he's just another lib zero flailing away pointlessly.
OOTB's Political Thread . ..
- Thread starter BillyL
- Start date
You can go find all the data you want on the correlation between gas prices and inflation. Here's an example.
WASHINGTON (AP) — Inflation jumped last month largely because of a spike in gas prices but other costs rose more slowly, suggesting price pressures are easing at a gradual pace.
In a set of conflicting data released Wednesday, the Labor Department said the consumer price index rose 3.7% in August from a year ago, up from a 3.2% annual pace in July. Yet excluding the volatile food and energy categories, so-called core prices rose 4.3%, a step back from 4.7% in July and the smallest increase in nearly two years. That is still far from the Federal Reserve’s 2% target.
The big rise in gas prices accounted for more than half of the monthly inflation increase, the government said.
High gas prices push up inflation, but prices overall are slowly moving in the right direction
Inflation jumped last month largely because of a spike in gas prices, while other costs rose more slowly, suggesting price pressures are easing at a gradual pace.
apnews.com
Are you still confused?
Here's an explanation on training wheels by Mr. Global. He states the obvious in a very simple manner.
nope, not confused at all. Are you?You can go find all the data you want on the correlation between gas prices and inflation. Here's an example.
WASHINGTON (AP) — Inflation jumped last month largely because of a spike in gas prices but other costs rose more slowly, suggesting price pressures are easing at a gradual pace.
In a set of conflicting data released Wednesday, the Labor Department said the consumer price index rose 3.7% in August from a year ago, up from a 3.2% annual pace in July. Yet excluding the volatile food and energy categories, so-called core prices rose 4.3%, a step back from 4.7% in July and the smallest increase in nearly two years. That is still far from the Federal Reserve’s 2% target.
The big rise in gas prices accounted for more than half of the monthly inflation increase, the government said.
High gas prices push up inflation, but prices overall are slowly moving in the right direction
Inflation jumped last month largely because of a spike in gas prices, while other costs rose more slowly, suggesting price pressures are easing at a gradual pace.
Are you still confused?
"By CHRISTOPHER RUGABER
Updated 12:01 PM EDT, September 13, 2023"
Do I really need to point out who was no longer president in 2023? You are aware of what year this is aren't you?
The simple definition of inflation I provided (and that you couldn't) indicates that higher prices makes the consumer dollar not go as far. Duh. But the actual question was who is responsible for the inflation under Biden's regime. Remember?
LMAO at your Mr. Global, who BTW does not contradict anything I have said. The question, once again, is of inflation under Joe Biden's regime. And as Mr. Global said, gas prices...and any higher commodity price...contributes to inflation. Duh. And as the man said, gas prices were not the only thing that contributed to inflation, and as I keep pointing out to your dumb ass, domestic oil is what we need to keep gas prices down; and OPEC doesn't refine our gas. As I pointed out, Trump acted to support our domestic oil industry which in the long run would have kept inflation down. But he didn't get himself re-elected, did he? No, the man you keep trying to excuse did.. And the results are there for even the less intelligent to see and acknowledge.
So you are still confused. Do you think Biden had a magic wand to immediately fix trump's OPEC+ deal, end corporate price gouging and repair global supply chain issues? There's the 3 main causes of inflation. Throw in trump's awful economic record on tariffs and immigration to round out much of what's left.
Your replies have been a 1000 word "Thanks Joe" sticker. Lol.
Did investing in the the Covid stimulus under both presidents contribute to inflation on the margins, sure. The CHIP Act, on the margins sure. The infrastructure bill, sure. But they also contributed to an economic and jobs boom. Most people realize some inflation is a positive indicator of a healthy economy. It is safe to say, the Biden administration was comfortable trading slightly higher inflation for a robust economy and jobs growth.
