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Why inflation may be worse than you think it is

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Re: Why inflation may be worse than you think it is

Postby mookiemcgee on Sun May 12, 2024 7:16 pm

HitRed wrote:The great debate puts Steve Hanke calling for inflation to drop to 2% by early 2025 vs. Peter Schiff calling for inflation to continue to rise. Both can’t be right.


This was actually great, but rather depressing towards the end when they both agree we are fucked and its because of the fed choices not politics. Also great to see them agree on the fact the inflation has been re-defined in way that makes it a political football about who is to blame for price increases rather than the TRUE definition of inflation is ONLY about the money supply.

Thanks for sharing!
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Tue May 14, 2024 3:10 pm

here is more bad news on inflation; well done, Biden.

Americans already contending with persistent and stubbornly high inflation just got more unwelcome news on Tuesday: There are more price hikes likely coming down the pike.

Wholesale inflation picked up in April to its highest rate in a year, according to Bureau of Labor Statistics data released Tuesday.


The Producer Price Index, which measures the change in prices that manufacturers pay to suppliers, was 2.2% for the 12 months ended in April, according to Bureau of Labor Statistics data released Tuesday.

That gain is higher than what was seen in March, which was downwardly revised from 2.1% to 1.8%.

On a monthly basis, prices rose 0.5%, a faster pace than March’s 0.1% loss (also downwardly revised) and ran much hotter than what economists had anticipated. Economists were expecting a monthly gain of 0.3%, according to FactSet consensus estimates.

“The concern here is that we now have a trend, an upward trend in producer prices, which can only be passed through to consumers and result in upward pressure on consumer price inflation over the coming months,” Kurt Rankin, senior economist for the PNC Financial Services Group, told CNN in an interview.

And that means interest rates will stay higher for longer and could further delay the Federal Reserve’s plans for cuts on that front, he said.

On Tuesday, Fed Chair Jerome Powell said readings like the April PPI provide more justification to keep rates elevated for a longer period of time.

https://www.cnn.com/2024/05/14/economy/ ... index.html

Fed’s Powell is unfazed by the latest hot inflation reading
Story by Elisabeth Buchwald, CNN

Tuesday’s wholesale inflation data, which jumped to its highest rate in a year, certainly wasn’t a source of comfort. And it comes after March’s unexpected jump in consumer prices to 3.5% on an annual basis from 3.2% in February.

The Producer Price Index, which measures the change in prices that manufacturers pay to suppliers, rose 0.5%, a much faster pace than March’s 0.1% decline.
“I wouldn’t call it hot, I would call it sort of mixed,” Powell said Tuesday, referring to the new wholesale inflation data.

But Powell acknowledged that the first quarter had been “notable for its lack of progress on inflation,” he said at an event hosted by the Foreign Bankers’ Association speaking alongside European Central Bank Governing Council member Klaas Knot.

“We did not expect this to be a smooth road, but these were higher than I think anybody expected,” Powell said.

https://www.msn.com/en-us/money/markets/fed-s-powell-is-unfazed-by-the-latest-hot-inflation-reading/ar-BB1mnSlg?ocid=msedgdhp&pc=HCTS&cvid=492cb0f7603349aa8ef93835fca89798&ei=22
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Tue May 14, 2024 9:34 pm

And even more bad news about Biden; he has LOST it:

Biden repeats false claim that inflation was at 9% when he took office after being called out last week

President Biden repeated his false claim that inflation was at 9% when he first took office less than a week after being called out for making the same assertion.

Speaking with Yahoo! Finance about his newly announced tariffs on China, Biden defended his handling of the economy while acknowledging the impact inflation has had on Americans.

"Inflation has gone slightly up," Biden told Yahoo! Finance's Brian Sozzi. "It was at 9% when I came in. And it's now down around 3%."

Inflation was at 1.4% when Biden took the oath of office in January 2021 and peaked at 9.1% in June 2022. It stands at 3.5% as of March 2024, which is above the Federal Reserve’s target rate of 2%.

https://www.msn.com/en-us/news/politics/biden-repeats-false-claim-that-inflation-was-at-9-when-he-took-office-after-being-called-out-last-week/ar-BB1moGLh?ocid=msedgdhp&pc=HCTS&cvid=f40c5eb44e2f494b89fb04cb14fd9a56&ei=16

And voters wonder WHY inflation is SO BAD? Biden and his advisors on the Economy are CLUELESS.
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Re: Why inflation may be worse than you think it is

Postby Dukasaur on Wed May 15, 2024 6:51 am

Yeah, yeah. He's an old man with a failing memory. And you think that's much worse than being a career criminal whose entire life has been devoted to ripping people off.

