Rampant U.S. inflation accelerated even further in May, with prices rising 8.6% year over year, marking the fastest increase since 1981, the Bureau of Labor Statistics reported Friday.
The 8.6% consumer price index (CPI), a wide-ranging measure of goods and services prices, exceeded the Dow Jones estimate of 8.3%. Excluding food and energy prices, core CPI was up 6%, also above the 5.9% estimate.
On a sequential basis, headline CPI was up 1% while core rose 0.6% vs. the previous month, again running hotter than estimates of 0.7% and 0.5%, respectively.
CNBC:
Stock futures dropped on Friday morning after a highly anticipated inflation report showed a faster-than-expected rise in prices.
Futures tied to the Dow Jones Industrial Average shed 279 points, or 0.9%. Those for the S&P 500 fell 1.1%, while Nasdaq 100 futures sank 1.4%.
The hot inflation reading could lead traders to price in more rate hikes from the Federal Reserve later this year. The 2-year Treasury yield, which is seen as one of the most sensitive to Fed rate hikes, jumped above 2.8% on Friday.
The move in futures comes after stocks fell sharply during Thursday’s regular session, with the S&P 500 and Nasdaq Composite each falling more than 2%. The Dow closed down more than 600 points, losing roughly 400 points during a rocky final hour of trading on Wall Street.
For the week so far, the Dow is lower by 1.9%, on track for its 10th down week in the past 11. The S&P 500 and Nasdaq Composite are both off by more than 2%, on track for their ninth losing week in 10.
In pre-market trading, shares of Apple (AAPL) declined 1.9% to drop below the $140 mark.
MacDailyNews Take:
It was nice of God to allow Jimmy Carter to live long enough to see this. – MacDailyNews, May 19, 2022
‘Tis best to get a handle on inflation, if you know how, while you still can. – MacDailyNews, May 11, 2021
This January, Interactive Brokers founder Thomas Peterffy said, “Inflation is 7% — 1% or 2% [in interest rate hikes] doesn’t mean anything. If they really wanted to stop inflation, they would have to raise rates to 4%, 5%, 6%.”
Inflation is repudiation. — Calvin Coolidge
When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident. — Ronald Reagan
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Carteresque.
U.S. Presidential elections purchased by Mark Zuckerberg have consequences.
What are you? A peurile schoolkid?
Joe Biden is 79 years old – some people can’t even walk at that age. Wonder how you’ll be at 79, if you live that long.
The movie 2000 Mules is confirmed rubbish, speculation and conspiracy theories.
But the likes of you will grasp at any crap to support your Election fraud theories.
Why not rather watch the Jan 6th Hearings currently on TV?
Oh, sorry…I forgot…Fox News is the only major network not screening the hearings.
I could tell you that your Orange-headed narcissist hero is a fraud and an insurrectionist, but of course you know better.
veritas – a scumbag LIAR. Scummmmmm.
Dear Traitor, don’t believe in democracy do you?! All you have is insults rather than intelligent thoughts
Spoken by a fucking idiot who voted for a dementia patient and a whore
All you got is hate!
Yup. Americans hate liburds.
All you have to do is convince Barr, Bobblehead Ivanka, Pence, and 380 electors who followed constitutional process.
Your shrill whines are beyond tiresome, you facking loser.
No, we rational folks on the right believe in REAL Democracy. Not Democrat style democracy stuffing ballot boxes, walking around money and busing homeless people to the polls.
Democrat crooks will lie, cheat and steal an election there are examples in previous elections.
And before some lazy ass woke Dumbocrat asks for an example, it’s your job to educate yourself and not rely on others…
You clearly have no clue how votes are tallied, Goeb. Every ballot is signed and must match the signatures on voter registration. The voter registration rolls are managed by each district, and yes dead people are removed. For every registered voter, only one vote counts. Errors are screened. Voters in most districts can check online to see that their vote was tallied.
The margin of error and fraud are small, and that is proven in court.
