good example of the different realities of nobel prize winning economists:
Posted on 06/26/2024 10:47:24 AM PDT by SeekAndFind
because econometricians (aka “economists”) are full of it.
That’s because the economists are lying as they are paid to do.
That’s because the economists are lying as they are paid to do.
“That’s because the economists are lying as they are paid to do.”
Exactly my first thought. No elaborate math necessary to understand what’s going on - just stop gaslighting.
Because the economists don’t focus on what consumers actually buy. Cutting the price of caviar by half, because demand has collapsed, is not going to relevant to the consumer or Musk’s consumer trips to space being cut in half.
If you focus commonly buy, it’s a different story.
So, let this straight...
Economists are abstract, take the long-term view and are smart, while consumers are stupid, oblivious to making more money in wages and listen to old Grandpa stories?
Dudes, if you’re not making much, having to pay even a few cents more can really matter. Even the smaller increases in the price of food can bring up survival angst. Show some empathy.
Inflation has gone down a lot through disinflation. It’s gone from about 9.3% to about 3% annually. That’s a lot.
The problem is that people think “inflation going down” means prices should be going down below where they were before the latest round of inflation started. But all inflation is upward movement in prices, even tiny inflation. Inflation at 3% means prices are rising at an annual rate of 3%. This is historically normal.
People think they should get deflation, which they will only get if we have a deep recession or depression. The govt’s insistence on using the FED reserve to try to avoid recessions (which are normal and necessary) leads to deeper recessions so people will eventually get their wish but they won’t like that any better.
This isn’t going to change because the present setup allows politicians to overspend and rake off graft for themselves, families and donors and they aren’t giving that up. Citizens keep electing the same crooks so they will continue to get the same results until they learn to elect people in business. Govt is the biggest business in America, and businessmen and women should be running it.
cuz the 3.3 is a made up number
They continue to change how the CPI is calculated, and miraculously, every change causes the CPI to b lower.
It reminds me of the old book “How to Lie with Statistics”.
Most economists are govt stooges. Economics, as it is taught, is plain nonsense. Want to wreck your business? Employ an economist.
Take a look at items tracked that were removed: food, gas, etc.
The problem is that economists can say the inflation rate is coming down (in certain measures).
However, that does not change, or represent, the CUMULATIVE AFFECT of inflation since Biden took office which is X% on top of X% on top of X% quarter by quarter. That cumulative affect, and it’s result in prices, is significantly more than the “this quarter” inflation rate at present.
Some economists are not necessarily wrong but the proper focus should be on cumulative inflation; that’s what people are feeling.
No, it’s an estimate, which is all that can be expected. An estimate that’s closer than what people simply make up.
Define “ down”.
Down from whare? What baseline?
Idiots.
I use how much I have to pay for sh*t as an indicator of inflation. Using a calculator is a real dumbass Nobel way of doing it.
I don’t think “economists” include food and gasoline in their calculations.
Because civilians just notice inflating, not really the rate. For our bank accounts things getting more expensive are just more expensive. Less more expensive than last year doesn’t really mean anything for us.
I just had a Whopper meal. $12
In CA probably quite more.
The biggest problem is that the food, fast food restaurants, hotels, gas and electricity went up the most.
Poor people do not buy gizmos and fancy stuff, which actually did not go up that much.
So Biden policies are hurting the poor people the most!
Pretty much due to his so called green policies and wasteful spending.
good example of the different realities of nobel prize winning economists:
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