Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Post
  • Reply
Squibbles
Aug 24, 2000

Mwaha ha HA ha!

Lumpy posted:

The worst part is that this will have to be litigated all over again when they engineer the boneless chicken.
Yes, as predicted long long ago
~snip~

Somebody fucked around with this message at 02:06 on Mar 18, 2023

Adbot
ADBOT LOVES YOU

Beastie
Nov 3, 2006

They used to call me tricky-kid, I lived the life they wish they did.


pencilhands posted:

lmao at anyone over the age of 12 who eats "boneless wings"

If you have a beard it's really hard to eat bone-in wings without turning your face and beard into a big saucy mess. I tend to avoid doing that in public.

DarkCrawler
Apr 6, 2009

by vyelkin

Leon Trotsky 2012 posted:

Republicans hold a dour outlook on the country

A lovely way to say "Republican voters still confirmed to be scum of the Earth", CNN.

Tayter Swift
Nov 18, 2002

Pillbug

Beastie posted:

If you have a beard it's really hard to eat bone-in wings without turning your face and beard into a big saucy mess. I tend to avoid doing that in public.

lmao at anyone over the age of 12 having a beard

Failed Imagineer
Sep 22, 2018

Tayter Swift posted:

lmao at anyone over the age of 12 having a beard

I have a beard of barbecue sauce

Silly Burrito
Nov 27, 2007

SET A COURSE FOR
THE FLAVOR QUADRANT

Leon Trotsky 2012 posted:

Related to the interesting labelling and nutrition discussion we had and the FDA's upcoming new rules for marketing/packaging: Buffalo Wild Wings are being sued in a class action lawsuit where the plaintiffs claim that their "boneless buffalo wings" are technically chicken nuggets.

The lawsuit stems over the definition of "chicken wings" and whether the boneless wings served at Buffalo Wild Wings qualify as "wings" if they don't contain much meat fron an actual chicken wing.

The lawsuit claims that Buffalo Wild Wings processes white breast meat into a wing shape, but advertises it as dark meat from a wing.

A similar lawsuit was filed against Tyson Chicken for their "Frozen Boneless Chicken Wings" products that resulted in my favorite instance of lawsuit compliance when it was ruled that they could not call their product "Chicken Wings" anymore:



https://twitter.com/nytimes/status/1635615528306745347

In a similar vein, now we’ll have boneless pork too.

https://twitter.com/washingtonpost/status/1635693798285094920

McRiblets?

OddObserver
Apr 3, 2009

Tayter Swift posted:

lmao at anyone over the age of 12 having a beard

People before 12 having a beard should indeed not be laughed at, as that sounds like something of a health issue...

RBA Starblade
Apr 28, 2008

Going Home.

Games Idiot Court Jester

Dick Trauma posted:

The good news about systemic racism is that you can just make it not exist.

https://twitter.com/gmoomaw/status/1635431061185232897?s=20

I'm glad we finally solved the problem of Christian persecution in America, thank you local school board

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
This is a pretty huge change.

The regulations require water utilities to essentially eliminate all PFAS from their water supply. Recent research found that PFAs were more harmful in small quantities than initially assumed and the new EPA rule requires them to eliminate all PFAs down to less than 0.004 parts per trillion - which is a 99.99% reduction from current legal limits.

PFAs come from a huge amount of plastics and paper products that are regularly flushed down the toilet or down the drains as well as part of waste water that gets dumped

The estimated cost nationwide for water utilities will be somewhere between $772 million and $4 billion.

The new regulations have a 60-day comment period before they go into effect.

https://twitter.com/nytimes/status/1635645626443608072

quote:

WASHINGTON — For the first time, the federal government will require utilities to remove from drinking water two toxic chemicals found in everything from waterproof clothing to dental floss and even toilet paper, the Environmental Protection Agency announced on Tuesday.

Michael S. Regan, the administrator of the E.P.A., said the government intends to require near-zero levels of perfluoroalkyl and polyfluoroalkyl substances, part of a class of chemicals known as known as PFAS. Exposure to the chemicals has been linked to cancer, liver damage, fertility and thyroid problems, asthma and other health effects.

