Inflation

[Aerovette]

Liberal solution to rising prices: Pay everyone more.

[Rodnok1]

Originally Posted by aerovette

Liberal solution to rising prices: Pay everyone more.

Not everyone.. Just a certain social economic group.

[Rodnok1]

New inflation numbers have came out, consumer prices rose 7.5% in a year.
Food up 7% and fuel 27%.
Food up . 9% in January with only non alcoholic drinks remaining stable.
Energy prices(electricity) up . 9% in January.

https://www.wral.com/annual-american...high/20129487/

Foreclosures up 50 to 75% over a year ago but number is skewed due to Moratorium.
Student loan repayments which restart soon is expected to go badly...

[Rodnok1]

Gas up another 10 cents plus again today. 3.36 was cheapest around.

[Aerovette]

Originally Posted by Rodnok1

Gas up another 10 cents plus again today. 3.36 was cheapest around.

Fox guests are predicting $4.00 by April.
$2.95 - $3.05 for regular around me.

[snide]

Originally Posted by Rodnok1

Gas up another 10 cents plus again today. 3.36 was cheapest around.

Originally Posted by aerovette

Fox guests are predicting $4.00 by April.
$2.95 - $3.05 for regular around me.

When we were out today, I saw a few stations were showing $3.699. The wife saw a station that was showing $3.999.

**** Joe Biden.

[bsmith]

Originally Posted by Rodnok1

Student loan repayments which restart soon is expected to go badly...

I bet they "delay" it again.
A lot less push back than "cancelling" the debt...

[Rodnok1]

New inflation numbers came out today... 6.1% for one year, leaving out food and fuel it's 5.2%.
These are all pre Russia invasion so the next few months rates will be as high if not higher.
Highest inflation rate since 1982, I remember auto plants being shut down and schools being consolidated back then. We went half days after being bussed to another school and no lunch. Sucked as we got to school before 8 and furnaces were turned way down over weekends and overnight so froze your ass off especially Mondays. Nothing like thick gloves and a scarf inside a building.
If my parents hadn't paid off their house a year or two before they woukd have lost it...

[MadInNc]

….

[Rodnok1]

Estimated food will go up @3% again in 2022 and that was before Russian bullshit so it'll be higher than that.
A prof at Duke warned all this inflation and high gas prices "could" lead to a recession.... Fukin genius day late dollar short as the mold has already been cast.
This one's gonna smart...

[Rodnok1]

Prices kept rising last month in America, pushing a key inflation measure to a level not seen since January 1982.

The Consumer Price Index, which measures a basket of goods and services, stood at 7.9% over the 12-month period that ended in February, without seasonal adjustments, the Bureau of Labor Statistics reported Thursday.

[Aerovette]

Even the "highest since 1990" part is deceiving and doesn't tell the entire story.

Hypothetically if inflation was 10% in 1990, but only 8% every year until now, it is still a huge cumulative effect. This last year just has a much steeper slope.

[69L46]

In reality, far worse than what the Fed chooses to focus on.

I can't help but wonder when the breaking point will be reached.


How High Is Inflation? It Depends Which One
--------------------------------------------------------------------------

The inflation numbers that people pay the most attention to and the inflation numbers that the Federal Reserve cares about aren’t the same. In the months ahead, those differences could really matter.

Economists polled by The Wall Street Journal expect Thursday’s consumer inflation report from the Labor Department will show that overall prices in February rose by 7.8% from a year earlier, their biggest gain since January 1982. Core prices, which exclude food and energy items in an attempt to better capture inflation’s trend, are expected to show a 6.4% rise, which would be the biggest gain since August 1982.

The February reading for the Commerce Department inflation gauge that the Fed watches, and bases its 2% inflation target on, won’t come out until March 31. But it will almost certainly show milder price increases than the Labor Department measure. The January core reading for the Commerce Department measure showed a 5.2% gain from a year earlier, for example, versus the 6% gain the Labor Department showed.