Your choice. If I had to leave my wallet in someone's hands, and I had to decide between leaving it with a doddering grandpa who might forget it on a park bench, or a career con artist who has fucked over literally 100% of his partners, investors, customers, and employees. Hmmm... which one offers me the better chance?
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Re: Why inflation may be worse than you think it is

Postby 2dimes on Wed May 15, 2024 7:45 am

Uh, maybe they’re both bad?
Last edited by 2dimes on Sun May 19, 2024 3:29 am, edited 1 time in total.
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Re: Why inflation may be worse than you think it is

Postby HitRed on Wed May 15, 2024 9:37 am

Always trust politicians
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Wed May 15, 2024 12:39 pm

Let's assume, Duk, for the sake of argument that what you allege about Trump has a modicum of Truth. How do you explain the popularity of a (very) rich man to the masses? And do not include me, but the MILLIONS who voted for him in 2016 and in 2020. And please do not say all Trump supporters are stupid. I expect that from p-rat and p-mac, NOT from you.

And note too, that Trump has yet to be found guilty of ANY CRIMES as of today.

(The civil case is not a criminal case, and was based on a STRETCH of the Law, as discussed before elsewhere in this very Forum.)
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Re: Why inflation may be worse than you think it is

Postby mookiemcgee on Wed May 15, 2024 2:01 pm

All Trump voters are stupid (or rich though these aren't mutually exclusive)

Conservatives aren't stupid, just Trump voters.
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Re: Why inflation may be worse than you think it is

Postby GaryDenton on Wed May 15, 2024 2:14 pm

I will say it. Trump supporters are incredibly stupid and most are bigots.
Many want to destroy the government, the Constitution, the civil service, Social Security, government healthcare, and install a dictator.
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Wed May 15, 2024 2:25 pm

That they must be stupid since they disagree with both of you. NOT. :roll:
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Re: Why inflation may be worse than you think it is

Postby pmac666 on Wed May 15, 2024 3:37 pm

No, its not that they disagree, they are just low or misinformed idiots and schoolyard bullies.
Its quite easy, really.

Btw you soon will have no country anymore, everything is going to the shitters. :lol:

S&P 500, Nasdaq and Dow all hit record highs after encouraging inflation data.

https://edition.cnn.com/2024/05/15/econ ... index.html
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Thu May 16, 2024 1:34 am

pmac666 wrote:No, its not that they disagree, they are just low or misinformed idiots and schoolyard bullies.
Its quite easy, really.

Btw you soon will have no country anymore, everything is going to the shitters. :lol:

S&P 500, Nasdaq and Dow all hit record highs after encouraging inflation data.

https://edition.cnn.com/2024/05/15/econ ... index.html


WoW...an improvement of 0.1%...BRAG some more, pmac.

after the latest Consumer Price Index showed that prices were up 3.4% for the 12 months ended in April, easing from 3.5% the month before.


from your source, btw.

So, and I and other Americans can buy even less for the same money. GREAT. NOthing new; thanks, Biden. Let's Go, Brandon..!
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Thu May 16, 2024 2:03 am

Biden either:
1) is lying, or
2) does not understand Economics.


Either way, it does not speak well to his ability to manage things, especially as they relate to the US Economy. At least KJP TRIED to give an answer, unlike nearly all Trump-haters here in this Forum.

White House forced to respond to Biden’s debunked inflation claim

The White House was forced Wednesday to defend President Joe Biden's dubious claim that inflation was at 9% when he took office.

Biden has said so twice now, but in reality, inflation stood at just 1.4% in January 2021. It did reach 9% — in June 2022, when he'd been in office for nearly 18 months.
When a reporter brought up the discrepancy, press secretary Karine Jean-Pierre spoke to wider forces in the economy.

