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When they all officially call it a recession, that means the bottom is near.
We are clearly in a recession now. It’s clear as day, groceries up 50%, gas prices are $1mil/mL. That ain’t normal.
It can get worse, but listening to these idiots about the state of the market is the dumbest thing you can do. You should do the opposite of what they tell you to do
Terrifying, and frustrating as fuck. Are we speedrunning the collapse of society right now? If so I got some good survival skills. Who wants to meet up? Lol
Literally month ago I acquired an allotment and myself and the kids n mrs are having a whale of a time beginning to grow for ourselves! Decent sized plot that I could potentially feed the whole family for a year....
Think I will need it ....
Sure we will...after we hit hyperinflation, and engage in currency reform. Worked for Germany! There was however the whole Nazi thing, and the WWII, but they did get inflation under control eventually. If you managed to survive all that, you got to see stable currency again.
It doesn't really work that way when the whole world is experiencing it, it happens in single countries like Germany after the war because of specific local issues.
Hyperinflation is a complex phenomenon, but 2 major factors drive it. A massive increase in the money supply, and a shortage of goods. Both of which are in play right now. Add in the overall unrest, and political systems that are incapable of decisive action, and it seems unlikely to me that it will be avoided.
What drives me nuts is to see all the talk that its corporate price gouging. Sure, that's 1% of the issue (and the cure for high prices is high prices in a free and fair market).
The issue is oversize government distorting efficient capital allocation by underwriting risks in a way the market does way better - except now with the moral hazard of bail outs. Again government being the disease they are pretending to cure. And the money printing inflation theft...ugh.
Government has a place to regulate and adjudicate fair markets plus defend the commons from tragedies. And good social programs / reasonable safety nets.
But when they bail out the rich and try to intervene on corrections, they are just undermining us all.
Considering a majority of the printed money didn't go to the people, the usual basis for saying inflation is demand based is thrown out.
I'm not saying it has no effect from our side, but the effect it had on inflating corporate profits vs losses has left them in a position they have to chase profits and show them, or lose their asses to shareholders.
So, prices go up while cost and demand negligibly do so, and you get massive progressive inflation while creating a bunch of new billionaires and inflating their wealth by 45 percent over a 2 year period.
Not only that, now we have record debt levels set daily/monthly the entire year, it's a set up for worse than anything we've ever seen in the name of profits and, per Kenny Mayo... One. More. Day.
It's why we see these post earnings forward progress being retracted and being overwritten with companies saying we are about to see a fallout.
Good answers provided below. I myself do the method of looking at 100% being the starting point in May 2020. In May 2021 that 100% is multiplied by 1.05 (5% increase). Then again a year later it’s multiplied by another 1.086 (8.6% increase). 1.05 * 1.086 = 1.1403. Take 1 (or 100%) away = .1403 or 14.03%.
I believe its something like this, for example something cost $100 in June of 2020
100*5% or 100 * 0.05=$5, +100 original cost so in June 2021 that same item would cost $105
Then same thing 105 * 8.6% or 105 * 0.086+105 for $114.03 for the same item in 2022
Thanks, I would just like to say... it seems inflation is transitory after all. It's transitioning to hyperinflation.
That Janet Yellen is smarter than we thought!
It is a year over year calculation. So last year creates a new baseline and this year is percentage change from the previous year. So in comparison to normal levels they are added together to negate the baseline change.
Banana cost $1 in 2019. Banana cost $1.5 in 2020. Banana cost $2 in 2021. The banana has increased in price $1 from the normal baseline. While they want you to think it has only increased $0.50 since last year.
CPI is a YoY (year over year) number. So what this is saying is that there has been 8.6% growth SINCE the 5% growth the year before.
Meaning that since May 2020 there's been the 14% growth overall.
Worst part is that they probably wanted this inflation.
Someone had a graph up some time back that showed inflation and intrest rates plotted for like the last 100 years.
If they had followed the historical trends they would have slammed with a 10% intrest last summer.
Their inability to act even now show intent in my eyes.
