and once again, it’s catching on all over the country.
The Government is going on about how inflation, as they define it, isn’t going up; but for the working class, food and fuel and everything of importance is going up.
But iPods are down!!! Yay!
Fuckers.
You guys got on me for poo-pooing on the current definition of inflation but if you put your ear firmly enough against your window you can hear everyone else out there calling bullshit, too. That is, if you live close enough to working class America and aren’t sitting in some rich parent’s basement.
And the reasons everyone gave you then are still true now.
The price of gas and food have higher volatility than the other components of the core inflation rate.
If the government is going to have a monetary policy that addresses inflation it would be irresponsible to include two aspects with such high fluctuation, the number would be meaningless.
In year’s time the price of oil and food might fall considerably leading to what you would then have to consider deflation, while everything else considered to go up in price. I assume you’ll have forgotten this thread and use your selective amnesia to bitch about how the core inflation rate shouldn’t include food and gas prices.
And in a year’s time, if the price of oil and food stay high, the cost of most other things will predictably go up as a result.
Just because the core inflation rate leaves out gas and food that doesn’t mean the fed will ignore those as factors concerning economic growth.
[Moderating]
You’ve already got one Pit thread for your batshit economic rantings, and you just started it yesterday. Two such Pit threads is two more than I’d like to see, but one more than I’m willing to tolerate. This thread is closed. Feel free to continue your frothing in your other Pit thread.
[/Moderating]
