Despite all the right wing wailing inflation is tame. Consumer prices unchanged.

Despite the erroneous prognostications by the far right consumer prices on average remained little changed in July continuing a trend.

Link.

The far right warned us about the "bond vigilantes" that never showed up. Then we got the dire predictions about inflation... which hasn't shown up. Then we were told by Glenn Beck and Rick Perry to buy gold. Gold has been sinking since it peaked last year. So with all this awful predicting is it now time to just tune the far right out when it comes to economic issues?

 

bahahahahhah FAILUREEEEEEEEEEEEEE

 

Gasoline is back up to $3.70 a gallon and ground beef is nearing $6 a lb. Not sure who buys the supplies for the OP's family, but it dang sure isn't him/her.

 

Its crazy. I have gone food shopping with the wife a few times recently, everything is expensive. we spend at least $80 and we barely buy anything. And its funny talking about ground beef. Have you seen how much it costs to buy pre-made burger patties? lmao the op must live in liberal lala land.

 

Laundry detergent is ten friggin dollars at the DOLLAR STORE! $7 or $8 for a 12 oz bag of decent coffee. Not saying it's all Obama's fault... but to say prices aren't sky high is a downright lie.

 

It's better to go with the overall statistic then to point out that one item has gone up because it is more likely that that one item has a specific reason for going up that only applies to it. Like gas, it's gone up because of higher international demand and insufficient supply, not because everything's going up.

 

Any word on gas prices during Obama's administration?

 

I have a recipe for making my own detergent. Significantly cheaper than what you are buying and there are inexpensive ways to put the phosphate back in it to get your clothes clean. Do ya want it??

 

It's still Bush's fault.

 

Here you go...

 

No, but I appreciate the offer. It's bad enough I have to wash the clothes, if I have to make the detergent too, I'm quitting.

 

LoL. I understand.

 

But Joe Biden says that Americans can now afford to drive the cars we're living in!

 

I don't need some freakin' obama hack telling me how great things are out here. I'm not an idiot. I can see for myself. I see gas prices, food prices, restaurant prices and everything else. I'm now getting to see friends having to tighten their belts in order to make payroll for their employees. Don't freakin' tell me how good things are. I KNOW what's going on.

 

No that's called free market capitalism.

 

From the article...

 

do you buy anything with your own money or does mama pick it up for you. Ask anybody on here how well things are going.

 

your name says it all.

 

Not mentioned by the OP is according to the CPI,medical care commodities and medical care services costs have risen.
Medical care sevices=4.4 Medicare Care Commodities=3.4

What happened?We were told ObamasCare would lower costs?

 

No president can stop international demand for gas from rising!

 

Actually you can only tell how things are in your immediate area and on products in you're very few retail stores. You do need someone with accurate statistics to tell you how things are. Although you got a point that someone biased towards Obama will have bias in their analysis, so don't listen to them. Listen to the unbiased statistics.

 

Inflation hasn't actually hit yet because the majority of the money supply is still being held by banks. Check FRED for the actual data. We'll get a rude awakening down the road.

 

CPI figures take into account what people spend, not what they buy. If people aren't spending more on meat, but are simply buying cheaper cuts or meat with fillers, the index doesn't rise. It's why people are eating garbage fish like Tilapia rather than Halibut.

 

No, there has been significant inflation.
Prices have not obviously risen because costs have gone down. Wages are lower (since there are more desperate employees willing to work for less) and the rent for commercial real estate has gone down, since many businesses were driven to bankruptcy. Or if we want to look at it a different way, rents quantified in dollars went up during the real estate bubble, but now have not been allowed to come back down because of real inflation.

If it was not for the Federal Reserve's expansive monetary policy, prices in dollars would have gone down. Consumers are still worse off now than they were 15 years ago. In comparing inflation, it is very important to use an index from before the economic bubble, not during it.

Typical ways to see the effects of real inflation are looking at the price of gold or oil, but unfortunately there are other confounding factors that would make this problematic. The Chinese, with all their exports, have plenty of American money to buy oil, bidding up the price. And ever since the stock market crash, gold has been subject to higher speculation than usual.

I would argue that prices may not have changed much in the last 5 years, but purchasing power has gone down; people are earning less or even unemployed. The average person must work more to buy the same things.

We would all be better off if the prices were allowed to fall. So why is the central bank doing everything it can to prevent prices from going down? The Federal Reserve bank chairman talks about the "dangers of deflation", and they are also trying to prop up the value of residential property! How are people who are earning less going to be able to afford a home then, when the central bank is devaluing our money so it can artificially keep the price of homes higher? Starting early in 2009, the Federal Reserve, Congress, and the Obama Administration spent hundreds of billions of dollars trying to keep house prices from falling.

Basically the core of what I am saying is that the inflation may not be apparent, but we are all worse off because our central banks have been printing more money.

 

Dontcha know, the CPI excludes food and energy. Who needs those?