[gruez]

>The official fed numbers for those are way off, you tell Americans spending >50% on their groceries compared to 2-3yrs ago the inflation is 4%. Or unemployment rates for that matter. All the numbers are garbage, nothing means anything anymore.

Where are your numbers that disprove the fed's numbers?

[frenchtoast8]

Not the person you're replying to, but I wonder what the true unemployment rate is when you exclude people who are doing gig work temporarily after they have been laid off from their career job.

[gruez]

>but I wonder what the true unemployment rate is when you exclude people who are doing gig work temporarily after they have been laid off from their career job.

That would presumably show up in personal/household income figures, but everything looks normal:

https://fred.stlouisfed.org/series/MEPAINUSA672N

[thoughtstheseus]

They’re the wrong numbers and people misunderstand the numbers. The consumption basket for CPI (food) is determined by consumption surveys. Not desire or historical consumption. You can have less and lower quality food with a rising spend on food.

For example, food away from home is down. People cannot afford to go out to eat as much. Rather than reflect the higher cost of going out to eat, the consumption basket reduces the proportion of food away from home.

There are also hard limits on food spending. People have limited money. Instead what you seeing is a continued increase in SNAP and record food bank usage.

Make no mistake. The young family or median person is worse off with food security today despite spending more.

[gruez]

>For example, food away from home is down. People cannot afford to go out to eat as much. Rather than reflect the higher cost of going out to eat, the consumption basket reduces the proportion of food away from home.

He specifically mentions "groceries" so trying to retcon his argument to being about food away from home doesn't make any sense.

Moreover BLS publishes price indices for each item in the basket, so you can exclude the effect of the basket weights changing. Looking at the "Food Away from Home" category, that only rose 33% since the pandemic, not much higher than the overall inflation of 25.4%, and a far cry from ">50% on their groceries".

[aisengard]

Don't you know, this is a vibes-based economy now? Numbers are meaningless when compared to feelings.

[jghn]

It's what Fox News says, so it must be true

[frenchtoast8]

Is Fox News actually saying that inflation and unemployment is higher? I thought the Trump Administration is claiming the opposite?