“This is very significant,” Mr. Regan said in an interview. “This is the first time in U.S. history that we’ve set enforceable limits for PFAS pollution.”

The synthetic chemicals are so ubiquitous in modern life that nearly all Americans, including newborn babies, carry PFAS in their bloodstream. Dubbed “forever chemicals” because they do not break down and persist in the environment, the chemicals seep into soil and water. As many as 200 million Americans are exposed to PFAS in their tap water, according to a peer reviewed 2020 study.

Last year the E.P. A. found the chemicals could cause harm at levels “much lower than previously understood” and that almost no level of exposure was safe. It advised that drinking water contain no more than 0.004 parts per trillion of perfluorooctanoic acid and 0.02 parts per trillion of perfluorooctanesulfonic acid. Previously, the agency had advised that drinking water contain no more than 70 parts per trillion of the chemicals.

The E.P.A. will accept public comments on the proposed regulation for 60 days before it will take effect and become the legal limit.

Public health groups and environmental advocates said the crackdown was long overdue.

“Regulating these six highly toxic PFAS chemicals in drinking water is a historic start to protecting our families and communities,” said Anna Reade, a senior scientist with the Natural Resources Defense Council, an environmental group. “We cannot safeguard public health until we get off this toxic treadmill of regulating one PFAS at a time when thousands of other PFAS remain unregulated.”

Mark Ruffalo, the actor who has used his celebrity status to lobby for stronger drinking water standards, said the government’s decision was a long time in the making. “And I know it took a lot of political guts,” he said.

Mr. Ruffalo, who said he was inspired to take action after reading a New York Times profile of Rob Bilott, a corporate attorney who took on Dupont, said he was frustrated to find that industrial chemicals known both by manufacturers and regulators to be dangerous to humans were being discharged daily into the air and water. (Mr. Ruffalo later portrayed Mr. Bilott in the 2019 film “Dark Waters.”)

“Over and over I see the same model play out,” Mr. Ruffalo said. “It’s a coziness that the industry has to power. They all game the system in order to make money over people’s health.”

Some industry groups criticized the proposed regulation and said the Biden administration has created an impossible standard that will cost manufacturers and municipal water agencies billions of dollars. Industries would have to stop discharging the chemicals into waterways, and water utilities would have to test for the PFAS chemicals and remove them. Communities with limited resources will be hardest hit by the new rule, they warned.

The E.P.A. estimated that it will cost water utilities about $772 million to comply with the rule. But Tom Dobbins, chief executive of the Association of Metropolitan Water Agencies, which represents some of the largest public water utilities in the country, said the estimated cost for a single entity to filter out PFAS, the Cape Fear Public Utility Authority in North Carolina, was $43 million.

The organization “is concerned about the overall cost drinking water utilities will incur to comply with this proposed rulemaking,” Mr. Dobbins said in a statement. He added the group plans to issue formal comments “to help strengthen the rule and ensure decisions are made with the best available science while taking costs into account.”

But some past critics of environmental regulation praised the plan.

Senator Shelley Moore Capito, Republican of West Virginia said in a statement she was “pleased a safe drinking water standard has finally been issued” for the chemicals. “No one should have to wonder if their water is safe to drink, and it’s critical that we get this important regulation right,” she said.

Mr. Regan made the announcement in North Carolina where he previously served as the state’s top environmental regulator. After startlingly high concentrations of the chemicals were found in several sources of public drinking water, he helped broker an agreement that required the Chemours Company to pay a $13 million fine.

“As a former state regulator, I was really looking for the kind of leadership from the federal government that E.P.A. is now demonstrating,” he said, adding the plan will protect communities from exposure to chemicals that are known to be dangerous and hold polluters accountable.

He also said money from a $9 billion package that Congress gave the E.P.A. last year as part of an infrastructure bill to invest in water programs will go toward helping states with costs.

In addition to endangering human health, PFAS chemicals also pose a problem for wildlife. The Environmental Working Group, a nonprofit advocacy organization, has created a map based on hundreds of studies showing where the pollutants have been detected in animals, fish and birds, threatening species like dolphins and endangered sea turtles.

