“We Can Live With” $4 Gas: Economist Sees Hope for U.S. Amid Global Slowing

All you did was attack a source. People do that everyday on this site, and it has yet to actually make a valid point, let alone win an argument.
 
Carlos Spicy Weiner said:
All you did was attack a source. People do that everyday on this site, and it has yet to actually make a valid point, let alone win an argument.
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Perceived underestimation of inflationSome critics believe however, that because of changes to the way that the CPI is calculated, and because energy and food price changes are currently excluded from the Federal Reserve's calculation of "core inflation," that inflation is being dramatically underestimated.[SUP][7][/SUP][SUP][8][/SUP] The second argument is unrelated to the CPI, except insofar as the calculation of CPI is modified in response to a perceived overstatement of inflation.
The Federal Reserve's policy of ignoring food and energy prices when making interest rate decisions is often confused with the Bureau of Labor Statistics' measurement of the CPI. The BLS publishes both a headline CPI which counts food and energy prices, and also a CPI for All Items Less Food and Energy, or "Core" CPI. None of the prominent legislated uses of the CPI excludes food and energy.[SUP][9][/SUP] However, with regard to calculating inflation, the Federal Reserve no longer uses the CPI, preferring to use core PCE instead.
Some critics believe that changes in CPI calculation due to the Boskin Commission have led to dramatic cuts in inflation estimates. They believe that using pre-Boskin methods, which they also think are still used by most other countries, the current U.S. inflation is estimated to be around 7% per year. The BLS maintains that these beliefs are based on misunderstandings of the CPI. For example, the BLS has stated that changes made due to the introduction of the geometric mean formula to account for product substitution (one of the Boskin recommended changes) have lowered the measured rate of inflation by less than 0.3% per year, and the methods now used are commonly employed in the CPIs of

http://en.wikipedia.org/wiki/United...e_Index#Perceived_overestimation_of_inflation

And; www.investopedia.com/university/inflation/inflation2.aspCached - Similar

As well as; www.investopedia.com/articles/07/consumerpriceindex.aspCached - Similar

That yurt denies this is not surprising, seeing how he is a partisan hack liar.
That you deny reality is disturbing, but tempered by your obvious man-crush on Yurt.

Feel free to rejoin the conversation once you are familiar with how inflation is actualy calculated.
 
So, the BLS believes something, and you agree with them. That's very quaint, but it does nothing whatsoever to con anyone into believing that $4 a gallon for gas is anything but a ridiculously expensive problem.
 
Carlos Spicy Weiner said:
So, the BLS believes something, and you agree with them. That's very quaint, but it does nothing whatsoever to con anyone into believing that $4 a gallon for gas is anything but a ridiculously expensive problem.
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You mean to tell me that you think an inflation index which doesn't take into account food and fuel costs is accurate? Nice self pwn dipshit.
 
Carlos Spicy Weiner said:
PEOPLE'S WAGES AREN'T MAGICALLY RISING RIGHT NOW, RETARD! HOW BLOODY DIFFICULT IS IT FOR YOU TO UNDERSTAND?!!?
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No shit, that makes it all the more important for the neocons to lie about actual inflation.
How about you address the actual facts I asked you about and stop sidestepping?
 
Q. Is $4 per gallon a demonstrably high price to pay at the pumps?
A. Yes.

Rune A. No, because of some distracting and irrelevant speculation about the state of inflation in the US, premised around an argument that hasn't even been settled yet, but were it to suddenly become settled, would not change one damn thing about the question and its proper answer.
 
You mean to tell me that you think an inflation index which doesn't take into account food and fuel costs is accurate?

Answer the question or stand down.
 
