• Inflation (was: Trump has

    From Mike Powell@1:2320/105 to DALE SHIPP on Tuesday, February 14, 2023 17:19:00
    Why is it that you quote a positive move on inflation coming down, but
    focus on how bad it used to be?

    I think it is the difference between the percentage growth, or decrease, in inflation vs. the price of things.

    You can say that inflation is slowing, which means the price is still going
    up but not as fast, or decreasing, which means it is no longer going up BUT also means that prices are not necessarily back down to where they were
    when the inflation period started.

    That is what gets a lot of people... they don't care that it has gone down
    some when they are still paying a whole lot more for things vs. before the inflation started.

    There was a report on the 4pm local news just this afternoon about
    inflation. I jotted a few things down.

    -- For January, 2023, inflation has "slowed" but is still going up.

    -- For the whole year of 2022, food prices went up more than anything.

    -- For January, 2023, the price of used cars, medical care, and air travel actually went down, so inflation on these three things was negative for
    January but, for other things, it is still going up (just more slowly).

    -- The economist they interviewed stated that, while it has slowed, none of this slowing has anything to do with government attempts to slow it down.
    He said that the results of those attempts have yet to show anything, good
    or bad.


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  • From Dale Shipp@1:261/1466 to Mike Powell on Wednesday, February 15, 2023 00:45:02
    On 02-14-23 17:19, Mike Powell <=-
    spoke to Dale Shipp about Inflation (was: Trump has <=-

    Why is it that you quote a positive move on inflation coming down, but
    focus on how bad it used to be?

    I think it is the difference between the percentage growth, or
    decrease, in inflation vs. the price of things.

    You can say that inflation is slowing, which means the price is still going up but not as fast, or decreasing, which means it is no longer
    going up BUT also means that prices are not necessarily back down to
    where they were when the inflation period started.

    By George, I think you've got it. As I said to Gregory, I was making no independent statement about inflation other than to point out the
    meaning of what he quoted.

    Dale Shipp
    fido_261_1466 (at) verizon (dot) net
    (1:261/1466)


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  • From Ron L.@1:120/616 to Mike Powell on Wednesday, February 15, 2023 07:43:20
    Mike Powell wrote to DALE SHIPP <=-

    -- The economist they interviewed stated that, while it has slowed,
    none of this slowing has anything to do with government attempts to
    slow it down. He said that the results of those attempts have yet to
    show anything, good or bad.

    The Ignorant Elitists seem to think that people are complete morons. So
    if food goes up in price, for example, they seem to think that people will
    buy just as much food and other products.

    Economics 101 shows that when prices go up, people buy less.

    Getting more complicated, in a market where necessities go up for a while, people put off buying large, long term purchases (like cars and houses). But like I said, the Ignorant Elitists can't understand this simple idea -
    or they just like to believe that people are no different than sheep.


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  • From Lee Lofaso@2:203/2 to Ron L. on Wednesday, February 15, 2023 22:05:49
    Hello Ron,

    -- The economist they interviewed stated that, while it has slowed,
    none of this slowing has anything to do with government attempts to
    slow it down. He said that the results of those attempts have yet to
    show anything, good or bad.

    The Ignorant Elitists seem to think that people are complete morons. So if food goes up in price, for example, they seem to think that people will buy just as much food and other products.

    People buy as much food as they can, as everybody has to eat.

    Economics 101 shows that when prices go up, people buy less.

    Life 101 shows that when people do not have enough to eat they die.

    Getting more complicated, in a market where necessities go up for a while, people put off buying large, long term purchases (like cars and houses). But
    like I said, the Ignorant Elitists can't understand this simple idea -
    or they just like to believe that people are no different than sheep.

    The economy is for the person, not the other way around.
    Nothing complicated or too difficult to understand about that.

    For Life,
    Lee

    --
    It's not for women.

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  • From Mike Powell@1:2320/105 to DALE SHIPP on Wednesday, February 15, 2023 16:42:00
    I think it is the difference between the percentage growth, or
    decrease, in inflation vs. the price of things.

    You can say that inflation is slowing, which means the price is still going up but not as fast, or decreasing, which means it is no longer going up BUT also means that prices are not necessarily back down to where they were when the inflation period started.

    By George, I think you've got it. As I said to Gregory, I was making no independent statement about inflation other than to point out the
    meaning of what he quoted.

    I have a BSBA so I should hope I understand it, even when it is difficult
    to convince my wallet of such. :)


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  • From Dale Shipp@1:261/1466 to Mike Powell on Thursday, February 16, 2023 01:10:00
    On 02-15-23 16:42, Mike Powell <=-
    spoke to Dale Shipp about Re: Inflation (was: Trum <=-


    By George, I think you've got it. As I said to Gregory, I was making no independent statement about inflation other than to point out the
    meaning of what he quoted.

    I have a BSBA so I should hope I understand it, even when it is
    difficult to convince my wallet of such. :)

    BS = Bachelor of Science, BA = Bachelor of Arts -- but I've not seen
    them together like that. Double major?

