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Inflation rate down to 2.1% annualized in April.
Inflation rate slipped to 2.1% in April, lower than expected, Fed’s preferred gauge shows | Watch
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Huh, it’s almost as if energy prices affect prices for everything (production, transportation, etc.), therefore, getting rid of oil and natural gas was a stupid idea. Oh, and then draining our Strategic Petroleum Reserve for political purposes was also terrible policy. And de-commissioning nuclear power plants was not that smart.
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I’m waiting for the update. It’s going to get much worse, but here’s a sneak preview:
I’m still mystified that you guys think Trump has discovered some secret economic formula that eluded the world’s economists for the last 100 years. As if implementing insanely high tariffs is not inflationary.
I mentioned a few months ago that it would take a few months to start feeling it. Economies don’t change on a dime, so to speak. There was a nice dead-cat bounce in the stock market and some of the numbers, as people rushed to stock up on supplies, to weather the storm while hoping Trump would not actually suicide the U.S. economy. Some companies have also been eating the extra costs. But reality will sink in soon. Corporations can’t hold out forever and keep swallowing the tariffs. And the pre-tariff supplies will run out.
Weren’t there supposed to be 90 deals in 90 days? It’s been well over 90 days. What happened to those deals?
NO MALARKEY
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Btd,
to you, is this report good news, neutral, or bad?
with that assessment, apply the same question to the recent inflation reports. Good? Neutral? Bad?
worst ppi report in 3 years. What was your assessment of the economy in summer 2022? Good? Bad? Neutral?
im seeking consistency and not finding it across the politicdd as l spectrum.
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Sic transit gloria mundi (so shut up and get back to work) -
Was I ever defending inflation in 2022? Please point me to those comments. I’ll do you a favor and quote myself:
Biden didn’t do himself any favors and spent too much, as well.
Biden is no longer President. I was critical of him many times. Trump is President now. And he is enacting insane economic policies while his cheerleaders engage in magical thinking, pretending it will all work out fine.
Do you think these tariffs are some 4-D chess move? What happened to the 90 deals in 90 days?
NO MALARKEY
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I think tariffs are taxes and that taxes are deflationary. These act through price, which can create some transitory price spikes. But aggregate demand goes down when taxes go up.
I don’t think Trump cares about that. I do think he cares about US competitiveness and a re set to global trade. The “what happened to 90 deals in 90 days” rhetoric ignores what has been done. The 90 deals is typical politician bluster (“shovel ready jobs” is one winner of similar magnitude, as was “no new taxes”).
Scientifically, and I don’t give the administration full credit for being scientific…they operate more like a jazz band, price is the best way to get things to restructure quickly. Tariffs go to wholesale price and we already see how fast supply chains restructure.
btd, were you comfortable with China supplying nearly a quarter of all U.S. imports? Do you believe that the U.S. should be the consumer market for the world? Do you think that the U.S. is special in needing lower trade barriers than most other countries in the world?
funny, I grew up a business school educated free trader, but never lost my sense of fairness. I then watched China steal and lie its way to owning IP and manufacturing assets it had no right to…and of course no tax on NATO. So I’m willing to see where this goes.
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Sic transit gloria mundi (so shut up and get back to work)
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