Inflation Scaremongering

are you kidding me?


Just returned from Wine Library. Brought back 13 bottles for a total of around $200.00


STANV said:

Just returned from Wine Library. Brought back 13 bottles for a total of around $200.00

13 bottles of vodka for 200? I’m impressed!



hmm, how come I can't get that tweet to display properly?


drummerboy said:

hmm, how come I can't get that tweet to display properly?

Well, no one can now, they deleted the tweet.

A previous version of this report inaccurately implied that $5-a-gallon gasoline, $90 bottles of wine and $200 concert tickets were typical purchases of late among average Americans. The story has been corrected.

https://www.marketwatch.com/story/the-inflation-genie-is-out-of-the-bottle-as-consumer-sentiment-takes-a-hit-and-californians-pay-12-for-a-regular-burrito-11636747851?link=sfmw_tw


drummerboy said:

hmm, how come I can't get that tweet to display properly?

Did you use the widget?


Clearly the right is effective at scaremongering. If your outrage is expended now, any thoughts about how to counter the rhetoric? 


ridski said:

drummerboy said:

hmm, how come I can't get that tweet to display properly?

Did you use the widget?

yes


jimmurphy said:

Clearly the right is effective at scaremongering. If your outrage is expended now, any thoughts about how to counter the rhetoric? 

I'm less concerned with opposition rhetoric than I am with the media buying into it. But both need to be countered.

Inflation is a tough one to talk down. It's too complicated (especially today's version) to try and explain away with catchy sound bites. For those with memories of the 70's, they don't remember (or even ever knew) that the "solution" was to put us into an awful recession in the early 80's. Of course, our current situation isn't even close to that of the 70's.

If inflation doesn't calm down reasonably soon it'll be the biggest issue for Nov. 2022.

Wouldn’t the MMT solution just be to raise taxes?

Sorry, couldn’t resist. ;-)

It’s true that this could be a big issue. The combination of the Spring stimulus, the pent up-demand, and the supply chain stuff makes this a real political challenge. Even more so if BBB passes, pumping more money into the economy.

And before I’m vilified for suggesting that, I agree with Brooks that it is worth it. Interesting that there are no substantive responses to that column.







jimmurphy said:

Wouldn’t the MMT solution just be to raise taxes?

I mean, yes -- and it would probably work. But, OTOH, it's hard to imagine Congress raising taxes as an inflation-fighting measure, isn't it? The de-emphasis of monetary policy in favor of fiscal policy makes sense, academically, but seems naive at best when applied to the real world.


PVW said:

I mean, yes -- and it would probably work. But, OTOH, it's hard to imagine Congress raising taxes as an inflation-fighting measure, isn't it? The de-emphasis of monetary policy in favor of fiscal policy makes sense, academically, but seems naive at best when applied to the real world.

Yeah, that was said a bit tongue-in-cheek.


There was some semi-reassuring -- and comprehensible! -- commentary on inflation, from an actual economist, on On The Media today.  About 20 min. and probably online already.  (Potentially error-ridden transcript will probably be up by the end of the week.)


Marketwatch has deleted the tweet that I posted in the OP (which might explain why it's not displaying correctly.)

(also, does anyone else think that Kai Ryssdal is the smarmiest sounding voice on radio? It's like he's always talking from behind a pandering smile.)


Confusing “Marketwatch” with “Marketplace”, the American Public Media shows.

drummerboy said:

Marketwatch has deleted the tweet that I posted in the OP (which might explain why it's not displaying correctly.)

(also, does anyone else think that Kai Ryssdal is the smarmiest sounding voice on radio? It's like he's always talking from behind a pandering smile.)


nohero said:

drummerboy said:

Marketwatch has deleted the tweet that I posted in the OP (which might explain why it's not displaying correctly.)

(also, does anyone else think that Kai Ryssdal is the smarmiest sounding voice on radio? It's like he's always talking from behind a pandering smile.)

Confusing “Marketwatch” with “Marketplace”, the American Public Media shows.

yes I did.

I sill don't like Kay Ryssdal.


Fox & Falcon has 12 wings for $28, and fish tacos for $31. 

Now THAT’S scary.


Smedley said:

Fox & Falcon has 12 wings for $28, and fish tacos for $31. 

Now THAT’S scary.

Yeah, the pricing in whatever restaurant has occupied that space for the last 20 years has been ridiculous.


jimmurphy said:

Smedley said:

Fox & Falcon has 12 wings for $28, and fish tacos for $31. 

Now THAT’S scary.

Yeah, the pricing in whatever restaurant has occupied that space for the last 20 years has been ridiculous.

The legendary $18 burger is now $20, but the reason why their strip steak is $50 is because they fly Salt Bae over to add a little extra seasoning on it every time you order one.


drummerboy said:

yes I did.

I sill don't like Kay Ryssdal.

He is always Question 1 when playing NPR Host or Minor Star Wars Character?


Jersey Mike's subs seem to have significantly increased in price lately.


I think a pertinent question might be whether or not Fox and Falcon and Jersey Mike's are paying their employees any more recently. 



jimmurphy said:

Smedley said:

Fox & Falcon has 12 wings for $28, and fish tacos for $31. 

Now THAT’S scary.

Yeah, the pricing in whatever restaurant has occupied that space for the last 20 years has been ridiculous.

i will say that F&F is much improved versus South Mtn Tavern and Ricalton's, which were both rubbish imo. It's a big check at Fox but at least the food and service are generally good/ very good, so I don't feel like I just got hosed when I walk out of there like I used to at the previous iterations.

that said, some of the numbers on the menu jumped out at me when I stopped in last week for the first time in a while. Ouch.


I am just fascinated by the editorial process that chose this particular picture to headline this inflation piece.

An obese Trump voter with a turkey and 7 or 8 cases of soda, complaining about the high cost of Thanksgiving. (details in the article)


and, btw, the article never mentions that this family is getting at least $300 a month (depending on number of children) in additional child tax credits, which would more than make up for the rise in inflation.

They never seem to mention that.


drummerboy said:

here's a more reasonable look at inflation

https://www.newyorker.com/news/our-columnists/inflation-and-the-great-global-logjam?utm_source=twitter&utm_medium=social&utm_campaign=onsite-share&utm_brand=the-new-yorker&utm_social-type=earned

I agree this is reasonable. And I agree that the Republicans do a better job of scaremongering.

Thing is, a few weeks ago some of us argued that Biden needed to do a better job selling his policies.  We were met with “the policies are already popular”, and “I don’t even know what’s in the BBB, but who cares?”

Disinformation needs to be countered. If the media isn’t doing it, the Dems need to do it.


jimmurphy said:

I agree this is reasonable. And I agree that the Republicans do a better job of scaremongering.

Thing is, a few weeks ago some of us argued that Biden needed to do a better job selling his policies.  We were met with “the policies are already popular”, and “I don’t even know what’s in the BBB, but who cares?”

Disinformation needs to be countered. If the media isn’t doing it, the Dems need to do it.

if it's not being reported by the media, how will people know what the Democrats are saying?



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