I got 99 problems and INFLATION makes it 107.415

[ciaban2.0]

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/

[ciaban2.0]

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

[dbroncos78087]

I won’t dismiss inflation because it’s real. But the areas that it’s impacting aren’t hitting me. The areas that are seeing the biggest inflation are things like used cars and airfare.

[ciaban2.0]

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 you’d expect to have the surest handle on where inflation is going have admitted they got it wrong, too — and by a lot. “The models really led us astray,” 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 can’t tell you what’s in Fed Chair Jerome Powell’s 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 — 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.

[ciaban2.0]

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/

[dbroncos78087]

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.

[brett05]

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%

[dbroncos78087]

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%

I’m 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 don’t buy deli meat so I don’t know there. Chicken has been pretty consistent so I’m surprised that’s higher.

[ciaban2.0]

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.

[brett05]

I’m 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 don’t buy deli meat so I don’t know there. Chicken has been pretty consistent so I’m surprised that’s higher.

You also spend a lot more in Sept 2020 than most folks as we showed you.

[dbroncos78087]

You also spend a lot more in Sept 2020 than most folks as we showed you.

I didn’t argue that it went up. I was just offering my own context and prices I’ve seen. I’ve said from the start that inflation is a real problem and needs to be addressed. It hasn’t been as impactful to some folks since wage growth has closely followed.

[spliff(TONE)]

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

[ewing]

Cool title


Sent from my iPhone using Tapatalk

[ciaban2.0]

Cool title


Sent from my iPhone using Tapatalk

Can't be, spliff hate's it.

[brett05]

I didn’t argue that it went up. I was just offering my own context and prices I’ve seen. I’ve said from the start that inflation is a real problem and needs to be addressed. It hasn’t 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.