Inflation will drop 'significantly' next year, Goldman Sachs economists forecast

[RayGravesGhost]

It's quite welcome after watching it go up for 13 of the first 17 months that Hiden was in office.

Inflation rate when Hiden took office: 1.4%

Current inflation rate: 7.1%

Facts matter.

Yes facts matter....

We were in the middle of a pandemic and distribution of the vaccine was completely screwed up by the trump administration

Inflation was non-existent and all trump had to do to achieve that was to threaten the public health of the country

 

[RayGravesGhost]

Anecdotally I can absolutely say that poor people seem to be poorer today than they were 2 years ago. However, I feared that they would be in even worse shape.

https://www.cnn.com/2020/12/21/us/hunger-in-america-florida-food-bank/index.html

Hundreds of Floridians line up for free groceries as growing demand, decreasing supply pinches food banks​

By Rosa Flores, Denise Royal and Sara Weisfeldt, CNN
Published 9:34 AM EST, Mon December 21, 2020

Boynton Beach, FloridaCNN — Deborah Hightower cried and her body shook with emotion as she looked through her windshield at more than 100 cars waiting in line for free food in the mall parking lot.

Most of the people had arrived in the pre-dawn hours to receive the offerings from a local food bank. Some of the drivers and passengers slept in their cars.

“(They) have got to be desperate to come sit for almost five hours to get a box of food for their family,” Hightower said.

 

[BamaFan1137]

https://www.cnn.com/2020/12/21/us/hunger-in-america-florida-food-bank/index.html

Hundreds of Floridians line up for free groceries as growing demand, decreasing supply pinches food banks​

By Rosa Flores, Denise Royal and Sara Weisfeldt, CNN
Published 9:34 AM EST, Mon December 21, 2020

Boynton Beach, FloridaCNN — Deborah Hightower cried and her body shook with emotion as she looked through her windshield at more than 100 cars waiting in line for free food in the mall parking lot.

Most of the people had arrived in the pre-dawn hours to receive the offerings from a local food bank. Some of the drivers and passengers slept in their cars.

“(They) have got to be desperate to come sit for almost five hours to get a box of food for their family,” Hightower said.

Meaning you agree, right?

I'm not trying to be thick...I'm just not used to this yet. 😉😂

 

[RayGravesGhost]

Meaning you agree, right?

I'm not trying to be thick...I'm just not used to this yet. 😉😂

That article was 2 years ago...people were doing WORSE by A LOT

 

[BamaFan1137]

That article was 2 years ago...people were doing WORSE by A LOT

Availability was an issue 2 years ago. Today it's inflation. Poor people are poorer because their bills are outpacing their paychecks.

Our grocery bills alone have gone up $7k per year for my family over the last 12 months. That's not a guess...my OCD ass tracks that sort of thing. And again, that's just my groceries. And if anything, we're getting less, not more, grocery wise.

We're fortunate, we can absorb that and we're OK. Most aren't doing as well. People are making hard choices.
I have co-workers who are struggling to feed their families.

 

[BamaFan1137]

Availability was an issue 2 years ago. Today it's inflation. Poor people are poorer because their bills are outpacing their paychecks.

Our grocery bills alone have gone up $7k per year for my family over the last 12 months. That's not a guess...my OCD ass tracks that sort of thing. And again, that's just my groceries. And if anything, we're getting less, not more, grocery wise.

We're fortunate, we can absorb that and we're OK. Most aren't doing as well. People are making hard choices.
I have co-workers who are struggling to feed their families.

Edit...that should read $8k per year. I fat fingered editing the 7 instead of the 8.

 

[RayGravesGhost]

Availability was an issue 2 years ago. Today it's inflation. Poor people are poorer because their bills are outpacing their paychecks.

Our grocery bills alone have gone up $7k per year for my family over the last 12 months. That's not a guess...my OCD ass tracks that sort of thing. And again, that's just my groceries. And if anything, we're getting less, not more, grocery wise.

We're fortunate, we can absorb that and we're OK. Most aren't doing as well. People are making hard choices.
I have co-workers who are struggling to feed their families.