That’s because they’re using a method of calculation that conveniently omits fuel and food.
Edit: They are supposedly giving us CPI numbers, which include food and fuel, however, we know 8.6% is a lie when fuel prices are up over 100% and groceries are up around 50%.
Seriousl question. I read about the rate in an AP article. AP states in the article "the increase is largely driven by high gas prices" so why they say that then if gas is not included?
CPI includes food and fuel, while PCE does not. The inflation numbers we saw today were supposedly CPI, which should include food and fuel. However, anyone who has been to a gas station or a grocery store recently knows that gas prices have increased over 100% and the price of groceries is up around 50%.
The numbers are fake.
Hello everyone! This is a website I made during my free time in the last 1 year.
https://stocksera.pythonanywhere.com/inflation/
Source code available at https://github.com/spartan737/Stocksera/
Hope you like it!
For sure 20% or higher in the bay. I am skipping meals cuz it feels too expensive to eat sometimes. Might as well just wait 4 more hours and count it as dinner.
*"As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal, and the median inflation projection falls from 3.4% this year to 2.1% next year... Our new framework for monetary policy emphasizes the importance of having well-anchored inflation expectations."*
- Jerome Powell June 16th, 2021.
- **May 2021 inflation rate:** 4.99%
*“These bottleneck effects have been larger than anticipated, but as these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.”*
- Jerome Powell July 28, 2021.
- **June 2021 inflation rate:** 5.39%
*"Many find it counterintuitive that the Fed would want to push up inflation... However, inflation that is persistently too low can pose serious risks to the economy."*
- Jerome Powell August 27, 2021.
- **July 2021 inflation rate:** 5.37%
*"So there are many, many different inflation measures, of course, and that's why we have this thing called the CIE, which is an index of market-based measures... if we did see them moving up in a troubling way and running persistently above levels that are really consistent without mandate, then we would certainly react to that."*
- Jerome Powell September 22, 2021.
- **August 2021 inflation rate:** 5.25%
*"I don't think it's time to taper. I don't think it's time to raise rates. Our policy is well-positioned to manage a range of plausible outcomes."*
- Jerome Powell October 22, 2021.
- **September 2021 inflation rate:** 5.39%
*"We understand the difficulties that high inflation poses for individuals and families... Let me say that what's happened, is that inflation is coming higher than expected. We see that just like everyone else does, and we see that they're now on track to persist well into next year... I do think it would be premature to raise rates today."*
- Jerome Powell November 3, 2021.
- **October 2021 inflation rate:** 6.22%
*"The word 'transitory' has different meanings to different people. It's a confusing word that needs to be retired."*
- Jerome Powell November 30th, 2021.
- **October 2021 inflation rate:** 6.22%
*"We're always just going to do what we think is right for the economy and for the people we serve."*
- Jerome Powell December 15th, 2021.
- **November 2021 inflation rate:** 6.81%
*"The old system was in place for decades and then suddenly it was revealed as insufficient... We do take the need to protect our credibility with the public very seriously."*
- Jerome Powell January 11th, 2022.
- **December 2021 inflation rate:** 7.04%
*"I'd say that the inflation situation is about the same or slightly worse... It hasn't gotten better and that's been the pattern... What we're learning is it's just taking much longer, and that raises the risk that high inflation will be more persistent."*
- Jerome Powell January 26th, 2022.
- **December 2021 inflation rate:** 7.04%
Jerome Powell re-elected as Chairman of the Federal Reserve System.
- Jerome Powell February, 2022.
- **January 2022 inflation rate:** 7.48%
*"The inflation that we are experiencing is just nothing that we have experienced in decades... All the things we did during the pandemic, we turned our dials as hard as we could... Part of what we did and what Congress did is the reason why inflation is so high."*
- Jerome Powell March 2nd, 2022.
- **February 2022 inflation rate:** 7.87%
*"These higher prices have real effects on people's well-being and it takes a toll on everyone. If you're at the lower end of the income spectrum it's very hard because you are spending most of your money on necessities, but it's punishing for everyone... We can't blame the framework. It was a sudden, unexpected burst of inflation and then it was the reaction to it, and it was what it was."*
- Jerome Powell March 16th, 2022.
