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The Economy

The cost of electricity is one of the main factors driving inflation up.

The cost of household energy, which includes electricity and other fuels such as heating oil, propane, and natural gas, has jumped 7.1% during the past year. Electricity prices rose 5.8% in June.
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Americans spend more on household energy than they do on gasoline, and a kind of stealthy inflation is now underway in one of the nation's most confusingly priced commodities. Rising energy prices are pushing housing costs higher and causing a problem for President Trump, who promised cheap energy and lower inflation than his predecessor, Joe Biden.
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Natural gas still powers 40% of electricity generation, but American exports of natural gas have quintupled during the past 10 years. Domestic production has risen by just 46% during the same time. The rising share of domestic gas going to exports has pushed domestic prices higher.
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Natural gas prices haven't skyrocketed, but they're about 30% higher now than during President Trump's first term, which was the peak of the fracking boom. The EIA is forecasting another 6% jump in natural gas prices this year and a 19% gain next year.
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The expensive improvements to the power grid are also added to electricity bills. Trump’s metal tariffs push that cost up.
 
June prices compared to January....
CPI up 1.8% annualized
Core CPI up 2.1% annualized
PPI up 0.2% annualized
Core PPI up 1.2% annualized
 
1984X2024 said:
June prices compared to January....
CPI up 1.8% annualized
Core CPI up 2.1% annualized
PPI up 0.2% annualized
Core PPI up 1.2% annualized
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Inflation is up 0.3% for June from the previous month.
 
"Why did God create economists? To make weathermen look good."

PPI just came in lower than all 50 economist estimates on Bloomberg.
 
1984X2024 said:
"Why did God create economists? To make weathermen look good."

PPI just came in lower than all 50 economist estimates on Bloomberg.
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So how often do their estimate misalign with actual?

Also, is a higher amount higher or is it lower?

Does Trump have a mandate to lower prices?
 
1984X2024 said:
"Why did God create economists? To make weathermen look good."

PPI just came in lower than all 50 economist estimates on Bloomberg.
Click to expand...

To quote the Trump administration again:

“Prices for final demand goods rose 0.3 percent in June, the largest increase since moving up 0.3 percent in February. Over half of the broad-based advance in June can be traced to the index for final demand goods less foods and energy, which climbed 0.3 percent. Prices for final demand energy and for final demand foods also rose, 0.6 percent and 0.2 percent, respectively.”

It’s sad that the “thoughts” you get from your Xitter feed agitate you so much.
 
Brace yourself for a stock market drop. Looks like 47 is making a move on Powell
 
Single family home construction starts and permits fell. Construction is a big part of the economy and is very cyclical.

Single-family housing starts, which account for the bulk of homebuilding, dropped 4.6% to a seasonally adjusted annual rate of 883,000 units last month, the Commerce Department's Census Bureau said on Friday. Permits for future single-family homebuilding decreased 3.7% to a rate of 866,000 units.
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The slump in demand has increased the supply of homes on the market, discouraging builders from breaking ground on new housing projects. New housing inventory is at levels last seen in late 2007.
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Not good. The “Great Recession” started in December 2007.
 
MajorRewrite said:
Single family home construction starts and permits fell. Construction is a big part of the economy and is very cyclical.





Not good. The “Great Recession” started in December 2007.
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• Foreign tourists not coming to the U.S. & renting single family homes for their stay.

• Undocumented immigrants either being deported or not working due to fear of ICE, leaving the single family homes they lived / live in unoccupied or their mortgages / rent unpaid.

• House rental companies’, etc, need to jack up the prices for everyone else because of lost revenue.

• Climate change related disasters wiping out whole swaths of houses.

• Low new home construction,

All of that ^ will keep the current high housing prices high, or drive them even higher.

And many people can’t afford to pay rent or buy a starter home as it is.

😑

I don’t think I’ll need to wear shades in the future…

😑

We. Told. Them. So.

🌷
 
Lazaran said:
• Foreign tourists not coming to the U.S. & renting single family homes for their stay.

• Undocumented immigrants either being deported or not working due to fear of ICE, leaving the single family homes they lived / live in unoccupied or their mortgages / rent unpaid.

• House rental companies’, etc, need to jack up the prices for everyone else because of lost revenue.

• Climate change related disasters wiping out whole swaths of houses.

• Low new home construction,

All of that ^ will keep the current high housing prices high, or drive them even higher.

And many people can’t afford to pay rent or buy a starter home as it is.

😑

I don’t think I’ll need to wear shades in the future…

😑

We. Told. Them. So.

🌷
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Very well said. Should be a hard slap in the face to our gutless leaders.
 
heathrowinneo said:
Very well said. Should be a hard slap in the face to our gutless leaders.
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And every bit of the housing problem (and other problems) is on the empty heads of the imbeciles that voted for DonOld & the MAGAt republican "leaders" and their destructive policies.

👎

We. Told. Them. So.

🌷
 

White House budget chief says he's 'having fun' as crucial cancer research axed​



President Donald Trump's chief at the Office of Management and Budget, Russ Vought, confessed that he's enjoying making drastic cuts as his office slashes funding for things like medical research into cures for diseases like cancer and Alzheimer's.
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"He cited the National Institutes of Health, which is currently the premier biomedical research institution in the world, as one agency that 'needs fundamental reform,'" she noted. "The agency has already lost at least 1,200 employees and faces a proposed 40% cut to its budget under the Trump administration."
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When Vought was asked what he meant by "having fun," he answered, "What's not fun?"
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