But remember, the dems here tell us higher prices means the economy is growing by leaps and bounds!
Wholesale prices rise by 9.6% in November, fastest pace on record, Thanks Brandon!!!
- Thread starter GhostOfMatchesMalone
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But remember, the dems here tell us higher prices means the economy is growing by leaps and bounds!
I must check with the board's slowest. No doubt you have this all wrong.
One talented economist has a pretty solid take that inflation is more like 15% and it’s not the highest in 40 years, but it’s the highest single year increase ever.
But @BSC911 says it’s all good and we’re all crazy.
Sorry, but anyone that watches Tucker can’t be trusted.
And what exactly is a “talented” economist. People can make up their own inflation numbers now?
Don’t listen to Tucker, listen to his guest, he’s credible on the subject.
He’s not making it up, we’re comparing the inflation estimate to historical numbers. The CPI changed in 1982 and it’s more conservative, if we use apples to apples numbers with 1982 inflation is closer to 15% and the highest single year in recorded history.
I thought you were a numbers guy? It’s embarrassing that this needs to be explained to you like you’re a middle schooler.
I am a numbers guy, but going back to an outdated inflation measure used 40 years ago seems to be a bit disingenuous. If you want to lobby to change it back, please feel free to make your case but I can’t watch Tuckers wormy face. Explain how it has changed.
And LOL at calling it Biden’s inflation. How would Trump have prevented it?
PS. I looked this clown up. He’s a stcockbroker, not an economist. He’s a gold bug with a checkered past. Great sound bites for the gullible Fox viewers though. And of course you take his word as gospel without even understanding what he’s saying.
Investigation[edit]
In October 2020, a joint collaboration by the Australian newspaper The Age, the Australian version of 60 Minutes and The New York Times reported that a team of international investigators were scrutinizing Euro Pacific Bank.[15] On October 18, 2020, the 60 MinutesAustralia episode "Offshore bank at the centre of enormous worldwide tax evasion investigation" said that tax authorities in Australia, the United Kingdom, Canada, America, and the Netherlands believed Euro Pacific Bank was facilitating tax evasion and serious organized crime.Do you even check on these people you label “credible.”
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To be fair, when was the last time we broached a topic here that DIDN'T needed to be carefully explained to our slowest?
No. We'd rather have covid pussies go back to actually working instead of collecting unemployment. That would solve the supply chain issues and stop the .Gov currency printing presses.
I think he got his economics degree from Boston University (where AOC graduated). 🤣
For the millionth time, getting through to the board's slow is completely beyond our reach.
Let's try this. Wife shopped normal HEB yesterday. Outlay was $208. Her biggest spending for grocery shopping never exceeds $150. She commented on bacon going through the roof, something our slow cannot understand.
So are you attacking the idea or the person? The main point is, we measured 15% inflation using one method in the early 80's - which many believe to be the highest inflationary period in modern times. We now use a different method that's showing 8%. If we look back to the original method it's actually higher than the early 80's. This isn't complicated, it makes sense to use apples to apples metrics when determining impact over time.
Furthermore, it's comical you're even arguing about this. If you "win" this debate that means we're seeing the highest inflation in 40 years vs modern history. I think I'd dodge this one and pick a different topic.
Labor participation is in the toilet. Productivity is in the toilet.
Why do you keep going back to these losing arguments?
Oh that's right, you're a professional message board troll...which obviously doesn't pay well. I spoke to Sarah in AR.
Well, you’re talking about someone who PRETENDS he is a business owner on a message board, and has been busted lying multiple times.
One only need to listen to the things he says on business/financial topics to realize he is literally sitting in mommies basement yelling for meatloaf.
Live look:
Nice, copying lame Ghost trolls. A new low for you.
Why is preferring a temporary inflation hike to massive unemployment and the deepest recession in history a losing argument? Its a sound economic opinion, which people without a finance background, like you, don’t seem to understand. It’s understandable, which is why you keep falling for these distorted Fox reports.
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Oh, many now believe it. Link? I’m attacking the guys credibility, yes, since he just seems to be a Fox shill with no economic credentials.
And I’m still waiting on you to explain this “older” measure of inflation and why it is preferable. This should be good.
$208 is the most you’ve ever spent shopping? I’ve spent more than that just on prime steaks. You must be a poor.
Have you figured out the earliest Denver freeze yet?
Don't be surprised in late January, early February the inflation #s start to go down.
Heard on the radio last night that the Biden White house is having the BLS determine CPI a different way, using 2020 numbers (low spending on items like gas and high spending on health related supplies was high), to manipulate so that the inflation rate goes down.
Inflation will only take a short dip or two here and there. Ultimately it will continue to increase nonetheless. There's no future in this kind of effed-up economy. So if you like going broke buying food at the supermarket and paying $4.00 for gas at the pump (and climbing) then have at it. Get Woke, Go Broke!
Oh, and regarding the LPR, it’s improving. This is why it’s so hard to take you seriously. All you do is repeat lame Fix talking points without actually researching what you hear.
The labor force participation rate in the US edged up to 61.8 percent in November of 2021 from 61.6 percent in October, the highest since March 2020. The employment-population ratio increased by 0.4 percentage points to 59.2 percent in November. This measure is up from its low of 51.3 percent in April 2020.source: U.S. Bureau of Labor Statistics
Gas prices are dropping, and will continue to fall.
And I don’t know where you get gas but it was 2.69 when I filled up this week. You might want to shop around.
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That's just it. They will drop and eventually skyrocket afterwhile. This short-term glory trip you're on is akin to the false security of "being vaccinated." It's all good today, and then you suffer big-time tomorrow. Why you can't realize that is a mystery to us all on these boards.
