U.S. Annual Inflation rose to 6.8% in November - the highest in 40 years

[Anonymous]

Steak is not exactly an essential. Welcome to planet earth where it is ridiculously inefficient to grow cattle for beef. We are going to finally see the true cost of things.

[Anonymous]

Anonymous wrote:Steak is not exactly an essential. Welcome to planet earth where it is ridiculously inefficient to grow cattle for beef. We are going to finally see the true cost of things.

Ahhhh...... democrats are in such denial about the problem of inflation they they are now arguing that inflation is good because it will help the environment. Holy S. Are you really gonna run on that platform? Good luck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Steak is not exactly an essential. Welcome to planet earth where it is ridiculously inefficient to grow cattle for beef. We are going to finally see the true cost of things.

Ahhhh...... democrats are in such denial about the problem of inflation they they are now arguing that inflation is good because it will help the environment. Holy S. Are you really gonna run on that platform? Good luck.

They should do it! Prime grade beef is graded as such based in marbeling of fat, which is white, meaning white supremacy.

[Anonymous]

Anonymous wrote:Steak is not exactly an essential. Welcome to planet earth where it is ridiculously inefficient to grow cattle for beef. We are going to finally see the true cost of things.

We’d all be better off if insects made up 50% of our current meat based protein consumption instead of beef/chicken/pork. Even a 50% decrease would be enormous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Steak at Walmart - not Whole Foods/Balducci/all grass-fed organic POOR PEOPLE'S STEAK - is now $20 and locked up in its own cage.

Biden needs to take this seriously.

https://www.tiktok.com/@oakwood19136/video/7061652820252200239

USDA Prime ribeye is NOT "poor people's steak". That's also an almost 2lb steak. The price shown of $12/lb is also cheap for that particular cut of meat. These are all facts.

This is not prime, it's USDA choice. This is expensive for choice grade beef.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Steak at Walmart - not Whole Foods/Balducci/all grass-fed organic POOR PEOPLE'S STEAK - is now $20 and locked up in its own cage.

Biden needs to take this seriously.

https://www.tiktok.com/@oakwood19136/video/7061652820252200239

USDA Prime ribeye is NOT "poor people's steak". That's also an almost 2lb steak. The price shown of $12/lb is also cheap for that particular cut of meat. These are all facts.

This is not prime, it's USDA choice. This is expensive for choice grade beef.

Exactly. I recognize this exact packaging. This cut used to be about $6.99 in our area not long ago.

[Anonymous]

Just asking a simple question. Biden still blaming 'supply chain'. Three months ago he admitted in a live interview it was sending out too much stimulus cash.

[Anonymous]

Jesus, stop clinging to supply chain issues. LOOK AT THE FED BALANCE SHEET. Here:

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm


It is truly remarkable how dumb the public and politicians are wrt basic econ. The Fed literally has a balance sheet now that is equivalent to almost half the entire GDP of the entire country. Stop talking about non-relevant issues like the supply chain or 'CoRpOrAtE GreEd!' as the main drivers of inflation. The govt IS the cause of the problem becsue they expanded the supply of money by a gargantuan 50% in about a year. The evidence is all over the Fed's balance sheet.

[Anonymous]

jsteele wrote:

Anonymous wrote:

jsteele wrote:

Anonymous wrote:

Anonymous wrote:This is math illiteracy. Just because increases went down doesn't mean raw inflation went down. Lol, increases are increases - just go look up the CPI #s from Oct, Nov, and Dec....sorry, but you're wrong. The CPI is increasing, and Americans absolutely feel it.

If I have 10 widgets this quarter, and make 11 widgets in the 2nd quarter, I have a 10% increase. In the 3rd quarter I make 12 widgets, therefore my production over Q2 is only 9.1%, which is less than the 10% increase compared to the change over Q1-Q2. However, in raw terms I still am making more widgets in Q3 compared to Q2 and Q1, it's just that my denominator is increasing which makes it appear the rate of change is slowing. That still doesn't change the fact that the overall quantity of the denominator is still getting bigger and I am making more widgets. Inflation is NOT lower. It IS still increasing. You're just trying to claim the rate of change numbers somehow mean inflation is decreasing. It's not. Increases are increases.

You are confused. Inflation is a measurement of change on the underlying price, it is not the price itself. Price may continue to increase even if inflation holds at a steady value and does not change. In this case, inflation did indeed go down in December relative to November, even if the raw underlying price went up. Jeff's comments were on inflation, not underlying price.

Exactly. I didn't comment on CPI. I didn't comment on the annual rate of inflation. Here is the entire exchange:

jsteele wrote:

Anonymous wrote:Last day of December tomorrow - we'll get inflation numbers in 10 days. Any bets?

