Inflation slows to 7.1% as economy cools off

[citygator]

Inflation is transitional. Biden was right. The Fed is wrong.

It’s time to change our minds about the cause of our current bout of inflation - Kevin Drum

E.J. Dionne writes today about inflation. But I would like to dissent in part and concur in part. Here's what he says: I was among those who did underestimate the immediate threat of inflation in early 2021, so I salute those (notably former treasury secretary Lawrence H. Summers) who warned us...

jabberwocking.com

Team Transitory was right all along. When you look at a better measure of core inflation, it peaked higher than we thought and sooner than we thought. It's been declining pretty steadily for the past 15 months.
So I dissent from the view that the inflation hawks were right. Thanks to the pandemic and its artificial rent controls, rents were a way bigger deal in our current bout of inflation than they were in the past.

The bottom line is that practically everything about this inflationary episode was caused by an unprecedented pandemic that we reacted to quickly. And good for us! It's what we should have done even if we couldn't quite tune it perfectly and we ended up with perhaps a year of heightened inflation.

But it also means that it was all artificial. It wasn't due to underlying monetary policy or out-of-control spending or unions demanding higher wages. It has no analogs in the past and no lessons for the future—unless we encounter another huge pandemic. In that case it does provide a lesson: we mostly did everything right. We'll do a bit better in the future if we respond faster and more competently to the pandemic itself; adopt the same enormous fiscal response we did this time with possibly some tweaks; and maybe go easier on the eviction moratoriums, which aren't really necessary as long as we get the stimulus stuff right. That's probably about it, though I'm open to other suggestions.

 

[Redfish]

Inflation is transitional. Biden was right. The Fed is wrong.

It’s time to change our minds about the cause of our current bout of inflation - Kevin Drum

E.J. Dionne writes today about inflation. But I would like to dissent in part and concur in part. Here's what he says: I was among those who did underestimate the immediate threat of inflation in early 2021, so I salute those (notably former treasury secretary Lawrence H. Summers) who warned us...

jabberwocking.com

Team Transitory was right all along. When you look at a better measure of core inflation, it peaked higher than we thought and sooner than we thought. It's been declining pretty steadily for the past 15 months.
So I dissent from the view that the inflation hawks were right. Thanks to the pandemic and its artificial rent controls, rents were a way bigger deal in our current bout of inflation than they were in the past.

The bottom line is that practically everything about this inflationary episode was caused by an unprecedented pandemic that we reacted to quickly. And good for us! It's what we should have done even if we couldn't quite tune it perfectly and we ended up with perhaps a year of heightened inflation.

But it also means that it was all artificial. It wasn't due to underlying monetary policy or out-of-control spending or unions demanding higher wages. It has no analogs in the past and no lessons for the future—unless we encounter another huge pandemic. In that case it does provide a lesson: we mostly did everything right. We'll do a bit better in the future if we respond faster and more competently to the pandemic itself; adopt the same enormous fiscal response we did this time with possibly some tweaks; and maybe go easier on the eviction moratoriums, which aren't really necessary as long as we get the stimulus stuff right. That's probably about it, though I'm open to other suggestions.

your indoctrination is complete. your mind belongs to your left wing masters. you are truly a sheep with no ability to think for yourself. Senile Joe has not been right about anything for over 50 years. he was the joke of congress when he was there. Obama knew it and said "never underestimate Joe's ability to fuck things up". Obozo was right.

 

[citygator]

your indoctrination is complete. your mind belongs to your left wing masters. you are truly a sheep with no ability to think for yourself. Senile Joe has not been right about anything for over 50 years. he was the joke of congress when he was there. Obama knew it and said "never underestimate Joe's ability to fuck things up". Obozo was right.

None of that addresses the fact that inflation is supply side driven not monetary policy. Keep barking you yippie dog.

 

[Redfish]

None of that addresses the fact that inflation is supply side driven not monetary policy. Keep barking you yippie dog.

the inflation we are experiencing today has one, and only one cause. senile Joe and his war on oil, coal and gas. when your drive up the cost of energy, the cost of everything goes up. Its not complicated (as Amy from ATT says)

 

[citygator]

the inflation we are experiencing today has one, and only one cause. senile Joe and his war on oil, coal and gas. when your drive up the cost of energy, the cost of everything goes up. Its not complicated (as Amy from ATT says)

Well. I study the impact of price on demand for a living. I’ll tell you what we found: 2% from gas/transportation, 3% from supply constraints, 2% reseller profit. We saw zero impact from stimulus since it was spent in about 5 weeks.

