Inflation

[Doctor Phibes]

@George-K said in Inflation:

@89th said in Inflation:

Honestly we need a recession. Or something that'll bring prices backdow

Nothing brings prices down. The best you can hope for is a slower rise.

We don't actually want prices to come down. I'm not 100% sure why, but that's what clever people say. And by clever people, I mean of course economists. Clever, but not quite clever enough to do a proper science degree.

[taiwan_girl]

Overall US Inflation decreases to 3.1%

[Jolly]

Go sell that to the American public.

[George K]

@Jolly said in Inflation:

Go sell that to the American public.

A home-buyer or renter.

[Jolly]

Or new car/truck buyer.

[LuFins Dad]

@taiwan_girl said in Inflation:

Overall US Inflation decreases to 3.1%

So things are still getting more expensive. Good to know.

[Copper]

@taiwan_girl said in Inflation:

Overall US Inflation decreases to 3.1%

Prices are still going up.

[Jolly]

BTW, gonna see a jump in beef prices...

[taiwan_girl]

A basic but good map of current inflation around the world.

https://flo.uri.sh/visualisation/13458161/embed

[Doctor Phibes]

@LuFins-Dad said in Inflation:

So things are still getting more expensive. Good to know.

He's got it down lower than Reagan managed

[Doctor Phibes]

@taiwan_girl said in Inflation:

A basic but good map of current inflation around the world.

https://flo.uri.sh/visualisation/13458161/embed

Apparently North America ends at the 49th parallel.

[Mik]

@Jolly said in Inflation:

BTW, gonna see a jump in beef prices...

Already have. Pretty standard cuts and ground beef are up 50 to 100%.

[Doctor Phibes]

So US inflation is at 3% and that's really bad, and China's is negative, and that's really bad too.

What would be considered a good level?

[LuFins Dad]

@Doctor-Phibes said in Inflation:

So US inflation is at 3% and that's really bad, and China's is negative, and that's really bad too.

What would be considered a good level?

After 2 years of high inflation? We will need to see several years at 1-1.5%.

[Jolly]

Case-in-point...At the beginning of Biden's term, the house note for a $400k home will now buy a $295k home...And homes are a bit more expensive than three years ago.

That's inflation that people can relate to...

[Doctor Phibes]

@LuFins-Dad said in Inflation:

@Doctor-Phibes said in Inflation:

So US inflation is at 3% and that's really bad, and China's is negative, and that's really bad too.

What would be considered a good level?

After 2 years of high inflation? We will need to see several years at 1-1.5%.

At one time 3% would have been considered really low. It’s really more important that we don’t have big fluctuations in my fairly untutored opinion, and that wages keep pace?

[George K]

@Doctor-Phibes said in Inflation:

@LuFins-Dad said in Inflation:

So things are still getting more expensive. Good to know.

He's got it down lower than Reagan managed

Absolute number? Yeah. Inflation has fallen from a high of 7.04% to 3.66%. About half.

Decrease in rate? Under Reagan it fell from from 8.92% to 3.83%.

https://www.macrotrends.net/2497/historical-inflation-rate-by-year

[Jolly]

And BTW, Ben Shapiro said on his last podcast that the employment numbers are a bit misleading. Job growth has occurred in three sectors - healthcare, government and hospitality. Hospitality is seasonal, of course. Other than that, most sectors have been flat or declining for eight months.

[89th]

All I know is my wife said a few minutes ago to me that there is a good deal where a 12-pack of Diet Pepsi is 2 for $10 whereas normally it is $7-8 now. I told her I still think it's going to be $2.50-$3.99 whenever I go to the store. Then again, I still think there is a dollar menu at McD's.

[jon-nyc]

@89th said in Inflation:

Then again, I still think there is a dollar menu at McD's.

There is. The choices are bbq, sweet and sour, or honey mustard sauce.