Feeling Biden's inflation yet? - Politics Forum.org | PoFo

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#15227827
Are you feeling Biden's inflation yet?
There are many people suffering under it. The inflation is inflicting extra suffering than people would otherwise be experiencing. Not everyone in society has lots of money to easily be able to afford price increases.

Democrats are in DENIAL that Democrat policies are to blame.
If all this inflation really is just caused by temporary supply chain issues, as is claimed, then shouldn't we see prices begin to drop back down soon?
China and India are beginning to buy oil from Russia, which should cause oil prices on the world market to drop back down.

I suppose that will be the test, won't it? If prices drop back down to what they were, then we will know that the inflation was just caused by supply chain issues. If, on the other hand, they don't, if prices don't start falling back anywhere near what they were, then we will know for certain that this inflation was caused by an increase in the amount of money the government has printed.

And why are there so many on the Left who pretend rising prices don't really matter, that all the focus should just be on raising worker wages? (I suppose the difference between Supply-side and Demand-side economics)
You do realize that even if wages rise, that itself will contribute to higher inflation, and wages will have to rise again to compensate? (This will happen until they finally settle at some point, but by that time the inflation rate will have risen some more, even after the original cause. Unfortunately what we are seeing is the inflation rate continuing to increase faster than wages, so that cannot be the explanation for what is happening)

The government seems to just want to print themselves more money to spend, because actually trying to increase taxes to pay for all this extra spending would be political suicide. Inflation is like an "invisible tax", harder to see what's actually going on.

Inflation also makes the debt easier to pay down in the very near short-term, but much harder to pay down in the long-term when interest rates shoot up in response to worries about inflation. (Were interest rates to shoot back up to the historical average level of 5%, then 23% of the government's revenue would be consumed just paying interest payments to service the national debt) So once again the current government seems to be trying to kick the can down the road to the next government, refusing to take responsibility now and let them worry about it.
#15227931
The economy is going great guns. Inflation is always a problem. You're just another whiny Trump-lover. :lol:


The American Economy And The ‘Biden Boom’
Biden told us “Our economy grew at a rate of 5.7% last year, the strongest growth in nearly 40 years.” Recent data show applications to start new small businesses shot up in 2021, not only rebounding from the pandemic but “up about 30 percent compared to before the pandemic” and well above the trend of the past decade.

What about jobs and unemployment? The President told us “our economy created over 6.5. million new jobs just last year, more jobs created in one year than ever before in the history of America.” The unemployment rate hit 3.9% in December (ticking up to 4% in January), down from the pandemic high of 14.7% in April 2020. Smith said “If you told me in April 2020” that unemployment would be this low now, “I’d have laughed in your face.”

https://www.forbes.com/sites/richardmcg ... ff336b33e4

Fact check: Claim about inflation from 2017 to 2022 misses the mark
Numbers in post aren't accurate
The most well-known measure of inflation is the consumer price index (CPI) calculated by the U.S. Bureau of Labor Statistics, according to the Brookings Institution.

Neither approach generates figures in line with Eric Trump's Facebook post. There is also little chance the inflation rate rises to 14% in the near future, Sarah House, an economist at Wells Fargo, told USA TODAY.

"At 8.5%, March is likely to mark the peak in inflation this cycle," House said. "The level of prices is very likely to continue to rise throughout this year, but the pace is expected to moderate as consumer spending slows."


Various factors led to inflation spike
Though the post significantly overstates the increase, inflation has indeed jumped in 2021 and 2022. A combination of monetary and fiscal policies designed to speed economic recovery during the COVID-19 pandemic contributed to the spike, Jason Furman, an economist at Harvard University, told USA TODAY in an email.

The Federal Reserve has kept interest rates near zero, which has made it easier for people to borrow money, Furman said. The 2020 Coronavirus Aid, Relief and Economic Security package and the 2021 American Rescue Plan sent checks to households to help combat pandemic-related unemployment.

With these measures staving off a recession, consumer spending and demand – which was pent-up during the pandemic – increased and drove up prices.

https://www.usatoday.com/story/news/fac ... 274404001/
#15228039
Puffer Fish wrote:Democrats are in DENIAL that Democrat policies are to blame.


The 2021–2022 inflation surge is the higher-than-average economic inflation throughout much of the world that began in early 2021. It has been attributed to the 2021 global supply chain crisis caused by the COVID-19 pandemic, and unexpected demands for certain goods. As a result, many countries have seen their highest rates of inflation in decades.

Please explain how Democrat policies have caused WORLD WIDE inflation.
#15228059
@Unthinking Majority What do you mean? Biden causes EVERYTHING!!

High gas prices in Thailand? Biden.

My beer getting warm? Biden.

Rainstorm last night? Biden.

When I stubbed my toe on the end of the bed? Fucking Biden!!!
#15228097
Godstud wrote:@Unthinking Majority What do you mean? Biden causes EVERYTHING!!