Water utilities said they have been preparing for tough standards. Across the country, cities and states have already been cracking down on PFAS in drinking water. States that have proposed or adopted limits include Alaska, Arizona, California, Colorado, Connecticut, Delaware, Illinois, Iowa, Kentucky, Maine, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Rhode Island and Vermont, according to the National Conference of State Legislatures.

bird food bathtub
Aug 9, 2003

College Slice

Leon Trotsky 2012 posted:

This is a pretty huge change.

The regulations require water utilities to essentially eliminate all PFAS from their water supply. Recent research found that PFAs were more harmful in small quantities than initially assumed and the new EPA rule requires them to eliminate all PFAs down to less than 0.004 parts per trillion - which is a 99.99% reduction from current legal limits.

PFAs come from a huge amount of plastics and paper products that are regularly flushed down the toilet or down the drains as well as part of waste water that gets dumped

The estimated cost nationwide for water utilities will be somewhere between $772 million and $4 billion.

The new regulations have a 60-day comment period before they go into effect.

https://twitter.com/nytimes/status/1635645626443608072

Twitter is blocked at work so I can't click through. Are they putting out a drinking water standard and enforcing just that or is there any effort to cut the production of PFAS? One of those approaches seems more difficult than the other.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

bird food bathtub posted:

Twitter is blocked at work so I can't click through. Are they putting out a drinking water standard and enforcing just that or is there any effort to cut the production of PFAS? One of those approaches seems more difficult than the other.

The full article is pasted under the tweet.

The rule requires both water utilities to measure and prevent any PFA levels higher than the new limits on drinking water and for any manufacturers who produce waste water with PFA content to eliminate PFAs in their waste water before they dispose of it.

quote:

Some industry groups criticized the proposed regulation and said the Biden administration has created an impossible standard that will cost manufacturers and municipal water agencies billions of dollars. Industries would have to stop discharging the chemicals into waterways, and water utilities would have to test for the PFAS chemicals and remove them. Communities with limited resources will be hardest hit by the new rule, they warned.

Gerund
Sep 12, 2007

He push a man


Leon Trotsky 2012 posted:

The full article is pasted under the tweet.

The rule requires both water utilities to measure and prevent any PFA levels higher than the new limits on drinking water and for any manufacturers who produce waste water with PFA content to eliminate PFAs in their waste water before they dispose of it.

Reducing the waste water from the production of PFA products without reducing or legislating against the production of PFA products is a very American policy directive.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

Gerund posted:

Reducing the waste water from the production of PFA products without reducing or legislating against the production of PFA products is a very American policy directive.

The FDA also initiated a process to phase out all PFAs from food packaging by 2024 and the EPA announced last month that they are starting a new process to research and restrict PFA use in manufacturing over the next two years.

But, the only full on bans are (now) for anything that humans eat or drink.

Trees, landfills, and importers from other countries don't have any new rules regarding PFAs scheduled to be decided until next year.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
Biden says he has spoken to Jimmy Carter and revealed that:

- Carter's declining health is related to his previous cancer that had spread to his liver and brain and old age.

- Carter asked Biden to deliver his eulogy.

- Carter was likely going to die in 2015, but they found a breakthrough treatment of surgery with a new drug (pembrolizumab) and prolonged his life by another 8 years.

- However, the damage from the cancer and old age are "catching up with him" now, he had brain surgery in 2019 to relieve pressure on his brain and received further treatment.

- As he announced last month, he has stopped this treatment and entered hospice care.

https://twitter.com/mkraju/status/1635625340524544001

Decon
Nov 22, 2015


Failed Imagineer posted:

Hmm wonder which way each side of that racial split voted...

I can imagine some teachers employing an extremely sarcastic tone when providing the School Board-mandated declaration on the nonexistence of racism.

Thats possibly the most load-bearing "inherently" you'll ever see in a piece of disingenuous political rhetoric

Boy fuckin' is it. It's also firmly in the "it's okay to be white" space of rhetoric.

