What Happened to Inflation? Bidenomics

[mogandave]

1 minute ago, Roo Island said:

Where did the administration lie? Link?

When they sai there was 800k more jobs created then there were.

https://www.cnbc.com/2024/08/21/nonfarm-payroll-growth-revised-down-by-818000-labor-department-says.html

 

1 minute ago, Roo Island said:

 

But yes, the fed messes with rates to juice or depress the economy. They do this under every president

Link?

[mogandave]

5 minutes ago, CallumWK said:

 

You have a link as to where they announced that rate cut, and when and how much?

There has been no cut yet, he made it up like everything else. 

[Roo Island]

6 minutes ago, CallumWK said:

 

So you call providing an indication an announcement? 

 

So again, when exactly the rate cut will be and how much?

Follow the news. It's coming. As has been predicted for some time.

[CallumWK]

1 minute ago, Roo Island said:

Follow the news. It's coming. As has been predicted for some time.

 

So you have nothing? Thanks for confirming that, over and out

[Roo Island]

6 minutes ago, mogandave said:

When they sai there was 800k more jobs created then there were.

https://www.cnbc.com/2024/08/21/nonfarm-payroll-growth-revised-down-by-818000-labor-department-says.html

 

Link?

This happens fairly frequently. Numbers get revised all the time. You're not aware of this? Real numbers won't be out for a long time.

 

https://edition.cnn.com/2024/08/21/economy/bls-jobs-revisions/index.html

[Roo Island]

Just now, CallumWK said:

 

So you have nothing? Thanks for confirming that, over and out

Bye

[mogandave]

Just now, Roo Island said:

This happens fairly frequently. Numbers get revised all the time. You're not aware of this? Real numbers won't be out for a long time.

 

https://edition.cnn.com/2024/08/21/economy/bls-jobs-revisions/index.html

Never close to this big. 

 

Did you have a link showing huge adjustments every year?

[mogandave]

3 minutes ago, CallumWK said:

 

So you have nothing? Thanks for confirming that, over and out

I told you, he made it up.

[CallumWK]

4 minutes ago, Roo Island said:

Bye

 

I couldn't thank you more. You wonder why I see this for months already, but unfortunately I still have to see your drivel when someone replies to it?

 

Edited August 23 by CallumWK

[Roo Island]

46 minutes ago, mogandave said:

Never close to this big. 

 

Did you have a link showing huge adjustments every year?

Don't have time right now. But this isn't unusual.

 

https://eu.usatoday.com/story/money/2023/08/23/jobs-report-employment-down-306k/70658639007/

[Roo Island]

47 minutes ago, CallumWK said:

 

I couldn't thank you more. You wonder why I see this for months already, but unfortunately I still have to see your drivel when someone replies to it?

 

Go away

[CallumWK]

23 minutes ago, Roo Island said:

Go away

 

You wish. I'm gonna unblock you so I can see all the drivel you post, and for which I actually put you on ignore, so I can call you out on it. So no, I'm not going anywhere

[Roo Island]

3 minutes ago, CallumWK said:

 

You wish. I'm gonna unblock you so I can see all the drivel you post, and for which I actually put you on ignore, so I can call you out on it. So no, I'm not going anywhere

What drivel did I post?

[mdr224]

9 hours ago, Roo Island said:

The change over the past two years has been startling. Consumer price inflation, which peaked at 9 percent, is now under 3 percent. And the true inflation picture is arguably even better. U.S. inflation numbers place a large weight on a price nobody pays — the imputed rent on owner-occupied housing, which among other things lags far behind market rental rates. If we measure inflation the way other countries do, without that imputation, we’re all the way down to prepandemic inflation:

 

 

Although the unemployment rate has drifted up a bit, it remains historically low — yet as I’ve been saying, inflation appears to have been beaten anyway. What went right?

The simplest, most plausible answer is that high inflation was mainly caused by disruptions related to Covid. The pandemic caused big changes in both how we spent our money and how we worked, and it took time for the economy to adjust.