Don't you mean Obama?
High gas prices in Thailand? Biden.

My beer getting warm? Biden.

Rainstorm last night? Biden.

When I stubbed my toe on the end of the bed? Fucking Biden!!!

Thanks, Obama!
#15228160
Patrickov wrote:Puffer Fish, we need to accept that the boom in the past 3 decades was built upon appeasement to tyrannical regimes like the CCP, Russia, etc.
:lol: No. It has to do with rampant Capitalist exploitation of the rest of the world, and crony Capitalism.

Appeasement to Russian and China? In what ways? Do you mean... TRADE? :eh:

Tyrannical? Just because you have a hard-on against China doesn't mean they've actually been tyrannical, which is why so much trade and business is done there, AND in Russia(in the past).
#15228246
jimjam wrote:Please explain how Democrat policies have caused WORLD WIDE inflation.

There has not been any sudden world wide inflation. Only in the US, Canada, and European Union.

Hmm... What do all three of these places have in common? Same type of government policies.


Godstud wrote:What do you mean? Biden causes EVERYTHING!!

High gas prices in Thailand? Biden.

Oh, by the way, Thailand is one country that is NOT experiencing high inflation.
#15228267
Puffer Fish wrote:There has not been any sudden world wide inflation. Only in the US, Canada, and European Union.

Hmm... What do all three of these places have in common? Same type of government policies.

...snip...

Oh, by the way, Thailand is one country that is NOT experiencing high inflation.


Lurkers, my professional economic experts assert that inflation is high in many nations. Not just the ones he listed. Most nations. Maybe those with less inflation are less dependent on OPEC oil and have not let the mega corps into their nation. Thailand told Walmart to buzz off, for example.

I live in Thailand and gasoline prices are up a lot, but other prices are being controlled by the Gov. of Thailand, so I've been told.
.
#15228337
Istanbuller wrote:It is because every country copies policies of the world's leading country. The result is the same everywhere. So Biden is guilty.

WOW! I had no idea that world economics was so simple. So, I guess, all Joe has to do is make a few phone calls and
Istanbuller wrote:everywhere
inflation will be just fine.

Far fucking out! I'm guessing you have a degree in economics from Harvard AND Yale ....... :lol:
#15228362
The US has been suffering from inflation for decades! Remember when a coke cost 10 cents? Maybe an old grandfather does. I bought a bottle of coke from a Conneticut vending machine in 2020 and was shocked that it cost me 3 dollars! Expensive!

If you want to understand inflation, go study economics. Nobody owns inflation.
#15228363
MistyTiger wrote:The US has been suffering from inflation for decades! Remember when a coke cost 10 cents? Maybe an old grandfather does. I bought a bottle of coke from a Conneticut vending machine in 2020 and was shocked that it cost me 3 dollars! Expensive!

If you want to understand inflation, go study economics. Nobody owns inflation.


Did your Coke double overnight? Did your gasoline?

Why are you such an apologist for this administration? Because it's not the last one? Welp, maybe it'll take a little longer for you to see the light. Fine by me.

#15228366
BlutoSays wrote:Did your Coke double overnight? Did your gasoline?

Why are you such an apologist for this administration? Because it's not the last one? Welp, maybe it'll take a little longer for you to see the light. Fine by me.


Supply and demand, @BlutoSays. If demand exceeds supply, for whatever reason, then the price goes up to curb demand until it matches the supply. This is the working of the Invisible Hand of the free market, its wonders to perform. You’re not against the free market are you, @BlutoSays? :eh:
#15228444
Godstud wrote::lol: No. It has to do with rampant Capitalist exploitation of the rest of the world, and crony Capitalism.


I am a Capitalist so this statement is a direct attack on my belief.


Godstud wrote:Appeasement to Russian and China? In what ways? Do you mean... TRADE? :eh:


Indeed, reckless decision to trade without properly assessing their reaction first.


Godstud wrote:Tyrannical? Just because you have a hard-on against China doesn't mean they've actually been tyrannical, which is why so much trade and business is done there, AND in Russia(in the past).


The same can be said for countries like Saudi Arabia, UAE or Indonesia.
#15228445
Potemkin wrote:Supply and demand, @BlutoSays. If demand exceeds supply, for whatever reason, then the price goes up to curb demand until it matches the supply. This is the working of the Invisible Hand of the free market, its wonders to perform. You’re not against the free market are you, BlutoSays? :eh:


To be fair, if I were BlutoSays, I would probably believe the inflation soared because either of the following:
1. Biden purposefully allow gasoline supply fall well behind demand to drive up prices and force people to follow his "leftard: green agenda.
2. Biden made mistake in the Russian-Ukrainian conflict causing oil (and thus gas) price to soar out of fear.

But of course I am not him, and I don't find any of the two points have any ground myself (those are just my perception of what he might think).


On a side note, I think BlutoSays is a Trump Administration / Republican Party apologist (these two groups don't necessarily overlap, mind you).

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