Biden is still cognitively aware enough to know that he's a lying dog face pony soldier () .
If I knew how to do it I would come up with a dog faced pony soldier emoji. We need this!
Monthly Inflation and JOBS
- Thread starter GURPS
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If I knew how to do it I would come up with a dog faced pony soldier emoji. We need this!
Hijinx
Well-Known Member
"Our" experts...
THE experts have been saying that no inflation has ever been temporary. Like, ever. Any dummy can look at the historic price of things and realize that. Gas may fluctuate a bit but in the late 70s it fluctuated between 75-cents and $1 a gallon. We will never be able to buy gas for that price again. We will never be able to buy a brand new 3 BR home for $20k. Nor will we ever be able to buy a brand new car for $2500. Bread will never again be 50-cents a loaf.
Biden is still cognitively aware enough to know that he's a lying dog face pony soldier (
Once the price goes up it never goes back to where it was.
"Our" experts...
THE experts have been saying that no inflation has ever been temporary. Like, ever. Any dummy can look at the historic price of things and realize that. Gas may fluctuate a bit but in the late 70s it fluctuated between 75-cents and $1 a gallon. We will never be able to buy gas for that price again. We will never be able to buy a brand new 3 BR home for $20k. Nor will we ever be able to buy a brand new car for $2500. Bread will never again be 50-cents a loaf.
Biden is still cognitively aware enough to know that he's a lying dog face pony soldier (
I think you’re misrepresenting what they’re referencing here. When they say inflation is temporary, they aren’t talking about the lasting permanent change in buying power. They’re talking about the percent change on a monthly/yearly basis. There’s healthy/normal inflation (you really don’t want everything to stay exactly the same price), deflation, stagflation, hyperinflation, etc. They’re referring to higher than normal/healthy inflation levels staying.
That being said, they’re also wrong. We aren’t going to see a brief stint of higher than normal inflation levels and then a drop back to healthy levels. There’s just no chance of that happening.
On Inflation, Biden Knows He’s In Dire Straits
After the White House boasted about Americans’ sixteen-cent savings on a hypothetical Independence Day barbecue, Republicans “pounced” — as the Left is fond of saying — on the president for being out of touch with the economic challenges faced by normal citizens.
Indeed, inflation — the erosion of a currency’s purchasing power over time — is particularly noticeable for members of the working class. The Biden administration is trying to win over this precise demographic with its omnibus legislative packages — such as the American Families Plan and American Jobs Plan. But inflation may throw a wrench in this strategy.
For one, staples such as food and gasoline consume a larger share of a middle class American’s budget than an upper-class American’s budget.
Suppose that the former earns $50,000 per year, while the latter earns $200,000. Suppose also that both usually spend $2,000 per year on energy. The 25% increase in energy prices that Americans have observed since this time last year will create another $500 in expenses for each person. All else being equal, the upper-class American is spending 0.25% more of their income on energy; the middle-class American, however, is spending 1% more of their income on energy.
After the White House boasted about Americans’ sixteen-cent savings on a hypothetical Independence Day barbecue, Republicans “pounced” — as the Left is fond of saying — on the president for being out of touch with the economic challenges faced by normal citizens.
Indeed, inflation — the erosion of a currency’s purchasing power over time — is particularly noticeable for members of the working class. The Biden administration is trying to win over this precise demographic with its omnibus legislative packages — such as the American Families Plan and American Jobs Plan. But inflation may throw a wrench in this strategy.
For one, staples such as food and gasoline consume a larger share of a middle class American’s budget than an upper-class American’s budget.
Suppose that the former earns $50,000 per year, while the latter earns $200,000. Suppose also that both usually spend $2,000 per year on energy. The 25% increase in energy prices that Americans have observed since this time last year will create another $500 in expenses for each person. All else being equal, the upper-class American is spending 0.25% more of their income on energy; the middle-class American, however, is spending 1% more of their income on energy.
jrt_ms1995
Well-Known Member
I hope he doesn't think he can take Mark Knopler's place!
Hijinx
Well-Known Member
Indeed, inflation — the erosion of a currency’s purchasing power over time — is particularly noticeable for members of the working class.
It's a little hard on the retired class too. Being on a fixed income and watching prices soar and having the buying power of that income shrink gets a little scary as we watch our dollars not go as far and wonder what happens when it no longer gets the job done.
Another thing we worked hard all of our lives and we saved a few bucks , bought a home and we hoped to leave something to our kids and watching this corrupt and stupid dildo pushing to have our estates taxed and given to the Government instead of our heirs is anger inducing to the max.
It's a little hard on the retired class too. Being on a fixed income and watching prices soar and having the buying power of that income shrink gets a little scary as we watch our dollars not go as far and wonder what happens when it no longer gets the job done.
