Inflation, what is up with that?
There is good inflation and their is bad inflation. What we experienced from 2009 - 2021 was the good type of inflation, between 1 and 3% a year. What we are experiencing now between 5 and 9% inflation is bad inflation. What we experienced in the 1980s, 10 to 15% inflation is terrible inflation. And, what Russia, Argentina, and a few other countries are experiencing, in excess of 15% annual inflation is catastrophic inflation.
There are many causes for inflation, the overall increase in prices, but rarely is a president at fault, and for the most part, President Biden falls into that category regardless of how much his opponents would like their words blaming him for it to be true.
THIS is a symptom of why we have inflation today - the effects of the pandemic along with supply chain decisions made back in the 1970s
https://www.cnn.com/videos/business/202 … ad-vpx.cnnSummer somewhat disagrees with CNN. And predicted what we see now. He clearly lays some blame on the Biden adminstration.
https://www.cnn.com/2021/05/26/economy/ … index.html
https://www.washingtonpost.com/us-polic … inflation/
https://www.politico.com/newsletters/po … r-00023430
https://www.bloomberg.com/news/articles … pany-greed
The current economist predictions of a possible recession.
April 11 2022 ‘Risk of a recession is rising’ as problems just keep ‘cascading’ throughout the economy, economist says
https://fortune.com/2022/04/11/recessio … st-survey/
April 10, 2022 Recession Risk Is Rising, Economists Say
https://www.wsj.com/articles/recession- … 1649592002
https://www.npr.org/2022/04/11/10921175 … -is-comingI don't understand the point you are trying to make with all of those links. All they show is what is already known and not under dispute. Yes, Larry Summers was right about the stimulus causing some (a burst is how I think he put it) inflation.
None of them address the fact that the stimulus part of inflation was both short-lived and small.
Yes, we know the risk of recession is higher today for a whole host of reasons, one linked to the Fed and none linked to Biden.
Also, I don't see where CNN took an official position for Summers to disagree with. I seriously doubt that Summers would disagree with the reporting in the link I provided since it is silent on whether the stimulus was responsible or not,At one point you called my view of what I felt added to inflation misinformation. In my view, Biden's policies (Biden is the president, he is responsible ultimately for signing what the Congress put in front of him) were part of what led to inflation. Especially the stimulus and the child tax credit I explained I gleaned my view from economists. Saying, " some economists agreed with my view, some did not... I offered the links to provide information I read, which helped me come by my view.
This article and interview make good sense to me.
Feb 4th 2022 Summers addressed the stimulus effect on inflation
"SUMMERS: It’s two blades of a scissors. I’m not sure that we would have the inflation if there had never been a pandemic and, even if there had been a pandemic, without the overwhelming stimulus that was applied well into recovery — during 2021. We had an economy where income was running short by $50 billion a month because of the pandemic, and we injected $150 billion to $200 billion a month into that economy. It’s perhaps not surprising that that’s led to an overflow of demand, which has generated inflation that on the CPI [Consumer Price Index] measure has risen to 7 percent." https://news.harvard.edu/gazette/story/ … e-summers/
I think it is time we agree to disagree on the subject."were part of what led to inflation." - True, a small. temporary part, which you have tried to turn into something much bigger. When you try that, it is called disinformation.
I'll have to read the rest of Summers' statement to see why he didn't mention the much more obvious and long-term supply-chain disruptions.
Here is what I got out of that. While YOU focused ONLY on the stimulus as causing inflation, Summers looks at much more (to start with).
We have an economy that is overheating, the clearest indicator of that is the ratio of vacancies to unemployment
- Workers are quitting their jobs at record rates because of high-quality job opportunities, and layoffs are at extraordinarily low levels. Wherever you look, there is a shortage of workers(the stimulus certainly didn't do that) Labor is in short supply, putting upward pressure on wages and the inflation process
- The inflation challenge is magnified by a variety of supply-chain bottlenecks So, we have a classic strong demand, limited supply inflationary situation that has developed over the last year. (Again, NOT stimulus related)
YET, and this seems very confusing and contradictory, Summers first says the above; that all of those factors were pushing inflation up. Then his says " I’m not sure that we would have the inflation if there had never been a pandemic " (meaning the pandemic caused inflation) followed immediately with words that sound very much like it was ONLY the stimulus which caused all of the inflation.
That leaves me extremely confused. Why did he first say the inflation happened for "these" reasons and then turn around and say "no, no, it was the stimulus which caused inflation"? It doesn't make sense to me.
The real answer, provided by other economists, is that there was a core inflation that was going to happen regardless of the stimulus - around 3 to 5%. This is born out by Europe's, who didn't have a stimulus, inflation numbers. The remainder then might be attributed to the stimulus.
https://www.politifact.com/factchecks/2 … ion-so-di/
Then I found this about Summers' prediction:The first imperative, in assessing Summers’s contribution, is to clarify what he predicted. Appearing on Bloomberg’s “Wall Street Week” show on March 19, 2021, he said, “I think there is about a one-third chance that inflation will significantly accelerate over the next several years, and we’ll be in a stagflationary situation like the one that materialized between 1966 and 1969.” Summers said that there was also a one-third chance “that we won’t see inflation, but the reason we won’t see it is that the Fed hits the brakes hard, markets get very unstable, the economy skids downwards close to recession.” Finally, he added, there was “a one-third chance that the Fed and the Treasury will get what they are hoping for, and we’ll get rapid growth, which will moderate in a non-inflationary way.”
SO, as it turns out, Summers set it up such that no matter what happened, he was going to be right, lol. So much for Summers' prognostications.
https://www.newyorker.com/news/our-colu … -and-biden"Wherever you look, there is a shortage of workers(the stimulus certainly didn't do that) Labor is in short supply, putting upward pressure on wages and the inflation process"
It didn't? What encouraged older workers to retire, if not the stimulus coupled with jobs disappearing? What caused the massive increase in wages if not an unemployment program paying workers to stay home? What caused supply chain bottlenecks at our docks and highways if not workers staying home?
All of these were govt. demands and policies, not an unthinking disease. Some were useful in the short run, but most of those policies went far beyond that, causing the very problems you blame on a virus."What encouraged older workers to retire, " - Definitely NOT Biden's stimulus! They were retiring in HUGE numbers on Trump's watch.
"What caused the massive increase in wages if not an unemployment program paying workers to stay home? " - You have been DEBUNKED several times on that disinformation. It wasn't true when you first stated it and it is even less true today
"What caused supply chain bottlenecks at our docks and highways if not workers staying home? " - Are you actually trying to suggest this is ONLY America's problem? Please, get real.
There are other economists that share Summer's views on what caused inflation. I used him purposely, he leans left, and I did not want to offer perhaps someone that leans rights opinion. Can't win with the liberal mind.
I find your views on this non-logical. The stimulus cash (both stimulus payments) poured into the economy helped promote the supply and demand problem, a problem that was already becoming a problem due to Trump's first free cash. Why the hell would Biden pour more fuel on the fire. Of course, supply and demand was a big part of the complicated puzzle that caused inflation. And I am sure we COULD see more problems arise that could add to the problem. Hopefully not.
Larry Summer's and other economists have pointed the finger at the Biden policies. You asked me to produce economists to support my view. I did... End of story.
I feel Larry Summer's has made a well-educated assessment, and I CHOOSE to believe his scenario."There are other economists that share Summer's views on what caused inflation." - [i[Name some more now that Summers' has been destroyed. Remember, Summer's gave what is happening today only a ONE-THIRD chance of happening. He gave two other scenarios as well, each have a ONE-THIRD chance of happening. Summers is no longer credible on this subject.[/i]
Well, those predictions of recession certainly flopped!
I'm sorry, Eso, but the "effect of the Pandemic" was that people got sick and hundreds of thousands died.
Our response to the Pandemic was to lockdown the country (slowing production and the movement of goods) and inject trillions of dollars into the economy without any corresponding increase in productivity (including the moving of goods we term the supply chain). That is what caused inflation, not the death of thousands of people.