Gas prices have gone down so inflation will likely be lower.

CPI is not mentioned. Annual rate of inflation is not mentioned. All that is mentioned is the inflation number for December. I predicted it would be lower. It was lower. The first poster above would rather fight strawmen than use basic reading and math skills.

Lol, I'm the original PP that called out your bad takes - one- or two-month fluctuations mean *nothing*. The monthly inflation rate dropped from 0.9% in June to 0.5% in July to 0.3% in August...and then was back to 0.9% in October and 0.8% in November. That's why people look at the CPI on a YOY basis - and this increased from 6.8% to 7%. Question for you, Jeff: do you also think that stocks are a great investment if they go up today and a terrible investment tomorrow if they go down??

Since businesses eventually have to pass on costs to consumers, PPI is considered a leading indicator of where the CPI is going. PPI was 9.7% for 2021 (i.e., above the 7% for the CPI), meaning there are likely more consumer price increases coming.

I was asked a very specific question: what will the December inflation number be? I gave a very specific answer: it will be lower. I was correct and the number was lower. You can have whatever discussions you want with whomever you want to have them. But I am not interested. You can LOL as much as you want, but I was still correct and you were wrong to suggest otherwise.

Inflation isn't looking to great these days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Steak is not exactly an essential. Welcome to planet earth where it is ridiculously inefficient to grow cattle for beef. We are going to finally see the true cost of things.

Ahhhh...... democrats are in such denial about the problem of inflation they they are now arguing that inflation is good because it will help the environment. Holy S. Are you really gonna run on that platform? Good luck.

NP. At least the Dems have a platform! The GOP just has three word chants.

[Anonymous]

Anonymous wrote:Jesus, stop clinging to supply chain issues. LOOK AT THE FED BALANCE SHEET. Here:

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm


It is truly remarkable how dumb the public and politicians are wrt basic econ. The Fed literally has a balance sheet now that is equivalent to almost half the entire GDP of the entire country. Stop talking about non-relevant issues like the supply chain or 'CoRpOrAtE GreEd!' as the main drivers of inflation. The govt IS the cause of the problem becsue they expanded the supply of money by a gargantuan 50% in about a year. The evidence is all over the Fed's balance sheet.

Yes, but didn’t the Fed take on a huge balance sheet so that America wouldn’t enter a Great Depression scenario after the financial crisis in 2008? You know, 2008 when Wall Street was creatively bundling bad house loans and selling them then tanked the economy. What is also known as corporate greed. But perhaps we don’t think about it because nobody did time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Jesus, stop clinging to supply chain issues. LOOK AT THE FED BALANCE SHEET. Here:

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm


It is truly remarkable how dumb the public and politicians are wrt basic econ. The Fed literally has a balance sheet now that is equivalent to almost half the entire GDP of the entire country. Stop talking about non-relevant issues like the supply chain or 'CoRpOrAtE GreEd!' as the main drivers of inflation. The govt IS the cause of the problem becsue they expanded the supply of money by a gargantuan 50% in about a year. The evidence is all over the Fed's balance sheet.

Yes, but didn’t the Fed take on a huge balance sheet so that America wouldn’t enter a Great Depression scenario after the financial crisis in 2008? You know, 2008 when Wall Street was creatively bundling bad house loans and selling them then tanked the economy. What is also known as corporate greed. But perhaps we don’t think about it because nobody did time.

So what? There was also a Savings & Loan crisis in the late 1980s. Dems need to focus on the now, not the past.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Jesus, stop clinging to supply chain issues. LOOK AT THE FED BALANCE SHEET. Here:

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm


It is truly remarkable how dumb the public and politicians are wrt basic econ. The Fed literally has a balance sheet now that is equivalent to almost half the entire GDP of the entire country. Stop talking about non-relevant issues like the supply chain or 'CoRpOrAtE GreEd!' as the main drivers of inflation. The govt IS the cause of the problem becsue they expanded the supply of money by a gargantuan 50% in about a year. The evidence is all over the Fed's balance sheet.

Yes, but didn’t the Fed take on a huge balance sheet so that America wouldn’t enter a Great Depression scenario after the financial crisis in 2008? You know, 2008 when Wall Street was creatively bundling bad house loans and selling them then tanked the economy. What is also known as corporate greed. But perhaps we don’t think about it because nobody did time.

No. Go look at the link, lol. The balance sheet was about 4x smaller after 2008 than it is now. People don't get just HOW massively bloated the Fed is right now.. It is gargantuan and completely unprecedented. That's why there is so much inflation.

[Anonymous]

Mr., we could use a man like Paul Volcker again.

[Anonymous]

How did the fed balance sheet cause inflation in Europe and Canada?

Any of you Economic savants care to explain this?