Being out of work was the issue...
Lots of formerly middle class people were out of work and couldn't pay their bills

Biden has recovered the jobs lost under trump and wages have gone up

That's why the child tax credit, school loan reform, prescription drug pricing, etc are all on the table


2 years ago was NOT an availability issue....food lines don't form from a scarcity issue

That comes from unemployment

 

[BamaFan1137]

Being out of work was the issue...
Lots of formerly middle class people were out of work and couldn't pay their bills

Biden has recovered the jobs lost under trump and wages have gone up

That's why the child tax credit, school loan reform, prescription drug pricing, etc are all on the table


2 years ago was NOT an availability issue....food lines don't form from a scarcity issue

That comes from unemployment

Disagree on all accounts. Most of those people were being paid not to work. I paid my employees not to work for example.

Availability was a HUGE issue.

As an example, my coworkers are depending on a $9,900 a year TEMPORARY wage increase to combat inflation. That's not covering their actual cost of living increase. When you live paycheck to paycheck, as most cops do, a $3k-4k per year gap is a HUGE issue.

 

[RayGravesGhost]

Disagree on all accounts. Most of those people were being paid not to work. I paid my employees not to work for example.

Availability was a HUGE issue.

As an example, my coworkers are depending on a $9,900 a year TEMPORARY wage increase to combat inflation. That's not covering their actual cost of living increase. When you live paycheck to paycheck, as most cops do, a $3k-4k per year gap is a HUGE issue.

Unemployment hit 16.8% and you're claiming that was mostly people being paid not to work? 🤣

 

[BSC911]

Your ridiculous nature is my favorite thing about you. 😂

My favorite is how little you contribute other than lame troll attempts. At least mine are creative.

You rarely have anything interesting to say.

 

[BSC911]

22 million unemployed usually results in low inflation rates. Congrats?

Strong economic growth results in higher inflation. Econ 101.

 

[BamaFan1137]

Unemployment hit 16.8% and you're claiming that was mostly people being paid not to work? 🤣

People who weren't getting paid not to work by their employers were getting paid not to work by the government.

Do you not remember the increased unemployment benefits in terms of the actual benefit itself and the term of said benefit? That's your 16.8% man...good Lord.

Employers couldn't even get unemployed people to take a job man. That's still an issue but it was much worse then.

 

[BamaFan1137]

My favorite is how little you contribute other than lame troll attempts.

Ironic considering the post that I was responding to. 😂

Waiting for Bamafan to ignore this news while continuing his lame sock account troll. I guess that International Studies didn’t include economics.

Self owns are the best owns imo. Damn man...this is bad even by YOUR standards. 😂

Since insults aren't allowed, I'll just say this was silly, lol.

 

[BamaFan1137]

22 million unemployed usually results in low inflation rates. Congrats?

Strong economic growth results in higher inflation. Econ 101.

Supply side issues also contribute to inflation, right?

So a lack of production could also be a factor, no? Derp.

 

[RayGravesGhost]

People who weren't getting paid not to work by their employers were getting paid not to work by the government.

Do you not remember the increased unemployment benefits in terms of the actual benefit itself and the term of said benefit? That's your 16.8% man...good Lord.

Employers couldn't even get unemployed people to take a job man. That's still an issue but it was much worse then.

Do you have a clue what unemployment benefits were in relation to a recipient pre-covid salary?

Employers haven't been able to find enough workers now...
That's part of why we're raising interest rates...tight labor markets

May of 2020 unemployment was 16.8% under trump

There was a moratorium on evictions and there were so many poor people that food lines were all over the country

Now we have unemployment at 3.5%, no food lines, and 8% price inflation against 5% wage increases

And you think things are worse now? 🤣

 

[BamaFan1137]

Do you have a clue what unemployment benefits were in relation to a recipient pre-covid salary?

Employers haven't been able to find enough workers now...
That's part of why we're raising interest rates...tight labor markets

May of 2020 unemployment was 16.8% under trump

There was a moratorium on evictions and there were so many poor people that food lines were all over the country

Now we have unemployment at 3.5%, no food lines, and 8% price inflation against 5% wage increases

And you think things are worse now? 🤣

So back to ignore I guess. We made it a few hours...that's something.

