Chomper Higgot Posted February 6 Share Posted February 6 9 minutes ago, uttradit said: Inflation peaked under Biden. You are good at being wrong on everything. TDS. Inflation has inertia, once put in motion it takes time to slow down. Who knew?! 1 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted February 6 Share Posted February 6 4 minutes ago, uttradit said: Some more facts showing how bad Biden is "According to that data, the percentage change in the approximate total consumer price index in December 2017 from 12 months earlier was 2.1%, 1.9% for the same period in 2018, 2.3% in 2019 and 1.3% in 2020. Meanwhile, the change for December 2021, the first year of Biden’s administration, was 7.1%" https://apnews.com/article/fact-checking-112809830820 Shall we pretend the driving force for inflation, oil and gas prices on the world market, were Biden’s fault? 1 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 16 minutes ago, Chomper Higgot said: Inflation has inertia, once put in motion it takes time to slow down. Who knew?! ** Moderator note: May I respectfully suggest that you use any of the following in future: that's not correct are you sure about that? it has been proven statistically that..... can you provide an authoritative link to confirm that point? 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 1 minute ago, Chomper Higgot said: Shall we pretend the driving force for inflation, oil and gas prices on the world market, were Biden’s fault? Please stop posting lies. TDS is disturbing. 1 1 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 7 minutes ago, uttradit said: According to that data, the percentage change in the approximate total consumer price index in December 2017 from 12 months earlier was 2.1%, 1.9% for the same period in 2018, 2.3% in 2019 and 1.3% in 2020. Meanwhile, the change for December 2021, the first year of Biden’s administration, was 7.1%" https://apnews.com/article/fact-checking-112809830820 Inflation was low when Trump left. 1 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted February 6 Share Posted February 6 4 minutes ago, uttradit said: Stop lying Inflation inertia exists and is a well established in economics: https://www.jstor.org/stable/40005047 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 1.3% last year Trump 7.1% first year Biden When are you TDS people going to stop lying about Trump and admit the truth about Biden? Biden has been terrible for inflation. 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 10 minutes ago, Chomper Higgot said: Inflation inertia exists and is a well established in economics: https://www.jstor.org/stable/40005047 Except you are wrong as always. It was low when Trump left. You are now a proven incorrect. (edit by Moderator to remove flame and avoid a penalty) Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 7 minutes ago, Chomper Higgot said: Inflation inertia exists and is a well established in economics: https://www.jstor.org/stable/40005047 Inflation is sure well established now. Food and energy (what the poor needs most) is not included in the inflation numbers. Federal Reserve Economic Data | FRED | St. Louis Fed (stlouisfed.org) 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 I think if you look at polls, the rich think the economy is great, but the poor? Not so much. 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 3 minutes ago, Yellowtail said: Inflation is sure well established now. Food and energy (what the poor needs most) is not included in the inflation numbers. Federal Reserve Economic Data | FRED | St. Louis Fed (stlouisfed.org) Food inflation is very high. 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 6 minutes ago, uttradit said: Food inflation is very high. Yet not included in the numbers. When the price of groceries or gasoline go's up, it does not bother the rich much, it's the poor that suffer. But not to worry, when the election gets a bit closer, we'll see some talk about increasing the minimum wage, the child tax credit, reparations and whatnot. 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 "In 2023, food prices increased by 5.8 percent. Food-at-home prices increased by 5.0 percent, while food-away-from-home prices increased by 7.1 percent." https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings/ 1 Link to comment Share on other sites More sharing options...
uttradit Posted February 6 Share Posted February 6 36 minutes ago, Yellowtail said: Oh, but it was low under Trump because of Obama, and it's high under Biden because of Trump. Correct. Now you are learning how the Democrat mind works. Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 Just now, uttradit said: Correct. Now you are learning how the Democrat mind works. They're leftists, not Democrats Link to comment Share on other sites More sharing options...
heybruce Posted February 6 Share Posted February 6 3 hours ago, uttradit said: The Labor Department said Tuesday that its consumer price index jumped 8.5% in March from 12 months earlier, the sharpest year-over-year increase since 1981 https://apnews.com/article/us-inflation-rate-historic-high-4ba3435cc3730198e299690a9d968038 Immediately after you post "You are good at being wrong at everything." you post a link to an article from Tuesday, April 22, 2022. 😆😆😆 1 Link to comment Share on other sites More sharing options...