There's no argument that oppression is inherent to someone's genetics; the argument is that families that look a certain way have been socioeconomically othered in a way that is hard to escape. But that's a tough nut to crack, and, conveniently, the policy also declares parents as solely responsible for teaching "controversial" topics... because apparently poo poo like redlining being a real, documented thing that happened in Virginia within granny's lifetime is "controversial".

plogo
Jan 20, 2009
In other Carter news, Leo Ribuffo's unfinished carter biography was published: https://www.amazon.com/Limits-Moderation-Ironies-American-Liberalism/dp/1637238398

There have been some pretty good Carter bio's released recently, like the Outsider by Kai Bird, one by carter aide Stuart E. Eizenstat, and one by Jonathan Alter but these bios tend to be pretty sympathetic to Carter.

As the title implies, Ribuffo's is a bit more critical. Personally, I am interested in this biography because Ribuffo is a good writer and he was writing about the history of conservatism in America before it was cool. His response to Alan Brinkley's "The Problem of American Conservatism", “Why Is There So Much Conservatism in the United States and Why Do So Few Historians Know Anything about It?” is still worth reading. Also, this unpublished book on Carter was edited by his student Andrew Hartman who is a left intellectual historian writing a history of Marx in America.

Starks
Sep 24, 2006

Dick Trauma posted:

The good news about systemic racism is that you can just make it not exist.

https://twitter.com/gmoomaw/status/1635431061185232897?s=20

Lmao at the county name

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
The newest inflation report was also released today and the results weren't terribly surprising, but the makeup of the sectors contributing to inflation was pretty stark.

Some people were concerned that inflation may come in higher than expected, but it ended up basically exactly where it was estimated.

- Inflation is down year over year and the overall inflation rate is now 6% - much lower than the high of 9.1% last year, but still quite elevated.

- Energy and heating prices have somewhat returned to normal (down 7.9%) for long enough that they are making smaller impacts on inflation. Early last year, energy was the single biggest driver of inflation.

- But, housing is now responsible for nearly 70% of all inflation in the U.S.

- Food is also still significantly elevated (up 9.5% year over year - over 50% higher than the overall inflation rate) and all other sectors now make up a smaller share of inflation.

Stocks were up significantly on the hope that the Fed will slow the planned rate increases with falling inflation.

https://www.cnbc.com/2023/03/14/cpi-inflation-february-2023-.html

quote:

Inflation rose in February but was in line with expectations, likely keeping the Federal Reserve on track for another interest rate hike next week despite recent banking industry turmoil.

The consumer price index increased 0.4% for the month, putting the annual inflation rate at 6%, the Labor Department reported Tuesday. Both readings were exactly in line with Dow Jones estimates.

Excluding volatile food and energy prices, core CPI rose 0.5% in February and 5.5% on a 12-month basis. The monthly reading was slightly ahead of the 0.4% estimate, but the annual level was in line.

Stocks gained following the release, with the Dow Jones Industrial Average
up more than 300 points in early trading. Treasury yields, which plummeted Monday amid fears over the banking industry’s health, rebounded solidly, pushing the policy-sensitive 2-year note
up 30 basis points to 4.33%.

Heading into the release, markets had widely expected the Fed to approve another 0.25 percentage point increase to its benchmark federal funds rate. That probability rose following the CPI report, with traders now pricing in about an 85% chance that the Fed will hike the rate by a quarter point, according to a CME Group estimate.

“Even amid current banking scares, the Fed will still prioritize price stability over growth and likely hike rates by 0.25% at the upcoming meeting,” said Jeffrey Roach, chief U.S. economist at LPL Financial.

A decrease in energy costs helped keep the headline CPI reading in check. The sector fell 0.6% for the month, bringing the year-over-year increase down to 5.2%. A 7.9% decline in fuel oil prices was the biggest mover for energy.

Food prices rose 0.4% and 9.5%, respectively. Meat, poultry, fish and egg prices fell 0.1% for the month, the first time that index has retreated since December 2021. Eggs in particular tumbled 6.7%, though they were still up 55.4% from a year ago.

