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Yes, Biden politicized inflation data. it doesn't mean he's wrong

New York (CNN Business)Inflation was 0% or 8.5% in July. The answer is both. But leave it to the politicians to twist this basic economic fact into rhetorical ammunition.

Here's the deal: At yesterday's White House press conference, President Biden took a moment to point out that inflation, as measured by the Consumer Price Index, fell last month.

“Today we received the news that July inflation was 0% in our economy. It fell, resulting in zero inflation last month.”

That's right. From June to July, his CPI, which measures price fluctuations in baskets of commodities and services, was actually flat. It's not exactly the result of the Champagne breakout, but it's a step in the right direction.

I jumped.

Ted Cruz tweeted that it was "cruel gaslighting" from the president, pointing out that the headline CPI figure was actually him at 8.5%.

To be clear, year-over-year inflation was 8.5% for him, as widely reported by news outlets, including CNN. So, he is comparing July 2022 to July 2021, and the media usually chooses to frame their coverage this way.

But Biden didn't lie. Perhaps he has successfully picked a more optimistic number to focus on short-term improvements in spending power? of course. After all, he is a politician.

If I were one of his advisors, he might have advised me not to make too much of a percent since he only has a month. If you ask Americans what they think, they'll probably say they're still pissed and struggling to make ends meet.

As I wrote here yesterday, the consumer price index He's the only reason he's leveled off. That's because energy prices have fallen. Almost everything else went up, including food and housing.

Instead,my colleague Parija Kavilanz' report might have been pointed out to Biden, but parents should use glue, markers, pens, backpacks, etc. I'm worried if I can afford to buy the back-to-school essentials. Everything is much more expensive this year.


Biden and Republicans are both right about the data, and both miss the point.

Mr. Biden's optimism looks like Pollyanna when people are still getting paid and working, even after he admitted that "people are still suffering."

Also, the Republican party's dismissive dismissal of the 0% monthly figure is unnecessarily dismal, and all good things that happen under Biden's oversight are either real or should be celebrated.

Is it too much to admit that it's a long road, but to ask for time to pat yourself on the back?

Related: Speaking of inflation, that's what I discussed with John Surlyn at the Nightcap show today. You can catch all ofHERE


US Postal Service Peaks Holiday Season for 3rd Year in a Row From time to time, we temporarily increase the rates for our delivery services. The price increase, from 25 cents to over $6 per package, runs from October 2nd through January 22nd.


Alright, Facebook has released what it describes as the most advanced chatbot ever, an artificial intelligence powered program called BlenderBot3 . And boy, it didn't take long for it to start saying racist and plainly wrong crap.

My colleague Katherine Throbecke spent some time getting to know the bot. The bot claims it is a "live" "human" (and let me be clear, it is not). The bot says he's watching anime and has an Asian wife (also not human). It says there is "absolutely a lot of evidence" that Donald Trump is president and that the election was stolen (I can't believe I have to say this again, no, and nooooo).
BlenderBot also reported that Facebook was exploiting its users. In conversations with Insider and Wall Street Journal, Bott even presented anti-Semitic stereotypes (not repeated here).

That said, the A.I. Survey said, "It's painful to see some of these unpleasant reactions," but reiterates the importance of public demonstrations to improve conversational AI systems.

(On the one hand, I applaud transparency, but on the other hand, a company with some of the top engineers on the planet released a crappy bot and then

And while I'm here: Meta really didn't remember when this exact thing happened to Microsoft in 2015. } To turn into a fiery racist.Have our AI technologies really not improved since the Obama administration?)

I am aware of the shortcomings.

"All conversational AI chatbots are known to imitate and generate unsafe, biased, or offensive remarks at times, so we conducted extensive research and We have jointly held workshops and developed new techniques to create protections for BlenderBot 3,” the company said in a blog post last week.

But Meta also claimed that the bot was "twice as knowledgeable" as the previous bot.

When Katherine asked Bot what made her "human", Bot replied:

She pointed out the contradiction and the bot responded too humanly. truth.

Damn BlenderBot. It's dark.


BlenderBot's reply is racist, offensive and inaccurate And if it's weird, it's because the internet and humans are all about them: bots mimic the way people talk online, which makes bot brains all the more disturbing with the added conspiracy. 96}

However, one A.I. It's not the kind of innovation you'd put inside the Matrix or something like that.

"If there's one message for people, it's not to take these things too seriously," said Gary Marcus. . "These systems do not understand the world they are talking about."