Everytime I read an article by Rick Newman at Yahoo Finance it feels like I kill more brain cells; here he says that there is only one component regarding inflation left that people have to worry about: “rent.”

So, I thought I would look at some expenses that most people have to deal with on an annual or monthly basis to see if the inflation problem is really behind us. Is overall inflation really down to around 3% as mainstream pundits assure?

Less than a month ago, USA Today published an “outlook for car insurance” report, in which the analysts noted this:

Consumers shopping for the best car insurance in 2024 can expect higher prices, according to Mark Friedlander, Director of Corporate Communications at the Insurance Information Institute (Triple-I).

‘Car insurance rates are expected to continue to increase in 2024 due to costlier repairs, driven by parts shortages and higher costs of labor, as well as low inventories of vehicles, which generates higher costs of replacing totaled cars.’

According to the Bureau of Labor Statistics, those rates “are up 18.9% year-over-year” for several reasons, most obviously inflation, but also… an “increase in auto thefts.” (Thought all that crime in San Francisco and Los Angeles didn’t affect you? Think again.) See below:

Vehicle theft rates reached near-record highs in 2022, vehicle theft increased by 7% year-over-year, according to the National Insurance Crime Bureau, and the trend continued in the first half of 2023. More thefts mean more comprehensive claims for insurance companies, losing the money they earn from premiums.

The same report highlighted that “auto repairs” have increased “45%” since 2020:

Friedlander went on to highlight parts and replacements as another pain point for the auto industry. ‘From 2020 through 2023, replacement costs increased an average of 45% cumulatively, whereas inflation for the overall U.S. economy increased 15% within the same time frame.’

An ABC News article from this spring found this:

Motor vehicle repair prices have jumped a staggering 23% over the last year, an inflation rate nearly four times higher than overall price increases, government data showed.

The price hikes stem from a shortage of workers and car parts that has sent costs soaring for auto shops, industry experts said. On top of that, the rise of high-tech cars, equipped with features like rearview cameras and traffic sensors, has added cost to even some routine repairs, they added.

(Now, don’t forget, if you drive an electric car, those repairs and maintenance are more expensive than the average ICE vehicle.)

What about health insurance? See this, from a recent report at CNN:

Health insurance costs are going up the highest in years in 2024, up 8.4%

There are multiple reasons why health care costs are rising swiftly now, said Debbie Ashford, the North America chief actuary for Health Solutions at Aon, which pegs the increase at 8.5% for 2024, nearly double the rate for this year.

Home repair and renovations? Again, “costs are surging.” From Forbes:

Building material cost increases in 2023 included:

• 16% in wood

• 15% in concrete and masonry

• 11% in insulation

• 12% in electrical conduit work

• 22% steel

Home insurers are also dropping out of markets, and the price is skyrocketing:

Two of the 10 largest homeowners insurance companies, USAA and Farmers, implemented double-digit rate increases of nearly 15% in many states, according to S&P Global. The other eight largest companies increased rates by 6% to 10%.

Inflation, supply chain issues and severe weather have been driving premiums higher nationwide. Rising claims costs are also causing some home insurance companies to leave high-cost states or go out of business, which is pushing more Americans to their state’s insurer of last resort.

UPS and FedEx customers will be contending with rate increases:

The delivery giants announced a 5.9% average rate increase on their various shipping services that will take effect on Dec. 26 for UPS and Jan. 1 for FedEx. It’s a smaller increase than the 6.9% bump both unveiled for 2023 as they contend with declining demand.

While gas prices are down over the past year, crude oil prices are still up over 70%, from around $40 per barrel when Biden was installed, to $69 today; this price increase affects everything, because crude oil is used in over 6,000 products, and energy prices affect almost everything we use.

Bidenites suggest “greedy companies” as the culprits of high inflation, but here is what greed and gouging actually looks like, via Breitbart:

Americans who fail to keep up with their tax payments may soon feel a sting in the pocketbook, thanks to the Internal Revenue Service (IRS).

According to the Wall Street Journal, the IRS is charging eight percent interest when it comes to estimated tax underpayments, noting the move went into effect October 1.

Two years ago it was three percent, and ‘the increase is one of the many effects of rising interest rates….’

The IRS has increased late payment penalties by 167% over the last two years; the IRS does not borrow funds, and it is not charged an interest expense, so whatever it charges for interest is arbitrary and essentially a 100% gross margin whether it is 3% or 8%. This high rate really harms those who make less.

As far as I can tell, Biden has never suggested that the government reduce any of its taxes or fees. Why not, if he wants to help the people? As for wages: why do they compare gross wages to inflation instead of net wages? People have to pay 100% of the cost of goods, yet only take home an estimated 65% to 75% of their gross pay—and taxes still have not been reduced. That is why they come up short each month.

The reason people don’t like Biden’s policies is because they are terrible for average Americans, and after fact-checking Newman (once again) and looking at what an average American pays for, I’m reminded of why we identify these “journalists” as Democrat campaign workers instead of an honest press.

Image generated by AI.