Shelter costs, which make up about one-third of the index’s weighting, jumped 0.8%, bringing the annual gain up to 8.1%. Fed officials largely expect housing and related costs such as rent to slow over the course of the year.

“Housing costs are a key driver of the inflation figures, but they are also a lagging indicator,” said Lisa Sturtevant, chief economist at Bright MLS. “It typically takes six months for new rent data to be reflected in the CPI. The quirk in how housing cost data are collected contributes to overstating current inflation.”

Still, shelter costs accounted for more than 60% of the total CPI increase and rose at the fastest annual pace since June 1982.

Because of the housing expectations, Fed officials have turned to “super-core” inflation as part of their toolkit. That entails core services inflation minus housing, a cohort that increased 0.2% in February and 3.7% from a year ago, according to CNBC calculations. The Fed targets inflation at 2%.

Used vehicle prices, a key component when inflation first began surging in 2021, fell 2.8% in February and are now down 13.6% on a 12-month basis. New vehicles have risen 5.8% over the past year, while auto insurance has climbed 14.5%. Apparel rose 0.8%, while medical care services costs decreased 0.7% for the month.

The CPI measures a broad basket of goods and services and is one of several key measures the Fed uses when formulating monetary policy. The report along with Wednesday’s producer price index will be the last inflation-related data points policymakers will see before they meet March 21-22.

Banking sector turmoil in recent days has kindled speculation that the central bank could signal that it soon will halt the rate hikes as officials observe the impact that a series of tightening measures have had over the past year.

Markets on Tuesday morning were pricing a peak, or terminal, rate of about 4.95%, which implies the upcoming increase could be the last. Futures pricing is volatile, though, and unexpectedly strong inflation reports this week likely would cause a repricing.

Either way, market sentiment has shifted.

Fed Chairman Jerome Powell last week told two congressional committees that the central bank is prepared to push rates higher than expected if inflation does not come down. That set off a wave of speculation that the Fed could be teeing up a 0.5 percentage point hike next week.

However, the collapse of Silicon Valley Bank and Signature Bank over the past several days paved the way for a more restrained view for monetary policy.

“While only moderately higher than consensus, in the pre-SVB crisis world this may well have pushed the Fed to hike 50bp at its March meeting next week. It is a sign of how much things have changed in the very near term that 50bp is almost certainly still off the table for March,” wrote Krishna Guha, head of global policy and central bank strategy for Evercore ISI.

Guha said it’s still possible the Fed keeps raising rates to a terminal rate in the “high 5s” if its efforts to restore stability in banking are successful.

Leon Trotsky 2012 fucked around with this message at 20:16 on Mar 14, 2023

Mooseontheloose
May 13, 2003

Leon Trotsky 2012 posted:


- But, housing is now responsible for nearly 70% of all inflation in the U.S.


That's going to be interesting to see if this is lagging because I have seen price drops on houses in the Greater Boston area. Which granted is one small portion of the puzzle here but clearly interest rates will impact some pricing.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

Mooseontheloose posted:

That's going to be interesting to see if this is lagging because I have seen price drops on houses in the Greater Boston area. Which granted is one small portion of the puzzle here but clearly interest rates will impact some pricing.

Housing includes rents that aren't going down much (or at all/still rising even after the big 2021 increase in some areas).

Also, the inflation measures are by definition lagging. It would be based on information from a month ago.

selec
Sep 6, 2003

plogo posted:

In other Carter news, Leo Ribuffo's unfinished carter biography was published: https://www.amazon.com/Limits-Moderation-Ironies-American-Liberalism/dp/1637238398

There have been some pretty good Carter bio's released recently, like the Outsider by Kai Bird, one by carter aide Stuart E. Eizenstat, and one by Jonathan Alter but these bios tend to be pretty sympathetic to Carter.

As the title implies, Ribuffo's is a bit more critical. Personally, I am interested in this biography because Ribuffo is a good writer and he was writing about the history of conservatism in America before it was cool. His response to Alan Brinkley's "The Problem of American Conservatism", “Why Is There So Much Conservatism in the United States and Why Do So Few Historians Know Anything about It?” is still worth reading. Also, this unpublished book on Carter was edited by his student Andrew Hartman who is a left intellectual historian writing a history of Marx in America.

