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Is there one Biden voter who can explain how increased deficit spending reduces inflation?
Posted on 7/22/21 at 11:32 am
Posted on 7/22/21 at 11:32 am
I listened to that video clip of Whispering Joe telling his audience paraphrased,
“My $3.85 trillion infrastructure bill will actually lower inflation by providing good paying jobs..blah, blah, blah.”
There’s no need to provide any additional details to the BS Joe said in that nonsensical statement because it was NONSENSICAL!!
Now, I challenge any Biden voter to decipher, translate, spin that insane comment from Biden that trillions in deficit spending will lower inflation….I’ll be here all day and evening. Lol!
“My $3.85 trillion infrastructure bill will actually lower inflation by providing good paying jobs..blah, blah, blah.”
There’s no need to provide any additional details to the BS Joe said in that nonsensical statement because it was NONSENSICAL!!
Now, I challenge any Biden voter to decipher, translate, spin that insane comment from Biden that trillions in deficit spending will lower inflation….I’ll be here all day and evening. Lol!
10
Posted on 7/22/21 at 11:36 am to Bass Tiger
Take more than a day.
Posted on 7/22/21 at 11:37 am to Bass Tiger
You will not hear a word!
Posted on 7/22/21 at 11:38 am to Bass Tiger
quote:I mean, inflation has been low/non-existent for years (decades) with nothing but increased deficit spending. It's mostly just a non sequitur.
Is there one Biden voter who can explain how increased deficit spending reduces inflation?
Posted on 7/22/21 at 11:40 am to Big Scrub TX
quote:
inflation has been low/non-existent for years (decades)
Interesting. So all of the "increase the minimum wage" arguments are wrong?
Posted on 7/22/21 at 11:41 am to Bass Tiger
It's the kind of Stranger Things Upside Down economics that gives us higher wages will cause prices to go down. Asterisk said as much earlier in the week
This post was edited on 7/22/21 at 11:43 am
Posted on 7/22/21 at 11:42 am to Big Scrub TX
quote:
quote:
Is there one Biden voter who can explain how increased deficit spending reduces inflation?
I mean, inflation has been low/non-existent for years (decades) with nothing but increased deficit spending. It's mostly just a non sequitur.
Well folks, that’s ^^^^ as good as it’s gonna get, as real estate prices surge, food prices surge, automobile prices surge, energy prices surge…Didn’t Whispering Joe tell illegal immigrants to surge the border?
The American Marxists like the word surge. Pitiful!
This post was edited on 7/22/21 at 11:45 am
Posted on 7/22/21 at 11:53 am to Bass Tiger
I think its the same logic that he and President Obama used to calculate that the ACA would drive down medical costs.
Posted on 7/22/21 at 11:55 am to Bass Tiger
quote:
sageIs there one Biden voter who can explain how increased deficit spending reduces inflation?
No. If someone voted for Biden they are an idiot.
Posted on 7/22/21 at 12:04 pm to imjustafatkid
quote:I'm not sure what you are asking. I'm certainly against minimum wage laws.
Interesting. So all of the "increase the minimum wage" arguments are wrong?
Posted on 7/22/21 at 12:06 pm to Bass Tiger
quote:wut
Well folks, that’s ^^^^ as good as it’s gonna get, as real estate prices surge, food prices surge, automobile prices surge, energy prices surge…Didn’t Whispering Joe tell illegal immigrants to surge the border?
The American Marxists like the word surge. Pitiful!
Have you watched the past 20 years? Until the past year, the hand-wringing has been over the complete inability of the Fed to generate even 2% inflation. Are you seriously arguing that deficit spending didn't increase in many of those years?
Posted on 7/22/21 at 12:21 pm to Big Scrub TX
quote:
I'm not sure what you are asking. I'm certainly against minimum wage laws.
The argument I hear most often is that minimum wage needs to be tied to inflation because wages aren't increasing with inflation.
Posted on 7/22/21 at 12:24 pm to imjustafatkid
quote:To the extent that minimum wage laws exist, it would seem intelligent to index them to inflation.
The argument I hear most often is that minimum wage needs to be tied to inflation because wages aren't increasing with inflation.
Posted on 7/22/21 at 1:03 pm to Big Scrub TX
quote:
quote: The argument I hear most often is that minimum wage needs to be tied to inflation because wages aren't increasing with inflation.
To the extent that minimum wage laws exist, it would seem intelligent to index them to inflation.