 

[RayGravesGhost]

The facts are the majority of Americans don't agree with you hence the midterm results you got for running on inflation fears and misrepresentations of trump's tenure

This most recent election became referendum on inflation, crime, & the Big Lie

republicans lost big

 

[BSC911]

Supply side issues also contribute to inflation, right?

So a lack of production could also be a factor, no? Derp.

Of course. the O&G industry shutting down in 2020 certainly contributed. As has China shutting down supply. And easy money during the pandemic

But I guess that is all Biden’s fault. Derp indeed.

Let me know when you have something intelligent to contribute.

 

[nail1988]

Reality of the Biden economic disaster

Nearly 70% of Americans struggling to pay grocery bills, survey finds​

More than two-thirds of Americans are having a hard time affording groceries as food costs continue to soar, according to new data.

Retail technology platform Swiftly reported Wednesday that 69% of shoppers say they are struggling to pay their grocery bills after months of persistently sky-high inflation, and 83% currently rely on some form of coupons or loyalty program to put food on the table, according to its True Cost of a Grocery Shop survey.

Nearly 70% of Americans struggling to pay grocery bills, survey finds

A recent survey conducted by retail technology platform Swiftly found that 69% of Americans are struggling to afford groceries as food inflation soars.

www.yahoo.com

 

[GhostOfMatchesMalone]

Yes facts matter....

We were in the middle of a pandemic and distribution of the vaccine was completely screwed up by the trump administration

Inflation was non-existent and all trump had to do to achieve that was to threaten the public health of the country

Inflation was 2.5 in January 2020 and 2.3 in February 2020.

Before the pandemic.

Facts matter.

 

[gatordad3]

Inflation was 2.5 in January 2020 and 2.3 in February 2020.

Before the pLandemic.

Facts matter.

FIFY.
You need to brush up on your spelling, Primo!

 

[RayGravesGhost]

Inflation was 2.5 in January 2020 and 2.3 in February 2020.

Before the pandemic.

Facts matter.

Yes, Jan & Feb were pre-pandemic...December of 2020 was not

bama said poor people were better off 2 years ago
2 years ago was December of 2020...vaccine was just developed and not cleared for general use

So as usual malone has got it wrong...we were in the middle of the pandemic & vaccine distribution was screwed up by the trump administration

Inflation was 1.4% in December of 2020 BECAUSE of the pandemic

 

[GhostOfMatchesMalone]

Inflation was 1.4% in December of 2020 BECAUSE of the pandemic

And the inflation rate being 9.1% in June 2022 was because of Hiden.

 

[RayGravesGhost]

trump's artificial low interest rate policy, quantitative easing policy, unfunded tax cut, running record deficits all contributed to the inflation we're experiencing now

Inflation is a lagging indicator...its inputs occur BEFORE they show up in the number

trump occurred beforehand and injected massive liquidity into the economy in September of 2019

He also openly lobbied for Jerome Powell to lower interest rates to keep the asset bubble going before the 2020 election

 

[bradleygator]

Forecasts are for a mild recession at best...

I don't think anyone is forecasting a resumption of QE
We'll have added 5% to Fed Funds

Plenty of other ways to stimulate the economy if need be than buying up bonds

Forecasts? From who? The same geniuses that projected inflation peaking at 2.5 percent. Cmon man, you listen to these people?

 

[RayGravesGhost]

Forecasts? From who? The same geniuses that projected inflation peaking at 2.5 percent. Cmon man, you listen to these people?

Who predicted inflation would "peak" at 2.5% and when?

 

[bradleygator]

trump's artificial low interest rate policy, quantitative easing policy, unfunded tax cut, running record deficits all contributed to the inflation we're experiencing now

Inflation is a lagging indicator...its inputs occur BEFORE they show up in the number

trump occurred beforehand and injected massive liquidity into the economy in September of 2019

He also openly lobbied for Jerome Powell to lower interest rates to keep the asset bubble going before the 2020 election

So the US debt went to $30 trillion in 4 years? Interest rates have been zero/negative for 15 years.

 

[bradleygator]

The problem currently is we’re trying to act like this is demand driven inflation. It’s not, it’s a lack of supply, particularly in energy, which obviously flows to everything. So the answer should be investment into supply, which also means you don’t have to fire everybody and foreclose on their homes. Instead, they’re acting like they have to crush the job and housing markets to drive demand down. And for some reason they’re stating openly that they need more people to get fired and to be upside down on their mortgages and people are deferring to these people even though they’re the same assholes who have got everything wrong for 30 years and driven us into this mess in the first place.

