They forecasted 8.7% and it came in at 8.5%. Get the chisels out for Rushmore. Sell your stock while it's high because it will drop again after lunch. Now we go off what the rate is from month to month. "Hey guys, get out the champagne. It didn't go up any higher from last month." Hilarious.
I'd wager that since gas and travel prices always decrease after the 4th of July (supply and demand) that inflation has typically always dipped slightly in July...in good and bad economic times.
(08-10-2022 09:08 AM)Captain Bearcat Wrote: 8.5% is the annual inflation over the past 12 months. But fascinatingly, the monthly inflation rate was 0% in July.
Here is the month-by-month inflation report directly from the Bureau of Labor Statistics:
Monthly inflation rate, by month:
July '21 - 0.5%
Aug = 0.3%
Sep = 0.4%
Oct = 0.9%
Nov = 0.7%
Dec = 0.6%
Jan '22 = 0.6%
Feb = 0.8%
Mar = 1.2%
Apr = 0.3%
May = 1.0%
Jun = 1.3% Jul = 0.0% (last month, the newest data)
July is 0% because energy went down 11%.
Food inflation stayed steady in July at 1.1% monthly (it has been between 0.9% and 1.2% every month this year). 1.1% monthly = 14.1% annually
Im extremely skeptical of that 1.1% number for food in July. It certainly wasnt the case at my grocery store.
Yeah...and that's why we don't look at one grocery store in one town to determine the national condition.
phD level economist working for the FED? Nope. *They
(08-10-2022 10:13 AM)Redwingtom Wrote: Dow up 500+ so far on the news...so there's that.
That's good news for the high brow folks.
Most of the people that are struggling are not in the stock market, but that's really not your concern.
Although I generally agree, that's not entirely true. A significant number of us who aren't high brow do have pention plans and 401k's thru our employers and are always affected by the stock market.
This got me curious so I looked it up. Nearly 6 out of 10 Americans are impacted by the stock market. GALLUP did a poll earlier this year and below is the data broken down by various groups.
(08-10-2022 09:08 AM)Captain Bearcat Wrote: 8.5% is the annual inflation over the past 12 months. But fascinatingly, the monthly inflation rate was 0% in July.
Here is the month-by-month inflation report directly from the Bureau of Labor Statistics:
Monthly inflation rate, by month:
July '21 - 0.5%
Aug = 0.3%
Sep = 0.4%
Oct = 0.9%
Nov = 0.7%
Dec = 0.6%
Jan '22 = 0.6%
Feb = 0.8%
Mar = 1.2%
Apr = 0.3%
May = 1.0%
Jun = 1.3% Jul = 0.0% (last month, the newest data)
July is 0% because energy went down 11%.
Food inflation stayed steady in July at 1.1% monthly (it has been between 0.9% and 1.2% every month this year). 1.1% monthly = 14.1% annually
The problem is any way you try to slice the data to frame a narrative, the people experience it every single day. Going with "we had 0 percent inflation in July" will not resonate for anyone in the work force, travelers, or anyone who has been to a grocery store. People are becoming poorer each and every month.
No shi. While happy energy a la gas curbed the report from being horrible again on a monthly basis, EVERYONE remembers what prices were at last year as well as just before Corona (2019) since that was such a turning point for this era.
Note: Captain did note the food issue as well and don't think he meant to spin. Just provide further analysis
I understand, however it’s the same talking point that the White House is trying to parrot to make it seem like inflation is over.
Can you quote specifically ANYONE who has even hinted that inflation is over?
When you make a speech and specifically say inflation was at 0% the only way to interpret that is inflation is no longer an issue. The average American spends maybe 5 minutes on news so saying misleading things like this makes our citizens less informed on the issues.
(08-10-2022 11:17 AM)WKUApollo Wrote: I'd wager that since gas and travel prices always decrease after the 4th of July (supply and demand) that inflation has typically always dipped slightly in July...in good and bad economic times.
Summer is over. Layoffs will begin around the beginning of next quarter when interest rates will go up again.
(08-10-2022 09:55 AM)WalkThePlank Wrote: The problem is any way you try to slice the data to frame a narrative, the people experience it every single day. Going with "we had 0 percent inflation in July" will not resonate for anyone in the work force, travelers, or anyone who has been to a grocery store. People are becoming poorer each and every month.
No shi. While happy energy a la gas curbed the report from being horrible again on a monthly basis, EVERYONE remembers what prices were at last year as well as just before Corona (2019) since that was such a turning point for this era.
Note: Captain did note the food issue as well and don't think he meant to spin. Just provide further analysis
I understand, however it’s the same talking point that the White House is trying to parrot to make it seem like inflation is over.
Can you quote specifically ANYONE who has even hinted that inflation is over?
When you make a speech and specifically say inflation was at 0% the only way to interpret that is inflation is no longer an issue. The average American spends maybe 5 minutes on news so saying misleading things like this makes our citizens less informed on the issues.
(08-10-2022 11:17 AM)WKUApollo Wrote: I'd wager that since gas and travel prices always decrease after the 4th of July (supply and demand) that inflation has typically always dipped slightly in July...in good and bad economic times.
Summer is over. Layoffs will begin around the beginning of next quarter when interest rates will go up again.
