Well…

Those of us inhabiting the wilderness out here known as “The Real World” have been continually telling the powers that be what’s going on. Honestly, they should have seen this coming instead of complaining about the “disconnect” between their wonderful economic “figures,” and the figures we were dealing with on grocery stores shelves, gas pumps, in our checking, and credit card accounts. The different sets of “figures” were not reconciling at all, no matter what hard proof we presented those in the bureaucracies “in charge of” the economy.

But then, who bothers listening to peasants collecting filth in the fields when we pay so many Experts™ significant sums to be smarter than anyone, and lord it over us by virtue of their brains.

Experts™, eh? Oh, right. Very nice.

T’would seem the Experts™ have missed it again.

Consumer prices rose 0.4% in September, more than expected

Prices that consumers pay for a wide variety of goods and services increased at a slightly faster-than-expected pace in September, keeping inflation in the spotlight for policymakers.

The consumer price index, a closely followed inflation gauge, increased 0.4% on the month and 3.7% from a year ago, according to a Labor Department report Thursday. That compared with respective Dow Jones estimates of 0.3% and 3.6%. Headline inflation increased 0.6% in August.

…Energy costs rose 1.5%, including a 2.1% pickup in gasoline prices and 8.5% in fuel oil, and food was up 0.2% for the third month in a row. On a 12-month basis, food costs climbed 3.7%, including a 6% increase for food away from home, while energy costs were off 0.5%.

Housing and gasoline were the prime drivers of the increase – who knew, huh? Only everybody who works for a living and has to keep a roof over their family’s head.

Then there’s the always “real world” effect of continually rising prices – depressed purchasing power. For once, reporters talked to someone from my credit union – vice a J.P. Morgan type – who sounds like he’s in tune with his customer base, as opposed to, say, POTATUS who’s not touching anything decent people would want to know about.

…The CPI increase meant worker wages fell in real terms.

Real average hourly earnings dropped 0.2% on the month, owing to the difference between the inflation rate and the 0.2% gain in nominal earnings, the Labor Department said in a separate report. On a yearly basis, earnings were up 0.5%.

“Just because the rate of inflation is stable for now doesn’t mean its weight isn’t increasing every month on family budgets,” said Robert Frick, corporate economist with Navy Federal Credit Union. “That shelter and food costs rose particularly is especially painful.”

In fact, he might even live here among the peasants in Florida – as opposed to your average CNBC Morgan or CitiBank ivory tower analyst – as NavyFed’s moved most of their operations out of Merrifield, VA TO Pensacola.

2nd month in a row of declining earnings. Workers now making less each week than last year.#bidenomics pic.twitter.com/wHLCe3ncoe

— Frog Capital (@FrogNews) October 12, 2023

#Bidenomics

While CPI inflation is at 3.7%, inflation is much higher in many basic necessities:

1. Car Insurance Inflation: 18.9%
2. Car Repair Inflation: 10.2%
3. Transportation Inflation: 9.1%
4. Rent Inflation: 7.4%
5. Homeowner Inflation: 7.1%
6. Food Away From Home Inflation: 6.0%
7.…

— The Kobeissi Letter (@KobeissiLetter) October 12, 2023

But they’ll stay confused about the “disconnect,” and keep spinning and spinning ’til they take off like a top into space.

If you only look at the last 3 months it's only 3% more than the 6% of the purchasing power you lost last year..
Someone in your government actually wrote this 🤦‍♂️ https://t.co/KAHohbh6L1

— Frog Capital (@FrogNews) October 12, 2023

The auguries going forward aren’t holding up well for jobs, either. As Tyler Durden at ZeroHedge says, between the state mandated lay-off notices (WARN) and the monthly government jobs figures…

Guess which one you can’t seasonally adjust for political purposes?

No #Bidenomics magic available for that “disconnect.” No revisions months later to fix it, either.

“YAY! WE WON!” ~ Expert™

Excluding everything you buy, inflation is doing amazing 🤡 https://t.co/Ns7WXzJxYY

— Peter St Onge, Ph.D. (@profstonge) October 12, 2023

There’s a disconnect, alright.

LOOK OVER HERE, DENNIS…and then come see the violence inherent in the system.

Help, help!

I’M BEING OPPRESSED!!

We really are.