Inflation surges 7% in December, highest rate in 40 years

[MTAtech]

Oh yeah, without a doubt. The partisanship is much too obvious to ignore. I have critiqued the Biden administration for a variety of things during their tenure, and that's simply because I don't hold some absurd absolutist idea that any one party or political ideology is without fault on its own; to think that way is very limiting and obtuse. Then, of course, there's the simple fact that each leader brings their approach and methods in how they craft and execute policy.

As you point out, there's a lot of nuance to unemployment numbers, so it's not a clear cut "this president good, that one bad!" because there are a lot of dynamics that impact unemployment. One can certainly debate the causes, but some people are not interested in doing that; they would rather only discuss it in the context of partisanship. That kind of endeavor is a waste of time.

The employed percentage of prime-age adults has generally been a good indicator of the state of the labor market. Another good indicator is the rate at which workers are quitting their jobs: Quits are high when people believe that new jobs are easy to find. Normally these two measures move in tandem; but something has changed.

The number of people who are quitting. And wages are rising rapidly, which suggests that quits are telling the real story.

What we’re seeing, of course, is the Great Resignation — which is also, to an important extent, a Great Retirement. A recent blog post from the International Monetary Fund shows that there has been a surge in the number of older Americans (and Britons) choosing not to be in the labor force.

Now, a labor market in which jobs are easy to find and workers can bargain for higher wages is a good thing. But the fact that labor markets are so tight even though employment and real G.D.P. are below prepandemic projections suggests that we can’t rely on those projections to assess the economy’s productive capacity. For whatever reason or reasons — presumably linked to Covid-19 — the U.S. economy apparently can’t sustainably produce as much as we expected. I guess employers can increase wages even more to induce retired workers to return to the labor force, but I don’t think that will happen.

Thos tells us that it’s time for policymakers to pivot away from stimulus — in particular, that the Federal Reserve is right to be planning to raise interest rates in the months ahead. As I read the data, it doesn’t call for drastic action: The Fed should be taking its foot off the gas pedal, not slamming on the brakes.

 

[Tbird19482]

Do you have difficulty reading social queues or having conversation?

For some reason he can't seem to figure out the whole country has had a drop of about 3% unemployment since Biden took office
He keeps saying why is Cal still at about 6% when states like Wyoming is at an unemployment rate of 3.7%
well for Cal.to drop that avg of 3% that the country has and Wyoming to do the same Cal has to put almost 5 times the number of people back to work as there are total people in Wyoming
Have a nice day

 

[Kushinator]

For some reason he can't seem to figure out the whole country has had a drop of about 3% unemployment since Biden took office
He keeps saying why is Cal still at about 6% when states like Wyoming is at an unemployment rate of 3.7%
well for Cal.to drop that avg of 3% that the country has and Wyoming to do the same Cal has to put almost 5 times the number of people back to work as there are total people in Wyoming
Have a nice day

I'm speaking of @danielpalos who insists on sitting in the corner and eating crayons, telling us blue tastes better than red.

 

[Kushinator]

For some reason he can't seem to figure out the whole country has had a drop of about 3% unemployment since Biden took office
He keeps saying why is Cal still at about 6% when states like Wyoming is at an unemployment rate of 3.7%
well for Cal.to drop that avg of 3% that the country has and Wyoming to do the same Cal has to put almost 5 times the number of people back to work as there are total people in Wyoming
Have a nice day

I've pointed this out in the jobs thread. Red states, outside a few small population states like Utah, North and South Dakota, Nebraska, Kansas, etc... have labor force participation rates well below the national average. California lost more jobs during the pandemic than the entire labor forces of Utah, North Dakota, and South Dakota combined.

 

[ElChupacabra]

I have answered it and pointed out where the popular vote win came from again ignored by you.

You actually haven't, and your answer is a poor deflection.

You really aren't very good at debate and that is a true embarrassment

That this comes from someone who can't even answer a simple question is pretty funny.

 

[Conservative]

You actually haven't, and your answer is a poor deflection.




That this comes from someone who can't even answer a simple question is pretty funny.

There was a reason I didn't respond to your posts for some time now and you are about to put me back into that situation. Deflection to you means links that destroy your narrative. Your response continues to be diversion and making up crap that is false, crap like I haven't answered your questions, the reality is you run from mine

What simple question?

 

[ElChupacabra]

I don't expect you to do my homework only yours, why do you buy rhetoric and ignore the official results?

Considering the point I initially made about your hypocrisy, you are doing what you always do: deflect and switch topics.

Interesting how you claim to know the answers but never post them. Here is the link for state unemployment, yours is 6.6%, why?

