Comments on: 2008 CPI = 3.8% or 0.1% ?

By: danm

danm — Tue, 20 Jan 2009 12:04:53 +0000

Weighting of medical costs in CPI calculations: NEGLIGIBLE.
——————
Do they put 1, 2, 3 or 4 cars in the US calculation of CPI?

By: danm

danm — Tue, 20 Jan 2009 12:02:02 +0000

Deflation in assets and useless stuff
Inflation in essentials.

By: danm

danm — Tue, 20 Jan 2009 12:00:45 +0000

Interviewed a few PMs last week. Asked them if, on the institutional side, talks were of deflation or inflation and thay ALL gave me a puzzled look.

Talks are of pension underfunding, period.

By: ben22

ben22 — Tue, 20 Jan 2009 04:21:17 +0000

fellas,

I know you are upset about medical costs, as we all should be, but my comment was meant to be taken as a joke. Was that not clear??

By: Mannwich

Mannwich — Tue, 20 Jan 2009 03:27:46 +0000

@Thisson: There’s still inflation in food but deflation in just about everything else…….for the time being.

By: Thisson

Thisson — Tue, 20 Jan 2009 01:29:46 +0000

Out in the streets of Manhattan, I’m seeing inflation, not deflation.

The chinese place where I get lunch raised its prices last week.
When I asked the coffee vendor that sells me my morning coffee + chocolate chip muffin whether she’s seeing inflation or deflation, she told me she had been fighting with her donut supplier because although the price of flour has gone down 50%, the donut supplier is raising prices. She said her napkins, paper cups, and all other supplies are also going up in prices.

I *do* see price decreases when it comes to staple clothing items (retailers know there’s a shakeout in the works), but I don’t see price declines elsewhere.

So is deflation fact or fiction? I’m in the camp that thinks massive inflation is inevitable.

By: stantam

stantam — Mon, 19 Jan 2009 22:08:21 +0000

DEDUCTIONS??? My farking Ar$e. Those living off of SS and other modest, sometimes meager supplements, unless they die a quick death, are destined to be destitute. As my friend Walt Kelly of Pogo fame put it… (paraphrase/modification) let’s see, deduct 100,000 of medical bills from zer0 tax liability and I still owe 100,000. Yikes!

By: AGG

AGG — Mon, 19 Jan 2009 21:35:49 +0000

ben22,
When “deductions” mean a dollar for dollar reduction of taxes, then we can look at “deductible” expenses as truly deductible. Why should my medical expenses be on a par with new flat panel displays for a business? Our system is crooked. I hope Daschle carves the insurance companies a new asshole.

By: ben22

ben22 — Mon, 19 Jan 2009 21:12:57 +0000

AGG,

Look on the bright side, if your costs are a high enough % of AGI you can deduct them….

I’m Erin Burnett, I just painted a silver lining.

By: AGG

AGG — Mon, 19 Jan 2009 21:02:24 +0000

NUMBER ONE CAUSE OF BANKRUPCY IN THE USA: medical costs,
Weighting of medical costs in CPI calculations: NEGLIGIBLE.
Consequently it’s all a bunch of mendacity.
Enjoy your health while you have it. When it’s gone, if you’re not rich in our “for profit medicine” society, you will soon be destitute.