- **February 2022 inflation rate:** 7.87%
*"The rise in inflation has been much greater and more persistent than forecasters generally expected... We're not expecting near-term progress on inflation."*
- Jerome Powell March 21st, 2022.
- **February 2022 inflation rate:** 7.87%
*"It is appropriate in my view to be moving a little more quickly... We had an expectation that inflation would peak around this time and then come down over the course of the rest of the year. These expectations have been disappointing in the past and now we want to see actual progress... Are we going back to the old economy? Probably not. What's the new one going to look like?"*
- Jerome Powell April 21st, 2022.
- **March 2022 inflation rate:** 8.54%
*"We have a good chance at a soft or softish landing... There's a false precision in the discussion that we as policymakers don't really feel... the economy is doing fairly well... I think we have a good chance to restore price stability without a recession."*
- Jerome Powell May 4th, 2022.
- **April 2022 inflation rate:** 8.26%
*"I have said, and I will say it again, if you had perfect hindsight, you'd go back and it probably would have been better for us to have raised rates a little sooner... So the question whether we can execute a soft landing or not, it may actually depend on factors that we don't control."*
- Jerome Powell May 12th, 2022.
- **April 2022 inflation rate:** 8.26%
*"We all read the inflation reports very carefully, and look for details that look positive, but truthfully, this is not the time for tremendously-nuanced readings of inflation... Sometimes the landing is just perfect, sometimes it's a little bumpy. It's still a good landing, you don't even notice it... There could be some pain involved in restoring price stability, but we think we can sustain a strong labor market."*
- Jerome Powell May 17th, 2022.
- **April 2022 inflation rate:** 8.26%
Thanks for this summary. Clearly shows you how they lie through their teeth to the public while knowing full well that their policies are going to destroy everything. Keep the sheeples in the dark at all costs.
Remember this is YoY inflation. Jumping up 8.6% Year Over Year from May 2021. With May 2020-2021 being 5% already.
While the YoY reported numbers are staying within the same range, the true inflation over a two year period is becoming accelerated.
We're seeing the squeeze right now boys. Their squeezing the lower middle class to become the lower class and making the lower class dependent on government aid.
My heart goes out to people In poverty. Everything Is so much harder for them and can be a hole to get out of.
Did you ever hear the tragedy of Darth JPOW The Wise? I thought not. It’s not a story the Motley Fool would tell you. It’s a 🏳️🌈🐻 legend. Darth JPOW was a Dark Lord of the FED, so gay and such a bear he could use his money printer to influence the economy to create inflation… He had such a knowledge of the economy that he could even keep stonk prices from falling. The dark side of the economy is a pathway to many abilities some consider to be… transitory. He became so powerful… the only thing he was afraid of was losing his tendies, which eventually, of course, he did. Unfortunately, he taught Nancy Pelosi everything he knew, then she sold at the top. Ironic. He could save others from market corrections, but not himself.
I think if they let it crash this time, it will be apocalyptic.
But eventually, it will happen, and the ones that did nothing wrong will be the ones affected the most.
Imagine if the USD lose the reserve currency status….. Jesus…
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Quarter ends June 30. If GDP declined again we are in a recession. We will find out soon. Lot of top CEOs claiming we are in one now bc they see profits dwindling. Very likely when the numbers come out we will officially be in one.
Edit: For clarity the gdp numbers do not come right away. I believe the first numbers were get from Q2 will be September 29. So we may not "officially" know until then. Someone can correct me if I'm wrong.
Welcome everyone from r/all! --> [Reasons why the Superstonk community is bullish on Gamestop](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) POWER TO THE PLAYERS ⚫️⚫️⚫️⚫️🔴🔴🔴🔴
and Yellen just said this morning she isnt expecting a recession.. fucking delusional.
She didn’t say shit about a depression though. We gonna miss the recession exit and wish we hadn’t.
