It's time to celebrate! - inflation's back under 2%.

Discussion in 'Economics' started by Nighthawk, Jan 26, 2024.

  1. %%
    YES we celebrate dont live in a socialist or commie mess with those numbers LOL.
    One lady said ''dont tell me worry does no good, most of the things i worry about never happened '' :D:DLOL
     
    #11     Jan 27, 2024
  2. Aisone

    Aisone

    Not in the least, because prices would still be 1000% higher than the previous year. Unless there would be significant deflation in that scenario, there would still be no reprieve for consumers.
     
    #12     Jan 27, 2024
  3. destriero

    destriero


    You do if you live in Caracas.
     
    #13     Jan 27, 2024
    murray t turtle likes this.
  4. Overnight

    Overnight

    You are showing great restraint here, and it is to be applauded that you are sticking to your guns, so to speak.

    It reminds me of the story of L. Prosser, from The Hitchhiker's Guide...(Lifted from another source...)

    ----------------------------------
    "Curiously enough, though he did not know it, he (Prosser) was also a direct male-line descendant of Genghis Khan, though intervening generations and racial mixing had so juggled his genes that he had no discernible Mongoloid characteristics, and the only vestiges left in Mr. L. Prosser of his mighty ancestry were a pronounced stoutness abut the tum and a predilection for little fur hats..."

    The author often tells us things about his characters that the characters themselves do not know. In this case, we learn that Prosser is a descendant of the horseback warlord, Genghis Khan. This sets up dozens of small jokes like:

    “Some factual information for you. Have you any idea how much damage that bulldozer would suffer if I just let it roll straight over you?”

    “How much?” said Arthur.

    “None at all,” said Mr. Prosser, and stormed nervously off wondering why his brain was filed with a thousand hairy horsemen all shouting at him.

    -----------------------------------


    The point here is...You WANT to rage, like Mr. Prosser, but your mind (and physical self perhaps) needs a break from it as you stated. It is good that you are sticking to that plan.

    But I know that the thousand hairy horsemen are still within you. :)
     
    #14     Jan 27, 2024
  5. ElCubano

    ElCubano

    I agree. Prices have not gone down from what I’ve seen. How can those numbers be right?
     
    #15     Jan 28, 2024
  6. SunTrader

    SunTrader

    They have where I live.
     
    #16     Jan 28, 2024
    murray t turtle likes this.
  7. in 2020 i paid $4 for a gallon of milk and $6 for 20lb of flour. Now I pay $6 for the milk and $11 for the flour.

    The current approach to how inflation is measured is flawed in a fundamental manner as shown in the above example. Oh and don't ask me how much rent has gone up. It pales compared to the food staples.
     
    #17     Jan 28, 2024
    theapprentice and mervyn like this.
  8. SunTrader

    SunTrader

    Gallon of milk for me is back again around $4. Similarly with eggs, bread, butter etc.

    I don't buy flour, of any size - especially 20lbs!!! - so can't comment on that one.

    But in either of our purchasing cases it is all just anecdotal.

    As for rents also can't comment but unless it gets raised year after year, which some unfortunate people do experience, its a one-time event till years into the future.

    What I use to gauge inflation overall, is to watch energy costs, which of course then get factored into almost everything else we spend our money on. And Crude currently is right around its long term historical average price.
     
    #18     Jan 28, 2024
    murray t turtle likes this.
  9. Overnight

    Overnight

    You're in what I call a hot zone. That is not what those products cost in other areas of the country.

    You're being gouged..Blah!
     
    #19     Jan 28, 2024
  10. %%
    EGGS lower\ gas lower\apples lower soem LOL;
    dont buy flour myself ..............
     
    #20     Jan 30, 2024