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re: Powell no longer believes inflation will reduce
Posted on 5/14/24 at 12:58 pm to RaoulDuke504
Posted on 5/14/24 at 12:58 pm to RaoulDuke504
All Powell has to do to curtail inflation is publicly telling POTUS and Congress to stop spending money. Stop creating more debt. Stop trying to fix everything by throwing govt money at it.
1
Posted on 5/14/24 at 1:04 pm to Tomatocantender
quote:I’ve seen it reported about an estimated 24% inflation increase (it’s definitely higher) in the 3.5 years Biden has been in office. He has devastated the middle class. His administration is a train wreck. Nice try covering for him though.
It did? Inflation was at 1.4% in Jan. 2021 when Biden took office. The last 4 years is on him. Nice try though.
This post was edited on 5/14/24 at 1:05 pm
Posted on 5/14/24 at 1:09 pm to wutangfinancial
quote:
the real economy happened during that time period.
That economy was so real that rates had to be at 0 % and you still had minimum negligible growth. Boom, POTUS Trump gets elected, not only do they have to raise rates, they have to scream "Pandemic" for all to hear in order to SHUT THAT REAL ECONOMY DOWN!!
Since you say qe has no economic impact, please convince Powell to lower rates to 0 % and start injecting 80 billion dollars a month into Joey's economy.
Posted on 5/14/24 at 1:10 pm to RaoulDuke504
AUDIT THE FED
Posted on 5/14/24 at 1:11 pm to dcrews
quote:
Seems the older generations enjoyed plenty of economic prosperity at the same age, yet are asking the younger generations to do away with those same things just to survive.
The older generation didn't live in urban areas at near the same rate as people today. Living gets a lot less expensive when you leave the urban centers. Kids today think they should be able to afford a nice place in the NYC at their first job making $75k, which is just idiotic
This post was edited on 5/14/24 at 1:24 pm
Posted on 5/14/24 at 1:12 pm to ragincajun03
quote:These inflation numbers are smoke and mirrors kind of like unemployment (excluding working age people who can work, but just refuse to). No way inflation is 18% over the last 3 years. There is no damn way. Must be doctoring the numbers and everyone not living under a rock knows it.
Average Inflation Rate per Year: 2000: 3.4 2001: 2.8 2002: 1.6 2003: 2.3 2004: 2.7 2005: 3.4 2006: 3.2 2007: 2.8 2008: 3.8 2009: -0.4 2010: 1.6 2011: 3.2 2012: 2.1 2013: 1.5 2014: 1.6 2015: 0.1 2016: 1.3 2017: 2.1 2018: 2.4 2019: 1.8 2020: 1.2 2021: 4.7 2022: 8.0 2023: 4.1
Posted on 5/14/24 at 1:13 pm to RaoulDuke504
quote:The current economy isn't letting them retire
They also refuse to retire or bring in young people to learn their career and trades in fear of being replaced.
Posted on 5/14/24 at 1:14 pm to fwtex
quote:
All Powell has to do to curtail inflation is publicly telling POTUS and Congress to stop spending money. Stop creating more debt. Stop trying to fix everything by throwing govt money at it.
No. That's not enough. He also needs to write a strongly worded letter to Congress and Biden.
Posted on 5/14/24 at 1:16 pm to RaoulDuke504
You are a Gen Z gay bitch
Posted on 5/14/24 at 1:17 pm to BearCrocs
quote:
Tell me how someone making 50k a year can afford:
Rent/Mortgage
Car Payment
Groceries
Basic necessities of life.
Wages sure as hell are not going up!
And to think, just 4 short years ago a household income of $100k was a decent income.
Imagine being one of the Dim Drones who voted for this horse shite, trying to convince themselves everything is so much better now that OMB has been dealt with.
Posted on 5/14/24 at 1:26 pm to 4cubbies
quote:
4cubbies
quote:
150k if you have a kid
Seriously?!?!?! You voted for this shite so kindly, please frick off!!
Posted on 5/14/24 at 1:26 pm to Timeoday
quote:
please convince Powell to lower rates to 0 % and start injecting 80 billion dollars a month into Joey's economy.
Yeah, this is exactly how I know you don't know what you're talking about.
quote:
That economy was so real that rates had to be at 0 % and you still had minimum negligible growth
Rates were low BECAUSE of the negligble growth and inflation expectations of the banking sector. It's the clear cut sign that credit is tight.
Posted on 5/14/24 at 1:27 pm to ronricks
quote:
The inflation we have experienced the last 3 years is BOTH Biden and Trump's fault. One started it the other kept the fire going.
Trump's economic policies would have kept inflation manageable. It was Biden’s policies that sent us down the path of sustained inflation.
Posted on 5/14/24 at 1:56 pm to wutangfinancial
quote:
Yeah, this is exactly how I know you don't know what you're talking about.
Sarcasm says hello. Meanwhile, I get to laugh at those who still do not understand it has been here. It being
S T A G F L A T I O N !!!!! !!!!!
Posted on 5/14/24 at 1:58 pm to RaoulDuke504
It's not an issue. The Democrats simply need to keep removing anything inflationary like coffee from the inflation calculation. 
Posted on 5/14/24 at 2:04 pm to GurleyGirl
Wholesale prices increased in this report.
Posted on 5/14/24 at 2:32 pm to AgSGT
quote:
The older generation didn't live in urban areas at near the same rate as people today. Living gets a lot less expensive when you leave the urban centers. Kids today think they should be able to afford a nice place in the NYC at their first job making $75k, which is just idiotic
More vague generalities.
The economy is not the same as it was for previous generations.
Again, older generations will tell people to eat out of the garbage and live in a 30 year old car before they'll utter one word about wages remaining stagnant while inflation and cost of living continue to soar year after year.
Cost of living as a percentage of income is higher than it was for older generations. The failure to acknowledge this is why people hate boomers.
This post was edited on 5/14/24 at 2:33 pm
Posted on 5/14/24 at 2:34 pm to AgSGT
quote:
The current economy isn't letting them retire
Have they considered not eating avocado toast and possibly working harder?
Posted on 5/14/24 at 2:38 pm to TenWheelsForJesus
quote:
Trump's economic policies would have kept inflation manageable
Trump's spending and policies are part of the reason why we are where we are at right now. I almost hope Trump wins in November if for no other reason than to see the melt on here when the costs of goods and services do not go down under Trump. Trump likes to spend he spent nearly 8 trillion in 4 years and will spend another 8 to 10 trillion if he is elected in November. Neither Trump nor Biden have the actual policies to lower inflation because both of them like to spend to try and prop things up.
Posted on 5/14/24 at 2:48 pm to dcrews
quote:
Have they considered not eating avocado toast and possibly working harder?
Or maybe they had a plan for when and how they were going to retire and the change in the economy forced them to rethink that plan if they want to live the same lifestyle. Can't fault them for that.
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