In case you missed it with the Dow way up and retail shopping up

[malaise]

suddenly online shopping is bad - these fucking M$Greedia hacks are good

[multigraincracker]

1. So inflation is up 6%.

In that case, I’m cutting my spending by 10%. Feel free to to do too.

[Johnny2X2X]

7. Inflation was up 6% in one month compared to the same month last year.

It's going to be up 4.8% or so on the year. Which for much of our nation's history wasn't even newsworthy. 4-5% inflation is not a big deal, the only reason it seems like it is is because we had a couple decades of extraordinarily low inflation. So 4% seems like a lot compared to the 1% it was under Obama, or the 2% that is the Fed's goal, but it's not a big deal.

Inflation was over 10% for much of the late 70s and early 80s. It averaged 3.5% in Bush's second term. 4.8% is barely elevated. It makes good panic headlines though. Prices aren't a concern right now for the economy, just for politics.

[Amishman]

24. 2% inflation became normalized, especially in employer's minds

plenty of shit employers are still desperately trying to suppress wages

[progree]

37. In the first 10 months of 2021 the CPI has increased 5.80% (7.00% annualized rate)

Last edited Tue Nov 16, 2021, 10:33 PM - Edit history (1)

It's going to be up 4.8% or so on the year.

Prices would have to decline a combined 1.0% or so in November and December for that to happen. Won't happen unless there is a very serious economic downturn, which wouldn't help us in the mid-terms.

CPI: http://data.bls.gov/timeseries/CUSR0000SA0
Monthly changes: http://data.bls.gov/timeseries/CUSR0000SA0&output_view=pct_1mth

Still a very healthy retail sales report in October (1.7% on top of a 0.8% gain in September) compared to 0.9% CPI increase in October (0.4% increase in September)

Back to inflation: in the past 51 years (October 1970 to October 2021 which includes the high inflation of the mid-late 1970's and early 1980s) prices increased 3.90%/year on average.

On edit: Bush's 2nd term averaged 2.5%.

[malaise]

2. In caseyou need clarification

Hack said what's driving retail sales nd making people unhappy are gas prices and online shopping

[Thomas Hurt]

3. Christofascists only care about gas prices when a Democrat is in the Oval Office.

[Chille]

4. gas prices and food nt

[malaise]

6. Gas and food prices are up across the globe as a result of Covid 19

but people see hope and are shopping for the holidays.

[malaise]

11. Poor you n/t

[Chille]

12. lol imagine I had a thought

it surprised me to

[Chille]

14. some of us live

pay check to paycheck and can't afford the current gas and food prices. That's why we have programs to help us

[malaise]

16. Some of us live in places where there is significantly less help and yet

the vast majority see hope re our economies given the reduction in Covid spread

[Chille]

19. The federal government

doesn't care where you live as we are all united. At least we were the last time I checked

[spooky3]

20. She is not in the USA. In any case, let's hope inflation eases everywhere. Nt

[malaise]

23. Yes let's hope

[Chille]

27. I didn't realize

that. My apologies to her

[progree]

42. Covid: up 19.8% since Oct 26 in U.S., and up 24.5% since Oct. 16 worldwide

in daily new cases, 7 day moving average.

given the reduction in Covid spread

In some places. But unfortunately overall, we're on a definite increasing trend in the U.S. and worldwide.

U.S.: https://www.nytimes.com/interactive/2021/us/covid-cases.html
World: https://www.nytimes.com/interactive/2021/world/covid-cases.html

[rurallib]

5. great time to spread a little covid - I mean cheer - around.

[mcar]

9. And shipping container backlog has decreased 29%

But supply chain!!11 But inflashun!!11

[malaise]

10. Eff them

[mcar]

15. It's why I don't watch TV news much anymore

Makes me too angry.

[Sherman A1]

13. Seems to be no supply chain issues with the numbers I have heard today.

Walmart & Home Depot showing 9%+ gains sorta puts things on their ear......

[malaise]

18. Ha

Tell them

[vanlassie]

39. People buy what they can get? It's a hobby.

[aggiesal]

41. 60 Minutes segment on the supply chain issue and why prices are high ...

