Posted on 11/14/2015 8:29:53 PM PST by 2ndDivisionVet
A lot of conservative voters — especially those old enough to have lived through the high inflation of the 1970s — are convinced that America is currently suffering from an inflation problem. Sen. Ted Cruz (R-TX) pandered to those voters in a recent Republican presidential debate, blaming the "loose money" policies of the Federal Reserve for raising the prices of various consumer products.
But new data released Friday by the Bureau of Labor Statistics shows that overall, prices aren't going up. At all.
Between September and October, prices actually fell slightly. And over the past year, the inflation rate was exactly 0.0 percent....
(Excerpt) Read more at vox.com ...
Exactly 0.
How...convenient.
I wonder if this Vox clown has been to the grocery store lately. Those prices sure aren’t staying flat, nor have they through the QE1, QE2, QE3, etc.
But I wouldn’t expect a leftist to understand economics.
Energy and food are NOT included in the Federal inflation index. How convenient. The cost of a 1 lb chub of ground turkey I bought under Bush was $0.99...it is now north of $3.00. Idiot.
The only question is whether the writer is stupid enough to believe that, or whether he is just trying to squeeze Baghdad Bob out of a job.
It is as you say, 2 dv,
Ted pandereth not. When gog runs the press, dollar value declines.
When gog sells promissory notes, the rich get richer.
When gog sells debt to China, we buy security, no one fights trillion dollar debtors.
Negative interest looms, and the time warp begins.
Ted stands correct, not corrected. Respectfully
Rab
I just got back from the grocery store. . .I don’t see how anyone can really afford to buy anything after they pay for their groceries. I should say that I never saw so much junk food that people were stashing in their carts. . and more times than not a child(ren) was accompanying them. So much for nutrition and hello ADHD.
And, rents our little town are 150% of what they were 5 years ago. That is a big bite.
A can of Campbell Tomato Soup cost 40 cents the day Obama was sworn into office. Today it is 80 cents. See link below for graph of their soup prices. Also note the graph is on semi-log paper thus the rise does not seem as great.
Inflation is here and it is real despite what Washington DC is telling you.
Excellent post!
Oh, what a good job we do ... rigging the indices!
You might call it "defining inflation downward". Sort of like Pat Moynihan's definition of what the left was doing 20 years ago with moral perversion, "defining deviancy downward".
Libtard saying unemployment is low, too
No inflation? Only by the idiotic measure the government uses which ignores food and energy. Food prices have skyrocketed over the last several years
Data? From the same administration that gives us a 5% unemployment rate with 92,000,000 people out of work? All you have to do is go to the grocery store, or look at your new tax assessment, or how about the new (federal) flood insurance cost? I’m on a fixed income, I have less to spend now than a year ago...everything else is a LIE from this corrupt administration.
What a load. The wife and I were just talking about this.
I bought a pizza, it was in a huge box. The packaging is a gimmick where they sell the box for the same price they did 5 years ago, only the pizza inside is half the size.
I hand a “hungry mans’ TV dinner. They used to pride themselves as having lots of food in them. They are about half what they used to be at the same price.
| Year | 2014 | 2015 | Change |
| 24 Pack Coke | $7.18 | $5.98 | -$1.20 |
| 5 Lb Bag Flour | $1.98 | $1.46 | -$0.52 |
| Chicken Soup | $1.35 | $1.34 | -$0.01 |
| Frozen Pizza | $2.98 | $2.50 | -$0.48 |
| Gallon Gas | $2.75 | $2.21 | -$0.54 |
| KW Hour Elec | 12.72 | 12 | -$0.72 |
| Lb Bacon | $5.48 | $5.24 | -$0.24 |
| Lb Green Grapes | $1.98 | $1.48 | -$0.50 |
| Lb Ground Beef | $5.98 | $5.26 | -$0.72 |
| Lb TasteLikeButter | $2.88 | $2.88 | $0.00 |
| Lg Cornflakes | $2.98 | $2.93 | -$0.05 |
| Loaf Bread | $1.98 | $1.98 | $0.00 |
| New House Buy | $373,500 | $364,100 | -$9,400.00 |
| Tide Soap Powder | $17.97 | $11.76 | -$6.21 |
| Toilet Paper | $3.98 | $3.98 | $0.00 |
We often like to say cheaper prices are better and turn right around and say we ought to get a raise. Fact is that when prices like these go down folks tend to buy less now figuring that they'll be lower tomorrow, or at least their wages will be.
What ever we decide about today's prices, we got to realize that the deflation of the 1930's was a lot worse than the inflation of 1980.
.
Respectfully disagree. My grocery bills, which content pretty much don’t vary that much week to week have gone up slightly the past year. Have you been pricing fresh meat lately? Gas prices have dropped, so your overall premise is correct.
The real concern lately has been the prospect of deflation - falling prices. A little inflation is much preferable to deflation. How can a producer invest in plant, equipment and labor if at the end of the process, the finished good will be worth less than what it cost to produce it? And, looking at the problem from the consumer side, why should a consumer buy something today if he/she believes that he/she can pay less by buying tomorrow?
Deflation - falling prices - is very destructive to an economy. It discourages both production and consumption.
Your grocery bills may very well have gone up over the past say, 2 years, but one problem here is that national inflation policy has to consider everyone's bills on everything along with of course your bills on just groceries. The other problem is that you're not posting any dates and numbers, just your sense of what's happening. That's the key because the misunderstanding here is a number/feelings thing.
Everyone feels that we got runaway inflation so folks that want votes or run a political forum use that feeling to their advantage. Numbers are what they are however and anyone who say, insists the price of oil is up and starts drilling in an under producing field will lose money no matter what everyone feels. Same w/ real estate. Same with anything else w/ falling prices.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
