Janet Yellen blames Americans' 'splurging' for record-high inflation

[vraiblonde]

Why does everyone answer with "I PERSONALLY don't know anyone....." Do you look around when you are away from your home? Do you read or listen to the news? Do you not see a great many people driving around in new cars? Do you not watch sporting events? Do you not hear or read about sold-out performances?

I am a normal average everyday person. The vast majority of my friends and family are the same. People I interact with on a casual daily basis are largely normal everyday.

I don't see a lot of people driving around in new cars. I do hear them gasping about the cost of groceries and gas for their car, not to mention their heating bill and the price of real estate. I don't hear them all excited about their concert tickets and I know not one single person who is watching sporting events at Madison Square Garden.

What are you personally seeing?

Because the news is telling me that scalpers are getting $30k for Taylor Swift tickets and wearing Balanciaga couture, but I'm going to guess that those aren't normal average everyday people that make up the majority of Americans.

Perhaps you run in tonier circles than I do. Maybe all those car ads showing some guy surprising his wife with not one but TWO cars, maybe that's you and the people you know. But it's not me or mine. In my world couples discuss car purchases, take test drives, and come to an agreement - they don't run out and buy one as a gift.

 

[LightRoasted]

For your consideration ...

The dollar is losing value on some things and gaining value on others. Why, do you leave this little fact out?

Oh pray tell what those might be?

The dollar is losing value across the board. Only being made to look as if it is gaining, for other countries mandated continued use, backed by our armed forces.

Who cares WHY? When your power goes out, does it matter if a tree fell on the line or a transformer blew? What I’m dealing with is loonies telling me my power is not only ON but it’s also better than it used to be.

You should. Everyone should. Everyday that passes the dollar loses more and more value, which means, purchasing power is being stolen from you by the reckless expansion of the money supply. Call it an hidden tax, which it is that goes straight to an un-elected body of private bankers. The reason is because of a private banking cartel. Don't you want to know the WHY? Or do you prefer to continually stick your head in the sand?

It's been 51 years since Nixon ended the Bretton Woods Agreement, and convertibility to gold of other countries reserve dollars, just by the stroke of his pen. The history is there. The information is there showing us the effect just that one decision has had on the Nation. Since then, there an been an exponential increase of the money supply which ultimately gets reflected in prices of everything. This kind of thing is not normal, and would not happen in a Constitutionally backed strong sound monetary system.

Below is the reason prices are going up across every category.

Notice after the time of 1971, the money supply really gets going?

Notice the CPI, aka price inflation, after 1971, really starts to get going?

 

[HemiHauler]

The dollar is losing value on some things and gaining value on others. Why, do you leave this little fact out?

Not really. The only measure of the "strength" of a dollar is how is performs against other currencies. On that measure, the US dollar is stronger than it's been in a generation. The fact that it has less buying power is inconsequential to that fact.

 

[HemiHauler]

For your consideration ...



Oh pray tell what those might be?

The dollar is losing value across the board. Only being made to look as if it is gaining, for other countries mandated continued use, backed by our armed forces.



You should. Everyone should. Everyday that passes the dollar loses more and more value, which means, purchasing power is being stolen from you by the reckless expansion of the money supply. Call it an hidden tax, which it is that goes straight to an un-elected body of private bankers. The reason is because of a private banking cartel. Don't you want to know the WHY? Or do you prefer to continually stick your head in the sand?

It's been 51 years since Nixon ended the Bretton Woods Agreement, and convertibility to gold of other countries reserve dollars, just by the stroke of his pen. The history is there. The information is there showing us the effect just that one decision has had on the Nation. Since then, there an been an exponential increase of the money supply which ultimately gets reflected in prices of everything. This kind of thing is not normal, and would not happen in a Constitutionally backed strong sound monetary system.

Below is the reason prices are going up across every category.

Notice after the time of 1971, the money supply really gets going?

Notice the CPI, aka price inflation, after 1971, really starts to get going?

This is what MMT looks like in a highly planned economy. Get used to it.

