Inflation up 3.1% just last month

So how is everyone liking Bidenomics?

3% for just one month. How about another couple of months at 2-3%? All this added on to the 25% we've had since President Mail Ballot occupied the White House.

You will own nothing and be happy.

 

Our local savings account is growing and our 401k accounts are growing. It's to the point where we are able to throw an extra $2K a month at our mortgage which will result in it being paid off next year. Both of our cars are paid off and next year our house will be paid off. We will own our cars and home and be happy. ¯\_(ツ)_/¯

 

Thats good. When Trump was president we also saw our 401(K) growing like crazy; it was almost embarrassing it was doing so well. Plus, we didn't have inflation to deal with, or our government contemplating restricting OUR services to take care of the THOUSANDS of ILLEGAL MIGRANTS dumped on our door step or worry about the MILLIONS OF ILLEGAL MIGRANTS pouring across our borders, with God only knows how many terrorists among them.

That bill will come due in the future. Hopefully, it won't be as hard a bill to swallow as 9/11.

 

Thank you..it is good

 

And do you have a point? I guess you are like my parents....still thinking they make money with 5% CDs while inflation is 25%.

 

You made a blanket statement claiming people will own nothing. That simply isn’t true. ¯\_(ツ)_/¯

 

I think the report came out today, that the inflation rate came down in January from 3.5% to 3.1%https://www.investopedia.com/us-inf...expected-edged-down-to-3-1-in-january-8576610

 

Do you believe the government or your eyes when you see prices going up up and away?

 

.

 

Yes, I believe my eyes on what was actually reported.
You think it's bad now. Wait until the boarder is closed and we lose our cheap labor.

 

Oh I see, you're one of those.

If anything you said was true, then it ought to show up in a border state like Texas. Millions have invaded my state yet fast food joints are having to pay $15 bucks an hour to get any pathetic excuse of a human being to show up.

 

Do you not understand how inflation measures work or are you just trying to mislead other people who don't?

The 3.1% rate reported for January in the US is a measure of inflation from January 2023 to January 2024. It doesn't mean prices increase by 3% every month. Month-on-month inflation in the US is around 0.3% to 0.4%.

 

I understand how it works quite well. Actual pricing, not government propaganda.

Anybody that thinks inflation has only went up 3% in the last 12 months has lost their mind.

 

It's 3.1% for the year ending January 2024, not 3% for the last month. So much for spreading fake news.....

 

Why would you think that your personal situation is relevant to a macroeconomic discussion?

Whether the macroenomics are good or bad, I can assure you, is not dependent upon whether YOU have an extra 2k to throw toward your mortgage.

I cannot imagine what would have possessed you to think this is relevant.

 

See post #6 for an explanation. If you still don't understand then it really means you're just trolling

 

I read post number 6. It makes things even worse.

You basically took an obvious exxageration/joke statement sounding like Colonel Clink where he says " you will own nothing and be happy", and you reply with you being able to put an extra 2k toward your mortgage.

Did you REALLY think that you had to refute the notion that EVERYONE will own nothing? Is there anyone who otherwise believes that nobody will own anything due to his statement? Or do rational people see it for what it is which is an obvious exxageration while trying to be slightly funny.

Good thing we had you to clear things up with your story about what you put toward your mortgage. We are all now very enlightened with that knowledge. (sarcasm)

 

I don't think that the personal situation of the poster you are replying to is relevant to the thread. I am wondering, however, why you are focusing onto that, instead of correcting and/or criticizing the OBVIOUS false thread title and representation of inflation numbers in the original post.

 

Because he'd rather troll me.

And I disagree my post isn't relevant. The OP claimed no one will own anything, and I responded to that.

 

Yeah, people justifiably calling your post irrelevant is so darned flattering!! (sarcasm)

I pop in a bunch of threads and only participate in a tiny fraction.

If I feel compelled to reply to the OP or see a response that I feel moved to reply to, I do so. It just so happens in this instance, the OP didnt grab my attention to warrant a comment, but the strange/irrelevant reply did.

It is as simple as that.

 

It didn't warrant your attention that the OP misrepresentd inflation data, implying that the MONTHLY inflation rate was 3.1%, when it is actually the ANNUAL rate? I'd say that should draw a lot more attention than some poster talking about is own financial situation. Really, the OP should actually retract the thread, or at least apologize for misrepresenting the actual data.

 

So why did you reference the "government propaganda" figure without any challenge or contradiction? And why did you suggest "about another couple of months at 2-3%" as if it was relevant?

You're free to suggest a different year-on-year inflation figure for January and explain the measure you're using as a basis if you like. It's a complex concept to reliably measure and there are a whole load of different ways to view it. An general CPI rate for the US of 3.1% doesn't strike me as excessively unrealistic though.

 

In truth, I hadnt dug that deep into the subject. I glanced at it, while not doing a deep dive as to what report he was even talking about. At a quick glance I just saw it as a generic inflation is high discussion. It was only until you mentioned it that I realized his error. At that point, I'm not sure why I would jump in by repeating what you had just said.

 

Just warning you it is both a happy and weird feeling being out of debt. Last year it took me months to get used to not having to pay anything but those normal month to month debts. I felt like I was forgetting to pay something.

 

I look forward to that feeling