Inflation

[Larry]

@taiwan_girl said in Inflation:

@Larry My view is that the President gets too much blame and too much credit for the economy. FULL STOP.

I'm fully aware of what your view is.

[Horace]

Presidents are given 94.6% of the credit they deserve for the economy. That is a full 5.4% underestimation of the credit they should be given. I don’t know about you, but I simply refuse to give less credit than is duly owed. When I see someone giving insufficient credit, I take it upon myself to give an offsetting increase in credit. To do otherwise is simply immoral.

[taiwan_girl]

@Larry said in Inflation:

@taiwan_girl said in Inflation:

@Larry My view is that the President gets too much blame and too much credit for the economy. FULL STOP.

I'm fully aware of what your view is.

But I am not aware of your view, other than "Democrats bad, Republicans good"

I use the below to think how the economy is doing

GDP grow
Unemployment %
People confidence
Stock market grow
10 year treasury rate
Private sector payroll
Inflation

What do you use?

If you dont want to answer, that is fine. I can accept that, but it is hard, in my opinion, to have a discussion about the "performance" of the economy without some sort of data.

[Jolly]

@taiwan_girl said in Inflation:

@Larry said in Inflation:

@taiwan_girl said in Inflation:

@Larry My view is that the President gets too much blame and too much credit for the economy. FULL STOP.

I'm fully aware of what your view is.

But I am not aware of your view, other than "Democrats bad, Republicans good"

I use the below to think how the economy is doing

GDP grow
Unemployment %
People confidence
Stock market grow
10 year treasury rate
Private sector payroll
Inflation

What do you use?

If you dont want to answer, that is fine. I can accept that, but it is hard, in my opinion, to have a discussion about the "performance" of the economy without some sort of data.

Larry is saying you live in a world of data. Data can be manipulated. Figures lie and liars figure, so to speak.

Folks that actually live out there in the real world, who are currently eating chicken instead of beef roast, trying to keep old jalopies running because the price of new and used cars has gone through the roof, shaking their head at $90,000 pickups, let alone contemplating whether to fill their car up with gas or eat, and wondering how in the hell they'll ever afford a home, can certainly fill you in on the finer points of inflation and who caused it.

And you know, all your neat figures don't mean a damn to those people.

[taiwan_girl]

@Jolly

Jolly, in your post, you use "data", which seems to be inflation.

I think it was you, (or maybe Jon or George) who used the term "tribe" to describe politics in the US right now. I think it is an accurate term and a good one.

There is a tendency now to use politics when looking at everything.

By looking at some of the data, I am trying to remove politics from it.

I realize that it cannot be 100% done, but it is a start.

(again, I am not specifically talking about the current times. I agree that President Biden is not doing a very good job. I am thinking about historic data and the tendency to say that because the President is from your "tribe", the economy does great!! When he is from the other "tribe", the economy is terrible. I dont think that is true and I think that "data" will prove me right. 555)

[Jolly]

@taiwan_girl said in Inflation:

@Jolly

Jolly, in your post, you use "data", which seems to be inflation.

I think it was you, (or maybe Jon or George) who used the term "tribe" to describe politics in the US right now. I think it is an accurate term and a good one.

There is a tendency now to use politics when looking at everything.

By looking at some of the data, I am trying to remove politics from it.

I realize that it cannot be 100% done, but it is a start.

(again, I am not specifically talking about the current times. I agree that President Biden is not doing a very good job. I am thinking about historic data and the tendency to say that because the President is from your "tribe", the economy does great!! When he is from the other "tribe", the economy is terrible. I dont think that is true and I think that "data" will prove me right. 555)

You can paint it any way you wish. The average person would ignore you.

Because what are you going to believe...This list of data or graphs? Or the money you are taking out of your wallet?

[Larry]

@taiwan_girl said in Inflation:

@Jolly

Jolly, in your post, you use "data", which seems to be inflation.

I think it was you, (or maybe Jon or George) who used the term "tribe" to describe politics in the US right now. I think it is an accurate term and a good one.

There is a tendency now to use politics when looking at everything.

By looking at some of the data, I am trying to remove politics from it.

I realize that it cannot be 100% done, but it is a start.

(again, I am not specifically talking about the current times. I agree that President Biden is not doing a very good job. I am thinking about historic data and the tendency to say that because the President is from your "tribe", the economy does great!! When he is from the other "tribe", the economy is terrible. I dont think that is true and I think that "data" will prove me right. 555)

In other words, you have preconcieved beliefs that are political in nature that you want to prove by searching through "data" until you find something to hang your hat on, and then you can push your delusion that you did it without any influence from political views.

[Klaus]

The idea of "lived experience" is very much associated with woke ideology, because it is so subjective and easy to manipulate.

Data can be presented in a manipulative way, but the data itself can only be one of two things: Correct or incorrect.