heybruce Posted February 6 Share Posted February 6 3 hours ago, Yellowtail said: Inflation is sure well established now. Food and energy (what the poor needs most) is not included in the inflation numbers. Federal Reserve Economic Data | FRED | St. Louis Fed (stlouisfed.org) You go to great lengths to find narrow categories that run counter to overall trends. Food and energy prices are generally excluded from inflation numbers because they are so volatile, but even those two were too general for you so you target specific types of food and energy. Inflation for all of 2023 was 3.4%. https://www.cnn.com/2024/01/11/economy/cpi-inflation-december/index.html It's worth noting that GDP grew at a blistering 3.4% in the final quarter of 2023 https://www.cnbc.com/2024/01/25/gdp-q4-2023-the-us-economy-grew-at-a-3point3percent-pace-in-the-fourth-quarter.html while unemployment remained under 4% for the entire year https://www.statista.com/statistics/273909/seasonally-adjusted-monthly-unemployment-rate-in-the-us/ and wage growth was well ahead of inflation for almost the entire year https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/. Bottom line, the economy is doing great for everyone. Even for those who want to eat nothing but hamburger cooked over electric grills, which seem to be the people you are concerned about. 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 21 minutes ago, heybruce said: You go to great lengths to find narrow categories that run counter to overall trends. Food and energy prices are generally excluded from inflation numbers because they are so volatile, but even those two were too general for you so you target specific types of food and energy. Inflation for all of 2023 was 3.4%. https://www.cnn.com/2024/01/11/economy/cpi-inflation-december/index.html It's worth noting that GDP grew at a blistering 3.4% in the final quarter of 2023 https://www.cnbc.com/2024/01/25/gdp-q4-2023-the-us-economy-grew-at-a-3point3percent-pace-in-the-fourth-quarter.html while unemployment remained under 4% for the entire year https://www.statista.com/statistics/273909/seasonally-adjusted-monthly-unemployment-rate-in-the-us/ and wage growth was well ahead of inflation for almost the entire year https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/. Bottom line, the economy is doing great for everyone. Even for those who want to eat nothing but hamburger cooked over electric grills, which seem to be the people you are concerned about. Cumulative inflation (from your link) from 2020 through 2023 was 17.3%. What do you think cumulative wage increases kept were over the same time period? And if wages are outpacing inflation, why are the Social Security COLAs so high? Cost-Of-Living Adjustments (ssa.gov) Hey, do you think the 4% unemployment number includes the six million illegals he let in? Probably not, but they will absolutely put downward pressure on the wages of the people you look down your nose at that have to eat hamburger and buy gas for their ten-year-old car. Not to worry, people like you don't care about the cost of hamburger and gasoline. Link to comment Share on other sites More sharing options...
heybruce Posted February 6 Share Posted February 6 8 minutes ago, Yellowtail said: Cumulative inflation (from your link) from 2020 through 2023 was 17.3%. What do you think cumulative wage increases kept were over the same time period? And if wages are outpacing inflation, why are the Social Security COLAs so high? Cost-Of-Living Adjustments (ssa.gov) Hey, do you think the 4% unemployment number includes the six million illegals he let in? Probably not, but they will absolutely put downward pressure on the wages of the people you look down your nose at that have to eat hamburger and buy gas for their ten-year-old car. Not to worry, people like you don't care about the cost of hamburger and gasoline. Wage increases respond to inflation after the fact, not real time. It's not difficult to see why, well, perhaps it is for you. The important thing is that wages are now increasing faster than inflation. Food inflation is caused by droughts, swine flu, bird flu, labor shortages, and demand. The first three are out of the government's control. Labor shortages and high demand are the result of low unemployment, generally seen as a good thing. The illegals you are worried about help resolve the labor shortages. Social Security COLA's are based on inflation, not wage increases. Didn't you know that? If you'd venture out of you echo chamber you'd find the economy is doing very well. 1 1 Link to comment Share on other sites More sharing options...