But since you’re so concerned, why didn’t you volunteer to work for your local election commission during the 6 years your orange idiot claimed that all elections were false, going back to before he was even elected? If he or you could have gotten off your lazy asses to fix all the imaginary issues, you could have saved democracy from the evil nonpartisan poll workers who busted their butts to ensure fair elections, and PROVED IT IN COURTS over and over against your false assertions.
reality check = BULLSHIT
@ first Sam:
What a compelling response! Can you explain for Goeb how voting works?
Explain how, in a nation of 360 million, some printers in all the close election districts were able to produce perfect counterfeit ballots and hack into the voter registries in every district to add exactly the right number of ghost voters and not one single district in America was able to detect all this massive imaginary fraud, even after recounts and investigations prompted by the sore loser? Turns out after dozens of lawsuits, bipartisan election commissions know what they are doing and trumpet conspiracy theorists don’t.
Your idiot idol wasted millions of taxpayer dollars to prove that he and you are clueless idiots.
Find a meaningful cause on which to fall on your sword, oh bitter keyboard warrior.
So you don’t actually believe in democracy? To wipe out the political opposition is to support fascism. That is literally what Trumpistas have been promoting for 6 years. Not that any of them have a clue what that means.
If the USA is to survive, let alone become “great again”, you extremists are going to have to learn to compromise again. Moderation is the only pragmatic way forward. Your intolerance is the fast way to country decline.
You only support JOEY because JOEY proudly VOTED, on record, alongside racists and segregationists to keep Blacks segregated from whites. The only thing for you that Trumps his quote “I don’t want MY kids to grow up in a JUNGLE. A RACIAL Jungle” is when the White Haired fifty YEARS racist called President Obama the FIRST mainstream African American who was “articulate, bright and CLEAN”.
And of course you knew better, but you simp for him anyway b
Is that all the off-topic mud you could list, sore loser?
Biden didn’t have to be the next incarnation of the savior to handily beat lyin’ Don.
Try fielding an honest candidate if you want to win an election.
Tell me, on a scale of 1-100 how fucking stupid do you need to vote for a lying, corrupt, racist dementia patient? Answer: 100. Very fucking stupid
Funny that you can be that stupid and think you are smart.
Intelligent people didn’t vote for Biden, they voted against corrupt Donnie. On my improved scale of stupidity, you rate one billion.
Trump lost, get on with your life and stop whining. Surely you could find a competent candidate more productive than Tweety next time around.
Honest candidate?🤣🤣🤣
Every word out of Biden’s mouth is a LIE.!!
You believe because the media gives him a 99% PASS, unlike Trump every word highly scrutinized, he is telling the truth?
I pity the poor FOOLS in Biden’s camp. The reckoning is COMING…
Your posts here have long established that you are incapable of telling facts from opinions, or truth from fiction, or hypothetical from actual.
When you come here to say one politician is 100% false while yours is 100% true, then you have identified yourself as a muckraking troll whose word is worthless. Nobody reads what you have to say because it’s already known who paid for your bile filled posts.
Not being able to tell fact from fiction is a defining characteristic of libturd mental illness
@ Sam the Sham:
You keep saying that as if you were coached to do so. It is almost convincing except you can’t define liberalism or conservatism. Using these terms in an absolutist sense is absurd. In a complex modern democratic society, the more meaningful question is whether the billionaire oligarchs will continue to win their dominance over government, media, and natural resources … or will citizens work together to restore a more perfect union?
If you can’t accept that all people have wide varieties of opinions and that yours isn’t the only viewpoint that matters, then the self serving oligarchs’ propaganda has already brainwashed you. There are literally thousands of facets to every issue but you can only represent the party line, no matter how inconsistent and indefensible it becomes. After all, now the Cheney family isn’t conservative enough for you. You don’t know what conservatives are.
@ We are not dealing with a sane person here
Awesome. I could not say it better, that would be YOU…
I don’t care what color anyone’s hair is (I’m bald). I do care that gas cost half as much under the other guy just 19 months ago. Putin my a-s!
