Inflation

[taiwan_girl]

@george-k said in Inflation:

I think that the US should get rid of the one dollar bill. I know that they have tried to promote the USD$1 coin, but unless you give more of an incentive, it will not work.

[George K]

[Mik]

@George-K perfect.

[George K]

@Mik said in Inflation:

@George-K perfect.

Psaki actually had the (pardon the expression) balls to blame the surge in gas prices on the Ukrainian situation.

[Jolly]

That's a great clown pic.

[George K]

@Jolly said in Inflation:

That's a great clown pic.

I got yer great clown right here:

[Doctor Phibes]

WH Press Secretary has got to be the worst job in the world where you keep your clothes on.

[Aqua Letifer]

@Doctor-Phibes said in Inflation:

WH Press Secretary has got to be the worst job in the world where you keep your clothes on.

You know about the "flak jacket," right?

[George K]

[taiwan_girl]

@taiwan_girl said in Inflation:

@george-k said in Inflation:

I think that the US should get rid of the one dollar bill. I know that they have tried to promote the USD$1 coin, but unless you give more of an incentive, it will not work.

I agree. If the US is going to promote a USD $1 coin, they need to stop printing the USD $1 paper money.

In Europe, I think the smallest bill is about USD $5. In Taiwan, it is about $3 USD.

(One country that keeps really small denomination bills is India. And they keep them for a long long time. The money can be quite tattered and dirty and still in use)

[89th]

[jon-nyc]

@George-K said in Inflation:

@Mik said in Inflation:

@George-K perfect.

Psaki actually had the (pardon the expression) balls to blame the surge in gas prices on the Ukrainian situation.

Certainly that’s true of the rather significant jump in the last week

[George K]

@jon-nyc fair enough. A 60¢ rise in the last weeks.

But that's still only ¼ the rise over the last 15 months.

Seems like it was only two weeks ago that she was blaming the Ukraine shit for inflation.

[George K]

Obama's economic advisor, Stephen Rattner:

[jon-nyc]

Ratner’s right, but of course I’d say that because he’s making my point.

But @George-K 15 months is a bit of a cherry pick since gas prices plummeted in Q220 due to covid

[George K]

@jon-nyc said in Inflation:

Ratner’s right, but of course I’d say that because he’s making my point.

But @George-K 15 months is a bit of a cherry pick since gas prices plummeted in Q220 due to covid

Yes, and the rise in printed dollars antedates the Biden administration as well to some extent. I'm sure that didn't help.

But to address your point as to "cherry-picking" the 5 year timeline is somewhat different (and we can ignore that "Putin spike" for the sake of discussion).

The Trump peak is in May 2025 at about $3.00/gallon.

The pre-Putin peak under the Biden administration is about $3.35, 10% higher. Inflation for the year is now 7.5%.

As you know, gas prices are only one factor, and a major one, in the cost of living.

I saw another chart today (correlation is not causation, of course) showing the rise of money available compared with inflation.

[LuFins Dad]

The average gas price before COVID was at $2.54, Jon.

Of course, it was over $3.20 over most of Obama's last 4 years...

[George K]

@LuFins-Dad said in Inflation:

Of course, it was over $3.20 over most of Obama's last 4 years...

[89th]

[89th]

No doubt we will be setting all-time high records soon, but let's not forget the price has been between $3 and $4 bucks per gallon nearly half of the last 15 years.