Economy Biden:Economy had zero percent inflation .

[Jack V Savage]

The Keystone Pipeline is owned by TC Energy and Alberta. Biden doesn't make hiring or firing decisions for them.

 

[ShadowRun]

The Keystone Pipeline is owned by TC Energy and Alberta. Biden doesn't make hiring or firing decisions for them.

His direct action of canceling the pipeline resulted in those lost jobs , you refuting that ?

 

[Contempt]

Here we have more examples of the Biden admin, Liberals making sure that they are doing everything possible to avoid any discussions that there is an inflation.

So... in a month where the energy costs had a big fall, the increase in other areas were so large that it cancelled it out?

...yeah, that's something to be happy about

 

[ElKarlo]

https://www.bls.gov/news.release/cpi.nr0.htm

The number is 0.0% (and actually negative if you go to more decimal points). You will never produce a single example of me lying. That's exactly what pisses off partisan fanatics.

Interesting. You’re right. My apologies. I had read that the numbers were up .3% month over month.
Also this is all energy price dropping. If energy prices stabilize or rise again, inflation is going to stay

 

[Jack V Savage]

His direct action of canceling the pipeline resulted in those lost jobs , you refuting that ?

Not 11,000. The company said 1,000, I believe. And note that that's not net--that's gross. It's not even close to 1% of monthly turnover.

Interesting. You’re right. My apologies. I had read that the numbers were up .3% month over month.
Also this is all energy price dropping. If energy prices stabilize or rise again, inflation is going to stay

Non-core elements had been pushing the overall numbers up, and people would be dismissive of the focus on core, and now non-core elements are pulling them down, and people want to look at core. Very hard to get good-faith analysis.

I would say that in general, the focus should be on core inflation (and the Fed looks at it more when making decisions). But because non-core costs went up so much, it's good to see them coming back down. Looks like the real underlying annual increase is in the area of 4% (the amount due to overheating and what won't just naturally come down), with other factors contributing the remainder (in the U.S.--proportions are different in other countries).

 

[Jack V Savage]

Not 11,000. The company said 1,000, I believe. And note that that's not net--that's gross. It's not even close to 1% of monthly turnover.

BTW @ShadowRun, I think a lot of people don't appreciate this so I'll explain. When you see the "jobs created" number for the month, that's a net figure. So last month was +500K, but what that actually is is 6.4M new hires and 5.9M separations (quits, retires, fires, etc.). A change of 1K in either direction has no impact on anything. That's also why "I know a guy who is hiring more/laying people off" doesn't tell us anything meaningful about the national job picture.

 

[ShadowRun]

BTW @ShadowRun, I think a lot of people don't appreciate this so I'll explain. When you see the "jobs created" number for the month, that's a net figure. So last month was +500K, but what that actually is is 6.4M new hires and 5.9M separations (quits, retires, fires, etc.). A change of 1K in either direction has no impact on anything. That's also why "I know a guy who is hiring more/laying people off" doesn't tell us anything meaningful about the national job picture.

Yea I realize this and appreciate the information you know what I was saying was in just in a easy tone. Jobs are being created at high numbers but we’re also lost in high numbers because of covid. I’m Interested in the numbers in overall numbers and not % compared in the last 10 years. I’m not mad the economy is recovering under any president D or R.

 

[Beechwood]

This is bad to see. Food inflation surged over 13% last month. Not surprised though with Democrat policies food prices are likely continue to go higher.


Inflation hits Americans' grocery bills as food prices accelerate
Food prices surged 13.1% in July, highest since 1979

https://www.foxbusiness.com/economy/inflation-hits-americans-grocery-bills-food-prices-accelerate

 

[Rob Battisti]

These are my favorite kinds of arguments here.

It’s like a building caught fire and 40 people died. The mayor comes out and says “we had zero deaths due to the fire”. People obviously know he’s lying, but then some one else comes out and says “well, they actually died of smoke inhalation — so he is factually correct. No one died from fire. Only liars would claim otherwise.”

 

[Rob Battisti]

Incoming “that’s so disingenuous!” Comments in 3…2…1….

 

[ElKarlo]

Not 11,000. The company said 1,000, I believe. And note that that's not net--that's gross. It's not even close to 1% of monthly turnover.



Non-core elements had been pushing the overall numbers up, and people would be dismissive of the focus on core, and now non-core elements are pulling them down, and people want to look at core. Very hard to get good-faith analysis.