What insurrection? Where? When? You mean the unarmed mob that was illegally entered The People’s House or the other unarmed mom that was escorted into The People’s House? Will the fake committee release all of the video footage from the fake insurrection or only heavily edited clips? Will Fancy Nancypants take responsibility for her failure to secure the Capital? That is HER job. Why did Nancypants decline Orange-Headed Narcissit’s offer to bring in the National Guard (that was on Jan 4)? Will the fake committee address these issues? No. Why not?
When you voted, did you drive around to multiple drop boxes on multiple days at 2:00am wearing surgical gloves? I didn’t. Maybe you did.
Is Fox required to air the fake hearings? You wanna watch on another network? Be my guest. Aren’t you glad you can enjoy a wide range of programming?
https://twitter.com/ur1TruthDetect/status/1508568384442675203
In the words of Trump’s handpicked Attorney General Bill Barr: Trump’s claims of voter fraud are BS!
How can you not detect your own bullshit?
It is not BS –Barr said it! Maybe you can find it on the interweb?
Not what Barr said, brainless. Not enough documented evidence to support the claim. One man’s opinion hounded out by the Democrats and the media he is NOW more concerned about saving his career…
Installed puppet Biden is not mentally fit to serve… himself pudding.
Doesn’t matter how much you or Trump cries and spews BS, there was no significant voter fraud, certainly not enough to overturn the outcome. Time to deal with facts rather than conspiracy theories!
Someone stupid enough to vote for a dementia patient thinks there was no voter fraud. Isn’t that special
Isn’t it special that you believe with no evidence? Isn’t it special that that many Trump appointed judges would not even hear these cases? isn’t it special that Guiliani and Trump’s other lawyers were mute within the courtroom while spewing nonsense outside of it?
Lots of evidence but you are too stupid to see it and the politicians and judges are too corrupt
Only fucking idiots believe otherwise
So much evidence that nobody can refute…. Sad 😀
Yep… now America is “dealing with the facts.” Look around at all the s–t happening. Crime, prices, border. Yep.. these are the sad facts. Can’t wait til Nov and ’24
Crime is a local law enforcement agency issue.
Prices are a war issue, affecting everyone around the globe.
The border has been a dumpster fire for 300 years, with neither party doing squat to reform immigration law.
Next?
What are you kidding me you’re a liberal joke the January sixt hearings a.k.a. the movie display put on by the trash of this country. Every single Democrat that is running in November should lose that’s what needs to happen
History will show that every Republican that backed Trump and his Big Lie was a traitor and should have been jailed
So one party mob rule is your preference? Even Pence backed away from the cliff. Sad you can’t see reality when the hearings make it so crystal clear for you.
You are confirmed rubbish. Why did you decide to vote for a 79 year old career lying thug criminal?
As opposed to a 76 year old lying criminal that did nothing but lie, golf, tweet, and grift off taxpayers for the last 4 years?
Americans dumped Don with just cause. You will feel better after you stop pouting, honey.
You need to cite specific sources that “confirm” rubbish, speculation and conspiracy theories. The earth being round was once a conspiracy theory. You need hard proof that the CCTV footage was fake. Instead of bringing facts, you fall back on name calling. You apparently haven’t seen the documentary.
Yes, the January 6, 2021 riots at the capitol were real. Do you believe the CCTV there?
The court of law has already judged on your mule theory. It’s full of mule shit, and you think staged videos from a known political agitator that are only shared over a year after the supposed incidents is proof of anything. Just shows you are grasping at straws to defend liar in chief. What’s the pay rate for being a stooge to the fat man?
Libturds are totally clueless regards the words they use and the concepts they drool about.
Racism is just one example.
They vote for a proven racist, then claim republicans are racists.
https://abcnews.go.com/Politics/video/joe-biden-school-busing-amendment-1977-64016335
They “think” (if they could think, they would not be libturds) gas prices have nothing to do with the dementia patient occupying the White House, right after he shuts down a major pipeline.
The examples are endless.
Libturd stupidity would be hilarious if it were not so sad and destructive to the country.
