Cost of Living in America
By Barry Ritholtz - August 5th, 2009, 11:15AM
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
August 5th, 2009 at 11:58 am
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=Linear&chdeh=0&chdet=1249502400000&chddm=326485&chls=IntervalBasedLine&q=NYSE:USO&ntsp=0
August 5th, 2009 at 6:24 pm
So, in Detroit, where the u6 is probably at 20% the CPI has contracted by just 1.5%. What deflation??
August 5th, 2009 at 9:58 pm
The CPI is misleading nonsense. In my experience in the NY Metro area, combined real-life living expenses (e.g. medical costs, energy, food, clothing, entertainment, transportation, etc.) are certainly not flat or down.
August 6th, 2009 at 4:57 am
This is complicated. Based on the Japanese experience, we may well see deflation in big ticket and discretionary items (housing, autos, boats etc..) with modest inflation in daily expenses (energy, food, public transportation).
August 6th, 2009 at 9:08 am
Agreed that it’s not simple. My point is that in practical terms inflation is already evident for everyday type expenses. I am not an economist, but it seems hard to believe that rampant inflation will not take place.
August 7th, 2009 at 12:18 am
I saw today on MSM the new shorty multi-billionaire Paulson explaining that job wages are stratification’g due to technology and the manufacture’g patents … the minds that keep those processes running … so I lowered my costs to lure in more work in these times .. that rebalance’g to robots and foreign labor … now next step is (one or a bit of all) hope .. a new idea and plan .. or downsize (which is deflation in TBP) .. I am leaning to the logical move as being a downsize but my heart says what’ll I do then …… 7x across the USA like Forest might be different?
August 13th, 2009 at 3:31 pm
@tawm 9:08 am
” … it seems hard to believe that rampant inflation will not take place.”
Reality is often hard to believe. That’s the advantage that reality has over fiction. (this meme stolen from Tom Clancy)