(...)
Inflation has dogged Biden since it began rising in the spring of his first year in office. It surged to 5% by May 2021 and peaked at 9.1% in June 2022 before falling steadily over the last year. But it remains elevated today at 3.4%, well above the Federal Reserve's 2% target.

https://www.msn.com/en-us/news/politics/white-house-forced-to-respond-to-biden-s-debunked-inflation-claim/ar-BB1mshma?ocid=msedgntp&pc=HCTS&cvid=4ccddcef3ce04db9b4abbb3f5a8a0abb&ei=10

As I have already addressed here in this thread, much of the inflation is caused by Biden and the Congressional Democrats continuing their irresponsible fiscal DEFICIT spending.

and more evidence that Team Biden does not understand Economics:

Team Biden says tariffs don’t raise prices — economists disagree

U.S. Trade Representative Katherine Tai made the case for President Joe Biden's new China tariffs on Wednesday, claiming that not only are they worth the trouble, but they will not cause prices to rise at all.

"First of all," she said when asked if prices would jump the way they did following Donald Trump's tariffs, "I think that that link in terms of tariffs to prices has been largely debunked."

If so, that's news to economists.

The Washington Examiner spoke to three economics experts, all of whom disagreed with Tai's assertion.

"Tariffs are sales taxes on imported goods," said Douglas Holtz-Eakin, former director of the Congressional Budget Office. "There is an enormous amount of research on sales taxes, and they raise the price paid by consumers. Period."

https://www.msn.com/en-us/money/markets/team-biden-says-tariffs-don-t-raise-prices-economists-disagree/ar-BB1ms6T1?ocid=msedgntp&pc=HCTS&cvid=59aa991566c645d18d867aedea04325c&ei=75

Biden is stupid about many things, especially:

A) Foreign Policy, and
B) Economics.

And to make matters worse, he has hired and/or appointed stupid economic advisors. Does anyone wonder why INFLATION is so bad :roll: and so many Americans are hurt by rising prices for Food, Gasoline, Housing and so much more? Let's Go, Brandon..!

even more bad news for Biden:

Inflation rates show Biden is gaslighting Americans on the economy

Good news: Inflation eased a tiny bit in the latest Consumer Price Index numbers.

Bad news: Most other indicators suggest more trouble, not less, ahead.


CPI for April came in at 3.4% higher than a year ago — easing from March’s 3.5% spike.

But we’re still at levels well above what Federal Reserve chief Jerome Powell wants.

And the Producer Price Index for April saw a 0.5% rise, above economists’ 0.3% prediction — and PPI generally indicates where CPI is headed, since producers have little choice but to pass higher costs on to consumers.

Plus, Consumer Confidence in April was at its lowest level since July 2022, when inflation was at a blistering 8.5%.

Meanwhile, interest rates have been at a 23-year high since last July; Wall Street keeps hoping the Fed will cut rates, but Powell’s (rightly) promising nothing.
Which leaves the working and middle class squeezed, and racking up more debt: Americans have already spent their pandemic savings while credit-card balances soar.

Meanwhile, job growth slowed last month, and the majority of jobs added were in government and health care (which is itself government-dominated): Private-sector employment looks flat.

By every metric, Bidenomics has miserably failed Americans; prices are now up an average 20% over Inauguration Day 2021.

The president’s response?

Lie outright,
insist you have the money to cover your soaring grocery bills and hope enough people believe him that he can get voted in for Round 2 in November.[/size]

Gas prices may be up, but Joe Biden’s gaslighting keeps getting cheaper.

https://www.msn.com/en-us/money/markets/inflation-rates-show-biden-is-gaslighting-americans-on-the-economy/ar-BB1msKMH?ocid=msedgntp&pc=HCTS&cvid=4ccddcef3ce04db9b4abbb3f5a8a0abb&ei=41

What a LOSER Biden is; and now he HOPES that a good debate performance or two MAY HELP. Good Luck with that, Brandon.
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Re: Why inflation may be worse than you think it is

Postby Pack Rat on Thu May 16, 2024 7:22 am

GaryDenton wrote:I will say it. Trump supporters are incredibly stupid and most are bigots.
Many want to destroy the government, the Constitution, the civil service, Social Security, government healthcare, and install a dictator.


We have jusplay4MAGA, talking to himself in his tiny bubble. Delusional and blind to the real facts....
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Re: Why inflation may be worse than you think it is

Postby pmac666 on Thu May 16, 2024 9:26 am

Trump 2020: "All of those millions of people with 401(k)s and pensions are doing far better than they have ever done before with increases of 60, 70, 80, 90 and 100 percent and even more," Trump said in his address to a joint session of Congress.

