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re: CNN: Middle class incomes jump to $61,400...WTF are they doing posting this?!?!
Posted on 9/12/18 at 10:57 am to AbuTheMonkey
Posted on 9/12/18 at 10:57 am to AbuTheMonkey
quote:
Inflation has been virtually no different from 1988 to present than it was before.
So are you saying CPI calculation by BLS doesn't tell the whole story?
Posted on 9/12/18 at 11:05 am to volod
I'm sorry? To what are you referring?
I am saying that his premise that "inflation has killed the dollar" over the last thirty years is outright false.
Inflation according to any measure you want to look at has been relatively even or even a little lower over the last thirty years than prior to that.
CPI
Inflation is natural in a growing economy, and we've done a pretty good job over the last thirty years of having some inflation but without devaluing the dollar too much and keeping volatility low.
I am saying that his premise that "inflation has killed the dollar" over the last thirty years is outright false.
Inflation according to any measure you want to look at has been relatively even or even a little lower over the last thirty years than prior to that.
CPI
Inflation is natural in a growing economy, and we've done a pretty good job over the last thirty years of having some inflation but without devaluing the dollar too much and keeping volatility low.
Posted on 9/12/18 at 11:10 am to The Easter Bunny
quote:
I get cost of living is different living in a small city like Vivian, but no way I'd be a cop for $13/hr
COMPLETELY off topic, but you ever wonder why liberals are constantly screaming about teacher pay, but never say boo about cop pay? Could that entirely due to which political party each group primarily supports?
Posted on 9/12/18 at 11:15 am to AbuTheMonkey
quote:Yeah. According to CPI, the 30’s the annual inflation rate is 2.53%. In the 75 years before that, it averaged 3.36%. At the current rate, the value of a $100 today is equivalent to $47.23 in 1988 whereas it would be than it would be worth $37.07 using the rate before 1988.
Inflation has been virtually no different from 1988 to present than it was before.
If anything, it's been much more modest and much less volatile during the past thirty years than it used to be.
So if real income and real net worth increases, then that’s what really matters. And deflationary environments often result in the oppose spending and investments stagnate.
Posted on 9/12/18 at 11:27 am to volod
quote:Well technically yes which is why there are not only different CPI measures there is a separate inflation measured that is often used altogether (PCE).
So are you saying CPI calculation by BLS doesn't tell the whole story?
Regardless the post you’re responding to is about referencing the fact that inflation is not some new phenomenon in recent decades, and it fact, it’s actually less. In addition, most economists believe low inflation is actually a important and healthy for economic growth.
Posted on 9/12/18 at 11:57 am to Covingtontiger77
Someone is getting fired.
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