I'm not surprised by, but I am disgusted by the bias of the "moderators" especially Muir.
Stopped watching ABC years ago. except for football!<>
Yes, and at least some of this should backfire on ABC and the democrats.
Let's all remove ABC from our TV selectors.
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And a critical factor to that chart is that inflation is always cumulative...if/until that blue line dips below 0% and we enter a deflationary condition, which carries with its own set of potentially bad things.
A handy site to see what the closer-to-real-world effects are year over year is usinflationcalculator.com. It's currently using the numbers from August 14. Inflation even took a short dive right after Biden was sworn in, but overall between December 31, 2019, and August 14, 2024, the Biden/Harris administration has given us a 23% cumulative inflation rate. What cost us $1.00 in December 2019 now costs us $1.23.
Don't know about everybody else, but my income hasn't gone up 23%.
And I am a total idiot. Last February I'd decided I wanted to buy some gold...the price was about $2,050 per ounce. And then it started to go up at the end of February. I held off; didn't want to buy while it was on the rise and then lose a chunk of the investment when it started to come back down.Hang on to your wallet. Going to get rough. This article is very correct.
I bought a little when it was in the $1900 per oz range.........glad of it nowAnd I am a total idiot. Last February I'd decided I wanted to buy some gold...the price was about $2,050 per ounce. And then it started to go up at the end of February. I held off; didn't want to buy while it was on the rise and then lose a chunk of the investment when it started to come back down.
By mid-April it was at $2,400. Came down about $100 by the beginning of May, but I cleverly thought that, nah, I'd wait until it got back to $2,200 or below. Hasn't gone below $2,300 since.
On September 3 it was $2,523. At close yesterday it was $2,646. So in a little over six months the per-ounce spot price has gone up 29%! While I continued to sit on my thumbs. Stupid! And I don't expect it to come down any time soon. The threat of Camela in the White House is going to keep it jacked, and even if Trump is elected we'll still have a long road to correct all the damage that's been done during the Biden/Harris administration.
Not a bad ROI. If Harris wins, it wouldn't shock me if the price tops $2,800 or $2,900 by the time she's sworn in. I'd much rather Trump win and bring some sanity back to the economy. But even then--sorta like the Reagan years--we're gonna have some pain before the ship gets righted again. Gold is going to stay high. It's right at $1,000 higher than it was at the start of November 2022. The overnight $100 bump was, IMO, because investors saw right through the unmerited (and seemingly blatantly pre-election partisan) 50 basis points that Jerome Powell spearheaded.I bought a little when it was in the $1900 per oz range.........glad of it now
And it's not hyperbole.We must re-elect Trump because the alternative is simply a disaster.