General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAbout All Of This Hand Wringing Over Inflation
Well I got my hair cut. One of the girls from the shoppe is visiting relatives in S. Korea. She told her co-workers in the shoppe that she could never afford to live there because everything is so expensive.
Jerome, maybe inflation in the US isn't so bad after all?
unblock
(52,331 posts)The target may be 2%, but the reality is that 3.1% is, on average, normal and typical going back over a century (back to 1913).
https://inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp
We're slightly above that perhaps but still 3 point something.
What we have is normal and consistent with decent growth.
Whining about inflation with keeping it in perspective is ridiculous and biased in favor of the right wing.
Ocelot II
(115,869 posts)h2ebits
(646 posts)Generally, when I see the information there is one sentence that will say something along the lines of the fact that inflation is lower in the United States than in other countries by a sizeable percentage. Occasionally, someone will do a chart showing the different countries and their percentages of inflation but. . . .
the inflation rate is a huge political football for the Republicans and the Democratic Party needs to do a better job of advertising the fact that we are doing really well by comparison to the rest of the world. We have lots to run on in the upcoming election besides abortion. AND, we need the American people to understand the financial aspects of what is happening to us.
Johnny2X2X
(19,118 posts)In reality, the US handled global inflation extremely well, especially considering we're such a huge part of the global economy. It really should be a positive for Biden how he tamed inflation when all of our peers are still struggling with it more than we are.
But the media has been relentless and has never told the whole story. Even now, 3.5% inflation shouldn't really be a negative story when the overall trend is down.
Fiendish Thingy
(15,658 posts)What rate of inflation could Biden still get re-elected at? 5%? 7%? 10%?
Thats where we will be headed if rates are cut too soon.
If holding rates steady keeps inflation under 4% and moving towards the 2% target, Im OK with that, and I dont think that will harm Bidens chances.
P.S. the only hand wringing over the latest inflation numbers that I see is largely by the financial/business media, aside from the little 1% tantrum investors threw after the numbers were released.
Im not sure this is as big a deal as you seem to think it is.