The dow was at 29k at that point. :lol:
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Re: Why inflation may be worse than you think it is

Postby GaryDenton on Thu May 16, 2024 12:03 pm

How old are you ?

An annual 3.4% is a good inflation rate.

The average inflation rate in the United States from 1960 to 2022 was 3.8% per year,
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Thu May 16, 2024 1:52 pm

And the inflation under Trump was MUCH BETTER, the HIGHEST being 2.4%, 2018

https://www.usinflationcalculator.com/inflation/historical-inflation-rates/

Biden has had inflation rates of 4-8%, and merely wishes his was THAT low, GaryD. Biden is an economic LOSER and that alone may be reason enough for him to lose the election in November. I have documented how he has mismanaged the Economy. Keep fueling inflationary fires by more deficit spending and by printing MORE MONEY; THAT is all Biden knows to do.

Let's Go, Brandon....!

And because this month is BELOW average you think that IS GOOD? Your economic analysis ranks as low as that of Biden's pitiful economic advisors. No wonder you are so HAPPY with 3.4%, GaryD.

and:

What is the 30 year average of inflation?
30-Year Breakeven Inflation Rate is at 2.35%, compared to 2.27% last month and 2.23% last year. This is higher than the long term average of 2.13%.


https://ycharts.com/indicators/30year_breakeven_inflation_rate/chart/#/?calcs=&chartId=&chartType=interactive&correlations=&customGrowthAmount=&dataInLegend=value&dateSelection=range&displayDateRange=false&endDate=&format=real&legendOnChart=false&lineAnnotations=&nameInLegend=name_and_ticker&note=&partner=basic_2000&quoteLegend=false&recessions=false&scaleType=linear&securities=id%3AI%3A30BIR%2Cinclude%3Atrue%2C%2C&securityGroup=&securitylistName=&securitylistSecurityId=&source=false&splitType=single&startDate=&title=&units=false&useCustomColors=false&useEstimates=false&zoom=1&hideValueFlags=false&redesign=true&chartAnnotations=&axisExtremes=
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Re: Why inflation may be worse than you think it is

Postby HitRed on Fri May 17, 2024 4:00 pm

Silver $31.50
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Sat May 18, 2024 3:22 am

Biden, his economic advisors, and Kamala are ALL CLUELESS on the Economy and the causes of Inflation:

Social media users hammered Vice President Kamala Harris on Friday after saying the Inflation Reduction Act is dropping "trillions of dollars" on American streets.

Harris' critics argued it was ironic that the legislation she pointed to was intended to boost the economy and alleviate inflation by having the government spending exorbitant amounts of money.

"Has there ever been a more ironic sentence?" journalist and Grabien.com founder Tom Elliott asked Thursday in response to Harris' remark about the 2022 law. (...)

Washington Free Beacon reporter Chuck Ross wrote, "Dang, they should have called it the ‘Trillions of Dollars on American Streets Act.’ Missed PR opportunity." (...)

Harris made the comments during a recent stop on her nationwide Economic Opportunity Tour in Milwaukee.

"Because of the Inflation Reduction Act — the infrastructure act — we are dropping trillions of dollars on the streets of America right now to build back up our roads and our bridges, our sidewalks, to invest in a clean energy economy, to deal with the climate crisis in a way that is about building up adaptation and resilience," she said.

The account for economic research institute "Just Facts" replied to Harris’ clip: "IN FACT, the root cause of inflation is the federal government dropping trillions of dollars on the streets of America. In the words of former Fed Chair Ben Bernanke, ‘increasing the number of U.S. dollars in circulation’ reduces the ‘value of a dollar.’"

Columnist Phil Kerpen sarcastically wrote, "A highly logical ‘inflation reduction’ strategy."

https://www.msn.com/en-us/news/politics/vp-harris-grilled-for-saying-inflation-reduction-act-is-working-via-gov-t-giving-out-trillions-of-dollars/ar-BB1mAqKK?ocid=msedgntp&pc=HCTS&cvid=352ed7a02b6c4a66913508e591ff8697&ei=54
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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Sat May 18, 2024 10:55 am

The bad economic news under Biden CONTINUES. What a LOSER.

