Biden claims zero percent inflation.

[Winston]

The inflation rate for July 2022 is still 8.5%, it didn't go up or down and it sure as hell is not zero. Maybe NBC News will convince you:


Inflation reached 8.5% in July, compared with a 40-year high of 9.1% in June, providing a measure of relief to consumers as gas prices drop.

Economists surveyed by The Wall Street Journal had projected inflation in July to fall to 8.7%. On a month-to-month basis, the July Consumer Price Index reading was unchanged from June — meaning no price growth was registered. That compares with June's month-on-month increase of 1.3%.

Consumer prices rose by 8.5% year over year in July as the summer of inflation wears on

A key measure of inflation, the Consumer Price Index, remained near 40-year highs for another month, even as the Federal Reserve tries to slow demand.

www.nbcnews.com

Saying inflation is zero is at best misinformation, and I think you know that. What that number means is that the annualized rate of inflation in July over what it was last July is 8.5%. Biden is therefore NOT accurate and neither are you.

Damn but you guys are stupid. What the fawk you mean it didn't go down. Where I went to school, 8.5% is less than 9.1%, and it is even less than 8.7%.

I got a message from my son as soon as the news was released. Mostly because I called this weeks ago. Breaking the report down, food prices are still increasing, shelter as well as rents the higher interest rates have not yet translated into lower home prices. This is all about energy. Gas prices have declined due to three factors. Release from the STOR, declining crude prices, and declining demand as consumers make adjustments.

But I can tell you, food price increases have about played out. Ukraine is now exporting wheat and fertilizer. Depressed crop yields are still having an impact, but supply chain issues are becoming resolved in most categories. So much so that inventory levels on non-durable goods are high enough that discounting is becoming the norm.

And that is just it. These egg heads at the FED don't seem to realize that discount rate increases have a lagging effect. Hopefully, they have enough sense not to increase it again next month, but I ain't holding my breath. We are about to get to the point that shorting Treasuries might be a play. If it were me, I would cut the discount rate by 50 basis points next month because the 75 basis point increase last month was too much.

 

[BluesLegend]

Biden claims zero percent inflation.​

What the mother of all whopper lies fuck??

 

[Winston]

The inflation rate did not shrink to 0% in July. Thetecwascacslight decline to 8.5% in July. Claiming inflation was 0% in July is taking liberties with the truth .

NO. Inflation in the month of July was ZERO. The year over year inflation rate was 8.5%. Not that hard to tell the difference. Sorry you Trumpbots are so intellectually challenged.

 

[BluesLegend]

Joe Biden =

 

[BluesLegend]

NO. Inflation in the month of July was ZERO.

Sure it was, that's quite laughable.

 

[Winston]

He should have spoken the truth. That truth is that inflation fell from 9% to 8.5%. We had a month where the inflation rate did not rise.

That does support the dishonest spin thrown out there by the president.

Yep, he should have spoken the truth. The annual inflation rate declined by 6.6% for the month of July. Now I will wait for your head to explode as you attempt to understand that math, LOL.

 

[tahuyaman]

Yep, he should have spoken the truth. The annual inflation rate declined by 6.6% for the month of July. Now I will wait for your head to explode as you attempt to understand that math, LOL.

The inflation rate is still sitting at 8.5%. That’s not a good thing.

 

[tahuyaman]

NO. Inflation in the month of July was ZERO. The year over year inflation rate was 8.5%. Not that hard to tell the difference. Sorry you Trumpbots are so intellectually challenged.

That’s not what he said. He tried to engage in some creative and dishonest spin. This has nothing to do with Trump.

 

[tahuyaman]

Liberals need to rely on dishonest spin.

 

[BluesLegend]

Remember, Dems LIE. Why are Dems are celebrating July when compared to June...

Core consumer prices INCREASED
Producer prices INCREASED
Export prices INCREASED
Import prices INCREASED
Food inflation INCREASED
Services inflation INCREASED
Rent inflation INCREASED

Because the Biden gas prices dipped from their ridiculously sky high level in July. Meanwhile everything else continued to climb higher in July vs June. I think we all know why Dems failed to mention that.

 

[Marener]

He should have spoken the truth. That truth is that inflation fell from 9% to 8.5%. We had a month where the inflation rate did not rise.