Another thing we worked hard all of our lives and we saved a few bucks , bought a home and we hoped to leave something to our kids and watching this corrupt and stupid dildo pushing to have our estates taxed and given to the Government instead of our heirs is anger inducing to the max.
UglyBear
Well-Known Member
I prob went all conspiracy nut recently, but again it seems to be a feature, not a bug:
Inflation hurts mostly working class and retirees of the working class. Those are primarily older, whiter, and conservative. Not the demographics Dems care about, and honestly, are giddy to get rid of.
Government can always print more (increasingly worthless) cash to throw to their base.
Inflation hurts mostly working class and retirees of the working class. Those are primarily older, whiter, and conservative. Not the demographics Dems care about, and honestly, are giddy to get rid of.
Government can always print more (increasingly worthless) cash to throw to their base.
Biden Claims Top Democrat Economist Larry Summers Is Not Worried About Inflation. He Is.
“I don’t know anybody — including Larry Summers, who’s a friend of mine, who’s worried about inflation — is suggesting that there’s any long-term march here if we do the things we’re going to do,” Biden claimed.
However, Summers has repeatedly warned about inflation and recently predicted that inflation will be running “pretty close” to 5% by the end of this year.
Summers warned in an op-ed in The Washington Post in February that “policymakers need to ensure that they have plans in place to address two possible, and quite serious, problems”:
“I don’t know anybody — including Larry Summers, who’s a friend of mine, who’s worried about inflation — is suggesting that there’s any long-term march here if we do the things we’re going to do,” Biden claimed.
However, Summers has repeatedly warned about inflation and recently predicted that inflation will be running “pretty close” to 5% by the end of this year.
Summers warned in an op-ed in The Washington Post in February that “policymakers need to ensure that they have plans in place to address two possible, and quite serious, problems”:
LightRoasted
If I may ...
If I may ...
There's no inflation. Even if you look at the current spot price of silver at this moment, $25.27oz. It's those greedy precious metal dealers causing inflation, currently selling an ounce of silver at $40.66oz, when you buy the 2021 1oz American Silver Eagle Monster Box (500 Coins, BU, Type 1) [That's the old American Eagle design btw]. But if you want the new design, you are still going to pay a premium over $10 an ounce for a 500 hundred ounce box.
Or you can look at it this way .... That the Precious Metals spot market is being, and has been, super manipulated, [along with everything else], (especially the PM EFT paper market), and that sellers are pricing their silver, and other Precious Metals they have, at market rates, [kinda like the spot market should be doing but isn't]. Just like everything else being sold from food to cars to furniture to fuel. Sellers are pricing in all that expansion of money hitting our failing, soon to be dead, economic system. Expansion of money supply, (monetary inflation), creates price inflation.
Hey! A pound of bacon is currently on sale for only $4.99! Better get some before they sell out!
This is a game of real life musical chairs people. The question is .... are you going to be able to have a chair when the music finally stops? Are you going to be able to survive through what is coming?
A vast vast vast many, will not. Prepare accordingly.
There's no inflation. Even if you look at the current spot price of silver at this moment, $25.27oz. It's those greedy precious metal dealers causing inflation, currently selling an ounce of silver at $40.66oz, when you buy the 2021 1oz American Silver Eagle Monster Box (500 Coins, BU, Type 1) [That's the old American Eagle design btw]. But if you want the new design, you are still going to pay a premium over $10 an ounce for a 500 hundred ounce box.
Or you can look at it this way .... That the Precious Metals spot market is being, and has been, super manipulated, [along with everything else], (especially the PM EFT paper market), and that sellers are pricing their silver, and other Precious Metals they have, at market rates, [kinda like the spot market should be doing but isn't]. Just like everything else being sold from food to cars to furniture to fuel. Sellers are pricing in all that expansion of money hitting our failing, soon to be dead, economic system. Expansion of money supply, (monetary inflation), creates price inflation.
Hey! A pound of bacon is currently on sale for only $4.99! Better get some before they sell out!
This is a game of real life musical chairs people. The question is .... are you going to be able to have a chair when the music finally stops? Are you going to be able to survive through what is coming?
A vast vast vast many, will not. Prepare accordingly.
Fed Chairman: Inflation Could Be Worse Than Expected, Generous Unemployment Benefits Kept People From Working
“As the reopening continues, bottlenecks, hiring difficulties, and other constraints could continue to limit how quickly supply can adjust, raising the possibility that inflation could turn out to be higher and more persistent than we expected,” Powell said. “Our new framework for monetary policy emphasizes the importance of having well-anchored inflation expectations, both to foster price stability and to enhance our ability to promote our broad-based and inclusive maximum employment goal.”
