#us cpi

[notayesmanseconomics]

Housing Costs should be in official inflation measures

To the casual reader the headline for this piece may be something of a surprise. After all they would reasonably expect that what is usually the largest component of people’s spending to also be a major component of inflation measures. But the reality is that some measures ignore owner-occupied housing entirely. An example of this is the HICP measure of the Euro area which the UK copied for its…

[tradermade]

US stocks to new highs! Explore: https://markets.tradermade.com/breaking/us-stocks-soar-to-new-records-as-inflation-fears-ease. S&P 500 breaks 5,300 after cooler-than-expected #CPI data eases inflation fears. But analysts urge caution - is this a long-term trend?

[monicascot]

Weekly Overview: Chinese data still not convincing as to a recovery

In today's video, we'll be diving into some crucial topics impacting the global economy. We'll start by discussing the recent US Consumer Price Index (CPI) data and its implications for the Federal Reserve's interest rate decisions. Then we'll shift our focus to China, examining the concerning signs of a slowdown in their post-COVID recovery. Additionally, we'll explore the economic situation in New Zealand, which has entered a recession.

[dostoyevsky-official]

this a view of someone who's ignored european developments since 2007, opting for a rosy, outdated view of european politics, i.e. the exact type of american committing the exact type of mistake i'm warning about.

to address this point by point: not only has inflation been a global issue, but the US has consistently enjoyed the lowest inflation of any developed economy. american CPI has remained below the british, polish, and eurozone average numbers. european economies have to deal with fallout from the russian invasion of ukraine that the us can ignore: notably, in energy prices, as the US became self-sufficient in energy (and never imported any from russia to begin with, something squeezing the german economy). america is also not hosting millions of ukrainian refugees.

when discussing european instutions—and "europe" in general—one has to be more specific. do you mean the overarching institutions of the EU, criticized for a democratic deficit that many have pinpointed as one source for euro-skepticism and the rise of the far right? the EU Council, widely ignored and headed by charles michel, an incompetent, blatant nepobaby appointment whom everyone grinds their teeth over? the EU parliament, recently filled with a fresh batch of far-right hooligans, which functions more or less as a rubber stamp for the commission? the EU commission itself, headed by VdL, the latest in a string of failed local politician commissioners (who remembers the alcoholic swindler juncker?) masquerading as technocrats? the ECB, which smothers the monetary (and through the maastricht criteria, the fiscal) policy of eurozone members, thereby fueling resentment, far-right movements, and economic disparity? and all of this held hostage by the veto of one orban or fico, —or the german supreme court, when it decides it's had enough with public investment. those institutions, which remain so opaque that even educated americans—and europeans—aren't entirely aware of their function?

or do we mean the institutions of individual countries, ranging from undemocratic autocracies like hungary to the fief of the jupiter king, who called elections in june, lost them, refused to nominate a prime minister from the winning coalition, didn't name any for over a month, and then appointed a rightwing politician from a party that scored dead last, sidestepping his own centrist party? the UK, where sir keir is handing out five years in jail time to climate protesters, raising tuition fees, relying on private investment companies, and through rachel reeves' plan to fix the alleged budget hole left by hunt before further investment, again enacting austerity? this is all front-page headline news from the last half year.

european countries indeed have cheaper healthcare costs, better pensions, and other public goods that the united states does not. when considering "quality of life," remember, however, that most european countries have unemployment rates considered astronomic in america, especially for under-35s:

to focus again and again on european social democracy is to ignore that it has been steadily eroded since the end of the cold war and especially since the great recession by neoliberal political forces that crush the left and open the door for the far right. in the most blatant example, beside's macron's legislative politricks, the IMF-ECB-EC troika cut off euro cash liquidity flow to greece when syriza was trying to undo austerity under varoufakis. the greek collapse consigned a generation to economic failure, killed seniors, and curtailed possibilities for the youth. this erosion happened even in the nordic model, long imagined by americans as nothing short of a utopia:

In part due to the scrapping of wealth and inheritance taxes and a lower corporate tax than both the U.S. and European averages, Sweden has one of the most unequal distributions of wealth in the world today: on a level with Bahrain and Oman, and worse than the United States. Perhaps most dispiriting for Sanders, Sweden also now hosts the highest proportion of billionaires per capita in the world. Many of the country’s trademark social services are now provided by private firms. Its private schools even benefit from the same level of state subsidy as public schools—a voucher system far more radical than anything in the United States and that Democratic politicians would be crucified for advocating. Both here and there, right-leaning commentators in 2020 decried Sanders’s portrait as little more than what Johan Norberg, Swedish author of The Capitalist Manifesto, has called a 1970s “pipedream.” On this, Swedish observers on the left gloomily agree: despite official rhetoric, the “Nordic welfare model” is now more nostalgic myth than reality. (x)

to problematize further, there's an unadressed first world perspective: who's getting the good quality of life, why are the main economies of the EU so wealthy, and how does the EU continue to enrich itself? there are certainly many living outdoors today, drowning in the mediterranean, or dying of exposure in białowieża. fortress europe is a crime against humanity—and it doesn't beat back the far right. it weakens civic and human rights, undermines legal oversight, and criminalizes humanitarian engagement, allowing an authoritarian creep.

you shouldn't understand the political and the historical as a snapshot in time, but as a moving train. this is the state of europe today. all of the above is necessarily a simplification and an abbreviation, but there's a trajectory you can begin to trace out: given all of the above, where do you think europe is headed?

[tanadrin]

I think this is pretty spot on; whenever I see discussion of the economy and economic perceptions, there's always people in the replies going "yeah, but eggs are $8 a dozen" or "why is every middle class family I know foodbanking." And then OP, or someone else, will post data showing egg prices are stable, or that wages have actually been rising faster than inflation, and the person who posted that may even admit that, ok, things are fine for them personally, but not for other people.

And it's always been true that politics is more about attitudes and aesthetics than it is about policy or facts on the ground; but it's rare that attitudes are so divorced from people's actual material circumstances. And while I think there are lots of things contributing to this disconnect, as matter of campaigning, I don't really know how you overcome it.

[little-red-book-daily]

Riding roughshod everywhere, U.S. imperialism has made itself the enemy of the people of the world and has increasingly isolated itself. The atom bombs and hydrogen bombs in the hands of the U.S. imperialists will never cow those who refuse to be enslaved. The raging tide of the people of the world against the U.S. aggressors is irresistible. Their struggle against U.S. imperialism and its lackeys will assuredly win still greater victories.

"Statement Supporting the Panamanian People's Just Patriotic Struggle Against U.S. Imperialism" (January 12, 1964), People of the World, Unite and Defeat the U.S. Aggressors and All Their Lackeys, 2nd ed., pp. 9-10.

[dreadful-luck]

drew this in class today!

Thought I’d add this text exchange too.

[club-prideguin]

got my ass stuck in the dirt last night.

[wigglepiggle]

had the most chaotic game of arms I've ever seen happen with my irl friends today

i was teaching them arms and we were playing hedlok scramble and instead of getting hedlok like i kept telling them to do we all just started beating the fuck out of eachother not even looking at hedlok

and we were all screaming

[seninrehman]

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[jerrynpenguins]

I do think criticisms against club penguin island like it being membership locked it still valid but at the same reading all this content from the wikipedia makes realized maybe it should have a chance to properly grow..maybe not after Club Penguin shutdown but like alongside it kinda of like the DS and wii games games.. maybe with it being more a spinoff than a reboot?

a better handling of membership like maybe let some of the mini games, places and clothes be for free so the can be more things to do for nonmembers . Like maybe members easily get early access to that content before it gets released to non members. But I don't know I am not a video game expert

[tradermade]

Wall Street in Holding Pattern Awaits Key Inflation Data. Explore: https://markets.tradermade.com/stocks-and-indices/us-stocks-stall-before-key-inflation-data. US stocks near flat ahead of crucial #CPI report & earnings season kickoff. Will inflation cool down & lead to a rate cut? 

[kazifatagar]

Bursa: Low-daily volume shows lacklustre pace

The FBM KLCI maintained its uptrend albeit at a lacklustre pace as illustrated by the low daily volume traded that is stuck at the 3bn shares level. Low-daily volume “For today, we believe buying activities may gain some traction after the modest US CPI data overnight thus expect the index to hover within the 1,610-1,620 range. Meanwhile, we anticipate the MYR to strengthen against the…

[little-red-book-daily]

If the U.S. monopoly capitalist groups persist in pushing their policies of aggression and war, the day is bound to come when the people of the whole world will hang them. The same fate awaits the accomplices of the United States.

Speech at the Supreme State Conference (September 8, 1958).

[b0ringasfuck]

international rule-based order

esportatori di democrazia

[goopaspect]

feel like a lot of people are missing the forest for the trees wrt minimum wage

the problem isnt the phyiscal number of dollars you're being paid, its the fact that someone else is making 300x more dollars than that number + the fact that inflation is shrinking the purchasing power of that number.

its not like people had to work 5 hours to afford a big mac¹ when the minimum wage was 3.80$ in 1990