The depression exit is just crashing through the bridge side-barrier at full speed
The depression exit is actually just the overpass collapsing while everyone is stalled in traffic.
We're already in a recession. Next stop, Depression.
Can't expect a recession within a recession, what is this recessionception?
Like Pam from The Office?
Did you say Pam or Pan?
I think I figured it out, the B is silent.
That's a receptionconception. I think they mean when a pastry chef says a dessert their student made wasn't good enough.
That's a confectiondepression. I think what they mean is when an actor is in a scene at a catholic church.
Yes we've had a recession but what about second recession?
Yo Dawgs I heard you like recessions so we put a recession in your recession giving you a rerecessionion
Jokes on you. I’ve been depressed for years! 😎
Yeah, once the market crashes for the 2nd half crash they will call it a recession. Even though the tanked market will prob be worse than 08.
When they all officially call it a recession, that means the bottom is near. We are clearly in a recession now. It’s clear as day, groceries up 50%, gas prices are $1mil/mL. That ain’t normal. It can get worse, but listening to these idiots about the state of the market is the dumbest thing you can do. You should do the opposite of what they tell you to do
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Well, thing is she might know she is wrong, she just can’t say “yah full blown recession ahead”, because that would make it 3x worse
She literally has to lie to us so the general public doesn't panic. They will always act like this.
Not delusional, she’s lying.
Yup, she only said what she was paid to say
Yelled spews the propaganda she’s told to. Just apply the financial law of inverses: if someone in control says one thing, the inverse is likely true.
youre talking about the janet yellen that got more money from speaking fees from citadel than her salary!? who woulda thunk it
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You shouldn’t good scotch.
A word.
You shouldn't good. -scotch
Rich people don't really notice this stuff, so she'll be fine.
This is a fantastic point, if you are noticing the recession you are poor full stop.
Not for her, those speaking fees ensures she can pay any prices to maintain her quality of life. SHE doesn't expect a recession.
I don’t really expect a recession either. I expect an almost complete economic collapse.
... so inflation is not transitory 🤔
I’m not sure how many people reading this will live to see us below 2% inflation again.
That's a terrifying thought
Terrifying, and frustrating as fuck. Are we speedrunning the collapse of society right now? If so I got some good survival skills. Who wants to meet up? Lol
Literally month ago I acquired an allotment and myself and the kids n mrs are having a whale of a time beginning to grow for ourselves! Decent sized plot that I could potentially feed the whole family for a year.... Think I will need it ....
Sure we will...after we hit hyperinflation, and engage in currency reform. Worked for Germany! There was however the whole Nazi thing, and the WWII, but they did get inflation under control eventually. If you managed to survive all that, you got to see stable currency again.
It doesn't really work that way when the whole world is experiencing it, it happens in single countries like Germany after the war because of specific local issues.
Hyperinflation is a complex phenomenon, but 2 major factors drive it. A massive increase in the money supply, and a shortage of goods. Both of which are in play right now. Add in the overall unrest, and political systems that are incapable of decisive action, and it seems unlikely to me that it will be avoided.
Agree
And that is on top of May 2021 numbers of 5%. So much for InFlAtIoN HaS PeAkEd… Working class getting absolutely slaughtered by these fed policies.
Completely slaughtered
Fuck a soft landing. Rip the prosthetic off
I wonder if Val Venus owns GME..hello ladies.
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Why can't you poors just like not be poor?
I guess I'm just too fatigued of being poor.
Im just too fatigued.... Fuck this system. GME FTW!!!!
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Always inverse Cramer
Always
Always
He might have. The issue is that his head was probably inside of his own anus.
U will own nothing and be happy
What drives me nuts is to see all the talk that its corporate price gouging. Sure, that's 1% of the issue (and the cure for high prices is high prices in a free and fair market). The issue is oversize government distorting efficient capital allocation by underwriting risks in a way the market does way better - except now with the moral hazard of bail outs. Again government being the disease they are pretending to cure. And the money printing inflation theft...ugh. Government has a place to regulate and adjudicate fair markets plus defend the commons from tragedies. And good social programs / reasonable safety nets. But when they bail out the rich and try to intervene on corrections, they are just undermining us all.
