Powell admits Fed got it wrong on inflation, says they should stop calling it 'transitory'

Here you go again with the same debunked crap. You keep trying to make a case of “total expenditures” when you have been shown how disingenuous that is to the debate.

WOW and entire paragraph of opinion……color me surprised

Ahhhhh the FRED again…….nice chart, now care to put the details behind it ? Why did personal expenditures decrease ….go ahead, I’ll wait…..

 

Coincidence that this all started instantaneously when Biden walked in? That’s what you are telling us? I think not.

 

Fake News, unexpended money has no power to drive inflation, only expended money has that ability. You made the false claim that Trump spent 9 times what Biden did, when actually Biden is tracking for 6% MORE than Trump. Your claims are false as I have shown using the highest quality sourcing in the United States, our official expenditure figures.

You claimed:

Certainly they are spending more for gasoline and paying inflated prices for everything they buy, but your claim that this is evidence of Biden's "successful economy policy" appears to be widely at variance with the facts.

What's next? Are you going to happily gurgle over how "lucky" we are to have falling real wages?

So is this happy horse **** selling with the US Voter?

Odds of Congressional Majorities at the voters first opportunity
Senate: GOP 70% Dems 30%
House: GOP 82% Dems 18%

https://electionbettingodds.com/House2022.html

Keep plucking that chicken, I see no evidence that the Dems happy talk is fooling anyone.

​

 

I already proved to you that it didn't. But I understand, trumpists live in an alternate reality.

 

Was demand for gas down in October 2020 because of the pandemic that Dirty Donnie and the Republicans failed to do anything about ?

Are costs and demand up across the board because the pandemic is more in control (except for the anti-vaxxers and Trump supporters who want it to keep spreading) ?

That is what it is all about. Hurting the regular folk for political gain is always the Republican way. Why do you vote Republican ?

 

Exactly, WS.

Totally, fmj.
Great point.

The really amazing thing is that there have been No Previous Threads at PF involving Inflation, and this is the FIRST that I have heard about this.

http://www.politicalforum.com/index...0-3-pct-in-second-half-of-2022-yellen.594486/
http://www.politicalforum.com/index...’s-where-they’re-planning-to-cut-back.594360/
http://www.politicalforum.com/index...in-a-decade-as-inflation-soars-higher.594293/
http://www.politicalforum.com/index...ops-to-10-year-low-on-inflation-fears.594170/
http://www.politicalforum.com/index...conomy-as-inflation-hits-30-year-high.594139/
http://www.politicalforum.com/index...year-in-october-tied-for-highest-ever.594079/
http://www.politicalforum.com/index...ain-on-grocery-shopping-for-americans.593871/
___________

Yes, my friend, Inflation is affecting the Economy.
BUT, you would never know about it at PF.

Because, Members NEVER Start Threads about Inflation.
Go figure...

 

I take that to mean yes, you pay more now for those things than in October 2020. You helped bring this upon the people by voting Democrat. You can be mad at mean tweets all that you want, you've helped cripple a nation.

Democrat votes hurt the regular folk

 

Not at all. Republican votes installed an incompetent, corrupt candidate who allowed a pandemic to run rampant in this county without doing anything about it.
He and his Republican supporters crippled this nation. Democrats are cleaning up his mess and I voted for the cleanup.

And I mean, YES, Republicans hurt people for political gain and we the people are paying for it more than ever before.

 

ahh, the pandemic is now the excuse as to why things costs less in 2020 than in 2021 ?????

I do recall that as soon As Democrats had full control, and the pipeline was shut down and leases cancelled, the market responded and prices for fuel soared. Pandemic had nothing to do with it. Naturally, fuel prices rise, all prices rise

You voted for the train wreck and have no valid reason as to why beside pure hatred of a man that you don't even know.

the country is worse off today thanks in part to your Democrat vote

 

To which pipeline do you refer ? Keystone ? Please list how much oil it was going to transport to American refineries for the production of gasoline.

I'll wait.

You vote for a dumpster fire in 2016 and you got a disaster worse than your wildest nightmare. Now, you attack, for pure spite, the administration and political party cleaning up your mess.

