SugarDaddy1
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Everybody except Democrats sees inflation as the big issue
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Veroe
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I'm not sure who you're talking about. Unless something huge happens between now and election day It's going to be the main issue and it's going to seriously fuck the democrats' chances in the midterms.
But to me I'm a big guy on results first and foremost. Who's to blame is one thing and what are you going to do about it is more important to me. Other than using this to cudgel democrats for the midterms the republicans haven't convinced me they have any plan to solve the inflation problem, and I'm really pissed with the media for not pressing them on their plans.
So far the only thing in terms of plans I've seen is letting oil companies drill more...and that's where they leave it. No how soon will that help gas prices lower. Nothing about whether our oil production facilities are equipped to handle processing the increase in oil supply to lower gas prices any time soon. Nothing about how they can get the saudis to increase more oil supply to lower prices on their end. I've seen no plans from them how to stock shelves with baby formula either for that matter.
If they do have plans their doing a piss-poor job messaging it for the only thing about I heard from them is "It's Biden's fault."
But to me I'm a big guy on results first and foremost. Who's to blame is one thing and what are you going to do about it is more important to me. Other than using this to cudgel democrats for the midterms the republicans haven't convinced me they have any plan to solve the inflation problem, and I'm really pissed with the media for not pressing them on their plans.
So far the only thing in terms of plans I've seen is letting oil companies drill more...and that's where they leave it. No how soon will that help gas prices lower. Nothing about whether our oil production facilities are equipped to handle processing the increase in oil supply to lower gas prices any time soon. Nothing about how they can get the saudis to increase more oil supply to lower prices on their end. I've seen no plans from them how to stock shelves with baby formula either for that matter.
If they do have plans their doing a piss-poor job messaging it for the only thing about I heard from them is "It's Biden's fault."
What do you expect? They've been nothing but a party of obstruction since 1994.
BabyBoomer50s
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Blaming businesses for inflation isn’t going to improve Democrats chances in November but that seems to be the path they’re taking.
Veroe
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Yeah, not a very effective tactic, but what do you suggest the Republicans do if they take back the house and senate about it though?
BabyBoomer50s
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I’m afraid inflation is going to be with us for a long time. Trillions upon trillions of federal spending, years of QE, MMT cannot be unwound by congressional action. The Republicans have already helped stem the hemorrhaging by killing BBB and they should continue to thwart the progressives tax and spend instincts, but I see no legislative quick fix turnaround. Just some tactical things. Fed policy plays a bigger role now.
The president needs to instill confidence in his administration by demonstrating he understands the problem. He should not have insisted that inflation is “transitory”, and he should stop blaming it on Putin, Covid, businesses, MAGA, or telling people the answer lies in EVs, solar, wind etc. The WH is acting clueless, probably because they are. He has a terrible team.
Sean Renaud
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What precisely is a long time? I get that you're still the new kid on the block here and for whatever reason you think you're hot shit but you're not. We have very, very long memories on Lit especially the Libs and if you start checking our join dates many of us have been here for decades. Now a few us took the Trump years off to honor a bet that not all of us even officially signed on for like myself. But I still honored it because as a liberal I have been taught to conduct myself as a gentlemen.
So is a long time through the end of the year? Through the end of the administration? (Assuming it ends in 2024?) Longer. We deal in facts here not fiction and as a general rule not insults from the left though we do bite back. Inquiring minds want your over under.
I'll happily start a thread stating its 'my bad' if inflation hasn't dropped by years end. I'll even say the low end is high fives and I'm not expecting that. I expect mid sevens.
Biden should absolutely not stop telling people that inflation is Putin, Covid, Businesses and MAGA. Those would be lies. We KNOW that the "end" of Covid and KNEW in advance it would kick off inflation, just as it has globally. People who were not traveling at all are now back on cruises, flying around the world, flying to see family they haven't seen in more than two years, going out to eat, going to Disneyland/World, Six Flags and whatever else you guys have. I have Knott's Berry Farm and Six Flags Magic Mountain some zoos, blah blah. I'm gonna go on a bloody tour once I have enough vaca time to rock it.
We know oil prices in '08 were 180+ a barrel for a minute and now are a mere 120. Gas prices weren't this high then. Why? Gauging. Pretending that the oligarch overclass is not fucking us left and right is to play into their game and this goes on almost everything but lets stick with the official narrative. I don't want to lose any of you.
Nobody counted on Putin doing what he actually did. We all assumed it was a really big bluff. Our bust.
Only because the American people are very allergic to simple facts. We do know where the inflation is coming from but even after twenty years of showing exactly why most stuff isn't really the current presidents fault one way or the other we still act dumb.
This is speaking of the political class, but even the Left-wing economists are sounding the alarm.
You can ignore reality, but you cannot ignore the results of ignoring reality.
Try tell Joe and Mary Lunchbucket that there's no inflation.
Try telling those on a fixed income, there's no inflation.
Try telling people whose retirement is melting away.
