Economy GOP back to Inflation worries. "Hyperinflation" (Update: 2022 Inflation Highest in 40 Years)

[PEB]

Meh. A blip does not a trend make. And that's if the assertion is even accurate.

Edit: ah yes, of course, just as I guessed, when seasonally adjusted, no change,

US consumer prices heat up in March; seen delaying Fed rate cut

U.S. consumer prices increased more than expected in March as Americans continued to pay more for gasoline and rental housing, leading financial markets to anticipate that the Federal Reserve would delay cutting interest rates until September.

www.reuters.com

"The first quarter's stronger outturn reflects the often-choppy nature of monthly price measurement and that the pickup is likely to be a 'bump' on the road back toward the Fed's inflation target rather than a sign that slowing inflation is reversing course," said Sarah House, a senior economist at Wells Fargo in Charlotte, North Carolina."


More made up crap, anything to find an excuse to whine, Pathetic.

This crowd are running off but I posted a month ago predicting this was going to happen. When Ukraine was blowing up Russian production facilities.

I said it was going to hit us as oil production companies were cutting production an Ukraine was stepping up attacks. Caused US administration to oddly request Ukraine not attack Russian oil production. But I am all for Ukraine attacks because it hurts Russia.

Gas pump prices is up an that impacts everything. Iran impacting oil shipments to slowing things down more.

 

[Andy Capp]

This crowd are running off but I posted a month ago predicting this was going to happen. When Ukraine was blowing up Russian production facilities.

I said it was going to hit us as oil production companies were cutting production an Ukraine was stepping up attacks. Caused US administration to oddly request Ukraine not attack Russian oil production. But I am all for Ukraine attacks because it hurts Russia.

Gas pump prices is up an that impacts everything. Iran impacting oil shipments to slowing things down more.

But if it's mainly the price of gas that is up it's not really a true indicator of the overall inflation trend, is it?

 

[Lucas1980]

So much for "Transitory" ......Janet

 

[cottagecheesefan]

So much for "Transitory" ......Janet

This is a pretty brutal chart. Doesn’t even include rent, houses, new cars, eating out, which are all way up.

 

[Lucas1980]

This is a pretty brutal chart. Doesn’t even include rent, houses, new cars, eating out, which are all way up.

Our gas here is 3.50 for unleaded this morning and I went grocery shopping this morning and I buy the same exact things and the prices went up from just two weeks ago...shits getting crazy.

 

[cottagecheesefan]

Our gas here is 3.50 for unleaded this morning and I went grocery shopping this morning and I buy the same exact things and the prices went up from just two weeks ago...shits getting crazy.

I have been seeing $3.59 - 3.99 the last couple weeks. Thankfully it hasn't broken past $4, which it did when gas was spiking a couple years ago.

 

[DrDune]

You guys are actually saving on gas prices. That is, as long as you convince yourself that the "seasonally adjusted" price is more important than the actual price you pay. Peace of mind is just a mere cognitive dissonance away!

 

[HomeCheese]

You guys are actually saving on gas prices. That is, as long as you convince yourself that the "seasonally adjusted" price is more important than the actual price you pay. Peace of mind is just a mere cognitive dissonance away!

How much is the true cost per gallon when you factor in all our tax dollars that have gone towards insuring access to the resources?

 

[White Whale]

This is one of the many reasons Biden is losing support with young voters.

 

[DrDune]

How much is the true cost per gallon when you factor in all our tax dollars that have gone towards insuring access to the resources?

I don't know the answer to that. What I do know is that the vast majority Americans care about one thing and one thing only - the actual cost per gallon at the pump. When an administration attempts to use a 'seasonally adjusted' price instead of the actual price to fabricate an economic metric, it's bullshit. It's bullshit if Trump does it, and it's bullshit when Biden does it.

Here is the BLS statement, "Leading the March decline in the index for final demand goods, prices for gasoline decreased 3.6 percent." The simple question is, did gasoline prices decrease 3.6%? Not at all. Bullshit, except to those who have an agenda to push.

