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

Total B$. The last bad inflation was under Carter, but started under Nixon. Carter actually appointed Volcker as the Fed chair, who is widely credited for squashing inflation, due to astronomic interest rates, although righties usually falsely assume it was Reagan who appointed Volcker.

Next, there was no unusual inflation under Clinton, or Obama, although righties cried for eight years that inflation was right around the corner, when Obama was in office.

Then, the covid stimulus was equally shared by Trump and Biden. So, both of them should get the blame, if the stimulus was in fact the driver behind inflation.

Now, I can agree that the second covid (Biden) stimulus was probably too large. However, it was approved by congress at the time when we went through the worst covid wave in spring 2021, so at the time it would have been hard to predict that the economy would come back that strong that quickly.

 

What do YOU think 'cussed' it. Given it goes back to pre-Brandon.

 

It's on the same trajectory as Europe, the UK, and the US.

 

That's actually pretty funny. If only it was a mere recession!

 

so what is your inflation rate then
UK right now is at 5.5% not the 7.5% the US has
UK has a wage increase of 4.6 the US is 3.2
so a UK citizen buying power only decresed by .9 a US citizens buying power decresed by 4.3
so no you are not feeling the same amount of pain

 

Being in the same trajectory (up or down) does not mean you have the same inflation as the untied states.

 

Why would any two nations have identical figures though? That never happens. What matters in this GLOBAL situation, is that inflation is galloping everywhere.

 

The UK is ****ed. Pay closer attention, and you'll see their poverty is out of control.

 

You said they were at full capacity "or more" and you were wrong.

Word salad, if they are capable of X+10% then X is not equal to full capacity.

More world salad, utilization is a percentage of full capacity.

More nonsense, the weekly capacity figures were current through the end of last week.

Biden and the Democrats deliberately attacked the US energy sector. Biden and the Democrats deliberately attacked hard hit businesses trying to emerge from government imposed lockdowns. Biden bragged in his creepy whisper voice that by funding a general strike against US industry that he would raise real wages. Well, Diaper Boy is a moron, instead Biden and the Democrats lit the destructive fires of inflation and are destroying real wage levels. Now you are attempting to distance Biden and the Democrats from the predictable and loudly predicted destructive consequences of their self righteous destructive interventionism that is doing so much harm to the American People.

Fake News, by attacking our energy sector, Biden and the Democrats tightened supply which increased prices. This will ultimately either be "cured" by an increase in supply or demand destruction through skyrocketing prices. Only fools didn't realize that their foolish attacks would result in this current disaster.

Fake News. Larry Summer LOUDLY warned, that if the Biden and the Dems went through with the 3rd Tranche that we would have soaring inflation and shortages. The Republicans that voted against it warned the same.

Biden and the Dems own it, and the American People know it.

 

Policy matters though. Handouts, oil production methods, taxes, etc. so to think your inflation is perpendicular must come with common policy

 

Lol

The pandemic was global too. Did that stop the left from blaming Trump for the outcomes domestically?

How fast the left flip flops.

 

Shouldn't have stopped pumping in the first place.

 

Biden Loses It Over Americans Correctly Knowing the Cause of Inflation.

Angry Biden Shouts, ‘I’m Sick of This Stuff,’ Lashes Out at Those Who Blame Him for Inflation.

He’s old, angry, senile, but on some level in his badly deteriorate brain he knows he's blowing it.

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I'd say he is an idiot, and he is, but, his idiocy is also self serving.

One year after the "American Rescue" plan that they were widely warned would be inflationary, which they pooh poohed:

Remember when Biden in his creepy whisper voice assured Americans that his funded workers strike against the American Economy would raise real wages? Oops!

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Turns out that experience in an international bribery scheme isn't business experience for Diaper Boy.

 

Want to talk about the countries that didn't? Want to talk about how they are working out economically?

Let's talk facts, with examples.