While it may be useful to ignore that simple fact, allowing the comment that Biden did not cause inflation, it remains that it was governmental policies and actions that caused the inflation we are seeing, not a disease killing people.Your answer is contradictory on the face of it. First you say the pandemic had nothing to do with inflation and then you follow up with an example of his it is.
Let me try this. BUT FOR the pandemic, there would not be the kind of inflation we have today. No pandemic, no response, no inflation.If you think I said the Pandemic had something to do with inflation then you can't read.
Unfortunately for your premise that liberals won't give money away without a pandemic, it is patently false. On top of that there is no natural law that says the correct, proper response to a pandemic is to flood the economy with trillions of dollars. Not even Biden can find such a law; that he did so anyway is 100% on him.You do know you are speaking gibberish, don't you?
You know who doesn't speak gibberish, Larry Summers. From Sharlee's recent post "SUMMERS: It’s two blades of a scissors. I’m not sure that we would have the inflation if there had never been a pandemic
More non-gibberish. From the Summers' interview:
GAZETTE: I saw a piece in The New York Times not long ago that described this as “a strange, contradictory moment in the economy.” We have inflation at 40-year highs, people quitting jobs, supply-chain woes, yet we have unemployment nearing pre-pandemic levels and record numbers of jobs created over the last year. Do you view these signs as contradictory or do they make sense given your understanding of the forces that are at work?
SUMMERS: It’s, obviously, the pandemic.Of course it is the pandemic. The virus got into the Biden's brain and forced him to provide trillions of dollars in giveaways. It forced him to provide unemployment beyond what could be earned. It forced him to give a child tax credit. It forced him to forgive rent payments. Pretty smart virus, wasn't it?
Eso, you say you have a background in economics; how can you sit there and say that a virus, not our response to it in flooding the economy with money, caused inflation? You know what increasing the money supply (demand) without increasing supply will do, yet you still claim a virus did it all. You know better, just as I do. You know why wages rose, and it wasn't a virus in the economy doing it. You know why the supply chain broke down, and it wasn't a virus stalling machinery at the docks or preventing trucks to run. You know why the supply fell, and it wasn't a virus closing businesses.
It was the policies of our government, plain and simple.Please tell the truth, instead of making things up.
"how can you sit there and say that a virus, not our response to it in flooding the economy with money, caused inflation? " - [i]You clearly need to take a few courses in logic. I will repeat myself. BUT FOR the pandemic, there would have been no response to cause inflation. Therefore, it has to be the pandemic that is behind the inflation.
It really is a very simply concept.
Finally, i bit of good news on the inflation front. I hope it repeats itself in the coming months.
https://www.cnn.com/2022/05/11/business … index.html
Also, the data shows that President Biden was right in putting inflation on Putin and his war. Putin caused a $20/bbl rise in oil prices.Every economy in the world is experiencing inflationary pressure. Biden can't be responsible for all of them.
Sure he can, just ask any Trump Republican, lol.
Right, so now I know why my favorite Spanish bar has just put the price of beer up. Impeach Biden!
It is well known today that President Biden has only marginal, if any, responsibility for today's inflation. But what is? Some of this has been discussed before.
Initial On-Set of 2021 Inflation, according to the experts:
1. In 2021, with the economy expanding, demand picked-up sharply. Supply, however, could not keep up. Why?Because of the enormous amounts of money pumped into the economy over the last 2 years, without accompanying supply increases. Had people worked for that money, the supply would have increase a similar amount, but they didn't. Instead it was simply handed to them without any production required.
As long as you keep repeating that same conservative false narrative, I will keep replying that studies show the American Rescue Plan did much more good than harm and that it a small, TEMPORARY impact on inflation.
"Had people worked for that money, the supply would have increase a similar amount, but they didn't." - The problem with that claim is that 1) you have no evidence to back that up and 2) it defies common senseYes, of course - it defies common sense that injecting trillions into an economy without adding trillions worth of product does not cause inflation. Clue: that is almost a textbook definition of how to cause inflation. Increased demand with falling supply (as people were locked in their own homes rather than producing products/services to purchase with all that money)...well, it will ALWAYS result in inflation. But you know and understand that - why the denial now?
Yeah - giving those trillions (mostly to people that did not need it) has sure produced a short lived, TEMPORARY inflation. Let me know when it ends, sometime in the next few years.Textbook Definition?? Nope, sorry it is not. A stimulus is the preferred way to get out of most recessions. The pandemic, however, was a different breed of cat altogether.
I have asked before, but you have yet to explain that if you are right, then why didn't the American Rescue Plan cause high, long-term inflation?? Keep in mind, in reality, it cause only a small, temporary increase.
Now, repeat after me, the ARP caused only a small, temporary increase. You will probably need to keep repeating until the truth of the matter dawns on you.
Alternatively, find me some reputable links (I know you won't because you can't) links to studies that support your false belief.
News Alert: You cannot argue with Tom Parsons. CNN's governmental use of psychological manipulation is complete. Thorough brainwashing has occurred. Another victory has been achieved. Comrades, rejoice!
Shouldn't he provide evidence of that before you agree with him?
All is getting worse, not better, and much due to Biden's policies.
This would be your opinion. Many economists do not agree. Summers feels more to come because of Biden's flawed policies. Biden is destroying America. Summer's outlook is very poor on what's to come ...
Larry Summers slams Biden over inflation, ‘hipster antitrust’ policies
Famed economist Larry Summers is stepping up his criticism of President Biden’s attempts to fight inflation — warning this week that his administration’s embrace of “hipster” antitrust policies could drive prices even higher.
Summers, who served as Treasury secretary during the Clinton administration, noted the antitrust crackdown led by Biden’s Justice Department and Federal Trade Commission carries “real risks” during a period of persistent, decades-high inflation.
“Policies that attack bigness can easily be inflationary if they prevent the exploitation of economies of scale or limit superstar firms,” Summers said in a Twitter thread.
“Likewise, policy focused on protecting competitors or communities or limiting layoffs are likely to raise costs & prices,” Summers added.
The remarks represented the latest broadside from Summers, a prominent voice in Democratic circles who has nevertheless taken the Biden administration to task for its response to rising inflation.
Summers previously warned against the Biden administration’s antitrust push last December after the president and top advisers signaled plans to crack down on the largest meat producing firms and oil companies.
Summers’ Twitter thread expanded on remarks he made during an earlier interview on Bloomberg Television, where he sounded the alarm on what he described as a Biden-led “hipster antitrust” push.
Summers was reacting to a recent speech by Assistant Attorney General Jonathan Kanter, who called for enhanced antitrust enforcement and warned that “corporate power has grown to levels that leave our fellow citizens concerned and confused.”
“What is badly misguided and potentially dangerous to our economic future is the set of doctrines that people jokingly refer to as ‘hipster antitrust,’” Summers said.
Summers added that an overly aggressive antitrust policy that loses focus on protecting consumers “tilts very easily into a kind of dangerous populism.”
Biden has responded to critics who say his economic policies have contributed to the inflation surge by declaring that bringing prices down is his top domestic priority. But gas prices have skyrocketed to fresh records this week and Federal Reserve interest rate hikes have yet to yield much progress.
Summers further elaborated on his stance in an interview with Axios on Monday, telling the outlet that the Fed holds the “primary responsibility” to address inflation but the Biden administration’s policies could also impact prices.
“There are micro-policies that also matter,” he added.
Biden and his team argue that a lack of competition in key sectors has allowed major players to jack up prices on consumers. But Summers disagreed with the view, warning in December that the administration’s proposed actions were “more likely to raise than lower prices.”
“The emerging claim that antitrust can combat inflation reflects ‘science denial,’” Summers wrote on Twitter. “There are many areas like transitory inflation where serious economists differ. Antitrust as an anti-inflation strategy is not one of them.”
https://nypost.com/2022/05/24/larry-sum … -policies/
Janet Yellen -- "'I was wrong': Treasury Secretary Janet Yellen concedes she misread threat of inflation"
"Yellen in March 2021 said inflation posed only a "small risk." Two months later, she said she didn't anticipate inflation would "be a problem." Earlier that spring, Biden signed his $1.9 trillion COVID-19 rescue plan into a law, providing a boost in spending that his critics blame for accelerating inflation.
