Powell Says Stimulus Package Unlikely to Create Too Much Inflation

Breitbart ^ | 03/23/2021 | John Carney

[Revel]

LOL

[webheart]

That is not inflation, that is a fluctuation in oil prices that ebb and flow based on supply which is constrained by government regulation.

[silverleaf]

Since inauguration day, gas here is up by $1 a gallon
I consider this “ inflation”

[ridesthemiles]

WHO decides what is “TOO MUCH” of anything???

[semimojo]

Look at the gas pump..

It's back to where it was in May 2019.

Gas is a terrible way to gauge overall inflation.

[griswold3]

“Progressives” cannot do math.

[Organic Panic]

i remember when 1 pound bags went to 14 ounce bags. Now, all the bags are 12 ounces. And that is a new thing. Gasoline is up over $1.10 per gallon here. I haven’t had to buy business supplies yet but I imagine it’s all up as well. YAY BIDEN. great job.

[BatGuano]

Fire that idiot before he says another word!
“Too much inflation?”
I am looking at my situation and worry about the fact that
the government largesse has threatened the value of my IRA and future pension distributions. Yes, I am fortunate to have these plus Social Security but 10 years from now what will that income be worth in buying power?
When I entered the “work force,” actually the USAF, $600 per month could support a family. Cars cost $2,000 and a Cadillac was about $5,000. A nice house cost $30,000 and a great house cost $50,000. Boats cost $1,500 and 5,000 would buy a great boat, $20,000 a yacht!
Understand that these figures are 60 years old but inflation has certainly caused the cost of living to soar.
Printing money is inflationary, period. Never mind the fact that the debt, continuing to rise, will never be paid unless the government declares bankruptcy...are we happy with that? NO!

[lepton]

I’m a landlord in Florida and my properties have gone way up

---

Location, location, location.

I suspect you aren’t dealing with evictions, and aren’t in the cities folks are trying to flee from.

[JCL3]

The lies are all that keeps people believing in the illusion, maybe?
_____________________________________________________________

Which is why many of us refer to the CPI “inflation” number as the CP LIE.

[Alberta's Child]

Bump for tomorrow. There are good posts worthy of responses here, and I would need to do justice by spending some time on it. Thanks!

[Alberta's Child]

I've posted a very important graph below. Note how the COMBINATION of money supply and velocity is far more relevant than just the money supply itself.

I'd suggest that several forces are at work here that produce "inflationary trends" in some products/services that offer a misleading view of the overall trend of money supply, velocity, etc.

1. One of the biggest factors here since March of last year is this: We are buying far more products than before, but using less services. This is reflected in the escalating prices of things like food, building materials, etc. -- even as some industries face a widespread collapse because their revenues have declined considerably.

2. Consider EVERYTHING you buy, not just the things that have gotten more expensive. Have prices gone up for discretionary things like apparel, landscaping services, airline travel, etc.?

3. Even for products and services that have gotten more expensive over time, don't just look at the prices of these things today compared to a year ago. Look at how the total cost has changed for you. For example, I think a haircut at my local barber costs about 15% more today than it did a year ago. But my "haircut budget" has plummeted -- because I've only had my hair cut by a barber TWICE in the last 13 months. The same goes for dress clothing and shoes. I haven't purchased any of these in a year and a half ... and don't anticipate doing so for at least the next 18 months. And what does dry cleaning cost these days? I haven't visited this type of business establishment since early 2020 -- and I do not expect to do so this year even once, with the exception of having my annual winter bed quilt cleaning done. And gasoline is a perfect example of this. Yes, it's more expensive today than in was a year ago. But I'll bet no more than 10% of Americans are even driving half as much as they were in the pre-COVID days.