 

[phreddyp]

For your consideration ...



Oh pray tell what those might be?

The dollar is losing value across the board. Only being made to look as if it is gaining, for other countries mandated continued use, backed by our armed forces.



You should. Everyone should. Everyday that passes the dollar loses more and more value, which means, purchasing power is being stolen from you by the reckless expansion of the money supply. Call it an hidden tax, which it is that goes straight to an un-elected body of private bankers. The reason is because of a private banking cartel. Don't you want to know the WHY? Or do you prefer to continually stick your head in the sand?

It's been 51 years since Nixon ended the Bretton Woods Agreement, and convertibility to gold of other countries reserve dollars, just by the stroke of his pen. The history is there. The information is there showing us the effect just that one decision has had on the Nation. Since then, there an been an exponential increase of the money supply which ultimately gets reflected in prices of everything. This kind of thing is not normal, and would not happen in a Constitutionally backed strong sound monetary system.

Below is the reason prices are going up across every category.

Notice after the time of 1971, the money supply really gets going?

Notice the CPI, aka price inflation, after 1971, really starts to get going?

Do you really NOT KNOW about the great currency Oppurtunites that have been in place all of 2021 and 2022 or is just your fear and paranoia in the forefront again!

 

[OccamsRazor]

So I am not sure what point you are trying to make, but if it's somehow that the economy is doing great and everyone has money to burn, you're gonna have to come up with better than that. I know my family's budget, and I know what I am paying NOW.

Who said that EVERYONE is prospering right now? Or, that EVERYONE is spending like mad?? My point is that there are still quite a lot of people today that are spending like there is no tomorrow on items with very inflated prices. Although most of US are watching our budgets and feeling the pain of this economy, it is undeniable that there are MANY people that are still buying, consuming, etc. and practically tossing their money out of the window. THAT is what is keeping the price of food, entertainment, and other items so high.

 

[HemiHauler]

Who said that EVERYONE is prospering right now? Or, that EVERYONE is spending like mad?? My point is that there are still quite a lot of people today that are spending like there is no tomorrow on items with very inflated prices. Although most of US are watching our budgets and feeling the pain of this economy, it is undeniable that there are MANY people that are still buying, consuming, etc. and practically tossing their money out of the window. THAT is what is keeping the price of food, entertainment, and other items so high.

Some folks just don’t understand the term “aggregate spending”. The numbers do not lie.

 

[vraiblonde]

The numbers do not lie.

No, but the people compiling, analyzing, and reporting them do.

But if you want to think consumer spending causes inflation, and that there are so many people in this country with money to burn that it's causing prices to rise, you go right ahead.

 

[HemiHauler]

No, but the people compiling, analyzing, and reporting them do.

But if you want to think consumer spending causes inflation, and that there are so many people in this country with money to burn that it's causing prices to rise, you go right ahead.

Please just take a seat. You’ve demonstrated with deft and aplomb that you know nothing about economics.

 

[SamSpade]

Please just take a seat. You’ve demonstrated with deft and aplomb that you know nothing about economics.

She doesn't have to - it's ridiculous to place the current spike in inflation on a bonanza of wealth and cash being spent on too few goods - that basically, people are awash in money, and they're just spending too much.

It doesn't matter that it is plausible economically, it just flies in the face of anything anyone can prove.

 

[vraiblonde]

Please just take a seat. You’ve demonstrated with deft and aplomb that you know nothing about economics.

You are breathtakingly retarded, not to mention arrogant. All that MSNBC altering your brain chemistry.

If you thought about it for even a few seconds instead of just barfing up what the morons on Vox tell you, you'd realize that prices have gone up dramatically across the board - from gas to eggs to real estate to meat to holiday greeting cards. That's not supply/demand.

Read and learn, idiot.

What Causes Inflation? How It's Measured and How to Protect Against It

In this article, we examine the fundamental factors behind inflation, different types of inflation, and who benefits from it.

www.investopedia.com

What causes inflation?

