Inflation

[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.

[George K]

Kevin's groceries:

I looked at what was in his grocery cart and did an amazon fresh cart to compare.

It came to about $65 for this year, iirc.

Toy soldiers are expensive.

Politifact rates this meme as false.

I added up their numbers: $55.81. Add sales tax - $61.39.

So, yeah. The meme is false, but by Politi"fact"s own numbers it $15 more than last years.

The inflation calculator says that it should have cost $46.59.

[Jolly]