3d ago

US inflation unexpectedly increases

www.bbc.com US inflation unexpectedly increases

US inflation increased by more than expected last month, pushing up the cost of living for Americans.

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Before reacting, read the article
Inflation rose to 3% in January, its highest rate for six months, and above the 2.9% expected by economists.
This is significant for bankers, but not for regular people. You're not going to notice that inflation is 0.1% higher than expected
- 0.1% for someone with a $500,000 mortgage would be $500.
  0.1% for a large company, like say, Blackrock, that has $15 billion dollars in debt, is 15 million dollars.
  Edit: however, Blackrock also *profited to the tune of 4.7 billion dollars, so the 0.1% increase is a 0.3% cut into their profit from last year. They can absolutely afford it.
- Driven primarily by….
  The cost of eggs. Yes regular people are going to notice this.
  
  Food at home up 1.9%
  You didn't even check what it's driven by, but you confidently state it
- I'd be interested in seeing where the inflation was higher than expectations. He's only been in office a few weeks; most of these markets don't react that quickly.
  Edit: Ahh, Lemmy. Where people get down voted for wanting more information.
  
  https://www.bls.gov/news.release/cpi.nr0.htm
  Shelter, gas heating and transportation up
  Oil down
  
  Its also not like Trump wasn't affecting the markets until the day he was inaugurated. He was literally illegally meeting with foreign leaders during the campaign.
  
  And manipulating the budget.
  
  What's illegal about it?
  
  It's called the Logan Act. There are actually laws about how civilians can interact with foreign officials. Dennis Rodman famously violated those laws when he went to North Korea to act in an official capacity that wasn't officially sanctioned. Trump is a civilian until inauguration, so his meetings with heads of state to discuss official matters (not just shooting the shit about movies and new restaurants) would have had to be sanctioned to be legal.
  
  an official capacity that wasn’t officially sanctioned.
  Can you explain what that means? Because he either was or wasn't.
  
  Just like it says: Rodman went in an official capacity but wasn’t given the authority. He did it on his own. It wasn’t officially sanctioned so he either lied or was just oblivious.
  
  Sounds like grey area to me, couldn't he just have met them as 'friends' or did he seriously identify himself as US president before he was inaugurated? Or is the law that strict?
  
  He claimed to negotiate and just generally be there in the name of the US. Who cares about a president? We have lots of people that operate in an official capacity to other countries that aren’t remotely close to the president. You simply cannot state you are operating with US authority in foreign relations unless you are specifically authorized.
  
  That makes sense. It sounds hard to prove though, it'd have to be on record that he (Trump) was suggesting he was meeting those people on behalf of the US instead of just as a friendly visit
  
  Well, the meeting...
  
  So the meeting is illegal because it's a meeting. Gotcha
  
  You asked what's illegal, not why it's illegal.
  
  No I didn't. "What's illegal about it" is just another way of asking "why is it illegal"
  
  No it isn't.
  
  Have it your way
  
  Not when you start tariffs wars with allies that you signed trade agreement with.

169 comments