heybruce Posted February 6 Share Posted February 6 2 hours ago, Yellowtail said: Cumulative inflation (from your link) from 2020 through 2023 was 17.3%. What do you think cumulative wage increases kept were over the same time period? And if wages are outpacing inflation, why are the Social Security COLAs so high? Cost-Of-Living Adjustments (ssa.gov) Hey, do you think the 4% unemployment number includes the six million illegals he let in? Probably not, but they will absolutely put downward pressure on the wages of the people you look down your nose at that have to eat hamburger and buy gas for their ten-year-old car. Not to worry, people like you don't care about the cost of hamburger and gasoline. People like me? I'm curious, what kind of inaccurate stereotype do you apply to me? This should be good for a laugh. Link to comment Share on other sites More sharing options...
candide Posted February 6 Share Posted February 6 8 hours ago, uttradit said: The Labor Department said Tuesday that its consumer price index jumped 8.5% in March from 12 months earlier, the sharpest year-over-year increase since 1981 https://apnews.com/article/us-inflation-rate-historic-high-4ba3435cc3730198e299690a9d968038 It's an article from April 2022. Don't you have more recent figures? 1 1 Link to comment Share on other sites More sharing options...
candide Posted February 6 Share Posted February 6 2 hours ago, Yellowtail said: Cumulative inflation (from your link) from 2020 through 2023 was 17.3%. What do you think cumulative wage increases kept were over the same time period? And if wages are outpacing inflation, why are the Social Security COLAs so high? Cost-Of-Living Adjustments (ssa.gov) Hey, do you think the 4% unemployment number includes the six million illegals he let in? Probably not, but they will absolutely put downward pressure on the wages of the people you look down your nose at that have to eat hamburger and buy gas for their ten-year-old car. Not to worry, people like you don't care about the cost of hamburger and gasoline. Thank you for showing that inflation was lower under Obama's last mandate and actually increased under Trump. And this under similar international context: no economic crisis effect, similar growth rates etc.. 😀 2 Link to comment Share on other sites More sharing options...
heybruce Posted February 6 Share Posted February 6 16 minutes ago, candide said: It's an article from April 2022. Don't you have more recent figures? I pointed that out earlier. He has not acknowledged it. Yet he insists he uses facts and those who disagree don't. Fact: April 12, 2022 is not generally referred to as "Tuesday". 2 Link to comment Share on other sites More sharing options...
candide Posted February 6 Share Posted February 6 About the inflation level and its components, here are the latest numbers published by OECD. https://www.oecd.org/sdd/prices-ppp/consumer-prices-oecd-updated-5-december-2023.htm 1 Link to comment Share on other sites More sharing options...
Danderman123 Posted February 6 Share Posted February 6 (edited) 10 hours ago, uttradit said: Inflation peaked under Biden. You are good at being wrong on everything. TDS. And inflation is coming down. The inflation that started under Trump due to "supply change" issues. Biden is doing a good job. Edited February 6 by Danderman123 2 Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 2 hours ago, candide said: About the inflation level and its components, here are the latest numbers published by OECD. https://www.oecd.org/sdd/prices-ppp/consumer-prices-oecd-updated-5-december-2023.htm So what does the chart say about how the US stacks up against the other counties? Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 15 minutes ago, Danderman123 said: And inflation is coming down. The inflation that started under Trump due to "supply change" issues. Inflation can't come down, it's cumulative. When it comes down, it's called defilation. 15 minutes ago, Danderman123 said: Biden is doing a good job. For the people he cares about, yes. Link to comment Share on other sites More sharing options...
Danderman123 Posted February 6 Share Posted February 6 11 minutes ago, Yellowtail said: Inflation can't come down, it's cumulative. When it comes down, it's called defilation. For the people he cares about, yes. The rate of inflation is variable. It's customary for normal people to use "inflation" as shorthand for the "rate of inflation". Maybe "defilation" is shorthand for "deflation". Link to comment Share on other sites More sharing options...
candide Posted February 6 Share Posted February 6 13 minutes ago, Yellowtail said: So what does the chart say about how the US stacks up against the other counties? Lowest inflation in G7, and in detail: very low food inflation and energy price decrease. 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted February 6 Share Posted February 6 38 minutes ago, candide said: Lowest inflation in G7, and in detail: very low food inflation and energy price decrease. Energy price decreased less than five of the seven, why do you supposed that is? But without comparing it to what the increases were leading up it over the last few years. In any event, food prices went up dramatically for a couple years, now they're going up more slowly, that's good news. Link to comment Share on other sites More sharing options...
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