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Posted on 8/14/24 at 8:01 am to BugAC
quote:
Not a single normal person, who buys groceries, gas, pays utility bills, buys clothes, etc... believes that inflation has "cooled" nor that it is anywhere close to 2.9%. Real world inflation, is 40-50%.
So things on average cost 40-50% more for you than this time last year? You sure about that?
Posted on 8/14/24 at 8:02 am to udtiger
Glad those corporations have decided to become less greedy
Posted on 8/14/24 at 8:07 am to BugAC
quote:nah, inflation has indeed cooled.
Not a single normal person, who buys groceries, gas, pays utility bills, buys clothes, etc... believes that inflation has "cooled" nor that it is anywhere close to 2.9%.
But what that 2.9% means is that the rate of increase of the current prices has slowed. I.e. prices are still going up, but just at a slower rate than last time period. And don't forget, it is compound.
So a 15% increase this year on a 30% increase last year [example] is an overall increase of 49.5% over two years, not 45%.
Posted on 8/14/24 at 8:10 am to BugAC
It's not 2.9% since they came into office, it is simply 2.9% over last July. It is simply continuing to rise. That's the watered down one too, that doesn't really align with groceries, gas, etc.
To put it simple, if something cost $1.0 when the Biden/Harris administration took over, it was likely up to around $1.35 as of last July, so now it is slowing down the rise, and is only $1.39 now.....LOL. You have idiots that believe that inflation has been tamed, completely disregarding the already massive increases in consumer prices. Prices won't come down. Let's be real too, we know that it isn't 2.9%. They control everything.
To put it simple, if something cost $1.0 when the Biden/Harris administration took over, it was likely up to around $1.35 as of last July, so now it is slowing down the rise, and is only $1.39 now.....LOL. You have idiots that believe that inflation has been tamed, completely disregarding the already massive increases in consumer prices. Prices won't come down. Let's be real too, we know that it isn't 2.9%. They control everything.
Posted on 8/14/24 at 8:13 am to udtiger
quote:Month over month?
Inflation "cools" to 2.9%
Posted on 8/14/24 at 8:14 am to elposter
quote:
So things on average cost 40-50% more for you than this time last year? You sure about that?
Last year? Way to move that goal post short bus. Try since Trump was in office.
Why would i compare the Harris/Biden economy from last year to the Harris/Biden economy this year?
I take it, you don't have kids, nor a spouse. I keep a spreadsheet and have been doing so for over 10 years tracking our finances since my wife and I got married. In 2019, my budget for groceries was $200/week. My budget now is closer to $300/week now. Gas was budgeted at around $45 every 2 weeks depending on how often i had to fill up. It cost me $74 last week to fill up. My DEMCO bill was around $130/month. Now it's just over $200. Water/sewer was around 50 or 60, not its around 80.
You can't make people pretend everything isn't exponentially more expensive under these democrats. Nothing is less expensive. NOTHING. And, you cocksuckers want to tax me more?
Where do you think the money comes from to "forgive student loans"? MY TAXES.
Posted on 8/14/24 at 8:15 am to udtiger
Love how they try to spin this as good news
Posted on 8/14/24 at 8:35 am to BugAC
quote:
Last year? Way to move that goal post short bus. Try since Trump was in office.
Why would i compare the Harris/Biden economy from last year to the Harris/Biden economy this year?
I take it, you don't have kids, nor a spouse. I keep a spreadsheet and have been doing so for over 10 years tracking our finances since my wife and I got married. In 2019, my budget for groceries was $200/week. My budget now is closer to $300/week now. Gas was budgeted at around $45 every 2 weeks depending on how often i had to fill up. It cost me $74 last week to fill up. My DEMCO bill was around $130/month. Now it's just over $200. Water/sewer was around 50 or 60, not its around 80.
You can't make people pretend everything isn't exponentially more expensive under these democrats. Nothing is less expensive. NOTHING. And, you cocksuckers want to tax me more?