Adding this to my list. Just finished Isenberg’s White Trash and it wasn’t very flattering to Carter.

GlyphGryph
Jun 23, 2013

Down came the glitches and burned us in ditches and we slept after eating our dead.

plogo posted:

As the title implies, Ribuffo's is a bit more critical. Personally, I am interested in this biography because Ribuffo is a good writer and he was writing about the history of conservatism in America before it was cool. His response to Alan Brinkley's "The Problem of American Conservatism", “Why Is There So Much Conservatism in the United States and Why Do So Few Historians Know Anything about It?” is still worth reading. Also, this unpublished book on Carter was edited by his student Andrew Hartman who is a left intellectual historian writing a history of Marx in America.

Thanks for these by the way, they've been an interesting read.

plogo
Jan 20, 2009

selec posted:

Adding this to my list. Just finished Isenberg’s White Trash and it wasn’t very flattering to Carter.

I think for you it might not be critical enough, haha.

A lot of left leaning historians writing on that time period are critical of Carter, along the lines of Isenberg (I assume, I haven't read White Trash yet.) For example, Gary Gerstle, Rick Perlstein, and Jefferson Cowie who I would classify as on the far end of left liberals, but still reconciled to the democratic party to some extent, are pretty critical in "the rise of fall of the neoliberal order", https://www.youtube.com/watch?v=Wb4ku4wN0Cw, and "Stayin Alive" respectively, but the full biographies have been more complimentary.

My favorite Carter takes are in Walter Karp's liberty under siege, but thats kinda a weird book: https://thirdworldtraveler.com/Walter_Karp/Reaction_Launched_LUS.html

PT6A
Jan 5, 2006

Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Leon Trotsky 2012 posted:

Biden says he has spoken to Jimmy Carter and revealed that:

- Carter's declining health is related to his previous cancer that had spread to his liver and brain and old age.

- Carter asked Biden to deliver his eulogy.

- Carter was likely going to die in 2015, but they found a breakthrough treatment of surgery with a new drug (pembrolizumab) and prolonged his life by another 8 years.

- However, the damage from the cancer and old age are "catching up with him" now, he had brain surgery in 2019 to relieve pressure on his brain and received further treatment.

- As he announced last month, he has stopped this treatment and entered hospice care.

https://twitter.com/mkraju/status/1635625340524544001

Carter was well before my time, but everything I hear about him makes me think he's just a really decent, nice person. The sort of person you'd want to be friends with, just doing whatever together.

plogo
Jan 20, 2009

PT6A posted:

Carter was well before my time, but everything I hear about him makes me think he's just a really decent, nice person. The sort of person you'd want to be friends with, just doing whatever together.
(i'm joking but)

https://twitter.com/PopulismUpdates/status/1393255543934910466

PT6A
Jan 5, 2006

Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

"Functional meanness" as HST describes it, to achieve good ends, is respectable. It's a corollary to the paradox of intolerance.

Alkydere
Jun 7, 2010
Capitol: A building or complex of buildings in which any legislature meets.
Capital: A city designated as a legislative seat by the government or some other authority, often the city in which the government is located; otherwise the most important city within a country or a subdivision of it.



PT6A posted:

Carter was well before my time, but everything I hear about him makes me think he's just a really decent, nice person. The sort of person you'd want to be friends with, just doing whatever together.

He's probably the most decent and nice a person can be while still also being the head of the American hegemony. I can legitimately believe he was both quietly able to be rather mean, you don't become President by being a pushover, but also way more caring than anyone else we've likely ever had in the office.

OddObserver
Apr 3, 2009

Mooseontheloose posted:

That's going to be interesting to see if this is lagging because I have seen price drops on houses in the Greater Boston area. Which granted is one small portion of the puzzle here but clearly interest rates will impact some pricing.

Their increase also seems to have slowed housing construction some, IIRC, so it may actually be counterproductive on the supply side?

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
We covered this in the thread before when Eli Lily announced, but the second biggest insulin producer is following suit in cutting their patented insulin prices.

