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>Going full Volcker is not called for. Inflation hasn't been building for nearly two decades; it's been nearly nonexistent for nearly two decades. Inflation has

by yterdy 3y ago

>Going full Volcker is not called for. Inflation hasn't been building for nearly two decades; it's been nearly nonexistent for nearly two decades. Inflation hasn't reached 14%, nor anything close. It's actually about 20-30% since 2020, if you measure the way they used to. People at the bottom are hurting, but the goal is to prevent full institutional collapse, so they get sacrificed in a slow walk to stabilization that risks hyperinflation, versus just getting it over with and starting on a recovery. >a less damaging one than going full Volcker. Well, a lost generation or two begs to differ. >Don't vaguepost. If you've got something to say, say it. Unknown unknowns. I have no idea where a hypothetical sucker punch is coming from because it's a sucker punch.

Negitivefrags 3y ago
The whole “measure it the way they used to” meme implies that you believe in the website shadow stats. Well you might want to know that shadow stats doesn’t actually recalculate inflation using old methodology, it adds some constant factors. https://econbrowser.com/archives/2008/10/shadowstats_res https://econbrowser.com/archives/2008/10/shadowstats_res
- yterdy 3y ago
  No, I just read https://www.investopedia.com/terms/b/basket_of_goods.asp https://www.investopedia.com/terms/b/basket_of_goods.asp and https://www.bls.gov/cpi/additional-resources/historical-changes.htm https://www.bls.gov/cpi/additional-resources/historical-chan... and note all of the opportunities to manipulate the inputs and calculation mechanics in order to change the reported inflation. As reflected in https://www.investopedia.com/articles/07/consumerpriceindex.asp https://www.investopedia.com/articles/07/consumerpriceindex.... Even a conservative government estimate says 19%: https://lao.ca.gov/LAOEconTax/Article/Detail/766#:~:text=Prices%20have%20grown%20by%2019,energy%20prices%20the%20most%20volatile&text=Prices%20based%20on%20CPI%2DU,for%20shelter%2C%20such%20as%20rent https://lao.ca.gov/LAOEconTax/Article/Detail/766#:~:text=Pri.... In all honesty, Volcker wasn't even needed. Let the initial COVID crash wipe out asset prices, helicopter money to everyone as we did, and let the people who were responsible enough to not get wiped out buy into ownership of properties and businesses. Recovery starts that winter and we're already there by now. Same diff to the average American, at worst, and you're not puppeteering zombie corps that you have to keep dumping money into to stave off the defaults that should have come already. This circus where the same people and entities who got us into this mess get to jack up prices to offset wage increases, and then some, is avoided. I don't see the issue.

by yterdy 3y ago

Negitivefrags 3y ago

The whole “measure it the way they used to” meme implies that you believe in the website shadow stats. Well you might want to know that shadow stats doesn’t actually recalculate inflation using old methodology, it adds some constant factors. https://econbrowser.com/archives/2008/10/shadowstats_res https://econbrowser.com/archives/2008/10/shadowstats_res

yterdy 3y ago
No, I just read https://www.investopedia.com/terms/b/basket_of_goods.asp https://www.investopedia.com/terms/b/basket_of_goods.asp and https://www.bls.gov/cpi/additional-resources/historical-changes.htm https://www.bls.gov/cpi/additional-resources/historical-chan... and note all of the opportunities to manipulate the inputs and calculation mechanics in order to change the reported inflation. As reflected in https://www.investopedia.com/articles/07/consumerpriceindex.asp https://www.investopedia.com/articles/07/consumerpriceindex.... Even a conservative government estimate says 19%: https://lao.ca.gov/LAOEconTax/Article/Detail/766#:~:text=Prices%20have%20grown%20by%2019,energy%20prices%20the%20most%20volatile&text=Prices%20based%20on%20CPI%2DU,for%20shelter%2C%20such%20as%20rent https://lao.ca.gov/LAOEconTax/Article/Detail/766#:~:text=Pri.... In all honesty, Volcker wasn't even needed. Let the initial COVID crash wipe out asset prices, helicopter money to everyone as we did, and let the people who were responsible enough to not get wiped out buy into ownership of properties and businesses. Recovery starts that winter and we're already there by now. Same diff to the average American, at worst, and you're not puppeteering zombie corps that you have to keep dumping money into to stave off the defaults that should have come already. This circus where the same people and entities who got us into this mess get to jack up prices to offset wage increases, and then some, is avoided. I don't see the issue.