Why inflation may be worse than you think it is

[jusplay4fun]

PRODUCER PRICE INDEXES – JUNE 2024

The Producer Price Index for final demand advanced 0.2 percent in June, seasonally adjusted, the U.S.
Bureau of Labor Statistics reported today. Final demand prices were unchanged in May and increased
0.5 percent in April. (See table A.) On an unadjusted basis, the index for final demand rose 2.6 percent
for the 12 months ended in June, the largest advance since moving up 2.7 percent for the 12 months
ended March 2023.

The June rise in the index for final demand can be traced to a 0.6-percent increase in prices for final
demand services. In contrast, the index for final demand goods decreased 0.5 percent.

Prices for final demand less foods, energy, and trade services were unchanged in June following a 0.2-
percent advance in May. For the 12 months ended in June, the index for final demand less foods, energy,
and trade services moved up 3.1 percent.
https://www.bls.gov/news.release/pdf/ppi.pdf

[Votanic]

It's funny how you're the first one to complain when people substitute name-calling for argument, but you're not afraid to do it yourself.

Uh-uh, not so fast, Dukasaur.
I've been around long enough to remember the most whinging complaints were sent by PM from creatures like "pukeratloltrans" etc., ...and I also recall your own extreme and highly biased over-reactionss to those complaints.

[Dukasaur]

It's funny how you're the first one to complain when people substitute name-calling for argument, but you're not afraid to do it yourself.

Uh-uh, not so fast, Dukasaur.
I've been around long enough to remember the most whinging complaints were sent by PM from creatures like "pukeratloltrans" etc.,

Um, aren't you kinda proving my point, throwing a completely gratuitous and unprovoked insult at someone?

...and I also recall your own extreme and highly biased over-reactionss to those complaints.

Actually, after you accused me of being biased, I took it seriously and asked several other mods to look at the thread. Nobody thought I was being unfair.

[HitRed]

This was for me. Discern for yourself.

Sell stocks?

Move forward at lightening speed. - God

[mookiemcgee]

This was for me. Discern for yourself.

Sell stocks?

Move forward at lightening speed. - God

GOD WANTS YOU RUNNING THE 1500M AT THE OLYMPICS NEXT MONTH!!!!

better start training bro.

[HitRed]

Sell stocks?

Move forward at lightening speed. - God

Done

[mookiemcgee]

Sell stocks?

Move forward at lightening speed. - God

Done

I'll be dumping a bunch of Gamestop later this week if the cat-gods predictions come to pass and it's sure looking like they will.

Still think you might be tunnel vision on God talking about stocks. I'd squeeze in some cardio if I were you just in case you are called on to run.

[jusplay4fun]

The inflation caused by Bidenomics, that Kamala credits as part of the Biden-Harris Administration, will be SUPPOSEDLY CURED as Kamala suggests that PRICE GOUGING is the CAUSE of this inflation. I have shown arguments that much of the inflation is due to overspending by the Federal Government, mostly under Biden-Harris and Bidenomics. The grocery industry has a VERY SLIM profit margin of 1%, perhaps at THE MOST of 2%. This clearly shows that Kamala does not understand Economics and the CAUSES of INFLATION. The inflation in food is NOT caused by GREED nor Price Gouging. Silly Cackling Kamala. Why is she waiting NOW to propose such ideas?

(And while we are discussing delayed actions, why did Biden wait until NOW for executives orders and actions to curtail ILLEGAL immigration the US-Mexico border?)

Aug 16 (Reuters) - As Vice President Kamala Harris focuses on price gouging in her presidential campaign, state laws and laws proposed by her colleagues in the Senate show potential paths for a crackdown on high prices.

The Democratic candidate planned to lay out her anti-price gouging and other economic proposals in a speech in Raleigh, North Carolina, on Friday.

https://www.reuters.com/world/us/harris-anti-price-gouging-plan-could-build-us-state-law-2024-08-16/

Harris’ plan to stop price gouging could create more problems than it solves

[url]https://www.cnn.com/2024/08/16/business/harris-price-gouging-ban-inflation/index.html
[/url]
Even Liberal bastion CNN admits the fallacy of such an idea as Price controls. More from CNN follows:

Food prices have surged by more than 20% under the Biden-Harris administration, leaving many voters eager to stretch their dollars further at the grocery store.

On Friday, Vice President Kamala Harris said she has a solution: a federal ban on price gouging across the food industry.

“My plan will include new penalties for opportunistic companies that exploit crises and break the rules,” Harris said at a campaign event.

There’s just one issue: Harris’ proposal could create more problems than the one it’s trying to solve, some economists say.

