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Inflation at its highest in 40 years…

Discussion in 'BBS Hangout: Debate & Discussion' started by LosPollosHermanos, Dec 10, 2021.

  1. Astrodome

    Astrodome Member

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    I guess we will see. You can be sure "build back better" would have.
     
  2. Space Ghost

    Space Ghost Member

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    Maple syrup might double, not that anyone bought that anyways. Sucks for Canadians. Should have cancelled terrance and phillip a long time ago
     
  3. adoo

    adoo Member

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    you know that the title of this thread is "inflation at its highest in 40 years", no?
     
    #183 adoo, Feb 10, 2022
    Last edited: Feb 10, 2022
  4. Astrodome

    Astrodome Member

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    I wouldn't think the canada stuff has much to do with the current year over year #. So we will see.
     
  5. rocketsjudoka

    rocketsjudoka Member

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    US trade with Canada was over $664 billion in 2021. That’s a lot of maple syrup.
    https://www.census.gov/foreign-trade/balance/c1220.html
     
  6. rocketsjudoka

    rocketsjudoka Member

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    ramotadab, fchowd0311 and Andre0087 like this.
  7. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    I'm impressed that a man with no education in economics can make such a certain claim.
     
  8. fchowd0311

    fchowd0311 Member

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    That's the issue with how citizens look at government economic policies.

    BBB is meant to inject money into our infrastructure system that severely needs it from expanding broadband to repairs to roads and bridges.

    Inflation has two main causes. Money supply and supply chain.

    Improving our infrastructure system increases supply chain efficiencies. But the fruits of BBB won't be seen until multiple years from now.

    But that is one of the purposes of government. Private industry only cares about short term gains. The way the market works, corporations couldn't give two ***** about 20 years from now. The government through the interest of private citizens theoretically take care of those long term interests as a nation but but modern corporate media and propaganda by the wealthy in general has created a situation where private citizens like you and I make voting decisions based on quarterly gdp numbers and quarterly inflation and job numbers which results in a situation where the government inacts policy that just satisfies the short term quarterly profit motive of industry.

    So now we have both the private industry and government just with one singular purpose and that is to maximize return for investors.
     
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  9. asianballa23

    asianballa23 Member

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    no matter where you go out to eat, nowadays you're expected to spend at least 50 bucks for a family of 4.
     
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  10. Astrodome

    Astrodome Member

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    I agree with you. Infrastructure is something that will help the supply chain. I support that portion of the bill.
     
  11. FrontRunner

    FrontRunner Member

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    Gas prices — they're lower than you think
    Indexed cost of unleaded fuel is nowhere near the ‘all-time high’ of hysterical headlines

    Autoblog.com
    MARK RECHTIN
    Feb 11th 2022 at 11:22AM

    Politicians and various bad-at-math members of the mass media are doing a heroic job of informing Americans that we are paying higher-than-ever prices for gasoline to fill our cars. Fortunately for us, that is entirely false.

    On the surface, it looks pretty bad. The average price at the pump rose 49.6 percent in 2021, the largest year-over-year increase since April 1980, according to data from the Bureau of Labor Statistics. But remember, the original price-per-gallon came from an incredibly cheap starting point.

    The thing is, like gasoline itself, the price of gas is volatile, subject to myriad, seasonal fluctuations that tend to average out over time. We simply have poor retained memories that oil companies routinely sock it to the consumer for seemingly random reasons: pipeline breaks, seasonal demand, regional warfare, hurricanes or newly implemented reformulation expenses. We remember the price spikes and forget the slow regressions to the mean.

    This spike has happened while overall consumer prices rose 7.5% in the 12 months prior to the end of January, a 40-year high in the Consumer Price Index that was reported on Thursday — so we're understandably alarmed by gas prices when everything around us costs more. But when you look at the past 40 years of gasoline prices, you get a different picture. If we analyze gasoline prices going back to 1980, what we are paying right now at the pump is actually near a 40-year low.

    What the current price-per-gallon hysteria fails to account for is decades of inflation. To correct for that, we have to measure purchasing power in “constant dollars,” accounting for the shifting value of a dollar over time. According to Platt’s Market Data, which tracks historical gasoline prices (on page 170 of this government report), the average price of a gallon of regular unleaded was $1.25 in 1980. Fast-forward 40 years to December 2020, and that would be the equivalent of $3.77 in today's dollars when adjusted for inflation. Yet in that month, the national average price we were paying was just $2.17.

    But what about the recent spike? By the end of 2021, unleaded had marched up to $3.48, which is right about where it stands as of today, according to AAA. In other words, it’s still less than if gas prices had merely matched the march of inflation for the past 40 years. You may think you are paying too much, but gasoline remains one of the great deals in the economy...

    Continued...
     
  12. deb4rockets

    deb4rockets Member
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    The sad part is that the people working at these restaurants get paid an unlivable wage.
     
    #192 deb4rockets, Feb 11, 2022
    Last edited: Feb 15, 2022
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  13. Xerobull

    Xerobull ...and I'm all out of bubblegum
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    Four words from a father of three boys:

    Chili Mac Home Buffet.
     
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  14. asianballa23

    asianballa23 Member

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    lol, should take a pic of that yummy meal and share with us
     
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  15. tinman

    tinman 999999999
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    Expensive breh
     
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  16. jiggyfly

    jiggyfly Member

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    What age range are we talking about?

    You can feed a family of 4 for that amount in several places and Definitely from a fast food place or a pizza place.

    Depends on what you mean by going out, I am cheap and I think 50 bucks for a sit down dinner is kinda low for anything other than a mid level buffet.
     
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  17. deb4rockets

    deb4rockets Member
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    I'd rather spend $25 and make a nice home cooked meal than $50 for food that isn't even that great. Guess I'm cheaper than you.
     
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  18. jiggyfly

    jiggyfly Member

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    That's my MO as well but but I realize how prices are and you have limited places you can have a sit down meal with 4 for under 50 when you include drinks and appetizers or desert.
     
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  19. tinman

    tinman 999999999
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    @Jontro
    No more salt grass steaks breh
     
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  20. bobrek

    bobrek Politics belong in the D & D

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    Yeah...even before inflation, it was hard for just 2 adults to spend less than $50 on a sit down dinner at a restaurant.
     
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