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If you are an American, how are you preparing for the upcoming tariffs and possible trade war? (lemm.ee)
submitted 2 years ago by to c/asklemmy@lemmy.ml
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What impact do you think it will have on you?

Are there critical items to purchase now that will be too expensive to afford next year?

Are you changing your savings or investments?

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[–] 83 points 2 years ago (9 children)

Somebody should make a website that tracks prices on goods and other items from the day Trump becomes president and throughout his term.

He said he would lower prices. His politics says the opposite. Let's see.

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  • [–] [S] 24 points 2 years ago (5 children)

    That’s the Consumer Price Index.

    There’s also the related Producer Price Index which unfortunately does not include tariffs but will be interesting to watch.

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  • [–] 9 points 2 years ago (2 children)

    If you think government metrics during trumps presidency will be accurate, i have a bridge to sell you.

    Most .gov websites are essentially useless the moment trump takes the throne.

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  • [–] [S] 10 points 2 years ago

    The CPI is a key economic indicator. It’s unlikely that banks and markets would tolerate that kind of meddling.

    But, if the CPI was changed for political reasons, there are other similar stats.

    In plain language: Wall Street can make or lose billions of dollars based on correctly/incorrectly forecasting this stat, so you can bet your ass they have accurate data. Some of it is private; some is available to paying customers. Even if the data is not public, it is often publicly characterized, for example, in economic forecasts and in publications like The Economist.

    Some examples of alternative CPI sources are: PriceStats and The Economist’s Intelligence Unit. Both require paid access.

    Be aware that freely-available stats may be published with political agendas, by Fox News conspiracy theorists, etc.

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  • [–] 0 points 2 years ago

    Far better would be something like:

    • Go to grocery store
    • Photograph the shelves in PriceHive app
    • AI scans the images, detecting products and reading prices from the price tags
    • Each is stored into a database as a price on a good at a location at a timestamp

    After data pool is established from many users (or even just one):

    • Go to grocery store
    • Open PriceHive app
    • Hold a product in the viewfinder
    • AI identifies product
    • app shows price history across time/locations

    That kind of shit needs to be built. Government will probably find some way to make it illegal, but whatever.

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