US Core inflation level lowest in 3 years

Come on man, everything is awesome! Americans continue to pile up credit card debt, edging close to $1 trillion

 

Items that spiked due to supply chain issues (lumber, eggs, etc) pretty much round tripped from their crazy high prices down to normal (or at least normal levels of inflation).

Otherwise a substantial amount of inflation is tied to wage gains and already baked in to prices. To go negative on the index would likely mean layoffs and business closure.

Real estate does have plenty of froth, and those gains happened in a pretty quick timeframe, so a correction could theoretically happen without too much pain to the broader economy. Problem is nobody really thinks that’s going to happen, and the longer RE prices stay high then you build portfolios with higher risk (so a correction actually would bring pain to the broader economy… don’t want a repeat of ‘07).

 

The metaphor is accurate…. you may not like it, which is fine.

The spin that is put on on behalf of this administration is hilarious. “Great news! Mortgage rates slowing!!!” frequently articles have the silver lining as part of the headline. Republican as POTUS? headlines scream “Ugly side of current economy “

 

Spot on. If the situation were reversed, pub potus would probably have been impeached by now and THFSG would be in total meltdown mode.

 

LOL I remember my first day on THFSG.

 

I’m saying a prayer of thanks right now that you are not on the Fed BOG right now.

 

The oil companies are making about 30 cents a gallon more than they historically have on refining. They are making record profits.

 

Kind of like the Republican meltdown with McCain when he said the fundamentals of the economy are strong?

 

I’ve got nothing to say about inflation. I just have a little free time now that I turned off the gator game.

 

So you're only paying $1575/month with a no-money-down mortgage in the most expensive zip code in Knoxville? What does that say about Knoxville?

 

So when does this great news trickle down to Florida where labor is tighter than tree bark and inflation is 2x the national rate?

 

that was brutal.

 

Inflation is a monetary phenomenon. Biden doesn't have much to do with it.

As populations decline around the world we will get deflation

 

Unfortunately Gator scoring is in a state of deflation. I would support emergency hyperinflation measures in this scenario.

 

I’d say that analysis is fair - the only difference is the 3% profit taking is a result, not a cause, so I’d probably split that 3% between 1.5% supply constraints and 1.5% demand stimulus.

 

So Exxon has increased their profit over 200 percent during Covid and the Ukraine war.