 

[beagle9]

Inflation is transitional. Biden was right. The Fed is wrong.

It’s time to change our minds about the cause of our current bout of inflation - Kevin Drum

E.J. Dionne writes today about inflation. But I would like to dissent in part and concur in part. Here's what he says: I was among those who did underestimate the immediate threat of inflation in early 2021, so I salute those (notably former treasury secretary Lawrence H. Summers) who warned us...

jabberwocking.com

Team Transitory was right all along. When you look at a better measure of core inflation, it peaked higher than we thought and sooner than we thought. It's been declining pretty steadily for the past 15 months.
So I dissent from the view that the inflation hawks were right. Thanks to the pandemic and its artificial rent controls, rents were a way bigger deal in our current bout of inflation than they were in the past.

The bottom line is that practically everything about this inflationary episode was caused by an unprecedented pandemic that we reacted to quickly. And good for us! It's what we should have done even if we couldn't quite tune it perfectly and we ended up with perhaps a year of heightened inflation.

But it also means that it was all artificial. It wasn't due to underlying monetary policy or out-of-control spending or unions demanding higher wages. It has no analogs in the past and no lessons for the future—unless we encounter another huge pandemic. In that case it does provide a lesson: we mostly did everything right. We'll do a bit better in the future if we respond faster and more competently to the pandemic itself; adopt the same enormous fiscal response we did this time with possibly some tweaks; and maybe go easier on the eviction moratoriums, which aren't really necessary as long as we get the stimulus stuff right. That's probably about it, though I'm open to other suggestions.

Bull shite..... ROTFLMBO... And just think, whoever wrote that bull crap above, THINKS that they had done so in such a very eloquent and very well spoken way. Well it may have been if it wasn't so full of propaganda and bull crap. Try harder leftist.

 

[beagle9]

Well. I study the impact of price on demand for a living. I’ll tell you what we found: 2% from gas/transportation, 3% from supply constraints, 2% reseller profit. We saw zero impact from stimulus since it was spent in about 5 weeks.

Otherwise none of Biden's bull crap is working. Now it may straighten out eventually on it's own, because American capitalism won't take the bull crap by lying down beneath Biden's rhetoric but for so long. Biden and his band of merry men will soon be a bunch of lame ducks.

 

[citygator]

Bull shite..... ROTFLMBO... And just think, whoever wrote that bull crap above, THINKS that they had done so in such a very eloquent and very well spoken way. Well it may have been if it wasn't so full of propaganda and bull crap. Try harder leftist.

No reply or dispute by you. Just cheerleading. Ignorance on display.

 

[Redfish]

Well. I study the impact of price on demand for a living. I’ll tell you what we found: 2% from gas/transportation, 3% from supply constraints, 2% reseller profit. We saw zero impact from stimulus since it was spent in about 5 weeks.

typical " study it" but you know nothing about it, are you a college prof? you are correct that the stimulus did nothing but waste taxpayer money. Inflation is the result of government policy, nothing else.

 

[citygator]

typical " study it" but you know nothing about it, are you a college prof? you are correct that the stimulus did nothing but waste taxpayer money. Inflation is the result of government policy, nothing else.

I’m an executive over billions of dollars in transactional analysis. Literally that’s what I do for a well paid living. Analyze it. Predict it. Plan it. Action against it. Stimulus was a 5 week tailwind with no lasting effect. I broke down where I see the cost increases coming from. You can take my estimates or not i don’t care.

 

[Redfish]

I’m an executive over billions of dollars in transactional analysis. Literally that’s what I do for a well paid living. Analyze it. Predict it. Plan it. Action against it. Stimulus was a 5 week tailwind with no lasting effect. I broke down where I see the cost increases coming from. You can take my estimates or not i don’t care.

your executive analysis confirmed what I said. inflation is caused by government policy, nothing else. The cost increases are the result of higher energy prices. Energy prices impact the cost of obtaining raw materials, manufacturing, transporting, and selling. Like it or not every price includes the cost of energy, and the price of energy was driven up by Biden's policies. Spin it however you like , that is what happened. it has happened in the past and is happening right now.

