Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It has nothing to with BLS either. Their job is to produce detailed consumer price indexes for national, regional, and a few more localized areas. There is no purpose to produce numbers at the individual level.
That point shimmering off in the distance is a mirage. The minute they start raising rates all asset prices will go down and wealth will go down and spending and income will go down...
All that is exactly what's intended in raising rates to cool an over-heated economy.
Quote:
Originally Posted by Troyfan
...and the reason for raising rates will be gone and higher rates will still be shimmering in the distance.
Lower rates would also be shimmering in the distance. Policy influences but also depends on developments. The idea the the Fed never again can or will raise rates is simply silly.
The Fed is forecasting 2% GDP growth and 2% inflation (or less) for the next 3 years. Why would they even consider raising rates in that environment. There's no justification, nor need, to raise rates.
Except 0% for 9 years now is a false economy!
If they bumped it to 2% would the world end? No, but it would make people think about the big picture.
Of course you're paying more for most things than 5 or 10 years ago, even with mild 2% inflation you'd notice a difference in that much time.
In the end your argument against official inflation numbers boils down to anecdotal experience that given enough time things seem more expensive, this is not a valid rebuttal of their figures anymore than the vague references to nefarious intent by organizations trying to measure inflation.
Absolutely. You're impacted primarily by your personal inflation number.
That has nothing to do with me.
Exactly, I am impacted by my own expenses. So all these statistics and talk about no to low inflation is a ton of BS to me. It is an excuse so the Fed can keep printing money and everything is great in the world, because too many deflation is a very bad thing, but inflation isn't that bad. Sorry, I don't believe stats from the government. Their are other places that claim inflation is higher, so we can argue all day which one people want to believe.
So forgive me for not believing the BLS inflation numbers, I've always been good with my budget and when I see prices almost everywhere going up, I just can't believe when they say everything is fine and dandy. And good luck buying a new car which is now about $33,000, but it will seem you pay the same monthly when you take the loan over 7 years instead of 3 or 4 like everyone used to.
Exactly, I am impacted by my own expenses. So all these statistics and talk about no to low inflation is a ton of BS to me. It is an excuse so the Fed can keep printing money
You were doing fine noting you have your own personal rate of inflation, then you want off the rails. The Fed isn't using your personal situation as an excuse to do anything, it is using wider inflation data.
Quote:
and everything is great in the world
Quote:
when they say everything is fine and dandy
I missed this press release, when did the Fed say everything is good in the world?
Exactly, I am impacted by my own expenses. So all these statistics and talk about no to low inflation is a ton of BS to me. It is an excuse so the Fed can keep printing money and everything is great in the world, because too many deflation is a very bad thing, but inflation isn't that bad. Sorry, I don't believe stats from the government. Their are other places that claim inflation is higher, so we can argue all day which one people want to believe.
So forgive me for not believing the BLS inflation numbers, I've always been good with my budget and when I see prices almost everywhere going up, I just can't believe when they say everything is fine and dandy. And good luck buying a new car which is now about $33,000, but it will seem you pay the same monthly when you take the loan over 7 years instead of 3 or 4 like everyone used to.
Do you also believe that cars are less safe if you personally get in an accident; or that the economy is doing great, unless you get fired, then we're in a recession?
Also, if you're buying a car for $33k it's loaded with technology and features that didn't exist ten years ago.
The reason for raising interest rates is to fight inflation.
Since according to the CPI, there is very little inflation in our economy right now, why should interest rates be raised?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
