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(CNBC)   Latest inflation numbers. Good news if you drive a lot. Bad news if you eat   (cnbc.com) divider line
    More: News, Monetary policy, Inflation, Federal Reserve System, Interest rate, good news, monthly basis, Percentage point, inflation pressures  
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814 clicks; posted to Business » and Main » on 10 Aug 2022 at 11:54 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



25 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-08-10 12:18:17 PM  
Good thing that I don't eat.
 
2022-08-10 12:33:11 PM  
I drive like I eat.

Drunk.
 
2022-08-10 12:34:52 PM  
the whole omg gas prices are going to destroy us didn't happen to me. i drive a big gas guzzling truck, but i managed to avoid driving enough that i only put in one tank of fuel in the last two months.

my fuel expenditures for the year is still on par with the avg.
 
2022-08-10 12:46:00 PM  
The person writing the NBC News version of this article had a stroke while doing it:

Fark user imageView Full Size


I submitted it with those half-gibberish lines as my headline, so of course they fixed it 10 minutes later.
 
2022-08-10 12:55:08 PM  
Clogged supply chains, outsized demand for goods over services, and trillions of dollars in pandemic-related fiscal and monetary stimulus have combined to create an environment of high prices and slow economic growth that has bedeviled policymakers.

When was the last stimulus check, again?
 
2022-08-10 12:58:27 PM  
Just recently got back from a 2,000+ mile (round trip) family vacation.  Good news is that my gas spending was $100 lower than estimated.  Bad news is that our combined grocery bill was $500 more than estimated.

/NCSB
//Mrs. SLEZE did not believe me when I said driving 20+ hours in each direction would suck
///Mrs. SLEZE said we will never do this again.
 
2022-08-10 12:59:01 PM  

FormlessOne: Clogged supply chains, outsized demand for goods over services, and trillions of dollars in pandemic-related fiscal and monetary stimulus have combined to create an environment of high prices and slow economic growth that has bedeviled policymakers.

When was the last stimulus check, again?


You mean you're still not spending that $1200 you got a year and half ago? I'm still buying a new refrigerator  every month with mine. I can't believe how expensive they've gotten.
 
2022-08-10 1:19:59 PM  
Fark user imageView Full Size
 
2022-08-10 1:29:46 PM  

Autoerotic Defenestration: [Fark user image 500x808]


AKA the kind of person that thinks the labor shortage is because "no one wants to work."

/That phrase is the current GOP in a nutshell.
//Not true, makes no sense, punches down, and is oversimplified enough to fit\ on a meme.
 
2022-08-10 1:51:17 PM  

Kid Lester: I drive like I eat.

Drunk.


Marshawn Lynch- like typing detected.
 
2022-08-10 1:52:46 PM  
I just threw away $100+ dollars worth of food because my fridge died yesterday  Going to go on the college dorm diet for a while. So I'm already fighting inflation.
 
2022-08-10 1:58:24 PM  
S&P 500 is up 2% on the news so the stay at home shareholders are happy.
 
2022-08-10 2:02:17 PM  
I know a lot of people are talking about the stimulus checks that individuals received... But wasn't that a small percentage of all the stimulus money given out? I thought tons and tons of business received money too.
 
2022-08-10 2:25:39 PM  

Fark_Guy_Rob: I know a lot of people are talking about the stimulus checks that individuals received... But wasn't that a small percentage of all the stimulus money given out? I thought tons and tons of business received money too.


According to the NYT, $1.8 Trillion went to individuals, $1.7 trillion went to businesses.  The total was $5 trillion, so it was certainly enough to be inflationary.


https://www.nytimes.com/interactive/2022/03/11/us/how-covid-stimulus-money-was-spent.html
 
2022-08-10 3:40:08 PM  

Eightballjacket: Fark_Guy_Rob: I know a lot of people are talking about the stimulus checks that individuals received... But wasn't that a small percentage of all the stimulus money given out? I thought tons and tons of business received money too.

