Obama's 88 economy

[CrusaderFrank]

Obama's 88 economy

8% unemployment (really much higher) and
8% inflation

Inflation: Not as low as you think - CBS News

 

[waltky]

Inflation rearin' its ugly head...

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

WASHINGTON, March 16 (Reuters) - U.S. consumer prices rose the most in 10 months in February as the cost of gasoline spiked, but there was little sign that underlying inflation pressures were building up. Surging gasoline prices put a small dent in consumer confidence early this month, other data showed on Friday. Still, Americans do not believe the sharp run-up in prices will last. The Labor Department said the Consumer Price Index rose 0.4 percent in February after advancing 0.2 percent in January. Gasoline accounted for more than 80 percent of the rise.

Stripping out volatile food and energy costs, the so-called core CPI edged up just 0.1 percent. "Consumer purchasing power, at least for the next few months, is going to remain pressured by rising gasoline prices," said Sam Bullard, a senior economist at Well Fargo Securities in Charlotte, North Carolina. However, he said a trend toward lower inflation was still in place. Consumer prices rose 2.9 percent last month from a year-ago, unchanged from January but down from a peak of 3.9 percent in September. The core index was up 2.2 percent over the 12 months through February, slowing from 2.3 percent in January.

The Federal Reserve said on Tuesday the recent spike in energy costs would likely lift inflation only temporarily. Over a longer horizon, it said inflation was poised to run at or below its 2 percent target.

GASOLINE HURTS SENTIMENT

 

[DSGE]

Admittedly, the purchases that the EPI tracks make up slightly less than 40 percent of the average household budget.

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.

 

[editec]

Yup.

Bad times for the working classes.

And suddenly, our Republican friends claim they care?

Where were they when all this started?

 

[bugs]

Obama's 88 economy

8% unemployment (really much higher) and
8% inflation

Inflation: Not as low as you think - CBS News

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

 

[DSGE]

Yup.

Bad times for the working classes.

And suddenly, our Republican friends claim they care?

Where were they when all this started?

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.

 

[DSGE]

Obama's 88 economy

8% unemployment (really much higher) and
8% inflation

Inflation: Not as low as you think - CBS News

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

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?

 

[Toro]

Obama's 88 economy

8% unemployment (really much higher) and
8% inflation

Inflation: Not as low as you think - CBS News

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

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?

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.

 

[bugs]

Obama's 88 economy

8% unemployment (really much higher) and
8% inflation

Inflation: Not as low as you think - CBS News

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

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?

no.

 

[DSGE]

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

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?

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.

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.

 

[DSGE]

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

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?

no.

Okay, so why would Shadowstats be a valid source then?

 

[bugs]

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?

no.

Okay, so why would Shadowstats be a valid source then?

google john williams of shadowstats and you can SEE for yourself why his Opinion is worth something..

 

[code1211]

Admittedly, the purchases that the EPI tracks make up slightly less than 40 percent of the average household budget.

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.

What policy has the Big 0 enacted to help reduce the price of oil and the price of all fuels.

Spare me the Green BS. This has nothing, NOTHING, to do at all with energy at any level.

Our country runs on fossil fuels and nuclear.

What policies has the Big 0 enacted to help us have more and cheaper energy

 

[DSGE]

no.

Okay, so why would Shadowstats be a valid source then?

google john williams of shadowstats and you can SEE for yourself why his Opinion is worth something..

I have. I've been through his website and can't find any sort of handbook of methods or similar detailed explanation of what he actually does to the data to get the figures he gets. The best I can tell, all he does to get from the official inflation rate to his stat is just add 4%.

 

[code1211]

Yup.

Bad times for the working classes.

And suddenly, our Republican friends claim they care?

Where were they when all this started?

When all what started? Are you are referring to the period when the Democrats controlled both Houses of Congress with filibuster proof majorities.

Immediately prior to that time, Unemployment was 4.7%, inflation was non existent, there were cranes everywhere breaking ground on new construction, the economy was growing at about 6% and the Democrats were saying it was the worst economy since the Great Depression.

By the same measures now, Unemployment is about 10%, inflation is about 8%, Finding a construction project is like trying to find an honest politician and the economic growth is at about 1.5%.

How long has it been since this "Worst Economy" was seen? The 7 Plagues of Egypt?

 

[DSGE]

Admittedly, the purchases that the EPI tracks make up slightly less than 40 percent of the average household budget.

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.

What policy has the Big 0 enacted to help reduce the price of oil and the price of all fuels.

Spare me the Green BS. This has nothing, NOTHING, to do at all with energy at any level.

Our country runs on fossil fuels and nuclear.

What policies has the Big 0 enacted to help us have more and cheaper energy

Absolutely nothing. Obviously, absolutely nothing, because the President has no control whatsoever over the price of oil. Actually that's not entirely true. The President can significantly increase the price of oil by declaring war on an oil exporting country. That's about it. The price of oil is set by the market.

Speaking of which, what's the deal with demanding that the President do something about the price of oil? Isn't the whole Republican shtick that government should get the fuck out of the way and let markets work?

 

[code1211]

Yup.

Bad times for the working classes.

And suddenly, our Republican friends claim they care?

Where were they when all this started?

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.

Sadly, everything you said above is true.

 

[DSGE]

Yup.

Bad times for the working classes.

And suddenly, our Republican friends claim they care?

Where were they when all this started?

When all what started? Are you are referring to the period when the Democrats controlled both Houses of Congress with filibuster proof majorities.

Immediately prior to that time, Unemployment was 4.7%, inflation was non existent, there were cranes everywhere breaking ground on new construction, the economy was growing at about 6% and the Democrats were saying it was the worst economy since the Great Depression.

By the same measures now, Unemployment is about 10%, inflation is about 8%, Finding a construction project is like trying to find an honest politician and the economic growth is at about 1.5%.

How long has it been since this "Worst Economy" was seen? The 7 Plagues of Egypt?

What time period exactly are you referring to?

 

[code1211]

Obama's 88 economy

8% unemployment (really much higher) and
8% inflation

Inflation: Not as low as you think - CBS News

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

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?

Our population growth goes on pretty steady. The total number of working Americans is far below that of August 2008. It's still below that of February 2009.

We have had a sudden run up of hiring in recent months and it looks like the Big 0 may end his single term with a net increase in working Americans, but just barely.

That's what the BLS says.

As such, he will avoid being the first president since Hoover to have fewer Americans working at the end of his Presidency than at the start. He got lucky.

 

[DSGE]

Shadow Government Statistics : Home Page it's closer to 25% Unemployment..

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?

Our population growth goes on pretty steady. The total number of working Americans is far below that of August 2008. It's still below that of February 2009.

We have had a sudden run up of hiring in recent months and it looks like the Big 0 may end his single term with a net increase in working Americans, but just barely.

That's what the BLS says.

As such, he will avoid being the first president since Hoover to have fewer Americans working at the end of his Presidency than at the start. He got lucky.

Whatever. I don't care. I'm not pro-Obama. Although I would prefer that you didn't call him the Big O out of respect for the late Roy Orbison. I don't care about how it looks for Obama. But if you don't like the President, you don't get to pick the biggest measure of inflation or unemployment you can find and use that, despite it being obviously bullshit. The fact that he has a website doesn't make John Williams an authority on statistical measures. Any retard can get a website. You need transparency and peer review.