Jeremy Siegel: we need to get out of this yoy look at inflation ... 11 months of outdated data

[progree]

2. I don't agree with everything he says, he does come across to me as cranky

And his quote implies that only the latest month matters. I hope he doesn't really mean that. There is just too much month-to-month volatility for one to make the latest one month number be the be-all-and-end-all measure of inflation.

But I stick to my guns in saying that we should not be declaring the rate of inflation as being what the 12 month number shows, and that we should be looking at the most recent n months AS WELL, where n is shorter than 12 months. And on the short duration end, more than just 1 month. I posted the CPI and PPI 3 month numbers as well as the 1 month and 12 month numbers.

Since you mentioned it, I posted the PPI and the CORE PPI numbers in the above post, so all this is somewhat together. I also added it to my "CPI Megapost" https://www.democraticunderground.com/10143007428#post2

He is not alone in talking about the problems with the housing numbers and how they distort the CPI either, or asserting that rents (and prices) are falling, which they are.

EDITED TO ADD: A lot of people on DU agree that that the Fed tightening as much as it has and is expected to continue to do is not the right response to supply chain issues etc. and that inflation has been coming down. And generally agree with the opinions expressed in the gray box excerpt in the previous post. Robert Reich, pretty much universally considered LW, also agrees on tightening being the wrong policy. I don't entirely agree or disagree on the policy issue, I'm somewhat in the middle on this. I do think it's going to get us in a recession. /END EDIT.

I don't trust anybody 100% regardless of ideological bias. I didn't know he was "so right wing", or frankly that he was right wing, but then there are pronouncements from some LW economists that I don't agree with either. There is such a thing as the goofy left -- go visit JackPineRadicals for that. I look at the quality of their data and argument primarily.

I realize someone who writes "Stocks For the Long Run" is probably regarded suspiciously by some around here, no matter what the reality is https://www.democraticunderground.com/111694222#post5 . But then I'm not into Grantholmian permabearism.