Inflation is Transitory! Inflation is Transitory! Inflation is Transitory!

Meanwhile, we have Captain Dipshit over on the right that they all worship rambling incoherently about sharks and batteries, giving speeches like “Gettysburg, wow” and messing up everyone’s names every other day and somehow he is all there according to MAGA, lol. Freaking hilarious. Dude doesn’t even realize he’s running against Biden since he constantly calls him Obama.

 

Those crazy liberals at the World Bank

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

 

Neither does Yellen apparently.

 

According to the X axis of the graph inflation was very low in 2020 during Covid shutdown it began increasing 2021 following the lockdowns peaking 2022 after which it began declining significantly. While the current rate (slightly above 3%) is still higher than it was in 2020 the rate of inflation is significantly below its peak of 2022 when it was close to 9.5%.

 

Transitory means temporary. In 1973-74 and again in 1979-1980 it was at or near double-digits for two-year periods twice. In 2022 after peaking somewhat over 9 percent for a couple of months it began declining. While the rate didn't decline suddenly it did decline significantly from its peak.

 

Not only is this 100% correct, but polling consistently shows the felon favored about 55-35 on the economy.

America is doomed.

 

Lol... "it's the economy, stupid?" Do you remember that phrase? Yeah, I'm not alone and We The People don't need some propaganda News article to tell us what we already know. The economy sucks, and your boy Joe-bama has got to go... He's on his way to the great Satanic furnace of Hell.

 

Far more likely destination for the rapist, thief and serial liar....you know, your guy.

 

I have believed for years that Republicans are borrow and spend, and Democrats are tax and spend. Which means they have one thing in common: SPEND!

 

Assuming you mean at or below 2% vs actually at zero percent - at this point the fact that inflation is materially above 2% is almost entirely due to the CPI methodology used for housing and rents.

Consumer Price Index for All Urban Consumers: All Items Less Shelter in U.S. City Average

inflation for everything else has been 1-2% for the last 2 years.


actual apartment new rents have been basically flat for 2 years

Apartment List National Rent Report

But CPI rent lags new rents significantly and in this case it is taking years to catch back up.

There is really nothing that can change the fact that cpi housing will be higher than normal for a while, apart from a housing / rents collapse.

It’s like watching a gator football loss on tape delay - the outcome has been set, at this point you are just watching it play out.

 

The US Department of labor defines inflation as “the overall general upward price movement of goods and services in an economy.” With that understanding, the rate of inflation is the percentage increase in prices over a given period of time.

I think it is accurate to say the rate of inflation is transitory because it is constantly changing. The rate at any point in time doesn’t remain that for very long.

However, since we have had almost 69 years of nonstop inflation, I’m not sure it’s accurate to say that inflation as a whole is transitory.

This article explains more technical theories of inflation.

Britannica Money

BTW, this is not agreeing with the details of the OP.

 

In the last 100 years, there was 12 years of deflation, one year 0%, and the rest inflation.

The 10 Highest Annual Inflation Rates in U.S. History

1. 1917: 17.84%
2. 1918: 17.28%
3. 1920: 15.63%
4. 1919: 15.24%
5. 1947: 14.39%
6. 1980: 13.55%
7. 1979: 11.25%
8. 1974: 11.06%
9. 1942: 10.92%
10. 1981: 10.34%

The 10 Lowest Annual Inflation Rates in U.S. History

1. 1921: -10.94%
2. 1932: -10.30%
3. 1931: -8.93%
4. 1922: -6.16%
5. 1933: -5.19%
6. 1930: -2.67%
7. 1938: -2.03%
8. 1927: -1.93%
9. 1939: -1.30%
10. 1928: -1.15%

The aftermath of wars seems to bring high inflation. Depressions bring deflation.

 

Consumer Price Index for All Urban Consumers: All Items Less Shelter in U.S. City Average



Excluding housing, above average inflation was entirely between Dec 2021 and June 2022. Since then it has been below 2%.

 

If only we could build a multi-trillion dollar wall on the border with Mexico, we could stop inflation and keep the brown people out who are picking our vegetables and re-roofing our houses. Then we could be great again, with leaking roofs and no vegetables.

 

Obviously, the inflation was initially due to Covid--both the development of the vaccine and the effect of quarantines on the economy. Once Covid subsided, there were additional (and smaller) costs associated with re-starting the economy. Hence the slow reduction of inflation.

 

Why would anyone want to read a long post by you?