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Were you in coma in 2020?
You did not see all the spending the Govt was doing? Those nice checks they kept sending out to people, the one we got even was followed by a lovely letter from Trump himself telling us the money was due to him.
Do you really, honestly, think all that spending in 2020 did not have any impact on the inflation that followed it? Really?
I have a BA in Economics from the University of Florida and a Masters Degree from University of Michigan. Also a BA in History from UF. Plus I have been in business forecasting and analysis for 30 years. I feel like I can muddle my way through a discussion on economic theory and monetary policy.And If a frog had wings, he wouldn't thump his little bottom blue on the rocks.
I do not believe that you're qualified for any such discussion regarding matters of economic theory or monetary policy.
Few of you are. Very, very few...
Sigh. Why do people not look at wages since 2019 and CPI since 2019 and see they offset just fine and if you are in the bottom wage earners you are actually running ahead?Sigh .. why do people confuse inflation rates with the outcomes of record-high inflation? Rates are down, yet the compounded, additional expenses aren't going down.
Again. Food prices are still about 6% of your expenses which is very small and hasnt really changed. What has changed is that eating out has increased from 4% of your income to 5%. That is a 1% increase in your wage consumption due to eating out. So dining is costing people more but it is generally not an issue eating in.I wouldn't put much faith in what our government says inflation is. They have a vested interest in low balling that number because SS payments are tied to inflation. Anyone who does grocery shopping will tell you that food prices have gone up considerably.
www.marketwatch.com
Sigh .. McDonald's workers, as their primary income source, are keeping up with the compounded issues inflation has met while not laying off or automating their workforce (as one example)?Sigh. Why do people not look at wages since 2019 and CPI since 2019 and see they offset just fine and if you are in the bottom wage earners you are actually running ahead?
6%? Seems kind of low. How much as that increased since 2019? How about housing? Let's use a 2 bedroom apartment. What percentage of the average family's budget would that be? And how much has that gone up since 2019?Again. Food prices are still about 6% of your expenses which is very small and hasnt really changed. What has changed is that eating out has increased from 4% of your income to 5%. That is a 1% increase in your wage consumption due to eating out. So dining is costing people more but it is generally not an issue eating in.
As I assume you know, it happens all the time.
When have we ever had significant revisions to CPI?
www.bls.gov
fredblog.stlouisfed.org
McDonalds workers as primary income sources were broke in 2019 and they are broke in 2024.Sigh .. McDonald's workers, as their primary income source, are keeping up with the compounded issues inflation has met while not laying off or automating their workforce (as one example)?
Geez .. it's not rocket science.
You've made my point. Thank you!McDonalds workers as primary income sources were broke in 2019 and they are broke in 2024.
They are currently slightly less broke in 2024 because they went from $9 per hour to $16 per hour and inflation aint up 80%.
There are no McDs workers who feel rich even with 80% wage inflation and it isnt price inflation. Its hard to get by at the bottom by design in the US.
Oh, I know it did. I also know that Biden's continued pumping of money into things didn't help.
As I understood it, that money was pretty much a demand from the left which Trump caved to. But I have to say I am not all that well versed in that area.
Overblown right wing talking pointOh, I know it did. I also know that Biden's continued pumping of money into things didn't help.
I recall some of that.Trump demanded bigger checks be sent out in the 3rd wave than even the Dems were willing to do....so yeah it was not all the Dems.
The stimulus drove a negligible amount of inflation from either Trump or Biden. Almost all the stimulus replaced lost demand from shutdowns. If it was demand driven why didnt we see the GDP shoot up?Correct, Biden made it even worse.
Trump demanded bigger checks be sent out in the 3rd wave than even the Dems were willing to do....so yeah it was not all the Dems.
As I assume you know, it happens all the time.
History
Revisions and updates to CPI data | FRED Blog
Why the recent revision in how to calculate so-called “core” inflation?
You buy that
No idea. Sometime in your lifetime is my best guess.
Did you learn English as a second language?Did you click you second link? Revisions are tiny
Count on it. It's Darwinian.Behold the "easily predictable"
This ^ post is a good one for a number of reasons. Making me look up saeculum is way up on the list. Very cool.No idea. Sometime in your lifetime is my best guess. Maybe look up the saeculum cycle. I don't really care to convince you. You are nothing to me. Whether you are prepared for it or not is of no concern to me.
