Quote:
Originally Posted by Gatordash
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That was quick. Pretty sure you told me inflation is transitory like two weeks ago and CPI was only high because of used car prices or something like that.
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Well the CPI was a lot higher because of the car market. But I never said there was no inflation at all. Just not as big as it looked. Which was correct. Everyone always admits there might be some inflation, and the spending can cause some inflation.
They explain why the "transitory" theory is more likely than "government spending."
I don't know how reasonable it is to disagree with. I mean yea -- food is up 3% overall (which includes a lot of 8%) which means it was a little higher than "normal" inflation. So if that's what your talking about -- something below that 1% -- then yes the spending may indeed have caused it. Even if it didn't that's just as situational as a lot of things would be if it did.
Who gets the money? How are they spending it? Did the people selling the goods decide to raise their price?
It all matters more than a raw number of total money spent.
But the transitory inflation is nothing to wave away. Gas prices matter obviously.