Inflation
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@LuFins-Dad said in Inflation:
@taiwan_girl they take the index for last September and compare it for this September and calculate the percentage increase/decrease.
Unless you're POTUS, or the Speaker of the House, in which case you look at the July index and compare it to the June index and, because it's 8.2% in both, you say "Inflation is zero."
Biden, Aug. 10: Before I begin today, I want to say a word about the news that came out today relative to the economy. Actually, I just want to say a number: zero. Today, we received news that our economy had 0% inflation in the month of July. Zero percent.
Pelosi said at an Aug. 12 press conference: “As you see, inflation was zero for the past month, zero increase.”
That would be hilarious if it wasn't so sad.
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@LuFins-Dad said in Inflation:
@taiwan_girl they take the index for last September and compare it for this September and calculate the percentage increase/decrease.
Unless you're POTUS, or the Speaker of the House, in which case you look at the July index and compare it to the June index and, because it's 8.2% in both, you say "Inflation is zero."
Biden, Aug. 10: Before I begin today, I want to say a word about the news that came out today relative to the economy. Actually, I just want to say a number: zero. Today, we received news that our economy had 0% inflation in the month of July. Zero percent.
Pelosi said at an Aug. 12 press conference: “As you see, inflation was zero for the past month, zero increase.”
July of 2021 had a lower CPI than September of 2021. Finding the actual CPI numbers goes beyond my simple Googlefu but I know that 8.2% increase ~5.5% is greater than 8.2% over 4.2%…
Me/rry/Christmas
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Biden and Pelosi seem to be unaware of the difference between an increase and an increase in rate of change.
Proud supporter of Plan 2525. Everything you think, do and say will be in the pill you took today.
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@Doctor-Phibes said in Inflation:
Biden and Pelosi seem to be unaware of the difference between an increase and an increase in rate of change.
I suspect they are dumbing down the messaging so that people with circa 5th percentile critical thing skills will buy this story that makes their party look competent.
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https://www.cbsnews.com/news/irs-401k-contribution-limit-increasing-by-record/
"The IRS on Friday said it is boosting the 2023 contribution limits for 401(k)s by a record $2,000 due to the high pace of inflation, which will allow workers to sock away more money in 2023.
Individuals will be able to save up to $22,500 in their 401(k)s next year, an increase of 9.8% from the current year's limit of $20,500, the agency said in a statement. The new limit also applies to other types of defined contribution plans, including 403(b), most 457 plans and the federal government's Thrift Savings Plan."
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It occurred to me that Herschel Walker's $700 check to his mistress for an abortion could actually help Republicans because it reminds Americans how much the price of an abortion has gone up.
The gas to drive your girlfriend out of State is going to cost more than that at the rate we're going.
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Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
If you asked the average guy on the street if inflation was more or less than 8%, I suspect the answer would be more than 8%.
I agree. I think a lot of people would respond that it is 20% or even more.
Thailand inflation is quite high. The thing that is saving US expats is the USD vs, Thai baht is doing well, so the inflation is not noticed as much?
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https://www.cnn.com/2022/10/27/business/mcdonalds-prices/index.html
McDonald’s third quarter prices were up around 10% year over year on average.
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Yup, very much noticeable at the grocery store.
It's also a shame how prices have gone up for everything else, even if they aren't impacted by supply chain or other reasons. It's a game of "I can charge more because my neighbor is charging more". It's part of the free market game... we enjoyed over a decade of low rates, low inflation, strong growth, and now the pendulum is swinging back.
@Axtremus A McD's meal basically costs $10 at this point. For a family of four, it's cheaper now to order take-out from Applebees, or a Chinese restaurant.
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Eurozone Inflation Rate Rises to 10.7% as Recession Looms
The annual rate of consumer-price inflation in the eurozone increased to double digits in October, reaching a record and highlighting the challenges facing the European Central Bank after it signaled a coming slowdown in the pace of its rate increases.
The broad measure of consumer prices has risen sharply since Russia’s invasion of Ukraine and Moscow’s decision to throttle natural gas supplies to Europe to undermine Western support for Kyiv. By mid-September, Russia had cut its supplies to 80% of their year-earlier total.
Europe has had to look elsewhere for gas supplies, and paid much higher prices. While storage levels are now high, and gas prices on world markets have fallen from their peaks, household energy bills lag behind those moves and are much higher than a year earlier, as are food prices.
As a result of these pressures, inflation in the region has overtaken the level in the U.S. Now it is fueling demand for higher pay in the most affected countries, which could in turn feed into further price rises.
The European Union’s statistics agency Monday said consumer prices were 10.7% higher in October than a year earlier, the fastest rate of increase since records began in 1997, two years before the euro was launched. However, national records go back further, and Germany’s measure of inflation was the highest since December 1951.
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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@George-K Blame it on President Biden!! LOL
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@taiwan_girl Don't worry, we will.
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Yup, very much noticeable at the grocery store.
It's also a shame how prices have gone up for everything else, even if they aren't impacted by supply chain or other reasons. It's a game of "I can charge more because my neighbor is charging more".
Uhm, no. I expected a little more out of you.
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EVERYTHING is effected by the cost of diesel. There’s not a single product that isn’t.
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Even if you don’t have a product that’s price has been impacted by supply line or fuel costs, EVERYTHING is still impacted by wage inflation. Wages are skyrocketing. Now that Starbucks Baristas are making $20 per hour, I have to pay my piano movers $40 an hour since their jobs are for more physically demanding and require far more training and skill. That means my rates for delivery have to go up from $250 per upright piano delivery to $325. By the time I’m done paying them, their employment taxes, and the elevated fuel costs, I’m making less per delivery than I was a year ago at $250.
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Even if your product wasn’t disrupted by supply issues… Even if your product and services weren’t effected by wage inflation… Even if your product and services weren’t effected by the cost of diesel… We’re going into a period of incredible inflation and economic stagnation. In those economic conditions a business has to improve and protect their profit margins. They will have to get by with less business overall…
Me/rry/Christmas
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@LuFins-Dad said in Inflation:
Yup, very much noticeable at the grocery store.
It's also a shame how prices have gone up for everything else, even if they aren't impacted by supply chain or other reasons. It's a game of "I can charge more because my neighbor is charging more".
Uhm, no. I expected a little more out of you.
Me too, 89th. I expected more out of you too. I will never stop expecting more of you. It’s how you know I care.
#ToughLove
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@LuFins-Dad said in Inflation:
@LuFins-Dad said in Inflation:
Remember the Farm Bureau’s .14 cent 4th of July?
They’re back…
https://www.fb.org/newsroom/farm-bureau-survey-shows-thanksgiving-dinner-cost-up-14
Can’t wait to see this year’s number.
https://www.fb.org/newsroom/farm-bureau-survey-shows-thanksgiving-dinner-cost-up-20
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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