Bureau of Labor Statistics: Cost of living is soaring (CPI-U) (health care, gasoline)

[Goodnight]

Originally Posted by Roboteer

https://www.bls.gov/news.release/pdf/cpi.pdf

That's what happens when you print a zillion tons of money out of nothing, and hand it out for free. Pandemic or no pandemic.

Click on thumbnail.

That's 3 weeks old. Yes the CPI is increasing mostly energy and used cars and trucks, I don't see that it's connected to stimulus but there are shortages as the supply chain catches up.

[sholomar]

Originally Posted by Myghost

You do realize that it was trump who printed the zillions, when he put pressure on the fed to artificially suppress prime lending rates. How do you think money gets "printed" in this day and age?

And that does not even begin to touch his reckless deficit spending, which should have been MUCH lower than Obama's, but was barely less, given the circumstances. https://www.businessinsider.com/trum...clinton-2019-2

But the real story here is the prime rates, which are the main source of SUSTAINED inflation.

He really was more part of the swamp than most want to admit...either that or he thought pumping up the economy would help re-election chances. Bottom line is we either continue to deficit spend, continue unlimited QE to suppress interest rates, monetize the debt, or the whole system implodes. There is no other choice. It's way too overleveraged at this point to try to pay off debt through any other means. If prices and wages double, the debt burden is cut by half. That's their plan.

I was just happy he kept out the refugees and illegals.

[Ken_N]

Originally Posted by Roboteer

https://www.bls.gov/news.release/pdf/cpi.pdf

That's what happens when you print a zillion tons of money out of nothing, and hand it out for free. Pandemic or no pandemic.

Click on thumbnail.

Monetary base over the last 5 years

[Tylerrose]

I am grateful that I enjoy a mostly vegetarian diet.

Saving money by not eating and buying meat is one small way I can cut back the grocery bill.

[Mircea]

Originally Posted by Roboteer

https://www.bls.gov/news.release/pdf/cpi.pdf

That's what happens when you print a zillion tons of money out of nothing, and hand it out for free. Pandemic or no pandemic.

Click on thumbnail.

I don't have to click on the thumbnail because your analysis is all wrong.

Do let us know when you understand the difference between Demand-pull Inflation, which is caused by you, and Monetary Inflation, which is caused by the policies of central bank and/or government.

Percent Change = (New - Old) / Old

January CPI = 263.612
May CPI = 255.296

% Change = (263.612 - 255.296) / 255.296 = 3.257%

I just debunked your thread.

A rate of 3%-5% for combined forms of inflation (Demand-pull, Cost-push and Monetary) is perfectly normal.

Your combined rate of inflation over the last 40 years is 2.7% and only 2 countries have done better: Switzerland and Britain.

The only reason we're seeing a teeny-weeny-tiny spike is gasoline prices.

You had a problem with a pipeline and everyone's got cabin fever and dying to get out of the house.

You think you start an oil well with a mouse-click? Is that what you thought?

That ain't how it works. When the price of oil drops below a certain point, there are many wells that are not profitable to pump. Those wells are shut down. An oil service crew -- which is what Haliburton does -- goes out and caps the well. Then they pump air through the feeder pipelines and shut off the valves up to the main pipeline. Then you set all the equipment and machinery for long-term storage, so you drain all the hydraulic and other fluids out.

To restart the well, you reverse the process. Get machinery and equipment ready, uncap the well, bleed the air out of the feeder pipeline and start pumping.

That's 10-14 days for starting or stopping.

And, no, sorry, oil services crews aren't camped out in a 5th-wheel eating pork and beans and playing pinochle waiting for some to tell them to start the well.

You got more than 950,000 wells, not counting off-shore platforms. If you're gonna have a crew camped out at every one of those you'd be lucky to pay $27/gallon for gasoline on a good day.

Are you cable rates going up? Cell-phone rates? Electric rates? Eggs, cheese, butter, milk, clothes? Tampons? Condoms?

Your wages?

No, they're not so your thread is dead.

How do you think Germans in the Wiemar Republic could afford to pay 320 Million Marks for a newspaper?

Well, duh, it's because they got paid 4 Billion Marks/hour.

The price of a handful of things rising because of Supply/Demand issues is not the Federal Reserves' fault. See if you can wrap your brain around that.

[bluesjuke]

Though I make substantially more than I did back in 2002 with the same company my pay is equivalent to $.065 less an hour 19 years later.

[mirage98de]

I’m trying to do my part and minimize my personal spending until traitor joe and cackles the clown have been purged from the White House.

[tickyul]

The die has been cast........Fedgov will not threaten the pumpumpump-monster they created.

So, bellyache and moan all you want, Fedgov is going to keep doing the same. Probably will keep going with the same tactic longer than they did during the scammy "great recession".

[hooligan]

Originally Posted by tickyul

The die has been cast........Fedgov will not threaten the pumpumpump-monster they created.

So, bellyache and moan all you want, Fedgov is going to keep doing the same. Probably will keep going with the same tactic longer than they did during the scammy "great recession".

QE has never stopped since then, has it?

[lieqiang]

Originally Posted by Roboteer

That's what happens when you print a zillion tons of money out of nothing, and hand it out for free. Pandemic or no pandemic.

Folks like you on this forum have been predicting hyperinflation due to "printing money" for well over a decade, at least since QE1 started back in 2008. So this is your great told-you-so-moment? After 12+ years of extremely low inflation despite all your clamouring about hyperinflation you're forced to talk about inflation soaring when it goes over 5%?

This is fail.

Originally Posted by Mr.Retired

The median bank account for U.S. house holds is $5,300.
The average bank account balance is $ 40,000.
The Average American debt totals $52,940

In terms of numbers I see it as many folks acting below average .................

I don't see your point. I don't keep most of my net worth in a bank account, that would be foolish. For many people most of their debt is their mortgage, yet you don't seem interested in the value of that asset.