NM: Wholesale Inflation Accelerates on Higher Gas Prices


NewsMax posted:

Wholesale Inflation Accelerates on Higher Gas Prices

September 14, 2023

U.S. wholesale prices increases accelerated in August, a sign that inflation remains stubbornly persistent despite a series of sharp interest rate hikes by the Federal Reserve.

The Labor Department said Thursday that its producer price index (PPI) — which measures inflation before it hits consumers — increased 1.6% last month from a year earlier. That is up from a small 0.8% yearly increase in July and just 0.1% in June. Sharply higher gas prices drove much of the increase.  …

For now, inflation remains far above the Fed’s 2% target, and the small pickup in wholesale prices last month underscores that further declines in inflation will be bumpy and uneven. https://www.newsmax.com/finance/streettalk/inflation-economy-federal-reserve/2023/09/14/id/1134435/

As far as gasoline prices go, the cheapest price per gallon for regular unleaded I saw on my drive to the office today was $5.799 and the highest was $6.399.

As far as inflation goes, in July, I properly asserted: Inflation will return.

Now, consider that last Fall, the head of the US Federal Reserve said he basically needed to cause other people pain to reduce inflation:

September 22, 2022

WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. …

“We have got to get inflation behind us,” Powell said. “I wish there were a painless way to do that. There isn’t.”

Powell’s remarks followed another substantial three-quarters of a point rate hike — its third straight — by the Fed’s policymaking committee. https://apnews.com/article/inflation-jerome-powell-unemployment-government-and-politics-96092b0d276a604b3c1e83f44b8e2ec9?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_04

Chairman Powell’s claim that there was not “a painless way” to get inflation behind us is not quite the case.

As I posted last Fall:

The government of the USA and various of its states could easily change rules to allow more drilling of oil off the Gulf and California coasts, as well as in Alaska, plus open the Keystone pipeline. That would result in a massive reduction in the price of oil and fertilizers, plus would also reduce transportation costs. The governments could also provide incentives for more food production, which would lower food costs.

Yes, cutting energy costs and increasing food production would reduce inflation. Also, that would not result in net job losses, but in job gains.

Yet, instead, the Fed plan has been to increase interest rates (which have been artificially low) in an effort to slow down the economy, increase unemployment, and reduce wage demands.

Those in the Fed, the US Congress, or the Executive Branch of government do not believe that the Fed’s actions will cost them their jobs–mainly only the jobs of the non-elite will be lost.

Nationally, more could be produced. Internationally, more could be produced.

Yes, if there is more supply this would help reduce the inflation rate as well as generally improve the economies of those that produce more.

Yesterday, Tucker Carlson tweeted about hyperinflation as the tweet at the beginning of this post shows. Here is something related to that:

September 14, 2023

Tucker Carlson, former Fox Television Host personality, … embarked on an eye-opening journey to Argentina to caution Americans about the potential perils of “hyperinflation” and “reckless monetary policies.”  …

“Hyperinflation and reckless monetary policy could soon devastate the global economy. We traveled to Argentina, where it’s already happened,” Carlson wrote to Twitter. “For politicians, money is power. They always crave more, but because they don’t actually produce anything, they’ve got limited ways to get it,” he said. https://www.benzinga.com/markets/cryptocurrency/23/09/34575014/michael-saylor-thinks-tucker-carlsons-new-episode-on-hyperinflation-shows-why-we-need-bitc

Argentina has a history of massive inflation and currency devaluation.  Notice the following:

September 13, 2023

BUENOS AIRES, Argentina (AP) — Consumer prices in Argentina soared 12.4% in August, compared to the previous month, the highest rate since February 1991, a number that puts the government on the defensive a little more than a month before presidential elections in which a right-wing populist who admires Donald Trump appears the favorite to win.

Argentina’s annual inflation rate rose to 124.4%, according to figures released by the government’s INDEC statistics agency Wednesday.

Argentina has been suffering from galloping inflation for years, but August marked the first time in more than two decades the monthly rate reached double digits, a phenomenon that is likely to be repeated in September, according to economists. https://apnews.com/article/argentina-inflation-massa-milei-bullrich-b7bc9e0b33c05833d0ccb6b1614b086c

That said, the Bible points to food shortages and food price inflation:

5 When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. 6 And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” (Revelation 6:5-6)

The prophecy of the third horseman of the Apocalypse is starting to come to pass.

If government leaders believed the Bible, they would be willing to take a lot of steps that they seemed to have overlooked.

Related to inflation, the Continuing Church of God (CCOG) put together the following video:


Inflation: When Money Fails

Inflation has been higher in 2022 than it has been for decades in the USA, Europe, and many other lands. What are some of the disruptions that inflation can cause? What about hyperinflation affecting places like Venezuela? Did the Book of Haggai predict inflation? Is food price inflation associated with the ride of the third horseman of the Apocalypse? Does sin and government mismanagement cause inflation? Are there physical things one can do about inflation? What about storing food or buying gold? Will gold outlast the USA dollar? Why might some throw their gold in the street as Ezekiel prophesied? What should God’s people do about inflation? What did Jesus teach about food worries? What about seeking the Kingdom of God? Steve Dupuie and Dr. Thiel cover these matters.

Here is a link to our video: Inflation: When Money Fails.

In the world, we see a lot of economic uncertainty.

But, the kingdoms of this world will be replaced when Jesus returns.

That hope is very good news.

Some items of possibly related interest may include:

Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection. A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? Two related sermons about this are also available: Real Repentance and Real Christian Repentance.

Tithing Questions and Some Answers Answers questions about tithing and also addresses some non-biblical arguments against tithing. Should people tithe?Here is a link to a related sermon: Tithes and Tithing. Here is a link to an older sermon: Tithing Answers from the Bible.Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? Two videos of related interest are Beast Prophecies and European Gold and Germany, Gold, and the US Dollar.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?
Will the Anglo-Saxon-Celtic Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future. A sermon of related interest is also available: Canada in Prophecy.
Australia and New Zealand in Prophecy Do biblical prophecies help explain the wealth blessings for Australia and New Zealand? Might cursings from disobedience come in the 21st century? Here is a link to a related sermon: Australia and New Zealand: Origins and Prophecy.
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2031 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. It is available in hundreds of languages at ccog.org. Here are links to four kingdom-related sermons:  The Fantastic Gospel of the Kingdom of God!, The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.

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