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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. l_boy

    l_boy 5500

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    The Op-Ed is written by Alan S Blinder - who is not part of the wsj staff and is generally considered a moderate to slightly left leaning Keynesian. As I recall he was the author of my Econ 1101 course book in the early/mid eighties.

    Seems like he is saying that both supply issues and stimulus/demand issues played a part - which is what most sane people have been saying from the beginning.

    https://archive.ph/iewIF
     
    Last edited: Sep 30, 2023
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  2. GatorFanCF

    GatorFanCF Premium Member

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    OP Reader's Digest version: "Inflation went up so hard and so fast that the continued increase in prices is not as bad as before." Enjoy!!!

    Reminds me when I was in an industry that delivered poor customer service and I told my (sales) boss we should have a marketing campaign saying
    "We're not as bad as the guys you're using now!!!" He didn't like it.
     
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  3. G8tas

    G8tas GC Hall of Fame

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    You're metaphor isn't so great because in a healthy economy you want a small amount of inflation. So yes, there should be continued price increases but at a much smaller rate. If prices went down that would mean massive unemployment and wage decreases. Is that what you want?
     
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  4. g8trjax

    g8trjax GC Hall of Fame

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    LOL, THFSG rich folks continually throwing the poor and middle class under the bus.
     
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  5. G8tas

    G8tas GC Hall of Fame

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    Are you willing to throw poor people under the bus for deflation?
     
  6. AgingGator

    AgingGator GC Hall of Fame

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    No need to. Bidenomics threw the majority of them under it in 2021.
     
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  7. G8tas

    G8tas GC Hall of Fame

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    Child poverty reached a historic low in 2021 thanks to Biden. Your boys and Manchin are the ones that blew it up
     
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  8. AgingGator

    AgingGator GC Hall of Fame

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    That is one of the most ridiculous and narrow minded posts ever on a board that is famous for ridiculous and narrow minded.

    Time to come clean; Are you on Biden’s Council of Economic Advisors?

    If not, you should call them. They welcome illogical economic thinking.
     
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  9. danmanne65

    danmanne65 GC Hall of Fame

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    My goodness this is good news why are partisans pretending it isn’t.
     
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  10. citygator

    citygator VIP Member

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    Charlotte
    What are you proposing to do differently?
     
  11. citygator

    citygator VIP Member

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    Charlotte
    You have only offered mild insults on this thread. If you have a truly original thought about what should be done differently love to hear it. Otherwise you and several posters are just shouting at the rain. We just had to wait it out.
     
  12. ridgetop

    ridgetop GC Hall of Fame

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    Top of the ridge
    Who is pretending it isn’t good news? All
    I see is someone calling out the fact that it is the narrowest of narrow margins trying to bolster an entire economy. Not only that there were no stats given, no context given. Since 2021 was still feeling MASSIVE CoVid effects I think some context might be good. I believe just last year (2022) there were still MILLIONS of children unaccounted for as far as schooling goes . They have “disappeared” thanks to shutting down schools during CoVid. If someone
    Is going to use child poverty as the thing to prop up this Biden economy maybe there should be some context and data shared? Maybe we should know how those numbers were attained and how they reflect on the economy as a whole.
    But … no
    No one has claimed that lowering child poverty isn’t a good thing.
     
  13. AgingGator

    AgingGator GC Hall of Fame

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    Uh, no one is saying it wasn’t (it was 2021, so it’s not news) good. What they are saying is that the entire economy was damaged and will take the rest of this decade at least to recover.

    Pumping 18 months worth of GDP in liquidity into a supply strained economy???? Great work Trump, Biden, House and Senate.

    Sane people at the time sarcastically asked; “What can go wrong”? Now all of the people who supported this nonsense know what can go wrong.

    And BTW, that child poverty metric that you all are reaching for to rationalize Bidenomics is probably going to get a lot bigger with this inflation.
     
  14. citygator

    citygator VIP Member

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    Charlotte
    Minimal inflation was driven by monetary policy. That is a fatastical whim and dream of the right. Most of the inflation was supply interruptions and corporate profits.
     
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  15. ATLGATORFAN

    ATLGATORFAN Premium Member

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    So a pull back in pricing on everyday goods would be a disaster?
     
  16. danmanne65

    danmanne65 GC Hall of Fame

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    Core inflation is almost back to normal. Two months isn’t enough to say it’s over but it is a sign. The oil companies are screwing us right now. That won’t last.
     
  17. AgingGator

    AgingGator GC Hall of Fame

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    That is bullshit and you know it.

    City,
    You’re smarter than this. Really, this won’t hurt and it will cleanse your soul. Just say; “I was wrong. Biden’s economic policies have been a disaster. I should have know better because I am smart, but I let the morons in the media convince me that this was a good idea”.

    Just say it, we will all forgive and forget.
     
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  18. AgingGator

    AgingGator GC Hall of Fame

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    The oil companies aren’t screwing us, OPEC and our government policies are screwing us.
     
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  19. citygator

    citygator VIP Member

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    Charlotte
    Fair perspective. Props to your memory on textbook authors. Color me impressed on that factoid.
     
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  20. citygator

    citygator VIP Member

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    Charlotte
    So take a minute and think. How did Biden’s monetary policy drive world wide inflation? In fact our inflation was lower than other first world countries which we’ve discussed at lengths. Correlation isn’t causation. There is also tons of data showing that inflation in 2021 was broken out as follows:

    2% normal inflation
    3% profit taking
    3% supply constraints
    1.5% demand stimulus driven
    9%. Total 2021 inflation

    I’ve posted the analysis before:

    How Much Did Supply Constraints Boost U.S. Inflation? - Liberty Street Economics



    Inflation cools in the U.S., remains high in much of the world
     
    Last edited: Sep 30, 2023
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