 

[cottagecheesefan]

I don't know the answer to that. What I do know is that the vast majority Americans care about one thing and one thing only - the actual cost per gallon at the pump. When an administration attempts to use a 'seasonally adjusted' price instead of the actual price to fabricate an economic metric, it's bullshit. It's bullshit if Trump does it, and it's bullshit when Biden does it.

Here is the BLS statement, "Leading the March decline in the index for final demand goods, prices for gasoline decreased 3.6 percent." The simple question is, did gasoline prices decrease 3.6%? Not at all. Bullshit, except to those who have an agenda to push.

this meme sums it up well

 

[HomeCheese]

I don't know the answer to that. What I do know is that the vast majority Americans care about one thing and one thing only - the actual cost per gallon at the pump. When an administration attempts to use a 'seasonally adjusted' price instead of the actual price to fabricate an economic metric, it's bullshit. It's bullshit if Trump does it, and it's bullshit when Biden does it.

Here is the BLS statement, "Leading the March decline in the index for final demand goods, prices for gasoline decreased 3.6 percent." The simple question is, did gasoline prices decrease 3.6%? Not at all. Bullshit, except to those who have an agenda to push.

Yeah, for sure. It would never occur to most Americans to think of the big picture like this - Actually consider all the global actions that happen and have happened to insure the world has access to the resources.

I am always surprised this is not discussed more.

 

[Madmick]

Meh. A blip does not a trend make. And that's if the assertion is even accurate.

Edit: ah yes, of course, just as I guessed, when seasonally adjusted, no change,

US consumer prices heat up in March; seen delaying Fed rate cut

U.S. consumer prices increased more than expected in March as Americans continued to pay more for gasoline and rental housing, leading financial markets to anticipate that the Federal Reserve would delay cutting interest rates until September.

www.reuters.com

"The first quarter's stronger outturn reflects the often-choppy nature of monthly price measurement and that the pickup is likely to be a 'bump' on the road back toward the Fed's inflation target rather than a sign that slowing inflation is reversing course," said Sarah House, a senior economist at Wells Fargo in Charlotte, North Carolina."


More made up crap, anything to find an excuse to whine, Pathetic.

Nobody cares about CPI thumping. The PCE gives a better overall indication of price increases, and here is a chart dating back to when Trump took office. It's always going up. Here, let me show you what the line looks like starting with Trump's inaugration:

Personal Consumption Expenditures: Chain-type Price Index | FRED | St. Louis Fed

Graph and download economic data for Personal Consumption Expenditures: Chain-type Price Index from Jan 1959 to Mar 2024 about chained, headline figure, PCE, consumption expenditures, consumption, personal, inflation, price index, indexes, price, and USA.

fred.stlouisfed.org

There is a remarkable acceleration that is clearly delineated between Trump and Biden's adminstration. That includes Trump's 2020 weathering of the COVID crisis, so you can't blame it on the pandemic. Hardly scientific, but economics isn't science, as much as economists wish us all to believe it is, and it's kind of incredible. If one can just look at this chart with neutral eyes is sort of impossible not to be impressed by that one simple correlation explaining the difference across a January-20-2021 divider line.

This is a pretty brutal chart. Doesn’t even include rent, houses, new cars, eating out, which are all way up.

Jaw dropping.

You guys are actually saving on gas prices. That is, as long as you convince yourself that the "seasonally adjusted" price is more important than the actual price you pay. Peace of mind is just a mere cognitive dissonance away!

Now this isn't jaw-dropping at all. More often than not Zerohedge is such garbage. You don't think "seasonally adjusting" gas prices is appropriate? Do you really not notice how gas prices spike with the onset of summer every year?

 

[Andy Capp]

Nobody cares about CPI thumping. The PCE gives a better overall indication of price increases, and here is a chart dating back to when Trump took office. It's always going up. Here, let me show you what the line looks like starting with Trump's inaugration:

Personal Consumption Expenditures: Chain-type Price Index | FRED | St. Louis Fed

Graph and download economic data for Personal Consumption Expenditures: Chain-type Price Index from Jan 1959 to Mar 2024 about chained, headline figure, PCE, consumption expenditures, consumption, personal, inflation, price index, indexes, price, and USA.

fred.stlouisfed.org

There is a remarkable acceleration that is clearly delineated between Trump and Biden's adminstration. That includes Trump's 2020 weathering of the COVID crisis, so you can't blame it on the pandemic. Hardly scientific, but economics isn't science, as much as economists wish us all to believe it is, and it's kind of incredible. If one can just look at this chart with neutral eyes is sort of impossible not to be impressed by that one simple correlation explaining the difference across a January-20-2021 divider line.

