12/12/23: Inflation down again as stocks soar, Trump cabinet leaked
The David Pakman Show
David Pakman
4.8 • 6.2K Ratings
🗓️ 12 December 2023
⏱️ 67 minutes
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| 0:00.0 | And the All right, my friends, we have to have a heart to heart about the economy. |
| 0:20.2 | We have to have a heart to heart very sober and realistic about the historical and political |
| 0:26.7 | implications of an economy that is on paper as strong as today's economy is. |
| 0:32.4 | Now I know, I know there's people who are going to be |
| 0:34.8 | bad David you're so out of touch you don't have any idea what's going on out |
| 0:39.7 | there. My comments about the economy are never based on what I or you as individuals |
| 0:46.8 | are personally experiencing. My commentary about the economy is always based |
| 0:51.6 | on the broad-based data and metrics that we use to measure |
| 0:56.5 | how an economy is doing. Let's start with today's news. inflation is down again. You might recall that October inflation was 0.0 |
| 1:09.0 | pulling down year over year inflation to 3.2 percent. Well we now have the |
| 1:16.2 | November numbers published at 8.30 a.m. Eastern time this morning |
| 1:19.9 | inflation in November was 0.1%. |
| 1:25.0 | What this did to the year over year number is pull it down further |
| 1:30.0 | from 3.2% to 3.1%. I've explained a dozen times or more how that year over year |
| 1:37.9 | number is constructed from the trailing 12 month of individual numbers. I won't do it again, but the point here is we now |
| 1:45.5 | are essentially within that inflation target of between two and three percent that's considered healthy and desirable for a developed |
| 1:57.1 | economy like the United States. |
| 1:59.6 | You can say, well eggs are still too expensive. That absolutely may be the case. My |
| 2:05.4 | hipster pasture raised eggs are down 30 cents a dozen my, you know, I get these |
| 2:11.6 | they're completely, they're free of everything they're like air they're you know soy-free gluten-free |
| 2:18.0 | A pork-free whatever they're there it's nothing these eggs are nothing just grass they used to be seven they were all the way up to seven |
| 2:26.9 | Seven nine a dozen at their peak then out down to seven forty nine. Okay your eggs maybe are're up I don't know but the point is inflation |
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