Not sure. I thought flexible average inflation targeting was a good policy, so I think working to keep inflation under 2% for a while to make the average approach 2% would be good. But that's partly based on believing expectations and credibility are important, and now that the fed has already moved away from the FAIT (or I guess maybe more accurately, moved away from what people thought they meant by that), I'm not sure what should be done. I think probably a quarter or two without changes to see if we are actually at or near an equilibrium?
OT: Shipping Cost Good News
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Well, accurately predicting that inflation will not happen in future is good and should bolster the credibility of those that accurately made those predictions, but I don't think that credibility extends to believing them over actual data from the past. Now that we've actually had a **** ton of inflation, I'm not inclined to believe predictions that we did not.
Whether correct or incorrect, there’s one person in this thread that’s winning. Others appear to be getting foolishly frustrated.
Are you pretending the last 6 months somehow cancels out the last 2 years?
Prices are still abnormally high even given the last 6 months.
Well, this goes to the problem of the English language using the word "inflation" for two very different things: 1) the increase in price of good(s) over time (including due to supply and demand), and 2) the reduction in purchasing power of the currency.
Subbing the proper definition into your sentence we get: "Now that we've actually had a **** ton of increase in price due to supply and demand, I'm not inclined to believe predictions that we did not have a reduction in purchasing power of the currency. "
This isn't entirely right, as there are many factors at play and we can't say we had no reduction in purchasing power of the currency. Bit it's obvious that those saying price changes were due to events affecting supply and demand, not policy, were right. That those events being more pernicious and far reaching in effect than anticipated does not change that events were the driver.
No, just trying to point out the current situation. Inflation now is not what it was 9-12 months ago. But that runs counter to some narratives....
No inflation. No problems. If you have inflation or problems, it's because of Republicans.
If you need any proof, it's in the garage with my Corvette; I'll get it if I get Hunter to find them. If I can't, it's because of Republicans. Everything wrong is some evil Republican Plot.
I'm not answering any questions... again.
Funny timing on this thread. Just saw watched this video. The entire inflation scenario explained by Nobel Prize winning economist Paul Krugman. Quick video, must watch.
Krugman Explains Real Cause of Inflation
Krugman Explains Real Cause of Inflation
Just like the 80 year olds making decisions about net neutrality and other hugely impactful tech decisions. They’ll get those series of tubes figured out.Just remember neither Reps nor Dems evidently knows what "Classified" means and we put them in charge of our economy.
I don't think anyone is saying that prices haven't come down. We are saying they are still high as giraffe V A gi N A and terrible policies have helped contribute to that.
We didn't have productive capacity drop 13%. We did suffer some nasty effects from dumbasses shutting down the economy all over the globe, but mainly we just created tons of money. That's what the data shows and what is obvious. https://fred.stlouisfed.org/series/MANMM101USA189S
There hasn't been anything that would reduce M2 or M3 enough to avoid serious inflation despite the increase in M1. M2 and M3 have been slowly declining since spring 2022, but that doesn't undo the damage.
The argument between you and cantdoitsal is actually the problem. No one has a damn clue how to meet in the middle anymore. Your identities are blurring your common sense.
MARKETS BAD!!!! Booooooo. More gubmint.
NO MARKETS GOOD!!!! Kill them rulz!!!
And no one is saying that inflation didn't happen. It absolutely did and is still happening, but the alternative actions at the time were not advisable given what we knew at the time.
We did in fact have a production drop, due to other countries having a production of raw materials drop as well. Even when our economy got up and running as newer and newer information was learned about Covid and vaccinations were readily available, we were still at a severe supply shortage because we make very few things in this country without relying on other countries for the parts and pieces.
If one thing came out of Covid that will help the US in the future, is to have a better control on your supply chain for items.
Markets are great, but greed does screw some people.
If you don't have months and months to study the market, your best opportunity is to stick with index funds that track the overall economy. You can buy QQQM or SPFFX right now and track almost the entire market in a highly diversified way.
And yet, without doing anything to reduce M2 or M3 "enough"....the inflation went away? It's almost as if.....M2 nor M3 increases were the cause of the inflation!
Have a drink bub, gonna be in a quagmire for quite a while both sides love to point fingers, love to argue, and are always right. NAA - Never - Admit - Anything.
I normally don’t pay attention to them but I need my two fried eggs every morning with my coffee**
You suggested we shouldn’t be working to lower inflation bc it wasn’t has high as it was 6 months ago. That’s dumb. It’s still super high.
You later said “inflation went away”. Inflation hasn’t gone away. It’s high. Just not as high as yesterday.
I can keep going?
Pics on hunters laptop were fake?
What a WEAK "Fact Check". He said it dude. Own it.Lol, and of course your claim is wrong too. Keep it up, you're a hoot!
Al Gore did not ‘predict’ ice caps melting by 2013 but misrepresented data
A 2009 comment by former U.S. vice president Al Gore that the North Pole would be ice-free by summer 2013 has gone viral in tandem with COP26 climate talks in Glasgow. The quote has been used to claim he made bogus predictions. While he did say something similar, the claim misrepresents his...www.reuters.com
"The North Pole will be ice-free in the summer by 2013 because of man-made global warming,” a quote attributed to Gore in a social media post reads (here).
It’s funny you say that. I don’t mean to make light of a staple that some people may depend on, but the eggs thing has been comical to me from the sources that complain to me about it. Apparently everyone is either Rocky Balboa or own a Waffle House because clearly they are going through 100 eggs a week. People that drink $4 Starbucks coffee multiple times a day are somehow going into debt because they are paying .80 a day on eggs vs .40 two months ago.
The fact check is telling you you're wrong bro. Take the L. You're embarrassing yourself.
"While he did say something similar, the claim misrepresents his statement, which was attributed to researchers. Gore has also since cited other predictions of Arctic ice melting at a later date."
Gas is up over 11% annually since December 19
Eggs up well over 30% annually since December 19
CPI is triple what it normally is.
Specifically which items aren’t high right now?
If you think the fed raising raising the target fed fund rate 3 percentage points in 6 months is nothing, then yes.
But of course M2 and M3 “caused” the inflation. That’s what inflation is. Too much money chasing too few goods. We inflated M1 and nothing counteracted it, and inflation slowed right after M3 peaked and started to shrink.
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"While he did say something similar"..... Hmmmm care to define "similar" here? Oh, but wait, it was attributed to researchers? Is Gore responsible for the BS or are the researchers? So Gore also said "later dates"; so it's okay if he justs plugs in any year he chooses at any given time?
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