According to the NYT, $1.8 Trillion went to individuals, $1.7 trillion went to businesses.  The total was $5 trillion, so it was certainly enough to be inflationary.


https://www.nytimes.com/interactive/2022/03/11/us/how-covid-stimulus-money-was-spent.html


That would account for any inflation in 2020-2021. Money spent 18 months ago doesn't have much effect on prices today.
 
2022-08-10 4:41:10 PM  

max_pooper: Eightballjacket: Fark_Guy_Rob: I know a lot of people are talking about the stimulus checks that individuals received... But wasn't that a small percentage of all the stimulus money given out? I thought tons and tons of business received money too.

According to the NYT, $1.8 Trillion went to individuals, $1.7 trillion went to businesses.  The total was $5 trillion, so it was certainly enough to be inflationary.


https://www.nytimes.com/interactive/2022/03/11/us/how-covid-stimulus-money-was-spent.html

That would account for any inflation in 2020-2021. Money spent 18 months ago doesn't have much effect on prices today.


So your saying the money spent 18 months ago disappeared from the economy?  Because I always thought most of it was re-spent over and over again.
 
2022-08-10 5:30:15 PM  
RAH-men.  ....again....and again.... *sigh*
 
2022-08-10 7:13:46 PM  

Eightballjacket: Fark_Guy_Rob: I know a lot of people are talking about the stimulus checks that individuals received... But wasn't that a small percentage of all the stimulus money given out? I thought tons and tons of business received money too.

According to the NYT, $1.8 Trillion went to individuals, $1.7 trillion went to businesses.  The total was $5 trillion, so it was certainly enough to be inflationary.


https://www.nytimes.com/interactive/2022/03/11/us/how-covid-stimulus-money-was-spent.html


Thank you for providing that info/correcting me. Much appreciated.
 
2022-08-10 7:41:27 PM  
Question for our big brain economist-types:

Inflation is Year-over-Year, right?  This months inflation numbers are last July vs. this July.

If prices shot up 10% and then immediately stabilized in Aug of 2021, we'd see 10% YOY inflation over the next year, correct?  

So, right now, if prices flattened out, we'd still have months of "OMG Inflation is so high," right?
 
2022-08-10 8:17:13 PM  

Fark_Guy_Rob: I know a lot of people are talking about the stimulus checks that individuals received... But wasn't that a small percentage of all the stimulus money given out? I thought tons and tons of business received money too.


Some folks got a LOT of money!

"That's on top of the $90 billion to $400 billion believed to have been stolen from the $900 billion Covid unemployment relief program"

https://www.nbcnews.com/politics/justice-department/biggest-fraud-generation-looting-covid-relief-program-known-ppp-n1279664
 
2022-08-10 8:31:54 PM  
Meanwhile, the IRS gets $70 billion to chase down the money that we don't have.
 
2022-08-10 10:22:33 PM  

PR Deltoid: Meanwhile, the IRS gets $70 billion to chase down the money that we don't have.


"The government shouldn't do anything that inconveniences rich assholes." -Some dumb poor person
 
2022-08-11 12:45:27 AM  
How are I-bonds doing this month? Can't beat 'em, invest in 'em?
 
2022-08-11 1:08:40 AM  

FormlessOne: Clogged supply chains, outsized demand for goods over services, and trillions of dollars in pandemic-related fiscal and monetary stimulus have combined to create an environment of high prices and slow economic growth that has bedeviled policymakers.

When was the last stimulus check, again?


Slow economic growth? Do these nitwits not understand the fed has Intentionally slowed the economy?

They are acting like it's a surprise.
 
2022-08-11 8:37:31 PM  

shinji3i: PR Deltoid: Meanwhile, the IRS gets $70 billion to chase down the money that we don't have.

"The government shouldn't do anything that inconveniences rich assholes." -Some dumb poor person


Be careful what you expect, "poor" person.

There's a lot more of you than "rich" people, and that meat-grinder has gotta be fed.
 
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