Powell also reportedly noted that “generous unemployment benefits” were among the factors that kept Americans from going back to work.
“As the reopening continues, bottlenecks, hiring difficulties, and other constraints could continue to limit how quickly supply can adjust, raising the possibility that inflation could turn out to be higher and more persistent than we expected,” Powell said. “Our new framework for monetary policy emphasizes the importance of having well-anchored inflation expectations, both to foster price stability and to enhance our ability to promote our broad-based and inclusive maximum employment goal.”
Powell also reportedly noted that “generous unemployment benefits” were among the factors that kept Americans from going back to work.
LightRoasted
If I may ...
If I may ...
Funny thing about that "generous unemployment benefits" Powell mentions. A paltry $260 billion was for the first go around of an additional $600 per week unemployment benefit, to an extension downgrade to $300 a week, which mathematically, would equate to an additional $130 billion for a paltry total of $390 billion allocated for additional unemployment benefits. Compared to the Trillions and Trillions created and spent and passed around to friends by the government. And he wants to blame the people getting the “generous unemployment benefits” that kept people from working for all this inflation? Now that's some ass backwards logic.
It will be worse. Not could be. It will be.
Funny thing about that "generous unemployment benefits" Powell mentions. A paltry $260 billion was for the first go around of an additional $600 per week unemployment benefit, to an extension downgrade to $300 a week, which mathematically, would equate to an additional $130 billion for a paltry total of $390 billion allocated for additional unemployment benefits. Compared to the Trillions and Trillions created and spent and passed around to friends by the government. And he wants to blame the people getting the “generous unemployment benefits” that kept people from working for all this inflation? Now that's some ass backwards logic.
LightRoasted
If I may ...
If I may ...
Welcome to inflation, and, fairly stagnate wages.
Welcome to inflation, and, fairly stagnate wages.
Hijinx
Well-Known Member
which mathematically, would equate to an additional $130 billion for a paltry total of $390 billion allocated for additional unemployment benefits. Compared to the Trillions and Trillions created and spent and passed around to friends by the government. And he wants to blame the people getting the “generous unemployment benefits” that kept people from working for all this inflation? Now that's some ass backwards logic.
$390 Billion Dollars went to those who needed it or not while Trillions was printed and passed out to friends of those who voted to print the Trillions. That is what this says and that is what happened, and is continuing to happen as they continue to print trillions more and call it Infrastructure. Both parties are guilty although democrats do the greater part and the republicans are accessories to the crime.
$390 Billion Dollars went to those who needed it or not while Trillions was printed and passed out to friends of those who voted to print the Trillions. That is what this says and that is what happened, and is continuing to happen as they continue to print trillions more and call it Infrastructure. Both parties are guilty although democrats do the greater part and the republicans are accessories to the crime.
Clem72
Well-Known Member
If I may ...
Welcome to inflation, and, fairly stagnate wages.
Now I may occasionally ride the short bus, but it looks like your graph goes from a 3 to 1 ratio in 1970 (30k house, 10k income) to a 4 to 1 ratio in 2019 (420k house, 80k income).
That's a 33% increase. Want to bet that the average house size and amenities have gone up by at least a third?
in the 70s none of my friends or family had more than 2 bathrooms in their house, most had one, and few had a garage. Usually the kids were packed 2 or 3 to a room and houses were around 1000sqft for a normal 2 bedroom house or 1500sqft for a large house.
now you can't find a new house with less than 3 bathrooms and 4 bedrooms. Walk in closets, garages, walk in showers, etc. 2500-3000sqft seems the norm.
LightRoasted
If I may ...
If I may ...
Btw, I must have been special growing up in a single level rambler with three bedrooms, and 1,248sqft, built in 1967 that my father paid $17,500 for back then, with only a carport.
Don't shoot the messenger. I am sure the median income and median housing stock, (with a median sq ft), numbers we properly accounted for by the Census Bureau and the Department of Housing and Urban Development.
Btw, I must have been special growing up in a single level rambler with three bedrooms, and 1,248sqft, built in 1967 that my father paid $17,500 for back then, with only a carport.
LightRoasted
If I may ...
If I may ...
Yup. Not only that but the Fed is still buying MBS, (mortgage backed securities), to the tune of $120 billion per month and currently their MBS portfolio holdings exceed $2.4 trillion. The Federal Reserve owns nearly everyone's mortgage. So banks make low interest mortgage loans, increasing the cost, and shortage of homes, with artificially low interest rates, (with the Fed's blessings), then those mortgages are converted into MBS and bought by the Fed. Which in and of itself, adds to inflationary pressures on top of the trillions spent by government. A government that sells bonds, (aka treasuries), for billions every month to investor banks like Chase or JP Morgan, which then turn around and are bought by the Fed monetizing the debt, increasing inflation.