 

No wrong again inflation was actually on the decline till Brandon was elected

 

Great point. It clearly changed direction right at the election:

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Well, this should be an indicator that inflation was already in the works before Biden was elected. Why? Because inflation is a LAGGING economic indicator, usually following behind policy changes by 1 - 1 1/2 years.

But, not even talking about macroeconomic theory, since inflation started right when Biden was elected, how is it possible that he is responsible for it when he didn't even yet have a chance to implement any policy?

 

I'm not talking about the inflation itself (which again, is global), I'm talking about the conditions which lead to it. They've been brewing for two decades.

 

It changed direction in my Right Wing nation, too. How is that Brandon's doing? I'm not arguing that he's a good guy .. I mean, come on man. My point is simply that this is much bigger than that senile old twit.

I will grant you that your Left are responsible for creating an underclass too big to support other than in ideal circumstances (IOW effectively never). The resources lost to enabling helplessness has basically ruined your nation - and that learned helplessness means you don't have people power to get you back on your feet. That's the work of your Progressive Left, and they've been at it since long before Brandon.

 

Husband and I are retired. Middle class, or at least that's what we've always told ourselves. A year and two months ago, we could, within reason, buy what we wanted at the grocery store; now we must be very careful, only needs not wants. We occasionally went out for dinner; recently we did that and bought a meal that a year ago cost $50-$60 and it now was $105. Husband needs a new truck; a year ago, what he was looking for would have cost $35 to $40k; now the same model is $60-70k, so no new truck. All my life, I've wanted to travel; covid precautions pretty much brought international travel to a stop, cities aren't safe now, so for the past year we've done national parks, camping, hiking; now with the price of gas, we won't be doing that either.

I'm not looking for sympathy; I'm aware all middle class folks are in the same boat. But our quality of life is disintegrating. I realize, so far this is because of this administration's policies; we haven't begun to start paying for our help in this war. But, every time I hear a hotshot TV personality tell me that all Americans are willing to pay more at the pump for Ukraine, I want to scream. So we'll give up the last quality of life we have so Ukraine can have two more weeks before they're obliviated anyway? I mean, for TV people who make millions of dollars a year and a limo paid for by the TV station picks them up every day, sure they don't mind making the sacrifice. Will our current leaders ever worry about us regular Americans?

Sorry about the rant and everyone I've just offended. It's been a bad day.

 

If that is the case, maybe we can expect to see government-imposed rationing of fuel and long lines.

I actually see a lot of overlap between Biden and Carter in terms of personalities. Sure, Carter was a nice guy, but he was also largely perceived as ineffectual.

This comment was posted by someone else:
"Those of us who are old enough to remember the last run of inflation, under Carter, also remember what followed, the recession and layoffs of 1983. I was out of work for over 6 months. Welders at my company were union, and it took 27 years of seniority to hold a first shift job. Anyone with less than 18 years of seniority was let go. Lots of manufacturing facilities permanently closed. Rising energy costs really affected transportation cost of goods to final assembly plants."

 

Trucks are expensive because 1) they don't have enough chips, and 2) because they can charge what they do. Despite the high price tags, trucks are flying off dealers' lots. So, blame supply and demand, rather than the administration.

BTW: Car prices began their meteoric rise before Biden took office.

Look, nobody likes inflation, I don't either. I am not retired yet, but was planning to retire in 5-6 years. Now, I probably have to work a couple of years longer. With that said, it was only a matter of time before inflation once again reared its ugly head. All administrations since Clinton have racked up the debt like drunken sailors. Trump and Biden are, so far, the worst. Biden was just unlucky to take over when inflation started. Just like Obama was unlucky to inherit GWB's great recession.

Wouldn't it be nice if, for once, GOP presidents would have to clean up their own mess.

 

The first just weeks after the Democrat President left office that latter a year after the Dems took back the Congress. What's your point?

 

The lock downs did not prevent the spread, by the Spring of 2021 we had vaccines and everyone was going back to work who wanted to go back to work. We didn't need more money being pumped into the economy and as I and others predicted we now face the inflation it produced.