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Known for his network of conservative Web sites that draws millions of readers everyday, Breitbart had one main goal: to make sure the "liberally biased" major news outlets in this country cover all aspects of a story fairly. Breitbart is convinced that too many national stories are slanted by the news media in an unfair way. Here, Breitbart talks about the key issues that Americans face, how he has aligned himself with the Tea Party, and how one needs to deal with the liberal news world head on.

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The Delta Variant of Inflation

                                                           
The dominant story in the U.S. economy right now is the worsening of the supply chain disruption.
 
  
Breitbart Business Digest
October 23, 2021
 

Today's Top Stories From the Breitbart News Desk

The dominant story in the U.S. economy right now is the worsening of the supply chain disruption.

Some quick facts:

  • Far from easing following President Biden's announcement of an agreement to extend port hours, the congestion at the Port of Los Angeles and Port of Long Beach grew from 97 ships to at least 100.
  • Auto production, which was expected to pick up in the back half of the year, has continued to fall. Analysts blame Covid outbreaks in Asia, which forced some parts of the semiconductor supply chain to shut down.
  • The huge consumer product giants Unilever and Procter & Gamble announced plans to raise prices and even ration some items because production has been limited by lack of raw materials.
  • Data firm IHS Markit said on Friday that October has seen a "record rise in backlogs of work as firms struggled to meet demand due to supply chain bottlenecks and labour shortages, in turn driving the steepest rise in prices yet recorded by the survey."

That last point is perhaps the most important. Inflation, which was expected to fade in the closing months of 2021, is surging once again. The price of used cars, which led the earlier round of inflation, is soaring. The Manheim wholesale used car index recorded an 8 percent rise in the first weeks of October, up from 3 percent in September. The Cleveland Fed's inflation nowcast is reading core-CPI at 0.33 percent on a monthly basis and 4.3 percent annually, compared with 0.2 and 4.0 in September.

The public has been ill-prepared for what we might call the equivalent of Delta Variant inflation because the White House and the Federal Reserve insisted that inflation was on its way out. We expect that this unanticipated setback will have a similar depressing effect on consumer confidence as the resurgent virus had.

Next week the government will release data on PCE price inflation, the Fed's favored gauge. The Wall Street consensus is for core PCE inflation to rise 3.7 percent. We'd take the over on that.

Alex Marlow & John Carney
Breitbart News Network

 
 

TOP STORY

 
Bidenflation: Bank of America Raises Its 2022 Inflation Forecast as Supply Chain Worsens
Bank of America on Friday raised its forecast for inflation and moved up the date it expects the Federal Reserve will hike interest rates. In their weekly update on the U.S. economy, the bank's economists found wrote that "supply-side challenges in the US are likely to continue through 2022 and sticky inflation is also strengthening." The bank is now forecasting the core Consumer Price Index to be at 3.2 percent next year, up from the earlier forecast of 2.5 percent. Core CPI excludes food and energy prices. The bank moved its estimate for the core Personal Consumption Expenditure price index, an inflation gauge compiled by the Department of Commerce and closely watched by the Federal Reserve, from 2.1 percent to 2.4 percent. [Click here for more]
 

IN OTHER STORIES...

Powell Says Worsening Supply Side Constraints Raise Inflation Risks
Federal Reserve Chairman Jerome Powell acknowledged Friday worsening supply side constraints on the economy and the risk of higher inflation. "The risks are clearly now to longer and more-persistent bottlenecks, and thus to higher inflation," Powell said during... [Click here for more]
 
Unilever Warns Inflation Will Accelerate Into 2022, Impacting Soap, Food, Airfare, Coffee
Inflation is expected to accelerate through 2022, increasing the cost of everyday products, multinational consumer goods company Unilever said Thursday. "We expect inflation could be higher next year than this year," said finance chief Graeme Pitkethly, noting the peak... [Click here for more]
 
Record Number of Ships at Long Beach as Offloading Slows: 'Leadership Is the Missing Ingredient'
A record 79 ships were anchored off the Port of Long Beach as of Thursday, after the combined Long Beach-Los Angeles total surpassed 100 earlier this week — and as the pace of offloading ships slowed down, rather than accelerating. Seatrade Maritime News reported on Thursday: [Click here for more]
 
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Known for his network of conservative Web sites that draws millions of readers everyday, Breitbart had one main goal: to make sure the "liberally biased" major news outlets in this country cover all aspects of a story fairly. Breitbart is convinced that too many national stories are slanted by the news media in an unfair way. Here, Breitbart talks about the key issues that Americans face, how he has aligned himself with the Tea Party, and how one needs to deal with the liberal news world head on.

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Righteous Indignation: Excuse Me While I Save the World! by Andrew Breitbart icon

Actually, A $1 Trillion Tesla Probably Will Impress Her

                                                           
Telsa became a $1 trillion company on Monday as its shares topped $1,000. The stock rallied nearly 13 percent after Hertz announced that it would buy 100,000 Teslas to add to its rental fleet.
 