Jaw dropping.

Now this isn't jaw-dropping at all. More often than not Zerohedge is such garbage. You don't think "seasonally adjusting" gas prices is appropriate? Do you really not notice how gas prices spike with the onset of summer every year?

So, you don't think for one second people could be spending more because they have more money? During the pandemic, people saved money like mad and they've been spending like mad ever since.

 

[Madmick]

So, you don't think for one second people could be spending more because they have more money? During the pandemic, people saved money like mad and they've been spending like mad ever since.

As I recall, the economy and spending were incredibly good before the pandemic, and yet I don't observe the same problematic acceleration in prices during that period.

You appear determined to see what you want to see.

 

[cottagecheesefan]

Nobody cares about CPI thumping. The PCE gives a better overall indication of price increases, and here is a chart dating back to when Trump took office. It's always going up. Here, let me show you what the line looks like starting with Trump's inaugration:

Personal Consumption Expenditures: Chain-type Price Index | FRED | St. Louis Fed

Graph and download economic data for Personal Consumption Expenditures: Chain-type Price Index from Jan 1959 to Mar 2024 about chained, headline figure, PCE, consumption expenditures, consumption, personal, inflation, price index, indexes, price, and USA.

fred.stlouisfed.org

There is a remarkable acceleration that is clearly delineated between Trump and Biden's adminstration. That includes Trump's 2020 weathering of the COVID crisis, so you can't blame it on the pandemic. Hardly scientific, but economics isn't science, as much as economists wish us all to believe it is, and it's kind of incredible. If one can just look at this chart with neutral eyes is sort of impossible not to be impressed by that one simple correlation explaining the difference across a January-20-2021 divider line.

Jaw dropping.

Now this isn't jaw-dropping at all. More often than not Zerohedge is such garbage. You don't think "seasonally adjusting" gas prices is appropriate? Do you really not notice how gas prices spike with the onset of summer every year?

What about all the other categories? Including rent, houses, new cars, etc? Is there not inflation?

Has gas not gone up quite a bit under Biden?

What is your argument overall other than to attack the source over one small point?

 

[Madmick]

What about all the other categories? Including rent, houses, new cars, etc? Is there not inflation?

Has gas not gone up quite a bit under Biden?

What is your argument overall other than to attack the source over one small point?

You clearly aren't comprehending what I've written.

 

[cottagecheesefan]

You clearly aren't comprehending what I've written.

Well, I checked and thought you were quoting him about zerohedge, thinking that was the same source of my graph lol, it isn’t, but I think zerohedge did use that graph/source in a recent article/post

Not sure if your jaw dropping comment was sarcasm based on above. I think it is, as it is a pretty stark contrast, without even including the other categories I mention.

 

[Andy Capp]

As I recall, the economy and spending were incredibly good before the pandemic, and yet I don't observe the same problematic acceleration in prices during that period.

You appear determined to see what you want to see.

I have the data to back up what I said. I've posted it before so please look it up or take it as given because I have no energy to go find it again--during the pandemic, Americans saved billions of dollars because they had no place to spend it. Canadians did the same and we have (collectively) something around $350B in savings right now. The difference is, Americans are spending their savings and Canadians are not. That's one reason why our economy is at pretty much zero growth while the US out paces every other developed country on the planet, pretty much.

 

[HereticBD]

So, you don't think for one second people could be spending more because they have more money? During the pandemic, people saved money like mad and they've been spending like mad ever since.

If the economy was good, people's opinions would reflect that. It's as simple as that, and it always has been that simple. Your "data" does not reflect reality. When the economy has a sub 40% rating, it sucks. You're gonna have to come to terms that people aren't buying the piss in their face as rain. Now go eat your charts and graphs for dinner.