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

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What are you talking about? Less money involved? The Cares Act under Trump was $2.2 trillion. How is that less than $1.9 trillion for Biden's America's rescue plan? I posted the numbers above, the "stimulus" was very similar for both presidents (actually lower for Biden).

Also, Trump didn't pay people not to work? Then what was the Cares Act about? It's exactly what it did.

Look, I am not trying to whitewash Biden, I realize that the America's rescue plan was probably too large. However, at the time, this was hard to foresee. Just like it was hard to foresee for companies that the covid recession would be much shorter than they predicted. They feared for a much longer downturn, which prompted them to un-necessarily lay off too many workers and cut production too deeply. Now we are paying the price.

Finally, I agree that every administration, both Dem and GOP have added to the deficit. At least Obama had a good excuse because we had to dig out of the great recession and prevent deflation. For Trump, there was ZERO excuse to add that much to the deficit -- before covid. After covid, of course everything changed, for both Trump and Biden. Time will tell.....

 

no jab no job seems to not be working.

 

I live in the mountain states. I just went in to buy some crab for dinner for the family tonight. Just snow crab (I’m not rich). However it looks like 3.5 pounds of snow crab is now $100. Haven’t bought it in a while and it floored me. No crab tonight. Maybe I can hire a Californian to loot it for me.

anyway, that’s not all. Our land has soared. In my area housing is up 68% from last year. And last year was a large number as well. For a guy that never cares to move that’s just a tax increase.

As far as gun supplies. I recently just paid $100 for 3 cans of 100 count percussion caps for a muzzle loader. That’s insane but I’m out so I needed them. A can of a hundred used to be under $10 tell me that’s not insane.

Used trucks are selling higher than a new one. No kidding too…. The catch is you have to wait forever to get your order in for a new one.

inflation in my area is almost unbearable. Wish those Californians would have stayed where they came from.

 

You won't find it on buffet tables either.

 

What are you talking about? Less money involved? The Cares Act under Trump was $2.2 trillion. How is that less than $1.9 trillion for Biden's America's rescue plan? I posted the numbers above, the "stimulus" was very similar for both presidents (actually lower for Biden).[/quote]

Just a guess. Perhaps the Trump administration used debt rather than expanding the money supply. Still massive overspending but it would not show as inflation.

I don't know what the CARES act was about. I thought it was about vaccines and other things related to covid.

There hasn't been a covid recession. I think we are on the cusp of one now. But we are certainly paying for government meddling in the economy.

No argument there.

 

If you live in Idaho, then yes, real estate is going up fast, because Idaho leads the nation in rate of population growth, - nearly 3 times faster than Florida. When demand it high, prices go up. As for your stone grab, - prices have been very high for some time now due to low supply. Lack of imported crab drives up demand for local.

 

Cares act:

https://en.wikipedia.org/wiki/CARES_Act#:~:text=The Coronavirus Aid, Relief, and Economic Security Act,,of the COVID-19 pandemic in the United States.

$2.2 trillion stimulus plan signed by Trump in March 2020. The checks carried Trump's signature.

Both Biden's and Trump's stimuli used government debt. Isn't that the same as printing money?

 

You’re right that interest rates need to be raised. As far as taxes the democrats plan would not work either. The rich don’t cause inflation. Taxes would need to be raised on everyone. And it’s not up to the president if interest rates go up or down. That’s the federal open market committee’s job. I’m sure we will see higher interest rates before Biden is out of office. As for higher taxes I kind of doubt it but it should be done and I’m not one to advocate for higher taxes. Who ever does make these choices needs to be measured and hopefully doesn’t knee jerk too hard because deflation is much worse than inflation.

 

I’m in Utah. The highest hit area in Utah. I’ve always said my area was a diamond in the rough and I hope people never figure that out. Turns out they did.

 

Only if you monetize the debt. The debt creates an equal liability that assumes it will be paid at some time. Government doesn't pay for inflation. The public does that.

 

Been there on ski trips many times when I was younger. I used to smoke back then, and people looked at me and shook their heads disapprovingly, and some came over to tell me it was sinful and bad for health. When we went to a bar for a beer, they asked for memberships and if you were not a member, and could not find someone to sponsor you, then you were out of luck, - no beer for you. Pretty backwards. Skiing was good though. Stay in cheap motels in downtown SLC, and drive to the slopes in 30 mins.

 

You can’t be serious? I’m not insulting you I just don’t understand how you don’t notice unless you’re one of those people with so much money you just buy without looking at the price or your pocketbook.

 

So, Biden monetized the debt and Trump didn't? How? I am not trying to be difficult here, but you seem to try to create some hypothetical scenario here as to why Biden's debt created inflation, and Trump's didn't. I would rather argue that Trump's debt (and Obama's) already created inflation, Biden's will create inflation in the future.

At least, you are trying to come up with actual arguments, rather than everyone else shouting "Biden bad".

Note in edit: Most debt, government or private, means that money is created out of thin air, due to fractional reserve banking. I used to like this website, before they went all covid consipracy:

https://www.peakprosperity.com/vide...ctually created, you won’t want to believe it.

 

Yeah almost all of that has changed now. I smoke, and drink as well. I’m not a skier but I know bars don’t have to have memberships for anymore. And as far as I know, nothing is cheap here right now.

 

Here we go, as predicted, the Fed is going to raise interest rates:

https://www.cnn.com/2022/01/26/economy/federal-reserve-powell-policy-update/index.html

Will Biden whine about it, as Trump did, accusing Powell to kill his magical economy? We'll see. Predictably, the stock market didn't like it, but raising rates is, in my view, a necessary move.

 

When I said 'cheap motels' I mean something like Motel 6 in down town vs a condo in Park City (very expensive even 20 yrs ago).

 

They have to do cool down the economy. Its too hot.

 

That article won’t come up for me. What rate are they saying?

 

? Um ?

Omicron shut down the economic recovery in January, sending private-sector growth to its weakest level since July 2020

 

Sure, it took a bite out of January, but that's not going to fix inflation. January is temporary, especially knowing things didn't get shut down like it did in 2020. Look at the sports events for example, - they are packed like sardines even in CA and NY. The problem is other countries, like Canada (200 people allowed last night hockey game in Winnipeg), who can't supply us with the things we need (like lumber from Canada) because of their lock downs. Same with crabs, which we talked about. SE Asia is not producing crab and hence not exporting, so US restaurants compete for domestic crab, and there isn't enough. Same with pretty much everything.

 

He even wanted more money. Trump was no conservative on this matter.

 

In the early 80s, Reagan cut inflation by boosting interest rates.

It took balls.

 

No more for sure. I will be surprised if Vegas still has the all you can eat crab nights

 

I’m not sure how it was hard to foresee. Hell, we were giving people free money and requiring landlords to let people live rent free. This was most definitely in my opinion foreseeable.

 

Trump was never a conservative.