Economy GOP back to Inflation worries. "Hyperinflation" (Update: 2022 Inflation Highest in 40 Years)

[Zazen]

I know that is true, but it doesn't change my first point. Every generation it is becoming successively harder to own the same amount of assets as the previous generation. Both sets of my grandparents owned a home, lakehouse, and boat(s). So grandparents are 2x house and a boat. Parent is 1x house, no boat. And me is currently no house and definitely no boat. I'll eventually get my house in the next few years, but I will almost definitely never own 2 and a boat. And my son, will he be able to afford a house? If you look at the long term trends on housing, education, health care, and now even consumer goods, its looking like home ownership will be non-existent for his generation. He will be renting a room in a converted multi-family unit.

 

[ineverpost]

If you think that you're a married couple with two Masters in STEM fields, you're probably too ill to hold a job. Also: https://www.bizjournals.com/sanfrancisco/news/2017/06/02/bart-janitors-overtime-pay.html.

More seriously, wages are way up from a generation ago. Not sure what you're on about.

Cost of living is up significantly more than wages, and property value is in another universe.

 

[Jack V Savage]

Cost of living is up significantly more than wages, and property value is in another universe.

That's not accurate.

Ed: wrong thread.

Weirdest thing here for someone with a liberal mindset is how people just confidently make these pronouncements without the slightest interest in whether they're actually true.

 

[woodguyatl]

True, but you gotta live somewhere.

For sure I meant my response to be a bit tongue-in-cheek. Even compared to normal home inflation in that area it underperformed. I went to HS in Arlington and graduated in the ‘80’s so lots of my friends have family or still live there so I am pretty familiar with the housing market and what the modest homes we lived in are selling for now.

Edit, just checked Zillow. The 1600 sqft house I lived in for HS that my parents bought in ‘85 for $148k sold last year for $985.

 

[dreden1982]

Boomers gon boom.

 

[Rational Poster]

That's not accurate.

Ed: wrong thread.

Weirdest thing here for someone with a liberal mindset is how people just confidently make these pronouncements without the slightest interest in whether they're actually true.

It seems to me that since we've gotten away from the gold standard that inflation in the historical sense doesn't really exist like it used to.. and countries that experience it experience it in relation to the value of the USD. The USD has become the old gold standard for everyone else except Americans.

The rise in costs seems more likely to do with the unending quest for better quarterly numbers than the previous year's quarter (and some practical scarcity). Also how every major corporation is heavily invested in certain sectors like housing, healthcare, etc it's always in their interest for things to cost more year after year.

 

[Rational Poster]

When liberals think they can just print new bills we get, get this, hyper inflation

do you want America to become Venezuela? It really seems like you all want that

America can't become Venezuela because all currency derives it value from the USD.

 

[Jack V Savage]

It seems to me that since we've gotten away from the gold standard that inflation in the historical sense doesn't really exist like it used to.. and countries that experience it experience it in relation to the value of the USD. The USD has become the old gold standard for everyone else except Americans.

No, we had high inflation after getting off the gold standard. And low inflation has been an issue throughout the developed world for a while now. Part of the problem is an aging population (and longer lifespans)/slow growth of the working-age population.

The rise in costs seems more likely to do with the unending quest for better quarterly numbers than the previous year's quarter (and some practical scarcity). Also how every major corporation is heavily invested in certain sectors like housing, healthcare, etc it's always in their interest for things to cost more year after year.

Costs have been rising very slowly, though. And, again, that's all over the developed world so it's not a U.S.-specific thing.

 

[Rational Poster]

No, we had high inflation after getting off the gold standard. And low inflation has been an issue throughout the developed world for a while now. Part of the problem is an aging population (and longer lifespans)/slow growth of the working-age population.



Costs have been rising very slowly, though. And, again, that's all over the developed world so it's not a U.S.-specific thing.

I didn't mean to imply it doesn't exist, it's just a different phenomena than it used to be and certainly different than the current proponents imply. It's more perception than supply/demand.

 

[Jack V Savage]

I didn't mean to imply it doesn't exist, it's just a different phenomena than it used to be and certainly different than the current proponents imply. It's more perception than supply/demand.

Yeah, definitely more complicated than most people ITT appreciate.

 

[aitkenmike]

why don't we make a sig bet? What do you expect inflation to be over the next 12 months (or whatever time frame it is that you're saying markets are getting it wrong about)?

Lol, this went really well during the last 'hyperinflation paranoia', glad to see version 2!

 

[MilesAbove]

When liberals think they can just print new bills we get, get this, hyper inflation

do you want America to become Venezuela? It really seems like you all want that

still pretending like it's a lib/con thing, huh?

 

[HeffDoesWant]

That's not accurate.

Ed: wrong thread.

Weirdest thing here for someone with a liberal mindset is how people just confidently make these pronouncements without the slightest interest in whether they're actually true.