Just shy of one and a half months ago AAPL was at $182/share. Since the investors have absolutely DESTROYED the stock. Massive, relentless, wholesale liquidation of institutional holdings has occurred. Volume levels to the downside are at record levels for AAPL.
Tim Cook’s famous stock buy backs have done NOTHING to support shareholders. 200 BILLION dollars has been spent on stock buybacks the past few years. All that money is now is gone. Incinerated. Completely and totally destroyed. The ONLY people who retained that money are the shareholders who CASHED OUT. Sold. Gone. The traders took the money and ran. Those who held on, the long term shareholders have been forced to watch their portfolios drop week after week after week. All that buy back money just incinerated.
Thanks to the feckless TIm Cook. The LEAST inspiring, LEAST innovative CEO in Apple history. The Tim Cook knob slobbers will one star this post but that makes me HAPPY, because i’ve upset them. They can continue slobbing Cook’s knob but they cannot ever be RIGHT.
Pre market data shows another route to AAPL coming. The relentless selling of AAPL is still ongoing, destroying shareholder value.
It doesnt matter the Apple’s revenues are huge. It doesnt matter that Apple is hugely profitable. Investors know that the feckless Tim Cook is just riding Steve Jobs’ coat tails. Investors realize that Cook is a cretinous ape. The Tim Cook knob slobbers can’t change this fact.
Tim Cook, Steve Jobs’ biggest and worst mistake. EVER.
FIRE Tim Cook!
The money spent on buybacks is NOT gone – it has reduced AAPL’s P/E ratio! Lower share price in short term will make Apple stronger in long term. Money spent on dividends is truly gone, paid out to shareholders that may or may not have sold their shares
Another feckless knob slobbing Tim Cook sycophant. The amount of stupidity in your brief post is simply staggering. Exactly what I expect from a right wing piece of shyt nut job.
Apple is more than enough cash for research & development among other things. Why should Apple sit on a mountain of cash making near zero return? Consequently, why not Apple not benefit longterm shareholders with buybacks?
Also, I am able to hold back petty insults and you should be able to do the same
Another progressive name caller that hates logic and argument. Your main weapon is personal attacks and censorship. The truth don’t care about open discussions, debate and the market place of free ideas.
The only political elements that rely on censorship are right wing. That is historical fact.
The brownshirts of history have always used fear and intimidation to gain power and crush dissent. Mob violence on Jan 6 2021 at the capitol was no different. Trumpet’s willingness to let a mob kill Pence in order to extend his reign is absolutely treasonous. The cameras don’t lie. The witnesses aren’t lying.
You can’t escape reality even if you soak your head in Tucker Carlson’s and the other gang’s endless misdirection.
Truth does die without freedom of speech, that’s why the authors of the Constitution explicitly added that protection to all citizens. Not just the armed mob.
The lower the share price, the more shares that Apple can buyback and the greater number of shares can be reduced from the company’s outstanding total.
Libturds should be sent to re-education camps, because it obviously didn’t work the first time.
Americans are due reparations from Libturds due to the economic damage caused by their stupidity.
Sent to camps? Spoken like a true right wing fascist. At least you nut jobs don’t hide. Anyone and everyone can see your America hating evil.
He’s quoting, repeating BACK to you what FASCIST democrats said, on video.
FASCIST, like you, who side with a government that MANDATES that citizens be FORCED to use products from billion dollar corporations.
You do understand that that’s the DEFINITION of FASCISM, right? You FASCIST.
EVERYONE can see you need a dictionary.
The depth of libturd stupidity is staggering
The prevalent depth of conservaturd stupidity has been reinforced and encouraged by the Ex-Idiot-in-chief.
Sadly the USA has degenerated into a polarised cesspool of hatred and blindness – on the part of right-wing brainwashed imbeciles around the country.
It’s also sad that there isn’t more pushback from intelligent and enlightened people on the left, who seem happy to complacently ignore the threat from the MAGA GOP.
On all sides, the USA seems totally F**KED. Pity. It used to be great country.