I could discuss it, but I'd rather not because I know the responses I will get that will have little to do with anything other than "liberalism is a fraud".

I have also posted the link to the inflation numbers showing 7% for 2021 and extremely low inflation 2017-2018-2019 which of course you ignored as well since it doesn't fit the liberal narrative of ignoring bad data and diverting from it

LAUS Home : U.S. Bureau of Labor Statistics

www.bls.gov

Current US Inflation Rates: 2000-2024

The annual inflation rate for the United States was 3.2% for the 12 months ending February, compared to the previous rate of 3.1%, according to U.S. Labor Department data published on March 12, 2024. The next inflation update is scheduled for release on April 10 at 8:30 a.m. ET, providing...

www.usinflationcalculator.com

You have a loyalty to an ideology filled with hot air and unfulfilled promises where appeals to your heart melt it and continue to generate liberal leadership. Einstein got it right, doing the same thing over and over again expecting different results is insanity and that describes liberal supporters

I don't think there's a better example of being oblivious to the conditions between two time frames than what you have just posted. What would be wonderfully entertaining is to see what your response would be if Trump would have been in office and the inflation rate were the same, which based on the policies of the previous administration, would likely have yielded the same results.

That you continue repeating the tired "you have a loyalty to blah blah blah" when nothing I have stated is partisan or even in reference to one politician or the other, is indicative of how narrowly you perceive everything.

 

[ElChupacabra]

There was a reason I didn't respond to your posts for some time now and you are about to put me back into that situation. Deflection to you means links that destroy your narrative. Your response continues to be diversion and making up crap that is false, crap like I haven't answered your questions, the reality is you run from mine

Nope. If you read clearly what I have addressed, it's specific to your hypocrisy regarding approval rating polls. You have since deflected with all sorts of things; that is the definition of deflection.

What simple question?

See post #661.

 

[Conservative]

Considering the point I initially made about your hypocrisy, you are doing what you always do: deflect and switch topics.

Yes you gave your opinion and I reject it

I could discuss it, but I'd rather not because I know the responses I will get that will have little to do with anything other than "liberalism is a fraud".

right official data, context have no place in your mind

I don't think there's a better example of being oblivious to the conditions between two time frames than what you have just posted. What would be wonderfully entertaining is to see what your response would be if Trump would have been in office and the inflation rate were the same, which based on the policies of the previous administration, would likely have yielded the same results.

Two time frames? Explain to us all why inflation was so high in 2021 but not 2017-2020?

That you continue repeating the tired "you have a loyalty to blah blah blah" when nothing I have stated is partisan or even in reference to one politician or the other, is indicative of how narrowly you perceive everything.

And you do what you always do, troll never responding to the post and facts

 

[ElChupacabra]

The employed percentage of prime-age adults has generally been a good indicator of the state of the labor market. Another good indicator is the rate at which workers are quitting their jobs: Quits are high when people believe that new jobs are easy to find. Normally these two measures move in tandem; but something has changed.

The number of people who are quitting. And wages are rising rapidly, which suggests that quits are telling the real story.

What we’re seeing, of course, is the Great Resignation — which is also, to an important extent, a Great Retirement. A recent blog post from the International Monetary Fund shows that there has been a surge in the number of older Americans (and Britons) choosing not to be in the labor force.

Now, a labor market in which jobs are easy to find and workers can bargain for higher wages is a good thing. But the fact that labor markets are so tight even though employment and real G.D.P. are below prepandemic projections suggests that we can’t rely on those projections to assess the economy’s productive capacity. For whatever reason or reasons — presumably linked to Covid-19 — the U.S. economy apparently can’t sustainably produce as much as we expected. I guess employers can increase wages even more to induce retired workers to return to the labor force, but I don’t think that will happen.

Thos tells us that it’s time for policymakers to pivot away from stimulus — in particular, that the Federal Reserve is right to be planning to raise interest rates in the months ahead. As I read the data, it doesn’t call for drastic action: The Fed should be taking its foot off the gas pedal, not slamming on the brakes.

I have mentioned the higher number of retirees in previous posts in the context of expecting the same number of labor participants post pandemic; I don't see that happening for this reason and that some families have made decisions on the two income model based on their ability to afford one parent staying at home. I do agree with your point that wages alone aren't going to be the main decision point for people returning to the workforce.

I'm far from an expert in this area, but the sense that I get from my peers is the pandemic refocused the career goals of people, and those who could make changes did so. Some of my colleagues dropped out of the corporate sector to consult because they wanted greater freedom and mobility. Others left service industries to start their own businesses. I have made career changes as well, and as a result am making more money and the flexibility I want. I see this as a rather fluid time in terms of jobs, and we will need to see how things settle over time. The question I wonder about is whether it will revert to what was, or become an entirely modified paradigm.

