The private sector lost 33,000 jobs in June, badly missing expectations for a 100,000 increase, ADP

Gatorjo, g8tas, and wardamn( who can’t even differentiate UF from Auburn) give me “Cone on man’s). That is a good day!!!

 

Basic math?

 

And you think those 2 things are different? The inflation rate is just a quantification of inflation. It's crazy the things folks will argue about here.

 

Seniors yelling at clouds.

 

Not as crazy as when people who are wrong continue yo perpetuate a false claim. By your illogic, MPH is the same thing as miles. Wind speed is the same as wind.

 

MPH is not the same as miles. MPH is a measurement of velocity. Wind speed is a measurement of wind. Inflation rate is a measurement of inflation.

So tell us how the inflation rate is different than inflation.

 

Did you have a point, or just wanted to start a pissing match over something completely inane and irrelevant?

That poster correctly asserted that for prices to go down in broad terms you’d need deflation. That is true whether we are discussing the inflation rate, or whatever the hell distinction you are trying to make. Inflation is one of those things we pretty much *always* refer to in rates. Why? Because it’s comparing a “basket of goods” vs a “basket of goods” and calculating the difference. The price of this basket of goods on its own has no real meaning to anyone so it would seem odd to express it in “price”. It only has meaning as a data collection methodology (to maintain consistency) for the express purposes of determining a broad inflation rate (I.e change in prices across time periods).

To be fair, I do think calling it transitory inflation implied that prices would come back down, not that it would settle at 2% or 3%. We did see that with plenty of different commodities where shortages were occurring for easily identifiable reasons, individual prices spiked for a time then came down (I.e. transitory). But rubes aren’t interested in any of that economic nuance or how inflation is actually calculated, they just see Chili’s baby back ribs went from $15 to $25 and that defines it for them.

 

So much continued horsecrap from you two. If what you are spewing was true, then inflation would be inflation would be inflation. 10% inflation would be no different than 2%. Well as in many things the rate is different than the event or condition itself. Inflation is one of those things.

I’ll make you a deal; if the people who have and are erroneously claiming that inflation and inflation rate are the same will admit that they were/are wrong, then I will stop pissing on them.

 

I think I see the problem here. You seem to think inflation means 'high' inflation when in fact inflation means any inflation. 2% inflation is still inflation. 10% inflation is still inflation. The way we distinguish them is the rate (the 2 or the 10).

But since you think inflation means high inflation, was is the cutoff? At what rate do we shift from no inflation to inflation? I know the answer to this but I want to hear your answer.

 

You’re really, really reaching there. It would be a whole lot easier for to just admit that it was a foolish thing to say inflation rate and inflation are two different things. Now you’re even dancing on the line of differentiation, but you still are acting as if you have a valid argument by imaging in your head what you think might be going on in mine. Well it just makes you look more foolish. But hey, I’m sitting in an airport having a drink and I have about another hour before boarding so I’m fine pointing out your liberal foolishness that you are loathe to admit yourself. Let me make it simple for you. The Biden inflation was NOT transitory and inflation and an inflation rate are not the same thing.

 

Wait. You're the one who said the inflation rate and inflation are two different things. I'm arguing that they are not and that the inflation rate is just a quantification of inflation.

Let's go back to post 54, where you said:

'You are intentionally confusing the inflation rate with inflation in a feeble attempt to make a point.'

 

Ok, you said the opposite of this earlier in the post. I'll assume you are just very confused. A safe assumption. So at what rate do you think we go from no inflation to inflation? Just give me a number.

 

On a related note I think we are in big trouble employment wise with AI and it's going to hit very hard eliminating jobs over the next 5 years or so. It will eliminate real needed jobs and also a lot of corporate type jobs where people were getting paid nice money for a job that didn't even need to exist - those office jobs where you saw naive employees posting their daily routine that showed the job shouldnt even exist. If I had to predict the fallout women will be the biggest hit by far because they hold the majority of those jobs especially the ones that shouldn't even exist regardless of AI. Males will take a hit also but not nearly as big I think. The males mostly hurt I think will be in things like programming etc where AI will reduce the headcount needed by quite a bit. I also don't see anything on the horizon picking up the slack like the service sector jobs did when factory jobs plummeted years ago. I think laid off office type workers will struggle a lot finding replacement employment.

 

Depends on how one defines transitory. High inflation lasted less than one year.

 

Those inflation numbers are a joke. Anyone living in the real world knows it was way higher on what regular people had to use to keep a roof over their head and pay for food and electricity etc. It's why so many people on fixed incomes are being forced from their homes here in FL and why average Joe barely has any extra spending money now while he did have some before 2021 on.

 

Yeah, inventing facts is fun. We get it. But, in reality, savings rates are pretty consistent with pre-pandemic levels (though way down from pandemic savings rates). In addition, inflation accounts for all of these categories that you mention (food, housing, electricity) and weight them based on the percentage of overall consumer spending in each category.

 

Numbers are accurate. You have to remember, inflation rate is based on current prices and have a cumulative effect. There is no baseline of prices. So while inflation rate quickly dropped back down to around 3% or less, a 3% increase in March 2023 was an increase of prices that had jumped much higher in 2022. So, if someone on a fixed income had trouble paying bills in 2022, it would only be even more difficult in 2023 even with an inflation rate at around 1/3 higher.

The COVID inflation under Biden was transitory. But high prices tend to be sticky, and deflation isn't a common occurrence. There was also a bigger labor supply chain issue than anticipated, which caused the inflation to hover closer to 3% than the expected return to 2%.

 

By specifying which rate you are are talking about…. They report 1 month and 1 year and have charts showing any time period you want to view….

 

So if one news reporter says, “inflation increased by 2.3% in June”… and another news report says “the inflation rate for June was 2.3%”…would you assume they were talking about two different reports?