Inflation is coming down fast. Conservatives didn’t get their wish

Author: IwantRooseveltagain

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#1
IwantRooseveltagain
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 “standard measures of underlying inflation are now under 3 percent and falling. Fancier statistical models maintained by the New York Fed tell the same story, and say that underlying inflation has fallen by half since its peak last year.”

“the dramatic fall in underlying inflation this year is clearly real, and corroborated by many sources, notably business surveys. Voters, especially Republicans, may believe or claim to believe that inflation is still rising, but while this belief may be politically important, it’s just wrong”


So sad - the Republicans were praying for inflation.
#2
Sidewalker
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What does "it’s just wrong” have to do with anything?

Conservatives are gonna say it, and the base is gonna believe it, and that's all there is to it.

Republicans were not praying for inflation, they were praying for stupid voters, and their wish came true.
#3
Best.Korea
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Biden economy 😊
#4
Greyparrot
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While the rate is indeed coming down, the prices remain wildly inflated compared to 2016, and that's what every non-cultist will notice.
#5
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@Best.Korea
Well said.
#6
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@Greyparrot
Prices in 2016 were wildly inflated compared to 1950.
#7
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@Best.Korea
>:)

Money printer go brrrrr.
#8
Athias
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Can you explain your references in your own words, and/or explain the trends conveyed in those statistical models? How have you substantiated the integrity of their results? Let's just state that the data analyst in me is intrigued, and curious to find out how well you understand the information you've submitted.


#9
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@Athias
In order to reverse the damage done by Biden, we would have to have an equivilent deflationary period to restore normal dollar values for goods. That probably isn't going to be happening.
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#10
IwantRooseveltagain
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In order to reverse the damage done by Biden, we would have to have an equivilent deflationary period to restore normal dollar values for goods. 
Prices under Trump were wildly higher than prices under Carter. So Trump really destroyed the economy.

We were way better off under the Carter Administration as it relates to prices. Gasoline was 60 cents a gallon under Carter

#11
Athias
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So may I operate under the presumption that as far as you're concerned, "I barely skimmed the references I've submitted, and only provided them to this forum's purview because I saw the titles on my newsfeed"?
#12
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@Greyparrot
In order to reverse the damage done by Biden, we would have to have an equivilent deflationary period to restore normal dollar values for goods. That probably isn't going to be happening.
In order to reverse the damage done by the central banks (which are not subject to the authority of any particular administration including Biden's) the Federal Reserve has to be abolished. A deflationary period is only a temporary stay especially considering fractional reserve banking and monetary policy--namely in the printing of fiat.

#13
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@IwantRooseveltagain
Inflation will always go up...But perhaps less quickly.

Deflation would be good.
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#14
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@zedvictor4
Deflation would be good.
Deflation is terrible for an economy. It causes people to stop buying. Why buy today when the price will be lower tomorrow 

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@Athias
Well yeah, but failing that, a return to 2020 prices and a 2020 value for the dollar would be a huge improvement.
#16
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@iwantroosevelt

Why buy today when the price will be lower tomorrow 
I think government can force people to buy things. That way, they have to buy.
#17
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@Greyparrot
Well yeah, but failing that, a return to 2020 prices and a 2020 value for the dollar would be a huge improvement.
I suppose that's true, but why concede for a satisfactory option in light of the best option?
#18
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Mortgage rates to go up to 8%. How is that reducing inflation when Americans can’t even afford homes. Fucktard. 

Got my mortgage locked in when Trump was POTUS at 2.7999%. 

My home, my family home, is worth nearly $400k, yet I owe less than half. Easy $1300 mortgage. At 8% it’s almost, almost 2.5-3x that much. 

Democrats ruin everything. 
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#19
IwantRooseveltagain
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How is that reducing inflation when Americans can’t even afford homes.
The Federal reserve raised interest rates to combat inflation genius. When interest rates are low, for no good reason, home prices get inflated.

Do you understand the difference between the price of a home and a monthly mortgage payment?

Presidents do not dictate mortgage rates.

Because Trump mismanaged the Covid crisis, the economy was in turmoil. Supply chains got disrupted. Interest rates were kept low to help people weather the crisis.
But if you’re unemployed and living off the government with disability or social security then you don’t care if the unemployment rate is 16%.
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#20
IwantRooseveltagain
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My home, my family home, is worth nearly $400k,
Sucks to be poor. Your house is below average. But thanks to inflation you have some home equity. You should kiss Biden’s ass.
You should be grateful a guy living on a disability check can even get a mortgage. You should thank Democrats for your disability check.

Average home price in the United States: $416,100. The median home sales price is $416,100 as of the second quarter of 2023. That's a 26% increase from 2020, when the median was $329,000.

Home values are way up thanks to Bidenomics.

#21
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@Athias
which are not subject to the authority of any particular administration including Biden's
So they say.


the Federal Reserve has to be abolished
The people can obsolete it themselves by adopting cryptocurrency. "People have the government they deserve" is not literally true but it is true that governments don't exist a certain way without a whole lot of people going with the flow.
#22
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@IwantRooseveltagain
I don't think that you would ever stop people buying.

Why doesn't inflation stop people buying?

Food and fuel prices fluctuate but we cannot continually wait for a reduction in price...We buy out of necessity.

Though I was actually pointing out that slower inflation is not the same as deflation.
#23
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Though I was actually pointing out that slower inflation is not the same as deflation.
I remember when Biden proudly announced that inflation was “Zero” one particular month, as if to say “no more inflation, folks!” In reality,  it meant that the rising rate of inflation had stopped its increase and had tapered off. The press, God bless ‘em, let the President’s naïve interpretation slide and simply restated the proper meaning. Had… “the occupant” said the same thing, he would have been lambasted for his economic ignorance.
#24
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@cristo71
Biden's polls are so bad, it's becoming more and more likely he won't be allowed to run. Hell, he isn't allowed to do a lot of things as it is.
#25
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@Greyparrot
He will run and he will win.
#26
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@cristo71
 ...he would have been lambasted for his economic ignorance...
The equivilent of drinking financial bleach....
#27
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@Best.Korea
Yes, he will win retirement in one of his many homes that Ukraine built for him, while NK forms an alliance with the rest of the world.

#28
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@Greyparrot
Ah yes, the almighty nuclear alliance of Russia-China-North Korea.

I still cant believe Putin wants help from North Korea. Why not from China? 

I mean sure, with money from Russia, North Korea will build a nuclear triad of its own.
#29
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@Greyparrot
*Trump voice* “We got zero inflation, people! I call that a win! So much winning…”
#30
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@cristo71
In a whispered Trumplike voice "and guess what,  I cured Inflation, not a Joke!"