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 ...
My insurance has already gone up substantially. I have read that State Farm is going to raise home and renters’ insurance in some places. Hold on to your butts, as they said in Jurassic Park. The WSJ writer doesn’t care, because he is able to pay cash for damages, and probably has several expensive lawyers ready to go.
You mean deflation. Disinflation is declining but still positive inflation.
Yeah, no one is buying that baloney. I wonder if they'll add them back into the CPI when Trump re-takes office...
We are being overtly and subtly bombarded with leftist disinformation on the economy from the government with all its meddled and tweaked CPI and BLS ‘statistics’ AND from media with leftist leaning comments and articles supporting the government’s lies.
Just a couple of days ago I listened to Consumer Guru Clark Howard on WSB radio tell us 1) that 75% of the people in the US believe the economy is getting better, and 2) that they believe they are better off now.
And I still go to the grocery store and gas station every couple of days and am blasted in the face with proof otherwise.
Americans can take bad news if it is the truth. What they can’t take are outright lies.
Dems and RINOs would be likely to use those numbers. "See, the CPI rose since Trump was elected." Don't assume that voters are perceptive.
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