Why the inflation rate isn't as bad as you think

[2000 MAN]

https://progressive.org/op-eds/why-the-inflation-rate-isnt-as-bad-as-you-think-boyce-221108/

Despite the right-wing panic, prices only rose by 0.5 percent in recent months—equivalent to an annual rate of about 2 percent

[ironage-muscle]

https://progressive.org/op-eds/why-the-inflation-rate-isnt-as-bad-as-you-think-boyce-221108/

Despite the right-wing panic, prices only rose by 0.5 percent in recent months—equivalent to an annual rate of about 2 percent

VERY DUMB STATEMENT

[2000 MAN]

VERY DUMB STATEMENT

You've kept the excessive use of the hyphen and added all caps.

[Dave D]

You've kept the excessive use of the hyphen and added all caps.

Prices have gone up?

On what products?

[myt1]

https://progressive.org/op-eds/why-the-inflation-rate-isnt-as-bad-as-you-think-boyce-221108/

Despite the right-wing panic, prices only rose by 0.5 percent in recent months—equivalent to an annual rate of about 2 percent

Dude, I stock up on shit when I buy things pre-Biden.  I went to buy a few big containers of generic oatmeal the other day. Pre-Biden it was $1.99 per tub.  It is now $6.99 less than 22 months into his term.  Inflation is actually worse than I thought, and nowhere near 8.5%.  Keeping on allowing them to change what's in the "basket" to compute CPI allows them to continue the lie, and you and others to be stupid enough to believe it.

[sculpture]

OP has been reading the same economics book as Biden

"0%" inflation 

Just the other day I saw some dumb shit democrat on TV claiming inflation was bad because people had simply learned of the concept and that's what made it real

[myt1]

OP has been reading the same economics book as Biden

"0%" inflation 

Just the other day I saw some dumb shit democrat on TV claiming inflation was bad because people had simply learned of the concept and that's what made it real

Same with GDP.  I still have my college macro and micro economics books.  Both define a recession 2 straight quarters of declining GDP.  We've now had 3, but still not calling it a recession.  4th quarter will likely grow because of Thanksgiving and Christmas, at which point they'll yell at us "see we told you so".  Then the quarters of GDP will start being counted from zero.

[The Gov]

https://progressive.org/op-eds/why-the-inflation-rate-isnt-as-bad-as-you-think-boyce-221108/

Despite the right-wing panic, prices only rose by 0.5 percent in recent months—equivalent to an annual rate of about 2 percent

So what do you say is the cause of price increases then ??

[sculpture]

Same with GDP.  I still have my college macro and micro economics books.  Both define a recession 2 straight quarters of declining GDP.  We've now had 3, but still not calling it a recession.  4th quarter will likely grow because of Thanksgiving and Christmas, at which point they'll yell at us "see we told you so".  Then the quarters of GDP will start being counted from zero.

I'm from the UK and have no dog in this race but can honestly say I've never seen such a deceitful and gaslighting administration

[myt1]

I'm from the UK and have no dog in this race but can honestly say I've never seen such a deceitful and gaslighting administration

Yep, and like you said, being from the UK what reason would you have to not tell the truth as you see it?

[Coach is Back!]

He goes by the Krugman school of economics

[Dalnet]

I'm from the UK and have no dog in this race but can honestly say I've never seen such a deceitful and gaslighting administration

X2

[joswift]

Inflation rate 11% food and fuel up by up to 35%

Inflation rate means fuck all

[Thin Lizzy]

How is the price of eggs in your area compared to two years ago? In mine they’re up at least 50%.

Have gone from $3.00 to $3.50 a dozen to $5-5.50.

It has nothing to do with the decrepit Biden. The Fed increased the money supply by 30-50% depending on the metric.

[Thin Lizzy]

He goes by the Krugman school of economics

The expertise of Government hack economists is to forever come up with absurd theories as to why government excesses and inefficiencies are really a good thing.

[Thin Lizzy]

Inflation rate 11% food and fuel up by up to 35%

Inflation rate means fuck all

Inflation is measured strictly as to whether or not prices go up when in reality inflation is relative and the normal course  of prices is actually to go down as producers get more efficient. Consider the amount of computing power you have now and the price you paid for it compared to that of 20 years ago.

The reason the Fed has been able to get away with all the money printing and no rising prices is because of China coming on board which was very deflationary. Now with China stagnating the jig is up and you’re seeing prices rise.

[loco]

https://progressive.org/op-eds/why-the-inflation-rate-isnt-as-bad-as-you-think-boyce-221108/

Despite the right-wing panic, prices only rose by 0.5 percent in recent months—equivalent to an annual rate of about 2 percent

Everything is great.

[Irongrip400]

I was paying $1.20 gallon for off road diesel in May 2020. I’m now paying $4.55 gallon.

[IroNat]

It's all good.

[Moontrane]

How is the price of eggs in your area compared to two years ago? In mine they’re up at least 50%.

Have gone from $3.00 to $3.50 a dozen to $5-5.50.

It has nothing to do with the decrepit Biden. The Fed increased the money supply by 30-50% depending on the metric.

Two years ago 18 large eggs cost $3.79, with occasional sales of buy two get one free.  Last week 18 large eggs cost $7.29.   

[Primemuscle]

Prices have gone up?

On what products?

Don't know about you, but I think groceries and specially dining out is noticeably more expensive than a year or so ago. I read that profits are way up as well. Initially and typically, the average consumer takes the hit, while corporations make a profit. When folks will not or cannot afford to buy the products, the prices should come down. How long before there is a turnaround, nobody knows.

Seems like there is a shortage of people to fill vacancies in the work force. This drives wages up. It is all part of inflation. Some people, such as retirees, are on fixed incomes. They feel the brunt of inflation.     

[Primemuscle]

I was paying $1.20 gallon for off road diesel in May 2020. I’m now paying $4.55 gallon.

December 2021 Headline: Oregon’s Gas Prices Now 5th Highest In Nation At $3.79 Per Gallon. Today the average price of regular in Portland, OR is $4.94 a gallon, down from a month or so ago when it was still well over $5.00 a gallon. Not great, but better.

[Irongrip400]

December 2021 Headline: Oregon’s Gas Prices Now 5th Highest In Nation At $3.79 Per Gallon. Today the average price of regular in Portland, OR is $4.94 a gallon, down from a month or so ago when it was still well over $5.00 a gallon. Not great, but better.

My point was, I believe the rapid fuel cost rise is almost as big, if not as big, as the printing of money as a driver of inflation.

[Freemason]

Inflation is much higher than reported, when calculating actual cost to live.

The 8.whatever number reported includes tons of consumer goods you purchase very infrequently, some of which prices have dropped. Flat screen TVs are in there, I might buy one every three years and they are cheaper than ever.

Food, particularly staple items like dairy, meats, and produce are up well over 30%

Rent is up over 50% nationwide.

Mortgages are up almost 300%.

Fuel is up over 200%.

These are the items that absorb most of your income, but are given equal weight in the inflation calculation against those infrequently purchased consumer goods.

So actual inflation in my home (we track our expenses very strictly) is up about 40%. Since we own our home that is just groceries and fuel. We were up almost $7000 in 2022 over 2021 in October. On just those two items.

[Thin Lizzy]

Two years ago 18 large eggs cost $3.79, with occasional sales of buy two get one free.  Last week 18 large eggs cost $7.29.   

The reason I used eggs because it’s a product that essentially everybody uses and the price is sure as fuck up a lot more than 10%.