I'd argue it is actually true but not though inflation, instead from a reduced proportion of the wealth of a nation going to the middle class.

 

[RemyR]

I dislike Tucker and not bothering to watch the video since hes generally a jackass but I’d be lying if inflation wasn’t a concern of mine as well with all the covid spending and general budget increases we’ve been doing. A bit worried it’s not sustainable long term.

 

[Jack V Savage]

I'd argue it is actually true but not though inflation, instead from a reduced proportion of the wealth of a nation going to the middle class.

Other factors certainly are in play (that affect distribution), but we've continually been growing after adjusting for inflation.

Profound insights. You are like a modern day Plato.

"Let's have a look at some numbers: 4, 12, 27, 13, 1, 2, 5, 7. Now the liberals want you to believe the average of those numbers is 8, but I had did some research, and I see a 12, a 27, and a 13. Is that possible? I think all of us who went to Prager U know that it is not. Now let's go back to fighting the ruling class by cutting their taxes and stripping protections for their employees."

Not sure if it's sadder that Tucker thinks so little of his audience or that he's right about them.

 

[witt1021]

NEither party has a clue on how to run an economy. Each side blows the debt up. Siding with either shows lack of common sense and reasoning. One party borrows and spends. The other party taxes and spends. The one that taxes and spends do nothing to address the retirement pensions in their state crippling their respective economies. The ones that borrow and spend drive up inflation. NEither has a clue. The economy is the single most important issue that all governments should be spot on with. not here in America.

 

[Prefect]

If your technology makes you able to output 2 apples instead of 1 per year, then the cost of apples would go down as the supply of apples increased.

If you were normally buying buying $200 coats from American businesses, and then the option to pay $40 for coats from Chinese businesses was made available, even if your money supply inflates you wouldn't think it did because it is hidden in the fact that you got a cheaper product elsewhere. Which has happened across the board in America (which also had a lot of other negative affects on the American economy, such as loss of jobs and revenue from those American companies).

When CPI went from being calculated from fix goods and switched to substitution , which they won't disclose, CPI went from a rough calculation for inflation to just a value increase for maintaining an accepted level of contentment. They then effectively made a decision for the public by constraining their income to lesser products and forcing them to switch to those products. If I said that canned corn was a substitute for corn on the cob and then used that to determine your raises, I am forcing you into buying canned corn and I am probably going to pat myself on the back for the substitution because I will see a lot more people making the same substitution. The same could be said about grassfed beef vs hormone and anti-biotic pumped. Similar but not at all the same. If CPI kept up with inflation, people would have an increasing lifestyle and options rather than stagnant or declining.

 

[MMA Time Soldier]

If you keep printing out and giving free money, the prices are going to rise.
This was to be expected with the pandemic stimulus checks.

 

[Jack V Savage]

When CPI went from being calculated from fix goods and switched to substitution , which they won't disclose, CPI went from a rough calculation for inflation to just a value increase for maintaining an accepted level of contentment. They then effectively made a decision for the public by constraining their income to lesser products and forcing them to switch to those products. If I said that canned corn was a substitute for corn on the cob and then used that to determine your raises, I am forcing you into buying canned corn and I am probably going to pat myself on the back for the substitution because I will see a lot more people making the same substitution. The same could be said about grassfed beef vs hormone and anti-biotic pumped. Similar but not at all the same. If CPI kept up with inflation, people would have an increasing lifestyle and options rather than stagnant or declining.

It's pretty amazing to me that people can be so uninformed that they don't know that quality of life in America has been increasing (you can literally just eyeball pictures from different places over time and see extremely large improvements). And I already corrected your mistake on CPI calculations:

https://www.bls.gov/cpi/additional-resources/historical-changes.htm

 

[Prefect]

America can't become Venezuela because all currency derives it value from the USD.

It's pretty amazing to me that people can be so uninformed that they don't know that quality of life in America has been increasing (you can literally just eyeball pictures from different places over time and see extremely large improvements). And I already corrected your mistake on CPI calculations:

https://www.bls.gov/cpi/additional-resources/historical-changes.htm

"Depending on the survey, that figure runs from half of workers making under $50,000 (according to Nielsen data) to 74% of all employees (per recent reports from both the American Payroll Association and the National Endowment for Financial Education.) And almost three in 10 adults have no emergency savings at all, according to Bankrate’s latest Financial Security Index."

https://www.marketwatch.com/story/a...ns-are-living-paycheck-to-paycheck-2020-01-07


Cool story bro. Maybe, you should checked out the length of the COVID-19 food lines to get a rough idea of how many people are completely fucked when any crisis happens. It is like you didn't even notice that all over they were in a lot of places over a mile long. You want to claim that the standard of living is rising but their is a tremendous number of people that are fiscally insecure.

Does this look like an increasing standard of living?