this post was submitted on 24 Jan 2024
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98
Americans’ economic outlook brightens as inflation slows and wages outpace prices (www.denverpost.com)
submitted 7 months ago by [email protected] to c/[email protected]
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[–] [email protected] 50 points 7 months ago (2 children)

Corporate profits are at all time highs. CPI doesn’t include food, gas or energy. Formulas have been modified.

Fuck Trump, but also— stop lying to the general public regarding inflation, shrinkflation, and greedflation.

This White House actually tried to gaslight the public about the term Recession by changing the definition. So insulting and embarrassing.

Again— fuck Trump. He is undoubtedly one of the worst people on the planet.

[–] [email protected] 11 points 7 months ago (1 children)

https://www.bls.gov/cpi/

They provide the data with and without food/energy. Looks like as of Dec 23, including food and energy reduces cpi when compared against excluding it because energy prices have dropped.

[–] [email protected] 7 points 7 months ago

And for context wages have not caught up the baked in inflation. Only the velocity of it. So prices are rising slower than wages.

[–] [email protected] 50 points 7 months ago (3 children)

I'll save everyone a click. Pay is up 2.5%. Food is up 20%. Those are not typos. They're trying to spin this so hard they're making cotton candy out of it.

[–] [email protected] 15 points 7 months ago (1 children)

I don't care. Please tell me corporate profits are up?! /s

[–] [email protected] 2 points 7 months ago

Oh definitely.

[–] [email protected] 8 points 7 months ago* (last edited 7 months ago)

But it clearly says everyone is so happy! Our problems are solved! Oh and wages are outpacing the price gouging!… who the fuck writes this shit

[–] [email protected] 2 points 7 months ago (1 children)

Some much needed context - the numbers This comment refers to are calculated from since the pandemic - the headline of this article probably refers to the results this year, which are.... Less bad. Not quite good, but less bad.

[–] [email protected] 5 points 7 months ago (1 children)

Lol. It's not like like that inflation went away. It's baked in. Until wages outpace inflation long enough to eat that lead back up. A good way to visualize it is as a race. Inflation gained a huge lead and wages going faster for one lap isn't going to close that lead.

[–] [email protected] 5 points 7 months ago* (last edited 7 months ago) (1 children)

Right, but the headline isn't as ridiculous as your original comment makes it out to be. Folks can easily interpret your comment as the article is trying to spin food prices being up 20%, and wages being up 2.5% as a good thing, when it's not saying that. Things are getting better, but there's a long way to go.

[–] [email protected] 4 points 7 months ago

There's been a long way to go since the 1970's. And that's exactly what they're trying to spin. They want people to read the headline, feel okay, and then not understand the numbers.

[–] [email protected] 31 points 7 months ago (1 children)

Wages outpace nothing. I got a raise because state minimum wage came to $15, and rent went up 10%.

[–] [email protected] 15 points 7 months ago

Landlords absolutely collude over pricing and land is a limited resource so there's no competition allowing them to bleed people dry. We need to put up limits on rental profit and we need it like 5 decades ago.

[–] [email protected] 26 points 7 months ago (37 children)

I still wonder how many idiots will not only vote for donnie (or sit out) because of Gaza, or - just as stupidly - vote for donnie because "Bidenflation" and little d's supposedly "great policies" I keep hearing he supposedly had.

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[–] Reverendender 17 points 7 months ago* (last edited 7 months ago)

Ah, the America of alternate-earth 329

[–] [email protected] 16 points 7 months ago (1 children)

Y'all are getting higher wages?

[–] [email protected] 5 points 7 months ago

Took a pay cut this year.

[–] [email protected] 9 points 7 months ago

Ooo... Push and pull inflation at the same time. This'll be fun.

[–] [email protected] 2 points 7 months ago (1 children)

Good news everybody!

[–] [email protected] 5 points 7 months ago

Reduced inflation ≠ deflation

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