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Inflation Beyond the Stars Thread for April 12


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2022 Apr 12, 12:49am   146,731 views  1,539 comments

by AmericanKulak   ➕follow (8)   💰tip   ignore  

Since we know the numbers are going to suck since Peppermint Patty is leading the Amen Corner Media to blame Putin for it:
https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati

Frankly, I prefer my spaceship to have big tits and not fake inflated ones.

EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'

https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net

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1214   zzyzzx   2024 Jul 10, 6:23am  

Underweight:


1216   AD   2024 Jul 11, 12:45am  

The Federal Reserve uses PCE as its inflation indicator and its been below 3% since October 2023 (6 month average is around 2.7%).

https://tradingeconomics.com/united-states/pce-price-index-annual-change

From what I can see, since September 1991, annual inflation (i.e., PCE) has been mostly ranged between 2 and 3%.

Seems like the economy can manage this if annual inflation remains around 2.7%.

Hopefully the bond market will be more dovish about this, and interest rates drop which will help the federal government with lower debt service payments.

This year the debt payment for the federal government is forecasted around $892 billion, which is more than the Pentagon and National Security budgets.

Debt payment for the federal government was $659 billion last year.
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1217   DOGEWontAmountToShit   2024 Jul 11, 10:07am  

AD says

The Federal Reserve uses PCE as its inflation indicator and its been below 3% since October 2023 (6 month average is around 2.7%).


Which is bullshit.


1218   AD   2024 Jul 11, 10:26am  

DemocratsAreTotallyFucked says

Which is bullshit.


Yes, but that is CPI which is not as comprehensive as PCE. I just use them to follow trends and CPI is on downward trend with June 2024's annual inflation rate (or 12 month inflation rate) of 3%.

How they calculate CPI and PCE is somewhat controversial as far as the weightings of the aggregates like housing and how it applies to the working class and the lower middle class, especially when it comes to housing.

I am just hoping the bond market eases up and gets dovish views on inflation, and interest rates such as for the 10 year bond drop.

That will help reduce how much the federal government spend's annually on debt service payment, and help to reduce the deficit relative to the Pentagon's and Veteran Affairs' budgets.
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1219   AD   2024 Jul 11, 10:55am  

Still the 3 month and 1 year Treasury did not budge much today after the CPI report which shows inflation continuing to trend down.

The Yield Curve still remains inverted.

What gets me is I go back to late 1990s and PCE was very low. Yet the 10 Year Treasury and 30 Year mortgage were high like they are now.

Back then in 1999 the 30 Year mortgage rate was between 6.5% and 7%, despite PCE (or annual inflation) remaining below 3%. What happened back then ????

https://tradingeconomics.com/united-states/pce-price-index-annual-change

https://tradingeconomics.com/united-states/mortgage-rate

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1222   Joetheplumber   2024 Jul 12, 6:25am  



Don't forget the change from 20lb to 15 lb propane tank refills... Been going on for a long fricking time, and no one complains.
1223   clambo   2024 Jul 12, 6:39am  

The price of scuba diving from Jupiter, Florida on a dive boat with 2 tanks (which I rent) is now $150.
I tip the two dive boat crew $20 each, so the total=$190.

Previously it was $120 plus tip=$160.

In California I always did diving from a beach and it cost me nothing except $5 for filling my tank with air.
1224   RWSGFY   2024 Jul 12, 7:04am  

Joetheplumber says



Don't forget the change from 20lb to 15 lb propane tank refills... Been going on for a long fricking time, and no one complains.


Local ACE still fills them to 20lbs and cheaper than your typical gas station exchange.
1225   AD   2024 Jul 12, 1:15pm  

.

The Panama City Beach "bed tax" (for hotels, motels and vacation rentals) is down for April 2024 compared to April 2023 and the previous years.

This tells me the economy is slowing and people cutting back on vacation spending because of inflation.

April 2021 bed tax receipts of $3,245,636 were stellar because a lot of people had COVID money and wanted to go vacation in Florida.

I am going to check to see if there has been "less inflation" (also called "disinflation") for hotel room rates and restaurant food.
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1238   zzyzzx   2024 Jul 22, 10:38am  

5 pack instead of the usual 6:

1239   zzyzzx   2024 Jul 22, 10:41am  

Shrinkflation in car batteries:


1243   AmericanKulak   2024 Jul 23, 5:53am  

It's not "Shrinkflation", it's "Right Sizing" - Cheatle's replacement at PepsiCo
1244   The_Deplorable   2024 Jul 23, 10:30am  

These people are trying to hide the fact that they are raising prices. And RISING PRICES is inflation.
1248   HeadSet   2024 Jul 24, 11:04am  

zzyzzx says





And it messes up cupholders and vending machines designed around the traditional can size.
1249   AmericanKulak   2024 Jul 24, 11:36am  

I walked down the soda aisle for the first time in a while and noticed the soda cans were much smaller than normal. More like airline sized.
1250   AD   2024 Jul 24, 9:14pm  

.

Coffee Prices Will Keep Rising into 2025, Roaster Lavazza Says

It’s not just weather, though, that’s driving up prices. Emerging demand in markets like China promises to keep supplies tight. There’s also a growing recognition that coffee traders and roasters have long been underpaying farmers, a trend some buyers are trying to reverse to make the industry more sustainable. Higher profits incentivize producers to keep planting coffee instead of other crops and allow them to reinvest in making their trees more resilient to disease and climate risks. If coffee prices don’t go up for growers, there won’t be any reason for them to maintain long-term production.

https://www.yahoo.com/finance/news/cup-coffee-already-expensive-even-110014980.html

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1251   Patrick   2024 Jul 28, 11:34am  

https://justthenews.com/nation/economy/vp-harris-cast-tie-breaker-vote-stimulus-package-leading-inflation-preview-her-admin


Vice President Kamala Harris cast the tie-breaking vote in the Senate for the first COVID-19 stimulus package in 2021 which led to inflation, in what critics call a sign of what’s to come in a possible Harris administration.

Harris, who is the President of the Senate, has cast the most tie-breaking votes in the Senate of any vice president, a total of 33 thus far. Her second tie-breaker was for the stimulus package at the beginning of the Biden administration, which has significantly impacted the economy, as inflation has skyrocketed.

Harris cast the tie-breaking vote in the Senate for the $1.9 trillion stimulus package in February 2021 before it was sent over to the House of Representatives and passed.

Following the passage of the stimulus package, inflation increased significantly.

The U.S. inflation rate was 1.4% in 2020, then jumped to 7% in 2021. President Biden repeatedly said he "inherited" a 9% inflation rate, which CNN called false.

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