Reply to U.S. Annual Inflation rose to 6.8% in November

Forum Index » Political Discussion

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Inflation is the mark of a strong rebound from the disaster left by the Trump administration. It is a global issue that our Fed, led by Trump Appointed Chairman Powell, will try to address.

The BEST way to deal with it is to pass the BBB act that has specific measures in it to deal with inflation. The GOP voted unanimously against it, despite knowing the economic benefits.

Now...who wants to keep inflation up? Biden? Nope. the GOP.[/quote]

Well, we did have this thing called a pandemic, although I suppose using your logic Trump is also responsible for all the global economic contractions in 2020, not just the US?

The economic recovery was already well underway by the time Trump left office. But you'll believe what you want to believe.

The problem is inflation. IT's as simple as that.[b] People's incomes are declining in the face of inflation[/b]. Most people don't live in Bethesda with 400k salaries. Inflation is rising faster in the US than in most countries, which does suggest there's other factors involving domestic policy that may play a role. Larry Summers was against the third rescue package as he was afraid it would stimulate inflation and it looks like he was right, and it's Biden and the Democrats who own the third rescue package in 2020. [/quote]

Wages are up significantly. Please show your notes here.[/quote]

DP here.

January: a 3.1-percent decrease in real average weekly earnings over this period.

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

December 2021: a 2.3-percent decrease in real average weekly earnings over this period.

https://www.bls.gov/news.release/archives/realer_01122022.htm

November 2021: a 1.9-percent decrease in real average weekly earnings over this period.

https://www.bls.gov/news.release/archives/realer_12102021.htm

October 2021: a 1.6-percent decrease in real average weekly earnings over this period.

https://www.bls.gov/news.release/archives/realer_11102021.htm

September 2021: a 0.8-percent decrease in real average weekly earnings over this period.

https://www.bls.gov/news.release/archives/realer_10132021.htm

August 2021:  a 0.9-percent decrease in real average weekly earnings over this period.

https://www.bls.gov/news.release/archives/realer_09142021.htm

[/quote]

You should at least tell people when you are adjusting for inflation.[/quote]

That's why it says *REAL* earnings, which by definition factors in inflation. [/quote]

Of course wage growth lags behind an inflation spike in the short term because wage growth isn’t uniform. Everybody paid last month’s prices but only a portion of the workforce got a new job  or a pay increase last month while most people had the same salary or hourly wage or fixed benefit as the month before. All of the latter experienced a real decline because their prices went up while their earnings didn’t. Their increases will come with new jobs or raises or COLAs. The fact that wage growth lags behind inflation is also proof that wage growth is not the cause of inflation. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics