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  1. #1
    Join Date
    Dec 2018
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    9,103

    I got 99 problems and INFLATION makes it 107.415

    So now that it seems the Biden administration's previous assurances that inflation is just transitory

    https://www.whitehouse.gov/cea/writt...d-years-ahead/

    And the idea that inflation is just a *republican talking point* going away.
    https://democrats.org/news/republica...rt-to-deflate/

    I think it's probably fine for us to have a thread dedicated to this subject. How it's affecting Americans, its causes, and ways to mitigate the damage.

    Interestingly of note if we used the old method for calculating inflation it would be over 10%
    https://democrats.org/news/republica...rt-to-deflate/

  2. #2
    Join Date
    Dec 2018
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    9,103
    Currently, the Personal Consumer Expenditure Price Index (CPE) has risen over 5.4% compared to the same time last year, and the CPI grew by 8.5% compared to this time last year.
    So if something (let's say a problem) cost $99 in today's real dollars it would cost $107.415

  3. #3
    Join Date
    Jan 2006
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    America
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    I wonít dismiss inflation because itís real. But the areas that itís impacting arenít hitting me. The areas that are seeing the biggest inflation are things like used cars and airfare.

  4. #4
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    Dec 2018
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    Part of the reason that inflation has hit us as hard as it has (in an everyday sense) is the people tasked with modeling and forecasting this **** got it WAY off.
    If I tell you inflation will be a little higher like 2.5% (2% is normal) and I'm your econ guy, your going to make policy decisions based on that.
    https://www.vox.com/22996474/inflati...ru-ngdp-powell
    But in March, the Fed updated its projection from 2.7 percent to 4.1 percent. Private forecasters surveyed in November said they expected 2.3 percent inflation; by February, it was up to 3.1 percent.

    Put another way, the people youíd expect to have the surest handle on where inflation is going have admitted they got it wrong, too ó and by a lot. ďThe models really led us astray,Ē Karen Dynan, a professor of economics at Harvard and former assistant secretary of the treasury for economic policy, told me, offering the below chart as further evidence.

    I canít tell you whatís in Fed Chair Jerome Powellís heart, despite my past entreaties to the Fed media department. But I can say in regards to my case that I unfairly dismissed the most boring, Econ 101 explanation for why inflation happens: that there was too much money sloshing around for the amount of stuff the economy was able to produce ó meaning the price of that stuff went up.
    BTW if this assertation about the cause of inflation is correct, it's a death blow to MMM.

  5. #5
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    Dec 2018
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    Also, the FED is going to jack up interest rates.

    https://www.msn.com/en-us/money/mark...cid=uxbndlbing

    Raising interest rates to slow down spending is a way of getting a handle on inflation.
    The problem though is this could lead to a reduction in investment and a recession, which would destroy all those low-skill jobs's that the WH likes to brag about creating.

    https://www.lietaer.com/2022/02/why-...use-recession/

  6. #6
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    Quote Originally Posted by ciaban2.0 View Post
    Also, the FED is going to jack up interest rates.

    https://www.msn.com/en-us/money/mark...cid=uxbndlbing

    Raising interest rates to slow down spending is a way of getting a handle on inflation.
    The problem though is this could lead to a reduction in investment and a recession, which would destroy all those low-skill jobs's that the WH likes to brag about creating.

    https://www.lietaer.com/2022/02/why-...use-recession/
    Interest rates are way too low anyways. Putting money into savings accounts is to literally burn money.

  7. #7
    Join Date
    May 2020
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    7,330
    From a year ago.
    Bottled water is up 33%
    Bacon is up 25+%
    Gas is up 25+%
    Eggs are up 50+%
    Beef is up 30+%
    Chicken is up 50+%
    Deli meat is up 40%
    My Ignore List: bklynny67, crovash, nastynice, natepro, OhSoSlick, spliff(TONE), zmaster52

  8. #8
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    Quote Originally Posted by brett05 View Post
    From a year ago.
    Bottled water is up 33%
    Bacon is up 25+%
    Gas is up 25+%
    Eggs are up 50+%
    Beef is up 30+%
    Chicken is up 50+%
    Deli meat is up 40%
    Iím just doing spot checks but an order I placed in September 2020 things are up about 14%. The bacon is up $1 and the ground beef about $0.60. I donít buy deli meat so I donít know there. Chicken has been pretty consistent so Iím surprised thatís higher.

  9. #9
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    Quote Originally Posted by dbroncos78087 View Post
    Interest rates are way too low anyways. Putting money into savings accounts is to literally burn money.
    They had been to low for a while, but it's projected the FED will raise rates 6 times this year alone.

  10. #10
    Join Date
    May 2020
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    Quote Originally Posted by dbroncos78087 View Post
    Iím just doing spot checks but an order I placed in September 2020 things are up about 14%. The bacon is up $1 and the ground beef about $0.60. I donít buy deli meat so I donít know there. Chicken has been pretty consistent so Iím surprised thatís higher.
    You also spend a lot more in Sept 2020 than most folks as we showed you.
    My Ignore List: bklynny67, crovash, nastynice, natepro, OhSoSlick, spliff(TONE), zmaster52

  11. #11
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    Quote Originally Posted by brett05 View Post
    You also spend a lot more in Sept 2020 than most folks as we showed you.
    I didnít argue that it went up. I was just offering my own context and prices Iíve seen. Iíve said from the start that inflation is a real problem and needs to be addressed. It hasnít been as impactful to some folks since wage growth has closely followed.

  12. #12
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    Could instantly tell by the ultra cringe title who the author of this thread is.

  13. #13
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    Cool title


    Sent from my iPhone using Tapatalk
    Rep Power: 0




    Quote Originally Posted by Raps08-09 Champ View Post
    My dick is named 'Ewing'.

  14. #14
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    Quote Originally Posted by ewing View Post
    Cool title


    Sent from my iPhone using Tapatalk
    Can't be, spliff hate's it.

  15. #15
    Join Date
    May 2020
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    Quote Originally Posted by dbroncos78087 View Post
    I didnít argue that it went up. I was just offering my own context and prices Iíve seen. Iíve said from the start that inflation is a real problem and needs to be addressed. It hasnít been as impactful to some folks since wage growth has closely followed.
    No it has not. Raises have not kept up with inflation at all.
    My Ignore List: bklynny67, crovash, nastynice, natepro, OhSoSlick, spliff(TONE), zmaster52

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