PS - I live in NYC and have know Dirty Donnie's crooked machinations since day 1 when he hooked up with the Koch administration, probably before you were born.

 

Inflation is a lagging, not a leading indicator. it reacts to what happened a year+ in the past, not to what MAY happen at some unknown time in the future (i.e. the Keystone pipeline being built or not).

Second, J. Powell was nominated by your boy, Trump. What did trump do when Powell raised rates to curb future inflation? He attacked him openly in media, until Powell lowered rates again, keeping the easy money spigot open. Trump claimed that Powell wanted to sabotage his magic economy.

What did Biden do? Did he whine when Powell said the Fed would stop bond purchases? No, he took it like a man and didn't try to interfere in Fed business, unlike Trump. So, Trumpers have no basis for calling others out on lose monetary policy.

 

And in expected fashion, absolutely backward logic from you.

Biden has had longer to FIX the economy WITH a vaccine than Trump did when a virus instantaneously shut down he economy.

At what point do you get to stop pointing at Trump for Biden's failures?

 

LOL @ equating tax cuts to stimulus.

Common liberal offensive.

Letting people keep more of the fruits of their labor is NOT the same has handing out money collected from some to give to others.

Stop doing that.

 

first, Trump isn't "my boy"

I for once would like to see anyone within the Democrat party actually suggest policies that are good for the folks. Not the arrogance that they know what is best for all.

Low energy prices are good for the folks. Stepping back from giving taxpayer dollars for electric vehicles or solar is good for all folks. Stop using our tax dollars to push agendas.

Instead, we get pain and suffering thanks to your Democrat vote.

What's the honest platform?

If you think everyone should pay more for gasoline; vote Democrat

If you think inflation is a good thing; vote Democrat

If you think the regular folk should be hurt financially; vote Democrat

If you think we should be less energy independent; vote Democrat

If you think there is harm in being a strong nation; vote Democrat

this is what you continue to try and defend. If you don't like the way things are, and can't get yourself to vote for common sense people, then get the Democrat party to be about the folks, not just about themselves and their rich donors

I could care less about the letter after the name. The problem is that there isn't 1 Democrat out there who is for the regular folk; not one

 

Inflation is caused by demand.......which means people have more discretionary money to spend....so YES, THANK YOU DEMOCRATS !!!!

 

No facts, just emotional blather. We get it that you hate Biden and the Dems, no need to reaffirm. However, if one wants to have a discussion on inflation, "Dems bad" is not going to cut it. One actually has to understand some economic principles first.

 

If another pandemic happens on Biden's watch, we can compare the outcomes. Since Dirty Donnie did nothing, it won't be a tough standard to exceed.

 

Ahh, so anything with this pandemic moving forward is Trumps fault.

Do you believe that non-sense? Seriously?

 

What nonsense ? Prevention is worth a pound of cure. The time to do something about this disaster was in the beginning. Trump's epic failure and incompetence
let this grow completely out of control into a monster.

 

yeah... he didn't face any opposition:

Nancy Pelosi:
“The Trump Administration’s expansion of its outrageous, un-American travel ban threatens our security, our values and the rule of law. The sweeping rule, barring more than 350 million individuals from predominantly African nations from traveling to the United States, is discrimination disguised as policy.

“America’s strength has always been as a beacon of hope and opportunity for people around the world, whose dreams and aspirations have enriched our nation and made America more American. With this latest callous decision, the President has doubled down on his cruelty and further undermined our global leadership, our Constitution and our proud heritage as a nation of immigrants.

“In the Congress and in the Courts, House Democrats will continue to oppose the Administration’s dangerous anti-immigrant agenda. In the coming weeks, the House Judiciary Committee will mark-up and bring to the Floor the NO BAN Act to prohibit religious discrimination in our immigration system and limit the President’s ability to impose such biased and bigoted restrictions. We will never allow hatred or bigotry to define our nation or destroy our values.”


So, do you have a memory issue, or does partisan blinders make you draw ridiculous conclusions?

