Uh oh. Your wife is going to have to modify her data gathering techniques regarding inflation.... BREAKING: June CPI inflation rate falls to 3.0%, below expectations of 3.1%. - Core CPI inflation fell to 3.3%, below expectations of 3.4%.. - It's also the 3rd straight month with declining CPI inflation.
Nothing new here, carry on. It's even lost on you that what we are seeing now is in July. (shaking head)
Have you looked at the release? I have it in the June CPI thread. Dig in and decide for yourself. CNN just laid off a significant number of employees due to their biased reporting being rejected by the masses, going to be down to some sort of new entertainment site soon enough. I'm wondering if Entertainment Tonight will outdraw them too. Without CNN International, CNN would shut down here in the US.
LOL. Get back to us when they pay a billion dollar settlement for literally publishing fake news, hoss.
Feel free to correct what you think is incorrect in the CNN story. Just screaming 'Lamestream media! Fake news! Biased reporting!' means nothing.
Handpicked financial analysist to make it look like 2 rate cuts are coming between now and the end of the year. The better-than-expected inflation report further bolstered hopes that a Federal Reserve rate cut could come sooner than later and help make borrowing money less expensive. Interest rates have been planted for months at a 23-year high as a result of the central bank’s inflation-fighting campaign. “With another good CPI print under their belt, the window is open for the Federal Reserve to cut interest rates as early as September, and potentially again in December, assuming the inflation data continues to cooperate,” Skyler Weinand, chief investment officer at Regan Capital, wrote Thursday in a note to clients. Two rate reductions are not going to happen based on we having a slight reduction in inflation because the Biden Administration flooded the NE with gasoline as mandated by congress. They sold the 1,000,000 gallons of gasoline lowering gas prices in the NE, in one Virginia location the price at the pump went down from $5.09 to $3.69. Once the supply comes back into balance, there won't be any more CPI gasoline price reductions as we saw in May at -3.6% and in June at -3.8%. This isn't nationwide either as it is only in the NE which in turn affects the whole CPI. When Biden sold off from the SPR leading into the 2022 midterms to lower inflation, the Fed Reserve didn't lower into the temporary reduction. They won't reduce rates twice this year based on the one-time release of the NE gasoline emergency supply mandated by congress which has now been accomplished. We might see one more CPI gasoline price reduction for July, but as I reported in post #1 here, our July gas here has gone up 10 cents per gallon from before Independence Day until after the Independence Day weekend. Anyone living in the NE should enjoy their lower gas pump prices while they can.
Wait, you think that gas moved by $1.40 over 1,000,000 gallons of gasoline being released and that gas released in the Northeast stays there? Wow. That is literally 0.0007% (and yes, that is percent) of gas consumed in the US per year. And gas moves to wherever it can get the highest price.
Just reporting what a resident of Virginia says about his gas pump prices. Not that it matters even if it was a one off, the effect of the NE reserve being sold off lowering CPI gasoline prices will be easily seen by the Fed. That's all that matters in their decisions. I'd be shocked if the Fed starts rate cutting under current economic conditions which is precisely why I called out the CNN article and then explained at the request of rivergator.
No, you aren't reporting. What you are doing is drawing a causal link. You are making the claim that gas moved down that much due to an extremely small release of gas, by the scale of the worldwide markets, which set the prices. That is high grade nonsense. I suspect that you have no idea what the Fed's thought process is. For one, there is the fact that they don't just utilize one measure of pricing in coming up with their target. In fact, the preferred metric is actually PCE, which is at 2.6%. One reason for this is because the Fed recognizes the reverse causal relationship of some prices with interest rates, most notably, housing, which has largely been driving what above target inflation is remaining right now. I have no idea whether the Fed will lower rates. Neither do you. We got a report that actually seems to be doing what they are looking to do, bring down the inflation rate without collapsing the economy. That is all we know today.
Typical maga logic in this thread. Facts don't support your politics make up some that do and repeat them early and often. . Alternative Facts all day, every day.
Publix Profits in 2022 were 2.9 billion. Publix Profits after continuing gouge its customers in 2023 were 4.5 Billion. Why would you reduce your prices went you have a 50 % increase in profits and the Florida Attorney General spends her time suing the ACC for FSU instead of opening an investigation into Publix's price gouging
I’ll save the attorney general some trouble. 03012024 - Publix reports fourth quarter and annual results for 2023 Net earnings for the fiscal year ended Dec. 30, 2023 were $4.3 billion, compared to $2.9 billion in 2022, an increase of 49%. Earnings per share for the fiscal year ended Dec. 30, 2023 increased to $1.31 per share, up from $0.86 per share in 2022. Excluding the impact of net unrealized gains on equity securities in 2023 and net unrealized losses on equity securities in 2022, net earnings for the fiscal year ended Dec. 30, 2023 would have been $4.1 billion, compared to $4 billion in 2022, an increase of 1%. Earnings per share would have been $1.23 per share, compared to $1.20 per share in 2022. Net earnings and earnings per share were impacted by the additional week in 2022.
People like Publix. People get good service at Publix. People spend money at Publix. Publix is in the business to do all of the above and to make profits for shareholders. If people felt they were being price gouged, they would shop at one of the many alternatives. Why do you claim making a profit is a crime or how much profit can be made is a crime? Why do you think the Florida Attorney General should investigate a company for making too much money? If wrongdoing such as price fixing with competitors or price gouging was going on at Publix as you describe, I'm 100% sure the Florida AG would react. Living in Florida, I can see where it would be appropriate to investigate any businesses price fixing and price gouging after a catastrophic event such as a hurricane. Businesses aren't responsible for inflation. Like taxes, businesses pass along the added cost of inflation to consumers in the form of higher prices. Making profits is a good thing which doesn't necessitate investigation for doing so at the local, state, or federal level.
So, I stopped in to an Irish bar called lucky joes. 4.99 burger basket. Not sure how I feel about it though. The deal makes it too busy. 1 of the things I like about this place is the quietness at lunchtime