It may not be what you think is causing the price increases.
Disgusting really!

[Sherman A1]

43. I watched and they missed just as much as they covered in the piece

No mention of "just in time" inventory systems, no mention of how truckers are abused.

It was okay, but hardly stellar reporting.

[aggiesal]

44. I agree with you, but my point was ...

that the shippers themselves are gouging their customers, because they can.

One container owner said that their costs per container went from $2K to $25K,
while product sitting at ports, can't be moved and owners of the containers have to pay storage fees.
Another owner said they paid over $1M just in storage fees for the month of September, that he
now has to pass on to the customers.

It all get's passed on to the customers.

[C Moon]

21. Uh oh. Now what can the GOP do to slow this down?

[Tommymac]

34. No worries. The M$M is on the job.

Never ever forget that overall the Mainstream media is complicit.

Faux Noise, OAN, etc are simply at the end of the spectrum and are criminal.

The rest are OWNED by the 1% and do their bidding (Facebook). Sometimes it seems they are on our side when the 1% are feuding among themselves, but it never lasts (twitter).

I will try my best to stay optimistic in the coming years...but honestly I am old and it is so tempting to throw in the towel at times, become selfish, say fuck it all, and live out my remaining years in relative peace playing online games. I am an old white man and could do so with impunity...

BUT I will not leave my brothers and sisters behind. Not until my dying breath.

Solidarity.

[spooky3]

22. Was just at the grocery and the shelves were full.

Prices are high, but stockouts are much less of a problem than the media suggest, at least in some places.

[malaise]

25. It can't be Biden's fault because prices are high

here as well.

[malaise]

26. It can't be Biden's fault because prices are high

here as well.

[spooky3]

28. Wait, are you using logic? That doesn't work with Rethugs. :-)

[malaise]

29. Bwaaaaaaaaaaaaaaaaaaaaaaah

[twodogsbarking]

30. Purchasing is up by 1.7%

Prices up much more than 1.7%. Costs more to buy the same shit.

[progree]

40. In October the CPI rose 0.9%, while retail sales were up 1.7%

CPI: http://data.bls.gov/timeseries/CUSR0000SA0
Monthly changes: http://data.bls.gov/timeseries/CUSR0000SA0&output_view=pct_1mth

[Historic NY]

31. People keep buying shit....yeah

all that at home shopping is clogging ports. Demand is exceeding inventories on hand. Who knew. My neighbors buy everything on like, from chewey to amazon and more. They had a pile of boxes and garbage next to the house for a month that kept growing because they apparently don't get when recycling day is. I don't think the garbage men have been happy with them. I go to my supermarket and find eggs for 1.59 not bad. Half and half fat free seems to be in demand suddenly. There are a lot of gaps in items mostly because people are cleaning it out. The line for cold cuts is crazy at time, turkey seems to be a hard find somedays.

The pandemic has change more than peoples lives it change their habits from shopping to meal prep.

[malaise]

32. THIS

The pandemic has change more than peoples lives it change their habits from shopping to meal prep.

[totodeinhere]

35. The Dow has little relation to how well or not well the average American is doing with her or his

personal finances. Plus the Dow was also setting records during Trump's term. President's have very little to do with whether the stock market is going up or down.

And the Republicans will spin the retail spending increase as just another cause of increased inflation.

[Wounded Bear]

36. Wall Street has been largely decoupled from the economy at large...

It is mostly just a casino for hedge fund managers and speculators.

Sure, a lot of folks have "money" in retirement accounts of various types, but they largely have little to no control over what stocks and bonds the funds invest in.

Whining about inflation in Democratic administrations is in the standard repub playbook.

[malaise]

38. True but during the campaign the Slobfather repeated ad nauseum that the Dow would collapse if

Biden won

[totodeinhere]

45. I hope we are not basing this issue on what he said.

He said a lot of crazy things and he still is.

[malaise]

47. True but we have to mash down every lie

with facts

[spanone]

46. ...K&R...