"As I mentioned, there have been unanticipated and large shocks to the economy that boosted energy and food prices, and supply bottlenecks, that have affected our economy badly that I, at the time, didn't fully understand," Yellen told CNN. "But we recognize that now."
What America’s next recession will look like
A mild downturn may be followed by a painfully prolonged recovery
https://www.economist.com/finance-and-e … -look-like
https://video.foxbusiness.com/v/6306407 … show-clipsIt looks like my response to this got lost. I said that I stopped paying attention to anything Summers says since I found out (and I have point this out to you before with appropriate links) that he did not have any special insight into whether inflation would occur or not. He gave it only a 30% chance of happening like that version of his prediction said He ALSO said there was a 30% chance of inflation not being bad!!!!. Then he gave another 30% chance of something else happening, but I forgot what that was. You need to find another economist who said back in March 2021 who went ALL IN that inflation was going to get terrible and didn't equivocate like Summers did.
You bring up Yellen but didn't mention any of the other thousands of economists who agreed with her. A little disingenuous don't you think?
Biden responsible for increased regulation and shut down of oil manufacturing on Federal Reserves?
Check.
Biden responsible for an additional "stimulus" package as we were clearing the pandemic, putting trillions of new dollars into the economy, which lowers the purchasing power of all dollars?
Check.
OK then, Biden owns this inflation, and coming recession, as much as anyone.When you start telling the truth, Ken, I'll pay attention to you. But so long as you keep pushing disinformation like the above, it is a waste of my time.
Oh? Biden wasn't key in that second stimulus package? Or the "infrastructure" bill packed full of liberal ideas but precious little to repair our infrastructure?
Actually no, he was key to the third stimulus. You know, the one that had only a small, temporary effect on inflation. The first two were during the Trump administration.
You must not be thinking of the BIPARTISAN INFRASTRUCTURE bill that 10 to 12 Republicans joined. Which one were you referencing?Sorry, but the inflation period I'm going through is neither small nor temporary. It has badly damaged my standard of living and still getting worse.
Yep, that infrastructure bill that Biden pushed hard to get. Can't see that it matters who voted for it; Biden was the driving force behind it. I'll leave the partisan politics to you."Sorry, but the inflation period I'm going through is neither small nor temporary. " - [i]Are you talking about the inflation that the third stimulus had little or not impact on?
Biden pushed for a bipartisan infrastructure bill that dealt mainly with infrastructure type items. You may be conflating that with the Build Back Better infrastructure plan that went nowhere.
""My God, the fact that the majority of the Senate Republicans don't want any of these proposals even to be debated or come up for a vote, I find unconscionable," Biden said in his remarks, a rare evening address meant to reach the largest number of viewers.
"We can't fail the American people again," he continued.
https://www.cnn.com/2022/06/02/politics … index.htmlAn interesting take on the price of gas:
https://www.yahoo.com/finance/news/gas- … 34707.htmlI see they are pointing finger at the proper target, which isn't a President of the United States.
Further, those on the Right seem to forget, such much of our other products require some sort of oil distillate as well as machinery to grow food and transport to get the products to market.
Bottom line, there are three things driving the world's inflation: 1) Putin's war in Ukraine making supply of oil and food scarce, 2) lack of refining capacity driving up the price of gas, and the long-standing supply chain issues.You forgot to include the injection of trillions of dollars without an equal amount of supply. Demand increases while supply falls or remains static = inflation, something we have all known for many, many years.
Just to keep everything in perspective -
Inflation Rate in the United States averaged 3.30 percent from 1914 until 2024, reaching an all time high of 23.70 percent in June of 1920 and a record low of -15.80 percent in June of 1921.
Today's inflation is 3.48% and last months was 3.15%. In other words, the inflation we are experiencing today, is what Americans have been use to for the last 110 years. What we saw under Obama and Trump as an anomaly that we ought to be thankful for but not expect.I think you may be the only person in the country that believes the lying figures being published.
My April power bill showed a decrease of 18% in KWh used and a 1% decrease in price over a year ago. You do the math.
My grocery bill continues to climb every month even though I don't buy expensive items any more. Rib eye steaks, Salmon, hams, etc are gone from the freezer, replaced by 10lb chubs of poor quality hamburger and pork that has been on the store shelf too long.
Gasoline has gone from $2.90 to $3.79 in the last month. Again, you do the math.
I no longer eat out, even at MacDonalds; when two hamburgers, fries and drink costs $16-$20 I can no longer afford such extravaganza.
I'm not alone here - you are the only person I've heard telling me how low inflation is. The news channels, internet, friends and family from all over the country - everyone but you is crying how badly prices are going up. We are again in the position where income lags prices and it's harder and harder to provide necessities on what comes in.
Except you, that is swallowing whole the lies government is giving you.Same here in regards to costs, but my stats are even higher for food, utilities, and just about everything.
Some are very much brainwashed. A user here posted a quote on another thread -- "Nikita Khrushchev said, “We will take America without firing a shot. We do not have to invade the U.S. We will destroy you from within....”
https://www.orlandosentinel.com/2018/07 … ng-a-shot/
They are doing a bang-up job, are they not?Will we be destroyed from within, quite possibly..From Jamie Raskin...
"Well, Marjorie Taylor Greene, for example, has been recycling direct Russian propaganda. She says that our tax dollars are going to support Ukrainian Nazis, and that is a Putin line, that he’s de-Nazifying Ukraine and that it’s a Nazi state,” Raskin said. “Of course, it is a liberal democracy committed to equal rights for everybody and human rights, and it has the only Jewish president in the world outside of Israel.”
Maybe Khrushchev Was right. But it is clear which party they are targeting by who most often regurgitates the Russian talking points.
https://www.newsweek.com/marjorie-taylo … zi-1891524Thanks, Sharlee. That's the point. It doesn't matter where you are or what your financial situation is (unless you're a billionaire) - inflation is alive and well. Government, and government flunkies, tell us it is dead, or "normal", but it is not and the experience of every single person I talk too (except Esoteric) says it is not. Everyone says it is hurting, everyone says their standard of living is falling because they can no longer afford what they did a few years ago.
Inflation has ALWAYS been alive and well. When, except in depressions, as it not?
Of course the standard of living is becoming more abysmal each day. The middle class in America is disappearing. There will only be TWO classes- the very rich & the very poor.
Yes, the Russians are doing a bang up job. They have already brainwashed some in Congress and all of MAGA.
Respectfully, I respectfully offer an alternate viewpoint. In my observation, individuals who align with liberal ideologies often exhibit a deficiency in practicality and allegiance to our nation. They appear to readily embrace stringent directives and conform to predetermined norms, even dictating acceptable speech. This suggests a notable absence of independent thinking. Please understand that this perspective is exclusively my own.
Truely signs of being in a brainwashed state.Again, I think you are simply projecting to problems with MAGA (who are determined, it seems to do away with our democracy) onto moderates and liberals.
Ah yes, independent thinking. For MAGA that translates to think the way we do or we will put you in jail (like doctors who want to provide appropriate health care to pregnant women).
As to brainwashed, I have already provided the scientific proof to show that MAGA is truly brainwashed by Trump. (Of course, one has to accept science as real before one can accept its conclusions and a lot of MAGA reject science - or so they say).Thank you for your insight. I share your observation that many Americans seem to have been influenced by what appears to be a form of manipulation. It's concerning how easily this sway has occurred, particularly in the context of liberal ideologies. The susceptibility of certain mindsets to propaganda, repetition, and alignment with specific ideologies is indeed troubling. Your sentiment highlights the importance of critical thinking and awareness in navigating today's complex socio-political landscape. The hate America agenda started with Obama.
And Trump is the best master manipulator in modern history.
