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I really wonder if these leftists believe their own BS.
All it take is some simple calculation.
Let's say you spend $1000 per month on food. Core inflation was around 6% the last two months. That's an annual rate, so divide by 12. You get 0.5% or, as a decimal, .005. Multiply that by the $1000 you spend for food and you get an inflationary increase of $5.00. So you spent five dollars more on the same basket of groceries as you did the month before.
Now, post above says they save $3.20 on a 16g tank of gas (although the national price has dropped far more than 20 cents/gallon). If they fill once a week, the savings is $3.20 x 4 or $12.80. That is 2 1/2 times the increased cost of the groceries. If the national average drop is gas prices is used then the "savings" is more than five times the increased cost of the groceries.
Inflation affects everyone differently. For example, rents which soared in this report have no impact on me at all as I own my house. But, there is no denying that falling gas prices (which were not included in this report because they mostly came too late) are helping offset cost increases in other areas.
The economy is hot. Near record job creation, near record low unemployment. Inflation is a symptom of an overheated economy not a weak one. The fed is about to take care of that though with a couple more rate increases that, while they won't do much to cool inflation directly, will eventually bring us to a recession with falling prices and job losses and bankruptcies, etc.
The economy is hot = GDP growth or Consumer spending rising rapidly. Real wages rising.
Recovering jobs (and OMG, I saw one of the WH talkers use that word!) does not bring new growth to the economy.
Employment & unemployment go hand in hand, there's really no difference, different sides of the same coin. You don't try to cite them as different factors on how "good the economy is".
a good 30+% of people VOTE based on what the government is going to give them.
Yes, but it was really strange. The more stimmies sentiment was near universal even among people that actually pay fed income taxes. And it wasn't the bleeding heart stuff of your typical do-gooder wealthy liberals where they're worried about the poor hospitality workers. I guess you just get that much welfare getting spent and people just want a taste and so long as they get it they are happy to not ask where the trillions are coming from.
Hear that giant clunk? It's the cratering of the stock market.
Dow futures were UP overnight! Don't you know the immediate 200 pt drop at opening bell when the actual inflation number exceeded expectations is meaningless compared to the futures?
The economy is hot. Near record job creation, near record low unemployment. Inflation is a symptom of an overheated economy not a weak one. The fed is about to take care of that though with a couple more rate increases that, while they won't do much to cool inflation directly, will eventually bring us to a recession with falling prices and job losses and bankruptcies, etc.
If inflation is such a good indicator why is it the fed has spent 40 doing everything it can to keep inflation under control? Inflation is a indicator that they economy is off track. Its very damaging to the over all economy and hurts all people. And in poorer countries higher fuel prices are literally taking food off the table.
Q1 GDP was negative. Q2 is expected very low or again negative. That means we are in a recession. The high inflation numbers are taking money out of everyone's pocket on a daily bases are probably the reason the economy is shrinking.
Shelter makes up about 30% of the CPI, but politicians won't touch that issue since most Americans are homeowners. So we'll keep talking about gas.
Like I said 2 years ago. Rents increased drastically because landlords were unable to collect them for 18 months or so. What did people expect would happen?
Even with inflation, food prices are still a bargain, compared to other countries. Is it because we heavily subsidize agriculture?
"y'all complaining about gas prices should move to Europe!"
$20B in farm subsidies on $1.7T in food spending. That's 1.1% for the math-challenged.
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