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Source: Russell Investments

Category: Digital Media, Economy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “What’s the State of the Economy?”

  1. The only recovery in this country was for the top wealthy people. A stat I heard was that 73% of the people in this country are living week to week. Another stat is that wages for the middle and low income people in this country, in the last thirty years, has actually fallen from approximately $36,000 down to approximately $30,000.00 and do not forget inflation has risen in 30 years sending the cost of living much higher.

    Our lovely Fed Chief, Ben, strips outs FOOD & ENERGY when he talks about inflation not rising much. When was the last time he went shopping for milk and eggs. This HAS TO be a reason why he keeps pumping a TRILLION $ a year into the market and it cannot be because tyhings are going so well for the working class.


    BR: Hello Harris. A few points and observations:

    1. No, the Fed does not “strip outs FOOD & ENERGY.” BLS reports Consumer Prices Index, and besides, the Fed’s preferred inflation measure is the PCE

    2. Inflation ex-inflation is the term I gave this in the 2000s. Greenspan began emphasizing that “including food and energy made CPI volatile.” As I said back then, and we all know now, he was wrong.

    3. If you want some history on this, Arthur Burns began stripping out Food & Energy in 1973-74, and then everything else that went up in price.

    Lastly, “A stat I heard” is a nonsensical line that we simply do not tolerate around these parts. If its not worth the time to verify the info and post a link, than please don’t bother commenting here. Thanks!