Interest payments on the nation’s ballooning debt just eclipsed spending on defense and Medicare, worrying policy experts who have warned this threatens to undermine U.S. economic stability.

In the first seven months of fiscal year 2024, which began in October, spending on net interest surged to $514 billion, surpassing spending on both national defense ($498 billion) and Medicare ($465 billion). In fact, interest costs have topped spending on veterans, education and transportation combined.

"Rising debt will continue to put upward pressure on interest rates," the Committee for a Responsible Federal Budget (CRFB), a nonpartisan group that advocates for lowering the national deficit, said in a statement. "Without reforms to reduce the debt and interest, interest costs will keep rising, crowd out spending on other priorities and burden future generations."

For years, the U.S. was able to borrow cheaply, thanks to historically low interest rates. However, as the federal funds rate increased, so did short-term rates on Treasury securities, making federal borrowing far more expensive.

The Federal Reserve raised interest rates 11 times in 2022 and 2023, lifting rates to the highest level in 23 years in an attempt to crush high inflation and cool the economy. Policymakers have signaled they will hold rates at those elevated levels until they are certain inflation is conquered.

https://www.msn.com/en-us/money/news/interest-costs-on-the-national-debt-just-surpassed-spending-on-defense-medicare/ar-BB1mA28A?ocid=winp2fptaskbar&cvid=12f6c400d82b4627e1651eee3a798dde&ei=38
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Re: Why inflation may be worse than you think it is

Postby DirtyDishSoap on Sat May 18, 2024 11:08 am

At this point, I'd take a fossil then risk having an over saturated orange take office again.

The amount of publicity, indictments, felonies, and just an all around joke of a human being should have raised eye brows. Trumps like every other washed up celebrity.

It's a cult. You're all part of this weird cult. I have no idea why. Anyone with any amount of common sense can see it. It's like telling me Charles Manson was a great guy. No, he wasn't, neither is this dude.

I get it, he sold you the dream and it up and went and gave you guys pink eye.

Make the Republican party great again, don't vote this clown back in, don't have him run for president.
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STOCK MARKET HITS ALL NEW HIGH!

Postby Pack Rat on Sat May 18, 2024 11:20 am


OMG! Stock Market hits new highs!

Yes, we can throw all the blame on President Biden! This libtard Socialist Leftist is ruining our country!


https://www.investors.com/market-trend/ ... -earnings/




Jusplay4MAGA, are you ready to jump out of a window of your Wall Street office? Please call: 1-800-No Jump

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Re: Why inflation may be worse than you think it is

Postby jusplay4fun on Sat May 18, 2024 11:37 am

pack rat shows that he does not comprehend what the stock market is about. Why do I bother to even READ his posts? My brain HURTS reading such nonsense. Your knowledge of economic matters is worse than that of Biden; that is REALLY LOW, considering how little Biden knows about the Economy. C'mom MAN...!!

And to draw a comparison of Trump to Charles Manson is ridiculous. You drank the Kool-Aid of the OTHER Cult, DDS.

You both try to refute my posts, ideas, and citations of AUTHORITATIVE sources with your mere OPINIONS and with silly responses.

At least I acknowledge that I do not like Trump and that I want some other candidates.

You two clowns are so committed to your hatred of Trump that you cannot see past Biden. Show me a post already made here in CC where you criticized Biden and said that you do not want him to be the Democratic candidate.

Lastly, for now, my eyes are Brown and NOT pink. I think you must have looked in the mirror and got confused like Biden often does. Read the cue card, DDS.
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Re: Why inflation may be worse than you think it is

Postby GaryDenton on Sat May 18, 2024 5:04 pm

Biden has a record-breaking economy.

But both mainstream and Republican sources refuse to acknowledge this as they love Trump for ratings and due to corporate ownership and Biden is so old and so boring.

It came out in court the New York Times ran over 30 stories that Trump wanted. Maggie Haberman has been Trump's stenographer.

At least the National Enquirer editor was ashamed of what he had done.

Even now, NYT has over 30 stories on how old Biden is, only one story, by the way, this is a great economic streak Biden has.

At least JP4F acknowledges how bad Trump is for the Republican Party.
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Re: Why inflation may be worse than you think it is

Postby GaryDenton on Sat May 18, 2024 5:06 pm

I thought Biden would be a terrible president. He had never impressed me as a politician or a leader.
Some terrible decisions.

Until he became president.
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