The Economy

According to the BLS (the same administration the FTC works for), prices are not retreating. The rate of growth has slowed down. But that isn't retreating. Pick your index. ... the CPI showed a broad basket of consumer prices last month rising at 3.4 percent year over year (forget the fact that the number is BS. ... prices are rising at a higher rate than that).

And the idea that there is such a cause and effect relationship, that anyone can answer your question is precisely why we have a price fixing authority that exists to monetize debt under the guise that it can precisely calibrate the economy like Merlin the Magician.

 

One other thing. ... Of course the current administration, which has run up a trillion dollars of new debt every 100 days that is what precipitated the debt monetization that caused consumer prices to spike, wants to blame the thing everyone is blaming them for on anything EXCEPT themselves. To the point that they went full populist with demonizing "greedy corporations."

What is interesting (and which I had forgotten, even though I saw this and laughed), is that the San Francisco Fed put out their own bullshit study that told Biden to fuck off with "corporations are unilaterally causing inflation with mark ups" stuff.

Corporate greed not to blame for price pressures, Fed study shows

The Kabuki Theater part of it for me is that the Fed is actually more directly responsible for what happened with prices, in that if it is"indepedent" the way they are quick to tell you, it didn't have to monetize all of that debt and they could have cut the treasury off and let them create a dollar funding crisis if they wanted to keep running up debt the way they have.

But in the Fed's report. ... they don't point the finger at themselves, of course. At least they have the dignity to not pin it on an unpopular boogey man.

 

Same at my Kroger here. Third time I've seen them do it in the past couple of months. Also have seen a "digital deal" of 12-pack of Coke products for I think $4.99, limit of five.

 

I was just thinking about that FTC thing we were discussing yesterday. ... Milton Friedman was wrong about a lot of things. ... when he got out of the realm of economics and into the realm of trying to centrally plan the economy via moneterism.

But he was right about the basic cause of "inflation."

The more things change. ... the more they stay the same, though.

 

From the link:

“We’ve made it a priority to refund customers who were overcharged, and we did not take action on the undercharges with our customers,” Walmart spokesperson, Mischa Dunton, said.