 

[Conservative]

A question you never seemed bother with during the previous administration. Why is that?

The previous administration focused on generating positive results promoting the private sector, this administration is ignoring the private sector promoting instead massive gov't funding

AS for your simple question. So the question is why do you suddenly find approval ratings so important when they weren't before.

Have no idea why you are focused on this issue of poll results, NEVER did I touted poll numbers during the Trump term, I defy you to find where that is the case. It was always about results. Same today and same standards for me as results matter and it is results that are driving the poll numbers today as Biden was very popular after winning the election. You tell me why the poll numbers are so low now if it isn't results?

You ignored the results during the Trump term blaming him for Covid response and ignoring the four years of hate rhetoric from the left and media some of which was promoted by Trump and his personality. You deny that the official results posted pre pandemic existed focused instead of the Covid response and hate rhetoric. You get the results you wanted, getting rid of Trump, now we are paying for who you helped put into the WH totally ignoring the results being generated

 

[Conservative]

I have mentioned the higher number of retirees in previous posts in the context of expecting the same number of labor participants post pandemic; I don't see that happening for this reason and that some families have made decisions on the two income model based on their ability to afford one parent staying at home. I do agree with your point that wages alone aren't going to be the main decision point for people returning to the workforce.

I'm far from an expert in this area, but the sense that I get from my peers is the pandemic refocused the career goals of people, and those who could make changes did so. Some of my colleagues dropped out of the corporate sector to consult because they wanted greater freedom and mobility. Others left service industries to start their own businesses. I have made career changes as well, and as a result am making more money and the flexibility I want. I see this as a rather fluid time in terms of jobs, and we will need to see how things settle over time. The question I wonder about is whether it will revert to what was, or become an entirely modified paradigm.

I will remind you that the left makes excuses in this case retirees. Do red states have retirees? Why does your state have 6.6% unemployment when the national rate is 3.9%. it is all about incentive, paying people not to work destroys incentive and also destroys employability. Your state, California, and NY are bastions of liberalism where incentive to work has been destroyed by the entitlement ideology promoted.

 

[ElChupacabra]

Yes you gave your opinion and I reject it

It wasn't an opinion, it was a clear indication of hypocrisy.

right official data, context have no place in your mind

Incorrect. They all do, but opinion on official data are an entirely different matter.

Two time frames? Explain to us all why inflation was so high in 2021 but not 2017-2020?

If you have to ask, then you probably don't know enough to have the discussion.

And you do what you always do, troll never responding to the post and facts

I have been very factual. I quoted your statements from the past regarding a specific topic to show your inconsistency and how your partisanship clouds your ability to view anything objectively. What you are trying to do is deflect by asking all sorts of questions which have nothing to do with what I was discussing.

 

[ElChupacabra]

The previous administration focused on generating positive results promoting the private sector, this administration is ignoring the private sector promoting instead massive gov't funding

Pablum.

Have no idea why you are focused on this issue of poll results, NEVER did I touted poll numbers during the Trump term, I defy you to find where that is the case. It was always about results. Same today and same standards for me as results matter and it is results that are driving the poll numbers today as Biden was very popular after winning the election. You tell me why the poll numbers are so low now if it isn't results?

Clearly you have some kind of issue with reading comprehension. I simply quoted your past comments about how polling results didn't matter when they were used to criticize the former president. Yet now, when there is a new president in place, you comically assert that opinion polls matter. It's really not that complicated.

You ignored the results during the Trump term blaming him for Covid response and ignoring the four years of hate rhetoric from the left and media some of which was promoted by Trump and his personality. You deny that the official results posted pre pandemic existed focused instead of the Covid response and hate rhetoric. You get the results you wanted, getting rid of Trump, now we are paying for who you helped put into the WH totally ignoring the results being generated

 

[Conservative]

It wasn't an opinion, it was a clear indication of hypocrisy.

yes your opinion on the financial data only supports your liberal rhetoric of spending in the name of compassion and there are no negative consequences for poor choices made

Incorrect. They all do, but opinion on official data are an entirely different matter.

Opinions don't win court cases or debate. Your opinion is misguided and ignores context of the data

If you have to ask, then you probably don't know enough to have the discussion.

I know what causes inflation you and "your" president don't have a clue

I have been very factual. I quoted your statements from the past regarding a specific topic to show your inconsistency and how your partisanship clouds your ability to view anything objectively. What you are trying to do is deflect by asking all sorts of questions which have nothing to do with what I was discussing.