With this ^^^ type of thinking, do you believe all retirement savings that are not in equities/bonds/REITs should be indexed to inflation? How many trillions of dollars would flow out of the equity markets if the money earned and saved was not being destroyed by inflation and near zero interest rates? If interest rates were to normalize to the 3-5% range, trillions of dollars would go into interest bearing accounts if there was inflation protection for money market/savings account/CDs.
Posted on 7/22/21 at 1:06 pm to Bass Tiger
quote:How might I go about "indexing" my retirement savings?
With this ^^^ type of thinking, do you believe all retirement savings that are not in equities/bonds/REITs should be indexed to inflation?
quote:I'm not sure what point you're trying to make. But the 10 year has plummeted AGAIN and IN SPITE of this bout of inflation we are in.
How many trillions of dollars would flow out of the equity markets if the money earned and saved was not being destroyed by inflation and near zero interest rates? If interest rates were to normalize to the 3-5% range, trillions of dollars would go into interest bearing accounts if there was inflation protection for money market/savings account/CDs.
Posted on 7/22/21 at 1:19 pm to Big Scrub TX
That’s because you’re lacking reading comprehension, I didn’t say index all of an individual’s retirement savings/portfolio, I said inflation protection for interest bearing accounts.
Since the financial meltdown of 2009/2010 prudent savers have been the victims of ZIRP or near ZIRP monetary policy. Currently a money market/savings account is not much better than burying money in your backyard with regards to interest earnings. If you check current money market rates it’s hard to find one paying over .4% for $1,000,000 yet inflation is in all likelihood going to hit 10% this year. Some simple math reveals if you’re holding $1,000,000 in cash with a .4% interest rate you just lost over $95,000 to inflation.
This low interest rate monetary policy has forced retirees into higher risk investments and if shite hits the fan in equities and real estate there’s a lot of retirees who are gonna be shell shocked.
Since the financial meltdown of 2009/2010 prudent savers have been the victims of ZIRP or near ZIRP monetary policy. Currently a money market/savings account is not much better than burying money in your backyard with regards to interest earnings. If you check current money market rates it’s hard to find one paying over .4% for $1,000,000 yet inflation is in all likelihood going to hit 10% this year. Some simple math reveals if you’re holding $1,000,000 in cash with a .4% interest rate you just lost over $95,000 to inflation.
This low interest rate monetary policy has forced retirees into higher risk investments and if shite hits the fan in equities and real estate there’s a lot of retirees who are gonna be shell shocked.
This post was edited on 7/22/21 at 1:53 pm
Posted on 7/22/21 at 1:27 pm to Bass Tiger
quote:
energy prices surge…
Gas prices were higher in 2008 than they are now and that's not adjusting for any inflation
At peak they were 30% higher than they are now
Autos should become more affordable once we get beyond the chip shortage. The quality of automobiles is also ridiculous now.
Posted on 7/22/21 at 1:30 pm to Jax-Tiger
quote:
I think its the same logic that he and President Obama used to calculate that the ACA would drive down medical costs.
Must be… just got my renewal and our blue cross blue shield plan is going to have an 8.7% rate increase….
Posted on 7/22/21 at 1:43 pm to Bass Tiger
The real answer is that the marginal revenue product of debt is so low because the spending is unproductive that the deflationary burden of servicing the debt overpowers the inflationary effects of the increase in the supply of money. I think that rate becomes negative at increasing rates when government debt to GDP surpasses 35%ish from what I've read.
This post was edited on 7/22/21 at 1:44 pm
Posted on 7/22/21 at 1:45 pm to Bass Tiger
Increased deficit spending does not reduce inflation.
I'm a Biden voter and I'll say that.
However, inflation isn't really a problem. Central banks can easily respond to inflation by increasing rates.
It's not really anything that troublesome. I've said this before but deflation is the real enemy of central banks. Central banks have very little ammunition left to tackle deflation.
Inflation is better than deflation. Historically, central banks have failed to meet inflation targets so inflation isn't really going to be a big problem in my opinion.
I'm a Biden voter and I'll say that.
However, inflation isn't really a problem. Central banks can easily respond to inflation by increasing rates.
It's not really anything that troublesome. I've said this before but deflation is the real enemy of central banks. Central banks have very little ammunition left to tackle deflation.
Inflation is better than deflation. Historically, central banks have failed to meet inflation targets so inflation isn't really going to be a big problem in my opinion.
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