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Started By
Message
Apparently inflation is now 0%
Posted on 8/10/22 at 9:19 pm
Posted on 8/10/22 at 9:19 pm
Who knew?
15
Posted on 8/10/22 at 9:24 pm to slackster
In all fairness, the average American is dumb enough to read that and believe it...so smart by them to keep pounding that 0% number
This post was edited on 8/10/22 at 9:25 pm
Posted on 8/10/22 at 9:28 pm to TigerTatorTots
If you’re going to pull this shite, why not frame every month using the MoM numbers?
June inflation was only like .6% in that light.
June inflation was only like .6% in that light.
Posted on 8/10/22 at 10:30 pm to slackster
Of course inflation is slowing. That’s because the economy has been slowing. Energy was down last month because of demand. People don’t have as much money to travel. Electricity prices actually rose 1.6% month over month. Food costs were actually up 1.1% month over month. Food is not discretionary nor is electricity, so he’s bragging about bringing down discretionary while staples continued to rise. He’s feeding his base a bunch of lies and hoping they are not smart enough to figure it out.
This guy is really not good with the economy.
ETA: He’s right it about jobs, though. That continues to be a strong point and what he should be championing.
This guy is really not good with the economy.
ETA: He’s right it about jobs, though. That continues to be a strong point and what he should be championing.
This post was edited on 8/11/22 at 1:34 am
Posted on 8/11/22 at 5:25 am to slackster
And the media will run with his bullshite…
No different than “gas prices have gone down a dollar”. Yeah, but they are still up 1.50 since you took office clown.
FJB
No different than “gas prices have gone down a dollar”. Yeah, but they are still up 1.50 since you took office clown.
FJB
Posted on 8/11/22 at 6:09 am to slackster
The Inflation Reduction Act is ALREADY working! Dark Biden is Best Biden!
Posted on 8/11/22 at 6:28 am to slackster
I think he's confused with his approval rating
Posted on 8/11/22 at 7:55 am to go ta hell ole miss
The jobs he’s bragging about are one person working two jobs because they have to due to his inflation.
Posted on 8/11/22 at 8:37 am to slackster
If inflation is zero then there's no need to sign the Inflation Reduction Act right?
Posted on 8/11/22 at 9:12 am to hob
what a dipshit
Posted on 8/11/22 at 9:14 am to slackster
Biden has dementia, but what's the excuse of the millennial running that Twitter account?
Posted on 8/11/22 at 9:55 am to slackster
"Inflation didn't speed up so now it's 0%!" 
Posted on 8/11/22 at 10:42 am to slackster
Apparently that's their new talking point.
VP's Twitter
After a year and a half they've finally discovered the MoM CPI numbers.
VP's Twitter
quote:
Vice President Kamala Harris
@VP
United States government official
The data shows our economy had 0% inflation in July. We have more work to do, but @POTUS and I are clear: we're building an economy that works for all Americans.
7:06 PM · Aug 10, 2022·The White House
After a year and a half they've finally discovered the MoM CPI numbers.
Posted on 8/11/22 at 10:49 am to slackster
Time to go long commodities and short on bonds
Posted on 8/11/22 at 11:17 am to slackster
The economy works for everyone who wants it to work for them. Sitting at home or relying on Government social safety nets isn't how you build wealth.
Posted on 8/11/22 at 11:25 am to slackster
Posted on 8/11/22 at 12:33 pm to slackster
quote:
Inflation is now 0%
Well below the 2% target. Fed needs to start aggressively cutting rates then, right?
Posted on 8/11/22 at 4:31 pm to slackster
I’m not sure what the issue is with this statement. I follow dozens of economists on Twitter, and they’re equally confused by the reaction.
The CPI report always lists the monthly change, followed by the year over year change. Both are useful; it’s just usually that the monthly change is relatively consistent with the trend (on an annualized basis). In this case, it caused a reversal in the trend, and hopefully it will be the start of a new trend.
Regardless, we just had a monthly jobs report and a quarterly GDP report. And both represented the change from the preceding period (month for jobs; quarter for GDP, although they annualize it). Yet nobody was like, “actually we didn’t add 500k jobs, we added like 6 million jobs” or “actually GDP didn’t contract, it grew by 1.6%” which would have been the case in a YOY basis for both.
The CPI report always lists the monthly change, followed by the year over year change. Both are useful; it’s just usually that the monthly change is relatively consistent with the trend (on an annualized basis). In this case, it caused a reversal in the trend, and hopefully it will be the start of a new trend.
Regardless, we just had a monthly jobs report and a quarterly GDP report. And both represented the change from the preceding period (month for jobs; quarter for GDP, although they annualize it). Yet nobody was like, “actually we didn’t add 500k jobs, we added like 6 million jobs” or “actually GDP didn’t contract, it grew by 1.6%” which would have been the case in a YOY basis for both.
Posted on 8/13/22 at 8:47 am to buckeye_vol
Given the history of this administration, it’s disingenuous at best.
Posted on 8/13/22 at 10:12 am to buckeye_vol
quote:
I’m not sure what the issue is with this statement. I follow dozens of economists on Twitter, and they’re equally confused by the reaction.
It’s disingenuous, plain and simple. You and I may discuss the MoM numbers and dive into core be headline and whatnot, but that’s not the intent of his post. It’s not a discussion of whether or not it’s factual, it’s whether it is framed in the proper context. If MoM was .2% as expected, he wouldn’t have posted it that way. Instead it would have been some comment about inflation slowing or something.
quote:
Regardless, we just had a monthly jobs report and a quarterly GDP report. And both represented the change from the preceding period (month for jobs; quarter for GDP, although they annualize it). Yet nobody was like, “actually we didn’t add 500k jobs, we added like 6 million jobs” or “actually GDP didn’t contract, it grew by 1.6%” which would have been the case in a YOY basis for both.
That’s because no one annualizes those numbers for discussion. The Fed has an annual target for CPI, not a MoM target. People don’t say, “ man, prices are up .7% in the last month”, they say inflation is running at 8.4% over the last year.
I’m hardly ever political on this forum, but Biden’s post deserved the proper ridicule.
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