Monetary policy is a major cause of the increase in inflation, says Stanford economist John Taylor.

news.stanford.edu

 

[vraiblonde]

She doesn't have to - it's ridiculous to place the current spike in inflation on a bonanza of wealth and cash being spent on too few goods - that basically, people are awash in money, and they're just spending too much.

Not to mention consumer spending is good for the economy, not bad. Keeping money circulating helps everyone from supply to manufacturing to distribution to the end user.

 

[OccamsRazor]

She doesn't have to - it's ridiculous to place the current spike in inflation on a bonanza of wealth and cash being spent on too few goods - that basically, people are awash in money, and they're just spending too much.

It doesn't matter that it is plausible economically, it just flies in the face of anything anyone can prove.

Its not that people are "awash with money" or are "spending too much" but, they are spending. Otherwise, businesses would be shuttered and prices would change. They don't though..... Instead, we have things like Demand surcharges and additional fees that apparently, many people are happy to pay to get the "new thing."

 

[vraiblonde]

Otherwise, businesses would be shuttered

Do you not live in the United States?

 

[OccamsRazor]

Do you not live in the United States?

JFC! Please try to think outside of your town/city you live in!
Do you think Ford, Chevy, Dodge, Apple, Ticketmaster, etc. would be flourishing if not for people paying the jacked up prices they charge?
Everyone on here seems to take the all or nothing approach. It was never my intent to say EVERYONE is flush with cash and EVERYONE is spend, spend, spend. The truth is that there are still quite a lot of people willing to pay the premiums and THAT is why it is not gonna go away any time soon.

 

[vraiblonde]

JFC! Please try to think outside of your town/city you live in!
Do you think Ford, Chevy, Dodge, Apple, Ticketmaster, etc. would be flourishing if not for people paying the jacked up prices they charge?
Everyone on here seems to take the all or nothing approach. It was never my intent to say EVERYONE is flush with cash and EVERYONE is spend, spend, spend. The truth is that there are still quite a lot of people willing to pay the premiums and THAT is why it is not gonna go away any time soon.

What do you think people are buying more of: cars or gas?

Taylor Swift tickets or eggs?

RAM trucks or apartment rent?

*I* am representative of the majority of Americans. Kylie Jenner is not. They call those people the 1% for a reason.

 

[LightRoasted]

For your considertaion ...

Do you really NOT KNOW about the great currency Oppurtunites that have been in place all of 2021 and 2022 or is just your fear and paranoia in the forefront again!

Such as the carry trade? I do not participate in currency speculations/manipulations and have nothing to do with the casino known as FOREX trading.

Still waiting for examples from you of the dollar gaining value that the consumer actually can benefit from.

 

[HemiHauler]

You are breathtakingly retarded, not to mention arrogant. All that MSNBC altering your brain chemistry.

If you thought about it for even a few seconds instead of just barfing up what the morons on Vox tell you, you'd realize that prices have gone up dramatically across the board - from gas to eggs to real estate to meat to holiday greeting cards. That's not supply/demand.

Read and learn, idiot.

What Causes Inflation? How It's Measured and How to Protect Against It

In this article, we examine the fundamental factors behind inflation, different types of inflation, and who benefits from it.

www.investopedia.com

What causes inflation?

Monetary policy is a major cause of the increase in inflation, says Stanford economist John Taylor.

news.stanford.edu

Now think about this very carefully, Pookie: loose monetary policy puts money into the hands of whom?

 

[OccamsRazor]

What do you think people are buying more of: cars or gas?

Taylor Swift tickets or eggs?

RAM trucks or apartment rent?

*I* am representative of the majority of Americans. Kylie Jenner is not. They call those people the 1% for a reason.

Apparently, there are a lot of what YOU call the "1%" around. See people each and every day in new RAM trucks, packed at concerts, and carrying the newest cell phones.
Once again, there is a reason why these businesses are still.. in business and its NOT because people aren't buying their goods.

 

[SamSpade]

JFC! Please try to think outside of your town/city you live in!
Do you think Ford, Chevy, Dodge,

Are you of the impression that we are selling more cars than we did last year, or the year before?