***Biden wins presidency-Boy are we toast***

[CountValentine]

Celebrate the "great" numbers all you want, similar to likes they don't put food on the table.

I am surprised you don't understand how the economy works if you think they are like likes.

[CountValentine]

The nutcase right just can't handle factual good news.
https://www.msn.com/en-us/money/markets/republicans-are-outraged-at-joe-biden-for-accurately-describing-the-economy/ar-AA10xgDe?ocid=msedgntp&cvid=fea524cb50404383b7067ac577ee00be

[avromie7]

I'm actually surprised at how much flak CV is taking. Most of the arguments about why this is bad news are dead wrong.

Unfortunately the inflation that already happened is not going to reverse. At this point the good news we're looking for is for inflation to go back to normal. Although there are some major caveats, most notably that the entire decrease in gas prices was wiped out by inflation in other categories, the idea that inflation M/M is it 0% is definitely good news.

Will inflation remain at 0% M/M for the next few months? Definitely not without a recession, but with transportation costs being a leader in inflation, fuel prices coming down to more manageable levels is excellent news and will likely lead to lower inflation in the coming months.

[CountValentine]

I'm actually surprised at how much flak CV is taking. Most of the arguments about why this is bad news are dead wrong.

Unfortunately the inflation that already happened is not going to reverse. At this point the good news we're looking for is for inflation to go back to normal. Although there are some major caveats, most notably that the entire decrease in gas prices was wiped out by inflation in other categories, the idea that inflation M/M is it 0% is definitely good news.

Will inflation remain at 0% M/M for the next few months? Definitely not without a recession, but with transportation costs being a leader in inflation, fuel prices coming down to more manageable levels is excellent news and will likely lead to lower inflation in the coming months.

The flak is coming from political positions. They fully understand this is good news but can't bring themselves to say it.

Look at all items less food and energy. That is at .3 which I feel is acceptable. We can also see a decrease there in coming months. I already pointed out we need more months going forward to see what is going on.

[Baruch]

I wonder if OP would still title this thread "***Biden wins presidency-Boy are we toast***"

Oh how MAGA has fallen, bottomless pit

[yesitsme]

Gas plummeted 10 ˘cheaper then last month
Good times
Thank you Biden

[CountValentine]

Gas plummeted 10 ˘cheaper then last month
Good times
Thank you Biden

It was more than .10 but would you rather it went up?
Do you understand if we get these same numbers for the next 11 months, we will have ZERO inflation for the year (July-June)?

[yuneeq]

Do you understand if we get these same numbers for the next 11 months, we will have ZERO inflation for the year (July-June)?

And if pigs had wings they could fly. How’s this for mr. goalposts. Which number is the headline number used for CPI reporting - annual or month/month - and why?

[CountValentine]

And if pigs had wings they could fly. How’s this for mr. goalposts. Which number is the headline number used for CPI reporting - annual or month/month - and why?

The main/most reported CPI number is the last 12 months. Month to month gives a good idea where we are headed.

No matter which one you use they are both good news. I stated year of year until the political nonsense started trying to say these numbers are bad.

[yuneeq]

The main/most reported CPI number is the last 12 months. Month to month gives a good idea where we are headed.

No matter which one you use they are both good news. I stated year of year until the political nonsense started trying to say these numbers are bad.

Fair enough. IMHO year over year is bad, slight decrease notwithstanding. Let’s see if the month/month numbers hold but I’ll take it as a good news for now. Not everything is about politics, and not everyone thinks it’s sensible to give credit to someone who at best, slightly temporarily reduced the harm he caused, and is still far away from where he started (and no one thinks he’ll ever get near there).

[CountValentine]

I have said many times already we need to wait for months to see if this massive drop is just a blip.
We got a good CPI, jobs and UE numbers but the spin is they are bad. The market thought the CPI was great.

[CountValentine]

I wonder if OP would still title this thread "***Biden wins presidency-Boy are we toast***"

Oh how MAGA has fallen, bottomless pit

It needs to be change as this guy is on a roll.
I am sure some will spin this as a bad thing.
https://www.msn.com/en-us/news/us/significant-victory-how-the-inflation-reduction-act-would-save-medicare-drug-costs/ar-AA10y6yH?ocid=msedgntp&cvid=27467a71a85c4574b0c3a5776b97084c

Is this the most successful week or two for any president in our history? 

[avromie7]

It needs to be change as this guy is on a roll.
I am sure some will spin this as a bad thing.
https://www.msn.com/en-us/news/us/significant-victory-how-the-inflation-reduction-act-would-save-medicare-drug-costs/ar-AA10y6yH?ocid=msedgntp&cvid=27467a71a85c4574b0c3a5776b97084c

Is this the most successful week or two for any president in our history? 

You can only call that a win if you don't look at the unintended consequences.

[CountValentine]

You can only call that a win if you don't look at the unintended consequences.

Capping Medicare OPE and negotiating drug prices is a big win. The election deniers are the ones claiming this is not a big win.

I won't ask if you an election denier because the last two I asked got all upset. 

[CountValentine]

Since the numbers will be twisted politically let's just talk about legislation passed.

Is this the most successful couple of weeks we have ever seen for any president?

[aygart]

Gas plummeted 10 ˘cheaper then last month
Good times
Thank you Biden

At the end of the day it is better than a month ago.

[aygart]

Since the numbers will be twisted politically let's just talk about legislation passed.

Is this the most successful couple of weeks we have ever seen for any president?

Amazing how that only happened while he was in isolation.

[aygart]

The market thought the CPI was great.

This specific aspect is more likely due to how they hope it will affect interest rates.

[CountValentine]

Amazing how that only happened while he was in isolation.

Political position.

[CountValentine]

At the end of the day it is better than a month ago.

Hopefully we can say the same next month that remains to be seen.