A new CPI number came out at 8.6% for the month of May. This was the highest inflation number since 1981. Prices on everything went up. It’s actually the highest number in 40 years. This is not a recovery. Total employment today is 800,000 LOWER than it was in 2020. This is not even a catch-up of where we were before. If you take the trendline from February 2020, we’re 5 million jobs short of where we should be. This is a catastrophic economy.
“Just out, really bad CPI – 8.6%. Worst number since December, 1981. Employment numbers 6,000,000 lower than it should be! I told you so. Should never have happened!” – Donald J. Trump
- US mortgage applications are in “meltdown”, according to an economist, and the threat to house prices is growing.
- The Mortgage Bankers Association’s index of applications tumbled again last week and has fallen dramatically since January.
- Pantheon Macroeconomics said the chances of a “short period of clear declines” in home prices are growing.
- US mortgage applications are in “meltdown” as borrowing costs shoot upwards, and the threat to house prices is growing, according to the consultancy Pantheon Macroeconomics.
- Skyrocketing U.S. gas prices are affecting Americans in their day-to-day life, forcing them to cut back in certain fundamental areas, including driving, a Rasmussen Reports survey released Thursday found.
According to the survey, 66 percent said they are actually driving less because of rising gas prices — a seven-point rise from the 59 percent who said the same in March. Further, a majority, 57 percent, of U.S. adults say the ever-rising price of gas has affected their vacation plans, while just over one-third, 36 percent, said it has not. — Per Rasmussen Reports:
Eighty-two percent (82%) say rising gasoline prices are a serious problem for their personal budget, including 60% who say higher gas prices are a Very Serious problem. These findings have changed little since March.