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Inflation Extends Cooling Streak to Hit 2.5% in August

Anthony60 said:
I like how there is zero responsibility taken for inflation, but 100% credit should be given for no longer running at 8%. Thanks for putting out that fire you set!
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Use your words... what caused 8% CPI inflation? Your claim is that Biden caused higher inflation.
 
Michael Cole said:
I have no idea what you're talking about. The Fed cooled investment and the reopening of the supply chains is what brought inflation down. You can blame or congratulate anyone you want.
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In December of 2022, Australia's YoY change in CPI reached 7.8%. They cannot even begin to explain how Biden did that.
 
stealthycat said:
why are prices still very high from the 3 1/2 past years of Biden/Harris ?

those prices from their high inflation years will NEVER GO AWAY

View attachment 67532920
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I know that Trump and his flock try to make us forget his since term, and make it seem as it was the best of times -- conveniently forgetting that in his term we couldn't buy toilet paper.

It also needs to be said that there was only one president in the last 100 years to preside over falling prices. That was Herbert Hoover.

It is unrealistic to expect prices to fall. What one can expect is for incomes to rise to counteract consumer prices -- and that's exactly what's happened.
 
MTAtech said:
I know that Trump and his flock try to make us forget his since term, and make it seem as it was the best of times -- conveniently forgetting that in his term we couldn't buy toilet paper.
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during a 3 months period where Democrats shut down the nation toilet paper wasn't easy to get you're right

MTAtech said:
It also needs to be said that there was only one president in the last 100 years to preside over falling prices. That was Herbert Hoover.
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Trump's economy was vastly better than Biden/Harris

MTAtech said:
It is unrealistic to expect prices to fall. What one can expect is for incomes to rise to counteract consumer prices -- and that's exactly what's happened.
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irrelevant to the disaster Biden/Harris 4 years were but hey, we're not going back to all that right ?
 
Kushinator said:
Are you prepared to actually discuss inflation outside of a few partisan taking points?

What is your take on the Fed's 2% mandate? 🙃
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I would prefer to discuss items out of partisan talking points. That's often difficult to do here.

It's a 2% target on inflation (not a mandate). What's the question?
 
Michael Cole said:
It's incorrect because gas was $6 two years ago and is $4 today. A 33% difference is noticeable to most.
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$6 to $4? What country do you live in?

Yes, over two years the shift can be noticeable. Month to month minor variation, usually not.
 
 
MTAtech said:
Let's look at that:
GDP
The country’s economic output grew strongly under both Biden and Trump, with real gross domestic product, which tracks the inflation-adjusted value of all goods and services produced by the U.S., expanding at an annualized rate of 2.7% during Trump’s first three years and 3.5% during Biden’s.

Job Growth:
Barack Obama+ 1,197 mil
Barack Obama
+ 10,373 mil
Donald Trump- 2,720 mil
Joe Biden
+14.8 mil
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Some profound dishonesty there, in looking at the start and end of their term.. Both Bush and Trump had major economic disasters at the tail end of their presidency that were largely beyond their control. Obam and Biden both had the good fortune of starting their presidency at the bottom of an economic downturn, and benefitted from a bounce back driven largely by the actions of their predecessor.
 
Anthony60 said:
Do you think government spending can cause inflation?
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By definition, deficit spending shifts aggregate demand to the right, hence it can facilitate higher prices. But that is the point of stimulus.

Is it possible to over-stimulate to the point where it induces excessive inflation? Maybe... but that's going to be far in excess of giving people $2500 in free money.

The pandemic stimulus was quite effective in ensuring the economy didn't go into a deep spiral that would take a generation to recover. Essentially, you folks are trying to have it both ways. We didn't need anymore stimulus because the Democrats won... but since they won and provided another relief package, it is the cause of inflation (which every major economy in the world dealt with). Countries that didn't simulate in 2021 still faced excessive inflation.

Your entire position is parroting ignorance.
 
Kushinator said:
By definition, deficit spending shifts aggregate demand to the right, hence it can facilitate higher prices. But that is the point of stimulus.

Is it possible to over-stimulate to the point where it induces excessive inflation? Maybe... but that's going to be far in excess of giving people $2500 in free money.

The pandemic stimulus was quite effective in ensuring the economy didn't go into a deep spiral that would take a generation to recover. Essentially, you folks are trying to have it both ways. We didn't need anymore stimulus because the Democrats won... but since they won and provided another relief package, it is the cause of inflation (which every major economy in the world dealt with). Countries that didn't simulate in 2021 still faced excessive inflation.

Your entire position is parroting ignorance.
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That's just leftist bullshit. Government spending is out of control. Both parties use it first and foremost to buy votes, but the Democrats way more. Nothing like spending other people's money for your own benefit.
 
I remember when I was a kid I could buy a candy bar for under 25 cents. Damn you inflation!