That does support the dishonest spin thrown out there by the president.

He did tell the truth. There was no inflation in the month of July. That’s exactly what he said.

It’s not my problem you can’t understand plain English.

Saying we had 8.5% inflation in the month of July is not accurate. Inflation in the last year is 8.5% but that’s not the same as saying inflation was 8.5% in the month of July.

 

[TNHarley]

What he said was wrong but it was a simple mistake.
Its really not that big of a deal.

 

[tahuyaman]

He did tell the truth. There was no inflation in the month of July. That’s exactly what he said.

It’s not my problem you can’t understand plain English.

Saying we had 8.5% inflation in the month of July is not accurate. Inflation in the last year is 8.5% but that’s not the same as saying inflation was 8.5% in the month of July.

No There was inflation in July. There was just a slight decrease in inflation. The best you can say is that inflation did not rise in July for the first time since he took office.

In July groceries cost more than they did in June. Many durable goods cost more in July than they did in previous months. Rents increased. The cost of clothing rose.

The only thing I can see which has decreased in price is fuel and that's largely because of demand. People are driving and traveling less, so demand has decreased. Decreased demand = lower costs

 

[hadit]

What words didn’t he say that he needed to in order to be correct?

That depends on what he meant to say. It's a safe bet to assume that he WANTS people to think that inflation has disappeared, and his gullible minions (you know who you are) fell for it, hook line and sinker. If he meant that inflation dropped a few tenths of a percent, he should have said something like, "Inflation in July came down and we're going to keep bringing it down". I don't think that's what he meant to say, however, because that's not what he said.

 

[tahuyaman]

What he said was wrong but it was a simple mistake.
Its really not that big of a deal.

It wasn't a mistake. It was an attempt at creating knowingly dishonest spin. His handlers knew exactly what they were doing

 

[tahuyaman]

He did tell the truth. There was no inflation in the month of July. That’s exactly what he said.

It’s not my problem you can’t understand plain English.

Saying we had 8.5% inflation in the month of July is not accurate. Inflation in the last year is 8.5% but that’s not the same as saying inflation was 8.5% in the month of July.

This level of dishonesty is astounding. It's typical of the hard left though

 

[Marener]

No There was inflation in July. There was just a slight decrease in inflation. The best you can say is that inflation did not rise in July for the first time since he took office.

In July groceries cost more than they did in June. Many durable goods cost more in July than they did in previous months. Rents increased. The cost of clothing rose.

The only thing I can see which has decreased in price is fuel and that's largely because of demand. People are driving and traveling less, so demand has decreased. Decreased demand = lower costs

Oh so now you want to discuss different ways of measuring inflation.

If you want to say core CPI increase in July, that’s fine because it’s true. But core CPI has been 5-6% , not the 9% that conservatives used to describe inflation.

It is perfectly true to say there was no inflation in July.

From June to July, CPI was completely unchanged. That means there was no inflation in July. CPI takes into account a weighted average of all items in the index.

You can say that year over year inflation rate went down but that was the case in July specifically because there was no inflation in July.

 

[tahuyaman]

Oh so now you want to discuss different ways of measuring inflation.

If you want to say core CPI increase in July, that’s fine because it’s true. But core CPI has been 5-6% , not the 9% that conservatives used to describe inflation.

It is perfectly true to say there was no inflation in July.

From June to July, CPI was completely unchanged. That means there was no inflation in July. CPI takes into account a weighted average of all items in the index.

You can say that year over year inflation rate went down but that was the case in July specifically because there was no inflation in July.

That was odd . You are comingling several things here. The intelectual dishonesty demonstrated by the average liberal is mystifying.

 

[TroglocratsRdumb]

Biden is right. There was no inflation in July. The 8.5% inflation is year over year.

biden is misleading the public on purpose

 

[Resnic]

No doubt you're right. But here's the thing: politicians, particularly the POTUS, have to clearly articulate what's going on and what it means to us and what he's going to do about it as necessary. But this guy acts like a mental moron that doesn't know his ass from a hole in the ground but knows what he's doing anyway. Which clearly he does not.

I kind of wonder if he is playing the crazy old man bit as a get out of jail free card when the shit hits the fan.