I love the word choices in mainstream financial media. Describing inflation as stubborn, as if command central had vanquished the beast, but it still hangs on before its inevitable defeat. In the end, it is really a misguided, religious devotion to socialism.
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According to the data and analyses of 'Trueflation', the CPI data on which the Fed bases its policy is lagging significantly behind.
https://m.stacker.news/16049
So how would you interpret this, Tom?
we have to assume that the Fed has all the data at its disposal, i.e. it also knows the truflation interpretation. but it is currently not in its interest to let the stock market run too hot, although in my opinion this is almost inevitable for the next few months. therefore, data is probably rather overstated at the moment. then all this has to be seen in the context of currency competition with the eurozone. we have a chicken game ahead of us here: whoever lowers first, loses.
I guess we also have to take into account the building pressure regarding the presidential election, though.
as far as the biden administration and the exorbitant debt behavior is concerned, i'm not sure exactly what role J Powell and the Fed are playing here. so far, he has made life difficult for biden in any case. so far, Janet yellen has also been lucky that the European Central Bank in particular has made massive purchases of us government bonds in order to keep interest rates lower in the US and prevent capital flight from the eurozone.
Food is the best gauge of inflation
That is incredible.
trueflation does indeed apply an interesting concept: https://truflation.com/methodology
Interesting. Found this in one of their blogs on their website:
Agreed. It's like a game to them to convince as many people as possible that we are waiting on the free market to equilibrate rather than the central planners deciding how they are going to screw everyone.
Putin price hike
There is no inflation
Yes, the media can surely produce attention-grabbing headlines and as for inflation, it is the diminutive wrong decision/policies the government makes that brings us here.
🤡🌎
brought to you by those stubborn, pesky central bankers
Of course they are making it into a beast, with its own agency, an externality of the system. "It's not us, the dragon just came, but rest assured our best knights are on the case."
They call Bitcoin a cult but fiat is way more of a cult than Bitcoin. These guys parrot the same tropes and follow the words of the Fed like a deity,
Mr Smith speach..
They have to keep the lie
Framing inflation as some 'natural phenomenon' (implicitly implying "so don't be angry at us") is the main trick or FIAT system.
Thought the same when first saw it published. Economists are the oracles and priests of our time.
First, there was no inflation. Then it was transitory. Then it was beaten. Lies don't compound somehow.
Socialism? Feels more like kleptocracy.
The only thing that impresses me is how they never tire of bullshitting.
But then, they could well be bots 🤖 these days, eh? If not literally, at least mentally.