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Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

theguardian.com

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Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#31

Post by Grakel »

aardvarkr wrote: post #29
Grakel wrote: post #3

Anyone who didn't get a 20% raise this year lost money. As the fed pumped cash, the stock market gains kept the rich from feeling the inflation that is being handed to everybody else with a bow on it. For months everyone has naysayed the idea that money printing would have a negative effect, now just Google "inflation" news articles.

LOL now this is fearmongering at it's best (worst?). You don't have to count the number of articles to measure inflation (surely this is a joke, right?), instead you can go straight to the source to see that prices rose 0.9% in June and 0.5% in July. It's at 5.3% for the year[0]. Come on @Grakel, do better [0] https://abcnews.go.com/US/wireStory/us-consumer-prices-rose-...

Ahh yes, those government published facts, love it.

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#32

Post by gruez »

tomc1985 wrote: post #28
gruez wrote: post #4

Earlier quoted context omitted.

>Anyone who didn't get a 20% raise this year lost money. but inflation (as measured by CPI) isn't anywhere close to 20%?

I have tons of anecdata suggesting worse… I just filled up a propane tank, 3lbs of fuel was almost $10 whereas a year ago it was $5-$6 The price of a California burrito most places here is almost $10, they were closer to $7/$8 before pandemic started spiking beef prices It’s getting harder and harder to keep the bill at Costco under $100 Uber/Lyft rides that used to be $10 cost $15-$20 during non-surge hours And so o…

> I have tons of anecdata suggesting worse…

And that's flawed due to https://en.wikipedia.org/wiki/Availability_heuristic

[thing] increases in price: "omg inflation!"

[thing stays the same]: "meh"

result? "omg inflation!"

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#33

Post by lend000 »

Retric wrote: post #10
Grakel wrote: post #7

Earlier quoted context omitted.

20% of dollars in circulation were printed in 2020 and the inflation is filtering down. Also inflation statistics are intentionally blurred. Look at housing prices or other individual metrics.

M2 money supply doesn’t correspond very closely with inflation. https://www.longtermtrends.net/m2-money-supply-vs-inflation/

Your link doesn't support your conclusion. Growth in M2 clearly precedes increases in inflation by 1-3 years.

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#34

Post by s5300 »

tomc1985 wrote: post #28
gruez wrote: post #4

Earlier quoted context omitted.

>Anyone who didn't get a 20% raise this year lost money. but inflation (as measured by CPI) isn't anywhere close to 20%?

I have tons of anecdata suggesting worse… I just filled up a propane tank, 3lbs of fuel was almost $10 whereas a year ago it was $5-$6 The price of a California burrito most places here is almost $10, they were closer to $7/$8 before pandemic started spiking beef prices It’s getting harder and harder to keep the bill at Costco under $100 Uber/Lyft rides that used to be $10 cost $15-$20 during non-surge hours And so o…

The Cali Burrito increase has been insane.

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#35

Post by tayo42 »

tomc1985 wrote: post #28
gruez wrote: post #4

Earlier quoted context omitted.

>Anyone who didn't get a 20% raise this year lost money. but inflation (as measured by CPI) isn't anywhere close to 20%?

I have tons of anecdata suggesting worse… I just filled up a propane tank, 3lbs of fuel was almost $10 whereas a year ago it was $5-$6 The price of a California burrito most places here is almost $10, they were closer to $7/$8 before pandemic started spiking beef prices It’s getting harder and harder to keep the bill at Costco under $100 Uber/Lyft rides that used to be $10 cost $15-$20 during non-surge hours And so o…

Why is that inflation and not things like supply chain problems or availability?

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#36

Post by whimsicalism »

systemvoltage wrote: post #22
Grakel wrote: post #3

Anyone who didn't get a 20% raise this year lost money. As the fed pumped cash, the stock market gains kept the rich from feeling the inflation that is being handed to everybody else with a bow on it. For months everyone has naysayed the idea that money printing would have a negative effect, now just Google "inflation" news articles.

I was repeatedly downvoted for pointing this out on HN. In fact, ridiculed with "Good ol' trickle up economics" snark.

It's because the "secret inflation" theory is incredibly prevalent in tech-y circles (something around bitcoin maybe) without any real evidence to back it up - except "something something asset inflation"

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#37

Post by DudeInBasement »

anigbrowl wrote: post #8
gruez wrote: post #4

Earlier quoted context omitted.

>Anyone who didn't get a 20% raise this year lost money. but inflation (as measured by CPI) isn't anywhere close to 20%?

Who needs facts when they have feelings?

I identify as inflation

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#38

Post by tomc1985 »

gruez wrote: post #32
tomc1985 wrote: post #28

Earlier quoted context omitted.

I have tons of anecdata suggesting worse… I just filled up a propane tank, 3lbs of fuel was almost $10 whereas a year ago it was $5-$6 The price of a California burrito most places here is almost $10, they were closer to $7/$8 before pandemic started spiking beef prices It’s getting harder and harder to keep the bill at Costco under $100 Uber/Lyft rides that used to be $10 cost $15-$20 during non-surge hours And so o…

> I have tons of anecdata suggesting worse… And that's flawed due to https://en.wikipedia.org/wiki/Availability_heuristic [thing] increases in price: "omg inflation!" [thing stays the same]: "meh" result? "omg inflation!"

But… that is inflation. Prices are going up. Such is the anecdata?

Is this effect global? Who knows, it’s anecdata

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#39

Post by gruez »

tayo42 wrote: post #35
tomc1985 wrote: post #28

Earlier quoted context omitted.

I have tons of anecdata suggesting worse… I just filled up a propane tank, 3lbs of fuel was almost $10 whereas a year ago it was $5-$6 The price of a California burrito most places here is almost $10, they were closer to $7/$8 before pandemic started spiking beef prices It’s getting harder and harder to keep the bill at Costco under $100 Uber/Lyft rides that used to be $10 cost $15-$20 during non-surge hours And so o…

Why is that inflation and not things like supply chain problems or availability?

>supply chain problems or availability

If supply chain problems or availability cause prices to go up, that's still inflation. They might call it transitory inflation or whatever, but they won't say "well that's just supply chain problems so we won't count it for this month".

Re: Nearly half of American workers don’t earn enough to afford a one-bedroom (cont)

#40

Post by systemvoltage »

whimsicalism wrote: post #36
systemvoltage wrote: post #22

Earlier quoted context omitted.

I was repeatedly downvoted for pointing this out on HN. In fact, ridiculed with "Good ol' trickle up economics" snark.

It's because the "secret inflation" theory is incredibly prevalent in tech-y circles (something around bitcoin maybe) without any real evidence to back it up - except "something something asset inflation"

Inflation is a complex metric. I don't there is a meaningful way to summarize it.
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