President Joe Biden - Kamala Harris Administration

[utvolpj]

You gotta learn to stop worrying and love the bomb.

Why governments should keep spending, and stop worrying about inflation | Leah Downey

So that's funny plus it stomps on your basic economic principle you quoted earlier. Which one is it exactly?

 

[utvolpj]

It only happened when the current clown threw more than the prior clown. I don’t accept your assertion that 5+% inflation was coming. We normally try to run 1-2%. And deflation is a freaking horrible outcome.

Trump promised to spend even more if reelected. Based on that and supply issues it was coming. Whether it's transitory as the fed wants to claim remains to be seen

 

[KB5252]

Basic economic theory Einstein.

Is inflation caused by economic growth? - Economics Help

Typically, higher inflation is caused by strong economic growth. If Aggregate Demand (AD) in an economy expands faster than aggregate supply, we would expect to see a higher inflation rate. If demand is rising faster than supply this suggests that economic growth is higher than the long run sustainable rate of growth.

The problem with your assertion is that the issue is supply, caused by shortages of commodities due to shutdowns. Which we are seeing starting to happen again world wide. Those shortages in many industries really came to a head in the last three months.

Inflation in this case isn't a good indicator for a strong economy, in fact quite the opposite. It's an indicator of an economy on the edge of a bubble that was partially man, and partially pandemic made. It's a lagging indicator that will only get worse in the coming months.

 

[SpaceCoastVol]

Biden 'checking' if he has power to intervene against Florida and Texas mask mandate bans

And remember, Trump was a dictator

 

[SpaceCoastVol]

There's been plenty handed out by both sides. This isn't just a Biden problem

It is now.

 

[evillawyer]

In one page you managed to blame inflation on a "hot" economy and then advocate more government spending to keep the economy "hot" only to conclude inflation will work itself out.

(1) A hot economy usually leads to increased inflation, for the reason given. That is true.
(2) I do believe the government should keep spending. I did not say they should do so to "keep" the economy hot.
(3) I do believe a good chunk (but not all) of the inflation we're seeing is transitory (such as with used cars and travel).

Government spending does not have the effect on inflation that you think it does: How Does Government Spending Affect Inflation?

 

[evillawyer]

For all the chicken little's claiming the sky is falling
https://www.cnbc.com/2021/08/11/cpi-report-july-2021.html

 

[NorthDallas40]

Trump promised to spend even more if reelected. Based on that and supply issues it was coming. Whether it's transitory as the fed wants to claim remains to be seen

I thought Trump lied all the time though?!

Powell is already throttling back on the transitory rhetoric as I’d guess he doesn’t want to look any more like an idiot clown that he already is by supporting it thus far. If Biden replaces him with a shill we are totally sunk.

 

[AM64]

Trump promised to spend even more if reelected. Based on that and supply issues it was coming. Whether it's transitory as the fed wants to claim remains to be seen

Remember that spending money supposedly for constituents is how politicians get elected. They have to out promise the other guy. This comes from an electorate who want more, and people who will deliver more to get or stay in office. There are a few things we can do, but none are real cures for the problem of "free money". First you have to end the graft - NIL politician style - no money for appearances, books, handshakes, etc; you have to end campaign finances and go to publicly funded elections; you have to impose term limits; and you have to rewrite rules on legislation - one bill - one topic - no addons. Consider what has to be done and who would make the changes, and you quickly realize "it ain't happening".

 

[Orangeburst]

87k new IRS agents
And could not even find Trump guilty

 

[VolnJC]

Crushing it!
Core CPI Slows As Soaring Used Car & Rent Costs Decelerate | ZeroHedge

 

[VolnJC]

Think this is the worst yet for Biden -16

 

[volinbham]

(1) A hot economy usually leads to increased inflation, for the reason given. That is true.
(2) I do believe the government should keep spending. I did not say they should do so to "keep" the economy hot.
(3) I do believe a good chunk (but not all) of the inflation we're seeing is transitory (such as with used cars and travel).

