Summary

Inflation in the U.S. rose 3% in January, with rent alone accounting for 30% of the increase.

Egg prices soared due to avian flu, worsening grocery costs.

Despite pledging to lower prices, Trump blamed inflation on Biden and foreign countries while avoiding specifics on his plan.

In a Fox News interview, he dodged questions about when prices would drop, instead citing trade deficits. The White House press secretary confirmed that the administration has no clear timeline for addressing the rising cost of living.

  • Naz@sh.itjust.works
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    7 hours ago

    Damn, Joe Biden is so powerful that he’s still president and responsible for gas prices (/s) even though he’s not president anymore

  • CharlesDarwin@lemmy.world
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    6 hours ago

    I wish there was a NGO that was handing out donvict and fElon “I did that!!!” stickers to put on EVERYTHING.

  • roofTophopper@lemmy.world
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    8 hours ago

    There was an article about how interest rates raise to 3%. Seeing the comment section was wild. It was all Biden’s fault because Trump was only in office for three weeks. Don’t mind that he’s been spouting off tariff talks since last year.

    However, anything good that happened, even prior to Trump taking office, was his doing.

  • Arghblarg@lemmy.ca
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    1 day ago

    I hope Canada applies a massive export tax to oil & gas… and redistributes the revenue to steel and aluminum workers here to ease the effect of the tariffs on same.

    Make the US people feel higher gas prices and they’ll turn against him. History has shown this is the best way to sink a president and his party’s support.

    • pivot_root@lemmy.world
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      1 day ago

      If the past month has been any indication of the next 47 of them, Canada might want to start negotiating long-term trade deals with Europe and China while also significantly cutting back on trade with the United States.

      1. Trump has suggested he wants to use economic pressure against Canada.

      2. Trump has “joked” about Canada becoming the 51st state.

      3. Like with blackmailers, once you give into the first demand of someone using threats as a bargaining chip, they come back asking for even more.

      Canada seems to have something we need (oil, natural resources). They’re well within their rights to treat us as a hostile nation and show the assholes in power that they need to play nicely in global politics more than they think they do. With the way things are going, the average US citizen is probably fucked either way, so it’s not like it’s going to harm anybody but the oligarchs in the long run.

      • WhiskyTangoFoxtrot@lemmy.world
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        3 hours ago

        Start? That’s what we’ve been doing for months. Our Prime Minister is just now returning from a European trip largely devoted to forming new trade deals. We’ve also been working to break down trade barriers within our country (there were a lot of difficulties in trading between provinces before, which made it easier for everyone to just trade with the US instead) and preparing targeted tariffs of our own to hit Trump and his supporters where it hurts the most.

        We’re not taking this lying down and never have.

      • Arghblarg@lemmy.ca
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        1 day ago

        Thank you for being open to the possibilities of that. I wish none of this were happening and feel for those in the US who are going to have to endure what is to come. I can only count myself fortunate I’m not actually there, and only adjacent.

    • empireOfLove2@lemmy.dbzer0.com
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      1 day ago

      The sheer instability of the past month had already driven gad prices up about 30c/gal where I am, even as oil prices have dropped overall since jan20th. Oh it’s coming for sure.

    • ryper@lemmy.ca
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      1 day ago

      Danielle Smith would probably throw at fit if the federal government proposed that plan. Her sucking up to Trump got her a lower tariff rate on oil and she absolutely will not accept anything that would make the oil industry feel the same pain as the other industries affected by tariffs.

      • Arghblarg@lemmy.ca
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        1 day ago

        Yeah, well fuck her IMHO. And the oil companies too. They’re rich enough to endure a few months of economic leverage applied where it counts. If they squeal (and we know they will), well then they need to be called out and forced to publicly take a side in this whole situation.

        EDIT: uncensored :P

    • givesomefucks@lemmy.world
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      1 day ago

      Make the US people feel higher gas price

      It’s why I spent four years saying rather than tax incentives for electric vehicles, we need to just level the playing field and take away gas subsidizes. But good luck getting either party here to hurt fossil fuel profits. Both our options this election were pro-fracking.

      It’s fucking insane that we can’t socialize healthcare, but everyone needs to pitch in so Bill can drive his giant truck an hour to sit at a desk for 8 hours twice a day.

      There is literally zero reason for gas subsidizes when we’re trying to get people to move on from gas.

