Inflation fell to 2.9% in July, a level not seen since 2021
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Uncreative — 1 year ago(August 15, 2024 04:50 AM)
No you don't. They only drop when there's basically no economic activity. That means there's either something like a new COVID that shuts down the economy or free falling recession/depression. The best you can hope for is wages outpacing inflation and playing catch up.
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Uncreative — 1 year ago(August 15, 2024 05:07 AM)
Unless someone invents a Star Trek style replicator in the near future there's no tool that could possibly make that happen.
Maybe if Harris wins and has the Justice department crack down on monopolies it'll at least keep us from being gouged but I wouldn't count on that happening.
Flooding the market with new housing units would keep those prices down and at least free up people's budgets to pay for other stuff but that's unlikely too.
Or taxing/beheading billionaires to fund public programs or pay down some debts. Also unlikely. -
Vlad. — 1 year ago(August 15, 2024 10:28 AM)
Are you economist? Good explanations
Warren the Fed Reserve has a target inflation rate of 2%, meaning the people in charge of managing the economy want inflation all the time.
I remember from my Econ classes, deflation (negative inflation rate) is undesirable because it’s the result of bad things in the economy. Basically for prices to go down / deflate, demand from consumers (us) decreases. Companies lower prices because nobody is buying. For a little bit that might seem great to us but demand goes down for a reason, typically a bad one like if you lose your job.
Eventually prices will go down so much that companies cannot afford to pay wages and you’ll get layoffs. This stacks with whatever causative initially drove the reduced product demand that caused deflation, and it snowballs causing more bad things
So generally speaking you never want deflation.
Stop. -
CrystalRaindrops — 1 year ago(August 15, 2024 04:57 AM)
They can't control prices, so I don't know how much they really have to do with lowering inflation. The insane prices were caused mostly by gougers, like supermarket CEOs. (The stimulus checks are usually blamed, but come on, people having an extra $1,000 isn't going to have such an effect on the economy.) There was a phone call years ago where supermarket CEOs were bragging about how much they had raised prices and how they could keep getting away with it.
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WarrenPeace — 1 year ago(August 15, 2024 05:20 AM)
Yeah, if you wanna make money, make something everyone can use.
Food or TP.
That covers both ends!
LOL
Me too.
Gotta go and watch the B and B I recorded.
Good night.
"Please vote to preserve the unique character of Warren…" - Robert Duvall -
CrystalRaindrops — 1 year ago(August 16, 2024 02:54 AM)
Was B&B good?
True about both ends. On a related note, Harris wants to stop grocery gouging (this only mentions her going after food companies, but what about supermarket CEOs? Either way, some people will call her a communist for wanting to stop the gouging):
Within her first 100 days in office, the Democratic presidential candidate will push for the first-ever federal ban on “corporate price gouging” by food companies to prevent them from “unfairly jacking up prices on consumers,” her campaign said Wednesday. Harris also wants to provide the Federal Trade Commission (FTC) and state attorneys general with the authority to impose stiff penalties on corporations that violate such a ban.
Grocery prices increased by roughly 25% between 2019 and 2023, outpacing the rise in consumer goods, according to the U.S. Department of Agriculture. Although prices are still high and steadily growing, the pace of those increases has slowed down.
On Wednesday, the Bureau of Labor Statistics reported that food at home prices increased 1.1% year-over-year in July, marking the ninth straight month of growth below 2%. A key outlier is the price of eggs, which increased 5.5% compared to a month earlier because of low supply caused by bird flu outbreaks, among other factors.
Lina Khan, the FTC’s chair, earlier this month said she would push for a probe into why grocery prices have surged, saying that an inquiry would “shed light” on why prices and profits at grocery chains “remain so high even as costs appear to have come down.” In March, the FTC found that the three biggest grocery chains – Amazon, Kroger, and Walmart – raised food prices and gained a hefty profit due to pandemic-led supply chain snarls.
https://qz.com/kamala-harris-high-grocery-prices-inflation-regulation-1851623022 -
WarrenPeace — 1 year ago(August 17, 2024 03:16 AM)
Was B&B good?
One was interesting where they are smarter space aliens in an alternate universe.
Again, I dunno how much power the president has to do this stuff.
Both will say things just to get votes.
In any case, how rude for those in charge jacking up the prices like that.
"Please vote to preserve the unique character of Warren…" - Robert Duvall -
Yermom_Is_God — 1 year ago(August 16, 2024 07:06 AM)
The insane prices were caused mostly by gougers, like supermarket CEOs
That is 100% false. This is just insane illiterate economics. It is solely due to government printing and spending insane amounts of money. It is not price gouging and it is not greedy corporations, that idea is pure idiocy spewed by big government socialists. We printed twice as much money in two years than has ever existed in the history of the country. That is what caused inflation. More money supply chasing the same or fewer products. It is so frustrating to me seeing people who fully supported the government shut down the economy for 2 years and accuse people like me, who warned of the ramifications of inflation, of being selfish and trying to kill grandma, then turn around and blame private businesses instead of the government. The ****ing government bootlicking is so infuriating to me.
"I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit." -A fucking idiot -
Gluten Panic — 1 year ago(August 16, 2024 09:11 AM)
Exactly and some libs are acting like it's something to celebrate, but this 2.9% is ON TOP of all the previous inflation that we've been dealing with for the last 3 years. Have your grocery, auto, energy, and everything else prices gone back down to what they were before they started their insane rise?
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Yermom_Is_God — 1 year ago(August 16, 2024 03:50 PM)
Sorry, Crystal, I came in hot. Was drunk when I wrote that out. While I am correct, I didn't mean to be that insulting.
"I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit." -A fucking idiot -
Yermom_Is_God — 1 year ago(August 16, 2024 03:59 PM)
Lol! No, I like Crystal, I don't like 9 of the 10 people who use your account.
"I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit." -A fucking idiot
