I’m pretty sure at this point you’ve made it clear you don’t know what you are talking about, and should just stop digging your hole. But I’ll tell you what, find me a credible financial news report that says inflation currently is 25% above the feds target and I’ll admit I was wrong…
oh…. Looky here, it’s the Atlantic Fed noting we are 0.5% above target. You should write them at let them know how real conservative internet math is done…lol Underlying Inflation Dashboard
I dont need idiot journalists to tell me that an inflation rate of 2.5% is 25% higher than an inflation rate of 2.0%. Jeez, now I see how you clowns all fell for that “inflation is transitory” bullshit since late 2021. Archigator, going back to your question on annuities on the other thread. Please take note on here to not take any advice from our resident lefties here.
Aging Gators 3rd grade math teacher: "I let you retake this test on percentages, and your score went from 10% to 20%" Aging Gator: " Awesome! That's like 100%! I'm the smartest!" Teacher: "I'm bumping this back down to 10%."
I'll try to explain it to you again. If the inflation rate is at 2.5% and the target is 2.0% you don't say inflation is 25% higher than the target rate because people would think you are saying inflation is at 27%. When inflation increased from 1% in July 2020 to 8.5% in July 2022, people didn't say the inflation rate was 750% higher than it was 2 years ago because that would be very confusing. Surely you can understand this.
It's not just confusing, it's just wrong. Inflation is the measurement of the price increase, the rate of change, of the cost of a set "basket of goods". That basket of goods never cost 25%, or 750%, more than it had a year ago, so saying it way would simply be wrong. He's trying to apply a rate of change to numbers that are already expressed as a rate of change.
This isn’t semantics at all. You threw out some off topic comment about a Trump “gift” to corporations. Which was unclear what point you were trying to make when the discussion was a comparison between Stock market returns between Trump and Biden. I reminded you tax cuts are not gifts (unless you believe the GOV) owns everything. What was the point of your first reply to me? Explain it for the people in the cheap seats.
But in reality, to use the example you used, if the interest rate goes from 4 to 8 it’s doubled and you are paying twice as much interest. Maybe that wasn’t the best example to prove you point.
QUOTE="coleg, post: 16669773, member: 18961"]Precisely as expected. Nearly every statement poster made in this thread has been shown to be garbage, but it's very telling when "dead horse and no, nuff said" is his best rebuttals.[/QUOTE] Waste of time to discussing your garbage site. Garbage in is garbage out. Dead horse.
Really, still on a semantic use of gift. OK sport, A gift is something given without a payment ɡift/ noun 1. a thing given willingly to someone without payment; Now of course, given it was from a known felon and grifter, perhaps you have proof that the corporations actually paid for the tax cuts which then we'd reclassify from a gift to a bribe. As to the point of the first reply to your defense of the twice-impeached adulterer's wonderful economy, you'd be foolish to believe that a 40% corporate tax cut would not have an effect on the economy.
You need to reread the dashboard chart: Both the core PCE and the core CPI are above the 2.0% target. The Feds preferred measure is the core PCE but they consider both hence this dashboard. The core PCE is 2.6%. The core CPI is 3.3%. The dashboard shows both in the red which means both exceed the 2.0% target by more than .50%. This core PCE graph shows what has happened month to month for the first 6 months of 2024: From inflation targeting to average inflation targeting | FRED Blog (stlouisfed.org) January 2.93885 February 2.83417 March 2.83229 April 2.78569 May 2.62052 June 2.63028 The dashboard from your link will have been flashing red the whole first half of 2024 with a slight uptick in June over May after 4 months of downticks. Put it any way you want, both the core PCE at 2.6 and the core CPI at 3.3% are still too high for the Feds to start cutting interest rates. The Feds agreed with the Biden Administration that inflation was transitory and would come down without intervention which brought the Fed into fighting inflation at least 6 months too late. I don't think the Fed will compound mistake 1 by making mistake 2 by cutting rates before seeing several months of good data before cutting.
No, it was an equivalent example. Yes, you are paying twice as much interest but your loan payment didn't double, just the interest you are paying did. It's the same as if the inflation rate goes from 2% to 4%, you are not paying twice as much for stuff, it's just the increase in what you are paying is twice the increase of the previous year.
Keeping more of the money I or a corporation owns from the Government is not a gift. Only in the mind of someone who thinks the GOV own all and we should be glad they let us keep what they do. You now try to change the conversation to who paid for it. The fact that you have to throw in some comment (twice impeached adulterer) tells us a lot. BTW it was hardly some defense of Trump’s economy, more like pointing out at the same mark market returns were about par with Biden’s. We been told and told how bad Trump’s was and how great Biden’s is yet by that metric they about the same.
Well I didn’t say you paid twice the payment I clearly said you paid twice the interest. BTW not saying inflation rates doubling means people pay twice as much.
I don't apologize for the truths about the cult leader. If you choose to believe that a 40% tax reduction is not a gift is your personal semantic take. IDK.
Oh totally agree there. Trouble with inflation is when you have big price increases year over year the base price is reset higher. As inflation drop the rate of increase changes but the base price doesn’t drop. To the consumer they are still paying a whole lot more than they were 2-3 years before. That’s why people who opine about how much inflation has come down are just a bit disingenuous. Technically they are 100% accurate, but they sometimes seem to ignore that the price for a product is still much higher than it was a few years before. Not suggesting you are doing this FWIW.
Not semantics. It was my money to begin with. Taking less isn’t a gift, it’s just me or a company keeping more of what was already OURS!
Federal Reserve meeting will take place on 7/30 and 7/31. This was from their release at the last meeting: FOMC Minutes June 11–12, 2024 (federalreserve.gov) The uptick in the PCE is not what the Fed is looking for to reduce rates. They will want to see months of sustained lowering inflation data before cutting rates. Don't take my or supposed expert's opinions, take the comments from the Fed. “Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been modest further progress toward the Committee’s 2 percent inflation objective. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals have moved toward better balance over the past year. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5¼ to 5½ percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.”
