Obama's 88 economy

Discussion in 'Economy' started by CrusaderFrank, Mar 1, 2012.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Inflation rearin' its ugly head...
    :mad:
    Gasoline pushes up US inflation, dents confidence
    Fri Mar 16, 2012 * Consumer prices up 0.4 pct, largest rise in 10 months * Gasoline accounts for more than 80 pct of CPI rise * Core CPI muted, showing lack of broad price pressure * Consumer confidence slips in early March on gasoline
     
  3. DSGE
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    DSGE VIP Member

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    And from the figures they report we see that half of headline number comes from shocks to the price of energy. Do we want to start measuring the sustained increase in the general level of prices with a figure that's thrown out wildly by transitory supply shocks to one item, do we? I guess since you're trying to pin this on the president, you'll probably just go with whichever measure is biggest, right?

    I get that everybody here is super partisan, but at least make a fucking effort to disguise your bullshit in an approximation of a logical thought.
     
  4. editec
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    editec Mr. Forgot-it-All

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    Yup.

    Bad times for the working classes.

    And suddenly, our Republican friends claim they care?

    Where were they when all this started?
     
  5. bugs
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    bugs Senior Member

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  6. DSGE
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    DSGE VIP Member

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    They were bailing out banks, running up deficits, engaging in two wars, and sitting on $10 trillion of national debt. But then Obama came and ruined small government.
     
  7. DSGE
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    DSGE VIP Member

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    So you won't believe statistics from the BLS for some reason, but you're perfectly content believing any old statistics that some guy on the internet may as well have just made up. If I had a website saying the real rate of unemployment was 5%, would you believe me?
     
  8. Toro
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    Toro Diamond Member

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    Confirmation bias - Wikipedia, the free encyclopedia

    Inflation isn't 8%.

    The argument during the housing boom was that the CPI didn't accurately capture the rising price of homes and thus inflation was understated. I agree. However, if that argument was correct, it's also correct on the downside too. Home prices have collapsed, and the CPI underestimated the decline of inflation, if not outright deflation. But those who are convinced that there is massive price inflation ignore this now and instead focus on food, gas and commodity price inflation. So the inflationistas who pointed to soaring housing costs as to why inflation was higher than the official figures are now ignoring collapsing housing prices and are instead focusing on other areas since they have a narrative they want to perpetuate.
     
    Last edited: Mar 17, 2012
  9. bugs
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    bugs Senior Member

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    no.
     
  10. DSGE
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    DSGE VIP Member

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    That's (one of the many reasons) why it's a good idea to look at NGDP. You don't have to pick a basket of goods or a weighting system or have multiple indexes or any of that shit. There's only one NGDP and the measurement is straight forward.
     

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