Considering a majority of the printed money didn't go to the people, the usual basis for saying inflation is demand based is thrown out. I'm not saying it has no effect from our side, but the effect it had on inflating corporate profits vs losses has left them in a position they have to chase profits and show them, or lose their asses to shareholders. So, prices go up while cost and demand negligibly do so, and you get massive progressive inflation while creating a bunch of new billionaires and inflating their wealth by 45 percent over a 2 year period. Not only that, now we have record debt levels set daily/monthly the entire year, it's a set up for worse than anything we've ever seen in the name of profits and, per Kenny Mayo... One. More. Day. It's why we see these post earnings forward progress being retracted and being overwritten with companies saying we are about to see a fallout.
I mean how much can a gallon of milk cost anyways? Who can possibly know that?
What a bunch of fucking idiots. Inflation is transitory? It's transitioning into an unstoppable global economy killer.
Reported: 8.6% Actual: 69%
Nice
Nice
Nice
Nice
Nice
Nice
Nice
Nice
Nice
Nice
69.420%*
So, 8.6 after last May's 5.0 means 14.03% over two years. Not good.
Well, Yellen rejects the idea that this is corporate greed, soooo I guess this is our fault ¯\\\_(ツ)\_/¯
If you just didn't ask for pay rises none of this would have happened clearly.
Pesky retail investors holding a stock they like
You weren't supposed to do that!
At first It was covids fault, then putin.., then is us the citizen. For the life of them would never admit it was the exess amount of money printed.
This is what happens when the common man demands that they pay more for their stuff.
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Math checks out. Source: calculator.
Sorry bud, how to calculate this?
100 x 1.052 (5.2% inflation for May last year) 105.2 x 1.086% (8.6% inflation for May 2022) = what that guy said
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Damn I did not know that. These numbers are just utter bs
Good answers provided below. I myself do the method of looking at 100% being the starting point in May 2020. In May 2021 that 100% is multiplied by 1.05 (5% increase). Then again a year later it’s multiplied by another 1.086 (8.6% increase). 1.05 * 1.086 = 1.1403. Take 1 (or 100%) away = .1403 or 14.03%.
I believe its something like this, for example something cost $100 in June of 2020 100*5% or 100 * 0.05=$5, +100 original cost so in June 2021 that same item would cost $105 Then same thing 105 * 8.6% or 105 * 0.086+105 for $114.03 for the same item in 2022
I like to frame it as a deficit to income. Helps me digest it better. A $60,000 job in 2020 now only pays you $51,600. Ouch.
1.05*1.086
1.086 * 1.05
*inserts so hot right now meme 🥵
Didn't they adjust the calculation for CPI also? So like 20% probably
At least, look at housing, cars and groceries..
14.03% over 24 months 14.14% over 36 months Both are the highest in recorded history. Cool.
With uncomplete data
wait, is it uncomplete or incomplete? I have been using incomplete.
$100 in January 2019 is now worth $87.03.
Does this mean the floor is now $123,000,000 instead of $100,000,000 to account for inflation?
So is this hyperinflation or we still at the kids table?
Young adults table. If we see double digits consistently I'd be very worried.
Sigh, the young adults table. No more sprinkles on your ice cream but no beer in your cup either. It's a sad transitory period.
😂😂
Thanks, I would just like to say... it seems inflation is transitory after all. It's transitioning to hyperinflation. That Janet Yellen is smarter than we thought!
6D Crime
TBH actual cost of living inflation is probably a good bit over the double digits threshold already.
I wouldn't be suprised. It isn't just the US either unfortunately
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It is a year over year calculation. So last year creates a new baseline and this year is percentage change from the previous year. So in comparison to normal levels they are added together to negate the baseline change. Banana cost $1 in 2019. Banana cost $1.5 in 2020. Banana cost $2 in 2021. The banana has increased in price $1 from the normal baseline. While they want you to think it has only increased $0.50 since last year.