Here's the deal, those insulated from inflation
because they can demand more money
for their services (not goods),
don't care about it...
Political gains.
__________________________________________
Democrat born. Democrat bred. Libertarian led (by Democrats).
I note that that Steve shill for MMT has gotten awfully quite over on the GB.
He had to be a paid shill for some branch of government.
(Or maybe actual Russian disinformation.)
__________________________________________
Democrat born. Democrat bred. Libertarian led (by Democrats).
BabyBoomer50s
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Congrats on your dedication to this site. I guess. I expect inflation to continue substantially exceeding the Feds long-standing goal of 2% for several years at least. I doubt it will drop below 4% in 2 or more consecutive quarters during the remainder of this administration.
HisArpy
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Did you notice how he went from "what is a long time?" to chest thumping about how long he's been here, all the sacrifices he's made to not be here during the Trump Presidency, to being a gentleman who unjustly smeared your reputation while completely self absorbed in blowing smoke up his own ass?
It was very masterful bullshit.
LukSkyFokker
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That's only because you innumerates don't understand how the economy works.
BabyBoomer50s
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Yeah, I did notice. I guess we should thank him for his service. Lol.
HisArpy
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I actually figured you would notice. It was after all, a huge display of Litsculinity complete with trumpets, balloons, and party favors.
You do have to give him some credit though, he stopped short of having a ticker-tape parade for himself.
MrRandyWatson
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Inflation is an issue, sure, but it’s temporary and fixable. What needs to happen is for wages to fucking catch up to where they should actually be. Enough with people being priced out of goddamn everything.
People’s rights being in danger is much more long-term.
Also, fuck Putin.
People’s rights being in danger is much more long-term.
Also, fuck Putin.
One root cause of inflation in the United States: Free Money.
Who loves free money? Well, there have been three economic impact payments over the last two years: The first one authorised in March of 2020. The second one in late 2020, and a third one in 2021.
I will NOT remind people of who was in charge when the first two payments were authorized (it wasn't Biden, and that's besides the point) but the point is- free money is nice, BUT...the more money there is floating around, the less it becomes worth, as people who sell things want more of it.
And, free money is of less use when there is less stuff available to buy. People charge more for things when there is less supply, and hence demand (and prices) go up.
So...both of these things are a factor. Increase the supply of goods, facilitate the production and flow of goods, supply goes up, demand goes down. Scrap the "Free money" idea as the drawbacks have now become apparent. These are some tools available that the current government can use. These are not the only tools, and the factors discussed above are not the only factors leading to the current economic issue.
Who loves free money? Well, there have been three economic impact payments over the last two years: The first one authorised in March of 2020. The second one in late 2020, and a third one in 2021.
I will NOT remind people of who was in charge when the first two payments were authorized (it wasn't Biden, and that's besides the point) but the point is- free money is nice, BUT...the more money there is floating around, the less it becomes worth, as people who sell things want more of it.
And, free money is of less use when there is less stuff available to buy. People charge more for things when there is less supply, and hence demand (and prices) go up.
So...both of these things are a factor. Increase the supply of goods, facilitate the production and flow of goods, supply goes up, demand goes down. Scrap the "Free money" idea as the drawbacks have now become apparent. These are some tools available that the current government can use. These are not the only tools, and the factors discussed above are not the only factors leading to the current economic issue.
Everyone drawing Social Security.
JohnEngelman
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The inflation of the 1970's was caused by increases in the world price of petroleum. These increases in turn were caused by the OPEC Oil Boycott of 1973 and the Iranian Revolution of 1979. Republicans did not want to acknowledge this because they did not want to admit that American dependence on automobile transportation is a national problem and they did not want to believe that foreigners they disliked had considerable control over the U.S. economy.
Instead they blamed Keynesian economic policies. They never liked Keynesian policies because they shifted wealth, power, and prestige from the business community to the government. Keynesian economic policies had been designed to fix the different problems of the Great Depression. The Great Depression was not caused by the shortage of a natural resource that was essential to the U.S. economy. Also, during the Great Depression the problem was not inflation, but deflation.
Current inflation has been caused by decades of deficit spending caused by decades of Republican tax cuts for the rich and increases in military spending. If the GOP does well in the next two elections there will be more tax cuts for the rich and more increases in military spending.
Instead they blamed Keynesian economic policies. They never liked Keynesian policies because they shifted wealth, power, and prestige from the business community to the government. Keynesian economic policies had been designed to fix the different problems of the Great Depression. The Great Depression was not caused by the shortage of a natural resource that was essential to the U.S. economy. Also, during the Great Depression the problem was not inflation, but deflation.
Current inflation has been caused by decades of deficit spending caused by decades of Republican tax cuts for the rich and increases in military spending. If the GOP does well in the next two elections there will be more tax cuts for the rich and more increases in military spending.
Still not hearing it.
I repeat.
ll74
Your Best Friend
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You miss the point of the thread. It's not about determining the proper cause....it's about who gets the blame in the political arena. It's the majority party...no matter whether they caused anything
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