We didn't BORROW anything. We just printed 'money'.
Posted on 04/04/2024 8:52:26 AM PDT by yesthatjallen
In The Wall Street Journal’s latest poll of swing states, 74% of respondents said inflation has moved in the wrong direction in the past year.
This assessment, which holds across all seven states, is startling, sobering—and simply not true. I’m not stating an opinion. This isn’t something on which reasonable people can disagree. If hard economic data count for anything, we can say unambiguously that inflation has moved in the right direction in the past year.
In the 12 months through February, inflation, according to the century-old consumer-price index, was 3.2%, compared with 6% a year earlier. Use a slightly different time horizon, or a slightly different measure (such as the index the Federal Reserve prefers) and you get similar results. Take out food and energy—or for that matter look only at food and energy—and inflation is still down.
Yes, some individuals faced higher inflation (someone who bought a house, for instance) but, for the average person, inflation went down.
Yet the average person thinks it went up.
When it comes to the economy, the vibes are at war with the facts, and the vibes are winning. This is obviously bad news for President Biden’s re-election hopes. He can’t exactly tell voters that they are wrong; he would be called out of touch. And it probably wouldn’t change anything. The vibes seem symptomatic of a broader pessimism disconnected from the data.
SNIP
(Excerpt) Read more at msn.com ...
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https://twitter.com/RealAlexJones/status/1775929071928832273
People just aren't as freaking stupid as the left believes.
Go the to store and buy groceries. Everyone who does so regularly knows the talking heads are full of shit.
Don't believe my lyin eyes, eh?
OMG......I NOTHING GOOD CAN COME OUT OF THAT !
WSJ is not even showing this as an editorial or opinion piece. They are pretending that the conclusion is objectively true.
Ip: Let them eat cake!
These Wall Street Urinal reporters really don’t seem to understand that grocery prices went up at least 40 percent from 3 years ago. I paid about $140 dollars for groceries and a few other things from Wal-Mart (!) yesterday. 3 years ago, that total purchase might have been 100 dollars.
These elitists can pound sand.
Let’s go further. Yesterday, I also had my car’s 90,000 mile service, which is pretty involved stuff. I paid $592 for it. Using that same 40% factor, I might have paid around $423 in 2021.
New and used car prices too. My mechanic sold me a 2005 Ford Escape V8 for $1300. Ugly but runs OK with 4 good tires. I could have paid a lot more. He was doing me a favor.
Imagine two scenarios: in one, the price of gasoline rises gradually from two dollars to six dollars over four years; in the other, it quickly jumps up to six dollars, and stays there.
The inflation rate dropped to zero in the second scenario. Does that make it “better”?
I heard from a local friend that somebody he knows bought a used car for TWENTY GRAND!
Biden has no worries about being re-elected.
The Democrats have gamed the system.
Yet the average person thinks it went up.
Yes, 3.2% is STILL UP!!!
When it EVER becomes negative - it goes DOWN!
It's the RATE of Inflation that has gone down.
We didn't BORROW anything. We just printed 'money'.
I'm glad I'm not the only one who understands this!
A lot of us FREEPERS remember our math!
Prices, especially in a broad basket like the CPI, rarely go down.
You will see components of it (eggs, gas, etc) drop from one period to the next. But overall, the higher prices are baked into the system until there is a disruption. That disruption is usually stuff like war, peace, or something technology related.
We are stuck with the high prices for a long time.
The CPI composition changes on a regular basis.
The changes in the culture and productivity cause one part or another to fall out or be added.
Looking at the CPI in 1979 and trying to compare it to today means that the introduction of computerized manufacturing and the internet will not be reflected at all.
It would be akin to comparing the price of the 1950s SP500 to today and not including Apple or Microsoft.
You bring up an important point. Comparisons of anything related to ‘20/‘21 and even into ‘22 are not “real.” At least they should be viewed with an asterick.
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