Paul Krugman: In other news, inflation looks beaten. The blip a few months ago looks like start-of-year price resets, and what’s left is lagged housing costs

In other news, inflation looks beaten. The blip a few months ago looks like start-of-year price resets, and what’s left is lagged housing costs

Oh good just one of the most fundamental essentials for life, housing.

"Inflation is beaten, as long as you ignore food, energy, and housing"

I'm so confused. If you exclude the things you need to buy, it still shows that it's up 3% from a year ago

They don’t include “it’s too expensive for me to buy a house” in the housing measure you understand, right ? Also the measure with housing shows the exact same trend and is only a bit above 2% and dropping.

It's been Too Expensive For Me To Buy A House since before and after I bought a house. In fact the only time it wasn't "too expensive [for people] to buy a house" was during the crazy run-up with nutty loans that led to the 2008 crash, which turns out to have been when it really WAS too expensive.

All the job ads are fake and actual job hunting is in deep recession but you're too privileged to know anything about real work and too old to understand cyberscams so you're incapable of understanding the economy that human beings actually experience

...what

Not only does your own graph show inflation remaining higher than 2019, but you've again failed to remember that when inflation goes down, prices STILL GO UP. Economists are the dumbest people alive, istg

not stupid, rotten

Monthly cost of a $350,000 mortgage loan at today's average mortgage rate: $2500 Monthly cost of my $500,000+ mortgage loan at average 2021 mortgage rates: $2200 Housing prices ain't never recovering

Now if only there were consistent deflation over the course of several years to bring minimum wage buying power back in line with what it was in the 1960s.

ah good. it's only housing costs. luckily we've not run out of greenbelts to build on and there's no shortage of multifamily zoned land in cities and interest rates are still incredibly low and construction labor costs are not increasing and we have funds for abundant social housing and

not that objective reality matters

Groceries still cost a bomb though, and some of those prices are still rising where I live (West Central FL).

@pkrugman.bsky.social Thanks, Biden.

Sounds like Biden works better than he looks. Funny how that works, hm?

Maybe the homeless can live in McDonald's new 5 dollar meal.

beaten, except for everything still being more expensive, sure.

Good thing we changed the metric to ignore housing otherwise that number would look real bad

Eat my ass Paul.

Don't you feel lonely over here, Paul? What with most of your fascist friends over on X with the rest of the bigots and lowlifes?

Can you put it in 5k above poverty?

I see that and understand it. Yet, I go to the grocery store and holy hell, $5 for some half and half?? So I think that's the inflation story that matters to voters.

Yeah, nowhere on this graph does it say the prices have gone down. Only the increase has slowed. So yeah it's going to hurt even more to buy groceries today than a year ago

In other news, an important leading economic indicator has been in decline for 18 months, and just logged its worst month since the pandemic. www.architectmagazine.com/technology/m...

Architect billing 🤣Nice Onion headline there.

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