November 2021 Inflation | General financial discussion | Discussion forum

So the inflation stopped accelerating, but it’s still pounding ‘em.
Sorry Loonie, about adding to the old thread, but I needed to clarify some misguided thoughts. Hopefully they leave the old thread alone.

I think one of things the 2 diff groups talk about on this site is those that says it is transitory and use the "math" to prove it is really based on a long term 2% average (including quite a few data pts in the last few years when somehow inflation is registering a unusually low number. I meant unusual as in I am seeing higher prices paid in those periods based on my personal consumption).
The other camp (including myself) is using 2021 as the starting point, now look at 5%+ inflation and how long it will be for the long time average with a starting point of 2021 to go back down to 2%. That to me is what really matters, as I am not a statistician or historian. What was the inflation in the past is irrelevant, whether that is good or bad or whatever has no bearing on today and the future, that is the only part that matters.
That is the same as if your boss gave u 10% raise 5 years ago, and then 0% the next 4 years, and claimed its still 2% every year and inline with inflation, will you be happy ??

Loonie said
When you declare everyone who disagrees with you to be in denial and that there are no new ideas under the sun, you show yourself to be intractable; and some would say arrogant.
In fact, progress in economics, and in all fields, is made by people who have new ideas and challenge the old ones.

Ir's not a very promising start, if this is going to be the tone in this new thread, but thank you for clarifying your position.
Perhaps it will be a short thread.  

It is interesting being accused of an intransigent position when the 'other side' of the argument is dug in on social matters that relate to inflation, rather than inflation data itself. Beauty seems to be in the eyes of the beholder depending on which side of the argument one is.

If certain members want to have a social platform along with whatever you call ideas and economic progression to debate those views on the effects of inflation, I would suggest that is a different discussion.

Edited to better reflect what I mean

AltaRed said

It is interesting being accused of an intransigent position when the 'other side' of the argument is dug in on social matters that relate to inflation, rather than inflation data itself. Beauty seems to be in the eyes of the beholder depending on which side of the argument one is.

If certain members want to have a social platform/discussion to debate their views on the effects of inflation, I would suggest that is a different discussion.  

Yet you are the one continually saying “they don’t matter” and “it’s their own fault” and “they did it to themselves”. That’s all irrelevant to a non-political discussion. We have the situation and everyone will feel the fallout of high inflation hammering the 53% living on the margins.

christinad said
I really don't understand why its such a divisive topic. All I know is when i went to Walmart last week i paid $1.3 for a tomato!   

It's divisive because I think the attempt is to make this a social discussion rather than simply the price of tomatoes at Walmart and how that changes over time.

AltaRed said

It's divisive because I think the attempt is to make this a social discussion rather than simply the price of tomatoes at Walmart and how that changes over time.  

And you are the one making it a social issue. You seem to think that your own life functions perfectly regardless of everyone else. That is completely false. If that 53% goes under, I’m quite sure it will have some kind of effect on your harmonious existence. Therefore it’s in your best interest to view the situation as precarious. But you continually view it from your narrow perspective.

christinad said
I really don't understand why its such a divisive topic. All I know is when i went to Walmart last week i paid $1.3 for a tomato!   

the "transitory" guy said u underpaid for ur tomatos the last few years, so you should still be happy paying $1.30 today
🙂

Just to add i find the attitude to poor people paternalistic overall in this forum. The poor people i know (though not a lot) are quite resourceful and are good budgeters. I think they would rise to the challenge of inflation.

christinad said
Just to add i find the attitude to poor people paternalistic overall in this forum. The poor people i know (though not a lot) are quite resourceful and are good budgeters. I think they would rise to the challenge of inflation.

They have risen to the challenge. That's likely why there is no significant change in the percentage of people who are less than $200 from insolvency between March 2017 and March 2021, in spite of a 7½% increase in the price of the CPI basket over that time.