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The headline number is out of date in that it does not reflect the sharp drop in gasoline prices over the past few weeks. The concerning number is the core at 5.9% which is too high and will almost certainly cause the Fed to give yet another dose of the wrong medicine ensuring a recession some time late this year or early next.
The good news, if any, is that the recent gas price drops probably offset the increased other costs for most consumers over the past month. Gas prices should continue to drop barring a hurricane or some other supply perturbation. Much of the commodity markets price drop has not reached the pumps yet. We could see gas below $4 in most of the country in a couple weeks and down into the mid $3 range in the cheaper places.
Um, no it doesn't "offset" anything. 20 cents per gallon lower on a 16 gallon tank is $3.20. That is far from offsetting the high cost of groceries, electric and other things.
Um, no it doesn't "offset" anything. 20 cents per gallon lower on a 16 gallon tank is $3.20. That is far from offsetting the high cost of groceries, electric and other things.
I really wonder if these leftists believe their own BS.
The headline number is out of date in that it does not reflect the sharp drop in gasoline prices over the past few weeks. The concerning number is the core at 5.9% which is too high and will almost certainly cause the Fed to give yet another dose of the wrong medicine ensuring a recession some time late this year or early next.
Out of date...by 12 days? Just this morning, the prediction was 8.8%. Inflation rose a full 1/2% in June alone.
By the way, oh proven stock market & economics expert - if the Fed raising rates again is the "wrong medicine", what do you and your liberal econ experts suggest? Pump another couple $T in, which got us where we are? Just accept 18% inflation because by golly, at least we spent our way into not having negative growth?
Oh wait ... it's too late for that. Because Q2 has already ended. What happened gets reported almost 3 months from now (Q1 was only official 2 weeks ago)... what term for "out of date" would you assign to that?
And it's not like the 4 were NY, CA, FL and Texas. Only MA, MI, NH and Vermont
Quote:
The good news, if any, is that the recent gas price drops probably offset the increased other costs for most consumers over the past month. Gas prices should continue to drop barring a hurricane or some other supply perturbation. Much of the commodity markets price drop has not reached the pumps yet. We could see gas below $4 in most of the country in a couple weeks and down into the mid $3 range in the cheaper places.
Under TFG, gas never exceeded $3/gallon.
You think a 10-20% drop in crude prices will get gas to below $4? The last time crude was this price (late April/early May) gas was over $4.
Beat me to it. I was going to ask the same thing. Also, with the attitude that poster has, that he is helping those less fortunate than him, that are barely making it, out.
But that's just gas which is notoriously volatile. I'd guess at three years of around 10 percent inflation. Roughly that's just a proportional reaction to the disasterous economic policies we've had over the last 2 years, now going on 3.
Piper needs paying. It was really strange to me how many people were clamoring for more stimmies, free rent, unconditional unemployment. Did they really think it was free lunch?
a good 30+% of people VOTE based on what the government is going to give them.
Gas and food high prices for sure.
Airline, hotel prices still higher.
Some consumer items are decreasing in price because otherwise nobody will buy them. The people have less money to spend on optional items.
Even with inflation, food prices are still a bargain, compared to other countries. Is it because we heavily subsidize agriculture?
Yeah, the calculus leaves out many consumer goods and services that would push the number much higher if included. It's probably closer to 12% in reality. Maybe even a little higher.
Hear that giant clunk? It's the cratering of the stock market.
if our over-inflated stock market fell 5000 points tomorrow, no worries. If it fell another 5000 points the next day no worries. Now if it falls another 5000 points the next day, then I'll start worrying.
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