About to crash

[Flopper]

That 9% is still there, it didn't go away, and the 3.2% rate compounds it. Inflation wasn't reduced, it's rate was, and it's a dubious claim anyway, politically motivated math most likely, same with all past inflation claims by govt. agencies since the energy crisis hoax.

I'm also willing to bet that most people people can't tell the difference if they're fed chain weighted CPI numbers or traditional CPI numbers when the assorted propagandists throw out such stats, nor do they know the various weights given to items changes all the time, depending on what the Fed wants to promote or demote; few in Congress in either Party ever want to adjust Social Security to reflect real inflation for instance, since they've continually raided and looted that revenue stream since Eisenhower. Neither Party wants to adjust minimum wage for the same reason, among other things.

In general, overall costs go up but not down nor do the inflated wages. In the past 60 years, the United States has experienced deflation only two times; in 2009 with the Great Recession and in 2015, when the CPI barely broke below 0% at −0.1%. The average real wages have grown by 0.7 percent adjusted for inflation over the half century beginning in February 1973.

The average monthly inflation rate during the Biden years, using the Fed estimated rate for 2023 as 3.2% and 3.0% in 2024 gives average of 4.7%. However, Biden does have some positive economic statistic. For example, Unemployment is down 6.3% to 3.5% The stock market, S&P 500 has climbed 15.7% since Biden's inauguration, etc......

The working man is not the one who is hurt most by inflation but rather those on fixed income.

Deflation - Wikipedia

en.wikipedia.org

Have Wages Stagnated for Decades in the US?

Contrary to conventional wisdom, wages in the United States have not stagnated for decades. Policymakers should focus on policies to boost productivity, which will quicken the pace of wage growth.

www.aei.org

 

[AzogtheDefiler]

In general, overall costs go up but not down nor do the inflated wages. In the past 60 years, the United States has experienced deflation only two times; in 2009 with the Great Recession and in 2015, when the CPI barely broke below 0% at −0.1%. The average real wages have grown by 0.7 percent adjusted for inflation over the half century beginning in February 1973.

The average monthly inflation rate during the Biden years, using the Fed estimated rate for 2023 as 3.2% and 3.0% in 2024 gives average of 4.7%. However, Biden does have some positive economic statistic. For example, Unemployment is down 6.3% to 3.5% The stock market, S&P 500 has climbed 15.7% since Biden's inauguration, etc......

The working man is not the one who is hurt most by inflation but rather those on fixed income.

Deflation - Wikipedia

en.wikipedia.org

Have Wages Stagnated for Decades in the US?

Contrary to conventional wisdom, wages in the United States have not stagnated for decades. Policymakers should focus on policies to boost productivity, which will quicken the pace of wage growth.

www.aei.org

Inflation is 17% since Biden took office. Jobs came back. He didn’t create anything. Stock market up due to 401k investments not Biden. Credit card debt at an all time high. Savings depleted from $2.1trn to $190bn.

Yeah fun times.

 

[MarathonMike]

The working man is not the one who is hurt most by inflation but rather those on fixed income.

I agree with most of what you wrote here, but between working man and fixed income: fixed income folks don't have kids to support and probably don't drive much or consume a lot of food. During our child raising years I was astounded how much those little buggers cost!

 

[LeroyDumonde]

The yield curve is worth looking at.

10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

Note the pattern that arises. The yield curve goes negative and starts to recover. In most case a year after the yield curve reaches its nadir the next recession starts. Looks like we hit a nadir in June of 2023. This suggests a recession will hit us in mid-2024. Just in time for the election.

 

[otto105]

And the lowest employee participation rate ever.
With low gas and food prices, and 1% inflation before Joey Capone took over, you bet we would. What would you be doing Mr. Independent, crying?

The lowest LFPR was reached under the former 1-term president.

Do you miss the pandemic?

 

[AzogtheDefiler]

In general, overall costs go up but not down nor do the inflated wages. In the past 60 years, the United States has experienced deflation only two times; in 2009 with the Great Recession and in 2015, when the CPI barely broke below 0% at −0.1%. The average real wages have grown by 0.7 percent adjusted for inflation over the half century beginning in February 1973.

The average monthly inflation rate during the Biden years, using the Fed estimated rate for 2023 as 3.2% and 3.0% in 2024 gives average of 4.7%. However, Biden does have some positive economic statistic. For example, Unemployment is down 6.3% to 3.5% The stock market, S&P 500 has climbed 15.7% since Biden's inauguration, etc......

The working man is not the one who is hurt most by inflation but rather those on fixed income.

Deflation - Wikipedia

en.wikipedia.org

Have Wages Stagnated for Decades in the US?

