Inflation
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The government has, traditionally been "OK" with an inflation rate of 2-3%, iirc. However, that "OK" is predicated upon a concurrent rise in income.
That has not happened. I recall seeing a statistic that, in actual income, the average family is bringing home about $6K a year less.
Now, take that $500 a month decrease in real income, and combine it with a mortgage rate that has climbed from 3% to 7%, and a lot of folks are going to be very unhappy.
Bidenomics.
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@taiwan_girl said in Inflation:
To his defense, when he said "before the pandemic" he was talking about 1933, which WAS before the pandemic.
He probably remembers it too!
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New season soon!
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Goldman Sachs report says that the chance of recession is down to 15%.
Should President Biden get credit for this? 555
(I think you all know my answer)
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https://www.theatlantic.com/ideas/archive/2023/12/inflation-prices-buying-habits/676191/
If people are so mad about high prices, why do they keep buying so many expensive things?
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People hate inflation, just not enough to spend less: This is one of the central tensions of today’s economy, in which things are going great yet everyone is miserable. ...
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... And in surveys, people say that they are trading down because of cost pressures. But in fact they are spending more than they ever have, even after accounting for higher prices. ... -
Sorry, paywall, and I can’t afford their higher rates.
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https://www.theatlantic.com/ideas/archive/2023/12/inflation-prices-buying-habits/676191/
... And in surveys, people say that they are trading down because of cost pressures. But in fact they are spending more than they ever have, even after accounting for higher prices. ...
Everything is going along swimmingly.
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https://www.theatlantic.com/ideas/archive/2023/12/inflation-prices-buying-habits/676191/
... And in surveys, people say that they are trading down because of cost pressures. But in fact they are spending more than they ever have, even after accounting for higher prices. ...
Everything is going along swimmingly.
And rates have gone from 17% to 23%.
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A minor detail...
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Sorry, if you don't have a graph and a couple of sets of data tables, Ax does not take just any evidence to heart.