Why do you keep repeating OPEC+ not refining U.S oil as if anyone suggested otherwise? I apologize if you have Tourette's some other involuntary tick and you can't control yourself.
the stupidity above isn't worth responding to but it's impossible to not point out the balls it takes to champion the ruination of an economy by overreacting to Covid and then crowing about the inevitable recovery from that ruination, AND then trying to minimize the disastrous way that said recovery has been managed.
You're a joke, and a bad one.
I keep repeating it because you keep ignoring the bigger picture of what affects gas prices. It isn't just 'Trump made a deal with OPEC so we have higher gas prices and therefor we have inflation'. Well, not in the minds of reasonable people who aren't apologizing for Biden, that is.
Parroting his liberal professor is all he's got. InDoCtRiNaTiOn.
true dat, my friend. The thing about being indoctrinated is that less independent thinking, and less thinking in general, leads to more thorough indoctrination. This is apparent here with him.
Your definition of "slightly" is a bit different from everyone else's.
Oh, bless you heart again.
You have convinced yourself (in opposition to objective reality) that the U.S. isn't crushing all other G7 economies post trump and Covid. It must be a sad place you live in, to root against the success of our country.
The US economy is crushing it compared to other rich countries
US economic growth beat expectations in the fourth quarter, and it's outpacing most of the world's wealthiest countries.
www.businessinsider.com
Subscribe to read
You might need to go back read more of this thread to understand the context of what you are quoting.
Here are the summaries in the event you can't afford subscriptions.
Financial Times: US to grow at double the rate of G7 peers this year, says IMF
[Sam Fleming and Claire Jones, 4/16/24]
The US is on track to grow at double the rate of any other G7 country this year, according to IMF forecasts, as the strength of the world's biggest economy rocks global markets.
Strong household spending and investment will help propel US growth to 2.7 per cent this year according to the fund's latest World Economic Outlook.
The figure is higher than the 2.5 per cent estimated for 2023 and represents a 0.6 percentage point upgrade on the previous forecast.
Wall Street Journal: 'Envy of the World'—U.S. Economy Expected to Keep Powering Higher
[Sam Goldfarb and Anthony DeBarros, 4/14/24]
It has been two years since forecasters felt this good about the economic outlook.
In the latest quarterly survey by The Wall Street Journal, business and academic economists lowered the chances of a recession within the next year to 29% from 39% in the January survey. That was the lowest probability since April 2022, when the chances of a recession were set at 28%.
Economists, in fact, don't think the economy will get even close to a recession. In January, they on average forecast sub-1% growth in each of the first three quarters of this year. Now, they expect growth to bottom out this year at an inflation-adjusted 1.4% in the third quarter.
MarketWatch: The U.S. economy hasn't been on a hot streak like this in two decades
[Jeffry Bartash, 4/17/24]
After another burst of growth in early 2024, the economy is on track to expand by at least 2% for the seventh quarter in a row. Just how impressive an accomplishment is that? The last time the U.S. pulled off such a feat was 20 years ago, in 2003-04.
Financial Times: US to grow at double the rate of G7 peers this year, says IMF
[Sam Fleming and Claire Jones, 4/16/24]
The US is on track to grow at double the rate of any other G7 country this year, according to IMF forecasts, as the strength of the world's biggest economy rocks global markets.
Strong household spending and investment will help propel US growth to 2.7 per cent this year according to the fund's latest World Economic Outlook.
The figure is higher than the 2.5 per cent estimated for 2023 and represents a 0.6 percentage point upgrade on the previous forecast.
Wall Street Journal: 'Envy of the World'—U.S. Economy Expected to Keep Powering Higher
[Sam Goldfarb and Anthony DeBarros, 4/14/24]
It has been two years since forecasters felt this good about the economic outlook.
In the latest quarterly survey by The Wall Street Journal, business and academic economists lowered the chances of a recession within the next year to 29% from 39% in the January survey. That was the lowest probability since April 2022, when the chances of a recession were set at 28%.
Economists, in fact, don't think the economy will get even close to a recession. In January, they on average forecast sub-1% growth in each of the first three quarters of this year. Now, they expect growth to bottom out this year at an inflation-adjusted 1.4% in the third quarter.