[Larry]

@Klaus said in Inflation:

The idea of "lived experience" is very much associated with woke ideology.

So.... 2 plus 2 equals 13 to your way of thinking.

[Klaus]

@Larry said in Inflation:

So.... 2 plus 2 equals 13 to your way of thinking.

No. That may be your "lived experience" of arithmetic. I prefer to go by the data, which suggests that the answer is 4.

[Larry]

@Klaus said in Inflation:

@Larry said in Inflation:

So.... 2 plus 2 equals 13 to your way of thinking.

No. That may be your "lived experience" of arithmetic. I prefer to go by the data, which suggests that the answer is 4.

Of course the answer is 4. But you just took two points that have nothing to do with each other, attempted to tie them together and give them equal value, and from their reach a conclusion that had nothing to do with anything. Here's the sad part - I believe that absent the input from morons like you, TG is intelligent enough to u derstand what is being said to her. I don't see you as being capable of such rational thinking.

[Klaus]

I had only one point: That your argument boils down to the "lived experience" idea - subjective experience trumps data - and that idea is BS. I also find it funny that "lived experience" is very much associated with progressive left-wing policy.

[Larry]

@Klaus said in Inflation:

I had only one point: That your argument boils down to the "lived experience" idea - subjective experience trumps data - and that idea is BS. I also find it funny that "lived experience" is very much associated with progressive left-wing policy.

Lived experience is NOT associated with progressive left wing policy. That's why I said you tried to add 2 plus 2 and say it equals 13. TG takes a flawed approach and tries to reach a rational conclusion, you just make shit up.

Now fuck off. You have no credibility to me.

[Horace]

Lived experience can be used to communicate a narrative, numbers can be used to communicate a narrative, both can be lied with, both can tell the truth. What Larry is not doing with his "lived experience" analog is claiming a unique ability to live a particular experience. In fact he's implying that it is the general case lived experience. The woke cudgel their political opponents with the claim that, unless you have a certain human phenotype, you cannot live certain experiences, and you need to shut up. This is why their usage is so wrong, because it denies the shared human experience. It's racism writ large, by morons.

[Doctor Phibes]

I've noticed that a number of my old school chums refer to attending 'The University of Life' on Facebook. At least a couple of them need to ask for their money back, IMHO.

[LuFins Dad]

@Klaus said in Inflation:

I had only one point: That your argument boils down to the "lived experience" idea - subjective experience trumps data - and that idea is BS. I also find it funny that "lived experience" is very much associated with progressive left-wing policy.

I agree except when I see actual data being manipulated. When I see formulas being changed and data and suppositions not being rigorously challenged and tested, then I have doubts about whether it’s really science. And in those situations, you unfortunately have to look for the subjective.

[Klaus]

@Horace said in Inflation:

Lived experience can be used to communicate a narrative, numbers can be used to communicate a narrative, both can be lied with, both can tell the truth. What Larry is not doing with his "lived experience" analog is claiming a unique ability to live a particular experience. In fact he's implying that it is the general case lived experience. The woke cudgel their political opponents with the claim that, unless you have a certain human phenotype, you cannot live certain experiences, and you need to shut up. This is why their usage is so wrong, because it denies the shared human experience. It's racism writ large, by morons.

I agree, but if it is a "general case lived experience" then you can also quantify it in the form of data.

[Horace]

@Klaus said in Inflation:

@Horace said in Inflation:

Lived experience can be used to communicate a narrative, numbers can be used to communicate a narrative, both can be lied with, both can tell the truth. What Larry is not doing with his "lived experience" analog is claiming a unique ability to live a particular experience. In fact he's implying that it is the general case lived experience. The woke cudgel their political opponents with the claim that, unless you have a certain human phenotype, you cannot live certain experiences, and you need to shut up. This is why their usage is so wrong, because it denies the shared human experience. It's racism writ large, by morons.

I agree, but if it is a "general case lived experience" then you can also quantify it in the form of data.

I don't think it would be too difficult to attach numbers to the average experience with inflation. You know, for those who make around 300k per year.

[George K]

9.1% announced today.

U.S. inflation reached 9.1% in June, its highest rate in nearly 41 years, the Labor Department said Wednesday.

Investor expectations of slowing economic growth world-wide have led to a decline in commodity prices in recent weeks, including for oil, copper, wheat and corn, after those prices rose sharply following the Russian invasion of Ukraine. Retailers have warned of the need to discount goods, especially apparel and home goods, that are out of sync with customer preferences as spending shifts to services and away from goods, and consumers spend down elevated savings. Economists expect those developments to subdue price pressures in the coming months.

“There’s a pretty serious recession fear affecting a broad range of asset prices,” said Laura Rosner-Warburton, senior economist at MacroPolicy Perspectives.

[Jolly]

It's higher than that, and we all know it.