Be careful when you mock others, saying that someone else 'can't math', and that they 'don't understand compound interest' -- when your example displays the same error that you mock.
A 7% increase, over 11 consecutive months is not 'roughly 77%'. That would be 'adding' interests. Processing the 'compound interest' translates to 210%.
My point was it's not 7% like every one is saying. You have to add it up. I didn't actually do the math and knew it was much, much higher. I was being lazy. 77% or 210%. It's not 7%.
Its not about just adding it up, his point is that you should be mocked equally for not understanding compound interest. good way to get your arguments disregarded if you ever have to explain it to somebody
I understand compound interest. Like I said, I was being lazy. If you want to mock me for that be my guest. I never gave an exact number. I admitted I was wrong. But go ahead and have fun.
Edit: Just for shits and giggles.
1st Quarter: 100.00 + 7% = 107
2nd Quarter: 107.00 + 7% = 114.49
3rd Quarter: 114.49 + 7% = 122.50
4th Quarter: 122.50 + 7% = 131.07
5th Quarter: 131.07 + 7% = 140.24
6th Quarter: 140.24 + 7% = 150.06
7th Quarter: 150.06 + 7% = 160.56
8th Quarter: 160.56 + 7% = 171.80
9th Quarter: 171.80 + 7% = 183.83
10th Quarter: 183.83 + 7% = 196.70
11th Quarter: 196.70 + 7% = 210.46
100% of Biden's economy plus 110% increase. My guess was 177% of the original economy versus the actual number of 210%. Assuming it was a 7% increase each quarter which I'm sure it wasn't. I'm also too lazy to look up the actual numbers. Go ahead and mock away. I'll take my medicine.
Edit #2: If I made any mistakes it's because I'm still half asleep. But there you go.
It also completely doesn't describe inflation over the past several years.
This is a confusing of an annual inflation rate and a quarterly inflation rate.
February 2021 is the first full month of the Biden Administration
The Consumer Price Index (CPI-U) was 263.014. The latest number is from August, it's 307.026
To get the percentage increase, you divide the 307 by the 263 which gives you 1.167. This is a 16.7% increase it's not 210% .
This is a 16.7% increase happened over 30 months. That's a less than 2% quarterly inflation rate. It's 1.67% quarterly inflation rate.
If you use the CPI-W the numbers are very similar
This 17.0% increase happened over 30 months. That's a less than 2% quarterly inflation rate. It's 1.70% quarterly inflation rate.
Feel free to check my math. But when they say inflation was up 5% last quarter......the comparison is to the same time last year (4 full quarters). It's not a 5% increase from last quarter.
You may very well be correct (assuming, of course, that the CPI numbers aren't manipulated).
I was responding solely to the mathematics offered in the preceding post - and (FWIW) I wasn't intending to 'mock' anyone, I was simply suggesting that it's not prudent to mock when your own argument is lacking (in the same topic).
To his credit, the poster graciously accepted his mistake, and then proved his proficiency with a later post.
That depends on who does the calculation. If you still believe government figures, then you are in the wrong corner of the Internet.
Anyone who is paying attention knows for certain that many items have doubled (or more than doubled) in the past two years. From the common: 'What's your local gas price?' To the not-so-common: 'Have you priced recharging an A/C unit lately?'
You've only been on this site for 16 days, which means you might be a disruptive type. I no have idea if that's the case...
But if you truly think that the inflation rate is 'business as usual', you are flat-out blind.
Be careful when you mock others, saying that someone else 'can't math', and that they 'don't understand compound interest' -- when your example displays the same error that you mock.
A 7% increase, over 11 consecutive months is not 'roughly 77%'. That would be 'adding' interests. Processing the 'compound interest' translates to 210%.
My point was it's not 7% like every one is saying. You have to add it up. I didn't actually do the math and knew it was much, much higher. I was being lazy. 77% or 210%. It's not 7%.
Its not about just adding it up, his point is that you should be mocked equally for not understanding compound interest. good way to get your arguments disregarded if you ever have to explain it to somebody
I understand compound interest. Like I said, I was being lazy. If you want to mock me for that be my guest. I never gave an exact number. I admitted I was wrong. But go ahead and have fun.
Edit: Just for shits and giggles.
1st Quarter: 100.00 + 7% = 107
2nd Quarter: 107.00 + 7% = 114.49
3rd Quarter: 114.49 + 7% = 122.50
4th Quarter: 122.50 + 7% = 131.07
5th Quarter: 131.07 + 7% = 140.24
6th Quarter: 140.24 + 7% = 150.06
7th Quarter: 150.06 + 7% = 160.56
8th Quarter: 160.56 + 7% = 171.80
9th Quarter: 171.80 + 7% = 183.83
10th Quarter: 183.83 + 7% = 196.70
11th Quarter: 196.70 + 7% = 210.46
100% of Biden's economy plus 110% increase. My guess was 177% of the original economy versus the actual number of 210%. Assuming it was a 7% increase each quarter which I'm sure it wasn't. I'm also too lazy to look up the actual numbers. Go ahead and mock away. I'll take my medicine.
Edit #2: If I made any mistakes it's because I'm still half asleep. But there you go.
This is not what has happened in the US.
You're confusing annual rates and quarterly rates.
It also completely doesn't describe inflation over the past several years.
This is a confusing of an annual inflation rate and a quarterly inflation rate.
February 2021 is the first full month of the Biden Administration
The Consumer Price Index (CPI-U) was 263.014. The latest number is from August, it's 307.026 To get the percentage increase, you divide the 307 by the 263 which gives you 1.167. This is a 16.7% increase it's not 210% .
This is a 16.7% increase happened over 30 months. That's a less than 2% quarterly inflation rate. It's 1.67% quarterly inflation rate.
If you use the CPI-W the numbers are very similar This 17.0% increase happened over 30 months. That's a less than 2% quarterly inflation rate. It's 1.70% quarterly inflation rate.
Feel free to check my math. But when they say inflation was up 5% last quarter......the comparison is to the same time last year (4 full quarters). It's not a 5% increase from last quarter.
You may very well be correct (assuming, of course, that the CPI numbers aren't manipulated).
I was responding solely to the mathematics offered in the preceding post - and (FWIW) I wasn't intending to 'mock' anyone, I was simply suggesting that it's not prudent to mock when your own argument is lacking (in the same topic).
To his credit, the poster graciously accepted his mistake, and then proved his proficiency with a later post.
But the mathematics were also wrong, because what he was describing was an annual inflation rate of 28%.
A rate the US has never reached.
Once the math reached 200%.......we should be able to check that vs reality.
That depends on who does the calculation. If you still believe government figures, then you are in the wrong corner of the Internet.
Anyone who is paying attention knows for certain that many items have doubled (or more than doubled) in the past two years. From the common: 'What's your local gas price?' To the not-so-common: 'Have you priced recharging an A/C unit lately?'
You've only been on this site for 16 days, which means you might be a disruptive type. I no have idea if that's the case...
But if you truly think that the inflation rate is 'business as usual', you are flat-out blind.