MarketWatch: The U.S. economy hasn't been on a hot streak like this in two decades
[Jeffry Bartash, 4/17/24]
After another burst of growth in early 2024, the economy is on track to expand by at least 2% for the seventh quarter in a row. Just how impressive an accomplishment is that? The last time the U.S. pulled off such a feat was 20 years ago, in 2003-04.
This is the same attitude I see from most young people now. Did MJ just want to be the best on his team? Nope, he wanted to be the best of all time. We shouldn't just strive to be better than other G7 nations, we need to be the best ever. We need to be the best America we can be. You are a typical give me a participation trophy youngster.Oh, bless you heart again.
You have convinced yourself (in opposition to objective reality) that the U.S. isn't crushing all other G7 economies post trump and Covid. It must be a sad place you live in, to root against the success of our country.
The US economy is crushing it compared to other rich countries
US economic growth beat expectations in the fourth quarter, and it's outpacing most of the world's wealthiest countries.
Subscribe to read
www.ft.com
Wonder why 75% of Americans feel we're on the wrong track? I assume 75% are not as smart as you.
Shit, Trump strikes again!
www.foxbusiness.com
Inflation rises 2.4% in September, above expectations
The Labor Department released closely watched inflation data for September that showed the consumer price index rose 2.4% last month, which was slightly above expectations.
it must be a sad place to live within such a limited intellect that could believe that anything I've said amounts to rooting against us. I have no doubt that you possess such a limited intellect, but I take that suggestion as your white flag, and if that wasn't enough to signify surrender, your need to gauge the success of our recovery by comparing to other countries does.Oh, bless you heart again.
You have convinced yourself (in opposition to objective reality) that the U.S. isn't crushing all other G7 economies post trump and Covid. It must be a sad place you live in, to root against the success of our country.
The US economy is crushing it compared to other rich countries
US economic growth beat expectations in the fourth quarter, and it's outpacing most of the world's wealthiest countries.
Subscribe to read
If you take down the strongest economy in the world, the recovery should be the strongest as well. Too bad it isn't as strong as it could be, and too bad apologists like you have to express satisfaction with it just to claim you're not losing.
Oh, the magical "what could be". Lol. You have some imagination but it's cool that you have shifted from "ruination of an economy" to acknowledging that your are currently living the fastest recovered economy of all developed economies. There's a reason no Fortune 500 CEOs backs trump and his plan to
Make
Inflation
Great
Again
Wait until you learn about how the U.S. is now on a pace to prevent China from overtaking the U.S. economy.
The Colbert one was gold too. New accent just dropped! I like this one better than her other fake accents if I'm being honest.
We be jammin', mon!
Kamala Harris mocked over yet another ‘accent’ during Stephen Colbert ‘Late Show’ appearance
Kamala Harris was ripped on social media for unveiling what critics claimed was a Jamaican tone during her sit-down on CBS’ “The Late Show with Stephen Colbert” Tuesday night.
nypost.com
By your analogy, you think MJ didn't want to win NBA championships but really wanted to win an imaginary non-descript thing where measurements of success really don't count. That's silly.
BetterHelp | Professional Therapy With A Licensed Therapist
BetterHelp offers affordable, convenient online therapy when you need it from licensed, professional therapists. Get help, you deserve to be happy!
How much so far are you wagering on Donald Trump to pull the upset and win the election?
What are Trump's odds of winning the election? Here's why they just got better
Bettors are making stronger guesses at who will win the 2024 election. Recent polling doesn't appear to be fueling their hunches about Donald Trump.
www.usatoday.com
I love comments like this. It's like saying "prove that the square root of 71 is 8.426149773176359, but you can't use math."
Sick deflection. You make this too easy, lol.
But to answer your question, I haven't wagered anything on this election. The one guy I asked to wager with me didn't have the nuts to do it:
Similar threads
