Inflation slows to 7.1% as economy cools off

[Synthaholic]

Gas is under $2.99 and I noticed that the price of 10lbs of sugar at Costco went down one dollar. Dark Brandon keeps getting shit done!

 

[The Duke]

Inflation slows to 7.1% for November, another sign the economy is cooling off

Compared to October, the inflation rate fell from 7.7%. It's the second consecutive month it has fallen.

www.nbcnews.com

The Biden administration and the Fed are doing their job. Good times ahead!

Is that nice and good for Americans, assface?

I think not.

 

[protectionist]

I realize Trumpsters are economically illiterate and ideologically sheltered, but the last GDP reading was +2.9%.

With Trump, it was at +2.1% when the virus hit.

And this is WITHOUT the trillions of Fed stimulus Trump received. And he BEGGED FOR MORE.

Fake news, right?

Your post is fake news. In Trump's last 2 quarters, we had first, the HIGHEST (by far) GDP ever recorded in US history (35.2%), followed by respectable GDPs thgat Biden was fortunate to inherit. But by the end of 2021, Buden could ride on Trump's coattails any longer and GDP nosedived from 7.0 down to MINUS 1.6 ( an 8.6 drop). Then we were still underwater in Spring of 2022 with GDP at MINUS 0.6.

As for the increase to 2.9% nothing seems to indicate that to be the case, so with the BEA firmly under shifty Biden's control, I'm not accepting that number.

 

[protectionist]

Gas is under $2.99 and I noticed that the price of 10lbs of sugar at Costco went down one dollar. Dark Brandon keeps getting shit done!

It's $3.26 gallon - was $1.89 when Trump left (72% inflation). If Biden stopped warring against the oil companies, and would open up the drilling that he shut down, price would drop to$1.89 within 2 weeks.

Yeah, Biden's getting it done, all right. GOUGING Americans.

And he continues to allow illegal aliens into the country, filling up rental housing vacancies, adding to the astronomical inflation there, of 100-200% all over the country.

Dude has turned the country into a train wreck.

 

[Stann]

Gas is under $2.99 and I noticed that the price of 10lbs of sugar at Costco went down one dollar. Dark Brandon keeps getting shit done!

I bought gas for $2.58 a gallon, it's still high but it's coming down. Everything in its time, everything in its place; that is the way of the world.

 

[Mac1958]

That's right, just continue to ignore the entire picture, while hoping that what is now burning you all like a hot iron somehow soon fades away.

Nope. I made one specific point. That's when you went drama queen, because you want to/have to dilute any positive data if it doesn't suit you politically.

That's what hyper-partisans do. I'm used to it here. I'm not bound by intellectual dishonesty like that.

 

[Markle]

Inflation slows to 7.1% for November, another sign the economy is cooling off

Compared to October, the inflation rate fell from 7.7%. It's the second consecutive month it has fallen.

www.nbcnews.com

The Biden administration and the Fed are doing their job. Good times ahead!

Cute try!

PERSONAL FINANCE

Published December 6, 2022 8:39am EST

Recession is expected in Q1 2023: Bank of America​

Economists expect a volatile market to persist in 2023​

"A recession is very likely in the U.S.," BoFa wrote in its Year Ahead 2023 report. The bank points out that this recession can last through the third quarter of 2023.

There's no official definition of a recession, but many economists define it as a period of two consecutive quarters of negative economic growth or gross domestic product (GDP) decline – a drop that’s already been seen in 2022.

Many Americans also believe the U.S. is already in a recession. More than half or 56% of Americans believe the country is in a recession, according to a recent poll by YouGovAmerica and The Economist.

Recession is expected in Q1 2023: Bank of America

Bank of America economists expect a recession to emerge in the beginning of 2023. Here’s how to keep your finances on track.

www.foxbusiness.com

 

[Mac1958]

Why didn't we cheer for lower inflation under Trump?

Because it was ALWAYS low.

Yes it was. While the Fed was pouring trillions of stimulus into the economy, which would buckle supply chains when demand went nuts after the shutdowns.

Heck, your hero was BEGGING the Fed for even MORE inflationary quantitative easing and even LOWER inflationary interest rates.

But you don't know about the real cause of this inflation, because it's more comfy to just believe what you're told by your manipulators.

You don't even understand what I just wrote.

 

[Mac1958]

That's right. The causes of the current global inflation are well know. Well, not to Trumpers.

They will only believe what they're told in their world. This issue for them isn't economics, it's politics. Like every other issue.

 

[SweetSue92]

They will only believe what they're told in their world. This issue for them isn't economics, it's politics. Like every other issue.

"In their world"....

Poor Mac, gets up every morning, climbs up on his Superiority Hobby Horse. Ride it Mac!

 

[Mac1958]

My grocery bill and fillup at the gas station say you are full of BS.....

Yes, global inflation is high. I even lay out its causes in Post 188 for you, nice and easy, but you won't understand it.

 

[Mac1958]

Your post is fake news. In Trump's last 2 quarters, we had first, the HIGHEST (by far) GDP ever recorded in US history (35.2%), followed by respectable GDPs thgat Biden was fortunate to inherit. But by the end of 2021, Buden could ride on Trump's coattails any longer and GDP nosedived from 7.0 down to MINUS 1.6 ( an 8.6 drop). Then we were still underwater in Spring of 2022 with GDP at MINUS 0.6.