You claimed I touted polls during the Trump years, that is a lie! My partisanship? Really? this former JFK Democrat is partisan promoting the private sector and individual responsibilities? What we should be discussing is the thread topic and why the inflation rate was so high in 2021 and what policies Biden implemented that affected that rate.

 

[Conservative]

Pablum.


Clearly you have some kind of issue with reading comprehension. I simply quoted your past comments about how polling results didn't matter when they were used to criticize the former president. Yet now, when there is a new president in place, you comically assert that opinion polls matter. It's really not that complicated.

Again you keep making things up, when did I say that polling numbers never mattered, what generates polling numbers and why are Biden's so low? I know why Trump's were low, civics challenged liberals and 4 years of hate rhetoric focused on Trump's personality created probably enough votes for Biden to cost Trump the election. It was Trumps personality not results

 

[PeteTheGeek]

The only policy of Biden was the American Rescue Plan.

I think I remember one or two trillion around some infrastructure…. I remember it because the administration said that racial equality would be a major driver when deciding where the money goes….

 

[MTAtech]

I've pointed this out in the jobs thread. Red states, outside a few small population states like Utah, North and South Dakota, Nebraska, Kansas, etc... have labor force participation rates well below the national average. California lost more jobs during the pandemic than the entire labor forces of Utah, North Dakota, and South Dakota combined.

It’s all math. Add 8,000 jobs in South Dakota and that’s 1% when it wouldn’t move the needle in CA.

 

[Conservative]

It’s all math. Add 8,000 jobs in South Dakota and that’s 1% when it wouldn’t move the needle in CA.

California 1.3 MILLION unemployed, why? The fifth largest economy in the world?? Why is it you never focus on big liberal states obviously wanting this country to have 50 California's

LAUS Home : U.S. Bureau of Labor Statistics

www.bls.gov

 

[Gimmesometruth]

California 1.3 MILLION unemployed, why? The fifth largest economy in the world?? Why is it you never focus on big liberal states obviously wanting this country to have 50 California's

I think it would be great if we had 50 states all tied at achieving "5th biggest economy in the world".

Why wouldn't you?

 

[ElChupacabra]

yes your opinion on the financial data only supports your liberal rhetoric of spending in the name of compassion and there are no negative consequences for poor choices made

Non sequitur since my only response to you has been about your citation of job approval polls.

Opinions don't win court cases or debate. Your opinion is misguided and ignores context of the data

I have not opined on anything other than pointing out your hypocrisy regarding job approval polls.

I know what causes inflation you and "your" president don't have a clue

Neither do you apparently given the questions you have asked.

You claimed I touted polls during the Trump years, that is a lie! My partisanship? Really? this former JFK Democrat is partisan promoting the private sector and individual responsibilities? What we should be discussing is the thread topic and why the inflation rate was so high in 2021 and what policies Biden implemented that affected that rate.

That is not what I said at all. If you read my original post and arrived at that conclusion, then you clearly have reading comprehension issues.

 

[ElChupacabra]

Again you keep making things up, when did I say that polling numbers never mattered, what generates polling numbers and why are Biden's so low? I know why Trump's were low, civics challenged liberals and 4 years of hate rhetoric focused on Trump's personality created probably enough votes for Biden to cost Trump the election. It was Trumps personality not results

See post #663. Your words, not mine.

 

[ElChupacabra]

I will remind you that the left makes excuses in this case retirees. Do red states have retirees? Why does your state have 6.6% unemployment when the national rate is 3.9%. it is all about incentive, paying people not to work destroys incentive and also destroys employability. Your state, California, and NY are bastions of liberalism where incentive to work has been destroyed by the entitlement ideology promoted.

Do red states not have people who were "paid not to work"? It's these piss poor attempts at connecting the dots that make most of your premises pretty vacuous.

 

[PIPEWRENCH]

The economy is actually rapidly growing right now, that is part of the problem. I don’t think you understand how supply and demand works.

It would work real well if Biden will double Social Security so people who made this country great can afford to heat their homes again with the Biden economics.

 

[Conservative]

Non sequitur since my only response to you has been about your citation of job approval polls.


I have not opined on anything other than pointing out your hypocrisy regarding job approval polls.


Neither do you apparently given the questions you have asked.


That is not what I said at all. If you read my original post and arrived at that conclusion, then you clearly have reading comprehension issues.

Do red states not have people who were "paid not to work"? It's these piss poor attempts at connecting the dots that make most of your premises pretty vacuous.

Yep but not nearly as many as the blue states, will remind you that your state is 6.6% unemployment when the nation is at 3.9. Liberals always take credit for good results and pass off blame for bad ones. You do that well.