US annual inflation declines to 7.1% in November vs. 7.3% expected • Hacker News Board

Re: US annual inflation declines to 7.1% in November vs. 7.3% expected

#161

Post by propogandist » Thu, Dec 15, 2022, 12:16 AM UTC

philjohn wrote: post #160

propogandist wrote: post #155

Earlier quoted context omitted.

what do you mean “profit”? The prices won’t stay suppressed once the SPR drain stops, OPEC has no interest in keeping prices low and the current admin has been cutting US output.

US output has increased since the current admin took over https://www.macrotrends.net/2562/us-crude-oil-production-his...

this is comparable to the admin trying to take credit for all the jobs that were furloughed and lost due to covid shutdowns coming back. This is supply returning to a pre-pandemic state.

The admin has been against net new output and using many tools to push their ‘green new deal’ agenda.

Re: US annual inflation declines to 7.1% in November vs. 7.3% expected

#162

Post by thinkharderdev » Thu, Dec 15, 2022, 12:41 PM UTC

listenallyall wrote: post #123

thinkharderdev wrote: post #90

Earlier quoted context omitted.

We've been below the target inflation rate for 15 years. We haven't had CPI consistently above 2% in the US since the 1980s. I don't see how this can be a "correction"

The 15-year average temperature of a building could easily be within a normal, safe range, but if it is currently on fire, the past 15 years don't really matter, do they?

1. The inflation situation is not "on fire." It's bad for sure but let's not catastrophize here.

2. If a building is on fire, the goal is not to make the building a meat locker for a few months/years to "compensate" for the fire. The goal is to put the fire out and return to a normal temperature.

Re: US annual inflation declines to 7.1% in November vs. 7.3% expected

#163

Post by listenallyall » Thu, Dec 15, 2022, 5:30 PM UTC

thinkharderdev wrote: post #162

listenallyall wrote: post #123

Earlier quoted context omitted.

The 15-year average temperature of a building could easily be within a normal, safe range, but if it is currently on fire, the past 15 years don't really matter, do they?

1. The inflation situation is not "on fire." It's bad for sure but let's not catastrophize here. 2. If a building is on fire, the goal is not to make the building a meat locker for a few months/years to "compensate" for the fire. The goal is to put the fire out and return to a normal temperature.

> the goal is not to make the building a meat locker

Well, you do put out fires with a CO2 file extinguisher blasting at 50 or 60 below zero.

> let's not catastrophize here.

Minus 2 percent inflation would be closer to the "Fed target" than the recent 7-8% we have been experiencing. The idea that many of you are trying to push, that deflation of any kind is a guaranteed financial disaster, that's the hyperbole that ought to be suppressed.