A year ago gas was $1.75 a gallon.
Today it is $3.00 a gallon.
Today we are told Hiden has lowered the price of gas. By people who can't afford $9.95 a month for their Rivals bill.
🤣
Wall Street is trying to compensate for the Pantshitter's debacle.
With inflation at 30-year highs, these income stocks yielding up to 10.2% can help you win the battle against soaring prices
With inflation at 30-year highs, these income stocks yielding up to 10.2% can help you win the battle against soaring prices
A carefully selected dividend stock portfolio can outrun inflation. 3 ideas to consider.
Yes, they do go up and down like any commodity. What is your point?
I’ve explained why before. If you are really interested, I can explain again.
Hint. It has nothing to do with the Keystone pipeline.
WOW!! It has nothing to do with the stoppage of fuel being sent into our country through the pipelines; yet, such is THE reason why you pay or will pay too much at the pump! Government crack bro! It's killing ya!
The "highest since March 2020" is the exact same thing as saying "the highest since the biggest single year decline in recorded history". Seriously, we're at 1973 levels and you're spiking the football.
Do you have trouble remembering to breathe, blink and swallow?
Here's the same chart that you wouldn't look at last time to prove I "did research".
Labor Force Participation Rate (FRED:CIVPART) — Historical Data and Chart — TradingView
Free economic data, indicators & statistics. Labor Force Participation Rate from FRED.
It's not "preferable" it's the same.
You're intentionally missing the entire point.
Again you have two wins here:
1) Inflation is at the highest single year level in 40 years, OR
2) Inflation is at the highest single year level in modern history
I'll concede, just pick one.
Correct. Keystone, which I am in favor of, wouldn’t have been completed for years. In addition, we can still transport that crude by truck or rail.
Secondly, it represents such a small portion of worldwide supply, it doesn’t move the needle on crude oil prices either way. You realize that crude oi, and therefore gasoline, is priced on the world market, don’t you?
The more you know. I’m just trying to keep you from sounding so ignorant when discussing the topic.
Seriously, are you really this dense? It declined to the lowest in history during the Trump administration. It’s now improving under Biden’s term to previous levels.The "highest since March 2020" is the exact same thing as saying "the highest since the biggest single year decline in recorded history". Seriously, we're at 1973 levels and you're spiking the football.
Do you have trouble remembering to breathe, blink and swallow?
Here's the same chart that you wouldn't look at last time to prove I "did research".
Labor Force Participation Rate (FRED:CIVPART) — Historical Data and Chart — TradingView
Free economic data, indicators & statistics. Labor Force Participation Rate from FRED.www.tradingview.com
Did you criticize the LPR levels under Trump? Nope, I didn’t think so.
PS. The country’s demographics are a lot different than they were in 1973 when the Boomers were still in the work force. I guess you’re upset that Boomers are retiring. And yes, I’ve seen that chart many times.
Yet it moved the prices sky-high in just one full year. If anyone has the look of an ignoramus here, it's you.
Explain it to me then. The guy claims that the CPI measure changed, and so is quoting the old inflation measure.
Compare and contrast the two different measures.
I think it is you that is missing the point.
No, no it didn’t. The prices moved because OPEC+ cut supply, and hundreds of US oil and gas companies went bankrupt during the Trump administration. Now that that supply has been taken off the market, the surge in demand during the Biden Boom has created a shortfall,. US supply is now increasing under Biden. So like many other Fox gullible people, you are placing the blame on the wrong person. Keystone is a mere drop in the bucket.
I'm not. Let me try again in really short sentences. I'll bullet point it for you.
1) 1982 is cited as the worst inflationary period in modern history. It used a certain methodology to measure inflation.
2) 2021 is cited as about 2/3rds as high of a single year inflation using a different method, a revised CPI.
3) IF - IF - we used the same CPI/method as we did in 1982, 2021 would be higher.
Conclusion - the reason we don't think inflation is higher in 2021 is because the (always) imperfect set of assumptions used to estimate it changed.
NO ONE is saying one is better or worse than the other - he's saying if we want to compare apples to apples using the same exact metrics then 2021 is higher than 1982.
Sigh. But that just isn’t true. This is why it’s so hard discussing economics with you guys.
WE ARE USING THE SAME INFLATION MEASURE AS WE DID IN 1982
In 1978, the index was revised to reflect the spending patterns based upon the surveys of consumer expenditures conducted in 1972–1974. A new and expanded 85-area sample was selected based on the 1970 Census of Population.
United States Consumer Price Index - Wikipedia
The number this guy is quoting uses an entirely different, non comparable measure. Do you even know what it is?
A couple of questions:
1 - How is he not getting this? LOL Even @kalimgoodman wouldn't be this confused.
2 - Why is a self-proclaimed 'independent voter' always breaking his neck to carry water for the dems?
Jimmy Carter is officially off the hook: He's no longer the biggest economic disaster to ever hit the Oval Office.
And the surge in demand comes as a result of the shortage caused by the Biden adminstration by shutting off the pipelines. Even with the windfall, as you put it, oil companies must increase production to attain the supply they need to serve the consumer at the pump. Yet with that high-level of production comes higher gas prices. Biden wants to use our oil reserves to ease the inflation; however, it still does little in that regard. In the long-run, people will get sick and tired of surging gas prices so much that they will have no other choice but to turn to alternatives, like electric-powered vehicles (ultimate fail). It is a blatant implosion of our energy independence by Biden and climate-change psychopaths. And fools like you rush in because the fake news media complex you watch and listen to has brainwashed you thoroughly.