You can read the CNN article for more specifics of the FALLACY and silliness of Kamala's proposal. Here is one such quote, also from CNN:

Jason Furman, a top economist in the Obama administration, shared Roberts’ view that anti-price gouging laws could inadvertently harm consumers. “This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” he told the New York Times. “There’s no upside here, and there is some downside.”

[HitRed]

Gold always is strong before a recession.

[Pack Rat]

The inflation caused by Bidenomics, that Kamala credits as part of the Biden-Harris Administration, will be SUPPOSEDLY CURED as Kamala suggests that PRICE GOUGING is the CAUSE of this inflation. I have shown arguments that much of the inflation is due to overspending by the Federal Government, mostly under Biden-Harris and Bidenomics. The grocery industry has a VERY SLIM profit margin of 1%, perhaps at THE MOST of 2%. This clearly shows that Kamala does not understand Economics and the CAUSES of INFLATION. The inflation in food is NOT caused by GREED nor Price Gouging. Silly Cackling Kamala. Why is she waiting NOW to propose such ideas?

(And while we are discussing delayed actions, why did Biden wait until NOW for executives orders and actions to curtail ILLEGAL immigration the US-Mexico border?)

Aug 16 (Reuters) - As Vice President Kamala Harris focuses on price gouging in her presidential campaign, state laws and laws proposed by her colleagues in the Senate show potential paths for a crackdown on high prices.

The Democratic candidate planned to lay out her anti-price gouging and other economic proposals in a speech in Raleigh, North Carolina, on Friday.

https://www.reuters.com/world/us/harris-anti-price-gouging-plan-could-build-us-state-law-2024-08-16/

Harris’ plan to stop price gouging could create more problems than it solves

[url]https://www.cnn.com/2024/08/16/business/harris-price-gouging-ban-inflation/index.html
[/url]
Even Liberal bastion CNN admits the fallacy of such an idea as Price controls. More from CNN follows:

Food prices have surged by more than 20% under the Biden-Harris administration, leaving many voters eager to stretch their dollars further at the grocery store.

On Friday, Vice President Kamala Harris said she has a solution: a federal ban on price gouging across the food industry.

“My plan will include new penalties for opportunistic companies that exploit crises and break the rules,” Harris said at a campaign event.

There’s just one issue: Harris’ proposal could create more problems than the one it’s trying to solve, some economists say.

You can read the CNN article for more specifics of the FALLACY and silliness of Kamala's proposal. Here is one such quote, also from CNN:

Jason Furman, a top economist in the Obama administration, shared Roberts’ view that anti-price gouging laws could inadvertently harm consumers. “This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” he told the New York Times. “There’s no upside here, and there is some downside.”

Got to hand it to jusplay4MAGA, he tells us he is right and has proved himself right previously...in fact many times, lol.


So, government spending is the main culprit for the inflation, according to the world of jusplay4MAGA. OK, now that the inflation rate has cooled to the point that the Federal Reserve will lower the lending rate....so what does this prove? TRUMP IS THE CAUSE FOR THE WILD INFLATION RATE AMERICANS HAD TO ENDURE WITH HIS WILD EXCESSIVE SPENDING THAT LED TO RECORD DEFICIT SPENDING THAT ENRICH THE FITHY RICH!

https://www.propublica.org/article/national-debt-trump


Thank you Biden for lowering the costs of medicine and the lowering of the wild inflation rate caused by Trump's reckless spending.

show

[jusplay4fun]

p-rat had about one month to craft a response and this is the best he can do?

I will take as a compliment that he said:

Got to hand it to jusplay4MAGA, he tells us he is right and has proved himself right previously...in fact many times, lol.

So p-rat agrees that I know MUCH more about Economics, Astronomy, Chemistry and many other subjects that he is CLUELESS about it seems. Thanks, p-rat.

And FYI, I do not have a Trump Flag or banner in my yard or on my house. I bet that p-rat has NO signs that he supports Kamala on his property since he cannot spell her name.

[Pack Rat]

How old are you? Just wondering why you resort to juvenile remarks?

Did I get under your skin?

[kentington]

How old are you? Just wondering why you resort to juvenile remarks?

Did I get under your skin?

That song is pretty bad. The flow is not great.

[Pack Rat]

How old are you? Just wondering why you resort to juvenile remarks?

Did I get under your skin?

That song is pretty bad. The flow is not great.

Yes, the song is as bad as the lyrics that Trump sings to his supporters. Believe me, I'd rather play Rammstein music in the background.

[Dukasaur]

Gold always is strong before a recession.

We are SO overdue for a recession.

I only hope it holds off another couple months.

[HitRed]

Recession by end of February.

We'll see.

My earlier post.

[jusplay4fun]

Retirees be warned:

I’m an Economist: 2 Reasons I Believe Harris’ Opportunity Economy Would Hurt Retirees

(...)

