US barreling toward recession, experts say, as inflation hits 40-year-high

We seem to be following the same formula' of the Carter administration, one expert says

https://www.foxbusiness.com/economy/us-recession-inflation-40-year-high

HYPERLINK has full article

snip

Inflation hit a 40-year high in February, and the worst is yet to come as the U.S. economy barrels toward a recession, experts say.


The consumer price index (CPI) climbed 7.9% on an annual basis, according to data released Thursday by the Bureau of Labor Statistics. Month over month, inflation rose 0.8%......................

Gas jumped 6.6% in February and accounted for almost a third of price hikes. Food rose by 1%.


The February data does not include Russia’s war on Ukraine, which has accelerated the rise in gas prices..................

end snip


interesting that this is all prior to Ukraine.

We knew that once the harmful Democrat policies began in Jan 2021 that it would not be long before we entered recession.


Democrat votes have consequences; always harmful

 

LOL! The last two recessions occurred under GOP presidents.

Maybe, your two daily threads about "Bidenflation" would be taken a bit more seriously if you didn't end every single one with "Democrat votes have consequences, always harmful". It reflects a simplistic thinking about life. Food for thought....

 

But seriously though, inflation is out of ****ing control your partisan sensitivities not withstanding.

 

That’s Brandon’s doing.

it’s genuinely not even funny anymore. He is genuinely causing true suffering

 

You're aware this is global, right?

 

It really isn't.

It's the same everywhere. I live under a Right Wing Govt, and it's exactly the same in this country.

 

It’s absolutely on Brandon. They pushed for the policies that created this. And he has failed to address it in any meaningful way

 

What did you miss about the fact that it's happening globally? And it's happening in exactly the same way.

 

Well, for starters, pumping more oil is NOT going to allieve inflation anytime soon. It may lower crude oil futures, but not inflation. Seconc, the only way, that was proven, to curb inflation is to contract the money supply in the FED. That was done in 1981 when Reagan was President. We then had a rececession from 1982 to 1984 that wiped out middle management in the huge corporations.

 

I can’t help that you choose to refuse to see what cussed it

 

I don't doubt the veracity of your post, but we do need to address it as a whole. It would be wise for Biden to start reaching out and collaborate with the other nations and take some baby steps on this.

While some are going to place blame the task at hand exists. Albeit with the conflict in Ukraine is grabbing most of the attention, it won't be easy.

 

Hahaha!

 

Wrong! Instead increase the SUPPLY of goods and services. Our Idiot Diaper Boy and Congressional Democrats instead ATTACKED the supply of good and services as Diaper Boy creepy whispered that by funding a general strike under the cover of "COVID relief" that they would raise real wage levels. Instead they destroyed them and created roaring inflation, and shortages.

Obama econ adviser: No, this is not "Putin's inflation" -- it's Biden's

​

"What does Vladimir Putin have to do with rents, or furniture, or car repairs?"

 

What incentive do businesses have to increase their supply, increase their inventory costs, and risk their business future on investments that cannot be easily converted into cash when necessary?

Keep in mind, refineries are at full capacity and more. Cannot produce more fuel gas with the infrastructure we have. Vegetables in the United States are seasonal. We can import more from other countries, but that would make modern conservatives angry. Meat production is steady, but you have to adhere to safety protocols. Otherwise, you run the risk of contamination with the meat and consumers definitely do not like that.

You may want to rethink your argument because it does not follow classical economic theory or historical past when we had record inflation, near hyper inflation, in the 1970s.

 

The last recession came at the hands of progressive policies. Literally shutdown the economy and took state control of the means of production and business is not a conservative ideal. The governors of America literally shutdown states workforce by force. They even controlled the ability to manage private property and forced landlords to allow people to live rent free. None of this was conservative ideals. None

 

You can’t find guns or ammo either?

 

All kidding aside, what was your inflation rate in February

 

"refineries are at full capacity and more." Word salad

They are not at full capacity.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WPULEUS3&f=W

And even if they were, the Biden crude oil prices still raise input costs, and therefore output costs.

Fake News. We were producing more with what we have as recently as August 2021 while Diaper Boy was blowing the Afghan Bug Out and the Delta Spike.

Fake news. Biden and the Democrats inflation was predicted by Obama's Treasury Secretary BEFORE the ill fated third tranche of hot money was released under the guise of "covid relief".

https://www.cnn.com › 2021 › 05 › 26 › economy › inflation-larry-summers-biden-fed › index.html
May 26, 2021" Larry Summers is urging Washington to tap the brakes on stimulus — or risk unleashing a serious burst of inflation."

Perhaps it's you who needs to rethink.

 

we were there under Trump too, but the market doesn't care

 

Utilization does not mean the capacity. Right now, all factories are running at 110% based on their labor supply at their facilities in order to produce what they desire. They too are having hiring problems right now and thus are at the capacity they can afford legally. Utilization means how much the factory can produce at optimal levels. And the latest report by EIA on capacity levels is 2021. 2022 analysis has not come in yet. What you cited are the comparison between the daily inputs to the optimal output, assumin labor is at 100%. That is not happening now.

Second, Biden CANNOT order oil refineries to produce more, much less any other industry or company. United States does not own them. Private individuals do and they dictate how much and how little to produce. And that means labor supply and labor demand issues.

third, I am well aware how oil prices are determined. The United States does not control the future oils market or how price is determined. The country that controls it is Saudi Arabia and they want the price per barrel to go up and up. Again, the US does not have direct or indirect control of the future oils market and blaming Joe Biden makes you look silly and uninformed to say the least.

Finally, nothing is fake news. Nothing the former Obama official was a prediction. He made those statements in 2021 when inflation was starting to get noticed, not before. Furthermore, there is very little a president, any president, can do or say that will influence how private enterprise runs their operations. We had meat shortages in 2020. Inflation is cause by several factors including below optimal prime interest rates, too much money supply in the monetary system, shortages, global distruption in the supply chain, and a few other factors. Nothing that the United States has control over except may how we manage our monetary system.

 

Just read something yesterday about the Yellen drone saying that while prices will stay high for a while, we are not going to have a recession. Surely she wouldn't be wrong about anything. Most experts are now predicting a recession.

 

And? Recessions are a regular occurrence, caused by the market cycle. At least that's the excuse that righties use when recessions happen under THEIR president, as was the case for the last two. Of course, when it's a Dem president, it is the Dem's fault. Very predictable....

 

this is due to harmful, Democrat policies.

You can't pay people to sit home nor hurt the energy industry and expect the result to not be inflation and then recession

As a Democrat voter, is that what you wanted?

 

Yes, I didn't want millions of US Americans to die a painful covid death. Most other advanced nations didn't want that either. So, the policies that led to covid lockdowns were not "Democrat voter" policies, they were policies that ANY sensible politician would have enacted (and did enact), unless they were a total sociopath.

 

I don't really understand your reply as my question was did you vote for inflation and recession?

I gather that you voted Democrat and given their beliefs, inflation and recession would be the result