That stubborn, pesky inflation \ stacker news ~econ

2971 sats \ 21 comments \ @siggy47 13 Feb econ

I love the word choices in mainstream financial media. Describing inflation as stubborn, as if command central had vanquished the beast, but it still hangs on before its inevitable defeat. In the end, it is really a misguided, religious devotion to socialism.

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1052 sats \ 8 replies \ @TomK 13 Feb

According to the data and analyses of 'Trueflation', the CPI data on which the Fed bases its policy is lagging significantly behind.

21 sats \ 0 replies \ @0fje0 13 Feb

Interesting. Found this in one of their blogs on their website:

Backed by Coinbase and Chainlink, Truflation is a leading DRP (definite reference point) for economic truth that is powering the tokenization of Real World Assets with its independent, transparent, and real-time financial data. Tracking over 13 million items, Truflation’s censorship-resistant and accessible data indexes provide the necessary data infrastructure to bring about systemic advancements in the DeFi economy, empowering dApps like DEXs to open limitless markets. From speculating on prices of orange juice and uranium to enabling BTC-denominated oil, gas, and corn prices, Truflation provides the key to unlocking a diverse array of financial markets and instruments in the Web3 world.

21 sats \ 1 reply \ @siggy47 OP 13 Feb

That is incredible.

271 sats \ 0 replies \ @TomK 13 Feb

trueflation does indeed apply an interesting concept: https://truflation.com/methodology

0 sats \ 4 replies \ @siggy47 OP 13 Feb

So how would you interpret this, Tom?

363 sats \ 3 replies \ @TomK 13 Feb

we have to assume that the Fed has all the data at its disposal, i.e. it also knows the truflation interpretation. but it is currently not in its interest to let the stock market run too hot, although in my opinion this is almost inevitable for the next few months. therefore, data is probably rather overstated at the moment. then all this has to be seen in the context of currency competition with the eurozone. we have a chicken game ahead of us here: whoever lowers first, loses.

21 sats \ 1 reply \ @siggy47 OP 13 Feb

I guess we also have to take into account the building pressure regarding the presidential election, though.

407 sats \ 0 replies \ @TomK 13 Feb

as far as the biden administration and the exorbitant debt behavior is concerned, i'm not sure exactly what role J Powell and the Fed are playing here. so far, he has made life difficult for biden in any case. so far, Janet yellen has also been lucky that the European Central Bank in particular has made massive purchases of us government bonds in order to keep interest rates lower in the US and prevent capital flight from the eurozone.

0 sats \ 0 replies \ @Bell_curve 13 Feb

Food is the best gauge of inflation

499 sats \ 0 replies \ @KeynesianClowns 13 Feb

Agreed. It's like a game to them to convince as many people as possible that we are waiting on the free market to equilibrate rather than the central planners deciding how they are going to screw everyone.

294 sats \ 0 replies \ @cascdr 13 Feb

🤡🌎

321 sats \ 0 replies \ @lunanto 13 Feb

Yes, the media can surely produce attention-grabbing headlines and as for inflation, it is the diminutive wrong decision/policies the government makes that brings us here.

293 sats \ 0 replies \ @kr 13 Feb

brought to you by those stubborn, pesky central bankers

393 sats \ 0 replies \ @Bell_curve 13 Feb

Putin price hike

There is no inflation

261 sats \ 0 replies \ @0xIlmari 13 Feb

Of course they are making it into a beast, with its own agency, an externality of the system. "It's not us, the dragon just came, but rest assured our best knights are on the case."

261 sats \ 0 replies \ @grayruby 13 Feb

They call Bitcoin a cult but fiat is way more of a cult than Bitcoin. These guys parrot the same tropes and follow the words of the Fed like a deity,

261 sats \ 0 replies \ @fm 13 Feb

Mr Smith speach.. They have to keep the lie

171 sats \ 0 replies \ @CruncherDefi 14 Feb

Framing inflation as some 'natural phenomenon' (implicitly implying "so don't be angry at us") is the main trick or FIAT system.

171 sats \ 0 replies \ @positronic_bot 14 Feb

Thought the same when first saw it published. Economists are the oracles and priests of our time. First, there was no inflation. Then it was transitory. Then it was beaten. Lies don't compound somehow.

63 sats \ 0 replies \ @DiedOnTitan 13 Feb

Socialism? Feels more like kleptocracy.

0 sats \ 0 replies \ @Atreus 13 Feb

The only thing that impresses me is how they never tire of bullshitting.

But then, they could well be bots 🤖 these days, eh? If not literally, at least mentally.