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The whole "falling inflation" meme, spreading all over traditional media, is a huge astroturf. Inflation at 6-something percent might be a bit lower than 9 per
by listenallyall 4y ago
The whole "falling inflation" meme, spreading all over traditional media, is a huge astroturf.
Inflation at 6-something percent might be a bit lower than 9 percent, but it is 3 times higher than normal, and Fed targets. It's like slowing down from 90 mph to 65 mph in a residential neighborhood with kids around -- you're still deep in the danger zone.
The other part is people's lack of understanding that even if inflation is dropping, prices are rising. And at 6 percent, they are rising fast, starting from a base of record-high prices.
- frankbreetz 4y agoInflation over the past 6 months has been less the 1%[0]. This is right on target for the Fed, 2% for the year. The the 6 months before that is where the bulk of the 6.5 yearly cpi increase comes from. Inflation is a rate and it is dropping. According to the CPI prices did drop last month as there was a negative inflation rate. [0]https://www.bls.gov/news.release/cpi.nr0.htm https://www.bls.gov/news.release/cpi.nr0.htm
- listenallyall 4y ago> gasoline was by far the largest contributor to the monthly all items decrease Biden is emptying the Strategic Reserve to temporarily lower gasoline prices as a political maneuver to bring down the CPI (temporarily) so people like yourself will congratulate him. Lol. Meanwhile according to your own link pretty much everything else is still increasing rapidly -- food +10%, electricity +14%, shelter +7.5%. You're going to say, with a straight face, that we have negative inflation? What a joke.
- niklasbuschmann 4y agoNo, he did it because at the time, oil was in backwardation, making the move very profitable. It just makes sense economically for anyone who stores oil.