You might be right about Obama, but not in the way you think. It seems obvious to me that electing the first black president unleased the pent up hate of the millions of racists in America. That is why hate crimes very quickly started rising. And then came Trump who gave these haters permission to express their hate.Yes, there should be diversity; however, diversity should never be prioritized over meritocracy. The most qualified person, regardless of race, orientation, & gender, should get the scholarship or position. However, there are many who assert that protected class should trump meritocracy-which is the definition of totally inane.
Here is the problem with that - continually prioritizing meritocracy over diversity has led us to the lopsided society we live in now.
In any case, meritocracy can coexist with diversity. In my opinion, when two people are equally qualified, the nod needs to go to the one that has been oppressed the most for the longest.
Yes, Obumbler started it all. With the present DEMONcrats, I have voted Republican since Obama. I will never vote again for the present Democrats. They are hellbent in ruining this country. They put inane social programs over the real problems of America. They need to GROW UP & FACE REALITY. Smart Americans are turning against the Democratic Party.
Here is the problem - what Sheri is referring to as her view regarding easily swayable has no scientific support (at least any that has been offered). While my presentations about how MAGA became brainwashed is (which I offered ample evidence).
It seems like the roots of what we're seeing now were planted during the Obama administration. I can't shake the feeling that he's pulling the strings behind Biden, dictating every move. The party has shifted significantly since then, and it's not the same one I once proudly supported. It's heading down a path that threatens everything America stands for, aiming to mold a government that blends socialism and Marxism, at least from my perspective. It's a concerning development, and they seem to have gained a significant influence. I'm hopeful that more Americans are waking up to the danger this party poses to our nation. It might sound ominous, but it's time to raise our voices even louder, to ensure our concerns are heard.
We can no longer go peacefully into the night...Lying Trump is the only one who is threatening everything America stands for.
He has already halfway succeeded in destroying our democracy. Lying Trump has convinced millions of gullible Americans not to trust elections (unless he wins, of course) and not to trust our judicial system (unless it works for him) and not to trust juries (unless they find in his favor).
Sadly, Biden HAS ALREADY DESTROYED America. America is unrecognizable now. The awakened who have voted for Biden now see the errors of their ways. They bemoan that the country has gotten so much worse since Biden's presidency. My cousin stated that it is hard for her to buy simple groceries because of inflation. She is middle class & finds it hard. Only those who are upper middle class don't feel the pinch of Biden's socioeconomic policies.
I recognize your first sentence as Projection of what is really true about Lying Trump.
I fully echo Grace's sentiments. From my perspective, Biden has swiftly brought about detriment to our nation. We're entangled in two wars, our economy is faltering, and millions of migrants have poured across our borders. There are even liberals on our streets, chanting "Death to America," which is deeply troubling. And let's not forget his disturbing endorsement of transgender reassignment for children. He is incompetent, as is whoever is pulling his strings.
It's clear he lacks sound judgment and common sense. In my view, his non-support of Israel is disgraceful.
Not sure how anyone can continue to support such a failure. I have little respect any more for anyone that supports this man.
In my view, He is a vile (as in morally bad) human being.
Trump provided a sense of stability and a clear path forward that resonated with me. Under his leadership, I felt reassured that the country was in capable hands. Witnessing his dedication to serving the people instilled in me a sense of pride in America and its cherished values.
In my view, Biden has done everything he could to destroy those very values.
Yes, I agree America has been badly damaged by Bden and his administration. When people can stand in our streets and yell "Death to America" most should have come to the same realization that we have.
We have so many worthy things to spend our tax dollars on right here in America, yet I need not mention we are willing to spend it on migrants who have flooded into our Nation due to the golden invite, Biden has sent the world.
Hopefully, he is voted out in 2024, and our nation can be built back to what it was before he walked into the White House, and used a wrecking ball to quickly bring it down.In America, that kind of speech is protected by the 1st Amendment which the right-wing only selectively believes in. In Russia, that kind of speech lands you in jail or dead. You may not, but I prefer to live in America where speech is protected (until it harms someone, like Trump's).
The building will be backwards since Trump left America in a very terrible place."In America, that kind of speech is protected by the 1st Amendment which the right-wing only selectively believes in."
In my view, anyone who yells Death to America has committed treason. That is a call that indicates war against my nation. As well as “adhering to enemies of the United States. Do you recollect some of the allegations you levied against those who marched in the CHARLOTTE protest?
"What is treason under the United States law?
The Constitution specifically identifies what constitutes treason against the United States and, importantly, limits the offense of treason to only two types of conduct: (1) “levying war” against the United States; or (2) “adhering to [the] enemies [of the United States], giving them aid and comfort.” https://constitutioncenter.org/the-cons … gh%20there
No, you are the only one who doesn't.
Or doesn't recognize your power company and grocery stores are ripping you off by keeping prices artificially high.Of course they are. After going through government approval, electric rates are "ripping us off". As are grocery stores, with their 2% profit margin.
But whether they are or not does not change that prices are up, and far higher than we are being told. It's called "inflation".What effects inflation:
Normalization of Theft - in many cities it is now practically illegal to attempt to stop people from looting and robbing stores. Those losses get added to the prices for paying customers.
State and Federal Taxation - Gas, Electricity, Oil, all have some form of taxation on them, states like CA are particularly earnest in their taxation efforts. This cost gets passed down when transporting goods and services.
State and Federal Regulations - Forcing power plants to shut down because they burn coal or gas, forcing companies to invest in 'green energy' or face penalties/fines and carbon taxation. These costs get passed down to utility customers.
Ultimately it is not greed of utility companies and corporations nearly so much as it is the current Administration's spending and efforts, or lack of efforts to ensure Law and Order, that are responsible for the current worsening inflation and state of affairs in America.
It is absolutely correct to hold the Biden Administration and the Democratic Party responsible for the ills effecting America... they are the ones that have been in control... they are the ones that have spent, on average, ONE TRILLION dollars more every three months than the country takes in... which clearly is the primary cause of inflation today.
You can't spend trillions more than you have and expect the Dollar to hold its value... it doesn't matter what is done to the interest rates... even the IMF is warning the Biden Administration its lunacy has to stop:
https://www.americanactionforum.org/dai … s-the-u-s/
“The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose ‘significant risks’ for the global economy.”All good points. Government has a great deal to do with what prices are charged and it doesn't stop with only a couple of actions.
Not surprising that the IMF has warned against massive fiscal deficits; most people (outside of the far left) understand that spending what we don't have will bite us in the future. Unfortunately, it is those people that are currently in charge.
But reasonable people want to look behind the curtain to understand why. That is the only way to figure out who to blame and how to solve.
If one purposefully remains blind, then they can never advocate intelligently.Yes, you & most Americans live in THE REAL WORLD.
The "real world" of Lying Trump who is in his first of four criminal trials.
It'll be satisfying to witness the witchhunt cases reach the Supreme Court and get dismissed. Hopefully, this will serve as a rebuke to the Democrats who initiated these unjustified investigations.
2-4.211 - Civil Cases—Supreme Court Petitions for Certiorari
In all civil cases, petitions for writs of certiorari in cases to be taken to the Supreme Court from courts of appeals or from state courts must be filed within 90 days after the entry of judgment. See 28 U.S.C. §§ 1254, 1257, and 2101(c). https://www.justice.gov/jm/jm-2-4000-ti … and%202101(c).
AMEN. It is BDS. There are many people who simply refuse to acknowledge that there is out of control inflation. Things are getting worse instead of better. A blind person can see that inflation is escalating. Grocery bills are increasing at an astronomical rate. One has to be minimally upper middle class to eat well nowadays. Thank you Wilderness for your input.
So, are you suggesting that 3.5% is higher than 9%. If so, then you may be right, lol.
I was taught early on in school that if a figure goes from 9% to 3.5%, it is decreasing, not "escalating". Do you disagree?So, are you suggesting that 3.5% is higher than 9%. If so, then you may be right, lol.
I think this chart is a good indication of how Biden ruined our economy, very quickly
https://www.statista.com/statistics/191 … ince-1990/Why are you trying to fool people with old charts? It stops in 2022. Please find one that stops in March 2024 so that people will get a true picture.