 

https://www.nytimes.com/2024/08/20/opinion/inflation-biden-economy.html

Gas prices have also been kept artificially low before elections as well. As soon as democrats stay in power things go back to the way they were, skyrocketing prices for everything

[Roo Island]

21 minutes ago, mdr224 said:

Gas prices have also been kept artificially low before elections as well. As soon as democrats stay in power things go back to the way they were, skyrocketing prices for everything

Proof? Or just misinformation

[mdr224]

2 minutes ago, Roo Island said:

Proof? Or just misinformation

Proof is i live here. I dont get my info from leftwing abc msnbc or any media for that matter

[TedG]

2 hours ago, Roo Island said:

We're at 3% now. Fed just announced a rate cut. Go figure

The rate is now 2.9%.

 

Since Jan 2021, the cumulative impact of JoeFlation is  20.84%.

 

Jan 2021  760.447

July 2024  918.931

 

918.931-760.447 = 158.484              158.484/760.447 = 20.84%

 

https://www.bls.gov/regions/mid-atlantic/data/consumerpriceindexhistorical1967base_us_table.htm

 

 

The impacts of JoeFlation cast a wide net.

 

Higher interest rates increase the cost of servicing the nation's debt. The projections range between $800 billion and $1 trillion. The CPI-W calculation adjusts the cost of living increases for Social Security.   This means SS costs more and adds more deficit.   Higher interest rates increase the costs of buying a home.

 

You voted for this mess. 

 

[Roo Island]

1 minute ago, TedG said:

The rate is now 2.9%.

 

Since Jan 2021, the cumulative impact of JoeFlation is  20.84%.

 

Jan 2021  760.447

July 2024  918.931

 

918.931-760.447 = 158.484              158.484/760.447 = 20.84%

 

https://www.bls.gov/regions/mid-atlantic/data/consumerpriceindexhistorical1967base_us_table.htm

 

 

The impacts of JoeFlation cast a wide net.

 

Higher interest rates increase the cost of servicing the nation's debt. The projections range between $800 billion and $1 trillion. The CPI-W calculation adjusts the cost of living increases for Social Security.   This means SS costs more and adds more deficit.   Higher interest rates increase the costs of buying a home.

 

You voted for this mess. 

 

I'm guessing you are not aware of the impact of the global pandemic on economies. Exacerbated by dodgy politicians like Trump

[Roo Island]

4 minutes ago, mdr224 said:

Proof is i live here. I dont get my info from leftwing abc msnbc or any media for that matter

Drank the kool-aid

[TedG]

1 minute ago, Roo Island said:

I'm guessing you are not aware of the impact of the global pandemic on economies. Exacerbated by dodgy politicians like Trump

 

Joe Biden is more responsible for high inflation than for abundant jobs

The main effect of the president’s economic policies has been to boost prices

 

Mr Biden’s stimulus did, however, put a rocket under inflation. In April “core” consumer prices, which exclude energy and food, were 13.4% higher than when he came to office. They have risen more than in other g7 countries, and their acceleration coincided with the introduction of Mr Biden’s stimulus. Research suggests that, even by September 2022, the largesse was pushing up core inflation by about four percentage points.

 

https://www.economist.com/leaders/2023/05/11/joe-biden-is-more-responsible-for-high-inflation-than-for-abundant-jobs

[TedG]

35 minutes ago, Roo Island said:

What drivel did I post?

 

https://aseannow.com/profile/372850-roo-island/

[KhunLA]

If the inflation on the chart is correct, not, then how come we got a COLA of 3.2%, for 2024 when that, the COLA is calculated with prices from July to September.  Where the chart shows a high of only 2.5%

 

They just pull the #s out of any orifice they please 

Really ... it's raining, disregard it yellow

 

 

 

[mdr224]

People here cant afford groceries anymore. Government and media can make up any statistics they want its not going to change the reality

[Roo Island]

7 minutes ago, TedG said:

 

 

Joe Biden is more responsible for high inflation than for abundant jobs

The main effect of the president’s economic policies has been to boost prices

 

Mr Biden’s stimulus did, however, put a rocket under inflation. In April “core” consumer prices, which exclude energy and food, were 13.4% higher than when he came to office. They have risen more than in other g7 countries, and their acceleration coincided with the introduction of Mr Biden’s stimulus. Research suggests that, even by September 2022, the largesse was pushing up core inflation by about four percentage points.

