3 ms·
Does anybody believe that the 7.5% figure is completely accurate and not fudged and massaged to give an answer that won't entirely spook the market? It feels l
by logicalmonster 5y ago
Does anybody believe that the 7.5% figure is completely accurate and not fudged and massaged to give an answer that won't entirely spook the market?
It feels like their strategy is to avoid making a choice and letting the bubble unwind as slowly as possible to avoid political fallout. Unfortunately, we learned as kids that ripping off a bandaid faster is usually best, so this might prolong pain for a while.
- fuckcensorship 5y agoInflation statistics have been rigged for decades [1]. [1]: http://www.shadowstats.com/alternate_data/inflation-charts http://www.shadowstats.com/alternate_data/inflation-charts
- boring_twenties 5y agoI can't believe people are still citing shadowstats and expecting to be taken seriously. It's been known bullshit for a decade and a half. https://econbrowser.com/archives/2008/09/shadowstats_deb https://econbrowser.com/archives/2008/09/shadowstats_deb
- amanaplanacanal 5y agoI bought into the shadowstats guy for a long time, until he admitted he makes up his numbers. It's all bogus.
- fuckcensorship 5y agoI wasn’t aware of this. Thank you for letting me know! Does anyone have a source which is not bogus? Or is the “inflation numbers are rigged” premise just bogus?
- steelstraw 5y agoSource?
- amanaplanacanal 5y agohttp://econbrowser.com/archives/2008/10/shadowstats_res http://econbrowser.com/archives/2008/10/shadowstats_res
- eldavido 5y agoKeep in mind "7.5%" is the aggregate across the entire basket. This isn't how individual people perceive inflation. What actually happens is that a few things make big jumps (10-15%) and the prices of other things don't increase as quickly. Maybe not the nicest thing to say, but I'm hardly affected by inflation at all. The four biggest categories to experience inflation recently have been used cars, petroleum, rents, and food. As an urban-dwelling homeowner who doesn't drive much, doesn't rent, and isn't in the market for a car, the only real change has been food, and it's a small enough part of my goods basket that the extra $15-20/week at the grocery store barely registers. The people really hurting today are the truck-driving renters sucking down 20+ gallons of gas/week driving long distances to their jobs. Those guys are feeling a lot of pain.
- chasd00 5y agoi have a variable rate loan on 20 acres that's making me nervous. I'm going to start researching options to rolling that into a fixed rate somehow before the Fed does the inevitable.
- voisin 5y agoIt’s too late. Banks have already priced into fixed rates the expectation of rate increases. This is what the newspapers mean when they talk about “market expects 4 rate hikes in 2022” and similar. It is already priced into the yield curve by traders.
- redtriumph 5y agoIMO, increasing gas prices indirectly affect food prices too... since the cost of transportation is linked to fuel prices.