Are you implying that these statistics are inaccurate? Please provide evidence if so. Past statistics remain unchanged, serving as a benchmark. My earlier comments were focused on Biden's impact on the economy from the outset of Jan 21, 2021 - into 2022. The chart supports my assertion. Did inflation surge to over 9% under his administration within months of Biden taking the White House? My remarks weren't intended to address the present economic conditions, which I view as a separate issue. I merely highlighted how swiftly inflation rose under Biden's leadership.
" I think this chart is a good indication of how Biden RUINED our economy, VERY QUICKLY"
Like from the day he walked into the White House... You just can't seem to grasp the context and definition of words.
Someone wrote "current Administration's spending and efforts, or lack of efforts to ensure Law and Order, that are responsible for the current worsening inflation and state of affairs in America." -
Let's parse this patently false claim.
"the current worsening inflation" - THAT, of course, is a fabrication. Dropping from 7% for 2021 down to the historic average of 3.5% in 2024. Now, this person may not understand how to tell up from down but I am sure the rest of us understand that 3.5% is less than 7% and therefore DECREASING and not "worsening".
"current Administration's spending and efforts, ... that are responsible for the current worsening inflation" - SINCE inflation is NOT WORSING, it MUST BE TRUE that "the current Administration's spending and efforts that are responsible for the IMPROVING inflation.
"lack of efforts to ensure Law and Order, " - This person must have a crystal ball since the FBI stats for 2023 and 2024 are not out yet. Maybe it is just hyperbolic partisan sniping.
The last statistic I found was that the murder rate in 2020 was 6.8 and in 2021, it was 6.8. Now in 2022 it was - wait for it - [b]6.3. It seems we still have this not being able to tell up from down problem.
How about Violent Crime? Well in 2020, it ROSE to 385 and then FELL to 378 in 2021 and - wait again for it - then FELL to 370.
At least for violent crime it seems that President Biden is doing GREAT and not like the biased, unsourced report referenced here.
Maybe it was Property Crimes this claim was based on. In this case, it is sort of right. It fell to 1964 in 2020 and fell again in 2021 to 1832. Here, it did increase a little to 1954 in 2022.
I won't provide a source for the inflation numbers since that is so easy to find, but I will for the Crime numbers - https://www.brennancenter.org/our-work/ … statistics
It is beyond me why some people repeatedly put out the same false propaganda over and over again.I'm not sure anyone has mentioned Trump's tax cut and it's contribution to current inflation. Many economist believe that Trump's tax cut set the stage for inflation.
As right-wing politicians around the country holler about inflation, they conveniently ignore the long-term impact of Trump’s 2017 tax cuts. Trump’s cuts, geared to help the wealthy, bloated the federal budget deficit, which left the government less leeway when it needed it to rescue the economy from COVID.
Many Americans seem to ignore the fact that as one administration leaves the White House and another enters, the ramifications of prior legislation lingers. The mindset seems to be that everything happens quickly as if turning on and off a light switch when in reality there is lingering seepage of past actions. We also see this mindset when any administration passes legislation and folks expect to see results the following month..
What did the FED say about Trump's tax plan back in 2017?
"But the plan, if approved in the form Trump officials outlined on Wednesday, could add inflationary fuel to an economy already running near full capacity, a risk Federal Reserve officials have been warning about since Trump got elected."
Ah, "inflationary fuel'. I think so.
https://www.reuters.com/article/idUSKBN17S2X0/
https://www.cbpp.org/research/federal-t … to-deliverGood point about his tax cut bloating the debt and deficit reducing the slack available when their was a real need.
I am sure others will point out that inflation remained low after the tax give-away to the wealthy. That won't care why, just the fact that it stayed low is enough for them.
But for those of us who like to know what makes things tick, here is WHY inflation remained low.
Prior to your quote, the Fed said "The Trump administration says hundreds of billions of dollars fed into the economy via deep cuts in business taxes and more generous exemptions for individuals will unleash a wave of investment and make the U.S. economy more competitive than ever." (He also said Jobs as well.)
Then, to keep things in context, they said what you wrote"But the plan, if approved in the form Trump officials outlined on Wednesday, could add inflationary fuel to an economy already running near full capacity, a risk Federal Reserve officials have been warning about since Trump got elected."
Fortunately for America, Trump's prediction (in bold) failed. There was NO unleashing of investments and there was NO huge increase in jobs. There was only lining the pockets of the rich and large corporations who kept the tax savings to themselves.
Had the beneficiaries of the tax give-away not been so selfish, then what the Fed predicted might very well have happened.What happened, then, to the cash that owners were allowed to keep instead of giving it to the government for legislators to determine how to spend?
Was it banked? Used to purchase stocks or bonds? Was it given to someone else (a child, perhaps, or a charity) to spend? Was it tucked under their mattress?
Because if it was anything but the mattress, that money went into the stockpile of the country, to be used (spent) over and over and over - the only difference is that those evil rich people got to decide where the first spending was instead of legislators. Fair enough - it was not earned or owned by legislators, but by those same evil rich people.What wasn't done with the give back was spend in it where they were Trump promised they would - investments to grow the economy and creating jobs.
The People elect those legislators you hate so much to do our business, to create programs that help (sorry, I know that is a dirty word) society, to spend our tax dollars on those programs.
As to those evil rich people - yes some (way too many actually), especially large corporations, are users who cheated hard working Americans out of their money to gain their wealth. Most of the others use the built-in benefits our society gives the rich for free to gain their wealth. Very few gained their wealth through hard work.
Many here on HP have debated Trump's tax cuts ad nauseam for now, many years.
I see this as a different, novel look at it.
Bottom line of Trump's cuts and Trump's 4 years...
The Middle Class had it better than before or after Trump... tax breaks DID go to them, not just the rich... raises DID go to them, not just the CEOs and rich.
Funny thing, those that can remember 4 or 5 years back well enough... they know... things have only gotten worse under Biden.Yeah, MOST of the middle class got a penny while the wealthy got $100. But so long as at least one person got a penny tax break, you can claim the "tax breaks did go to them", lol.
What increases in pay there were had nothing to do with Trump's tax give-away and debt buster.While it's indisputable that on January 21, 2021, U.S. Democrats gained unified control of the White House and Congress after Joe Biden's inauguration and Vice President Kamala Harris's swearing-in, alongside three new Democratic senators, there remains a question: if President Biden believed that Trump's tax laws were detrimental, why hasn't there been any effort to amend them, along with addressing the issues with immigration laws? Now, three years later, he's campaigning to change tax laws and address immigration issues, despite allowing a significant influx of people from various countries to cross our border. (Please note, no specific number of individuals is mentioned) In my view, he is nothing but an unintelligent politician, who has done a poor job and should not be reelected, due to his poor job performance.
In my view, what we saw from early on was Biden going on a spending spree that sunk the Nation into inflation. Note sources, that helped me come to my conclusion regarding Biden attributing to causing inflation.
*Source 2021 - Larry Summer's warns overspending could cause inflation https://www.politico.com/news/2021/07/1 … ion-499502
* Committee for a Responsible Federal Budget Against Spending
"The nonpartisan organization thought the American Rescue Plan was just too big, although it focused more on its colossal price tag than inflation fears.
Congress "shouldn't shy away from borrowing what's needed" to bridge the health crisis, but it also "can't afford to ignore the long term," the Committee for a Responsible Federal Budget said in a February press release.
"Ignoring this long-term debt picture will harm economic growth, hold down incomes, and make it even more difficult for us to tackle income inequality, support for families, and a backlog of necessary infrastructure improvements," the CRFA added.
The nonprofit cited projections from the Congressional Budget Office as support for its argument. The office sees the federal debt pile reaching 102% of GDP by the end of the year and nearly doubling to 202% by 2051. Those figures didn't account for the latest stimulus measure, either."
https://www.businessinsider.com/inflati … l-budget-5
Jerome Powell July 21, 2021
* "Though the Fed chair has largely refrained from supporting or criticizing fiscal policy, he has made clear he sees the inflationary risks associated with ARPA as of little consequence, at least for now.
