MakunaHatataI feel the actual inflation
Well, thing is, some product categories probably aren’t suffering the same price hikes as groceries, fuel and rent. Stuff like cable and internet, clothing and office supplies are probably bringing the average down (please tell me if they’re having inflation, I pulled these categories out of my butt).
I hope we see deflation eventually... I know it's not good for the economy but no one wants to pay 100 dollars for a coke
empireOfLoveThis breaks the current economic system and will only occur safely once capitalistic GDP and population growth has ceased completely
Some would argue the current economic system needs a little rattling
I also thinks it needs some rattling. But I don’t particularly want to plunge an additional billion+ people into new food shortages and poverty to trigger reforms if we can’t help it.
That’s the fun part! It never deflates! I guarantee lots more prices for consumer goods could have already come down, but damn do they love the idea of keeping those price points where they are. We already need another round of inflation on wages to get to where we were.
There have been periods of deflation in the past.
diprount_tomatoWhen inflation is up the roof I doubt it’s that bad
Problem with deflation is: what do people do when theres deflation when it comes to optional expenses? Well, they may postepone them in hopes that prices go further down, this means that there’s less demand, prices go downer, businesses may start to fail, putting people in unemployment, reducing demand, and death spiral. Basically same thing as inflation death spiral but with deflation. Consumer confidence is a very delicate thing
this means that there’s less demand, prices go downer, businesses may start to fail, putting people in unemployment, reducing demand,
I’ve always been skeptical of this and I’m not really aware of historical examples that prove it. The part i just quoted - “less demand, prices go downer, businesses may start to fail” - that means supply decreases too. All that’s really happening if you have a couple % deflation is that people are slightly more incentivized to hold onto their money, and the fact is that currencies don’t just naturally appreciate in value that much, at most in the long term I think you have “the same amount of money in circulation” vs. population growth causing it to chase a slightly larger economy.
If you want a historic example look at the politics In Germany that got Hitler into power. Wikipedia is sadly only in German, but you can see from the graph that there was 10% deflation in 1932, with bad consequences.
I’m sure this does get lumped into “causes of Hitler’s rise to power/WWII” list somewhere. I seem to recall the inflation immediately prior being a lot more famous - that Germany was mandated by treaty to pay reparations after WWII, and that the Weimar Republic printed so much money people were using it as wallpaper or burning it as firewood (supposedly at least). In general, that there was a widespread sense Germany had been wounded somehow, which he was able to capitalize on, telling people to “fight back” against the minority groups he characterized as the forces of oppression. That’d be everywhere between 1918 and 1933 or so.
It’s a myth that the hyperinflation was the reason for hitlers rise. The hyperinflation occurred in 1923. Hitler tried a coup in November 1923, failed miserably, was thrown into prison and the party was banned for a while. In 1928 they had 2,6% in the election.
de.wikipedia.org/wiki/Reichstagswahl_1928?wprov=s…
Only during Brünings deflation politics the nsdap gained momentum. The vote 1930 gave them 18,3% and in 1932 37,3%. Now compare that to the deflation graph of the other Wikipedia link I gave last comment.
Well, simply attributing it to either side of inflation/deflation is overly simplistic. The simple way of putting it is that people were unhappy in Germany and Hitler was able to capitalize on it in a political campaign against a supposed cause. The German economy in general was on shaky ground following WWI but this was alleviated partially by the Dawes/Young plans, right up until the Great Depression actually started affecting that foreign aid and the economy took another major hit, at which point the Nazis were able to use this as evidence of a “failure in leadership” from the current government, getting Hitler appointed as chancellor, then Reichstag fire started & he seized power.
This is a big step away from your “hyperinflation lead to Hitler” claim before.
Well, that’s not what I wrote.
It probably only is problematic in the same amount that inflation is bad. If it’s a little, it’s fine. If it’s a lot, you’re screwed
TBH this strikes me as the kind of thought that doesn’t come from careful consideration of how it would actually play out.
no one wants to pay 100 dollars for a coke
Reminds me of a comic strip where a guy goes to Japan and orders a coffee. The cashier says the total is 300 yen and the guy says “damn, coffee is expensive here!”
I just checked, it’s actually 150 yen for a coffee.
Still sounds a lot more than the $3 I pay here (even though it’s less than half as much).
If you get normal inflation of 2%, you will never see a 100$ coke. The cumulative inflation in 100 years in “only” 700%.
Doubt it’s such a huge difference to make a significant impact
Sure it’s a widespread increase in the prices of goods and services, but corporate profits are up too so that makes it not inflation, for some reason. /s
AlmightySnoo 🐢🇮🇱🇺🇦tbh both inflation numbers are hot
Yeah, I wouldn’t mind being screwed by either of these inflations.
Nah reported inflation is better. Too much inflation might drown you
It’s a risk I’m willing to take.
