Biden Inflation Costing Americans Dearly

[Rightguide]

‘Inflation Tax’ Will Cost Families This Many Thousands This Year, Bloomberg Analysis Warns​

There goes $433 a month from your family's budget...

Friday, April 1, 2022​

Another day, another alarming inflation metric. We just got the numbers for the Personal Consumption Expenditures index (PCE), the Federal Reserve’s favored inflation metric, and they’re jaw-dropping. The PCE hit a 40-year high in February, with the measured prices rising 6.4% year-over-year.

Inflation is a Policy Choice​

In the mainstream media and among progressive economists, price inflation is often portrayed as an abstract force beyond our control, like the weather. But in reality, it is directly caused by reckless government policies.

The Federal Reserve decided to “stimulate” the economy amid the pandemic by (digitally) printing trillions of new dollars out of thin air. But scarcity and trade-offs are the defining reality of economic life, so their actions had consequences. By putting trillions of new dollars out into the economy, they made the dollars Americans currently held less valuable—inflating away our savings and wealth.

https://fee.org/articles/inflation-...thousands-this-year-bloomberg-analysis-warns/

 

[Rotadom]

Is anything good happening from the Republican side, Constant Cryer?

 

[ll74]

‘Inflation Tax’ Will Cost Families This Many Thousands This Year, Bloomberg Analysis Warns​

There goes $433 a month from your family's budget...

Friday, April 1, 2022​

Another day, another alarming inflation metric. We just got the numbers for the Personal Consumption Expenditures index (PCE), the Federal Reserve’s favored inflation metric, and they’re jaw-dropping. The PCE hit a 40-year high in February, with the measured prices rising 6.4% year-over-year.

Inflation is a Policy Choice​

In the mainstream media and among progressive economists, price inflation is often portrayed as an abstract force beyond our control, like the weather. But in reality, it is directly caused by reckless government policies.

The Federal Reserve decided to “stimulate” the economy amid the pandemic by (digitally) printing trillions of new dollars out of thin air. But scarcity and trade-offs are the defining reality of economic life, so their actions had consequences. By putting trillions of new dollars out into the economy, they made the dollars Americans currently held less valuable—inflating away our savings and wealth.

https://fee.org/articles/inflation-...thousands-this-year-bloomberg-analysis-warns/

If it's a government choice, then other governments won't have this problem.

 

[Sean Renaud]

Yeah the inflation sitch is pretty screwed up and we all wish there was an easy fix but there doesn't appear to be one. Inflation is however something that is similar to the weather I suppose. I mean sure we can affect it to varying degrees but it does just happen all on its own. We should really be worried about deflation anyhow.

 

[jomar]

Good thing everyone who wants a job has one then.

 

[Sean Renaud]

No, not everyone who wants one has one. But then umbers are getting far enough up there that people are willing to risk the jobs they have unionizing.

 

[jomar]

I know. It was an RG poke. You know how it goes.

 

[pecksniff]

The inflation is global, not "Biden's."

 

[Champakian]

Is anything good happening from the Republican side, Constant Cryer?

*chuckle*

They hold which branch of government again?

Trump hate put the Left Wing voting in charge and large and now you pay the price...
__________________________________________
Democrat born. Democrat bred. Libertarian led (by Democrats).

 

[Champakian]

The inflation is global, not "Biden's."

B-b-b-ut...

He's the leader of the "free" world, his "New World Order..."

 

[Champakian]

Good thing everyone who wants a job has one then.

Yeah, a Democrat finds themselves with three part-time burger-flipping jobs.

 

[Chobham]

The inflation is global, not "Biden's."

The US dollar is the world reserve currency. The effect of any change in the value of the dollar is felt globally, always has been.

 

[Champakian]

Not to mention how much glow ball inflation has been going on in the Left's dystopian strongholds...


... even under Trump when we didn't need their oil.

 

[Rightguide]

Good thing everyone who wants a job has one then.

It's quite obvious there are millions who don't want to work because they are getting paid by Democrats to stay home.

 

[Rightguide]

I know. It was an RG poke. You know how it goes.

I know. It was an RG poke. You know how it goes.

Another personal failure on your part.

 

[ll74]

Not to mention how much glow ball inflation has been going on in the Left's dystopian strongholds...


... even under Trump when we didn't need their oil.

We're still producing more oil than we consume. That hasn't change with Biden (it did briefly drop net negative, but is back up to positive)

 

[LukSkyFokker]

Another personal failure on your part.

As your stupid ass double-quotes like a mongoloid.

 

[WillJ8787]

Is anything good happening from the Republican side, Constant Cryer?

Yep...I wonder what "Biden inflation" is....must be defined somewhere? Maybe the urban crackhead dictionary.

 

[jomar]

As your stupid ass double-quotes like a mongoloid.

Yeah that was funny given his "failure" dig.

 

[pecksniff]

B-b-b-ut...

He's the leader of the "free" world, his "New World Order..."

GHWB's New World Order.

 

[ll74]

B-b-b-ut...

He's the leader of the "free" world, his "New World Order..."

He's not the leader of each government

 

[Chernosoth]

The US dollar is the world reserve currency. The effect of any change in the value of the dollar is felt globally, always has been.

That is ending now, since the US pushed most of Asia and Europe to trade in rubles and yuan for fuel.

 

[njlauren]

Yeah, we know what the GOP plan to handle inflation was, fuck up handling a pandemic and you have deflation *sigh*. Inflation is global and it has nothing to do with the dollar being the world reserve currency, other countries hold dollars because they are needed in trade on the world stage and they hold onto them because they feel the dollar is stable ie isn't manipulated like the Yuan or is put out by a corrupt regime (Russia) . Even the Eurodollar couldn't break that.

