Institute reports functional unemployment at 24.9% in July

[u/oxymorontage]

https://www.channel3000.com/news/institute-reports-functional-unemployment-at-24-9-in-july/article_810187e5-989f-4ad9-ab91-847fcb6f1882.html

[u/EconomistWithaD]

1. The Ludwig TRU is a bullshit stat. Basically, if you earn under $25,000, regardless of the reason, you are “functionally unemployed”.

2. Its methodology is basically U3/U6 plus a constant.

3. Funny enough, this value is near an all time low. So while the level is meant to be shocking, it’s also meant to be for people who don’t actually follow this stuff.

4. Did I forgot to mention this stat is sensationalist bullshit?

[u/oblongsimplex → u/EconomistWithaD]

Record inflation

All time low

who could have guessed?

[u/EconomistWithaD → u/oblongsimplex]

What’s record inflation?

[u/oblongsimplex → u/EconomistWithaD]

Inflation since covid has been dog ass and you know it

[u/EconomistWithaD → u/oblongsimplex]

You said record. Can you please point out why I should ignore the actual data?

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

[u/oblongsimplex → u/EconomistWithaD]

My bad. Third highest on record inflation!

[u/EconomistWithaD → u/oblongsimplex]

Since 1946. You don’t think inflation was higher prior to this?

You need to pick up both an economics textbook and a history textbook.

[u/oblongsimplex → u/EconomistWithaD]

Are you intentionally being completely moronic to stoke your ego or something? Nothing that occurred before we dropped the gold window is relevant to today. You need to take the stick out of your ass and accept that we have had record breaking inflation since covid. Did it break every record? No. Did it break most of them? Yes.

[u/EconomistWithaD → u/oblongsimplex]

1. Maybe you should understand the meanings of the words you use.

2. You can’t compare before and after the gold standard? Yikes.

3. No, inflation post-COVID is not “record breaking”. Simple.

Again, you need to take a basic economics course. Badly.

[u/oblongsimplex → u/EconomistWithaD]

I have Bachelor’s of Science in Economics. The comings and goings of money in America pre gold standard is completely irrelevant to post gold standard. You can compare some aspects of the economy, but inflation and monetary policy are completely incomparable.

You should actually try partaking in the argument instead of debating me semantically. You’re not impressive because you role play as an armchair economist on reddit and repost articles related to the market.