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Started By
Message
2
Posted on 7/15/23 at 5:39 pm to Palm Beach Tiger
Look, I'll bash Biden with the best of them, but this was happening regardless of administration. Covid-induced inflation has been a worldwide issue. It turns out that if you reduce output and print the shite out of money, you end up with inflation. Who knew?
Posted on 7/15/23 at 5:48 pm to Palm Beach Tiger
quote:this is literally fake news
Everything costing 50% to 100% more than it did 3 years ago
Posted on 7/15/23 at 6:28 pm to SuperSaint
quote:
this is literally fake news
Have you not been out in the world buying anything? Lol. Unreal
Posted on 7/15/23 at 7:30 pm to BottomlandBrew
But Biden specifically said in a debate that he was going to move us away from oil/gas which caused prices to spike more.
Posted on 7/15/23 at 7:42 pm to BottomlandBrew
This is partly true. But the demented one caused energy prices to spike right out of the gate with his policies. Then he added fuel to the fire with hi so-called infrastructure plan. He doesn’t get a pass on this. I don’t know how many of you realize it, but our dollars are worth about 75% of what they were worth at the start of 2021. That’s a big deal.
Posted on 7/15/23 at 8:57 pm to Palm Beach Tiger
Take this to the PTB.
Posted on 7/16/23 at 5:47 am to slackster
Just anecdotal but I seen prices of lots of grocery staples come down
Eggs way down
Beef down
Chicken down
Dairy items down
Eggs way down
Beef down
Chicken down
Dairy items down
Posted on 7/17/23 at 8:09 am to SlidellCajun
They might be down over the recent highs but many grocery items are still double what they were 2-3 years ago and my paycheck sure as hell isn’t.
Posted on 7/17/23 at 8:22 am to SuperSaint
quote:
im almost certain 80% of the people that use this word doesn't know the definition
95% on the OT and 99% on the poli board
All I know is my grocery bill with 2 kids almost makes me stroke out every week.
Posted on 7/17/23 at 8:52 am to bayoudude
quote:
They might be down over the recent highs but many grocery items are still double what they were 2-3 years ago and my paycheck sure as hell isn’t.
Yeah but the rate of inflation is measured on a monthly and annual basis.
Everyone realizes nearly everything costs more today than it did 4 and 40 years ago. That’s largely irrelevant to the recent (monthly and annual) trend that drives monetary policy.
Posted on 7/17/23 at 11:35 am to bayoudude
quote:
They might be down over the recent highs but many grocery items are still double what they were 2-3 years ago and my paycheck sure as hell isn’t.
Food inflation has come down, but you have to consider that:
A: It's still high (5.7% for last month)
B: There's a compounding effect once you go back beyond just 12 months. For example, the June 2023 12-month is 5.7%, which is 5.7% over the 9.1% from last year, which was an increase of 9.1% over the previous year, meaning we currently see an average increase of ~16.3% from 2021 prices.
I think the problem with the food category is that there's no weighting (at least that I know of) based on most-purchased items (like bread or soft drinks), meaning that items with lower price increases are likely skewing the overall change lower than what consumers are actually experiencing.
Let's take bread (by pound) for example.
In June 2021 the national average price was $1.510/pound
In June 2022 the national average price was $1.691/pound
In June 2023 the national average price was $1.937/pound
This means we saw a ~10.3% increase from June 2021 to June 2022 then a ~12.% increase from June 2022 to June 2023. So for something like bread, we still see over a 20% increase in price even though the rate of inflation on it is dropping. That's well above the average CPI for food and it's a product most people buy. It's a similar story with soft drinks.
Posted on 7/17/23 at 12:04 pm to slackster
I dont trust cpi, it's been like 5% for 4 years but shite is up over 20% since 4 years ago! They think we are stupid!
Same guy is confused and suspicious of his brokerage when his stock goes down 5% and then up 5% and he's not where he started. (And he only owns leveraged etfs
)
Same guy is confused and suspicious of his brokerage when his stock goes down 5% and then up 5% and he's not where he started. (And he only owns leveraged etfs
)This post was edited on 7/17/23 at 12:07 pm
Posted on 7/18/23 at 12:58 pm to bayoudude
Your paycheck wouldn’t have to be double to afford food items that have doubled…
Posted on 7/18/23 at 4:28 pm to SloaneRanger
quote:
I don’t know how many of you realize it, but our dollars are worth about 75% of what they were worth at the start of 2021. That’s a big deal.
People say this without acknowledging that the number of dollars they receive has also gone up.
LINK
Real wages for the American worker (i.e. controlling for inflation) are higher than they've ever been if you remove the 2020 COVID period.
Your real wages are the same as they were in Q4 2020 terms which means you can buy the same basket of goods that you could back then for a similar percentage of your income.
Posted on 7/18/23 at 5:23 pm to SlidellCajun
The one and only food item that I recall that never went up and seems like it has held steady for several years now is bananas.
One of life’s simple mysteries on how they’ve not had to raise prices on them
One of life’s simple mysteries on how they’ve not had to raise prices on them
Posted on 7/18/23 at 6:45 pm to notiger1997
why would anybody believe any data coming out of washington?
Posted on 7/19/23 at 8:06 am to SloaneRanger
quote:
I don’t know how many of you realize it, but our dollars are worth about 75% of what they were worth at the start of 2021.
A) you’re just making shite up. CPI is up 15% cumulatively since then.
B) your wealth should be up even more than that. Home prices are wayyyy up. Stock prices are wayyyy up.
Posted on 7/19/23 at 9:49 am to slackster
quote:
Home prices are wayyyy up.
Inflation is down folks, but, good news, home prices are wayyyyyy up.
You have to have a phD in econ to square that circle I guess.
Posted on 7/19/23 at 10:06 am to slackster
quote:
A) you’re just making shite up. CPI is up 15% cumulatively since then.
Watch out. Some posters are about to accuse you of shilling for biden and denying that inflation exists at all if you pushback against the number sloane pulled from his arse
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