    Dale Shipp
    fido_261_1466 (at) verizon (dot) net
    (1:261/1466)



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  • From Dale Shipp@1:261/1466 to Lee Lofaso on Thursday, February 16, 2023 01:16:02
    On 02-15-23 22:05, Lee Lofaso <=-
    spoke to Ron L. about Inflation (was: Trump has <=-

    think that people will
    buy just as much food and other products.

    People buy as much food as they can, as everybody has to eat.

    When prices go up, people shift their buying. For example, more pasta
    and less steak.

    Economics 101 shows that when prices go up, people buy less.

    Mostly true -- if they have a choice. When the price of utilities goes
    up, there is not much they can do. When they have to commute 20 miles a
    day, they still have to buy the same amount of gas -- and thus have less
    money for other things.

    Getting more complicated, in a market where
    necessities go up for a while,
    people put off buying large, long term purchases (like cars and houses).

    True.

    Dale Shipp
    fido_261_1466 (at) verizon (dot) net
    (1:261/1466)


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  • From Lee Lofaso@2:203/2 to Dale Shipp on Thursday, February 16, 2023 22:11:32
    Hello Dale,

    think that people will
    buy just as much food and other products.

    People buy as much food as they can, as everybody has to eat.

    When prices go up, people shift their buying. For example, more pasta
    and less steak.

    Most people do not have unlimited income, and can only buy as much
    as they are able to with what they have. Food is something that is a
    must have item, as everybody has to eat.

    Economics 101 shows that when prices go up, people buy less.

    Mostly true -- if they have a choice.

    Food is not a choice, but a must have item.
    So is medicine, and other needs.
    Sometimes folks have to sacrifice one need in order to obtain
    the other need, even though both are needed for survival.

    When the price of utilities goes up, there is not much they can do.

    It is a matter of priorities. Food trumps everything. But what happens
    when one needs a medicine for survival, and must sacrifice other needs
    in order to obtain that particular need? What does one resort to when
    out of income to obtain what one needs in order to survive?

    It can get very cold in the wintertime in some parts of this country.
    Not having enough income to pay for utilities means one has to find a
    way to come up with a way to buy it. Drugs and prostitution come to
    mind. So who are the real criminals?

    When they have to commute 20 miles a day, they still have to buy the same amount of gas -- and thus have less money for other things.

    Only for those on fixed income - such as folks on social security,
    welfare, homeless, etc. For those with unlimited income the cost of
    gas is not a factor.

    Getting more complicated, in a market where necessities go up RL>for a
    while, people put off buying large, long term purchases (like RL>cars and houses).

    True.

    Wages never keep up with inflation. And those on fixed incomes are
    even worse off. Even those who are working are not able to save any
    real income, as most are forced to spend whatever they have on basic
    needs for themeselves and their families.

    Only those who save money due to having too much money to count are
    griping about inflation, as all they want is for their investments to
    increase - without spending any of their beloved "savings".

    If you want to make money you have to spend money. Preferably other
    peoples money. That is the way it works, and always has worked.

    Nobody wants to spend their own money, as that is a losers game.

    Take it from The Donald, the most famous grifter in the USA.

    For Life,
    Lee

    --
    Everybody Loves Our Buns

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  • From Mike Powell@1:2320/105 to DALE SHIPP on Thursday, February 16, 2023 16:13:00
    By George, I think you've got it. As I said to Gregory, I was making no independent statement about inflation other than to point out the
    meaning of what he quoted.

    I have a BSBA so I should hope I understand it, even when it is difficult to convince my wallet of such. :)

    BS = Bachelor of Science, BA = Bachelor of Arts -- but I've not seen
    them together like that. Double major?

    Bachelor of Science in Business Administration. Maybe I am using it
    wrong. :)


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  • From Dale Shipp@1:261/1466 to Mike Powell on Friday, February 17, 2023 00:13:00
    On 02-16-23 16:13, Mike Powell <=-
    spoke to Dale Shipp about Re: Inflation (was: Trum <=-


    I have a BSBA so I should hope I understand it, even when it is difficult to convince my wallet of such. :)

    BS = Bachelor of Science, BA = Bachelor of Arts -- but I've not seen
    them together like that. Double major?

    Bachelor of Science in Business Administration. Maybe I am using it wrong. :)

    Probably not -- I just was not used to seeing that combination. You
    would know better than myself. I wrongly assumed that the BA was
    Batchlor of Arts. The common abreviation for one level higher is MBA
    and that is well recognized.

    Dale Shipp
    fido_261_1466 (at) verizon (dot) net
    (1:261/1466)


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  • From Ron L.@1:120/616 to Mike Powell on Friday, February 17, 2023 07:36:35
    Mike Powell wrote to DALE SHIPP <=-

    I have a BSBA so I should hope I understand it, even when it is difficult to convince my wallet of such. :)

    BS = Bachelor of Science, BA = Bachelor of Arts -- but I've not seen
    them together like that. Double major?

    Bachelor of Science in Business Administration. Maybe I am using it wrong. :)

    I'm always impressed by the ignorance of these supposedly knowledgeable people.
    My degree is BSCS, so I've always seen the "4 letter degrees", and I've known many people who are BSBA.

    Today, those terms actually mean what we joked about 20 years ago.
    BS = Bull S#!t
    MS = More S#!t
    PH/D = Piled Higher and Deeper


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