if one would enjoy having a beer with them.
“Elections, I think, are won on vibes, because one of the old saws is — they just want somebody they can have a beer with. So would you like to have a beer with me?” Colbert asked Harris.
“Now, we asked ahead of time, because I can’t just be giving a drink to the Vice President of the United States without asking,” the Late Show With Stephen Colbert host admitted. “You asked for Miller High Life.”
The Bright Line from Inflation to Federal Control
by Jay Davidson
American Thinker
Inflation did not start because the supply of goods and services was scarce and demand high. If that were the case, then Fed Fund interest rate increases, starting in 2021, would have reduced inflation much lower than 4%. Instead, rate increases, especially the rapidity with which the Fed increased them, bludgeoned and depressed the private economy.
The seeds of the current, extraordinary inflation cycle started growing in 2008, and for a very different reason from supply and demand.
Before we discuss this cycle, let’s talk a little about Monetary Policy. The Federal Reserve has several powerful tools at its disposal. As just mentioned, the current Fed targeted overnight rates that directly affect a depositor’s interest income (a bank’s cost) for deposits.
Banks balance their accounts every night, and if they have excess liabilities (deposits), then they transfer those excess funds overnight to their account at the Federal Reserve.
Bond Market Smells a Rat: On Eve of CPI Inflation Data, 10-Year Treasury Yield Jumps to 4.08%, +43 bps Since Monster Rate Cut
by Wolf Richter
Wolf Street
Fed is seen as deprioritizing inflation fight, while a tsunami of supply heads for markets.
At the auction today, on the eve of the release of the CPI inflation data that may “surprise” markets with a further acceleration of inflation, the US Treasury Department sold $39 billion in 10-year Treasury notes, maturing on August 15, 2034, at a yield of 4.066%, substantially higher than the yield at the last 10-year Treasury auction on September 11 of 3.648%.
There was plenty of demand at the auction, given the juicy yield – yield solves demand problems, that’s what yield is for – including from foreign investors. The total amount bid was $97.3 billion.
Trump is Falsely Blaming Harris for High Prices. His Plans Will Cause Huge Inflation
The pandemic, Russia-Ukraine war and corporate price-gouging have all contributed to inflation – not Kamala Harris
[Ed. Note: Ha ha ha ha ha…]
by Steven Greenhouse
The Guardian
As the presidential campaign enters the home stretch, one of Donald Trump’s most dishonest – and effective – attacks is that Kamala Harris is to blame for inflation.
That attack makes no sense. Several things caused a surge in inflation, but the US vice-president wasn’t one of them. Blame inflation on the pandemic or on Vladimir Putin’s war in Ukraine, but don’t blame it on Harris. Blaming her for inflation makes as much sense as blaming her for the leak in your roof. In seeking to blame Harris for inflation, Trump is absurdly trying to turn her – a vice-president who, like other veeps, has very little power – into some all-powerful economic tsar who somehow controls everything from egg prices to gasoline prices.
Starbucks: The Rise and Fall of the Inflation Café
Starbucks keeps jacking up prices, slashing rewards, and making their loyalty program suck more every year. What used to be a cool spot with solid rewards now just feels like a money trap, where loyal customers are expected to spend more and get way less in return. Their brand? Totally wrecked by greed and bean counters.
by Kerry Lutz
Inflation Café
For years, Starbucks was the go-to spot for coffee lovers who knew they could count on the company to treat their loyalty with respect. They offered a simple rewards program, prices were manageable, and it felt like you were part of something more. Fast forward ten years, and Starbucks has gone from fostering community to fostering corporate greed. It’s not just about coffee anymore—it’s about how much they can squeeze from your wallet while giving you the least in return. If you’re still a loyal customer, brace yourself—Starbucks has been rewarding your loyalty with disloyalty.
The Relentless Price Hikes
Let’s talk about the elephant in the room: the price increases. Over the past decade, Starbucks has ramped up prices every few years. In 2014, a medium-sized cappuccino set you back about $3.65. Now, in 2024, that same drink costs a whopping $5.25. That’s a 44% increase! Meanwhile, your paycheck probably hasn’t gone up by 44%. But for Starbucks, inflation and operational costs are just part of the excuse. Each price hike is just another way for them to cash in on their loyal customers.
Here’s a quick rundown of how they’ve bumped up prices over the years:
McDonald’s Says Meat Packers Are Greedflating the Price of Beef
The fast-food giant is claiming that meat packers have colluded to artificially raise the price of beef. But the US is actually dealing with a cattle shortage.
by J. Edward Moreno
Sherwood News
McDonald’s didn’t want to raise the price of a Big Mac beyond recognition and turn their back on their value-focused consumer base. It was the meat packing companies that made them do it!
That’s what the fast food giant is alleging in a lawsuit filed Friday, accusing nine major American meat packers – among them Tyson, JBS, and Cargill – of artificially inflating the price of beef.
The legal spat comes at a turning point for McDonald’s.
The average price of a McDonald’s menu item is up 40% since 2019. That has caused its customer base, which has come to rely on it for a cheap meal, to pull back. The Golden Arches have tried to lure them back through value meals.
Inflation: 86% of Consumers Find Grocery Prices the Most Frustrating
by Russell Redman
Supermarket Perimeter
CHICAGO — Almost 9 of 10 US consumers are frustrated with escalating prices for groceries, gas, restaurants and other categories, sapping their loyalty to retailers and brands, according to the 2024 CPG + Grocery Consumer Report by marketing and communications firm R.R. Donnelley & Sons (RRD).
Of 1,819 shoppers surveyed by RRD and research partner Prosper Insights & Analytics, 88% expressed frustration with high pricing across categories. Most of consumers’ ire, however, was aimed at overall grocery shopping, as 86% of respondents said the rising price of groceries got them the most frustrated.
Breitbart Business Digest: What’s Next for the Fed After the September Blunder?
by John Binder
Breitbart.com
Will the Fed Double Down on September’s Mistake?
The September jobs report was a jolt to the system, upending expectations for the Federal Reserve’s next moves.
The addition of 254,000 jobs in September—well above the 140,000 forecast—paired with a dip in the unemployment rate to 4.1 percent, makes one thing clear: the labor market has not significantly weakened. It’s powering ahead.
Wage growth came in stronger than expected at four percent, further complicating the Fed’s narrative that the economy needs propping up with lower rates. After the Fed’s surprise 50-basis-point cut in September, the burning question now is whether the central bank overplayed its hand.
Wall Street Closes Higher On Tech Buying as Investors Wait On Inflation Data
by David French
Yahoo! Finance
All three of the main indexes suffered a sell-off on Monday, falling roughly 1% each, as they were pressured by surging Treasury yields, escalating Middle East tensions, and a re-evaluation of U.S. rate expectations.
The easing of Treasury yields somewhat on Tuesday, however, meant investors were drawn to high-growth stocks, which benefit from lower debt costs to fuel their growth, such as technology companies.
Inflation Has Returned to Normal. What Does That Mean for the Election?
Inflation has fallen dramatically but remains a top concern for voters.
by Max Zahn
ABC News
As the U.S. hurtles toward a presidential election this fall, the nation’s inflation rate has quietly returned to normal, even as it continues to worry voters and draw focus at campaign events.
More than half of adults list inflation as a top issue for the country, making it the highest-ranking concern by a wide margin over the likes of immigration, crime and abortion, according to an Ipsos poll conducted late last month.
The disconnect stems in part from a typical lag between when inflation comes down and when consumers acclimate to new price levels, since a lower inflation rate does not mean prices have come down but rather that they have begun to increase at a slower pace, experts told ABC News.