 

[Markle]

The bottom line is that practically everything about this inflationary episode was caused by an unprecedented pandemic that we reacted to quickly. And good for us! It's what we should have done even if we couldn't quite tune it perfectly and we ended up with perhaps a year of heightened inflation.

That's just goofy.

 

[citygator]

your executive analysis confirmed what I said. inflation is caused by government policy, nothing else. The cost increases are the result of higher energy prices. Energy prices impact the cost of obtaining raw materials, manufacturing, transporting, and selling. Like it or not every price includes the cost of energy, and the price of energy was driven up by Biden's policies. Spin it however you like , that is what happened. it has happened in the past and is happening right now.

2% was transportation and 1% was gas prices, the other 1% was congestion from opening back up made equipment scarce and expensive. Shipping is back down again. Zero cost issues from acquiring containers or ship space.

 

[Markle]

None of that addresses the fact that inflation is supply side driven not monetary policy. Keep barking you yippie dog.

Seriously? How desperate are you?

Where did you learn that pouring trillions of worthless dollars into an economy won't cause rampant inflation?

Main Causes of Inflation

You may have heard that in November 2021, inflation reached the highest rate in 30 years, but what does that mean, and how does it impact you? Let’s start with the basics. What Causes Inflation? Ca…

mint.intuit.com

 

[Markle]

Well. I study the impact of price on demand for a living. I’ll tell you what we found: 2% from gas/transportation, 3% from supply constraints, 2% reseller profit. We saw zero impact from stimulus since it was spent in about 5 weeks.

Aww, come on, you're just joshing, right? Being facetious?

 

[dudmuck]

the inflation we are experiencing today has one, and only one cause. senile Joe and his war on oil, coal and gas. when your drive up the cost of energy, the cost of everything goes up. Its not complicated (as Amy from ATT says)

 

[Markle]

I’m an executive over billions of dollars in transactional analysis. Literally that’s what I do for a well paid living. Analyze it. Predict it. Plan it. Action against it. Stimulus was a 5 week tailwind with no lasting effect. I broke down where I see the cost increases coming from. You can take my estimates or not i don’t care.

 

[Redfish]

so what? its their money, they can spend it or waste it as they choose. there is no hypocrisy there, nice try but you get an F

 

[beagle9]

your executive analysis confirmed what I said. inflation is caused by government policy, nothing else. The cost increases are the result of higher energy prices. Energy prices impact the cost of obtaining raw materials, manufacturing, transporting, and selling. Like it or not every price includes the cost of energy, and the price of energy was driven up by Biden's policies. Spin it however you like , that is what happened. it has happened in the past and is happening right now.

Exactly as it came out of his own mouth. No different than him committing a serious crime in Ukraine with his quid pro quo, and whatever else him and his son was into there. Funny how Zelensky has nothing but praise for the man, but then again he could he leaning on him because of what he knows, otherwise he is just using Biden.

Yep he blabbed his narcissistic mouth off about that fired prosecutor, and it was just like a braggart would do because he figure that his representation of America needed that kind of mirror imaging. Well America doesn't need to be involved in corruption, and if we have been perceived as a corrupt nation now, then it's definitely Biden's fault.

They used Trump to get to where they are now, otherwise their coup worked against him.

 

[beagle9]

2% was transportation and 1% was gas prices, the other 1% was congestion from opening back up made equipment scarce and expensive. Shipping is back down again. Zero cost issues from acquiring containers or ship space.

That entire scam at the ports was pure political bull shite. You explain why those ship's were made to sit off shore, and not be unloaded on the ports ? It was a manufactured crisis just like the border situation was a manufactured crisis (look how long it took the Biden administration to admit the border was a crisis).

First they blamed the trucker's at the ports, and then when that backfired they blamed dock worker's and labor. It was all bull shite because COVID didn't cause that bull shite, it is for what most think was "a manufactured crisis" just like the border, the climate, the energy crisis etc.

A lot is going to be learned about all this in the coming years, but first Biden has to be impeached or removed from office by way of the 25th or he just resigns.