Yet again, the depth of libturd stupidity is staggering
You keep mumbling the same hate filled rubbish here everyday. If you’re that mentally deranged, seek psychological help.
Yes, because liburds continue to exhibit extreme stupidity ever day. They need constant reminders of their stupidity. Its a public service
And yes, Americans despise libturds every day,
I don’t hate America,I hate fucking libturds too stupid know that they are destroying the country
It’s obvious, but you are too fucking stupid to understand that simple concept
So you do hate the Constitution. You support a lying leader wannabe, you demand without proof that the constitutional election system be overturned for your orange idol, and you think mob violence is better than peaceful democratic transition of leaders. Then you come to a tech blog to demand the nation adopt single-party rule, just like China.
You need psychological help.
Members of what political party were/are burning down the country with “mostly peaceful’ protests?
And you wonder why American think liberals are dumber than a pile of dog shit?
The Proud Boys Party of Trump.
Since you’re so smart, maybe you could tell us how many capitol security officers were injured on the job that fateful day. Then tell those honorable patriots that they don’t matter. Go ahead, we’ll wait for you to get the facts. You might have to seek other sources besides your Murdoch & Mercer propaganda outlets.
Anyone who takes the side of armed insurrections against the Constitutional democracy that we pledge allegiance to in school deserves just punishment. Don’t play stupid now Becky/FirstSam.
Time to look Stupid in the mirror
and Mexico will pay for the wall 😀
Putin is the one to blame, right Joe?
Everyone with an iota of common sense can see that Putin’s invasion is by far the biggest factor driving up global inflation. But it certainly didn’t help that the former idiot in chief ripped up every trade agreement that the US had. The carnage on US supply chains was apparent even before voters dumped the chump. Not that this site would ever admit plain facts like that.
Trump’s tweets were so mean (and mostly spot on)
What was the average? About 30 verifiable lies per day from Ol’ Don? The guy made it up as he went along and you were stupid enough to believe his tough working man savior act. He set back working classes years, bankrupted farmers, screwed over contractors, and defrauded investor his whole life. Get a fscking clue. Slimeball Don will never be elected for any office ever again. Even the tattered shreds of the GOP establishment will oppose him, starting with McConnell, Pence, the military, the religious, and the preceding several GOP presidential administrations. Don lied to them all too many times.
The only groups that still support Don are the Oath Keepers, Proud Boys, KKK, KGB, MDN and their ilk. They’re too stupid to know which way the wind is blowing.
Highest inflation in decades
Highest gas prices in decades
Stock market crashing
Economy in the toilet
Etc, etc, etc
All because of the stupidity of libturds, you stupid, stupid fuck.
Who knew that Putin and oil producers were libs? They’re the ones restricting supply and gouging you. You could understand that if you educated yourself.
If you are here only to paste hate labels on other groups, you’re lost.
Those spots were grease from Dumpty’s hamberders.
Dementia Joey handing it back to Trump on a platter……oooops……great unifier…..ooooops
Trump’s new message—-
Miss me yet?
Told ya so….!!
PS– Pro-tip– Apple is on sale……Luca M. and Uncle Warren are buying….
https://media.patriots.win/post/b6QczvMzkcNW.jpeg
A useless president and administration this country is a mess and it’s a damn shame
I agree, Trump drove world trade into a ditch and actively spread covid misinformation instead of supporting the scientists who worked for him. Such a shame so many Americans believe his lies. It’ll take years to pull out of the dumpty downturn.
lmao the irony of quoting Reagan, who tripled government debt by insane levels of spending (surprise, it didn’t lead to inflation).
Actually, spendaholic Reagan did preside over historic high inflation and at least two recessions. If you blame Carter for handing Reagan a bad situation, then you need to blame witless tweety for the present inflation too. In the late 1970s it was Iran and OPEC causing economic pain, today it’s Putin and , tada, the price gouging oil despots again.
But you all keep bashing each other, it’s real entertaining to watch American idiots argue who needs to carry the bucket to put out your dumpster fire. This site demonstrates how stupid your politics are.