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U.S. annual inflation rate drops to 8.5%

bls.gov

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Re: U.S. annual inflation rate drops to 8.5%

#831

Post by BuckRogers »

dragonwriter wrote: post #635
BuckRogers wrote: post #611

Earlier quoted context omitted.

It seems that you're largely restating what the comment you replied to was saying. If not, please correct me because I may be missing some nuance that I shouldn't have. In that line of thought though, cutting taxes without cutting spending increases inflation. Because the borrowing of newly printed money doesn't stop. Without 1:1 cuts in spending it's problematic. That's what happened in 2017[0], a ~2.3 trillion doll…

> It seems that you're largely restating what the comment you replied to was saying The comment I responded to said government can cause inflation by destroying money by increasing taxes. That's backwards, destroying money is deflationary.

Oh my bad, I must’ve read the parent incorrectly. Rereading it now, I see my error. Yes I agree with you. It is a pretty simple concept. Any mechanism that reduces the amount of money in circulation has a deflationary effect.

Re: U.S. annual inflation rate drops to 8.5%

#832

Post by pojzon »

scythe wrote: post #561
pojzon wrote: post #304

Earlier quoted context omitted.

How energy production looked like in 1930s vs now. How many charging points do we need now vs # those farms ? What was the quality of cable lanes used ? Did we consider off-grid then ? Whats the estimated cost in comparison to now ? You make it sound simple, but its not. Making that comparison is like comparing apples to oranges.

>How many charging points do we need now vs # those farms ? There are ~150,000 gas stations in the United States. There are 2 million farms, and that's after significant consolidation of agriculture during the Green Revolution. >You make it sound simple, but its not. You are simply posting 'questions' without bothering to do the least bit of research. Looking up those numbers took less than a minute. Climate change d…

We need around 50 million household charges, around 15 million parking spot charges and 150k gas stations.

For me thats “a lot more” than 2 mil farms.

Its realism. Consider a situation when 50 cars have to park at the station to charge back to full. The station is out of service for the next 10h… This is a pretty common situation on highway.

We would need hundreds of those charging spots often with hotels.

Im more excited for Hydrogen cars than EVs. Its a lot cleaner and future proof solution.

Re: U.S. annual inflation rate drops to 8.5%

#833

Post by BurningFrog »

s1artibartfast wrote: post #816
sanderjd wrote: post #814

Earlier quoted context omitted.

I tend to think the NBER definition is a good one: "a significant decline in economic activity that is spread across the economy and that lasts more than a few months"[0]. It is not at all clear that we are already there. The reason employment matters is that it is difficult for businesses to hire if there is a widespread and durable decline in economic activity. [0]: https://www.nber.org/business-cycle-dating-proced…

I think that is a terrible definition. What is "economic activity" ? There was an awful lot of activity on the Titanic when it was sinking. In the same vein, more people working, but making less, and producing less is not a growing economy

"Economic activity" is a basic concept in Economics.

An online dictionary defines it as "the activity of producing, buying, or selling products or services".

Re: U.S. annual inflation rate drops to 8.5%

#834

Post by collegeburner »

LadyCailin wrote: post #775
collegeburner wrote: post #647

Earlier quoted context omitted.

i have literally used 20yr expired medicines before and been fine

Many medicines simply degrade, so yeah, you won’t poison yourself, but then it’s just a placebo.

i have taken 15 year old ipecac after eating something i shouldnt have and can assure you it remained 100% effective.

Re: U.S. annual inflation rate drops to 8.5%

#835

Post by s1artibartfast »

BurningFrog wrote: post #833
s1artibartfast wrote: post #816

Earlier quoted context omitted.

I think that is a terrible definition. What is "economic activity" ? There was an awful lot of activity on the Titanic when it was sinking. In the same vein, more people working, but making less, and producing less is not a growing economy

"Economic activity" is a basic concept in Economics. An online dictionary defines it as "the activity of producing, buying, or selling products or services" .

Which means nothing. Is 10 people collecting acorns and trading beads more economic activity than 9 people making and selling jet planes?

Re: U.S. annual inflation rate drops to 8.5%

#836

Post by s1artibartfast »

doubleunplussed wrote: post #826
s1artibartfast wrote: post #694

Earlier quoted context omitted.

Did prices actually drop or did they just go up more slowly? 8.5% is still a price increase

8.5% is the year-on-year figure. The month-on-month figure was 0.0%, so prices neither grew nor fell on average in July.

Looks like gas went down and other goods went up

Re: U.S. annual inflation rate drops to 8.5%

#837

Post by s1artibartfast »

datlife wrote: post #523
inflationish wrote: post #512

Earlier quoted context omitted.

Just read about the inflation trimming. It is one of the ways the government make inflation to appear lower than it is, making people happy. In US, the 31% of the goods with highest inflation are excluded, but only 24% of the goods with lowest inflation, making the inflation appear much lower than it is.

Where do you get the lists of "goods with highest inflation" and "goods with lowest inflation?

The link at the top of the page is a good start.

Re: U.S. annual inflation rate drops to 8.5%

#838

Post by s1artibartfast »

ghaff wrote: post #712
collegeburner wrote: post #657

Earlier quoted context omitted.

wrong, it's a shitty metric. consumers care about inflation bc it represe ts their quality of life getting more expensive. trimming is the equivalent of saying "lol just downgrade" which is not a good answer. you can't watch people switch their crab and milk for krab and powdered milk then be like "oh we'll just trim that out of inflation lmao". inflation is not supposed to measure change in average cost of necessiti…

And that basket naturally shifts over time as certain goods which have reasonable substitutes rise sharply in price, as technology changes, as tastes change, etc. It would obviously be silly to compare against the same basket of goods as was used in 1970.

There is some truth to it if you want to think about purchasing power and quality of life.

A TV today is not the same as a TV in 1970.

The groceries a family buys today are not the same Goods or quality as someone would have bought in 1920

Re: U.S. annual inflation rate drops to 8.5%

#839

Post by [deleted] »

randomdata wrote: post #813
NotTameAntelope wrote: post #810

Earlier quoted context omitted.

Quoted post unavailable.

What is it that you thought? Your comment is unclear. That you, deep down, knew your appeal to emotion would fail? Being from the West, my uneducated, tribalist-driven opinion says that Russia is not justified. But, again, not my area of expertise and not a subject I have much interest in. I do, however, enjoy the subject of language which is why I am participating in this conversation about the use of language. Let'…

[deleted]

Re: U.S. annual inflation rate drops to 8.5%

#840

Post by AlwaysRock »

88913527 wrote: post #461
AlwaysRock wrote: post #405

Earlier quoted context omitted.

So I know I can make 65 an hour with side jobs. I've got a few side gigs where I can set my own schedule and work those hours at any time. I could probably push higher if I wanted (75-100 an hour). When I need to pad my savings I cut some costs but mostly I just work extra hours in side gigs. I couldnt imagine its worth going to multiple grocery stores to compare prices. Shop at 1 store, pay more for some items, work…

Not everyone is interested in performing side jobs, and comparing weekly ads and sales prices can be a 'fun' optimization problem. It's a more productive use of time than whatever the alternative would've been (social media, watching television, etc). Moderately large grocery stores have real web apps these days so you can get pricing data and track it over time. Combine that with the personalized deals / digital cou…

That is fair. I don't enjoy being inside stores all that much so I didnt consider an enjoyment factor.
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