The differences between the two inflation measures largely come down to differences in how they are constructed. The weightings for items in the consumption baskets the Labor Department uses to put together its main inflation indexes are based on surveys of urban consumers and only measure out-of-pocket expenses. The Commerce Department’s indexes are based on the actual expenditures of both urban and rural consumers and includes spending done on the part of consumers, such as employers’ contributions to health insurance.

One place where the consumption baskets used by the Labor and Commerce Departments are really different is housing. Both rely on something called owners’ equivalent rent, a somewhat contentious measure that bases homeowners’ housing costs on what people would need to pay in rent for the homes they own. But actual rents and owners’ equivalent rent account for about two-fifths of the Labor Department’s core consumption basket, while for the Commerce Department they account for less than one fifth.

This matters because rents have been surging. A price index of rents from Zillow was up by 15.9% from a year earlier in January, for example. But the jump in rents seen over the past year has yet to be fully reflected in the Labor Department and Commerce Department rent and owners’-equivalent rent measures because these are based on prices paid on both new and existing leases.

Put otherwise, even if the Zillow measure suddenly stopped going up, rent prices in the inflation index would probably keep rising as people’s old leases expired and they signed new, more expensive ones. Again, those rent price increases matter much more for the Labor Department’s measures of inflation than the Commerce Department’s.

The upshot is that at the very least the gaps between the two inflation gauges could remain quite wide. This could especially matter later this year if inflation in goods prices, driven by pandemic disruptions and now Russia’s invasion of Ukraine, begins to subside. One can imagine a world in which the Fed thinks inflation has really started to come back down while others vehemently disagree.

[Rodnok1]

Oh it's definitely worse than what they report plus they tried to label it a "perceived" inflation for a year pljs.
Throw in shrinkflation to food and other products and the numbers are way higher.
Everything is up 15% minimum for 18 Months ago or so, manufacturers took advantage of kung flu to radically increase prices zo they could blame on scamdemic also.

The breaking point is within reach now I believe with gas being the straw that broke the camels back.
It will increase prices across the board and reality will slap people in the face.
Foreclosures and repos will lead the downturn. Businesses will shutter.

[69L46]

Originally Posted by Rodnok1

Oh it's definitely worse than what they report plus they tried to label it a "perceived" inflation for a year pljs.
Throw in shrinkflation to food and other products and the numbers are way higher.
Everything is up 15% minimum for 18 Months ago or so, manufacturers took advantage of kung flu to radically increase prices zo they could blame on scamdemic also.

The breaking point is within reach now I believe with gas being the straw that broke the camels back.
It will increase prices across the board and reality will slap people in the face.
Foreclosures and repos will lead the downturn. Businesses will shutter.

Forecast for 2022 Q1 GDP: A whopping 0.5%:

https://fred.stlouisfed.org/series/GDPNOW/


It was revised upward this week from 0.0%, so I guess that will be the spin.

[Bill]

Originally Posted by 69L46

Forecast for 2022 Q1 GDP: A whopping 0.5%:

https://fred.stlouisfed.org/series/GDPNOW/


It was revised upward this week from 0.0%, so I guess that will be the spin.

The thing is, that will represent a massive constriction in our ACTUAL output.

The dollar amount might be bigger, but the amount of stuff will be less, thanks to the Bidenflation.

[Learpilot]

Premium down here in Naples is 4.91

[VITE1]

Inflation is too much money chasing too few goods.

And the current dolt in office wants to create more money while doing all he can to prevent more goods, like oil, from being produced.

[Rodnok1]

USDA annouced expected increases in food this year. 4% exoected.
Dairy 5%, poultry 7%, cereals and baked goods 4%

Poultry going up and dairy from bird flu and the flocks are being culled already.

So food will be 25% higher than just a couple of years ago.

[MikeB]

Originally Posted by Rodnok1

USDA annouced expected increases in food this year. 4% exoected.
Dairy 5%, poultry 7%, cereals and baked goods 4%

Poultry going up and dairy from bird flu and the flocks are being culled already.

So food will be 25% higher than just a couple of years ago.

2.7mm chix were destroyed the past 2-3 days here, avian flu.
Egg and chicken prices up already.


https://www.wisn.com/article/video-w...ckens/39576488