PAINE IN THE MORNING: 10 things you need to know this Thursday – May 13th 2021 (LISTEN)

Share:

There is also a full, ad-free video podcast of this broadcast available on True Pundit’s Patreon Page and/or True Pundit’s SubscribeStar.com page for our subscribers to help us do what we do.


Consumer Prices Increase 4.2% To The Highest Level Since 2008 – The consumer price index has jumped 4.2% over the last 12 months, the fastest pace of inflation since 2008, according to a Department of Labor report.

The consumer price index (CPI) increased 0.8% between March and April, according to the Labor Department report released Wednesday morning. Economists projected that the CPI increased by 0.2% last month and 3.6% over the 12-month period ending in April, according to The Wall Street Journal. – READ MORE


Biggest Rise In Consumer Prices In More Than A Decade Is Understated By Half –Inflation has arrived, evident by the 4.2% gain in the consumer price index over the past twelve months. But the most significant increase since 2008 still is not fully capturing “experienced” inflation since it is missing the rise in housing inflation.

The Bureau of Labor Statistics reported that April consumer prices rose 0.8% from the prior month. Also, the widely followed core prices (which exclude food and energy) rose 0.9%, pushing that sub-index to a 3% gain in the past twelve months, the biggest increase since 1995.  – READ MORE


US Core Consumer Prices Explode Higher At Fastest Pace Since 1981 – After March’s blowout 0.6% MoM surge in headline CPI, analysts expected a modest slowdown MoM, but surge YoY due to the base-effect comps from April 2020’s collapse. However, it appears analyst massively underestimated as headline CPI surged 0.8% MoM (4 times the +0.2% expected) and exploded 4.2% YoY. That is the biggest YoY jump since Sept 2008 (and biggest MoM jump since June 2008)

Core CPI was expected to rise by the most this millennia, but it was hotter than that. The index for all items less food and energy rose 3.0% over the past 12 months; this was its largest 12-month increase since January 1996… and the MoM jump of 0.92% is the biggest since 1981 – READ MORE


Biden’s Energy Secretary Makes Stunning Admission About Pipelines – On his first day in office, Joe Biden canceled the Keystone XL pipeline, and all the energy and jobs it would provide, claiming it didn’t serve the “national interest.”

But on Tuesday afternoon, Biden’s own energy secretary, Jennifer Granholm, made the stunning admission that pipelines are the safest way to transport oil. – READ MORE


Biden’s energy secretary blames COVID-19 for soaring gas prices, but oil industry expert points at Biden – Energy Secretary Jennifer Granholm is blaming the pandemic for soaring gas prices.

Since President Joe Biden took office on Jan. 20, the national average gas price has soared more than 50 cents. As of Friday, it stood at nearly $3 per gallon — $2.96. The average was $2.38 per gallon when Biden took office, and $2.11 per gallon on Election Day last year. – READ MORE


Gretchen Whitmer Orders Canadian Pipeline To Shut Down Amid Gas Shortage – Gov. Gretchen Whitmer (D-MI) has ordered a Canadian energy company to shut down an oil and gas pipeline that runs through the Straits of Mackinac, claiming the pipeline is a “ticking timebomb” even though the company says the line has never leaked into the straits.

The Guardian reported that Whitmer told the Canadian company, Enbridge, to shut down the pipeline known as Line 5 by Wednesday due to activist fears that it could spill any day. The pipeline has operated for nearly 67 years and, according to Enbridge, the portion of the pipeline that runs through the straights has never leaked. A different Enbridge pipeline spilled 845,000 gallons of oil into Michigan’s Kalamazoo River back in 2010. – READ MORE


Satellite Imagery Captures Thousands Of Unfinished Ford Trucks Stashed At Kentucky Speedway – Satellite images obtained by The Drive paints a clear picture of the chip shortage shitshow impacting Ford Motor Company.

Thousands of Ford trucks with missing semiconductor chips are parked at Kentucky Speedway, a 1.5-mile tri-oval speedway in Sparta, Kentucky, which hosts NASCAR and Indy Racing events. – READ MORE


‘Economist’ Proposes “Re-Employment Bonus” To Bribe Government-Sponsored Couch-Sitters To Get A Job – Despite the best efforts of our friends in the mainstream media to deny it, this is a trend that we’ve been tracking for more than a month now. As the pandemic fades and employers reopen their doors, many are finding it hard to bring back their previous workers or attract new, qualified applicants.

It’s been reported in South Carolina and in Massachusetts. Many of the former workers who have been interviewed have admitted that federally enhanced unemployment benefits are simply too good to walk away from, particularly when their old jobs may not be around if another surge in COVID pops up. – READ MORE


US Spends 90% More Than It Collects In First 7 Months Of Fiscal 2021 – With “base effect” all the rage this month, moments ago we also got the 1-year anniversary of the Covid crash in the US budget deficit dataset when the Treasury reported the April government revenue and spending. And while the data in isolation wasn’t pretty, it was absolutely stellar compared to last April’s blowout $738 billion deficit.

Last month, the US collected $439.2BN in receipts, a solid improvement to the $267.6BN in March and 81.6% higher than the $241.9BN in receipts collected last April when the US economy was in freefall. Of note: $7.2BN of the money collected by the Treasury included $7.2BN in Fed remittances from “profits” on the Fed’s QE. – READ MORE


Pets adopted during the pandemic are being returned at record numbers: report – Pets are not supposed to be fads.

Reports of a troubling trend have begun to surface across the country of large numbers of people returning pets that they adopted during the pandemic. Apparently, as things begin to return to normal, people are realizing that they may not be as prepared for the pet as they thought they were.

Shelters across the United States are seeing higher than average rates of returns, the BBC reports. About a year ago, these same shelters saw a spike in adoptions as people faced lockdowns due to the pandemic. – READ MORE

Share:
No Comments Yet

Leave a Reply

2021 © True Pundit. All rights reserved.