(08-10-2022 10:01 AM)natibeast2.0 Wrote: No shi. While happy energy a la gas curbed the report from being horrible again on a monthly basis, EVERYONE remembers what prices were at last year as well as just before Corona (2019) since that was such a turning point for this era.
Note: Captain did note the food issue as well and don't think he meant to spin. Just provide further analysis
I understand, however it’s the same talking point that the White House is trying to parrot to make it seem like inflation is over.
Can you quote specifically ANYONE who has even hinted that inflation is over?
When you make a speech and specifically say inflation was at 0% the only way to interpret that is inflation is no longer an issue. The average American spends maybe 5 minutes on news so saying misleading things like this makes our citizens less informed on the issues.
These are the same type of people who scream that an increase in spending on a governmental program is really a cut in funding if the planned increase is not as much as they want.
(08-10-2022 10:13 AM)Redwingtom Wrote: Dow up 500+ so far on the news...so there's that.
That's good news for the high brow folks.
Most of the people that are struggling are not in the stock market, but that's really not your concern.
Although I generally agree, that's not entirely true. A significant number of us who aren't high brow do have pention plans and 401k's thru our employers and are always affected by the stock market.
Bingo! Yup...a ****-ton of your average working folk have a 401k with major investments in stocks.
Approximately 60 million Americans have 401k's. So, about 18% of the population.
As I stated before, MOST people who are are struggling, don't have any involvement in the stock market.
(08-10-2022 10:31 AM)WalkThePlank Wrote: I understand, however it’s the same talking point that the White House is trying to parrot to make it seem like inflation is over.
Can you quote specifically ANYONE who has even hinted that inflation is over?
When you make a speech and specifically say inflation was at 0% the only way to interpret that is inflation is no longer an issue. The average American spends maybe 5 minutes on news so saying misleading things like this makes our citizens less informed on the issues.
Who made a speech?
Why even bother with you?
Sorry...I've not seen nor heard any speech made from anyone on this news that just broke like 2 hours ago. And I ask because I'd like to see the transcript of it to be able to ascertain whether the speaker implied in any way that this one months meant that inflation was no longer an issue.
(08-10-2022 10:13 AM)Redwingtom Wrote: Dow up 500+ so far on the news...so there's that.
That's good news for the high brow folks.
Most of the people that are struggling are not in the stock market, but that's really not your concern.
Although I generally agree, that's not entirely true. A significant number of us who aren't high brow do have pention plans and 401k's thru our employers and are always affected by the stock market.
Bingo! Yup...a ****-ton of your average working folk have a 401k with major investments in stocks.
Approximately 60 million Americans have 401k's. So, about 18% of the population.
As I stated before, MOST people who are are struggling, don't have any involvement in the stock market.
Dude, you can't count the whole damned population including kids and retirees.
(08-10-2022 11:06 AM)Redwingtom Wrote: Can you quote specifically ANYONE who has even hinted that inflation is over?
When you make a speech and specifically say inflation was at 0% the only way to interpret that is inflation is no longer an issue. The average American spends maybe 5 minutes on news so saying misleading things like this makes our citizens less informed on the issues.
Who made a speech?
Why even bother with you?
Sorry...I've not seen nor heard any speech made from anyone on this news that just broke like 2 hours ago. And I ask because I'd like to see the transcript of it to be able to ascertain whether the speaker implied in any way that this one months meant that inflation was no longer an issue.
It's not hard...
Nah, I'm good. You can look it up yourself like a big boy. If you don't want to respond to my original point and instead act like a moron that's on you.
(08-10-2022 10:13 AM)Redwingtom Wrote: Dow up 500+ so far on the news...so there's that.
That's good news for the high brow folks.
Most of the people that are struggling are not in the stock market, but that's really not your concern.
Although I generally agree, that's not entirely true. A significant number of us who aren't high brow do have pention plans and 401k's thru our employers and are always affected by the stock market.
Bingo! Yup...a ****-ton of your average working folk have a 401k with major investments in stocks.
Approximately 60 million Americans have 401k's. So, about 18% of the population.
As I stated before, MOST people who are are struggling, don't have any involvement in the stock market.
Almost 25% of Americans are children (under 18) so that 18% you mention isn't accurate. Also, 77% of private sector employers have access to employer supplied pension plans. Then add in all the government employees...teachers, firefighters, police, etc that have pensions. Those pensions are invested in the markets and bonds. A significant percentage of the population are affected by the stock market fluctuations. Obviously, those who don't work aren't affected as much.
(08-10-2022 11:22 AM)WalkThePlank Wrote: When you make a speech and specifically say inflation was at 0% the only way to interpret that is inflation is no longer an issue. The average American spends maybe 5 minutes on news so saying misleading things like this makes our citizens less informed on the issues.
Who made a speech?
Why even bother with you?
Sorry...I've not seen nor heard any speech made from anyone on this news that just broke like 2 hours ago. And I ask because I'd like to see the transcript of it to be able to ascertain whether the speaker implied in any way that this one months meant that inflation was no longer an issue.
It's not hard...
Nah, I'm good. You can look it up yourself like a big boy. If you don't want to respond to my original point and instead act like a moron that's on you.
(08-10-2022 09:38 AM)Kruciff Wrote: I alluded to this yesterday, but the wins keep coming for Biden. Nice to see. Can't wait to see the new numbers when the inflation act has a chance to make a real impact.
all he want, but its still a 
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