Where do you think the money comes from to "forgive student loans"? MY TAXES.
Damn man, calm down. I'm on your side here. Happily voted for Trump twice and will absolutely do it one more time. I hate what the Biden/Harris administration has done as much as you do. The inflation has been historic and devastating.
But when the topic is that year over year inflation was reported as 2.9% and you say "bullshite it is 40-50%" you are conflating number/timeframes and come off as ill-informed or disingenuous, which doesn't help. Some might even say you are "moving the goal posts" when you inflate the year over year CPI increase with an increase over several years.
Now is overall inflation during the Biden/Harris administration 40-50%? It's probably pretty damn close if you look at real prices and now 3% (which is likely still understated by a bit because - politics) on top of THAT and the compounding effect continues to be absolutely crushing.
This post was edited on 8/14/24 at 8:41 am
Posted on 8/14/24 at 8:38 am to SDVTiger
quote:
It will lower mortgage rates
Great a rate cut, which will be completely off set when inflation flares up in response to the looser money supply. The rate ends up being raised again and we are left with the higher rate and higher price.
Posted on 8/14/24 at 8:39 am to BlackAdam
quote:
Great a rate cut, which will be completely off set when inflation flares
You ppl cant be serious about this
Posted on 8/14/24 at 8:47 am to SDVTiger
No cutting rates is a terrible idea. Way too early imo and in fact they should really be a bit higher than what they are at the moment.
Posted on 8/14/24 at 8:54 am to udtiger
Inflation barely made it into the 2.9 range. Still, it's a bit of a milestone for it to finally go below 3% (although it's not much different from thinking you are going to lose your whole arm to gangrene but then finding out you are only losing below the elbow).
Unless August numbers go back up to 3% we are on track for a .25 cut in September. Even if it sneaks back up to 3%, other data could give JPow the rhetorical ground to still push a cut.
We won't see a September cut larger than .25 unless the economy is crashing (ex: inflation drops by something like .5 or more, which could indicate consumer spending is drying up faster than anticipated).
Unless August numbers go back up to 3% we are on track for a .25 cut in September. Even if it sneaks back up to 3%, other data could give JPow the rhetorical ground to still push a cut.
We won't see a September cut larger than .25 unless the economy is crashing (ex: inflation drops by something like .5 or more, which could indicate consumer spending is drying up faster than anticipated).
Posted on 8/14/24 at 8:58 am to bayoudude
quote:
No cutting rates is a terrible idea
Why?
Posted on 8/14/24 at 9:00 am to SabineRat
quote:
2.9% on top of the 50% of the last 3 1/2 years!
Sure, it will be featured, but the reality they can say all they want its low, but prices are not coming down at the grocery store. There is too much currency in circulation and we are too depended on foreign energy.
Posted on 8/14/24 at 9:02 am to SDVTiger
quote:
Why?
All that easy money from years of basically zero is what got us here in the first place. Rates should never drop below the 4-5% range
Posted on 8/14/24 at 9:05 am to udtiger
Just forget it’s up 30% - 100% across the consumer spectrum the last 3 years
Posted on 8/14/24 at 9:10 am to SDVTiger
quote:
Why?
Basic economic principles. Inflation is always and everywhere a monetary phenomenon. Years of rates at or near 0 coupled with 80 years of money supply being printed between March of 2020 and February of 2021 resulted in the inflation we have seen for the last 4 years. A looser money supply via lower rates will mean more dollars and more inflation.
Posted on 8/14/24 at 9:16 am to bayoudude
quote:
All that easy money from years of basically zero is what got us here in the first place. Rates should never drop below the 4-5% range
So you are fine with a 1.25 cut
Thanks for agreeing we need cuts
Posted on 8/14/24 at 9:19 am to SDVTiger
No the Fed funds rate sits at 5.33 as of now which is fine. The cost to borrowers is always higher than the Fed funds rate. Banks gotta eat too.
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