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Started By
Message
re: Inflation rises 7% over the past year, highest since 1982
Posted on 1/12/22 at 9:45 am to SlowFlowPro
Posted on 1/12/22 at 9:45 am to SlowFlowPro
Why not?
0
Posted on 1/12/22 at 9:45 am to Dawgwithnoname
quote:
Why?
Look at our debt in the early 80s (before Reagan made printers go Brrrr) and our debt today.
Think about what interest rate increases will mean towards servicing that debt.
Posted on 1/12/22 at 9:48 am to SlowFlowPro
Sorry SuperSaint, your statement
quote:while true, does not fit the narrative, "everything bad is Biden's fault", all the trump sheep like to parrot on this board.
Inflation happens when you print money which the last 4+ administrations excelled at doing
Posted on 1/12/22 at 9:49 am to Grievous Angel
quote:
printing all this money feels like an almost deliberate way to take money from people who have it (eroding wealth) and giving it to people who don't (inflation makes mortgages/student loans effectively smaller).
While inflation is a massive problem, I think it’s kind of an odd take that mortgages becoming “effectively smaller” would be considered an erosion of wealth, considering property equity is historically the largest driver of middle class wealth accumulation.
Non-real property equity is certainly getting tanked, though.
Posted on 1/12/22 at 9:52 am to RLDSC FAN
quote:Well if we were using the 1982 calculation, it would be the highest since the 1940s.
highest since 1982
This post was edited on 1/12/22 at 9:52 am
Posted on 1/12/22 at 9:52 am to SlowFlowPro
quote:
We can't really do that this time
There's only one way for this to be actually fixed. Everything else is a band-aid.
Too many Band-Aids and you get an uncontrolled collapse. We're getting close to that now.
Mixing metaphors: this is a bubble that's been reinflated too many times. Each time it takes twice as much fake money as the last to reinflate.
TARP: 787 billion plus another trillion in bailouts followed by 10 years of "QE"
The collapse that began right about when covid "hit" is a result of all that previous "fixing."
How much have we spent since Jan 2020?
More than 2008 in just 2y.
That bubble is a real bitch to reinflate.
Those interested in this stuff: check out Economics in One Lesson by Henry Hazlitt. It's a free book from Mises.org.
This post was edited on 1/12/22 at 9:58 am
Posted on 1/12/22 at 9:53 am to Ajo Devil
quote:
while true, does not fit the narrative, "everything bad is Biden's fault", all the trump sheep like to parrot on this board.
What good has Biden done in the last year? How much longer we gonna keep bringing up the orange man as teh scapegoat?
Just like yall did with Obama, everything is somehow the previous republican's fault,
Posted on 1/12/22 at 9:53 am to RLDSC FAN
quote:
US #inflation rises to 7% in December, highest level in 39 years.
Gasoline: 49.6%
Beef: 18.6%
Pork: 15.1%
Chicken 10.4%
Fresh fish: 10.2%
Oranges: 9.9%
Furniture: 13.8%
Dresses: 8%
Jewelry: 8.8%
New cars: 12%
Used cars: 37.3%
Hotels: 27.6%
Car rental: 36%
LINK
Posted on 1/12/22 at 9:55 am to RLDSC FAN
Put that money printer on overdrive. That will fix everything.
Posted on 1/12/22 at 9:57 am to fallguy_1978
quote:
They changed the way the calculate it now or it would be much higher than 7%.
Kind of like how Louisiana changed how they grade public schools so they don't look as shitty
Posted on 1/12/22 at 9:58 am to LNCHBOX
quote:
What good has Biden done in the last year? How much longer we gonna keep bringing up the orange man as teh scapegoat?
Just like yall did with Obama, everything is somehow the previous republican's fault,
Biden is just a puppet. He's not running the country. Biden can't remember what he had for breakfast this morning. They just push him out there and hope he doesn't say anything too stupid.
This post was edited on 1/12/22 at 9:59 am
Posted on 1/12/22 at 10:01 am to whatiknowsofar
quote:
Or maybe when you shut a country down for a year things don't magically return to normal for a while.
who led the charge in shutting the country down? who led the charge in enforcing vaccine mandates? who pushed panic and fear over COVID for 2+ years?
Posted on 1/12/22 at 10:04 am to SlowFlowPro
quote:it would be fair to place at least some of the blame for this on state govenors and other more local polticians refusing to re-open and whatnot, would it not?
Um, a lot of this inflation is from all the printing done under Trump
Posted on 1/12/22 at 10:05 am to RLDSC FAN
“Don’t worry, we got this.”
Posted on 1/12/22 at 10:12 am to GreatLakesTiger24
No because state governors have no effect on money supply.
The last two years, and yes, that includes Trump and Congress, blew up the money supply by 40%. Too many dollars chasing too few goods and services.
Classic case of inflation while you economic idiots get lost in logical labyrinths trying to explain it away.
The last two years, and yes, that includes Trump and Congress, blew up the money supply by 40%. Too many dollars chasing too few goods and services.
Classic case of inflation while you economic idiots get lost in logical labyrinths trying to explain it away.
Posted on 1/12/22 at 10:14 am to prplhze2000
quote:right, but couldn't you argue they forced the hand of those who can effect the money supply?
No because state governors have no effect on money supply.
This post was edited on 1/12/22 at 10:15 am
Posted on 1/12/22 at 10:15 am to prplhze2000
that’s still only one part of the inflation picture …
Posted on 1/12/22 at 10:46 am to RLDSC FAN
Has there even been a "deflation" after a period of inflation? Does the "free market" ultimately cause a deflation due to competition?
Posted on 1/12/22 at 10:49 am to Civildawg
quote:
Yep we are screwed. I wasn’t alive during 1982 but how were they able to deflate the inflation then? Seems like the cat is out of the bag and we won’t be seeing any deflation of current prices
Well if you like 10-14% home and car loans you are in for a treat!
Posted on 1/12/22 at 11:01 am to RLDSC FAN
Inflation is up 7% but the Dollar Tree raised their prices by 25%. Really makes you think…
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