Inflation rates

June was 3.0%
July was 3.2%
August was 3.7%

Anyone see the trend?

6 Likes

Umm, yea add a another digit or two to your numbers. I’ve been seeing a dozen eggs at or above $8 to $10 for a long time now.

Holy crap. Cost of living is high in your area!

A dozen eggs at any of my local stores is under $2.

1 Like

Yes, we are a bit above the 2% target inflation rate. The only other thing to note is that 3 months does not make a trend.

Wait, I thought they keep saying that the inflation rate is going down? :man_facepalming:

The problem is whatever the prices are now, they are the new “lows”.

Groceries have gone up at LEAST 50% in the past year and a half… But Bidenomics is great!

4 Likes

Same here. They were crazy expensive earlier in the year because the bird flue had wiped out all the hens. They’ve recovered and back to normal.

Inflation numbers and what is going out of my bank account do not line up. Inflation numbers are underinflated, lol.

2 Likes

The rate of inflation in a 1 to 5 year time span has about as much to do with the sitting President’s party affiliation as the price of gasoline in the same time frame does. That is, nada, zero, zilch.

These are global conditions that cannot be affected by a short term change of President’s party affiliation in a single country.

Yeah, well I disagree. Policy matters. Spending matters. Trade relations matter. War matters.

4 Likes

Building on the price of gasoline statement, many people like to compare the price during Trump’s last years with the current price. That is absolutely crazy and has nothing to do with Trump or Biden.

During Covid, nobody was driving or travelling (worldwide). The price of gas therefore plummeted to crazy lows. Many US oil companies and the companies that support them went out of business and filed for BK. Gas was cheap because nobody was buying it! Supply and demand at work!

Now after Covid, demand has come back, but there are fewer US companies (and the companies that support them) to actually drill and refine oil. And the ones that are still around are in no hurry to produce more oil because they need the current higher price to survive and make a decent profit.

Biden may have closed off a few areas for drilling, but the truth is that many of the areas open for drilling are not being drilled anyway. And that is because the US oil companies do not want to overproduce and drive the price down!

Trump spent plenty! The whole government did during Covid. That is what started the the escalation of the inflation rate.

What exactly have we changed with trade relations between Trump and Biden?

The most prominent war right now (Ukraine VS Russia) has affected inflation, food, and fuel prices around the world. Are you saying that the current President of the US affected the decision of Russia to invade another country and start a war?

I dunno, maybe empirical evidence is enough for me.

COVID Policy is still policy.

2 Likes

My bet is the chart would look almost identical regardless of which tribe the sitting President belonged to.

Sure about that? The president has an incredibly amount of control over the price of gas and oil.

What happens when the president declares a war against oil production from his very first day in office?
Trump did everything in his power to increase and incentivize domestic oil production, and under his term, we were actually exporting oil for the first time ever. This drove down our oil prices dramatically (simple supply and demand)

Biden has done nothing but kill domestic oil by penalizing, rejecting oil drilling requests, shut down oil pipe lines, etc. What happens when the country has to once again turn to other countries for our supply?

5 Likes

I’m sorry, but you are just plain and simply wrong.

Yeah, that was the corporate media and political spin from day one. “Out of my control…it’s Russia Russia Russia”.

Facts are, there is not enough talent at the top to create a solution. Have you taken a peek at his cabinet?

Large eggs are $2.19/dozen at Wynns Market in Naples.

1 Like

It’s not spin when it is the truth. Do you honestly think Russia would not have invaded another country if Trump won a second term? Why?

And just as importantly, do you not think massive government spending around the world during Covid would not have led to higher inflation around the world if Trump won a second term?

Yeah, NOW, but it wasn’t that long ago we were at $4 to $6 doz in MN.

1 Like

No, I do not think he would have invaded. People like Putin only responds to strength. Just like Trump ended ISIS with a policy change, I believe he would have pivoted on Russia with something substantial. Who can say what that would be? Who would have predicted the Israeli-Saudi peace deal? My confidence level is near zero with Biden on the Russian front.

He would not have signed the 2021 Stimulus Bill for starters.

Do you recall Trump saying “the cure cannot be worse than the disease”? He was trying to save the economy, of course he was massacred for that position for political reasons, not what was best for the country.

3 Likes