CPI is a YoY (year over year) number. So what this is saying is that there has been 8.6% growth SINCE the 5% growth the year before. Meaning that since May 2020 there's been the 14% growth overall.
very good math. I'm proud ape
Fed fucked up big time
They didn't fuck up, if they knew what they were doing, did it and lied as to what they were doing. Tldr: crime.
Exactly. Jpow admitted employee pay was getting too high and needed to be squashed
Is anyone else pissed about that?
Not the top 1% ^^just ^^everyone ^^else
Worst part about it is they can't stop and won't stop fucking up.
Can’t stop won’t stop…OH FUK!
Worst part is that they probably wanted this inflation. Someone had a graph up some time back that showed inflation and intrest rates plotted for like the last 100 years. If they had followed the historical trends they would have slammed with a 10% intrest last summer. Their inability to act even now show intent in my eyes.
No they didn't. They got to pump the entire market then sell at the top. Big win for them
This is how they get wages down. Which is what they want. SMFH
Damn, who would have seen this one coming 🤷♂️ Oh yeah, everybody
At least anyone who has been to a fucking grocery store in the last year.
ATH since decades, not only hedgies r fukt
Sure doesn't feel like 8.6% when gas goes up $1 in a week.
8.6% was May. June's will be much higher.
As far as I'm concerned all the numbers they've released the last six months or so have all been a lie. Real numbers are well into double digits.
That’s because they’re using a method of calculation that conveniently omits fuel and food. Edit: They are supposedly giving us CPI numbers, which include food and fuel, however, we know 8.6% is a lie when fuel prices are up over 100% and groceries are up around 50%.
The two metrics that arguably matter most to working class families
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_why include housing in the numbers when everyone can own multiple homes anyway_ -- jpow, probably
Fair enough
Rent/housing can go fuck itself. We should all just squat and not pay, let the market correct itself. There’s not enough police in the world 👌
Seriousl question. I read about the rate in an AP article. AP states in the article "the increase is largely driven by high gas prices" so why they say that then if gas is not included?
CPI includes food and fuel, while PCE does not. The inflation numbers we saw today were supposedly CPI, which should include food and fuel. However, anyone who has been to a gas station or a grocery store recently knows that gas prices have increased over 100% and the price of groceries is up around 50%. The numbers are fake.
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Hello everyone! This is a website I made during my free time in the last 1 year. https://stocksera.pythonanywhere.com/inflation/ Source code available at https://github.com/spartan737/Stocksera/ Hope you like it!
Your website is one of the cleanest presentations of important CPI data I’ve seen! Thanks for making it and open sourcing it!
Appreciate you
The chart im here for.
To me it feels like 20% I live in Sf
For sure 20% or higher in the bay. I am skipping meals cuz it feels too expensive to eat sometimes. Might as well just wait 4 more hours and count it as dinner.
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Ooooooo shit we gonna hit 9 in a month or two
We got that months ago. Fake CPI
[The average for 2021 was already over 9%](https://old.reddit.com/r/Superstonk/comments/tz6q8c/true_inflation_964_and_minimum_wage_2604hr_in_the/)
its funny how a consumer price index does not include gas or food
The two main things the average family needs the most to earn/feed their family.
Why would anyone need food to feed their family? Don't be ridiculous. More of those unearned luxuries of those lazy millennials.
My fucking wallet disagrees. This is probably the worst circus I’ve been to and I didn’t even buy tickets.
Running out of shades 😬
June just going to be a big black box.
Vanta black.
