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re: So did the fed really fix inflation or did the supply chain problem etc just fade out
Posted on 2/4/24 at 8:44 pm to TutHillTiger
Posted on 2/4/24 at 8:44 pm to TutHillTiger
did Kamala send you an activate e-mail?
This post was edited on 2/4/24 at 8:46 pm
0
Posted on 2/4/24 at 8:47 pm to yaboidarrell
quote:
Groceries are still expensive AF
That’s what kills me about ‘slowing inflation’. Is it slowing down? Maybe. Have prices dramatically increased over the last several years and are in no way coming down? Absolutely.
Posted on 2/4/24 at 8:48 pm to TutHillTiger
As soon as everyone's salary has gone up the 30% inflation has over the past 3 years, then we'll call it even
Posted on 2/4/24 at 8:53 pm to billjamin
quote:
Or get a whole chicken at Sam’s for $4.
Cause who,doesn’t want to go,to a Super Bowl party with 5 whole,chickens from Sam’s instead of some wings?
Posted on 2/4/24 at 9:10 pm to TutHillTiger
Talking about the fed in any sort of enabling and/or positive way is counter productive to American interests.
Posted on 2/4/24 at 9:16 pm to GoldenGuy
quote:
Did everything go back to the prices they were?
So no, they haven’t fixed shite
Inflation going down just means prices are going up less rapidly. They'll likely never go back down. That's deflation.
Posted on 2/4/24 at 9:39 pm to Stateguy
quote:
Improving inflation does not mean deflation. Anyone suggesting that lower inflation rates means prices are back to where they were a few years ago doesn't understand what the terms mean
Slowing down inflation just slows down the hurt. I wouldn’t call it improving.
They are still telling you everything will go up x amount this year, on top of what it already went up over the past 3 years. Yay.
Posted on 2/4/24 at 9:44 pm to SingleMalt1973
quote:
4 lbs of Chicken Wings will run you right at $20. Used to be about $12
Posted on 2/4/24 at 9:44 pm to dgnx6
quote:
They are still telling you everything will go up x amount this year, on top of what it already went up over the past 3 years. Yay.
Yea. It’s always been like that.
Prices went up 8% cumulatively during the trump admin. That’s 8% on top of all the inflation we’ve experienced before.
Posted on 2/4/24 at 11:22 pm to Stateguy
quote:
Improving inflation does not mean deflation. Anyone suggesting that lower inflation rates means prices are back to where they were a few years ago doesn't understand what the terms mean
I’m sure “Downshiftandfloorit” understands govt doublespeak. Do you understand that what is wanted is prices to roll back, so we can all regain the value we all earned. . . . and cease paying a biden created tax none of us voted for.
Stateguy/govt frick !
Posted on 2/4/24 at 11:34 pm to TutHillTiger
The government just breaks stuff. They don't fix nothing.
Posted on 2/4/24 at 11:37 pm to TutHillTiger
quote:
did the fed really fix inflation
Where are you seeing deflation?
This post was edited on 2/4/24 at 11:38 pm
Posted on 2/4/24 at 11:41 pm to OWLFAN86
quote:Yes, of course. Are you expecting them to go down? When has that ever happened in your life?
prices are still up
Posted on 2/5/24 at 12:10 am to imjustafatkid
The last time the US had negative inflation, or deflation, where consumer prices decrease, was 2007-2008. That time is known as the Great Recession. We don’t want to go back to that kind of economy.
Posted on 2/5/24 at 12:39 am to TutHillTiger
quote:
That said, I am still not sure the rate hikes really did that much to curb inflation, and think it was more the covid money and supply disruption stopped.
It’s hard to have a discussion on the topic when there is a misunderstanding about the terms used. So let me say- prices are stupid high. I don’t like paying them. The dog food I buy is about 60% higher than it was in 2019. Basic stuff is up about 30-60% it seems. So yeah, I roll my eyes too when I hear 3% or 6% inflation.
But that’s not how the govt calculates it. They take a broad “basket” of items and calculate how much the price CHANGES month over month.
The groceries we buy can or cannot be included in the calculation depending on the reporting metric. This also applies to gasoline. Thus the metric called Core CPI which is also known as “CPI ex. Food and Energy” meaning it doesn’t factor in the change in prices of the food you buy or the gasoline you use.
Home prices and used car prices make up a heavy weighting in the calculation of inflation. But the govt doesn’t pull home prices from Zillow or ask realtors what they’re pricing houses at. You wanna know how they calculate the heaviest weighting in the inflation calculation?? They literally call random homeowners across the country and ask them what they think they could rent their house for. I’m not making this up. It’s called Owners Equivalent Rent (OER) and it plays a huge factor into the reported inflation. Go Google it, you’ll see what I mean. There’s more I could go into, but I’ll leave it here for now.
I remember the days when The Fed was begging for inflation and it just wouldn’t happen.
Since 2008 we didn’t really have any inflation, at least that people noticed.
Also…
Posted on 2/5/24 at 1:02 am to TchoupitoulasTiger
Thanks Tchap.
I forget people don’t know that. I was responding to 60 minutes from tonight. They are committed to getting core inflation as they define it under 2%.
The bad news for everyone that the fair chairman just admitted that prices are ever going down unless we hit a serious recession. I hope all you “boys” get it now. The Fed don’t give a frick about you or most Americans, they were created in private to serve the banking sectors. We don’t need more fake currency we need to opt out of all banks and into savings and loans etc. They are stealing us blind
I forget people don’t know that. I was responding to 60 minutes from tonight. They are committed to getting core inflation as they define it under 2%.
The bad news for everyone that the fair chairman just admitted that prices are ever going down unless we hit a serious recession. I hope all you “boys” get it now. The Fed don’t give a frick about you or most Americans, they were created in private to serve the banking sectors. We don’t need more fake currency we need to opt out of all banks and into savings and loans etc. They are stealing us blind
Posted on 2/5/24 at 3:20 am to SingleMalt1973
quote:
4 lbs of Chicken Wings will run you right at $20. Used to be about $12
I agree with your point, but Chicken wings are probably a bad metric due to the nature of that item with unusual demand spikes.
I’ll also add that I’m not sure how accurate your numbers are. I’ve bought the “fresh” uncut wings with the flaps still on for $3.19 /lb recently, and gotten 4 lb bags of frozen wings for $10.99 on sale. When they’re not on sale, they can be $5 /lb. And this has seemed consistent over the last
3/4 years.
The price of ground beef on the other hand has risen 20-25%. You used to occasionally be able to find cuts like round steak, Chuck steak and even sirloin relatively cheap and can’t anymore. Canned tomatoes and vegetables that used to be .44 for GV brand are now .69. This is just the last three years.
Posted on 2/5/24 at 4:50 am to imjustafatkid
quote:
Where are you seeing deflation?
We don't want deflation.
At any rate, inflation is concerning the rate of change in prices over a given time period. It is correct to say inflation has "slowed down", given the price increases have slowed over the same period year to year.
Not that prices are going back down to what they were. Frankly, while the high prices still suck it is better than a deflationary environment.
Posted on 2/5/24 at 6:24 am to TutHillTiger
You cannot be that stupid to think inflation has gone down. Everything is still very expensive.
Posted on 2/5/24 at 6:32 am to DownshiftAndFloorIt
quote:
I haven't noticed anything getting cheaper. The baseline just moved up and it's likely permanent.
This was discussed on CNBC last week. Apparently Costco has told name brand suppliers that they need to start cutting prices or they will be replaced with Kirkland branded products. Walmart is going to start sending the same message as well.
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