AOC says inflation is propaganda

Wow, somebody sure is salty that their nonsense got exposed. But to continue to expose it, a family that buys chicken, milk, bread, cereal, and cheese each week has, on average, seen 3 of those 5 items decrease in price over the last year. Depending on the relative proportion of spending, that would likely result in a decrease in price for your imaginary family that only eats and drinks 5 items (which, BTW, is not how anybody I know eats, but maybe that is a you thing).

To point 4, if nobody buys those items, they don't show up in the figures (which those items you listed don't) or show up with extremely small weights.

 

you got me. The Jones are indeed a real family that only eats chicken. You have ninja skills in the debate forum, using your cunning logic and deductive reasoning for all to see.

But…

But, you’re still wrong because the Jones have less disposable income at the end of the year, and all the indexes in the world aren’t going to change that. It’s called real life bro.

I am going to guess that you are the type of person who walks blindly into a crosswalk without looking for cars because you have the mythical “right of way” that protects you from the 2500lb rolling pedestrian death metal. Your family is going to be so rich!

 

It is funny when you mock your own stupid example but likely don't realize it.

And the point being made, correctly, is that groceries as a whole increased 3% over the year. And no amount of your hopes and feels change that. It's called real life bro. And your feels don't change the price of eggs.

That sounds more like projection to me. Let me know when more of your predictions start coming true and then your massive self-confidence in your intellect might be more than funny.

 

BTW, this whole thread is a good example of prospect theory. People are presented with the prices, based on data collected around the country and weighted based upon average basket size of different items, as updated fairly regularly. But people don't "feel" like those numbers are accurate. That is because price increases due to inflation are losses in a consumer's mind, while lower prices are classified as gains. And as even the most basic understanding of prospect theory would tell us, losses loom larger than gains. Common bias in a consumer's mind.

 

First, a bunch of right wing nuts don’t like the CPI data and I am supposed to take that as some kind of something? Same nuts think know the election was stolen. You’ve been absolutely schooled on this thread with data and all you responded with (as I showed above) were insults and your own gut feelings.

Second, It’s amazing how Biden’s election drove prices up all over the world at higher rates than here in the US. Correlation isn’t causation. There is also tons of data showing that inflation in 2021 was broken out as follows:

2% normal inflation
3.5% profit taking
3.5% supply constraints
1.5% demand stimulus driven
9%. Total 2021 inflation



How Much Did Supply Constraints Boost U.S. Inflation? - Liberty Street Economics

 

no, the mocking is all on you for thinking my example was something more than….an example.

Not a single consumer gives a crap about groceries “as a whole”. Not one. But the mom who needs eggs does care about the cost of eggs. You live in a collective, hive reality which explains your myopic views. You are a tiny minority.

as for my “feels”….well, when you learn to read and listen, you will realize that the public thinks your CPI argument is ludicrous too.

More in U.S. Say Inflation Is Causing Financial Hardship

Fox News Poll: Voters say White House doing more harm than good on inflation

https://www.newsnationnow.com/business/your-money/poll-inflation-economy/

Ignore the people, keep being a sheep.

at least I have intellect…..and look……you’re STILL wrong!

 

This is true. Along those same lines consumers also remember when eggs were $1.29 a dozen a few years back, so when they see $2.99 now they think the price has nearly tripled (without an accurate time frame). But that is the point of those on here arguing about the relevancy of the CPI. It is not a consideration on 90+% of consumers. Individual expenditures are all that matter.

 

Do you think the family struggling to make ends meet on a combined $60k family income give a rats ass how much the prices of eggs have increased in Brazil?

you seem to keep arguing with yourself here.

 

There is no debate going on. You're complaining about inflation and misstating the last year's impact.

If you gave a rats ass about a struggling family making ends meet on a combined $60k family income you would support Biden's budget to shore up investment in lower housing costs, expand housing supply, improve access to affordable rental options and homeownership, and advance efforts to end homelessness. You would have supported extending low income benefits that expired after covid that were helping people in need. You would have supported an expanded child tax credit. Anti-poverty under the guise of covid help was working. It's been cut.

You're interested in political scoreboarding not helping a struggling family making ends meet on a combined $60k family income with your vote. What a joke... unless of course you support any of Biden's policies.


FACT SHEET: President Biden’s Budget Lowers Housing Costs and Expands Access to Affordable Rent and Home Ownership | OMB | The White House.

Biden built the strongest safety net in U.S. history. Now it's collapsing around him.

 

wrong. I posted the CPI for food for 7 years, not 1. It was the trend I was drawing your attention to. Further, I keep saying the CPI is irrelevant and you and your herd of sheep keep posting CPI graphs in response. You are arguing with yourself.

 

oxymoron of the year

 

Nah, you are still putting down your own contribution to this thread, with the claim that you made that your example is representative. Sorry for wrecking your attempts.

Eggs are cheaper over the last year. Fact. Sorry. So if there is this mythical consumer that only cares about eggs, they would be thrilled.

Lol, your counter to this all being about your feels is to present what other people are feeling too? Okay. The data on actual pricing has been presented. All you have to counter it are your feels.

Haha, sure you do (sarcasm).

 

"A few years back." You mean nearly 20 years ago? And the price now for a dozen eggs is $2.04.

Egg Prices Adjusted for Inflation | US Inflation Calculator

 

a dozen eggs were about $5.00 at the beginning of 2023. In Jan 2022 they were about $2.00. They were about $1.30 in October 2019. You are whacked.

Average Price: Eggs, Grade A, Large (Cost per Dozen) in U.S. City Average

 

your reading comprehension level is around middle school level, along with both your grasp of logic and your analytical skills. You get an A+ for imagination, but alas you still come out wrong. Try eating tuna.

 

Haha, says the guy trying to convince everybody that prices aren't right because he feels like they aren't right. Very logical argument there.

 

So, just checking, now you believe CPI data? Glad we decided that was real data.

 

GL logic: Says he posted 7 years of CPI to draw my attention to the rise in price and then next sentence says the CPI is irrelevant. The dazzling debate skills.

 

Your chart shows eggs are $2. Are you even trying?

 

Remember what I said buttercup, read. I don’t know if it is your lack of reading skills or lack of honesty.