CPI information from BLS, PCE information from BEA, chart by Mish
Commodity Costs
CPI and PPI information from the BLS, chart by Mish
Client Spending
Retail Gross sales information from Census Bureau, chart by Mish
As soon as once more you possibly can see the affect of free cash.
Putin invaded Russia on February 24, 2022.
Biden’s Preposterous Declare
“What folks don’t know is that 70 p.c of the rise in inflation was the consequence of Putin’s worth hike due to the affect on oil costs. Seventy p.c.”
Washington Submit Wimps Out
The Washington Submit did a Reality Test on Biden’s declare.
That is a kind of intelligent speaking factors that pose a conundrum when doing the Pinocchio Check. Biden’s math is defensible, particularly as a result of his full quote — not the truncated one circulating on Twitter — particularly refers back to the affect of oil costs.
We went backwards and forwards over whether or not some stage of Pinocchios was warranted. We have been tempted to award Two Pinocchios, basically half true. We definitely could be extra snug if Biden had referred particularly to month-to-month inflation figures. However he did seek advice from the invasion that started 50 days in the past. So we are going to go away this unrated and let readers determine for themselves.
Mish Score vs WaPo Score
Footage present Biden is delusional, in an alternate universe Fantasyland, or a a bald-faced liar.
These are your lifelike selections, maybe some mixture.
Dialogue Factors
This submit originated at MishTalk.Com.
