₦airaland Forum

SIRAO:
US inflation hits highest level for nearly 40 years
By Lucy Hooker.
American shoppers, especially those on low incomes have felt the pinch of
higher prices, with annual inflation at rates not seen for 40 years.
The latest figures show prices rose 6.8% in the year to November.
Bibi who works as a cleaner in Harlem, New York, said she has had to cut
back as a result, sometimes buying just one meal to share with her 27-year-
old son.
"We don't have any choice," she said, "I can't afford to cook."
"I take a little bit then I give him more because a mother is always going to
do that for her child."
Price rises have pushed up food shopping bills, and petrol prices jumped
6.1%, while the cost of second-hand cars and rent also rose.
While the monthly pace of price rises at 0.8% eased a little compared to
October's 0.9%, people like Bibi have felt the cumulative effects on their
budgets.
Patricia, who has just shopped in the local supermarket, said her bill is about
$30 a week more than it used to be, so she's replaced chicken and pork
chops with more vegetables, although prices for fresh produce are also
higher she said.
"It affects me a lot right now, I'm not working," she said.
Maria has just retired and said she's noticed that what she buys is not only
pricier but often smaller too, especially the bagels.
"I'm not going to buy them again for a long time. They used to be big bagels,
now they're smaller and more money," she said.
Biden says US economy 'in strong shape'
US jobs growth falls far short of expectations
Prices for American consumers are rising at their fastest annual rate since
June 1982. But the impact is felt more amongst those on the lowest
incomes, with the least room to manage.
Rising inflation is also putting pressure on President Biden as he tries to pass
his $1.9tn (£1.4tn) social spending bill.
Some economists blame the president's previous spending programmes,
designed to offer support amid the Covid pandemic, for exacerbating price
increases.
Giving it gas
"One of the major reasons we have inflation is because the government
spent so much money," said Christopher Campbell, chief strategist at Kroll a
risk consultancy, and a former Treasury official under President Trump.
He argued that further spending could make inflation worse.
"At the end of the day we hopefully are on the tail end of the pandemic, and
the government is still putting its foot on the gas, on the levels of spending."
However Claudia Sahm, senior fellow at the Jain Family Institute and former
Federal Reserve economist said government spending is not the cause. She
said the reason inflation has persisted is because the pandemic has not been
brought under control, affecting the supply of things like cars, fuel and food.
"The longer the Covid-related disruptions last, the more that starts to spread
into the prices of goods," she said.
She said with energy prices falling recently, inflation should start to ease.
"There are signs that we may be turning the corner soon, but Omicron is a
new wild card."
Supply squeeze
In the meantime the poorest are facing both the end of pandemic-era extra
support and rising prices.
"Food is a much larger proportion of lower income families' budgets," points
out Christopher Wimer of Columbia's Centre on Poverty and Social Policy.
"Lots of people use gas [fuel] but in terms of heating and utilities as well as
transportation, those costs eat up a larger share of low income folks' budget,
than higher income folks' budgets, which might be driven more towards
leisure, commodities and things like that."
Price rises are affecting some parts of the country more than others too,
with the south and mid-west impacted more.
Dare to Care, a food bank in Louisville, Kentucky, said it has felt the effect of
both inflation and supply chain problems.
"Overall we're spending a substantial amount more," said Annette Ball, Dare
to Care's chief programmes officer.
Usually a lot of Dare to Care's food comes from producers and retailers
passing on any surplus they have.
"Right now that's just not happening - people want that overrun. There's
demand in the market for that, so it's going out into the retail avenues."
Dare to Care has had to buy food at retail prices instead, and the cost of
transport has risen too.
"Freight has doubled, even tripled [in price], in some instances," she added.
As a result, Dare to Care has made compromises, like not including
wholegrain bread or pure fruit juice as often.
Rate expectations
President Biden has pledged to make tackling inflation a priority and has
made moves to ease supply chain problems, including changing rules for
transport operators. But expectations are now focused squarely on the
Federal Reserve too.
Speculation is mounting that the Fed will reduce the bond-buying support it
provides every month more quickly than planned, paving the way for a
possible rise in interest rates next year.
"The Fed is going to have to move," said Beth Ann Bovino US Chief
Economist, S&P Global ratings
"We expect them to now to speed up tapering and reach zero [monthly
support] by March with at least one [interest] rate hike in 2022."[/s]

midehi2:
Thank you, i went thru same, but today, they spend more time with me now than him but i used to cry so much then, i would be told "relax, they will find you one day"

frozen70:
Point of correction, women are not mumu, learn to respect words when you want to use it on people

If women are mumu, then you have one at home

SlyDev:
The mod have deleted what the OP and his friend have said from the first post.

SlyDev:
Nonsense, tell you brothers to mind their business, there is no divide and conquere.

SlyDev:
Truth that you can't tell them in alaigbo get away here

When did Yoruba ask you for the truth?

