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Replies: 23
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All-In [26468]
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Inflation is already here ...
Mar 8, 2021, 4:20 PM
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Just look at your grocery and restaurant bills
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All-In [48078]
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Re: Inflation is already here ...
Mar 8, 2021, 4:30 PM
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Grocery bills have definitely gone up. I started noticing it about 6 months or so ago. I thought maybe markets were just price gouging during Covid.
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Heisman Winner [111319]
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Re: Inflation is already here ...
Mar 8, 2021, 6:11 PM
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i think you misunderstood, Biden started inflation, not the fed increasing the money supply with stimulus checks that have not even gone out yet. But yeah, inflation just started today.
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110%er [5641]
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Re: Inflation is already here ...
Mar 8, 2021, 9:12 PM
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I think it started about 1:30 pm. To be more accurate.
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All-In [31837]
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Food prices have been steadily rising for over a year now...
Mar 8, 2021, 4:52 PM
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food price index is up about 28% over the past 12 months.
I think COVID is playing a big part in it, especially imported foods. It's hard to even book shipments from China or Europe to the US right now and the ports are very congested. There was so much scale back when COVID first hit and the scale back up is going very slow right now. These unemployment extensions are hurting this segment too.
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All-TigerNet [10134]
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Re: Food prices have been steadily rising for over a year now...
Mar 8, 2021, 6:45 PM
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Gas goes up, the price of everything else goes up. The retailers will not lose money due to gas prices.
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All-TigerNet [10134]
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Re: Food prices have been steadily rising for over a year now...
Mar 8, 2021, 10:14 PM
[ in reply to Food prices have been steadily rising for over a year now... ] |
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food price index is up about 28% over the past 12 months.
I think COVID is playing a big part in it, especially imported foods. It's hard to even book shipments from China or Europe to the US right now and the ports are very congested. There was so much scale back when COVID first hit and the scale back up is going very slow right now. These unemployment extensions are hurting this segment too.
We’ve been in Covid pandemic for over a year now! Now prices are going up? GTFO kid!
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All-In [31837]
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You may need to re-read what you copied....
Mar 9, 2021, 7:49 AM
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food prices have been rising over the last year and not all effects from COVID happened the day CVODI started. Maybe you're not ready for prime time on here 
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All-TigerNet [10134]
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Re: You may need to re-read what you copied....
Mar 9, 2021, 5:55 PM
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My last concern is “going prime time” on a message board kid or whatever that is supposed to mean. I just understand what is driving cost of living and the biggest jump has happened in the last few months. Keeping walking around with a blindfold on and you will eventually fall in a hole.
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Rock Defender [53]
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Re: Inflation is already here ...
Mar 8, 2021, 5:33 PM
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All-In [48078]
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Re: Inflation is already here ...
Mar 8, 2021, 5:43 PM
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I was just looking at the menu of that Rick Erwins place in Clemson and I saw that a ribeye is 62 bucks, a filet 49, NY strip 58. Just kind of surprised me to have a place like that in Clemson. The town must have really changed.
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All-In [40868]
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We need to increase food subsidies
Mar 8, 2021, 5:58 PM
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and provide food stimulus checks monthly
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All-TigerNet [10866]
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True. Government stats like CPI and GDP are ridiculous.
Mar 8, 2021, 7:14 PM
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They are fraudulent really.
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All-In [31837]
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Care to explain?***
Mar 8, 2021, 9:40 PM
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All-TigerNet [10866]
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Oculus Spirit [97652]
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Personally I like the unemployment number.
Mar 9, 2021, 5:35 AM
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Which is the percentage of people who are looking for work but can't find a job. Not the percentage of people not working. We have more people not looking for work and not working than "unemployed". And if the current people who are looking for jobs would just stop looking... Unemployment would be zero.
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All-In [31837]
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Yeah, you always have to weigh unemployment measure...
Mar 9, 2021, 7:54 AM
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with labor force utilization figures. It is not very meaningful without that, as we saw during much of the Obama administration.
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All-In [31837]
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alright, so I read that piece....do you really think that...
Mar 9, 2021, 8:48 AM
[ in reply to Nope. But you can learn (maybe?) ] |
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supports your claim that GDP and CPI and "ridiculous" and "fraudulent"?
The piece makes the claim that the GDP is not the most accurate for measuring the total economy as well as it doesn't take into account certain things that the writer thinks it should...like sustainability/future production, etc...
I know it's a summary of a large book, but the "book report" itself doesn't make a very convincing case IMO.
What specifically stands out to you as problems with the measures?
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Hall of Famer [21850]
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my personal beef
Mar 9, 2021, 11:28 AM
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is including government spending in GDP calculations. Obviously if we're spending over $2.5T a year out of Washington, that's going to impact the GDP calcs. I get that it stimulates the economy, often times creates jobs, blah blah blah, but it feels artificial to me, and I'd prefer if our economy wasn't stimulated by the federal government.
it also becomes a little dicey for normal folks to understand how GDP calcs are impacted by inflation, or using NPV calculations to normalize the figures. 2T in 2021 dollars versus 1.8T in 2019 dollars, for example.
GDP with intense government spending like this needs an asterisk, IMO.
I also feel that our understanding of inflation and calculating that through current CPI methodologies needs to be revisited. I don't know how, haven't thought about it too much, but to say we've been under 2% inflation (Fed mandate) for the past 2 decades is a load of ####. In hindsight, it's easy to disprove...i guess is my point...so the calculation seems to be incomplete to me.
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All-In [31837]
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My point would be that there no perfect measure...
Mar 9, 2021, 11:45 AM
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of an economy exists. There is always going to be some trade-off in measures. I just take issue with the OP calling it fraudulent, like it's some great conspiracy. Plus, I'm always suspicious, of people that have such strong opinions, but don't seem to be able to make arguments about them themselves.
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Hall of Famer [21850]
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all this talk bout rick erwins and i don't get no spect for
Mar 9, 2021, 4:02 PM
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my pun?!
but my bad bro...i somehow got jumbled between threads and didn't realize i was replying to your reply of chucktom, so I missed the fight within the fight within the fight while thinking bout steaks.
I also agree with your point, and somewhat agree w/ chucktom in that these data points, like many others, are often pushed by entities to form a narrative when there's more to the story. so i guess we can all agree with some of what we're saying haha
my personal fave benchmarks:
true gdp
wage data
unemployment data (like what tiggity said)
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All-TigerNet [10866]
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Yes exactly.
Mar 9, 2021, 3:02 PM
[ in reply to my personal beef ] |
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GDP:
government pays people $1 trillion to dig a ditch
government pays people $1 trillion to fill the ditch in
YAY! GDP increased by $2 trillion!!!
This is fraud. If a business did this, their board and C-level management would be sent to pound-me-in-the-ass-prison.
CPI:
Steak costs $5/lb
Steak now costs $15/lb
Ground trash leftovers costs $5/lb
See, there's no inflation!
They allow "substitutions" which really means they purposefully use replacement products that aren't anywhere near the real product when calculating the CPI, so it looks like inflation is not that high but in reality everything is sh*t.
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110%er [5641]
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Re: Inflation is already here ...
Mar 8, 2021, 9:13 PM
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All part of the plan...pretend you are for $15/hr wage. Gut the economy so food prices go up. Mile-long food lines turn into 10 mile food lines.
And the Democrats pass more free stuff bills.
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CU Guru [1878]
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The Fed desires inflation at this point
Mar 9, 2021, 3:39 PM
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Until we are reliably above his 2% target.
Watch the 10 year treasury for an actually indication -
short term rises in food or gas prices mean absolutely nothing.
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Replies: 23
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