While the details of this plan are still a bit vague, it does seem to mostly be targeting working Americans. That said, certain aspects of it could end up hurting retirees, especially those on fixed or limited incomes.

GOBankingRates spoke with Milton Ezrati, chief economist at Vested and the author of “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live,” to find out how Harris’ “opportunity economy” could hurt retirees.

(...)

Although most of these proposed changes are geared toward working individuals, they still likely would impact retirees — even if they don’t benefit from them.

“All these programs would add up to quite a government expense,” Ezrati said. “To the extent that they add to budget deficits and feed inflation, retirees would suffer — and disproportionately so, because many are on fixed incomes."

https://www.msn.com/en-us/money/personalfinance/i-m-an-economist-2-reasons-i-believe-harris-opportunity-economy-would-hurt-retirees/ar-AA1r6Rfs?ocid=winp2fptaskbar&cvid=396b8be4a04441ed9edf9323cde6bae1&ei=25

[Pack Rat]

The U.S. Banking System is dropping interest rates, due to their belief that inflation is now under control. Interest rates will continue to fall to not only prevent a recession and/or deflation.

[mookiemcgee]

Retirees be warned:

I’m an Economist: 2 Reasons I Believe Harris’ Opportunity Economy Would Hurt Retirees

(...)

While the details of this plan are still a bit vague, it does seem to mostly be targeting working Americans. That said, certain aspects of it could end up hurting retirees, especially those on fixed or limited incomes.

GOBankingRates spoke with Milton Ezrati, chief economist at Vested and the author of “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live,” to find out how Harris’ “opportunity economy” could hurt retirees.



(...)

Although most of these proposed changes are geared toward working individuals, they still likely would impact retirees — even if they don’t benefit from them.

“All these programs would add up to quite a government expense,” Ezrati said. “To the extent that they add to budget deficits and feed inflation, retirees would suffer — and disproportionately so, because many are on fixed incomes."

https://www.msn.com/en-us/money/personalfinance/i-m-an-economist-2-reasons-i-believe-harris-opportunity-economy-would-hurt-retirees/ar-AA1r6Rfs?ocid=winp2fptaskbar&cvid=396b8be4a04441ed9edf9323cde6bae1&ei=25

lol, except for the part of the article where she says “I know economists have labeled [Donald] Trump as more inflationary.”

Maybe if republicans ran an actual fiscal conservative who didn't plan to pay for all his massive planned spending through tarrifs (a regressive tax system we abandoned in the 1800s), they wouldn't sound so disingenuous in claiming the democrat plan would lead to inflation.

This articles author, and virtually every legitimate economist who has looked at the two plans believes the Trump plan is an order of magnitude worse for inflation. Donald Trump literally wants to undo free trade with America and it's an economic CERTAINTY that if he gets his way the burden will be paid by US consumers...even retirees.

[pmac666]

Another thing maga doesnt care for (after sexual assault, adultery, fraud, felonies, racism, sexism, homophobia and insurrection. Ad it to the list).
All the outrage about inflation, which isnt even caused by the Biden admin and is back again to normal levels (fastest recovery in g7), and then they turn around and vote for the worst inflation driver, tariffs.
Only begs the question, are they dumb or brainwashed? Or both?
I think i know the answer. lol

I mean, lets face it, Trump passed one piece of economic legislation, his tax cuts.
80% of those went to the rich, they did virtually nothing for the GDP and added almost 2 trillion to the debt (which he wanted to reduce ).
That his economy held up so nicely simply comes down to one word: Obama.

And then he botched the covid response and became the debt king.

[jusplay4fun]

Retirees be warned:

I’m an Economist: 2 Reasons I Believe Harris’ Opportunity Economy Would Hurt Retirees

(...)

While the details of this plan are still a bit vague, it does seem to mostly be targeting working Americans. That said, certain aspects of it could end up hurting retirees, especially those on fixed or limited incomes.

GOBankingRates spoke with Milton Ezrati, chief economist at Vested and the author of “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live,” to find out how Harris’ “opportunity economy” could hurt retirees.



(...)

Although most of these proposed changes are geared toward working individuals, they still likely would impact retirees — even if they don’t benefit from them.

“All these programs would add up to quite a government expense,” Ezrati said. “To the extent that they add to budget deficits and feed inflation, retirees would suffer — and disproportionately so, because many are on fixed incomes."

https://www.msn.com/en-us/money/personalfinance/i-m-an-economist-2-reasons-i-believe-harris-opportunity-economy-would-hurt-retirees/ar-AA1r6Rfs?ocid=winp2fptaskbar&cvid=396b8be4a04441ed9edf9323cde6bae1&ei=25

lol, except for the part of the article where she says “I know economists have labeled [Donald] Trump as more inflationary.”