Government spending does not have the effect on inflation that you think it does: How Does Government Spending Affect Inflation?

Yet 2 leads to 1 which leads to 3. Even Joe claims 2 leads to 1.

 

[volinbham]

Meanwhile in Joe "Urkel" Biden at it again

Biden team is seeking ways to address rising energy prices

 

[volinbham]

For all the chicken little's claiming the sky is falling
https://www.cnbc.com/2021/08/11/cpi-report-july-2021.html

No one has said the sky is falling; just that inflation is reducing the spending power of everyone including the poor and middle class.

Real wages are down under Biden - people are getting relatively poorer since he took office.

 

[NorthDallas40]

Yet 2 leads to 1 which leads to 3. Even Joe claims 2 leads to 1.

Oh you’ve done it now. Again.

 

[NorthDallas40]

Meanwhile in Joe "Urkel" Biden at it again

Biden team is seeking ways to address rising energy prices

To quote the dementia patient.

“I want to make sure that nothing stands in the way of oil price declines leading to lower gas prices for consumers,” Biden added.

The moron is too stupid to see that HIS POLICIES are what is standing in the way of oil price declines FFS!

 

[RavinDave]

In one page you managed to blame inflation on a "hot" economy and then advocate more government spending to keep the economy "hot" only to conclude inflation will work itself out.

Pretzel logic

 

[RavinDave]

To quote the dementia patient.

The moron is too stupid to see that HIS POLICIES are what is standing in the way of oil price declines FFS!

His utterances are basically meaningless, just platitudes for the masses.

 

[evillawyer]

No one has said the sky is falling; just that inflation is reducing the spending power of everyone including the poor and middle class.

Real wages are down under Biden - people are getting relatively poorer since he took office.

Yes and no. Agreed that real wages are down based on total inflation. But a large portion of the inflation bump was found in with items that not everyone was buying (used cars, vacations, airfare, etc.).

Also, you gotta look at WHERE the wages are increasing the most. Most of the wage bump has been in lower paying jobs.

Here's where wages are rising the most as employers address labor shortages

 

[AM64]

To quote the dementia patient.

The moron is too stupid to see that HIS POLICIES are what is standing in the way of oil price declines FFS!

Joe isn't pulling the strings and those aren't his policies - if he was actually the one setting the agenda, his naps would make things better. Only government can really screw up what free markets manage to untangle; we'd be a lot better with a complete moratorium on government action right now - send them home - all of them - for about a year of economic healing.

 

[AM64]

Pretzel logic

Yeah, but according to EL market prices for lumber are dropping so precipitously that soon places like Lowes will be paying us to come get wood and haul it away.

 

[hog88]

Yes and no. Agreed that real wages are down based on total inflation. But a large portion of the inflation bump was found in with items that not everyone was buying (used cars, vacations, airfare, etc.).

Inflation is touching everything, we have to raise rates twice this year already because of fuel costs and increases from our vendors. We are a dead expense to our clients, no way to recoup that cost but they have to have the work done. That eventually gets passed down to the consumer.

 

[evillawyer]

Inflation is touching everything, we have to raise rates twice this year already because of fuel costs and increases from our vendors. We are a dead expense to our clients, no way to recoup that cost but they have to have the work done. That eventually gets passed down to the consumer.

Things like gas prices and food prices touch everybody. My point, though, was that some of the primary drivers of inflation do not impact everybody. Similarly, the jobs with the greatest increase in wages were the ones paying the lowest. Accordingly, the wage increases seen for those working in retail and hospitality outstrips the increase in costs that they have seen.

 

[C-south]

Things like gas prices and food prices touch everybody. My point, though, was that some of the primary drivers of inflation do not impact everybody. Similarly, the jobs with the greatest increase in wages were the ones paying the lowest. Accordingly, the wage increases seen for those working in retail and hospitality outstrips the increase in costs that they have seen.

Lol. I can only imagine what type of pay increases they’ll see going forward if at all. When things get back to the “norm” there will be massive layoffs and companies dumping all kinds of benefits for the employees they do keep.