157
this post was submitted on 12 Jul 2024
157 points (97.6% liked)
News
23296 readers
4009 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I probably should be happy about this, but I really don't care. This seems like something that's more important to experts and academics. Regardless of what the official indicators say, something just doesn't seem right to me. I can't necessarily quantify it or express it through some equation, something just feels...wrong.
It’s because this is a manufactured inflation (imo) that companies have created by greedy price gouging.
To imply that we should be rejoicing at the fact that companies are starting to drop prices slightly (even though the average person is struggling to afford GROCERIES) is quite frankly, disgusting.
No, we should be taking this as what it is: the world's smallest W. Take it, have a beer or a smoke if you've got them, and go back to being angry tomorrow.
From where did you glean that someone thinks you should be rejoicing?
I could have sworn that this was the version I read, but they may have deleted it and posted a different article on the same topic.
https://finance.yahoo.com/news/might-just-missed-earth-shattering-095630768.html
The article we're responding to here is a Reuters article that states the facts. You just linked to a poorly written CNN op-ed hosted on Yahoo
This was the original article that was uploaded, that I read. I assume they took it down and posted the Reuters article in its place.
So would you rather respond to that article or the posted one? Because the article you're citing was written with a humorous bent, which I thought would bring some levity. But instead I see it's taken seriously, so I suppose it was right to go down.
And it was the CNN article for those keeping score, not Yahoo.
There's recent research showing that may not be the case entirely, though that's not to say price gouging isn't happening in places.
https://www.reuters.com/markets/us/corporate-greed-not-blame-price-pressures-fed-study-shows-2024-05-13/
Why are you being downvoted? Is there something I'm missing with the generally accepted reliability of the source or the methodology in the research?
Where is the research in the article? It's basically citing one paper, and not really telling what its title is so you can't just review it to make sure it's valid and not missing something.
One Google away:
https://www.frbsf.org/research-and-insights/publications/economic-letter/2024/05/are-markups-driving-ups-and-downs-of-inflation/
Thanks for linking, it was just suspect that it wasn't linked in the Reuters article (I know it Reuters, but even then if it's a claim that might be challenged they should link to the research).
The source reporting on the study should lend itself to the veracity of the information. I think there's a bit of shooting the messenger going on. I trust Reuters as a reliable source of information, and if the study were lacking I feel it would be noted. The study was published in May, so I would hope if there were holes in the report they would have surfaced by now.
https://www.frbsf.org/research-and-insights/publications/economic-letter/2024/05/are-markups-driving-ups-and-downs-of-inflation/
I can say for myself, I'm certainly not apathetic towards progress.
But is it really progress, or did the price of everything jack up an it has come down just a bit because companys are finally getting the blowback they deserve as consumers reduce spending?
Yes, that's progress.
While that is a better trajectory, I do kind of have the mildly pessimistic view that a large part of the costs of good going down isn't truly a positive sign for inflation, but the market forcing prices down due to decreased spending. I'm luckily in a decent position financially (my bills are paid, rent, while not cheap, is paid on time), but the cost of pretty much everything has become so much higher with not much of an increase in earning. If the minimum wage were forced up it would probably help, but idk, every person I've talked (in person) about the issue with is pretty negative about the issue.
Minimum wage has seen positive movement in 2024, granted not everywhere. And a federal would definitely help.
https://www.epi.org/blog/twenty-two-states-will-increase-their-minimum-wages-on-january-1-raising-pay-for-nearly-10-million-workers/
The problem is we've had huge inflation for a long time now. Itstacks and accrues and gets compounded, and wages just arent keeping up.
Minimum wage went to 7.25 BEFORE the 08 housing crisis.
Well, congratulations on the good news, I suppose.
If you're in the US, congrats yourself.
Don't get me wrong, if these numbers are indicators that some people are going to experience less stress and that they will be less overwhelmed or that they will be made to feel more secure in their financial situation, I do think that is objectively a good thing and I'm happy for those people. It's just that these numbers don't make me feel any better about the economy or my personal financial situation. Maybe I should feel better, but I don't. I generally feel pessimistic, and these numbers don't change that.
Well, I'm sorry to hear that. I too hope this continues to unfold in the ways we're seeing.