I would say that in general, the focus should be on core inflation (and the Fed looks at it more when making decisions). But because non-core costs went up so much, it's good to see them coming back down. Looks like the real underlying annual increase is in the area of 4% (the amount due to overheating and what won't just naturally come down), with other factors contributing the remainder (in the U.S.--proportions are different in other countries).

Problem is, that picking and choosing core only, doesn’t represent what regale people are being impacted by. As it is, all the other inputs are up basically. Only fuels are down. That can be a very temporary instance and be undone with a single oil spill or a Suez like blockage.
I made a thread about the red being behind in unwinding. Now is why. As they could have been raising rates alone, without selling off bonds. Which has made mortgage rates rise to over 5% iirc.
Is the fed is juggling more than it should. Which will make a soft landing almost impossible

 

[Jack V Savage]

Problem is, that picking and choosing core only, doesn’t represent what regale people are being impacted by. As it is, all the other inputs are up basically. Only fuels are down. That can be a very temporary instance and be undone with a single oil spill or a Suez like blockage.

Yes to the first sentence, but that's also an argument for looking at non-core now, as it's falling. The question is always do we want to understand what's going on or do we just want to pick the numbers that fit a preferred narrative regardless of reality? My view on this and most issues is that everything counts--and you try to be clear about what you're trying to understand when you choose what metrics to look at. That goes for core vs. non-core (both matter, core tells you more about the true condition, but non-core also is an important part of what people are experiencing) and for Y/Y vs. M/M (M/M gives you information about trends, Y/Y tells you what happened and is also less volatile).

As to the rest, that's exactly what core is generally a better metric. Things that are unrelated to capacity constraints or embedded inflation affect energy prices. They're volatile and unpredictable. Also note that core was positive in the last month, but it also slowed down significantly.

I made a thread about the red being behind in unwinding. Now is why. As they could have been raising rates alone, without selling off bonds. Which has made mortgage rates rise to over 5% iirc.
Is the fed is juggling more than it should. Which will make a soft landing almost impossible

Housing is one of the main channels through which monetary policy works. The challenge is that the economy isn't really overheated to the point of 8.5% YOY inflation--it's more like 4-5% from overheating and then other factors responsible for the rest. So they don't want to hit the brakes consistent with the current number. Since there is uncertainty around all that, getting it just right is going to be very difficult. A soft landing is definitely possible, but also far from certain.

 

[Jack V Savage]

I like how people are trying to make principled defenses of lying. "Durr, if the president said something that was misleading (which he didn't), it would have been misleading so lying is good." Christians, man.

 

[cottagecheesefan]

I absolutely LOVE this headline.

"Inflation angst resurfaces.."

Bitch what, when did it go under the surface? The headline of 0% inflation was literally just last week, and the ONLY people with the pom-poms our cheering that were Biden himself and the libtard media. How pathetic lmao.




Meanwhile, Target is getting crushed cause even those making over 100k cannot afford their shit and have to go to walmart

 

[cottagecheesefan]

I absolutely LOVE this headline.

"Inflation angst resurfaces.."

Bitch what, when did it go under the surface? The headline of 0% inflation was literally just last week, and the ONLY people with the pom-poms our cheering that were Biden himself and the libtard media. How pathetic lmao.




Meanwhile, Target is getting crushed cause even those making over 100k cannot afford their shit and have to go to walmart

Whoops, posted a tweet twice. Meant to post this one instead of that one the second time

 

[cottagecheesefan]

Lmaooo, even the fed is like, there is no indication that they is inflation reduction

Biden admin looks stupid as they continue to raise interest rates

 

[Rob Battisti]

Lmaooo, even the fed is like, there is no indication that they is inflation reduction

Biden admin looks stupid as they continue to raise interest rates

They are in a corner. No way we have anything but a 50 point raise again. Just can’t do it.

 

[Jack V Savage]

Hilarious to see unprincipled Republicans twist themselves into knots by simultaneously insisting that we're already in a recession and that the economy is so strong that even significant fiscal contraction won't be enough, and the Fed will have to step harder on the brakes to prevent overheating. Y'all should come to the dark side and just be honest, if for no other reason than that it's easier.

 

[Letssnuggle]

Hilarious to see unprincipled Republicans twist themselves into knots by simultaneously insisting that we're already in a recession and that the economy is so strong that even significant fiscal contraction won't be enough, and the Fed will have to step harder on the brakes to prevent overheating. Y'all should come to the dark side and just be honest, if for no other reason than that it's easier.

We are in a recession because the economy is so strong? Derp.

 

[Jack V Savage]

We are in a recession because the economy is so strong? Derp.

How are you able to post when you apparently can't read?