Missing inflation data

[Chew Toy McCoy]

The Missing Inflation Data

The Biden administration is getting bad data and bad advice — but there’s a way out.

www.levernews.com

Like I and others have said on here already, you are creating a gaping blindspot in economic health if you don't include interest rate data but they stopped looking at this in the 80's. During the Reagan administration, you don't say? The repercussions of that are obvious and answers the "Why is everybody feeling bad about the economy?" question that the dipshits in DC can't seem to figure out.

 

[Yoused]

Then there are idiots who try to befuddle the masses with bullshit

Conservative NYT columnist busted after complaining about $78 hamburger at airport

Longtime conservative New York Times columnist David Brooks was buried under an avalanche of jokes, insults and fact-checks after he complained on X, formerly known as Twitter, about having to pay $78 at a New Jersey airport for a hamburger, french fries and a drink.Apparently attempting to make...

www.rawstory.com

who then generate a feeding frenzy of people tearing apart the silliness of it.

 

[Edd]

If it’s true people are feeling bad about the economy yet it’s supposedly doing well, I’d think rates of income vs cost of housing would be a significant factor.

But I never see that talked about specifically. It’s amazing to me that politicians almost never bring up runaway real estate prices, unless it’s in the context of affordable housing for low income folks, and even that’s rare.

 

[Herdfan]

If it’s true people are feeling bad about the economy yet it’s supposedly doing well,

There is an old saying, Lies, Damned Lies, and Statistics.

You can always find metrics that make something look a certain way in a certain light. But from an individual standpoint, the economy is not doing well. High interest rates are preventing people from buying houses and cars. I want a new truck, but I am not going to pay 5% interest when I am paying .9% interest on the one I have. The prices of staples at the grocery store are very high.

Sure you can tout that inflation is down. The doesn't mean prices went down, just that they won't go up as quickly. Gas is up. Energy cost in general are up. People are struggling and they will remember this in just over a year.

 

[Yoused]

Sure you can tout that inflation is down. The doesn't mean prices went down, just that they won't go up as quickly.

The reality is that the marketplace is effectively devoid of competition, so, prices will go up at the rate that CEOs decide to raise them. That has been the sum total of "inflation" for the past couple years. Voluntary profit taking, nothing more. Not inflation in the traditional sense.

 

[Edd]

The reality is that the marketplace is effectively devoid of competition, so, prices will go up at the rate that CEOs decide to raise them.

It sure feels that way, and I’ve said it many times since the pandemic. Competition seems non-existent somehow.

 

[Chew Toy McCoy]

What little competition we do have gets inflation through price fixing. It’s not very difficult to find out what your limited competition is charging and then charge the same.

 

[rdrr]

I got to start bookmarking articles that I find interesting on the economy, because it relates to this topic. I apologize in advance for not having the sources, so please take my recall with a grain of salt. I do have one personal account at the end of this.

A lot of the prices today are the result of a coordinated industry price setting. One article stated that grocery prices have been pushing higher from as study for the food supply industry that came out of lessons learned from the pandemic. Bottom line people will adjust and pay the inflated prices. They found that if they had to raise a price because of supply chain issues by 1 or 2 percentage points, why not raise it by 5?

The second article was based off of lessons learned from the auto industry. The dealership have purposely kept their lots semi empty, in order to create a perceived shortage. Of course the current UAW strike isn't helping right now, but the bottom line is that with the lots looking emptier, it create the ability to increase the MSRP, go over MSRP, and reduce the amount of choice and incentives.

Finally from my own personal experience... We have one vendor during the pandemic who sent us multiple letters that, "due to the supply chain issues" they were going to raise the prices by X percent. One of our business office folks has calculated it to 23% overall! They of course posted record profits. We recently had a meeting with them, and they stated that the supply chain issues have pretty much been resolved. When we asked if they will readjust their prices back to pre-pandemic levels, they of course came up with multiple excuses and pointed to the inflation. I guess we should be expecting yet another letter.