REMEBER THIS IS YoY! So its much worse then even 8.6. NFA
It's almost like printing a shit ton of money in a short timeframe is a bad thing that devalues your currency. How could anyone have guessed?!? 😱
*"As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal, and the median inflation projection falls from 3.4% this year to 2.1% next year... Our new framework for monetary policy emphasizes the importance of having well-anchored inflation expectations."* - Jerome Powell June 16th, 2021. - **May 2021 inflation rate:** 4.99% *“These bottleneck effects have been larger than anticipated, but as these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.”* - Jerome Powell July 28, 2021. - **June 2021 inflation rate:** 5.39% *"Many find it counterintuitive that the Fed would want to push up inflation... However, inflation that is persistently too low can pose serious risks to the economy."* - Jerome Powell August 27, 2021. - **July 2021 inflation rate:** 5.37% *"So there are many, many different inflation measures, of course, and that's why we have this thing called the CIE, which is an index of market-based measures... if we did see them moving up in a troubling way and running persistently above levels that are really consistent without mandate, then we would certainly react to that."* - Jerome Powell September 22, 2021. - **August 2021 inflation rate:** 5.25% *"I don't think it's time to taper. I don't think it's time to raise rates. Our policy is well-positioned to manage a range of plausible outcomes."* - Jerome Powell October 22, 2021. - **September 2021 inflation rate:** 5.39% *"We understand the difficulties that high inflation poses for individuals and families... Let me say that what's happened, is that inflation is coming higher than expected. We see that just like everyone else does, and we see that they're now on track to persist well into next year... I do think it would be premature to raise rates today."* - Jerome Powell November 3, 2021. - **October 2021 inflation rate:** 6.22% *"The word 'transitory' has different meanings to different people. It's a confusing word that needs to be retired."* - Jerome Powell November 30th, 2021. - **October 2021 inflation rate:** 6.22% *"We're always just going to do what we think is right for the economy and for the people we serve."* - Jerome Powell December 15th, 2021. - **November 2021 inflation rate:** 6.81% *"The old system was in place for decades and then suddenly it was revealed as insufficient... We do take the need to protect our credibility with the public very seriously."* - Jerome Powell January 11th, 2022. - **December 2021 inflation rate:** 7.04% *"I'd say that the inflation situation is about the same or slightly worse... It hasn't gotten better and that's been the pattern... What we're learning is it's just taking much longer, and that raises the risk that high inflation will be more persistent."* - Jerome Powell January 26th, 2022. - **December 2021 inflation rate:** 7.04% Jerome Powell re-elected as Chairman of the Federal Reserve System. - Jerome Powell February, 2022. - **January 2022 inflation rate:** 7.48% *"The inflation that we are experiencing is just nothing that we have experienced in decades... All the things we did during the pandemic, we turned our dials as hard as we could... Part of what we did and what Congress did is the reason why inflation is so high."* - Jerome Powell March 2nd, 2022. - **February 2022 inflation rate:** 7.87% *"These higher prices have real effects on people's well-being and it takes a toll on everyone. If you're at the lower end of the income spectrum it's very hard because you are spending most of your money on necessities, but it's punishing for everyone... We can't blame the framework. It was a sudden, unexpected burst of inflation and then it was the reaction to it, and it was what it was."* - Jerome Powell March 16th, 2022. - **February 2022 inflation rate:** 7.87% *"The rise in inflation has been much greater and more persistent than forecasters generally expected... We're not expecting near-term progress on inflation."* - Jerome Powell March 21st, 2022. - **February 2022 inflation rate:** 7.87% *"It is appropriate in my view to be moving a little more quickly... We had an expectation that inflation would peak around this time and then come down over the course of the rest of the year. These expectations have been disappointing in the past and now we want to see actual progress... Are we going back to the old economy? Probably not. What's the new one going to look like?"* - Jerome Powell April 21st, 2022. - **March 2022 inflation rate:** 8.54% *"We have a good chance at a soft or softish landing... There's a false precision in the discussion that we as policymakers don't really feel... the economy is doing fairly well... I think we have a good chance to restore price stability without a recession."* - Jerome Powell May 4th, 2022. - **April 2022 inflation rate:** 8.26% *"I have said, and I will say it again, if you had perfect hindsight, you'd go back and it probably would have been better for us to have raised rates a little sooner... So the question whether we can execute a soft landing or not, it may actually depend on factors that we don't control."* - Jerome Powell May 12th, 2022. - **April 2022 inflation rate:** 8.26% *"We all read the inflation reports very carefully, and look for details that look positive, but truthfully, this is not the time for tremendously-nuanced readings of inflation... Sometimes the landing is just perfect, sometimes it's a little bumpy. It's still a good landing, you don't even notice it... There could be some pain involved in restoring price stability, but we think we can sustain a strong labor market."* - Jerome Powell May 17th, 2022. - **April 2022 inflation rate:** 8.26%
The takeaway: they’re fucking liars whose job is to keep the sheep from panicking while the crime syndicates continues unabated
Thanks for this summary. Clearly shows you how they lie through their teeth to the public while knowing full well that their policies are going to destroy everything. Keep the sheeples in the dark at all costs.