Inflation is likely to move higher as stimulus boosts spending and the economy reopens, Powell said while testifying to the House Financial Services Committee on Tuesday. Still, the Fed's "best view" is that such effects on inflation will be "neither particularly large nor persistent," he added. https://www.businessinsider.com/inflati … e-powell-6
* Olivier Blanchard
French economist Olivier Blanchard echoed Summers' critiques in a series of February tweets, then in a longer article for the Petersen Institute. While "too much is better than too little" when it comes to relief spending, he wrote, Democrats' plans are too large and risks overfilling the hole in the US economy.
"We should spend what we need to save people from poverty and fund the needed response to the pandemic. I think we do not need to spend $1.9 trillion for that, and we should have a smaller program," he added.
The economist has modified his tone, however. In a later thread, Blanchard said part of the stimulus package should be contingent on how the virus develops.
If the pandemic worsens and Americans need more aid, they would receive full-sized checks. But if people need less support, Congress should only send out reduced checks, if they send any payments at all, he said in a February 27 tweet.
Somewhat lightheartedly, Blanchard also likened Biden's plan to the old proverb of the elephant swallowed by a snake, accompanied by a cartoon, on Twitter.
"The snake was too ambitious. The elephant will pass, but maybe with some damage," he said.
I could not agree more... All has gotten worse under Biden. In my view, he is not in any respect suitable for the job of President.
Inflation
Interest rates
Crime and Violence
War and Terrorism
No matter what the topic (unless you are a Transgender or Non-Binary) things are worse under the Biden Administration.Ouch- you are succinct in your analysis. Total agree w/your analysis.
Inflation - is currently at his historic average.
Interest Rates: High to bring and keep down the pandemic-caused inflation
Crime and Violence - I already proved this is lower under Biden than under Trump
War and Terrorism - Biden tried to stop Putin's attack on Ukraine, but Putin had his mind set. I feel Trump would have simply done nothing.
Biden was never suited to be president. He is the laughing stock president. Many see him as quite incapable. He is the Forrest Gump of presidents.
Forrest Gump, if you saw the movie, was quite successful, box full of chocolates and all.
Trump is, and has proven to be, a imminent threat to America.
WAY WORSE under Biden. Biden is socioeconomically devastating the middle class. Many middle class are becoming lower class because of Biden.
Did Trump's tax cuts aid to cause inflation? Why did Biden not change them with good speed? Fact show -- While it's indisputable that on January 21, 2021, U.S. Democrats gained unified control of the White House and Congress after Joe Biden's inauguration and Vice President Kamala Harris's swearing-in, alongside three new Democratic senators, there remains a question: if President Biden believed that Trump's tax laws were detrimental, why hasn't there been any effort to amend them? And why not in his first year when he had the full power to do so?
He certainly has talked about new Tax laws, just has done nothing but talk.There were talks and efforts to amend trumps tax plan. Tanked largely by Simema . But certainly disagreement between more progressive versus more moderate Democrats.
Democrats employed reconciliation to pass the legislation. Leaders needed to get all 50 Senate Democrats and virtually every House Democrat to vote for the bill. Those numbers were not there.
They crashed into resistance from Sinema, who slammed the brakes against raising individual and corporate tax rates.
https://www.npr.org/2021/09/13/10366296 … -budget-pl
Many Democrats were quite happy with Trump's bigger standard deduction and the more generous Child Tax Credit while others wanted to see a higher corporate rate. Many provisions of the plan are set to sunset in 2025.
The question remains, was Trump's tax plan inflationary fuel?I attribute the better part of inflation was caused by Biden overspending, and not listening to the experts that warned him.
(here is the permalink to this copy-and-paste comment to view links visit the permalink) https://hubpages.com/politics/forum/355 … ost4327988
While it's indisputable that on January 21, 2021, U.S. Democrats gained unified control of the White House and Congress after Joe Biden's inauguration and Vice President Kamala Harris's swearing-in, alongside three new Democratic senators, there remains a question: if President Biden believed that Trump's tax laws were detrimental, why hasn't there been any effort to amend them, along with addressing the issues with immigration laws? Now, three years later, he's campaigning to change tax laws and address immigration issues, despite allowing a significant influx of people from various countries to cross our border. (Please note, no specific number of individuals is mentioned) In my view, he is nothing but an unintelligent politician, who has done a poor job and should not be reelected, due to his poor job performance.
In my view, what we saw from early on was Biden going on a spending spree that sunk the Nation into inflation. Note sources, that helped me come to my conclusion regarding Biden attributing to causing inflation.
*Source 2021 - Larry Summer's warns overspending could cause inflation
https://www.politico.com/news/2021/07/1 … ion-499502
* Committee for a Responsible Federal Budget Against Spending
"The nonpartisan organization thought the American Rescue Plan was just too big, although it focused more on its colossal price tag than inflation fears.
Congress "shouldn't shy away from borrowing what's needed" to bridge the health crisis, but it also "can't afford to ignore the long term," the Committee for a Responsible Federal Budget said in a February press release.
"Ignoring this long-term debt picture will harm economic growth, hold down incomes, and make it even more difficult for us to tackle income inequality, support for families, and a backlog of necessary infrastructure improvements," the CRFA added.
The nonprofit cited projections from the Congressional Budget Office as support for its argument. The office sees the federal debt pile reaching 102% of GDP by the end of the year and nearly doubling to 202% by 2051. Those figures didn't account for the latest stimulus measure, either."
https://www.businessinsider.com/inflati … l-budget-5
Jerome Powell July 21, 2021
* "Though the Fed chair has largely refrained from supporting or criticizing fiscal policy, he has made clear he sees the inflationary risks associated with ARPA as of little consequence, at least for now.
Inflation is likely to move higher as stimulus boosts spending and the economy reopens, Powell said while testifying to the House Financial Services Committee on Tuesday. Still, the Fed's "best view" is that such effects on inflation will be "neither particularly large nor persistent," he added. https://www.businessinsider.com/inflati … e-powell-6
* Olivier Blanchard
French economist Olivier Blanchard echoed Summers' critiques in a series of February tweets, then in a longer article for the Petersen Institute. While "too much is better than too little" when it comes to relief spending, he wrote, Democrats' plans are too large and risks overfilling the hole in the US economy.
"We should spend what we need to save people from poverty and fund the needed response to the pandemic. I think we do not need to spend $1.9 trillion for that, and we should have a smaller program," he added.
The economist has modified his tone, however. In a later thread, Blanchard said part of the stimulus package should be contingent on how the virus develops.
If the pandemic worsens and Americans need more aid, they would receive full-sized checks. But if people need less support, Congress should only send out reduced checks, if they send any payments at all, he said in a February 27 tweet.
Somewhat lightheartedly, Blanchard also likened Biden's plan to the old proverb of the elephant swallowed by a snake, accompanied by a cartoon, on Twitter.
"The snake was too ambitious. The elephant will pass, but maybe with some damage," he said.Trump did not listen to experts.
"But the plan, if approved in the form Trump officials outlined on Wednesday, could add inflationary fuel to an economy already running near full capacity, a risk Federal Reserve officials have been warning about since Trump got elected."
October 2017...
"Trump and top Republicans in Congress hope to enact a package of tax cuts for corporations, small businesses and individuals before January, pledging that sharply lower taxes will boost U.S. economic growth, jobs and wages."
"But Federal Reserve officials questioned this rosy scenario, saying the Republicans' proposed tax cuts could deliver a short-term growth surge, but also bring high inflation, burdensome government debt levels and an eventual return to subpar economic growth.
Unless targeted to raise productivity and underlying potential, San Francisco Fed President John Williams said, a tax cut could feed "unsustainable" growth that would ultimately be undone by asset price bubbles, inflation and possible recession."
"Fed officials generally refrain from commenting on fiscal policy, but the Trump administration is proposing $6 trillion in personal and corporate tax cuts at a time when many economists feel the country does not need massive stimulus."
Common sense is leading me to the conclusion that Trump's tax plan had a part in the inflation experienced years afterward. It was certainly a part of the equation and expert advice was ignored.
https://www.voanews.com/a/republicans-m … 58292.html
https://www.reuters.com/article/idUSKBN17S2X0/Trump?
