The New Right Wing Buzz word - Hot

[gab13by13]

March inflation data came in hotter than expected which caused the stock market to drop 1 %.

So much for the good news about 300,000 new jobs created, that good news was soon overshadowed by the quest for the elusive 2.0 inflation target. It doesn't take long for the right to gain back control of the narrative.

The Fed can do and say whatever it wants about inflation but it can't stop people from manipulating the price of oil, it can't stop corporations from charging exorbitant prices for its products.

There were 30 freaking headlines across my computer's home page and all but one was negative about the economy.

Dear oh Dear what will the Fed do now? Keep interest rates the same, raise them, or would it dare lower rates when Trump warned against doing that?

My tiny piece of the economy is doing just fine, I'm headed out to get a hair cut, give a good tip, head off to a local meat market and look for some nice filets to cook on the grill tonight. I will let others worry about the elusive quest for 2.0 inflation, it's too scary for me to even understand it.

[usonian]

1. The fed is powerless against greedflation.

Economic theory is pure bullshit IMNSHO. Pro-Oligarch theory based on backward-looking data.

Las Vegas might do better.

Where's Ace Rothstein when you need him?

[NanaCat]

2. I knew Economics was full of it

When the textbook for my Econ for Dummies class kept going on about the horror of a, say, 1% rise in anything.

Anyone who's taken statistics knows that 1% is well within the standard margin of error, because it's usually input 'noise' of assorted kinds from a small data error (often transposition of some numbers, or a miscount, or leaving off a digit, and etc). You don't get worked up about 1% of anything, because it's so small in most cases that it's effectively meaningless.

But not in economics! With them, it's the end of the bloody world!

And who said that 2% was the 'ideal' inflation number, anyway? 2% is also in margin of error territory.

The lowest number for acceptable inflation should be 3%, because that's the percentage where you have more than mathematical 'noise' going on.

[usonian]

3. The rich say so. And (most) Econ schools dare not cross them. (IMNSHO)

Inflation erodes profits and raises yacht prices.