The French pharmaceutical Sanofi is the only remaining player in the insulin production business that has not cut their prices.

As was mentioned before, this was basically inevitable after the IRA capped prices for one of the largest markets and multiple competitors are planning to release $30 to $35 insulin competitor products within the year. They haven't just realized that they could do this or developed a new method of production that dramatically reduces their costs.

https://twitter.com/WSJ/status/1635612574782717953

pork never goes bad
May 16, 2008

Leon Trotsky 2012 posted:

Housing includes rents that aren't going down much (or at all/still rising even after the big 2021 increase in some areas).

Also, the inflation measures are by definition lagging. It would be based on information from a month ago.

The way the BLS calculates CPI shelter rates means they lag new rental rates by about a full year, meaning CPI shelter rates misstate what's happening in the economy now. More to the moment measures of rental inflation (eg the CoreLogic or Zillow rent indices) are much lower than CPI shelter. Additionally, the way rental rates are used to calculate owners equivalent rent is driving core inflation and the CPI up in ways that I think remain pretty distorted.

Historically, ie when the CPI shelter definition was adopted (it currently makes up about 40% of core prices), rental rates grew slowly and stably and basically had for a generation. So the way that the CPI calculates the cost of shelter basically worked and the lag effect was not a big distortion for a good while. That's no longer true. The pandemic's disruptions drove unpredictable (or, perhaps, just unpredicted) spikes in rental rates which traditional inflation measures are still catching up to.

I'm not sure what the upshots of this are - I won't predict whether the Fed is pumping too hard or not because I just don't know - but I do know that measurements and tools which were reliable for a long time are much less so, and I'm looking forward to the hindsight is 2020 retrospectives on this episode and seeing what we can learn.

Youth Decay
Aug 18, 2015

Alkydere posted:

He's probably the most decent and nice a person can be while still also being the head of the American hegemony. I can legitimately believe he was both quietly able to be rather mean, you don't become President by being a pushover, but also way more caring than anyone else we've likely ever had in the office.

Reading John Quincy Adams' diaries he comes across as someone who genuinely cared about slavery and the rights of man and later in life terribly regretted not fighting more forcefully for abolition as President.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

pork never goes bad posted:

The way the BLS calculates CPI shelter rates means they lag new rental rates by about a full year, meaning CPI shelter rates misstate what's happening in the economy now. More to the moment measures of rental inflation (eg the CoreLogic or Zillow rent indices) are much lower than CPI shelter. Additionally, the way rental rates are used to calculate owners equivalent rent is driving core inflation and the CPI up in ways that I think remain pretty distorted.

Historically, ie when the CPI shelter definition was adopted (it currently makes up about 40% of core prices), rental rates grew slowly and stably and basically had for a generation. So the way that the CPI calculates the cost of shelter basically worked and the lag effect was not a big distortion for a good while. That's no longer true. The pandemic's disruptions drove unpredictable (or, perhaps, just unpredicted) spikes in rental rates which traditional inflation measures are still catching up to.

I'm not sure what the upshots of this are - I won't predict whether the Fed is pumping too hard or not because I just don't know - but I do know that measurements and tools which were reliable for a long time are much less so, and I'm looking forward to the hindsight is 2020 retrospectives on this episode and seeing what we can learn.

Good points and post, but tiny clarification.

Edit: Never mind, I misread something you typed and thought you were initially talking about the monthly number mentioned in the CNBC article.

Leon Trotsky 2012 fucked around with this message at 21:44 on Mar 14, 2023

selec
Sep 6, 2003

PT6A posted:

Carter was well before my time, but everything I hear about him makes me think he's just a really decent, nice person. The sort of person you'd want to be friends with, just doing whatever together.

From White Trash, on his opposition to increased benefits to miners for black lung “they chose to be miners”.

Between that and his decision to make the Persian Gulf a matter of our national security, there’s an angle where his post presidency looks like a man desperately trying to build a ladder out of hell.

plogo
Jan 20, 2009

pork never goes bad posted:

The way the BLS calculates CPI shelter rates means they lag new rental rates by about a full year, meaning CPI shelter rates misstate what's happening in the economy now. More to the moment measures of rental inflation (eg the CoreLogic or Zillow rent indices) are much lower than CPI shelter. Additionally, the way rental rates are used to calculate owners equivalent rent is driving core inflation and the CPI up in ways that I think remain pretty distorted.

