"Inflation is coming down"

[shrubberyvaluation]

One of Biden's campaign lines is "Inflation is coming down." The media dutifully repeats it, but they have the memory of a goldfish.

Cleveland's Fed Nowcast has February's Core CPI at 3.7%. So it is actually increasing, again and not 'approaching' 2%.

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Its those greedy appraiser's fault people can't get cheap housing, oh yea and they are discriminating by appraising properties too low.

 

[Terrel L. Shields]

It cost me $9.57

C Store chicken (3 piece + 2 potato planks) and a milk $14.35 - Last nights "night on the town." The catfish dinner that was $9.99 10 years ago? $27.40 before tip.

 

[Terrel L. Shields]

882 billion for interest alone

 

[James Mpls]

882 billion for interest alone

This is why I save in Bitcoin.

 

[Elliott]

The 'other' cost of inflation, because to kill the beast you have to raise interest rates:

 

[Terrel L. Shields]

Bye Bye Baby gone
Walgreen closes 1,000 stores - loses $1.5 Billion.
CVS - closes hundreds of stores.
Roti
TGI Fridays - been around for 50 years plus - files bankruptcy.
Red Lobster- bankrupt along with hundreds of companies
BitCoin up, gold up, silver up
7-11 closing 450 stores and says smokers are cutting purchases 25%...well that's a plus sort of.
Post office losing business and cutting staff? Package delivery one and box delivery 3-4 days a week?
Offshoring energy so the lithium miners in Asia and S. American make a living but not the oil worker in Oklahoma. An entire country committing suicide.

Who is going to buy this AI built crap if everyone loses their job? People are cutting back spending, yet they cannot fix their own car and cannot even change the battery in their phone because it is built in. Everything costs too much. We will look like Cuba with pre-2000 autos bringing a premium because they are fixable. Ditto appliances.

 

[Fernando]

Nearby Walgreens closed. I thought it would stay vacant for a long time.
Tried to sublease.
Now I'm seeing it being remodeled....as a place of worship.

 

[Non Sequitur]

IF U.S. incomes spiked 60%, we'd return to pre-pandemic housing affordability levels

IF U.S. home prices fell 38%, we'd return to pre-pandemic affordability

IF mortgage rates fell 4.15 percentage points (from 6.5% to 2.23%), we'd return to pre-pandemic affordability

Source: Fannie Mae's new analysis

 

[Charles West]

IF U.S. incomes spiked 60%, we'd return to pre-pandemic housing affordability levels

IF U.S. home prices fell 38%, we'd return to pre-pandemic affordability

IF mortgage rates fell 4.15 percentage points (from 6.5% to 2.23%), we'd return to pre-pandemic affordability

Source: Fannie Mae's new analysis

The magic of monetary inflation, you didn't even get kissed.

 

[Terrel L. Shields]

35 trillion dollars in debt. Damocles sword hanging over us by a thread. When will it drop?