 

https://www.economist.com/leaders/2023/05/11/joe-biden-is-more-responsible-for-high-inflation-than-for-abundant-jobs

Paywall. But. He inherited a mess from Trump.

 

https://www.nbcnews.com/business/economy/trump-inherited-booming-economy-handed-biden-nation-shambles-n1255033

 

Trump inherited a booming economy — and handed Biden a nation 'in shambles'

 

“If you're the average person, do you care if GDP was 3.2 or 3.4 percent? No, you care if you have a job,” said one economist.

[Patong2021]

9 hours ago, Hanaguma said:

I think a better title would be "What created inflation? Bidenomics".   The jumps in basic costs, especially housing and food, are hard for ordinary Americans to bear.  And they have the Biden/Harris administration to thank for it. 

 

If your claim was even remotely true, we would not have seen inflation anywhere else. And yet, inflation exploded all over the world. The USA in contrast performed better or similar to other  advanced economies. For example, Hungary is a nation that has the exact opposite  of "Bidenomics"  and it had an inflation rate of 14.6% in 2022 while the USA had 6.5% Australia had 6.59% with Canada  at 6.80%.

 

Your argument is not based in actual fact, but is a statement intended to support your political agenda. 

 

[Roo Island]

2 minutes ago, mdr224 said:

People here cant afford groceries anymore. Government and media can make up any statistics they want its not going to change the reality

Most can afford groceries. But for sure, things are more expensive. Blame covid...and governments who responded badly to the worst pandemic in a century

[mogandave]

1 hour ago, Roo Island said:

Don't have time right now. But this isn't unusual.

 

https://eu.usatoday.com/story/money/2023/08/23/jobs-report-employment-down-306k/70658639007/

Yeah, you never have time to support your false claims, how convenient.

[mogandave]

12 minutes ago, Roo Island said:

Most can afford groceries. But for sure, things are more expensive. Blame covid...and governments who responded badly to the worst pandemic in a century

I thought you didn’t have time to support your false claims, but here you are making more unsupported false claims.

[Roo Island]

2 minutes ago, mogandave said:

Yeah, you never have time to support your false claims, how convenient.

The link shows a significant change in the numbers. Not unusual. Unless you fall for the right wing misinformation

[Patong2021]

4 minutes ago, mdr224 said:

People here cant afford groceries anymore. Government and media can make up any statistics they want its not going to change the reality

 

This is an exaggeration. They can afford basic groceries. Junk food and  unhealthy over processed food have increased in cost, but healthier food costs are holding steady or have decreased.  Bags of Doritos that have  become smaller and now cost USD 5 v $2.50, and junk food like hotdogs that were $7.50 are now  $10.00. Eggs and dairy products have come down in costs over the past year. Look at the data.

The average price of food in the United States rose by 2.2% in the 12 months ended July 2024. That's not bad considering the fact that labour costs and middleman costs have increased. 

 

It boggles the mind that people blame the federal government for  food prices.  Agricultural management is primarily a state mandated jurisdiction. Local labour management is primarily a state  mandate. The federal government indirectly subsidizes  food costs  through its billions of dollars handed pout to farmers for farming subsidies. Cheap farm labour is also provided by way of the  migrants both legal and illegal who enter the USA. The US House of representatives authorizes the spending and the House is Republican controlled. The same people who complain about government spending and migrants are the same ones  complaining about food costs. 

 

It's all about priorities. Instead of spending on junk food, soda, tobacco and alcohol people can purchase  better quality food and healthier products.