Comments by "wvu05" (@wvu05) on "WOW: Inflation at lowest level in 2 years" video.

@tyc6268 A) Doesn't change the fact that "record high inflation" is a lie, B) Inflation is a slow moving ship. Would you rather Powell just slam the interest rate to 12% right away, or did you forget the lesson of Paul Volcker and how it led to what was at the time the highest unemployment and worst recession since WWII?
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A lot of people also forget that the headline number is year-over-year, so by definition, it's going to take a while to show up when you do it that way. I remember some winger insisting that the Inflation Reduction Act was a failure because "inflation is still 7%," or some such high number, when it was pretty obvious that it was increasing at half the rate as before.
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 @RedXlV Indeed. The last period of major deflation we had in this country was the Great Depression. We also briefly had deflation in 2009.
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Define "record high." Inflation was double digits in the 1970s, and so bad in the 1790s that the country almost went under. Inflation peaked at 8.8%, and the level now is getting pretty close to the historical average of 3%.
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@tyc6268 I literally commented to the OP who used that exact phrase, and I pointed out why it was false. The fact that you defended the OP by saying, "Well, it's still bad" misses the point that the OP lied. Record high and runaway inflation require very different actions than a spike that is already starting to drop, and given how slow moving the economy is when it comes to such indicators, do you know what is worse than inflation in the high 4s? Trying to slam the brakes on the economy in a misguided attempt to "get things under control."
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@tyc6268 And again, something even worse than inflation is deflation, and slamming on the brakes of the economy to try to tame inflation has worse results. If you want to argue that it isn't great, fair enough, but you handle "higher than usual but coming down" inflation in a much different way than "record high inflation." And you didn't answer my question after multiple attempts: do you think that Powell should in short order raise interest rates to double digits in order to deal with it?
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@tyc6268 You're not asking "why" anything. You are only clinging to the idea that there was a defense of the lie about record inflation. To use the Check Engine light analogy, you bring it in for a check up instead of saying that the sky is falling. If you want to use a car analogy, a better one might be that you don't throw a car driving down the highway into reverse, because you'll kill the car.
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@tyc6268 Yeah, we should have just seen 5MM people killed instead of 1. And if you hadn't noticed [in Homer Simpson style whisper] Trump was President during the shutdowns. And the fact that you use the phrase "printing money" shows that, no, you don't know the cause.
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 @jordanslingluff287 No, a combination of pent-up demand and monopolies taking advantage of the supply chain issues as a cover story are what caused it.
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