Contrary to conventional wisdom, wages in the United States have not stagnated for decades. Policymakers should focus on policies to boost productivity, which will quicken the pace of wage growth.

www.aei.org

Lie. Fixed income hurt the most but middle class workers are hurt too. I am middle class and my $ doesn’t go nearly as far.

 

[bigrebnc1775]

You have been forecasting a recession ever since Biden took office

What is taking you so long?

If Bidenomics was sustainable and the policies were good the economy should never go into a recession

 

[leftwinger]

Today near noontime Costco, Asian store and Walmart were as empty as I’ve ever noticed. No lines. But the parking lots seemed pretty full at 2 of 3? Weird?

 

[multivita-man]

Inflation is 17% since Biden took office.

It has, but there was a lot of unspent cash in the pipeline well before he was inaugurated. I would agree that his team missed the call early on in the spring of 2021 - he owns that, along with the stimulus that he and the Dems passed around that time. But he's made the right moves to fight inflation since. The problem he or any president going forward is going to face is that inflation is unlikely to get back to 2%. Environmental emergency is here and that's going to result in too many $ chasing too few goods.

Jobs came back. He didn’t create anything.

He signed an infrastructure bill and he also signed a law that encourages manufacturing here in the US. Those have had impacts and probably created jobs. We've been near full employment his entire term. The problem is that wages, particularly at the lower end of the pay scale, are not necessarily keeping up with inflation. I think Biden's policies are okay - not perfect but not bad either. But his messaging is terrible. Telling people, particularly the ones who are typically more likely to vote D, that "It's all in your head"...is stupid.

Stock market up due to 401k investments not Biden.

I don't think the stock market is a great indicator of real economic health, but people obviously have their retirements tied up in it. I don't see how any president should really get credit for the stock market.

Credit card debt at an all time high. Savings depleted from $2.1trn to $190bn.

Was inevitable. People have excess money in their accounts and they spend it.

 

[AzogtheDefiler]

It has, but there was a lot of unspent cash in the pipeline well before he was inaugurated. I would agree that his team missed the call early on in the spring of 2021 - he owns that, along with the stimulus that he and the Dems passed around that time. But he's made the right moves to fight inflation since. The problem he or any president going forward is going to face is that inflation is unlikely to get back to 2%. Environmental emergency is here and that's going to result in too many $ chasing too few goods.



He signed an infrastructure bill and he also signed a law that encourages manufacturing here in the US. Those have had impacts and probably created jobs. We've been near full employment his entire term. The problem is that wages, particularly at the lower end of the pay scale, are not necessarily keeping up with inflation. I think Biden's policies are okay - not perfect but not bad either. But his messaging is terrible. Telling people, particularly the ones who are typically more likely to vote D, that "It's all in your head"...is stupid.



I don't think the stock market is a great indicator of real economic health, but people obviously have their retirements tied up in it. I don't see how any president should really get credit for the stock market.



Was inevitable. People have excess money in their accounts and they spend it.

Why not save it? Because of the YOLO lifestyle. His war on fossil fuels is responsible for inflation along with excess Govt spend, which I agree isn’t entirely on him. What has he done to battle inflation?

 

[multivita-man]

Why not save it? Because of the YOLO lifestyle.

Reasons probably vary according to household. I try to save mine, and I hate debt, but I'm single and ain't got kids. And knowck on wood I've been mostly healthy lately. Shit happens in life, though.

His war on fossil fuels

This is nonsense. He hasn't declared war on fossil fuels. Even if we expanded oil production, we have limited reserves. My family has oil business and I've got mineral rights. You can pull it out of the ground, but then you gotta refine it, and then the finished product goes out to the global market. Guess what: two of the largest producers are cutting production until the end of the year. Why? Because they didn't like the cheap price of energy. And they decided to do something about it. Biden's not responsible for that.

is responsible for inflation along with excess Govt spend, which I agree isn’t entirely on him. What has he done to battle inflation?

Well since we're talking about oil, he tapped into the petroleum reserves, which absolutely lowered the price of gas in 2022. He also deployed resources in 2021 to help break up the logjam at US ports. Beyond that, there's not much he or any president can do. There just isn't.

And like I said, I've got no problem saying Biden contributed to inflation in early 2021, and his messaging is shit. I voted for Biden, but I'm honestly not really thrilled about a second Biden term and kinda wish he'd gracefully bow out, and I've got no problem calling it like I see it, particularly his messaging, which is horrible. But being fair, inflation ain't entirely his fault. Most of it is not.

 

[AzogtheDefiler]

Reasons probably vary according to household. I try to save mine, and I hate debt, but I'm single and ain't got kids. And knowck on wood I've been mostly healthy lately. Shit happens in life, though.