As for the increase to 2.9% nothing seems to indicate that to be the case, so with the BEA firmly under shifty Biden's control, I'm not accepting that number.

I used the figure that existed before the virus, which was the fair way to show where the economy was. Once COVID hit, the economy went all over the place, and was incredibly uneven.

Let me give you a little lesson on economic numbers, Einstein. When a number drops by 50%, let's say from 100 to 50, it has to recover 100% (that same 50) to get back to where it was. So, when a number drops by 30%, it has to recover 42% to get back to where it was.

If you're giving him credit for the 35% (annualized) GDP, why aren't you blaming him for the MINUS 30%?

Because you're a Trumpster. That's why.

Arrogant ignorance: The MAGA Way.

 

[Natural Citizen]

It's like this. If you borrow the very first dollar in existence and you promise to pay it back plus another dollar's worth of interest, where do you get the second dollar to pay the interest?

The answer is that you have to borrow that dollar into existence and promise to pay it back with interest as well.

So, now there are 2 dollars in existence, but you now owe 4. And so on, and so on, and so on, and so on. It keeps happening over and over and over again.

The result is that there is never enough currency to pay the debt. There is always more debt in the system than there is currency in existence to pay the debt.

Therefore the entire system is impossible. It is finite. It will come to an end one day. It's designed to fail.

Let's ask this question. What would happen if the government stopped borrowing to do deficit spending?

Are the payments on those Treasury bonds going to stop?

Of course not.

What would happen if the public stopped borrowing and going deeper into debt? Are your house and car payments going to stop?

No. They're not.

There is a payment due every month on the principal plus the interest on every dollar in existence and those payments do not stop.

If we stop borrowing, then no new currency is created to replace the currency that we used to make those payments.

Whether you're making a payment on a loan or paying a tax to make a payment on a Treasury bond, the portion of the payment that goes to pay off the principal extinguishes that portion of the debt.

But the debt also extinguishes the currency.

When currency and debt meet, they destroy each other.

If we just pay off the principal only, all of the loans and Treasury bonds that exist, the entire currency supply vanishes. Duh.

So, if we don't go deeper into debt every year, the whole thing goes into a deflationary collapse under the weight of those payments.

People always talk about balancing the budget, bringing down the debt, and living within our means, but they don't understand that this is deflationary. It is impossible to do under our current monetary system without collapsing the entire economy.

The system is designed to require ever-increasing levels of debt just to continue.

And that's why politicians will always kick the can down the road and raise the so-called debt ceiling over and over again until the whole system finally collapses under its own weight rather than on their watches.

 

[Markle]

I know you want to downplay good news. Such is the nature of being a political partisan. Side irrelevant, they both do it.

Not everyone is like that. Thankfully.

Yeah, we're just doing great! But, I do understand your desperation bordering on panic.

Who does this hurt most?

 

[Mac1958]

Yeah, we're just doing great! But, I do understand your desperation bordering on panic.

Who does this hurt most?

Please see post 191, Trumpster.

 

[Markle]

NEWSMAX? HA HA HA....THE mouthpiece of lies and conspiracy theories.

Show your intelligence. Instead of resorting to attacking the source, prove to us that the information the video contains is NOT TRUE. Can you do that for us, please?

 

[miketx]

Actually no one's called it that yet, dummy

Actually the guy you quoted did, dumbass.

 

[Foolardi]

Don't tell the Democrats. They will raise your taxes.

I think that Joe American is way beyond even attempting to
believe such a thing.As far as " Don't tell democrats ".
That's the equivalent of telling a chimp at the zoo to
knock it off already.Stop jumping around and jerking on the
cage already.We get it already.Yer frantic and want attention.
So we'll see that you get a well deserved Mars candy bar
for lunch.What da ya want a Holy Picture as well.

 

[Markle]

No, sorry. It just means inflation is slowing. Your point is a separate point for you to make.

Real wages have been stagnant or worse for 40 years. Glad to have you on board with true leftism.

Should someone earn more if they do not increase their value to a company?

Further, stagnant is appropriate. What is happening under the President Biden administration, as you know, is their wages are plummeting.

 

[Foolardi]

And yet our leaders fiddle while Rome burns

Um ... Not to be confounded by a Democrat Fiddler.
Or The longest serving Democrat senator in history.
Robert Byrd at 51 years,5 months,26 days.
Plus a Grand Kleagle.Known for appearing on the
hugely popular - Hee Haw - Show and playing his Fiddle.
Hillary in the 2000's named Byrd as one of her Mentors.
So there is some precedent associated with Democrats
Fiddling around while The United States burns.
You know ... Like the Summer of Love { 2020 } where not
one Republican Conservative or Trump supporter was
part of the over 500 acts of Looting,Burnings,Taking over
of city blocks with Protests and even Federal Bldgs.Over 2 dozen
died.
That's ALL on the Democrats.Every stinkin act.Stop believing
The Democrats Lie Machine.