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US Core inflation level lowest in 3 years

Discussion in 'Too Hot for Swamp Gas' started by citygator, Sep 29, 2023.

  1. citygator

    citygator VIP Member

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    Charlotte
    I was upfront on that minor statement but it has zero impact on the studies I linked. It isnt really a debate. It is well understood now by economists. All I-boy sees is "capitalism bad" which isnt the claim. It is being clear about where the price increases came from so customers blame the right lever and react appropriately.
     
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  2. Gatoragman

    Gatoragman GC Hall of Fame

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    I know, believe you me I know, you are never incorrect. Everything you have ever posted has been 100% spot on. If the rest of us could just rise to your excellence the world would be much better off.
     
  3. citygator

    citygator VIP Member

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    Charlotte
    Thanks for posting something. I see probably a quick google. I will let people read the studies I posted and the tweets and opinion articles you posted and decide for themselves. I find it funny you attack studies produced by the Fed as partisan and then post conservative commentaries and tweets as evidence but at least you posted something.
     
  4. citygator

    citygator VIP Member

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    Charlotte
    Bless your heart.
     
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  5. l_boy

    l_boy 5500

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    I get it. I can’t hear you I can’t hear you Yay democrats.

    “Conservative commentaries”. I guess you consider Summers Shiller and Krugman as conservatives. That is one of the dumber posts you’ve ever posted.
     
  6. citygator

    citygator VIP Member

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    Charlotte
    Your posts are dripping with insults. Why be so insecure? It’s just a debate.
     
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  7. dangolegators

    dangolegators GC Hall of Fame

    Apr 26, 2007
    That's how it goes with I_boy any time you challenge him. I've been there too. I especially love the 'sigh' in post 235. That cracks me up, especially coming from someone with no expertise in economics.
     
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  8. l_boy

    l_boy 5500

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    To the extent they are, I am sorry, I generally try to avoid doing so. I did try to criticize the post, not you personally, in that making the assertion that the economists quoted were conservative is egregiously incorrect.

    To your last point, I guess that is the difference. I am actually trying to learn and explore point of views, not just doggedly debate. When I make a case for something, and the substance isn’t acknowledged, whether agreement or disagreement, but instead I get partisan and tribal talking points in return I get frustrated. My perception is many of your posts fall into such categories. I should probably just disengage vs continuing to argue when that happens.
     
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  9. l_boy

    l_boy 5500

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    Nice passive aggressive dig there. I’m not an expert in economics per se, but I’d stack my knowledge of it against most in this forum, and I’ve had quite a bit of exposure to it in school, career and just as a field of casual interest.

    The sigh was when you make a point and it just goes over somebody’s head or it is ignored.
     
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  10. citygator

    citygator VIP Member

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    Charlotte
    That was a link to an opinion which was based on this release from Fidelity. Notice how they framed it in the 4th paragraph. Basically it was a lot of good news with a potential caveat for the future which rose by 0.5% from 1.8% to 2.3%. Worth watching though.

    upload_2023-11-21_7-58-59.png
    upload_2023-11-21_7-59-55.png

    Fidelity® Q3 2023 Retirement Analysis: Workers Commit to the Long-Term While Navigating Uncertain Markets and Short-Term Challenges
     
  11. docspor

    docspor GC Hall of Fame

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    Damn. Who knew all that was needed to combat corp greed is higher int rates?
     
  12. BLING

    BLING GC Hall of Fame

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    He’s talking about areas where competition is lacking. Although not monopolies, he points out a few industries where they are down to just a few major players.

    He raises some good points, but I don’t think the antitrust laws are on his side in terms of breaking up any of the examples he lists. Also not all his examples are equal. He’s spot on for things like broadband and big food (many people only have 1 or 2 real choices for broadband). But automobiles? I think there’s plenty of choices there (automobiles spiked not because of lack of competition in autos, but because of concentrated supply chains in Asia and shortages in… semiconductors.).
     
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  13. danmanne65

    danmanne65 GC Hall of Fame

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    DeLand
    In general I think busting up monopolies is a good thing. My son needed a new vehicle for a new job. New and used car prices are insane right now especially with interest rates so he bought a new motorcycle instead. There is some elasticity in most purchases.
     
  14. rivergator

    rivergator Too Hot Mod Moderator VIP Member

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  15. l_boy

    l_boy 5500

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    My gut feeling is other than the case of pure monopoly, such as utilities, anti trust efforts these days are pretty ineffective and often do more harm than good. I generally agree with the Robert Bork philosophy that has been adopted by SCOTUS is that antitrust criteria should be based not in competition but whether it benefits the consumer. If oligopoly serves the consumers well so be it.

    While oligopoly does lead to greater profits and in theory more pricing power, some of the profit gain is due to cost efficiencies. Until post Covid, in spite of rising profits and oligopoly inflation was very low.

    In the tech sector much of the conversation is misguided. Ironically it’s the right that wants anti trust with tech because they think it is suppressing their speech (which is bullshit). But also Biden administration and Europe dabble in it. Tech changes so fast that by the time the govt decides to take anti trust action the tech has changed significantly.

    Broadband is a tough one. It is in some areas a monopoly but there are different technologies and players nation wide. I get pissed when our spectrum internet keeps going up, but at the same time we here will soon have a fiber option (in many places that has existed for years unfortunately not in our neighborhood) and there’s always TMobile mobile internet. High profits accelerate the development of technological alternatives.

    Health insurance is an example that is counter intuitive. Obama and other politicians really pressed for more competition in the health insurance markets. But at the same time, the areas with fewer choices often have more leverage against health care providers. If there are only a couple of health insurance choices, providers can’t just decide to leave a health insurance network.

    However that works both ways. Providers have more leverage when there are fewer providers, and there are cases where large providers gobble up small community urgent care type place and then make the ER and charge inflated network charges which is bad for people who don’t have good insurance

    It just seems to me anti trust regulators are just not in a position to intelligently make such decisions and when they do their decisions seem at best arbitrary and at worst inefficient. I have no reason to believe if regulators stepped in and started busting up companies that prices would go down.
     
  16. duggers_dad

    duggers_dad GC Hall of Fame

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    My wife and I destroyed a $50 gift card at Carraba’s. Just lunch. No drinks. No desserts.

    But glad inflation isn’t a thing.
     
  17. dangolegators

    dangolegators GC Hall of Fame

    Apr 26, 2007
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  18. l_boy

    l_boy 5500

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