Trump wasn't letting in 3 million or more migrants a year.
Trump wasn't spending 1 Trillion dollars of debt every 3 months (Inflation).
Trump wasn't spending hundreds of billions on foreign wars getting us into WWIII.
Sharlee gave you the rundown of how the Biden Administration has screwed America every way possible with every dollar they spend...
Any American not worth millions of dollars got screwed by Biden, every which way his Administration could think of.
Your dollar isn't worth 70% of what it was in 2019.
Your home insurance has at least doubled in cost, same for your car insurance, same for gas prices.
And if you are trying to buy something, you'll be paying over 7% interest, if your lucky enough to qualify for a loan.
Its not going to get better if Biden gets re-elected, the downward spiral will only accelerate... Trump might not be able to fix it, or get us out of WWIII, but he sure can't make it worse than what another 4 years of Biden will bring.Trump did not have problems with inflation. His tax cut shows good results with growing wages and more money in Americans' pockets. https://www.foxbusiness.com/markets/tru … ome-powell
I must ask again --- While it's indisputable that on January 21, 2021, U.S. Democrats gained unified control of the White House and Congress after Joe Biden's inauguration and Vice President Kamala Harris's swearing-in, alongside three new Democratic senators, there remains a question: if President Biden believed that Trump's tax laws were detrimental, why hasn't there been any effort to amend them, along with addressing the issues.
From my perspective, Biden inherited a stable economy. However, his misplaced priorities and excessive spending led to a severe downturn, almost collapsing our economy. The only commendable decision he made was to retain Powell; otherwise, the repercussions of his actions have been dire. I consider him a man with little intelligence as I think of whoever is running the show.Powell 2018..
"Recent federal tax cuts and spending increases could limit the U.S. government’s ability to combat a future economic downturn, Federal Reserve Chairman Jerome Powell said Tuesday.
“These last innovations in fiscal policy, at least in the medium term, have probably reduced the amount of fiscal space that we have to react,” Mr. Powell said at the annual meeting of the National Association for Business Economics. "
https://www.wsj.com/articles/fed-chairm … 1538517927
2019..
"Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment.
Half of corporate chief financial officers surveyed by Duke University expect the economy to shrink by the second quarter of 2020. Two-thirds expect a recession by the end of next year.
Economists who have examined the impact of the law say it isn't helping much with overall growth, business investment or worker pay. "
The Fed was already beginning to act to address inflation in 2018..
"Trump tells CNBC in an interview airing Friday morning: "I don't like all of this work that we're putting into the economy and then I see rates going up."
The Fed last month raised its benchmark rate for a second time this year and projected two more increases in 2018. Its rate hikes are meant to prevent the economy from overheating and igniting high inflation. But rate increases also make borrowing costlier for households and companies and risk weakening growth. The Fed's most recent rate hikes could dilute some of the benefit of the tax cuts Trump signed into law last year."
Trump in 2019...
"A day after considering cutting taxes to promote economic growth, President Donald Trump changed course and said he would abandon the idea because the nation already had “a strong economy.”
"Trump’s flip-flop on Wednesday came after recent market volatility and economic uncertainty, and amid a debate about whether the United States was heading for a slowdown that would imperil his reelection chances. Analysts have warned that a slowdown, if not full-blown recession, could hit before next year’s election..
There was ample warning that inflation, if not a full-blown recession was probable during the last year of Trump's term, exacerbated by his tax plan and tariffs. This is what Biden walked into on top of the disastrous effects of covid. I think it would be very short-sighted not to consider the impacts of Trump's policies on inflation.
And again, Biden did try to reverse some aspects of the plan but due to the razor thin margins, legislation was tanked by one senator... Sinema.
https://www.cnbc.com/2019/08/16/trumps- … needs.html
https://www.cbsnews.com/news/trump-not- … est-rates/
https://apnews.com/article/donald-trump … 08fed7899e"From my perspective, Biden inherited a stable economy." - ROFL a lot. I guess you forgot we were in an recession and a pandemic when Biden took over and started improving things.
It is unbelievable to me that you missed that as much as it was reported in all, including your right-wing, media outlets.Did Willow SAY that Trump had a problem with inflation?? NO! She posted opinions by the Fed chair that IF the Republican tax give away to the rich goes through, then that MIGHT lead to high inflation.
I explained why the inflation didn't happen (because Trump's tax cut failed to meet its objectives of making the economy grow or provide jobs.
Kathleen,
Has Trump faced legal conviction related to January 6th? Do you believe in the principle of innocent until proven guilty? I firmly believe in that principle, although it seems some in our society lean towards assuming guilt until proven innocent. This mindset reflects an era where people assumed the role of judge and jury, opting for public shaming that often resulted in punishment without a chance for defense. Do you perceive this method as just?I was responding to your comment, that appeared to be addressed to me. Here is the conversation
MY ESOTERIC WROTE:
Forrest Gump, if you saw the movie, was quite successful, box full of chocolates and all.
Trump is, and has proven to be, a imminent threat to America.
"Trump is, and has proven to be, a imminent threat to America."
SHARLEEO1 WROTE
Prove this statement. As always you post a comment that reads as fact, but you give no proof. Or is this your View?
KATHLEEN COCHRAN WROTE:
January 6
91 Indictments
Facts.
I only responded out of politeness. I have no problem averting your posts, hopefully, you do the same with mine. It seems evident that our perspectives don't align well.
I firmly believe that if I observe a person running a red light, I have just observed a crime. No conviction is necessary unless you want to punish the person for the crime. Nevertheless, the crime was committed (unless, of course, you think running a red light is perfectly legal and not a crime UNLESS you are convicted of it, lol)
It is obvious to everybody that is not brainwashed or highly partisan that Trump committed crimes. The fact that he has yet to be convicted doesn't change the fact that he ran the red light.
We are back to where you are denying people the right to use their own common sense, observations, and ability to analyze based on those observations to form reasoned opinions.
Here is a good article on the Price Gouging component of inflation.
https://www.cnn.com/2024/05/18/business … index.html
I like the definition proposed by Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, who says
“I define it as the use of market power to secure a higher price than what would occur with free competition,”
Personally, I add a caveat to that definition by differentiating between "necessities", like food and gas, and "nice to haves", like Taylor Swift tickets (although I am sure Swifties will disagree with me about that, lol).
One example used in the article is Taylor Swift tickets and the outrageous prices scalpers are charging. In my opinion, that is a "buyer beware" situation and is not Price Gouging.
Another example used is "dynamic pricing" used by companies like Uber. When they raise prices due to increased demand, I don't consider that Price Gouging either. Why? For a couple of different reasons: 1) the customer knows this is going to happen and 2) in most cases, there are alternatives like taxis and buses.
What is Price Gouging in my opinion is gas companies using their own form of dynamic pricing to raise and lower prices on sometimes an hourly basis, totally disconnected from cost of production, because they know the customer has no choice but to pay the price. Now, my argument would fail if there were free competition, but at least where I live, all gas stations, regardless of brand, move in lockstep. In the morning going to work, they are down 30 cents a gallon and coming home, they are up 30 cents (sometimes 40),
The price of food, in my opinion, is way too high due to the lack of real competition. When the supply chains were in disarray and Putin was driving up the price of oil and grain, there was good reason for inflation to take hold. BUT, when those pressures subsided, prices should have fallen - but they didn't very much. Why, because corporations saw they could keep charging high prices and keep the record profits; there was no incentive to bring prices back down in line with costs and demand.
Should food cost more than it did prior to the pandemic? Of course it should, the production costs have not gone back to pracademic levels. That includes the labor portion of the cost of production which has now almost matched the cumulative increase in inflation (it should exceed inflation by the end of 2024).
https://www.cnn.com/2024/05/18/business … index.htmlTarget Stores is feeling the anti-inflation pressure from consumers and is lowering the prices on 5,000 items. I bet their Record profits turn into Near Record Profits while consumers get a well deserved break from corporate greed caused inflation.
https://www.cnn.com/2024/05/20/business … index.htmlIt isn't corporate greed that causes inflation. It is Biden & the Democratic Party which caused inflation. Prices have risen astronomically since Biden became President. There was no problem w/inflation when Trump was President.