Historically, ie when the CPI shelter definition was adopted (it currently makes up about 40% of core prices), rental rates grew slowly and stably and basically had for a generation. So the way that the CPI calculates the cost of shelter basically worked and the lag effect was not a big distortion for a good while. That's no longer true. The pandemic's disruptions drove unpredictable (or, perhaps, just unpredicted) spikes in rental rates which traditional inflation measures are still catching up to.

I'm not sure what the upshots of this are - I won't predict whether the Fed is pumping too hard or not because I just don't know - but I do know that measurements and tools which were reliable for a long time are much less so, and I'm looking forward to the hindsight is 2020 retrospectives on this episode and seeing what we can learn.

There is an argument that the way shelter was calculated in inflation measures was already distorting policy in a meaningful way, before all of this. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3014210 or https://www.washingtonpost.com/busi...5592_story.html

haveblue
Aug 15, 2005



Toilet Rascal
How much of food inflation is due to skyrocketing egg prices?

plogo
Jan 20, 2009

haveblue posted:

How much of food inflation is due to skyrocketing egg prices?

Eggs are 0.18% of the total basket and ~1.3% of the food basket so not much. Year over Year they contributed to inflation, but month over month they contributed to deflation because more recently egg prices have been going down.

https://www.bls.gov/news.release/cpi.t02.htm

nine-gear crow
Aug 10, 2013

Man I really hope that anecdote about Carter dog-walking Ted Kennedy is true. If it is, it's just another reason to like him even more.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

nine-gear crow posted:

Man I really hope that anecdote about Carter dog-walking Ted Kennedy is true. If it is, it's just another reason to like him even more.

Carter's hostility with congress and Kennedy believing he would cruise in a primary against Carter and easily win the Presidency since Nixon was just thrown out of office two years ago is unfortunately why we never got a universal healthcare bill passed in the 70's.

Carter was mad at congress and Kennedy didn't think Carter's bill went far enough + thought there was no reason to give him a "win" as the Democrat who finally got universal healthcare passed right before he was going to primary him, so Carter dug in and Kennedy helped tank the bill. Then, inflation, Iran, the oil embargo, and Chappaquiddick happened and that strategy turned out to be a major historical failure on both Carter and Kennedy's side. And our good friend Ronald Reagan cruised to victory in 46 states and the rest is history.

pork never goes bad
May 16, 2008

Fair clarification, Leon. I oversimplified. Though perhaps I should add a further clarification that the renters surveyed for their current rents include some folks in rent stabilized markets and on multi year leases, and so teasing out exactly when the data is from is somewhere between very difficult and impossible. My citing a year reflects the fact that the feds rate increases last March were roughly a year behind the actual increase in new rents on Zillow's index. An imperfect imprecision indeed.

plogo posted:

There is an argument that the way shelter was calculated in inflation measures was already distorting policy in a meaningful way, before all of this. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3014210 or https://www.washingtonpost.com/busi...5592_story.html

These are also fair points. I was trying to present some context from a fairly dovish but still mainstream position above because personally I'm just not close enough or familiar enough at this point to really argue hard for a specific point of view about the past. I'm inclined to follow folks like Ozimek (as an expert working on this currently) and Krugman (as a relatively expert commentator). But you're right that the entire edifice has problems, and the suggestion to use CoreLogic's or Zillow's index follows Ozimek's work explicitly.

Adbot
ADBOT LOVES YOU

aBagorn
Aug 26, 2004

Silly Burrito posted:

In a similar vein, now we’ll have boneless pork too.

https://twitter.com/washingtonpost/status/1635693798285094920

McRiblets?

is lab grown pork kosher?

is lab grown meat in general kosher?

seriously gonna ask my rabbi about this

  • 1
  • 2
  • 3
  • 4
  • 5
  • Post
  • Reply