And yes, inflation is happening globally, the claim it is all printing dollars is all great and good, but the real problem is global. How do I know? If inflation was US only, the dollar would have lost ground against other currencies, I mean big team but look at the exchange rates, it is within the same range it has been. The pound is like 1.31 dollars, the Euro is 1.10 dollars and it has been that way a long time. If it was because the US was printing money (or more accurately, borrowing it in the form of T bills), the dollar should have been shellacked, which would of course cause inflation; but it hasn't.

The reason inflation is happening is classical economics, we came out of a recession caused by the pandemic, we now have record low unemployment,lower than it was under Trump, (I love the GQP tart who claimed unemployment was at a 40 year high, I am sure her audience believed that too). More importantly, thanks to the pandemic, people who were working weren't spending it, either with concerns about their jobs or because they weren't doing the things they normally did, going out to eat, movie, theater, sports, you name it..... and with low unemployment, you also have something else, employees are refusing to let employers decide what to pay them, employers are *gasp* actually having to compete for employees (funny how the 'free market' is only good when it benefits employers, where they can pick and choose, the GQP wet dream).

You add up money there, fueling demand, and then have a supply chain that is completely fucked up still (yes, you globalization promoters, you couldn't figure out global supply chains to a third world country that couldn't figure out how to handle a pandemic was not a good thing). I was just shopping around for a new dishwasher, and on the websites the companies are saying they have an 8 to 12 month backlog; car manufacturers are still working with shortages of parts so cars are relatively scarce and selling for above MSRP, the food chain is being hit for much the same way...and now we have the Ukraine conflict, which is causing problems (yeah, I know, if Donnie was in the white house, no problem, he woudl have called Putin and said "Puttie old boy, be my guest, have fun"). And this is hitting every country in the world. Gas prices? In England it was approaching 10/gallon, same in other countries. Same with food, manufactured goods, they are all seeing high inflation for the same reasons.

You don't shut down the world in a pandemic, you don't have where lke 90% of the shit is made in china and have them still struggling with Covid, and not have problems.

And if the GQP was in power? You would have inflation, because they can't snap their fingers and say "no price hikes", they can't say "we can make everything we need here" and do it overnight. Want to know what the GOP would do, I can almost guarantee it? Try to promote income tax cuts (which is the absolutely stupidest thing you can do with inflation) or they would call for a freeze on wages, the way Tricky Dick tried in the 70's (but not on prices).

 

[Fermina_Daza]

GHWB's New World Order.

Is this anything like Prince’s New Power Generation?

 

[icanhelp1]

Yeah, we know what the GOP plan to handle inflation was, fuck up handling a pandemic and you have deflation *sigh*. Inflation is global and it has nothing to do with the dollar being the world reserve currency, other countries hold dollars because they are needed in trade on the world stage and they hold onto them because they feel the dollar is stable ie isn't manipulated like the Yuan or is put out by a corrupt regime (Russia) . Even the Eurodollar couldn't break that.

And yes, inflation is happening globally, the claim it is all printing dollars is all great and good, but the real problem is global. How do I know? If inflation was US only, the dollar would have lost ground against other currencies, I mean big team but look at the exchange rates, it is within the same range it has been. The pound is like 1.31 dollars, the Euro is 1.10 dollars and it has been that way a long time. If it was because the US was printing money (or more accurately, borrowing it in the form of T bills), the dollar should have been shellacked, which would of course cause inflation; but it hasn't.

The reason inflation is happening is classical economics, we came out of a recession caused by the pandemic, we now have record low unemployment,lower than it was under Trump, (I love the GQP tart who claimed unemployment was at a 40 year high, I am sure her audience believed that too). More importantly, thanks to the pandemic, people who were working weren't spending it, either with concerns about their jobs or because they weren't doing the things they normally did, going out to eat, movie, theater, sports, you name it..... and with low unemployment, you also have something else, employees are refusing to let employers decide what to pay them, employers are *gasp* actually having to compete for employees (funny how the 'free market' is only good when it benefits employers, where they can pick and choose, the GQP wet dream).

You add up money there, fueling demand, and then have a supply chain that is completely fucked up still (yes, you globalization promoters, you couldn't figure out global supply chains to a third world country that couldn't figure out how to handle a pandemic was not a good thing). I was just shopping around for a new dishwasher, and on the websites the companies are saying they have an 8 to 12 month backlog; car manufacturers are still working with shortages of parts so cars are relatively scarce and selling for above MSRP, the food chain is being hit for much the same way...and now we have the Ukraine conflict, which is causing problems (yeah, I know, if Donnie was in the white house, no problem, he woudl have called Putin and said "Puttie old boy, be my guest, have fun"). And this is hitting every country in the world. Gas prices? In England it was approaching 10/gallon, same in other countries. Same with food, manufactured goods, they are all seeing high inflation for the same reasons.

You don't shut down the world in a pandemic, you don't have where lke 90% of the shit is made in china and have them still struggling with Covid, and not have problems.

And if the GQP was in power? You would have inflation, because they can't snap their fingers and say "no price hikes", they can't say "we can make everything we need here" and do it overnight. Want to know what the GOP would do, I can almost guarantee it? Try to promote income tax cuts (which is the absolutely stupidest thing you can do with inflation) or they would call for a freeze on wages, the way Tricky Dick tried in the 70's (but not on prices).

Here's what I'm hoping for:

A VACCINE FOR TDS

What is GQP?

You could have said inflation exist because there is a greater demand for product while a clusterf@@K exist within the global supply chain which is also exacerbated by soaring energy cost and higher prices at the pump.