If I learned anything from the film Weird Science it’s that anything bigger than a handful of inflation, you’re risking a sprained tongue.
KIM_JONG_JUICEBOXSmall tits fan checking in.
genoxidedev1You just gave me a whole new perspective
My country’s news say we’re improving with a straight face. And I’m like “improving in what? Making the country sink more efficiently?”
The stockholders have improving profits. That’s all the media cares about. If profits go up, the media will be praising it even if inflation is killing the bottom 90%.
TwoGemsI’m honestly not sure why there isn’t civil unrest worldwide. People have got to be suffering mass homelessness at this point and starving. I did hear that theft from grocery stores increases but to me it’s well deserved.
The Internet happened
Jo MiranWell deserved or justified? I don’t think a grocery store deserves being robbed given that they operate on slim margins, but if you steal a loaf of bread because you are otherwise going to starve, then I think you are justified.
A corporate grocery store will be just fine and they have tax write offs and benefits normal people don’t.
GreatAlbatross“It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grammes a week. And only yesterday, he reflected, it had been announced that the ration was to be REDUCED to twenty grammes a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it. Parsons swallowed it easily, with the stupidity of an animal. The eyeless creature at the other table swallowed it fanatically, passionately, with a furious desire to track down, denounce, and vaporize anyone who should suggest that last week the ration had been thirty grammes. Syme, too — in some more complex way, involving doublethink, Syme swallowed it. Was he, then, ALONE in the possession of a memory?”
Literally 1984, but this time isn’t even a joke (I’m fucking scared)
Now I really like the um… inflation ( ͡° ͜ʖ ͡°)
Inflation is transitory, and it is Trump’s fault for overheating the economy anyways.
EhListNone of this is because of Trump. He is too far removed from office and inflation is typically not the result of something the executive did. The Fed and Congress are much more directly responsible for the economy as they control the purse strings and interest rates respectively.
I have no love for TLFG but he’s not to blane in this case
Love the cognitive dissonance of the populist backlash to Trump where even if you look at his 4 years and realize that logically he was pretty much an average (we haven’t had a decent one in a loooooong time) president in all categories, he’s somehow responsible for every bad in all industries, even where the checks and balances would have prevented him any influence over.
Trump is the least capable POTUS in US history with the only possible exception being Pierce. He was an unmitigated disaster for policy and the views of the USA abroad. He was shit.
The catch is he’s not responsible for the current inflation. That’s because the Fed did not act fast enough.
It’s the Fed’s fault for overreacting to COVID and leaving rates at 0% for years. That shit has permanent consequences. A whole lot of people got insanely rich from a global tragedy.
_TKThe inflation report that came out today specifically omits fuel and grocery prices because those are “volatile” categories. My grocery bill is double what it was two years ago and has been for six months. I wouldn’t call that volatile.
🇸🇵🇪🇨🇺🇱🇦🇹🇪🇷Groceries are stupid, it cost me $20 to make a lasagna that last year cost $10.
idunnololzwas it twice as good tho
Probably twice as bad
SoleInvictusIt’s funny you say this, because my wife and I just made a lasagna and were shocked it cost nearly $30.
Wtf. I mean I realized how much you us people pay for food when I was there last year, but 20$ for lasagna. What’s going on? I think I can easily do it under 10€,even buying “better” meat.
Costs me $12 to make 2-3 sandwiches at home using deli meat and cheese, a loaf of French bread, and 2 small tomatoes. That’s while taking advantage of sale prices. Would be more like $8/sandwich if I hadn’t bought the meat and cheese on sale.
its basically 2 year ago eating out prices to make shit at home these days
Idk man ground beef is still like $3 a pound for me, milk $2.70 a gallon, pasta $1 a pound. I’m not saying some things haven’t gotten more expensive because they have, but my grocery bill from 2 years ago is like 20-30% more expensive now.
I’m not sure what point you’re trying to make. A 20-30% jump in a grocery bill is unprecedented in my life time. I’m skeptical it’s even that low for most. Pre-pandemic, I was buying eggs for 1.39, they’re 2.49 now. Jarred spaghetti sauce used to be 1.99, it’s 3.49 now if I catch a sale. I used to be able to regularly buy chicken breast for like 1.49-1.99, now if it’s less than 3 I buy as much as I can afford and freeze it. This time of year in my area, corn would usually be on sale 4/$1. The cheapest it’s gotten is $0.79.
Just repeat ad nauseam for everything. The other day I was in the store thinking to myself, “I’m not sure I can afford convenience foods like canned beans.” Canned. Fucking. Beans. The luxury.
I’m spending $2.30 for 18 eggs, buy spaghetti sauce at $.99 or so, and generally pick up chicken at about $1 a pound. Never seen corn on the cob for more than $.50 a pound, usually less than that. Bush’s beans, we just picked some up at $2 a can.