Maybe if republicans ran an actual fiscal conservative who didn't plan to pay for all his massive planned spending through tarrifs (a regressive tax system we abandoned in the 1800s), they wouldn't sound so disingenuous in claiming the democrat plan would lead to inflation.

This articles author, and virtually every legitimate economist who has looked at the two plans believes the Trump plan is an order of magnitude worse for inflation. Donald Trump literally wants to undo free trade with America and it's an economic CERTAINTY that if he gets his way the burden will be paid by US consumers...even retirees.

I am glad Mookie that you did read the article I cited. Thanks for being willing to learn.

[Pack Rat]

Retirees be warned:

I’m an Economist: 2 Reasons I Believe Harris’ Opportunity Economy Would Hurt Retirees

(...)

While the details of this plan are still a bit vague, it does seem to mostly be targeting working Americans. That said, certain aspects of it could end up hurting retirees, especially those on fixed or limited incomes.

GOBankingRates spoke with Milton Ezrati, chief economist at Vested and the author of “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live,” to find out how Harris’ “opportunity economy” could hurt retirees.



(...)

Although most of these proposed changes are geared toward working individuals, they still likely would impact retirees — even if they don’t benefit from them.

“All these programs would add up to quite a government expense,” Ezrati said. “To the extent that they add to budget deficits and feed inflation, retirees would suffer — and disproportionately so, because many are on fixed incomes."

https://www.msn.com/en-us/money/personalfinance/i-m-an-economist-2-reasons-i-believe-harris-opportunity-economy-would-hurt-retirees/ar-AA1r6Rfs?ocid=winp2fptaskbar&cvid=396b8be4a04441ed9edf9323cde6bae1&ei=25

lol, except for the part of the article where she says “I know economists have labeled [Donald] Trump as more inflationary.”

Maybe if republicans ran an actual fiscal conservative who didn't plan to pay for all his massive planned spending through tarrifs (a regressive tax system we abandoned in the 1800s), they wouldn't sound so disingenuous in claiming the democrat plan would lead to inflation.

This articles author, and virtually every legitimate economist who has looked at the two plans believes the Trump plan is an order of magnitude worse for inflation. Donald Trump literally wants to undo free trade with America and it's an economic CERTAINTY that if he gets his way the burden will be paid by US consumers...even retirees.

I am glad Mookie that you did read the article I cited. Thanks for being willing to learn.

Not sure if you actually read and comprehend Mookie's reply? Maybe your narcissist attitude is not allowing you to learn.

[jusplay4fun]

Retirees be warned:

I’m an Economist: 2 Reasons I Believe Harris’ Opportunity Economy Would Hurt Retirees

(...)

While the details of this plan are still a bit vague, it does seem to mostly be targeting working Americans. That said, certain aspects of it could end up hurting retirees, especially those on fixed or limited incomes.

GOBankingRates spoke with Milton Ezrati, chief economist at Vested and the author of “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live,” to find out how Harris’ “opportunity economy” could hurt retirees.



(...)

Although most of these proposed changes are geared toward working individuals, they still likely would impact retirees — even if they don’t benefit from them.

“All these programs would add up to quite a government expense,” Ezrati said. “To the extent that they add to budget deficits and feed inflation, retirees would suffer — and disproportionately so, because many are on fixed incomes."

https://www.msn.com/en-us/money/personalfinance/i-m-an-economist-2-reasons-i-believe-harris-opportunity-economy-would-hurt-retirees/ar-AA1r6Rfs?ocid=winp2fptaskbar&cvid=396b8be4a04441ed9edf9323cde6bae1&ei=25

lol, except for the part of the article where she says “I know economists have labeled [Donald] Trump as more inflationary.”

Maybe if republicans ran an actual fiscal conservative who didn't plan to pay for all his massive planned spending through tarrifs (a regressive tax system we abandoned in the 1800s), they wouldn't sound so disingenuous in claiming the democrat plan would lead to inflation.

This articles author, and virtually every legitimate economist who has looked at the two plans believes the Trump plan is an order of magnitude worse for inflation. Donald Trump literally wants to undo free trade with America and it's an economic CERTAINTY that if he gets his way the burden will be paid by US consumers...even retirees.

I am glad Mookie that you did read the article I cited. Thanks for being willing to learn.

Not sure if you actually read and comprehend Mookie's reply? Maybe your narcissist attitude is not allowing you to learn.[/b]

pee-rat shows no evidence of comprehension of economic issues. And, in fact, his lack of comprehension is not confined to Economics; instead, this is true of most topics pee-rat posts about. What pee-rat calls narcissism is actually my elucidation of such matters that go beyond the ability of pee-rat to grasp.

[HitRed]

is the new $20