 

How wonderful ! I get to use this clip again(for about the 50th time):

"Meanwhile, from Dirty Donnie's own lying mouth:

Jan. 22
“We have it totally under control. It’s one person coming in from China, and we have it under control. It’s going to be just fine.”
Feb. 10
“Looks like by April, you know, in theory, when it gets a little warmer, it miraculously goes away.”
Feb. 24
“The Coronavirus is very much under control in the USA. … Stock Market starting to look very good to me!” (fell from 28.8 to 27.9 )
Feb. 27
“It’s going to disappear. One day, it’s like a miracle, it will disappear.”
March 4
“Some people will have this at a very light level and won’t even go to a doctor or hospital, and they’ll get better. There are many people like that.”
March 9
“The Fake News Media and their partner, the Democrat Party, is doing everything within its semi-considerable power ... to inflame the CoronaVirus situation.”
(Stock Market closes at 23. )
March 10
“We’re prepared, and we’re doing a great job with it. And it will go away. Just stay calm. It will go away.”
March 18
“I always treated the Chinese Virus very seriously, and have done a very good job from the beginning, including my very early decision to close the ‘borders’ from China - against the wishes of almost all.” (Stock Market closes at 19,899)
March 26
“I don’t believe you need 40,000 or 30,000 ventilators. You know, you go into major hospitals sometimes they’ll have two ventilators, and now all of a sudden they’re saying, ‘Can we order 30,000 ventilators?’ ”


I don't need to draw any conclusions, Dirty Donnie has spelled them out with his own words, the epic, incompetent failure that he is.

 

Thanks for the economics lesson. Inflation is good. It totally does not eradicate the moderate savings of those on the bottom end of the economic ladder.

Now for the history lesson, here is a photo of Germans going to buy bread with wheelbarrows of cash during the Weimar Republic.


Apparently Germany was not all that enamored with the inflation because they replaced the Weimar Republic with a failing artist with a moustache. The point being is that if you spend enough time pissing on the working class, they may eventually wake up and vote in people who do things that you really reallly don't like.

 

Its good that people have money, and YES, some inflation is good when is it caused by demand. But this demand is different in that it is driven by the supply chain issue starting to resolve themselves. Those 2 things together ARE driving inflation. When inflation is caused by monitory policy, or governmental interference it IS bad.

We already voted out the guy who was doing the **** we really really didnt like......

 

Just going to avoid the quote from Nancy huh? And Donald is the liar?

Instead he should have said "OMG! We're all going to die! This is going to spread throughout the world. Get your guns, ammo, and head for the bunkers!"

lol. Oh, the atrocity, he was trying to keep people calm.

Lies. Partial quote as always. The real quote:

“And by the way, the virus. … It looks like by April, you know in theory, when it gets a little warmer, it miraculously goes away — I hope that’s true. But we’re doing great in our country. China, I spoke with President Xi, and they’re working very, very hard. And I think it’s going to all work out fine. Rough stuff, I tell you, rough, rough stuff. But I think it’s going to work out good. We only have 11 cases, and they’re all getting better.

Why do you have to cherry pick what is said to try and make your point?

There were less than 16 total cases in the United States.

16.

That is very much under control.

It absolutely will disappear one day.

That is a 100% true statement. And still is today.

100% true. They absolutely did for partisan election purposes.

Just stay calm. Sounds like somebody being protective. The fact that you get all fired about a liar is like telling a mother comforting their child before an injection "it will just pinch a little" is a liar. It's ridiculous.

Truth, per what I posted above from Pelosi

https://www.politifact.com/article/2020/apr/24/can-anyone-who-needs-ventilator-get-one-so-far-it-/

I agree, there is incompetence at play, but it isn't Trump.

 

Biden/Dems Inflation bonfire from red ink orgy burns down the jobs report.

Digging Through The Rubble of Biden's Latest Jobs Miss Who's Hiring And Who's Firing In November: More Head-Scratchers

"this report contains a few head-scratchers: for example, leisure and hospitality are up only slightly, and retail being down is odd for this time of year"

Rough stuff to deal with.