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.
Vox some code for Lie?
No inflation? Does this guy provide for his family? My bills keep going up, up, up. My electric bill now almost matches my mortgage payment. Groceries eat me out of house and home.
The government’s inflation numbers parallel their phony unemployment numbers.
That’s right up there with 11 million illegals and the deficit coming to a screeching halt before it hit the debt limit.
Oh yea sure! My health ins is going up over 100 bucks a month this year again! That is over 1200 bucks each year for the last 3 years. I haven’t got a 3600+ dollars a year raise yet!
Oops. A rare double post from 2DV. Time to ring up the Admin.
Really? Where does this guy live? I could name all the things that are inflated in price from just a year ago. My grocery costs have risen, even though we have cut back in what we eat and snack stuff.
It’s food that has inflated! I’m sick buying cheap filler hamburger from wal-mart!!! Thankfully, I’ve got an alternative now, but still... it just shouldn’t be that high!
Those who define the calculations get the inflation rate they desire.
Exactly. I forgot what the inflation indicators are now, but they are way different than what they were in the ‘70s. I’m guessing someone will get around to educating me. Again.
The former Goldman Sachs chief economist gave a speech explaining the economy's progress and the Fed's successes, but come question time the main thing the crowd wanted to know was why they're paying so much more for food and gas. Keep in mind the Fed doesn't think food and gas prices matter to its policy calculations because they aren't part of "core" inflation.
So Mr. Dudley tried to explain that other prices are falling. "Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," he said. "You have to look at the prices of all things."
Reuters reports that this "prompted guffaws and widespread murmuring from the audience," with someone quipping, "I can't eat an iPad." Another attendee asked, "When was the last time, sir, that you went grocery shopping?"
In a healthy, growing economy prices naturally fall as the surfeit of goods and services rises.
The former Goldman Sachs chief economist gave a speech explaining the economy's progress and the Fed's successes, but come question time the main thing the crowd wanted to know was why they're paying so much more for food and gas. Keep in mind the Fed doesn't think food and gas prices matter to its policy calculations because they aren't part of "core" inflation.
So Mr. Dudley tried to explain that other prices are falling. "Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," he said. "You have to look at the prices of all things."
Reuters reports that this "prompted guffaws and widespread murmuring from the audience," with someone quipping, "I can't eat an iPad." Another attendee asked, "When was the last time, sir, that you went grocery shopping?"
In a healthy, growing economy prices naturally fall as the surfeit of goods and services rises.
Are these the same guys who tell us that unemployment is 5%?
Tunafish cans went from six ounces to five, everything is smaller and either the same price or more expensive.
No point looking for the golden calf, they ground that sucker up and are selling it by the pound.
Eggs are going for gold rush prices, and produce (always expensive at this latitude) is off the chart.
Canned veggies used to come in 16 ounce cans, now 14.5, and even the toilet paper is narrower by at least 1/4 inch. As for how much you get, they keep messing with the size of the roll, the size of the cardboard tube (if present), the number of sheets, etc, so it is hard to say, but it definitely isn't as wide.
Yes, no inflation unless you pay for goods and services. Other than that...
What is that, may I ask?
In 1978 I paid $5900.00 including TTL and delivery for a brand spanking new Z28 You could probably add at least $30,000 to that today for the equivalent car.
Yeah no inflation indeed
The question I expect to hear (as every election) is are you better off now than you were 4 or 8 years ago.
It is a fact that our standard of living has declined. Taxes, groceries, utilities, and vehicles have all increased in prices while wages have remained very stagnant.
Does this clown never go to the grocery store?
No inflation my hiney.
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