Rune said:
Perceived underestimation of inflationSome critics believe however, that because of changes to the way that the CPI is calculated, and because energy and food price changes are currently excluded from the Federal Reserve's calculation of "core inflation," that inflation is being dramatically underestimated.[SUP][7][/SUP][SUP][8][/SUP] The second argument is unrelated to the CPI, except insofar as the calculation of CPI is modified in response to a perceived overstatement of inflation.
The Federal Reserve's policy of ignoring food and energy prices when making interest rate decisions is often confused with the Bureau of Labor Statistics' measurement of the CPI. The BLS publishes both a headline CPI which counts food and energy prices, and also a CPI for All Items Less Food and Energy, or "Core" CPI. None of the prominent legislated uses of the CPI excludes food and energy.[SUP][9][/SUP] However, with regard to calculating inflation, the Federal Reserve no longer uses the CPI, preferring to use core PCE instead.
Some critics believe that changes in CPI calculation due to the Boskin Commission have led to dramatic cuts in inflation estimates. They believe that using pre-Boskin methods, which they also think are still used by most other countries, the current U.S. inflation is estimated to be around 7% per year. The BLS maintains that these beliefs are based on misunderstandings of the CPI. For example, the BLS has stated that changes made due to the introduction of the geometric mean formula to account for product substitution (one of the Boskin recommended changes) have lowered the measured rate of inflation by less than 0.3% per year, and the methods now used are commonly employed in the CPIs of

http://en.wikipedia.org/wiki/United...e_Index#Perceived_overestimation_of_inflation

And; www.investopedia.com/university/inflation/inflation2.aspCached - Similar

As well as; www.investopedia.com/articles/07/consumerpriceindex.aspCached - Similar

That yurt denies this is not surprising, seeing how he is a partisan hack liar.
That you deny reality is disturbing, but tempered by your obvious man-crush on Yurt.

Feel free to rejoin the conversation once you are familiar with how inflation is actualy calculated.
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what i have lied about? and i don't deny it. that is a lie. and let us take this main point from your quote to prove that you have no clue what you're talking about:

that inflation is being dramatically underestimated

your link says inflation is UNDERestimated. that directly contradicts your claim that inflation makes gas "cheap" right now. you have no clue about economics.

are you going to finally admit you fucked up?
 
Rune said:
You mean to tell me that you think an inflation index which doesn't take into account food and fuel costs is accurate?

Answer the question or stand down.
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it is accurate for our gas price scenario....it is not accurate for all things, especially over a long period of time. your claim is that inflation makes gas cheap now as compared to 2008. you have yet to prove that and using the calculations i gave you indeed accurate for this one topic, gas prices.
 
You want to think that one through again, and rewrite your reply? Note that I did not quote your asinine comment, so as to save face for you, in case you figure out how really wrong your comment was.

If you rewrite it, without the idiotic mistake, I will, for the sake of future harmony delete this post, and thereby remove the evidence of your mental incompetence.

Perhaps 3-D could explain it to you, he is certainly clever enough to understand, once he pulls his head out of his ass.
 
Rune said:
You want to think that one through again, and rewrite your reply? Note that I did not quote your asinine comment, so as to save face for you, in case you figure out how really wrong your comment was.

If you rewrite it, without the idiotic mistake, I will, for the sake of future harmony delete this post, and thereby remove the evidence of your mental incompetence.

Perhaps 3-D could explain it to you, he is certainly clever enough to understand, once he pulls his head out of his ass.
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?

which post did you prove inflation makes gas cheap now?
 
Yurt said:
?

which post did you prove inflation makes gas cheap now?
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O.K., since you quoted my post, I will not be able to delete it and save face for you.

That being the case, try to follow along, I will NOT be explaining this for the next 40 pages while you try to sort it out.

OF COURSE I AM SAYING THEY UNDERESTIMATE INFLATION YOU MORON! How could over-estimating it help the cause of the destroyers?
 
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Rune said:
You mean to tell me that you think an inflation index which doesn't take into account food and fuel costs is accurate?

Answer the question or stand down.
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3-D? This question is directed to you. This is the second time I posited it for you. How about backing up your manly words with facts?
 
Rune said:
You mean to tell me that you think an inflation index which doesn't take into account food and fuel costs is accurate?

Answer the question or stand down.
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the poor individual making 2.50 an hour waiting tables thinks it's pretty fucking high and doesn't give a fuck about some inflation index.
 
Rune said:
You mean to tell me that you think an inflation index which doesn't take into account food and fuel costs is accurate?
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Can ANYONE answer this simple fucking question? Food and fuel costs amount to a large percentage of anyones income, except those in the 1%
The further one is from being in the 1%, the greater percentage of income is spent on just these two things, therefore the greater burden.
If we were truthful about inflation, ngas is cheap right now. Of course $2 a gallon gas would be more palatable, BUT that is not the topic of the fucking OP.
 
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