SlyDev:
Many of them can't even shout at their village chiefs but will come to South West and be cursing our governors and Kings

Anambra is a glorified shithole, there is no difference between Abia and Anambra

vedaxcool:
It is a free world, it is not a crime. The voters will decide whether the idea of great or not. You can disintegrate yourselves since you are too intolerant to understand politics.

walefresh3:
He narrated that what prompted the push for a Tinubu as vice president for the first time under Atiku was that anytime they said they needed money, Atiku would say “Bola please help us”.

“Bola (Tinubu) was the only one spending the money among us. The rest of us were poor. Tinubu also put all his energy and resources into the formation of the AC and we felt he deserved a spot on the ticket,” he wrote.

I thought u people said atiku is richer than tinubu...
For this Niger wey we dey .. Dem never born that polivian well ... Make him talk say him hetoney pass jagaban..

vedaxcool:
[s][/s]

He sacrificed twice so that Christians would be accommodated in the scheme of things and bigots like yourself won't have lies and demonic manipulations to foist on Christendom.

BAT is a true nationalist and patriot. I salute his wisdom.

arthurrwillia:
Awon gamabari golan007

Golan007:
[s][/s]

If that was the case, all of Texas and Norway would be polluted.

The problem is the illegal refining of petroleum.

Fourwinds:
Thank God.
ESN food don land.

What do you have to say about this:

buckeyemedia
nlpolicewoman
krismas
alimohammedibn
falseprophet
pricemajestic
pantami
modsfucker
ibkhaleel
Biodun556
Lastcall
Aboks
Gawu1
theFilmtric
Asidy
MalcoImX
Ibrahimmrfish
AdolfAboki
Queseda,
tsagir
Niceman12
QuotaSystem
abduljabbar4
Northurmate
Fariq
DanArrewa
Susu888
SWORD419
spendoon
Bakinwuta
Bazamfare
Almaigaa
Arewawife
NorthRules9ja
Simplyleo
Ngeneukwenu
Vedaxcool

Budaatum
Monogamy
donbenie
Candidlady
supportnija
Safyqueen
Danjikanbauchi
SlyDev
oloyedewaris
Haakeem
Caseless
Lovenorth
Patrioticman007
Cilicmarin

jaszplus12:
you guys should be showing us pictures of the snakes BEFORE and AFTER killing it! That is ; while it was alive and if it showed aggression and so on...

TheGoodJoe:
The governors are not doing it because they just want to loot.

---

GOVERNOR OBASEKI AND TWO MODULAR REFINERIES IN EDO STATE

The two modular refineries are located in Egbokor Village, Iyoba Ward, Orhionmwon Local Government and Ologbo in Ikpoba Okha Local Government, Edo State. The two refineries are under construction. Egbokor Village, Iyoba Ward, Orhionmwon Local Government. Edo State in the year 2020 can boast of two modular refineries in Nigeria.

https://nigerianobservernews.com/2020/11/governor-obaseki-and-two-modular-refineries-in-edo-state/

---

The federal government have never stopped States from refining. The truth is that the south governors and leaders are just wicked. Exploiting us.

Even NDDC is yet to carry out a meaningful project that will impact the South by driving economic growth.

Every governor or position head will do flyover and road and call it infrastructural development. They are just jokers.

TheGoodJoe:


First of all, I am from Akwa Ibom before you use Northerner and try to make this tribal.

The Federal Government has never stopped the State Government from refining crude. Just as they have never stopped a private body too. It takes a process and application.

So it is a matter of the will.

If Wike wanted to refine crude, he needs to make the funds available. Discuss with some multinationals. Prepare the proposals and present to the Federal Government. They will approve it.

Unfortunately, it is Flyover Wike uses to give you joy.

Newton85:
I'm not even a fan of Northerners, but blaming them for every ill and underdevelopment in your region while your own leaders/elites are looting you dry and not alleviating your sufferings shows you're very shameless, puerile victim-pimping crybaby not mature enough to the leaders/elites of his region culpable for its underdevelopment. Colossal clown!

thinkmoney:
I am an igbo man bro. I wont shy away from the truth though. That's what my grandfather and father taught me.

Newton85:
Yeah, blame the North for everythinv damned thing wrong with you. As if the elites in Rivers State are also not flexing oyel money while their people are being ravaged by soot.

TheGoodJoe:
Instead of Wike tackling soot, he is commissioning flyovers and roads.

The money spent on these flyovers would have gotten modular refineries and gas plants which would have created employment and less demand for illegal petroleum products.

But Wike must buy land and build houses and call it investment in Rivers State.

Peace081:
Like for Lola, Share for Anita

CSTRR:
See as she be.

thinkmoney:
Kanu gave them the excuse. Let's not shy away from the truth. Were igbo under attack in the east 3tears ago? No,!