re: So did the fed really fix inflation or did the supply chain problem etc just fade out

quote:

---

how are the mortgage rates? Wages? Cost of everything? All seem to suck

---

Household wealth is at all time high so it appears as though people have adjusted.

“White supremacy is the greatest threat to this nation”

It was never fixed so here we are. You can start from that top statement.

quote:

---

Household wealth is at all time high so it appears as though people have adjusted.

---

Continually adding money to the economy temporarily will do that.

It also devalues your money and your worth. We're playing with monopoly money, the current policy is to kick the can down the road.

We need new leadership

My house value has skyrocketed, but I could never afford to move since I could not buy anything close to my current home with interest rates where they are. On top of that, I have effectively had wage reduction even though I have had raises the past two years since they do not cover any of the increase in expenses that I routinely pay (food and clothes).

The world is turned up side down, and the only thing keeping the economy going is credit card debt. We are built like a deck of cards and I dont see how this ends well for anyone.

quote:

---

This marks the second consecutive quarter in which Americans’ credit card balances topped $1 trillion, which had never happened prior to the second quarter of 2023

---

Lending Tree Credit Report

quote:

---

Member when we actually went into a recession and Brandon got pumped full of Adderall, got on TV, said "That's not true, we are NOT in a recession", and nobody told him that the numbers that define a recession say we are?

---

Yup. After decades, probably even centuries, of universal agreement about what constituted a "recession," all of the sudden our leftist nitwit overlords decided it was a subjective term. It's like, oh, if the economy is just really, really bad (whatever the frick that means) then we're in a recession.

They didn't think the economy was actually that bad. I tended to agree, but the numbers said "recession."

Gonna get a lot worse.

So did the fed really fix inflation or did the supply chain problem etc just fade out
quote:
Member when we actually went into a recession and Brandon got pumped full of Adderall, got on TV, said "That's not true, we are NOT in a recession", and nobody told him that the numbers that define a recession say we are?


Yup. After decades, probably even centuries, of universal agreement about what constituted a "recession," all of the sudden our leftist nitwit overlords decided it was a subjective term. It's like, oh, if the economy is just really, really bad (whatever the frick that means) then we're in a recession.
__________________

Prove it. What numbers showed we were in a recession?

I don't like Biden, but we were never in a recession. You and the guy you are replying to are making shite up.

Volcker actually is the one that cranked rates up to 15% saying we had to do whatever was necessary to reduce inflation.

After the 2008 bank meltdown, we've had 15 years of near zero percent interest rates along with monetary expansion through what the fed called quantitative easing. economists would say this debt increase and qe was not inflationary. now we now it is. the pandemic lit the fuse. zero percent int rates and money printing pushed up asset prices; stock market and real estate prices. the pandemic resulted in supply chain issues and labor force participation reduction through the ppp program. Wage increases resulted in almost a WAGE PRICE SPIRAL. At one point there were 2 jobs posted for everyone 1 applicant looking. materials were in short supply on allocation with prices increasing monthly. inflation shot up to double digits. Powell was wrong when he said inflation was temporary.

so, they increased rates, ending the QE programs and started saying govt needed to stop deficit spending. through layoffs, supply chain improvement and suppressed real estate market, inflation is now moving back towards govt target. but, as others have said, it's not DEflation.

effectively, the 15 year period of zero interest rates is over and we're back to pre banking crisis int rates, inflation, etc. Historically speaking they aren't that high.