 
Breitbart Business Digest
October 25, 2021
 

Today's Top Stories From the Breitbart News Desk

Telsa became a $1 trillion company on Monday as its shares topped $1,000. The stock rallied nearly 13 percent after Hertz announced that it would buy 100,000 Teslas to add to its rental fleet. Tesla has promised to fulfill the order by the end of next year. The stock closed the day just under $1,025.

Those of you with long memories might recall that Hertz actually filed for Chapter 11 bankruptcy last year after the pandemic initial crushed demand for rental cars. As part of its bankruptcy plan, the company sold off a big part of its fleet at a discount. So now the company actually has a shortage of cars to rent as demand has expanded while new cars are scarce and used cars expensive.

So there's a kind of weird poetry to the fact that a purchase order from a recently bankrupt company could push Tesla above a $1 trillion market cap. All we need now is for Tesla to cut a deal with AMC for electric car-powered drive-in films, and we'd have the perfect partnership for our age.

There is some logic to the big rise in Tesla today, which cannot be fully justified by the Hertz contract's value itself. The Hertz deal will help normalize Tesla, allowing more Americans to drive the cars and likely prompting more sales. It may also inspire copycats by other firms who will want to be able to match Hertz's Tesla offering.

One question: If Tesla is worth $1 trillion, does the Biden administration really need to subsidize the construction of electric vehicle charging infrastructure? It seems like this might be something Tesla could do on its own, without tapping into the earnings of the American taxpayer.

Alex Marlow & John Carney
Breitbart News Network

 
 

TOP STORY

 
Biden Administration Proposes Taxing Billionaires' 'Theoretical Income' to Pay for Spending Bill
U.S. Treasury Secretary Janet Yellen proposed taxing billionaires' unrealized capital gains to fund President Joe Biden's $2 trillion spending bill — a bill which the president has claimed costs $0. During an interview with CNN on Sunday, Yellen touted the idea of taxing the unrealized capital gains of the wealthiest 1 percent, though she claimed the measure would not count as a "wealth tax." She said:
Um, I think what's under consideration is a proposal that Sen. [Ron] Wyden [D-OR] and the Senate Finance Committee have been looking at that would, um, impose, um, a tax on unrealized capital gains, um, on liquid assets held by extremely wealthy individuals, billionaires.
[Click here for more]
 

IN OTHER STORIES...

Bidenflation 'Deluge': October Saw Highest Level of Price Hikes Ever in Dallas Fed Survey
Inflationary pressures continued to raise Texas manufacturing prices strongly in October, a survey released Monday showed. The Federal Reserve Bank of Dallas said that a record 50.5 percent of manufacturers had raised prices on their finished goods in October, while just 0.7 percent cut prices. That brought the dispersion index, which weighs price hikes against... [Click here for more]
 
Report: American Families on Average Pay $9 More for Tank of Gas Under Biden-Harris Admin
American families on average are paying nine dollars more for tank of gas under the Biden-Harris administration than under former President Trump, FOX WTGS calculated. Last year, the average price of gas was $1.22 less than in October of 2021. "It costs motorists $45.90 to fill a 15-gallon tank of gasoline; that is nine dollars more than what motorists paid in January of 2020 when pump prices hit their peak... [Click here for more]
 
Bidenflation Stole Christmas: Consumer Prices Up, Retail Spending Plans Not
There are likely to be fewer gifts under Christmas trees this year thanks to inflation running so much hotter than expected. Consumers plan to spend $997.73 on gifts, holiday items, and other non-gift purchases for themselves and their families this year, according to the annual survey released Thursday by the... [Click here for more]
 
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Known for his network of conservative Web sites that draws millions of readers everyday, Breitbart had one main goal: to make sure the "liberally biased" major news outlets in this country cover all aspects of a story fairly. Breitbart is convinced that too many national stories are slanted by the news media in an unfair way. Here, Breitbart talks about the key issues that Americans face, how he has aligned himself with the Tea Party, and how one needs to deal with the liberal news world head on.

icon

Buy from Alibris.com

Righteous Indignation: Excuse Me While I Save the World! by Andrew Breitbart icon


Church Membership Is Not a One-Way Street

 

Church Membership Is Not a One-Way Street

 

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Apart from faithfully preaching the gospel, there's nothing more important for a church to do than practice meaningful membership.

 
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The Death of Porn

Men of Integrity Building a World of Nobility


In this book, Ray Ortlund writes six personal letters, as from a father to his son. Ideal for individuals and small groups, it will give hope to men who have been misled by porn into devaluing themselves and others. Through Scripture and personal stories, Ortlund assures readers that God loves them the most tenderly in their moments of deepest shame.
   
 
 

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How to Translate the New Testament

Today's episode is a conversation with ESV Translation Oversight Committee member Dr. Peter Williams on translating the New Testament, the differences between modern English and biblical Greek, the trickiest books in the New Testament to translate, and Jesus's masterful (and, at times, clever) use of language in the Gospels.

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Healthy submission is a beautiful thing. It's a reflection of God's relationship with us.

 
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