/Me looking back at my income over the last few years, "ohh it's just a mirage, my income growth continues to outpace inflation."

I also know that those employed under me are making significantly more money in the last several years, and that the pay rate of obtaining new staff has grown much faster than inflation.
 
Anthony60 said:
That's just leftist bullshit.
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Your opinion doesn't matter.
Anthony60 said:
Government spending is out of control.
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Another wireless opinion.
Anthony60 said:
Both parties use it first and foremost to buy votes, but the Democrats way more. Nothing like spending other people's money for your own benefit.
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Whatever. I already explained how government spending impacts prices. You responded like a typical "education is leftism" cultist.

Good luck with that!
 
stealthycat said:
I blame Trump for this
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Funny comment. Part of this discussion is enlightening, part of it disingenuous. Beneath the comments are suggestions of Biden-bad vs Biden-good. It reminds me a bit of people getting hysterical at higher inflation a while ago, with no mention or consideration of the facts that 1- we were coming out of COVID lockdown and there was pent-up demand for goods, desire to travel etc., hence inflation; 2- that inflation here seemed to be less than in comparable countries; 3- just as Biden got blamed for inflation, Obama and Trump benefitted from a recovery that began in Bush’s last year. I believe that an administration’s economic policies don’t have significant effects short term, but they can lay the foundation for good or bad over the long term. An exception might be Trump’s tariff plans.
 
hooligan said:
Speaking of inflation......






And


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I don’t understand Nick Iacovella’s comment that tariffs don’t affect prices. A Toyota comes into the US and the dealer puts the price at $50,000. A 10% tariff is imposed and the price becomes $55,000. I buy the car for more, in effect paying the tariff. Now I could look elsewhere for goods, making US products more attractive. Or the dealer could make less profit. But where is the logic in saying tariffs don’t matter. How are they different in their effect from a sales tax?
 
Nickyjo said:
I don’t understand Nick Iacovella’s comment that tariffs don’t affect prices. A Toyota comes into the US and the dealer puts the price at $50,000. A 10% tariff is imposed and the price becomes $55,000. I buy the car for more, in effect paying the tariff. Now I could look elsewhere for goods, making US products more attractive. Or the dealer could make less profit. But where is the logic in saying tariffs don’t matter. How are they different in their effect from a sales tax?
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I think his assertion is that it's not a 1:1 price increase - which is really irrelevant, even if it's true. If the retailer takes a 2-3% hit, and the customer "only" pays 7-8% more, is that really any better/different for our overall economy?
 
Kushinator said:
By definition, deficit spending shifts aggregate demand to the right, hence it can facilitate higher prices. But that is the point of stimulus.

Is it possible to over-stimulate to the point where it induces excessive inflation? Maybe... but that's going to be far in excess of giving people $2500 in free money.

The pandemic stimulus was quite effective in ensuring the economy didn't go into a deep spiral that would take a generation to recover. Essentially, you folks are trying to have it both ways. We didn't need anymore stimulus because the Democrats won... but since they won and provided another relief package, it is the cause of inflation (which every major economy in the world dealt with). Countries that didn't simulate in 2021 still faced excessive inflation.

Your entire position is parroting ignorance.
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I really don't think that was the argument, from anyone other than partisan folks.

The argument is that the third round of stimulus was un-needed expenditure and certainly contributed to the inflation. Inflation was caused by Covid, and the response to Covid. Whether you see the response to Covid as a good or bad thing. In retrospect, we can see that some governmental entities went too far (hurting the economic/educational areas) of their respective States.
 
"Lies, lies, all lies and fake news. The lying so-called mainstream media is lying about me again in its illegal commie plot to prevent the American people from giving me the victory that I won in 2020 and was cheated out of then." - DJT on Shittere
 
MTAtech said:
Let's look at that:
GDP
The country’s economic output grew strongly under both Biden and Trump, with real gross domestic product, which tracks the inflation-adjusted value of all goods and services produced by the U.S., expanding at an annualized rate of 2.7% during Trump’s first three years and 3.5% during Biden’s.

Job Growth:
Barack Obama+ 1,197 mil
Barack Obama
+ 10,373 mil
Donald Trump- 2,720 mil
Joe Biden
+14.8 mil
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because of covid shutdowns that Democrats wanted too you're right - and if we're blaming Trump for everything, Biden's numbers are BECAUSE of Trump policies, right ?
 
stealthycat said:
because of covid shutdowns that Democrats wanted too you're right - and if we're blaming Trump for everything, Biden's numbers are BECAUSE of Trump policies, right ?
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Only if you acknowledge that Trump benefited from Obama's economy.
 
MTAtech said:
Only if you acknowledge that Trump benefited from Obama's economy.
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and Obama from GW

is that it ? always blame and credit the previous POTUS ?

in that case MORE reason to vote Trump
 
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