This is nonsense. He hasn't declared war on fossil fuels. Even if we expanded oil production, we have limited reserves. My family has oil business and I've got mineral rights. You can pull it out of the ground, but then you gotta refine it, and then the finished product goes out to the global market. Guess what: two of the largest producers are cutting production until the end of the year. Why? Because they didn't like the cheap price of energy. And they decided to do something about it. Biden's not responsible for that.



Well since we're talking about oil, he tapped into the petroleum reserves, which absolutely lowered the price of gas in 2022. He also deployed resources in 2021 to help break up the logjam at US ports. Beyond that, there's not much he or any president can do. There just isn't.

And like I said, I've got no problem saying Biden contributed to inflation in early 2021, and his messaging is shit. I voted for Biden, but I'm honestly not really thrilled about a second Biden term and kinda wish he'd gracefully bow out, and I've got no problem calling it like I see it, particularly his messaging, which is horrible. But being fair, inflation ain't entirely his fault. Most of it is not.

You just lied.

The domino effect of President Biden’s war on oil and gas

From halting pipeline construction to curtailing America’s domestic energy production on public lands; from begging Saudi Arabia and Venezuela for oil while shoveling billions of taxpayer dollars t…

thehill.com

 

[AzogtheDefiler]

Reasons probably vary according to household. I try to save mine, and I hate debt, but I'm single and ain't got kids. And knowck on wood I've been mostly healthy lately. Shit happens in life, though.



This is nonsense. He hasn't declared war on fossil fuels. Even if we expanded oil production, we have limited reserves. My family has oil business and I've got mineral rights. You can pull it out of the ground, but then you gotta refine it, and then the finished product goes out to the global market. Guess what: two of the largest producers are cutting production until the end of the year. Why? Because they didn't like the cheap price of energy. And they decided to do something about it. Biden's not responsible for that.



Well since we're talking about oil, he tapped into the petroleum reserves, which absolutely lowered the price of gas in 2022. He also deployed resources in 2021 to help break up the logjam at US ports. Beyond that, there's not much he or any president can do. There just isn't.

And like I said, I've got no problem saying Biden contributed to inflation in early 2021, and his messaging is shit. I voted for Biden, but I'm honestly not really thrilled about a second Biden term and kinda wish he'd gracefully bow out, and I've got no problem calling it like I see it, particularly his messaging, which is horrible. But being fair, inflation ain't entirely his fault. Most of it is not.

You voted for Biden. Color me shocked. LOL

17% inflation

 

[multivita-man]

You just lied.

The domino effect of President Biden’s war on oil and gas

From halting pipeline construction to curtailing America’s domestic energy production on public lands; from begging Saudi Arabia and Venezuela for oil while shoveling billions of taxpayer dollars t…

thehill.com

Funny how you blame Biden for a meaningless campaign speech when, in fact, he expanded oil leases in the Gulf of Mexico and elsewhere and drew from the SPR, which inevitably has to be refilled with more petrol production.

Funny how you blame him and say nothing about Tesla and the auto industry's massive switch to EVs. Who's responsible for "the war on oil"? If you believe in capitalism, then you look at the consumer, not the president.

 

[multivita-man]

You voted for Biden. Color me shocked. LOL

17% inflation

Yeah, you're a dishonest dipshit. Color me shocked.

S&P at record highs and full employment. Fag.

 

[AzogtheDefiler]

Funny how you blame Biden for a meaningless campaign speech when, in fact, he expanded oil leases in the Gulf of Mexico and elsewhere and drew from the SPR, which inevitably has to be refilled with more petrol production.

Funny how you blame him and say nothing about Tesla and the auto industry's massive switch to EVs. Who's responsible for "the war on oil"? If you believe in capitalism, then you look at the consumer, not the president.

No he didn’t. He says he wants to end fossil fuels. He has ended fracking. For all intents and purposes he is responsible for this inflation. You’re uninformed and that speech means something. Oil is traded on futures. Less oil higher prices.

 

[AzogtheDefiler]

Yeah, you're a dishonest dipshit. Color me shocked.

S&P at record highs and full employment. Fag.

Why the insults? 17% inflation is factual. People have to work in order to make ends meet.

 

[multivita-man]

Why the insults? 17% inflation is factual. People have to work in order to make ends meet.

(had a response but this website's code is crap)

So this will have to do for now:

 

[AzogtheDefiler]

(had a response but this website's code is crap)

So this will have to do for now:

I accept your surrender. If you don’t like it here, then leave.

 

[d0gbreath]

My portfolio is still worth less now than when the Donald was president.

Bless your heart.