      • adarza@lemmy.ca
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        1 day ago

        the per capita health care expenditure for the american for-profit capitalist system, that doesn’t even cover everyone–or everything, is at least 2x that of other ‘western’ nations that have national health care systems.

        single payer, tax funded health care for all would literally pay for itself just from taking what’s already being spent on health care and putting it into the new program.

        subsidies for oil or any other industry are not taking money away from that non-existent health care system. it doesn’t need any.

      • baronvonj@fedia.io
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        1 day ago

        Reliable, ubiquitous, affordable public transportation is an impediment to segregation via gentrification and suburbs. So Republicans won’t promote that.

      • NuXCOM_90Percent@lemmy.zip
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        1 day ago

        This is america.

        We are going to build hellhole dormitories for workers to live on site at the kroger LONG before we acknowledge that investing in public transportation would have benefits.

        Oh, and we’ll probably buy a shit ton of teslas so that every county is required to have a fleet for “special” employees.

      • Arghblarg@lemmy.ca
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        1 day ago

        Hah! That’s a good one. Public transportation is SOCIALISM remember? And it would help poor and/or brown people so they’d never seriously do that.

    • Flying Squid@lemmy.world
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      3 minutes ago

      No, see, it’s because of bird flu. You know, the same thing that happened under Biden when eggs were half the price.

      And how can you possibly blame Trump just because he promised to make egg prices lower over and over?!

    • ryper@lemmy.ca
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      1 day ago

      Please ignore that the president is ruining any government organization that could help get bird flu under control

      • CharlesDarwin@lemmy.world
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        6 hours ago

        Think of that image as short hand for some elitist thought leader in the Grievance Industry Complex dumping that into their skull so they can mindlessly parrot it later.

    • TransplantedSconie@lemm.ee
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      1 day ago

      I have it on good authority that the reason why egg prices are so high is because joe biden killed a hundred bazillion birds in order to drive egg prices up just before trump took office.

      • sepi@piefed.social
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        1 day ago

        I saw joel bidens himself killin chickens left and right… he must have been tired after that

  • IninewCrow@lemmy.ca
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    1 day ago

    Country elects an idiot to fix their economy … idiot makes economy worse … country wonders why

    • grue@lemmy.world
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      1 day ago

      Stop giving Trump too much credit. President Camacho from Idiocracy was an idiot. Trump is worse than that: he’s malicious and deliberately causing crises in order to excuse further consolidating his dictatorial power.

      To call Trump an idiot is, paradoxically, to carry water for him.

      • TexasDrunk@lemmy.world
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        22 hours ago

        President Camacho pardoned Joe Bauers who then became president. He showed that, even though he’s an idiot, he’s capable of making the right decision for the country.

    • huginn@feddit.it
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      1 day ago

      If the government slaps a 25% increase on the price of your imports then you expect a 25% increase on the price (assuming you’re selling imports directly - like PC parts).

      It’s not rocket surgery.

    • AmidFuror@fedia.io
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      1 day ago

      Not necessarily. But I’m curious what’s the equivalent on the utopian alternative to capitalism. Is there currency at all, and if there is, does the government set prices and the exchange rate like in the former Soviet Union?

      • partial_accumen@lemmy.world
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        1 day ago

        But I’m curious what’s the equivalent on the utopian alternative to capitalism. Is there currency at all, and if there is, does the government set prices and the exchange rate like in the former Soviet Union?

        In all definitions of a utopian society I think we’re talking about a post scarcity world. If you’re casting far enough into the future, we have infinite supplies of clean energy and technology to take that energy and directly turn it into any kind of matter we desire (like Star Trek replicators). At that point, why would your society need money?

        Obviously there are lesser versions of that of post-scarcity where at least anyone’s basic needs are met (food, shelter, clothing, healthcare), and anything you want beyond the basics would require extra effort on the part of the person. This version would have something like UBI (Universal Basic Income) and, yes it would have money. There wouldn’t really be a need for any kind of price fixing because anything you’d want to buy would not be required for life or health. There would also be no requirement to work if you are satisified in life with just food, clothing, shelter and healthcare.

  • errer@lemmy.world
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    1 day ago

    I guarantee the CPI will stop being published very soon. Can’t have high inflation if you don’t measure it!

  • snekerpimp@lemmy.world
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    1 day ago

    The narcissist’s prayer:

    That didn’t happen. And if it did, it wasn’t that bad. And if it was, that’s not a big deal. And if it is, that’s not my fault. And if it was, I didn’t mean it. And if I did, you deserved it.