Comments by "DrScopeify" (@drscopeify) on "Former Fed Governor Frederic Mishkin on March CPI data: The Fed has to keep staying the course" video.

  1. Wellllll I read the report its mostly oil, housing, services but this will all take time another 1-2 years but that is not an issue however if the economy starts to bleed then everyone gets smacked hard for what? Because inflation is 3.5% instead of 2.4%? Is it worth such pain over less than 1% difference? The FED made a mistake with the 2% target it should not be tied to any specific % because not all inflation acts the same, some falls fast and some moves very slowly like home prices. As more home owners have to move over time, they will be exposed to the new higher rates but this can take many years to play out but we don't need to crush our economy over a timing issue.
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  2. The President has very limited control over the economy, it is just one guy in a white house, he can't force American to go out and buy stuff, or take on debts, or take risks in life, that's not something any President can control. I don't care who the president is it means nothing, people always force politics in to everything but it's just not reality. People blamed trump for a bad economy in 2020 and now they blame Biden in 2024 but it's meaningless, they have no real control over the economy. They can try and boost sentiment, making people feel confident to take on risks but that's about it. They printed 5 trillion Dollar for COVID both Trump and Biden but that;s not the only reason we have inflation today, it's oil prices which is set by OPEC which the USA is not even a member of....
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  3.  @teebone2157  Don't forget the USA is always leaking out inflation as we buy goods from around the world the money paid leaves the USA to other countries so inflation is always getting sucked out. The one big ticket items that is NOT sucked out is housing, we had almost the same new housing number from 1960s to 2008 amazingly stable but then it collapsed to nothing and has very slowly creep back up only hitting the 1960s level in 2021 after COVID rush to move homes but in 2022-2023 went back down and only now in 2024 is rising back up again, but we are only at the 1960s level and we now are missing 7 million homes while the population in this country from 2008 to today went up 31 million people. So yeah that is the real problem here. That and oil which the price is set by nasty OPEC Mafia which is why I am actually for EVs if we all Drive electric cars we will no longer be slaves to the price of oil set by OPEC fruit cakes.
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  4. I read the report its mostly oil, housing, services but this will all take time another 1-2 years but that is not an issue however if the economy starts to bleed then everyone gets smacked hard for what? Because inflation is 3.5% instead of 2.4%? Is it worth such pain over less than 1% difference? The FED made a mistake with the 2% target it should not be tied to any specific % because not all inflation acts the same, some falls fast and some moves very slowly like home prices. As more home owners have to move over time, they will be exposed to the new higher rates but this can take many years to play out but we don't need to crush our economy over a timing issue.
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  5. it is both. Inflation is transitory for goods made outside of the country, when you buy something made in China that money leaves the USA which sucks out inflation from the country,. The money you spent on the item, is not feed back in to the economy it is taken out of the economy and sent to China. And China uses that money to buy oil and gas from middle east or resources from Australia or Brazil to make more goods. The money is sucked out of the USA so that is transitory. However, some things like Housing are not external they are internal so those are not transitory. We lack 7 million homes due to the impact of 2008 crisis, if you look at the completed new housing units has been pretty stable from 1960s to 2008 then it fell to very few units and it has been rising very slowly only reaching back to 1960s levels in 2021 then fell back down in 2022-2023 and is now back in the trend line in 2024 but since 2008 to today we are missing millions of homes while the population from 2008 to 2024 has gone up 31 million people. We had too strict controls over builders, too much regulation, too many taxes, too strict loan rules, just too much in the way.
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  6. Becasue having inflation problems could boosts trump in the polls but the funny thing is that neither Trump or Biden really have control over inflation that is the American people deciding if to buy stuff or not, that has nothing to do with the President. Yeah, Biden and Trump created 5 trillion for COVID stuff and that might be part of the inflation together with Oil prices which is set by OPEC and other issues but there is only so much they can do to stop Americans spending too much causing inflation, they don't want to slow down the economy more than it has to so there is nothing they can do really, the FED has more say than they do. Even if Trump was president right now, what would he do different from Biden? He wants to cut tax = higher inflation and debt, he wants a trade war with China = higher inflation.
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  7. I agree with you, I read the report its mostly oil, housing, services but this will all take time another 1-2 years but that is not an issue however if the economy starts to bleed then everyone gets smacked hard for what? Because inflation is 3.5% instead of 2.4%? Is it worth such pain over less than 1% difference? The FED made a mistake with the 2% target it should not be tied to any specific % because not all inflation acts the same, some falls fast and some moves very slowly like home prices. As more home owners have to move over time, they will be exposed to the new higher rates but this can take many years to play out but we don't need to crush our economy over a timing issue.
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