 

[bradleygator]

Who predicted inflation would "peak" at 2.5% and when?

Are you serious? Jerome Powell for starters. Everyone. Do you know what’s going on?

 

[bradleygator]

Here you go man. You should read a little bit if you’re going to be trying to talk so much on these boards. You come off as very unserious.

 

[RayGravesGhost]

Are you serious? Jerome Powell for starters. Everyone. Do you know what’s going on?

Citation please.

 

[nail1988]

Are you serious? Jerome Powell for starters. Everyone. Do you know what’s going on?

@NavigatorII 😭😭😭😭

putting @bradleygator on the milk carton worked. He's back with a vengeance working over Ray Ray @RayGravesGhost.

welcome back BG

 

[bradleygator]

Citation please.

I posted it right above you.

 

[RayGravesGhost]

So the US debt went to $30 trillion in 4 years? Interest rates have been zero/negative for 15 years.

No it went from 21 to 28 trillion in 4 years under trump...and?

That's just more proof that inflation is a laggard to the causes of inflation

 

[RayGravesGhost]

The problem currently is we’re trying to act like this is demand driven inflation. It’s not, it’s a lack of supply, particularly in energy, which obviously flows to everything. So the answer should be investment into supply, which also means you don’t have to fire everybody and foreclose on their homes. Instead, they’re acting like they have to crush the job and housing markets to drive demand down. And for some reason they’re stating openly that they need more people to get fired and to be upside down on their mortgages and people are deferring to these people even though they’re the same assholes who have got everything wrong for 30 years and driven us into this mess in the first place.

Was it a sudden lack of supply that drove housing prices through the roof?

It is primarily demand driven because we've seen the evidence in all asset pricing driven to record highs primarily by an extended period of cheap money.

I guess you've forgotten that it was trump insisting on continued low interest rates to help his election chances to the point of firing Powell

Crush the job market? I remember when 5% was considered full employment

The housing market was/is a bubble...unsustainable and not even a good market for home ownership
I don't why you would want those dynamics to continue

 

[nail1988]

 

[GhostOfMatchesMalone]

trump's artificial low interest rate policy, quantitative easing policy, unfunded tax cut, running record deficits all contributed to the inflation we're experiencing now

Ah so now it's our President Trump's fault that Hiden is a disaster?

If that were true, the dems wouldn't have lost ground in both the House and Senate.

 

[GhostOfMatchesMalone]

No it went from 21 to 28 trillion in 4 years under trump...and?

That's just more proof that inflation is a laggard to the causes of inflation

LOL ray ray thinks he's arguing with a Trump supporter. Hilarious how they always fall back to their talking points when asked to critically defend their positions.

 

[NavigatorII]

Was it a sudden lack of supply that drove housing prices through the roof?

It is primarily demand driven because we've seen the evidence in all asset pricing driven to record highs primarily by an extended period of cheap money.

I guess you've forgotten that it was trump insisting on continued low interest rates to help his election chances to the point of firing Powell

Crush the job market? I remember when 5% was considered full employment

The housing market was/is a bubble...unsustainable and not even a good market for home ownership
I don't why you would want those dynamics to continue

The housing market demand shot up for that and another ugly but little talked about truth. Unnatural population explosion due to our border being overrun. The real estate market was only hot in certain states, like CA and Florida. CA due to lack of new permitting, Florida because, well, it's Florida and people moved here in droves. The Plandemic made things even WORSE. More people fleeing tyrannical rule, PLUS the supply side driven lack of materials to build.
Douchebag Whittmer actually banned fishing and hunting during the Plandemic. The RE market was completely detached from the CPI. Don't bring that lame game in here, it will get swatted into the stands.

 

[BSC911]

It’s always easy to go back and see where economists are wrong. It’s a forecast, so obviously things can change. Powell is now actually predicting higher inflation next year than the market is. These are all just guesses. Educated guesses but still just guesses.

No doubt the Fed screwed up by not not raising interest rates sooner. Even they admit that.