July's PPI Rises by 7.8%

[Satoshi Popinjay]

Wholesale price increases. July's Producer Price Index (PPI) rose by a record 7.8% over the year.

Wholesale ENERGY prices rose by over 33% over the year.

Goods by nearly 12%.

Food by 9.5%.

[risky biz]

This is inadequate data for imbecilic Blabbermouth. What's the weekly change in a recent week when it went down from the previous week and then annualized? He claims he has a degree in Sociology so he must know what he's blabbing about.

[Satoshi Popinjay]

On Thursday, August 12, 2021 at 7:34:47 PM UTC-7, risky biz wrote:

> This is inadequate data for imbecilic Blabbermouth. What's the weekly change in a recent week when it went down from the previous week and then annualized? He claims he has a degree in Sociology so he must know what he's blabbing about.

Here's something pretty funny. I would not be surprised if BillBlab defends this. You probably heard that Biden says all the new government spending will LOWER inflation. lol Is that rich or what?

[BillB]

I have said all along that the increased government spending and debt is inflationary (which is why I predicted short-term inflation around 5%), but, theoretically, it is definitely possible for increased government spending to lower inflation. It depends what is causing the inflation and what the spending is used for. And by inflation, I mean the word as it is used in the modern world by economists and educated people everywhere, not your preferred definition from the Dark Ages of economics.

I'm sorry, but I am not aware of what Biden actually said or what his rationale was for saying it, so I can't comment on those specifics. As you know, I am a strictly objective facts and logic person. Without all the prerequisite relevant facts, I can't possibly apply my superior logic skills to the question at hand.