Surging inflation takes hold in Mountain States, with rates near 9%

Biden had better fix it before 2024. How is he going to do it? That's the question.

 

That WON'T happen...

Cool man....

Celebs sharing a Birthday:
June 14th
Che: 6/14/28
Trump: 6/14/46

 

AJ, Biden is Kaput.

Register as a Republican and vote Republican in every election from here on out.

 

The only way to "fix" inflation is to engage in "deflation" e.g. making the money supply smaller. Government will never do that so inflation is permanent. Prices are another matter. Prices, for the most part are caused by high demand and low supply. That will fix itself over time. Nothing government can do about other than not having put the policies in place in the first place.

You are right there. The keystone pipeline didn't cause the price increases in any meaningful way. Mostly they were caused by government reducing the size of the workforce to a level that reduced supply. Learning from the Biden administrations errors will help get government out of the way so the economy can fix itself.

 

I have a relative who was born on Hitlers birthday. So what?

 

Just remember... Per Biden... Spending TRILLIONS more will fix the inflation problem...

 

My guess is that posters on an open forum will post what they wish about what they wish so long as it follows the rules.

Will do. Everyone, start posting a thresd about your local economy now!

 

I mean, you know this? Hey, I'm in California, can you send me the winning Lotto numbers for this week? Thanks in advance.

 

How many times does it have to be explained to you All them stim checks, quarantines, extended UE and child credit bullshit has flooded the economy with TO MUCH MONEY!

That was a DNC tactic to oust Trump, at least be logical about it! Because it gonna get much worse until all that bribe money is pulled out of the economy!

 

And there it is in a nut shell! As for the bolded and underscore, NEVER GONNA HAPPEN.. Our politicians are like drug addicts, they will not reform until they, AND WE, hit rock bottom! And to be honest, we will scratch worms for dinner while they gate themselves in and enjoy the very best this world has to offer..

 

I think the only thing that should be considered for permanent use is child tax credit. Trump doubled it from Obama times and I think it should stay in its current form. It’s an investment into the future, much better than sending tons of cash to local schools and let woke looneys use the funds for CRT. The funds can be used for extracurricular activities (dancing, hockey, football, whatever), which keeps the kids occupied and off the streets.

 

Or have a great many of true believers that will actually follow a moron that claims.

That's the biggest problem this country has!

 

Sure, but not until inflation is curbed.. I have an exfriend "Single" that has FIVE boys, he walked around with a hardon when all that free money crap was going on! I think he worked 120 day in 2020 and 21.. To much free money, free rent, food, heating and the list goes on..

Famous words from a welfare scammer, "Why work, I make more not working" Another popular jest at the gym, "Damn it's gonna sux having to go back to work and giving up all this training time"

 

I agree, policies need to be developed to encourage working. I’m just saying that the expanded child tax credit makes sense and there is a definite benefit from it. Many countries literally pay parents for each baby, and in the absence of long, paid, maternity leave, these funds would help a lot of parents, even the ones who are solidly in middle class. I’d support a rule that excludes welfare recipients from taking advantage of this credit because they already live on taxpayer’s dime.

 

I get you bro, but if it pays people enough to not work, then it's detrimental to society

 

Montana, Wyoming, Idaho, Utah..........I suppose they can consider electing better governors.

 

Nonsense! I find that odd coming from you, I guess you really never know someone via the intrawebz

 

I truly believe the repetitive posts on the same subjects are just to bump actual posts that are unsavory to some members here.
Negative Trump or GOP post? Post some more BS and maybe no one will notice.
That's my opinion anyway.

 

The fist step is to lower prices where you have control, and that is oil. What Biden stopped can be restarted. A 25% oil price cut can go a long way in fighting 7% inflation, since fuel price is baked into everything that moves.
But it is true that non asset holding people (real estate and equities) are well and truly screwed. Their only hope is a clamp down and deportation of illegals to use the labor shortage to get people off (negative $$) social services and into tax paying jobs (positive $$) to cut costs.
However the new price levels of everything cannot be expected to go down very much due to the way manufacturing is financed.
If we can cut the high tech components out of Chinese imports, we can make faster progress on our profit margins. (Thus more tax revenue, less borrowing).
I do worry that Biden’s people will fat finger us into stagflation before this is over.

 

Thank you for acknowledging some of the points I made.

As to reducing the size of the workforce, this happened under both Trump and Biden. Plus, it is happening overseas, for example workplace disruptions in China, which lead to supply chain problem. That's why inflation is a worldwide problem. Inflation in the Eurozone is 5.0%, also much higher than usual.

As to the money supply due to deficit spending, I have posted this before:

"Here are the deficit numbers:
Trump:
-Tax cuts: $1.5 trillion over 10 years (predicted, probably will be much higher due to covid recession)
-Cares act: $2.2 trillion

Biden:
-America rescue plan: $1.9 trillion "
-Infrastructure bill: $1.2 trillion over 10 years

So, arguably, the deficit added under Trump was larger than that added under Biden. Why would Biden's deficit spending lead to inflation, but Trump's wouldn't? In my previous thread, nobody could answer this question.