Just a note for those of you who don't have a good handle on inflation but wished you did.
KEY TAKEAWAYS (from the Fed)
The Federal Reserve appears poised to cut its key interest rate as inflation slowly falls and the job market steadily worsens.
The Fed, which is looking for more evidence that inflation is under control, will likely cut the benchmark fed funds rate long before prices start falling.
The central bank seeks to cool down inflation, but not by so much that prices start going down, since deflation usually goes along with a recession and job losses.
My comment on the last point is you don't want a broad-based decline in prices similar to the increase we recently experienced. Rather, those that are overpriced due to greed need to come down.C'mon man. It is Biden & the Democrats that are causing inflation. When Trump was President, there was NO INFLATION. The Democratic Party isn't for the middle class. The Democratic Party has become the party of the very wealthy. The Democratic Party don't care about the problems of the middle class whatsoever. It is the Democratic Party's policies which are decimating the middle class & reducing many of the middle class to either lower class status & even penury.
Inflation is caused most often by demand exceeding supply. Other times, it is by injecting too much money into the economy such as what Trump did in his response to the pandemic. Never does corporate greed CAUSE inflation, but it does keep it going for certain products like food and energy supplies as it has done in this instance.
I could be unfair like others are and say the supply problems were caused by Trump when he shut the economy down and by Biden when he brought the economy back. But, that is not the truth. The TRUTH lies mainly with the Chinese shutting down their economy and disrupting the supply chain long after there was a need for it. The ramifications of that spread around the world.
When the economies of the world did bounce back and demand increased, the supply wasn't able to because, primarily, from 1) of the disruptions China caused not increasing the supply of goods and 2) the inability for the logistics systems to move what supplies there were too market. In terms of gas prices, Putin has a lot to do with that with his war in Ukraine.
But none of that matters to the brainwashed.LOLOLOLOLOLOLOLOL
Always Trump, right!?!? Trump injected some money...and no inflation. So Brilliant Biden did it again, and then again. Not able to understand that a little is all right, but too much WILL bring about inflation, he just kept adding to demand while decreasing supply. And lo and behold, we saw massive inflation.
It wasn't because economies of the world bounced back; it was because Biden and other governments gave out massive amounts of cash (demand) while limiting supply (closing businesses). Nor did Putin cause it (although he has certainly added to it in the energy sector); the foundation was laid and it was happening before Putin invaded Ukraine.
So you blame Trump for what Biden caused. But none of that matters to the TDS crowd; when something, anything at all, can be laid at Trump's feet, true or false, real or pretend, it will be done.LOLOLOLOLOLOLOLOLOLOL ROFL back at you.
You really need to get your facts and timeline straight before jumping in.
It would also help you would read what was written instead of choosing just a couple of words from it and then going off on a tangent.
Here is why most of us don't believe you - you say FALSE things such as
"Trump injected some money...and no inflation. So Brilliant Biden ..."
Let's look at the facts you choose to ignore -
* Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 - TRUMP - $8.3 billion
* Families First Coronavirus Response Act of 2020 - TRUMP $225 billion (That is 2 for Felon and Sexual Predator Trump and none for Brilliant Biden)
* CARES Act of 2020 - TRUMP $2.2 trillion. (That is 3 for Felon and Sexual Predator Trump and none for Brilliant Biden)
* Paycheck Protection Program and Health Care Enhancement Act of 2020 - TRUMP $483 billion (That is 4 for Felon and Sexual predator Trump and none for Brilliant Biden)
* Consolidated Appropriations Act, 2021 (actually, Dec 2020) - TRUMP $920 billion. (That is 5 for Felon and Sexual predator Trump and none for Brilliant Biden)
* American Rescue Plan, 2021 - Biden $1.2 trillion. (That is 5 for Felon and Sexual predator Trump for a total of (wait for it) $3.8 trillion and 1 for a total of $1.2 trillion for Brilliant Biden)
And that is it, no more money from Biden. So where is this "again and again" you claim to be true?
Here is the logic I don't understand, maybe you can explain it to me. Trump spends THREE TIMES as much as Biden and within mere months of the American Rescue Plan yet you blame Biden for inflation? Now tell me please, who gave out "massive amounts of CASH"? It certainly wasn't Biden.Let's move on to another FALSE claim of yours - " it was because Biden ... while limiting supply (closing businesses). "
FACTS FIRST! Biden didn't close down a single business!!! Neither did Trump. States like California and Florida did, and rightly so.
What Trump did do was move heaven and earth to get those life-saving business closures open again way too soon (April 2020). Because of this he did two things: 1) started increasing demand before the supply was ready and 2) cost thousands of people their lives because he stopped people from isolating from each other, the only sure way to prevent contracting the disease. Consequently, the contagion spread faster than it otherwise might have.
By the time Biden took office, demand was already increasing while supply lagged. It just got worse as time went on. Inflation was inevitable. If Trump had won, he would have been wrongly blamed for it as well and you know that to be true.We haven't even begun to feel the pain the Biden Administration has caused.
It was only this past June that Saudi Arabia decided they would no longer trade Oil in the Dollar.
Do you know what Saudi Arabia used to do with those Trillions of dollars they made from selling oil in the Dollar?
They reinvested those dollars into America... American Bonds, Treasuries, Military Equipment, Stocks (of American Companies) etc.
You can say the exact same thing for the United Arab Emirates., who also no longer trade oil in the Dollar.
And of course Russia no longer trades oil in the Dollar, nor do they sell cheap oil or gas to the EU, which impacts their economy, which impacts us.
Nothing like pushing former allies into joining with our enemies...
Speaking of enemies, nothing better than releasing billions to those committed to destroying America, like Biden did for Iran...
All those Trillions Biden added to our Debt... did it make food cheaper... energy cheaper... houses more affordable???
Well then, I guess those Trillions went to something else other than helping the American people.
At least the Biden Administration worked hard to bring in migrants to fill all those jobs Americans were unwilling to do... including thousands of jobs Americans used to do, that they got laid off from, that were given to migrants, but you know, can't tell the American people that.As to the false claim that the American Rescue Plan (small in comparison to Trump's massive giveaways) caused the inflation we say, let me offer this refutation for probably the third time.
When I asked ChatGPT the following: "Did the American Rescue Plan cause the inflation in 2021 with sources", I got this answer:
The American Rescue Plan (ARP) did contribute to inflation in 2021, but it was not the sole or primary cause (as you say it is). Various factors played roles in the inflation observed during that period.
Key Points:
Impact of ARP:
The ARP did add to inflation, but estimates suggest it contributed around 0.3% to 0.35% to the overall 9.1% inflation rate (The American Presidency Project) (Chicago Fed). This contribution is considered modest compared to the total inflation experienced.
Broader Causes of Inflation:
Pandemic-related supply chain disruptions significantly impacted goods availability, pushing prices up (FactCheck.org).
Increased demand for goods over services due to pandemic restrictions strained supply chains further (FactCheck.org).
The labor market faced disruptions with workers out sick or not willing to return to certain jobs, exacerbating supply issues (FactCheck.org).
Other Contributing Factors:
The Russia-Ukraine conflict in 2022 further affected global energy prices, contributing to inflation beyond what was initially caused by the ARP (FactCheck.org).
A global pattern of inflation was observed, indicating that external factors played significant roles alongside domestic policies like the ARP (FactCheck.org).
In summary, while the ARP did contribute to inflation, it was a small part of a larger picture involving supply chain issues, labor market disruptions, and international events.
Which is what I have been saying all along that you won't believe. Hopefully, this helps you your understanding of the real cause and effects.You may take the AI generated answers as gospel - I expect that is natural for a far left liberal reading comments from a far left machine. But I do not.
"ChatGPT’s Strong Left-Wing Political Bias Unmasked by New Study" https://scitechdaily.com/chatgpts-stron … %28UEA%29.
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