The United States has surged back!

For the Cry Baby Loser, it's always only about the Cry Baby Loser, not ordinary Americans, and he's hoping that the thriving U.S. economy collapses.

Whiny old Trump has expressed his wish that the U.S. economy that has thrived under President Biden will crash soon.

“When there’s a crash — I hope it’s going to be during this next 12 months
because I don’t want to be Herbert Hoover.
The one president I just don’t want to be,
Herbert Hoover!”​

Trump is the only president other than Herbert Hoover who actually lost jobs during his four-year term.

While he duplicated Hoover’s feat, Hoover never hoped for an economic crash to serve his personal ambition rather than the nation.

The U.S. added 216,000 jobs in the final month of 2023 and kept the unemployment rate at 3.7 %, far exceeding the expectations of economists. The annual inflation rate also dropped from 9.1%, a four-decade high, in June 2022 to 3.1% in November.


https://thehill.com/homenews/campai...t-12-months-i-dont-want-to-be-herbert-hoover/

A Shared Distinction​

 

You're joking right? One shopper in one area is "proof" that invalidates the CPI...? lol...

 

People experience inflation as a comparison between what they remember and the present.

 

Sure, it's just that looking at one shopper, in one area, is not going to be comprehensive enough to evaluate CPI in the whole country. It doesn't evaluate the CPI, can't prove it incorrect, and couldn't really invalidate anything unless somebody claimed no prices went up anywhere. It's more anecdote than data.

 

Yes, and . . . ?

 

The post by you I initially quoted suggested the CPI is inaccurate based upon one shopper's experience. It's not.

 

". . . Sorry for the long list of examples, but it’s important to show that I’m not cherry-picking a few items. These data suggest prices of most staples that many families depend on have increased by around twice as much as the official food inflation rate — confirming consumers’ suspicions. . . . "

 

It was a long list from somebody's shopping list. The items may not be cherry-picked, but one individual shopper in one store is still just one cherry in this context.

In contrast: What Is CPI? How Does It Track Inflation? – Forbes Advisor

"The BLS refers to a variety of sources to calculate CPI, including the prices of goods and services from about 23,000 retail and service establishments throughout the U.S. It also collects data from about 50,000 landlords and tenants to determine the changes in the price of rent.

The basket of goods and services used for CPI includes popular items that Americans regularly purchase. The value of the items is proportional to how they are sold. The current cost of the basket is compared to its cost in the prior year, and then multiplied by 100 to determine the percentage."

 

But it makes the point.

 

No, it doesn't, we have no idea if her experience is representative of the overall country. As I added to the other post, CPI is based upon about 23,000 stores throughout the country. But it is an aggregate of many different kinds of things. It's certainly plausible that food did worse than other types of goods, but her experience doesn't "prove" that.

 

As you wish. For me, I see no reason to propose a conspiracy theory about one WalMart.

 

It's not even that, it's just not comprehensive enough. You seem to assume Walmart is the same nationally price-wise. It isn't. Missouri is one of the more expensive places. And are these relationships stable over time or do some states have good years vs others. I don't know - actual comprehensive data would be needed. The Price of Walmart Groceries in Every State - CashNetUSA Blog

 

I really don't care about your conspiracy theory.

 

The point is that neither you, nor the article you cited, appear to understand applied statistics. I have more experience with biostats than economics, but it ought to be clear that one store is not necessarily a representative sample of the entire economy. N=1 isn't a valid study anywhere. Is the store average? Is it worse than average? Better? Who knows? N=1 is insufficient information to judge.

 

And yet the data are the data. This is not a statistical issue; it's a political issue.

 

The data provided is insufficient to draw conclusions. Very insufficient. It would be like relying on the outcome of one patient to evaluate a drug.

 

That doesn't matter in the slightest.

 

It does if one is trying to answer the question of how much prices went up in the United States.

 

I'm not.

 

Here's some news.
Bidenflation Steady at 16.6%, With No Signs of Easing

TIPP Insights

 

Problem is they switch out goods in that basket to understate cost of living/inflation. Been doing it for decades.

 

Biden's America has dealt with global inflation far more effectively than most nations.


Inflation Is Down
The Federal Reserve’s monetary restraint was crucial in slowing the rise of prices.

Consumer sentiment soared 13% in January to reach its highest level since July 2021, showing that the sharp increase in December was no fluke. Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations.

 

We shall see.

 

I am told I need to write a comment with my photos, and that that comment is 'yes'.

 

Be more savvy in deciding where you shop.

This local doughnut store is offering a $12-a-dozen promotion


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