The reality is, inflation is a lagging economic indicator. It usually occurs with a delay of one year or more after the change of policy. Therefore, whatever Biden did has little effect on current inflation, it will affect future inflation.

I realize that it is fashionable on Fox News to just blame the current inflation on Biden. However, it is impossible to actually discuss this issue reasonably, when most posters in this thread (you excluded), cannot (or do not want) to talk about the economics behind inflation.

 

Gas prices were +$4 per gallon under GWB. Why did we not have inflation then? What did GWB do to curb high gas prices? Actually, he invaded Iraq based on lies, which led to the increase in gas prices in the first place. Now that was a predictable cause and effect.

 

No, you don't understand it at all. Inflation is caused by expanding the money supply. In effect, the government writes checks for money it doesn't have and spends the money into existence. The "rescue plan" is what caused the current inflationary hit. A tax cut isn't spending. It has nothing at all to do with inflation or spending. It is a reduction in government revenue. It is not a green light to spend $2 trillion dollars to screw up the economy and create high inflation.

You are correct about inflation taking some time to affect consumer buying power. It takes a while for the reduced value of the dollar to affect things. The high prices we have at the moment have nothing to do with inflation either. They result from high demand and low supply. The demand was fueled by the government lockdowns and the low supply was fueled by the "rescue plan" which paid people not to work with non existent money. It made it difficult for companies to maintain adequate workforces. The ships parked off the coast of California were caused to some extent by government as well. California will not allow independent truckers to move goods from the port. Trucking companies aren't able to maintain an adequate workforce either.

The important thing for you to understand is that government can't fix a bad economy. It can easily foul up a good one, however, and the government meddling in the economy this year has fouled it up badly. You can count on a recession. To say that the current administration is economically incompetent is a serious understatement. Frankly, I resent it. Hope this helps you understand.

 

Because gas prices are caused by supply and demand and inflation is caused by government spending money it doesn't have. Prices and inflation aren't related.

 

I fully understand inflation as a result of expansion of money supply. The main issue here is not the spending, but the deficit. The deficit is money going into the economy created out of thin air. it doesn't matter whether the deficit is caused by increased spending or decreased revenue (tax cuts) or both.

Since the tax cut was designed to create a deficit of $1.5 trillion over 10 years, it clearly created money out of nothing, unless the tax cut would have been cancelled out by a spending cut, which never happened. I would argue that a tax cut without spending cut (i.e. increased deficit spending) creates more money in people's pocket chasing the same amount of dollars. Isn't that the essence of inflation?

So, I ask again, why would Biden's deficit spending lead to inflation, but Trump's wouldn't? You haven't answered this question.

Second, with respect to increased demand and reduced supply causing current inflation, I agree with this. However, why would Biden's America's rescue plan create inflation, but Trump's care act would not? Why would Biden's lockdowns (there actually weren't any under Biden) cause labor shortages, but Trump's would not (there were REAL lockdowns under Trump).

Third, I fully understand that the government can't fix a bad economy. it is your fellow Trump voters who think it can. You say the government fouled up the economy this year, but not in Trump's covid year? Again, selective reasoning.

The reality is: Covid fouled up the economy. There is nothing any president could have done differently, which is shown by most advanced economies going through the exact same issues as the US at the same time. Did Biden create inflation in Europe? How could he have. Covid and the response (which was similar in many countries) created supply chain issues and price increases. These things will subside as the covid shock to the economy subsides and things get back to normal.

Now, to get back to normal s quickly as possible, as many people as possible people should get vaccinated.....

 

No a deficit is only caused by spending. You create money out of thin air by spending what you don't have. Inflation is not the only result of a deficit. The government can also borrow to cover a deficit.

No, it is a decline in revenue. It has nothing to do with spending. It doesn't create a deficit. A deficit is merely a comparison of budget and spending.

Inflation works the same for every president. When Trump spent money the government didn't have, that created inflation as well. But the dollars involved weren't as large so it didn't make the news. 2 trillion is a lot of money.

The difference was in the amount of money involved. $2 trillion is a lot of money. Government aims for a 2% inflation rate. When inflation stays there or lower it doesn't make the news. It certainly doesn't mean that inflation didn't occur. The money supply has been inflated by every administration since that of Cal Coolidge.

Trump didn't pay people not to work with money he didn't have to the tune of $2 trillion.

No, the economy was strong in 2020. In fact it was strong in 2021 too for the most part. It has turned down only the past few weeks. Things have caught up. You can blame Trump for a bad economy if you like. I don't care. But the really destructive thing was the "rescue plan." Inflation in other countries was caused by the same thing that causes it here. It is caused by spending money into existence by government.

Speaking for my business, We had a very strong 2020. 2021 was a small downturn, not because of demand but because of supply. We faced a lot of product shortages. 2022 has started well below 2021. Product shortages are severe at the moment.

Now, to get back to normal s quickly as possible, as many people as possible people should get vaccinated.....[/QUOTE]