Zippergate said:
dajo9 said:
Cal88 said:
dajo9 said:
movielover said:
Cal88 said:
Strategic oil reserve down to 17 days, its lowest level ever, just as things are flaring up in the middle east...
Joe Biden did this. ^^^
You know what's interesting about this chart? It's always lowest when the economy is strongest. Thanks for pointing out the strength of Biden's economy.
Kind of like how the economy is strongest when demand at food banks is up 600%?
GDP is expected at 2.2%
Inflation is way down from peaks and inflation ex shelter is 1.9%. Shelter is lagged as it takes time for leases to catch up with spot rates.
Jobs are booming and unemployment is 3.8%.
Real wages are keeping up with inflation and jobs at the low end are ahead of inflation from pre-pandemic levels.
These are the data driven facts. Your side will continue to push a negative narrative regardless. It's what you do. But you aren't up against me - you are up against the data.
Inflation is down temporarily. Shelter is down because of 7% mortgages; that isn't sustainable. Wage inflation is a real problem.
There is a lot of gobbledygook in what you wrote which is a good approach for you, since when you get into specifics you expose yourself as not knowing what you are talking about.
First, shelter is not down. Shelter is lagged to spot rates and is still at 7.2% in August. CPI ex Shelter was at 1.9%. The Zillow Observed Rent Index (the spot rate) is at 3.3% so Shelter CPI will continue to come down as leases (reflected in Shelter CPI) catch up to spot rates.
Second, mortgages rates have marginal impacts on Shelter CPI. Shelter CPI is calculated from rent and Owner's Equivalent Rent (OER) which is a guess at rent for homeowners. For homeowners staying put (most homeowners), Shelter costs haven't changed at all and their Shelter inflation is zero, even though it is reported at 7%+. Therefore, Shelter CPI is a vast overstatement to what is happening in the real world.
Third, now you are complaining about wage growth when you spent all of 2022 complaining that wages weren't keeping up with inflation. A big problem in 2022 was greedflation, in which companies drove up inflation to maximize profits. You all denied it existed. Now that wages are ahead of inflation (which is a good thing), you are complaining that wages are high. I know it's a hard time for you all. You wanted inflation to destroy the Biden Presidency. He has seen us through the Trump/Biden Covid stimulus inflation. The economy is strong. The corporate news will never admit that about a democratic Presidency and neither will you.
https://en.macromicro.me/collections/5/us-price-relative/49740/us-cpi-rent-zillow-rent-yoy "They're eating the pets"
3 time Republican nominee for President