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Started By
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A normal person explanation of “inflation is down”
Posted on 8/15/24 at 12:12 pm
Posted on 8/15/24 at 12:12 pm
For people with small brains like me, this makes more sense.
Loading Twitter/X Embed...
If tweet fails to load, click here. 
9
Posted on 8/15/24 at 12:14 pm to Tuscaloosa
How can people be so dumb? It’s amazing how stupid the general population is.
Posted on 8/15/24 at 12:15 pm to Tuscaloosa
Eh... it's no different than "budget cuts" with congress... they don't actually generally cut anything... they reduce the rate of increase and then get slammed for "cutting the budget".
Posted on 8/15/24 at 12:15 pm to BigPerm30
quote:
How can people be so dumb? It’s amazing how stupid the general population is.
A nation of Lotus Eaters.
Posted on 8/15/24 at 12:16 pm to BigPerm30
quote:by design. Common core destroyed critical reasoning in recent generations
How can people be so dumb? It’s amazing how stupid the general population is.
Posted on 8/15/24 at 12:17 pm to Tuscaloosa
As one of the comments on that tweet points out, that guy's math is wrong. He didn't factor in the compounding effect when calculating the yearly weights.
It's actually 245.
It's actually 245.
Posted on 8/15/24 at 12:18 pm to mikesliveisacheater
quote:
As one of the comments on that tweet points out, that guy's math is wrong. He didn't factor in the compounding effect when calculating the yearly weights.
Whoops.
Posted on 8/15/24 at 12:20 pm to Tuscaloosa
Chief econ correspondent for the Wall St. Journal responded with this which is good:
Posted on 8/15/24 at 12:22 pm to mikesliveisacheater
quote:5+11+9+6+3= 34
As one of the comments on that tweet points out, that guy's math is wrong. He didn't factor in the compounding effect when calculating the yearly weights.
It's actually 245.
200+34= 234
Posted on 8/15/24 at 12:23 pm to Tuscaloosa
Inflation was 9% two years ago at this time and is 3.5% now. That doesn’t mean prices come down, that would be deflation and you don’t want that. Just means rate of them going up isn’t nearly what it was. You won’t see a price decrease except maybe on commodities. Historically inflation has averaged 2.9% but that is just an abg as you have periods of high inflation or times like the 2010’s of very low (1.5-2%) inflation. I work for one of the country’s largest pension managers so we track this all the time and inflation is getting closer to a healthy rate but you aren’t going to be able to buy things cheaper or feel any better economically without a wage increase. Typically wage increases rise after a period of high inflation and we have seen that to, just not enough.
This post was edited on 8/15/24 at 12:25 pm
Posted on 8/15/24 at 12:25 pm to TigerDoc
quote:
Chief econ correspondent for the Wall St. Journal responded with this which is good:
And yet half the U.S. is still confused.
Posted on 8/15/24 at 12:26 pm to mikesliveisacheater
quote:
As one of the comments on that tweet points out, that guy's math is wrong. He didn't factor in the compounding effect when calculating the yearly weights. It's actually 245.
His math is right. He isn’t using percentages like we do with inflation so he wouldn’t compound. If anything his analogy isn’t as good as it could be (if he used percent weight gains), but his math is correct.
This post was edited on 8/15/24 at 12:27 pm
Posted on 8/15/24 at 12:33 pm to elposter
quote:quote:
As one of the comments on that tweet points out, that guy's math is wrong. He didn't factor in the compounding effect when calculating the yearly weights. It's actually 245.
His math is right. He isn’t using percentages like we do with inflation so he wouldn’t compound. If anything his analogy isn’t as good as it could be (if he used percent weight gains), but his math is correct.
Inflation rate is either communicated in monthly or annual CPI. Math not only entails correct arithmetic, it also includes correct application. This application is incorrect. It makes no sense to compound a rate. Rate is the parameter that drives the accumulated value based on a starting principle.
This post was edited on 8/15/24 at 12:42 pm
Posted on 8/15/24 at 12:36 pm to Tuscaloosa
Corporate greed is the reason for inflation. Harris plans to take a stand against high prices in the grocery stores.
Posted on 8/15/24 at 12:40 pm to BuckI
quote:
Corporate greed is the reason for inflation. Harris plans to take a stand against high prices in the grocery stores.
Oh shite! You're serious. Bless your little heart.
This post was edited on 8/15/24 at 12:42 pm
Posted on 8/15/24 at 12:41 pm to bhtigerfan
quote:
5+11+9+6+3= 34
200+34= 234
Yes, but the numbers you added together aren't correct because they don't compound the previous years inflation and instead took the percentages out from the initial 200.
Below is the tweet I referenced.
"It'd be more like:
I used to weigh 200.
In 2020 I gained 2.8 lbs (1.4% gain)
In 2021 I gained 14.2 lbs (7% gain)
In 2022 I gained 14.1 lbs (6.5% gain)
In 2023 I gained 7.9 lbs (3.4% gain)
This year I only gained 5.9 lbs (2.9% gain)
So my weight gain is down. But now I weigh 245?"
Posted on 8/15/24 at 12:42 pm to BuckI
quote:
Corporate greed is the reason for inflation.
This is a joke, right?
Posted on 8/15/24 at 12:43 pm to BuckI
quote:Are you fricking 12 years old? Because you speak like a 12 year old.
Corporate greed is the reason for inflation. Harris plans to take a stand against high prices in the grocery stores.
Posted on 8/15/24 at 12:45 pm to mikesliveisacheater
quote:
So my weight gain is down. But now I weigh 245?"
So the original poster was using a hypnotical to illustrate a point and the 245 guy was giving a real number based on real annualize CPI.
Posted on 8/15/24 at 12:46 pm to Tuscaloosa
The media is also complicit. Instead of reporting “the rate of inflation is down”, they instead report “inflation is down”. This makes many think that prices are actually dropping, when in fact they are just increasing at a slower pace than before.
I have no doubt this is intentional. If a republican were the incumbent, I have no doubt they would be very clear that prices were still increasing.
I have no doubt this is intentional. If a republican were the incumbent, I have no doubt they would be very clear that prices were still increasing.
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