Posted on 10/14/2023 6:44:43 AM PDT by ConservativeInPA
Paul Krugman was widely trolled on Thursday for saying that if you just ignore food, energy, housing, and used cars — unavoidable costs for many Americans — then the period of surging prices has passed.
"The war on inflation is over," he posted on X, attaching a chart showing the Consumer Price Index (CPI) dropped from 7% last summer to below 2% in September if you exclude those four items. "We won, at very little cost."
(Excerpt) Read more at businessinsider.com ...
“The war on inflation is over” because the Regime is surrendering to it? The necessary reduction in spending is being fought against pretty hard which indicates we have not only given up but have taken the side of the Inflation enemy.
He trivialized the Nobel Prize when he go it, at least the one for Economics. He made it a joke and the committee had a good laugh.
When long term interest begin to RISE as the Fed keeps hiking its overnight rate, that is NOT a sign that inflation is falling, When Greenspan was at the Fed at the end of the 1990s & he had his Funds rate over 6%, he called it a “condundrum” that long-term rates were falling,…..but that was when there was a budget surplus & inflation was FALLING. Long term rate now have risen to the point where the yield curve has flattened from steep inversion. Markets do NOT believe the battle over inflation is won.
“What about gasoline?”
From what I saw it was 10 car deep lines 30 + minute wait to save 20 cents a gallon at Sam’s Club yesterday. Ahh the joy of being able to get the price down to $5.35 a gallon Kalifornia. It’s never been better Krugman, FOAD!
When is the last time you could buy a tiny bit of colored sugar for a nickel? If it were to be auctioned the reserve price would be a dime.
The war on inflation is over,” he posted on X, attaching a chart showing the Consumer Price Index (CPI) dropped from 7% last summer to below 2% in September if you exclude those four items. “
What is the number when these 4 items are added in?
Whenever you put a qualifier in front of the word “inflation” you are dissembling.
Most places they already have. Even here we are starting to experience people living in their cars who hold jobs that 2 years ago enabled them to rent apartments or even houses.
No bell in dat belfry, but more than a few bats.
At 5% inflation, prices will have doubled in 14 years (rule of 72). We’re already three years into that, and then some. Not a very good long-term outlook.
Out of curiosity, I looked up some rents in my old home town in NJ. $2K/month for a one-bedroom plus utilities.
If we had eggs, we could have bacon and eggs - - if we had bacon...
“ignore food, energy, housing, and used cars”
Food? Let ‘em eat bugs.
Energy? Sooolar! Winnnd! Hot air of politicians!
Housing? Homeless is the new normal.
Used cars? I suppose there are some used EVs around. The ones with the windshield smashed in by the last owner. I wonder why they do that./s
I stand corrected!
Was he being sarcastic?
take the price to buy something and divide it by 100 and that should be what it costs to rent it monthly.
If the rent is much lower than that number you can be sure the rent will go up in the future.
He is till writing his cr#p?
No. Krugman is a leftist piece of shit. He’s an economic moron that was given a Nobel prize by leftist morons. They really are economic idiots. They believe Keynesian economics and Modern Monetary Theory work despite failure after failure after implementing policies for both. The simple acid test is that Krugman is in the employ of the New York Times. You can be assured Krugman is not joking and he seriously wants the destruction of America.
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