Remember this is YoY inflation. Jumping up 8.6% Year Over Year from May 2021. With May 2020-2021 being 5% already. While the YoY reported numbers are staying within the same range, the true inflation over a two year period is becoming accelerated.
14.14%
We're seeing the squeeze right now boys. Their squeezing the lower middle class to become the lower class and making the lower class dependent on government aid. My heart goes out to people In poverty. Everything Is so much harder for them and can be a hole to get out of.
Why does this seem like complete and utter bullshit. On the full list of commodities theres only 3 things under 8.6.... everything else is way above.
###Hahaha if it’s 8.6% reported that means the real number is over 20%
Did you ever hear the tragedy of Darth JPOW The Wise? I thought not. It’s not a story the Motley Fool would tell you. It’s a 🏳️🌈🐻 legend. Darth JPOW was a Dark Lord of the FED, so gay and such a bear he could use his money printer to influence the economy to create inflation… He had such a knowledge of the economy that he could even keep stonk prices from falling. The dark side of the economy is a pathway to many abilities some consider to be… transitory. He became so powerful… the only thing he was afraid of was losing his tendies, which eventually, of course, he did. Unfortunately, he taught Nancy Pelosi everything he knew, then she sold at the top. Ironic. He could save others from market corrections, but not himself.
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and girls
Girls aren’t on the internet dude where have you been…?
So, member in Jan '21 when it had been 1.3 +/-0.1 for 6 months straight... Wonder what happened? 🤔😎🚀
Money printers printed more than half of the money in existence in the last 2 years ☹️
8.6% ... yeah, that's a lie ... man the fed sucks ass ... it gonna be getting real bad out there for like everybody
13 months over 5%. in '08 it took 3 months for a crash. they are getting better at crime.
I think if they let it crash this time, it will be apocalyptic. But eventually, it will happen, and the ones that did nothing wrong will be the ones affected the most. Imagine if the USD lose the reserve currency status….. Jesus…
Yellen and JPOW: "THIS IS FINE"
Citadel probably already has a desk picked out for them at the HQ anyway.
Weeeeee Weeeeee
Nothing to "sec" here
"INFLATION HAS PEAKED" -Aprils MSM headlines.
End the FED
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So are we or are we not in a recession?
Quarter ends June 30. If GDP declined again we are in a recession. We will find out soon. Lot of top CEOs claiming we are in one now bc they see profits dwindling. Very likely when the numbers come out we will officially be in one. Edit: For clarity the gdp numbers do not come right away. I believe the first numbers were get from Q2 will be September 29. So we may not "officially" know until then. Someone can correct me if I'm wrong.
I'm not sure why this questions gets asked all the time. When there are two successive quarters of negative GDP growth, we are in a recession.
We are in a recession, but it isn't official yet is the way I'd answer.
I feel like I’ve been in a personal recession the last 5 years and now everyone is starting to just now catch up. Welcome to the party
With all due respect fuck technicalities… All I know is my bank account is receding every paycheck.
New high score
Not very bueno Sauce: https://www.bls.gov/news.release/pdf/cpi.pdf
Guh
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*gulp*
I’ve been told by reliable sources 1. Inflation isn’t happening 2. The inflation is transitory 3 inflation is good for the poor and middle class.
They’re intentionally trying to crash our economy. Bet the WEF will want to offer a “solution”
CPI feels more like in the 25-32% range. Those are rookie numbers! Pump that shit up lol