@clousems: let me quote Ai for you, which appears to be relying on a quite recent October 24 report:
"The latest official U.S. core inflation rate is 2.6% year‐over‐year for the 12 months ending September 2026, according to the U.S. Bureau of Labor Statistics"
Of course, AI can make errors -- so nobody should rely upon what I write but should, instead, diligently research the facts for themselves.
But getting back to the point: do you consider 2.6 percent, year over year, to be out of control? I certainly do not. Especially compared to some of the inflation of recent years. Needless to say, America isn't Iran.
However, you're welcome to your opinion. I'm sure we'd both agree that two percent would be better.
Furthermore, I certainly do understand how inflation "works."
What I hope most others understand is the following:
Current prices reflect the ACCUMLATED effect of all past inflation. So MUCH of current high pricing -- which is what ACTUALLY stings people -- is the result of MUCH HIGHER inflation in the past and for a longer period than Trump's so-far brief second term in office.
Please don't put words in my mouth, or try to paraphrase my arguments. Please consider just what I actually write.
Since it's obvious fact, I'm sure that you agree that much of the high prices of today are NOT the result of inflation during Trump's brief term so far. They instead largely reflect the very large inflation we endured under the past administration and for a longer time of accumulated effect.
Of course -- and please notice I'm admitting it -- SOME of today's prices are due to inflation during Trump's term so far.
But -- as you'll note if you read what I just quoted above -- it would be too easy to EXAGGERATE the contribution to current prices of Trump-term inflation compared to previous higher inflation which occurred over an even longer period.
And it appears that many DO wish to exaggerate the extent to which today's prices are Trump's fault. Such exaggeration may be due to a regrettably incomplete understanding, or to reflexive politics, or, perhaps in a few cases, even to prove that Trump's tariffs were the end-of-the world disaster some were just SURE they would be.
But they weren't. Check the quote above, for perspective. Check, also, the massive -- and I mean massive -- recent investment within America. Consider, also, the effect upon rent prices of a protracted, unnecessary and unexpected increase in housing demand resulting from essentially open borders for years on end.
By writing what I wrote about the accumulated effect of inflation, I'm writing nothing remotely illogical or stubborn or uneducated, even if it makes some unhappy to hear it. I'm simply acknowledging how mathematics works.
I've written pertinent graduate-level papers, by the way, that were well received by scholarly professionals. And I'm no stranger to the practical use of inflation measures. To say the least.
I prefer to say the least, because my private life is my own. But it tires me to be mistaken for, or portrayed as, a tyro or somebody in need of basic tuition. I respect you, noble @clousems, and I hope the feeling will eventually, even if not now, be reciprocated.
I am not a callow undergraduate entranced by propaganda, in need of rescue or reeducation by the routinely aggrieved on the Left.
@clousems: let me quote Ai for you, which appears to be relying on a quite recent October 24 report:
"The latest official U.S. core inflation rate is 2.6% year‐over‐year for the 12 months ending September 2026, according to the U.S. Bureau of Labor Statistics"
Of course, AI can make errors -- so nobody should rely upon what I write but should, instead, diligently research the facts for themselves.
But getting back to the point: do you consider 2.6 percent, year over year, to be out of control? I certainly do not. Especially compared to some of the inflation of recent years. Needless to say, America isn't Iran.
However, you're welcome to your opinion. I'm sure we'd both agree that two percent would be better.
Furthermore, I certainly do understand how inflation "works."
What I hope most others understand is the following:
Current prices reflect the ACCUMLATED effect of all past inflation. So MUCH of current high pricing -- which is what ACTUALLY stings people -- is the result of MUCH HIGHER inflation in the past and for a longer period than Trump's so-far brief second term in office.
Please don't put words in my mouth, or try to paraphrase my arguments. Please consider just what I actually write.
Since it's obvious fact, I'm sure that you agree that much of the high prices of today are NOT the result of inflation during Trump's brief term so far. They instead largely reflect the very large inflation we endured under the past administration and for a longer time of accumulated effect.
Of course -- and please notice I'm admitting it -- SOME of today's prices are due to inflation during Trump's term so far.
But -- as you'll note if you read what I just quoted above -- it would be too easy to EXAGGERATE the contribution to current prices of Trump-term inflation compared to previous higher inflation which occurred over an even longer period.
And it appears that many DO wish to exaggerate the extent to which today's prices are Trump's fault. Such exaggeration may be due to a regrettably incomplete understanding, or to reflexive politics, or, perhaps in a few cases, even to prove that Trump's tariffs were the end-of-the world disaster some were just SURE they would be.
But they weren't. Check the quote above, for perspective. Check, also, the massive -- and I mean massive -- recent investment within America. Consider, also, the effect upon rent prices of a protracted, unnecessary and unexpected increase in housing demand resulting from essentially open borders for years on end.
By writing what I wrote about the accumulated effect of inflation, I'm writing nothing remotely illogical or stubborn or uneducated, even if it makes some unhappy to hear it. I'm simply acknowledging how mathematics works.
I've written pertinent graduate-level papers, by the way, that were well received by scholarly professionals. And I'm no stranger to the practical use of inflation measures. To say the least.
I prefer to say the least, because my private life is my own. But it tires me to be mistaken for, or portrayed as, a tyro or somebody in need of basic tuition. I respect you, noble @clousems, and I hope the feeling will eventually, even if not now, be reciprocated.
I am not a callow undergraduate entranced by propaganda, in need of rescue or reeducation by the routinely aggrieved on the Left.