Reply to May CPI 8.6%

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Classic Stagflation is in place yet many on this board ignored and chastised anyone who brought this up last fall.  This is worse than 1979 and I anticipate double digit numbers by the end of the summer.[/quote]

It’s not stagflation. You don’t know what stagflation is. [/quote]

My Masters in Economics from Stanford says otherwise.[/quote]

We don’t have a stagnant economy, so no stag, just inflation. Unemployment is very low. Economic expansion continues. Just high energy prices. [/quote]

Expansion? You seen the last 2 quarters of GDP????[/quote]

Continued job growth, income growth, nominal GDP growth, but offset in real GDP by inflation adjustment. Inflation is a real problem. No one is saying it isn’t. But otherwise the economy is still recovering from the 2020 recession. We are as close to full employment as it gets. [/quote]

You are ignorant. Real earnings are DECREASING under Biden:

https://www.bls.gov/news.release/realer.nr0.htm

Jesus, pay attention to the news please. Real earnings have gone down 3% YoY due to inflation under Biden's watch. Workers are now worse for than a year ago.  Stop conflating income with actual real earnings.  This is terrible news.

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