Inflation up 3.1% just last month

The government punishes the public by reducing the value of the currency through money supply increases. Then it blames the reduced buying power on higher prices and punishes the public again by raising interest rates to reduce demand and thereby hurt the economy. And the economic community claps its hands in glee that rising prices are being attacked by government. It is the price we all pay for government's inability to control spending. If they taxed us for the profligate spending we would all vote them out of office. With this system we just complain and say bad things about the business community. It is bizarre to me.

 

Bribed Joe, the inflationary president.

Inflation Rises Faster Than Expected in January as High Prices Persist

Bribed Joe and the Dems 3 seperate $Trillion Red Ink Orgies before the GOP took over the House is devastating the value of our dollars.

'The Labor Department said Tuesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.3% in January from the previous month. Prices climbed 3.1% from the same time last year.'

Prices have sure gone up a LOT since Bribed Joe took over



Voters sure don't much good to say about Bribed Joe on inflation.

 

Pay a living wage to citizen workers?

My word!

 

Your 401k account is growing, but you have lost around 20% of your 401k because of inflation when it comes down to buying power.

 

Grats, think about it, you may be one of the last generations to ever own a home in the U.S

https://www.investopedia.com/many-f...t-to-become-homeowners-redfin-reports-7966992

 

I have no doubt his 401K has grown less than actual inflation. And it's closer to 30%, using the method used to calculate inflation back in the '80s before they rigged that too.

Just a coincidence but I went to one of my regular fast food stops today (a certain pizza chain). Couple of weeks ago it was $12.70, today it was $13.79. When Biden was installed, it was $8.70 IIRC. 59%

Our liberal friends claim there is no inflation and the economy is glorious yet credit card debt has topped $1 trillion and 'buy now, pay later' is going through the roof. Over $200 billion in interest paid just on credit cards. Yeah, everything is swell.

 

Govt.

 

Yes it is, your feeeeelings are irrelevant.

 

Do you mean up to 3.1% from 3.0%?

I tend to disregard anything said by someone who flies flags of traitors.

 

The problem is two-fold. Yes increased demand has pushed prices higher. That is temporary. The bigger issue is that the FED inflates the money supply to cover government spending money it doesn't have to spend. That makes the dollar less valuable and makes us spend more of them for everything we buy. That is permanent because the government never deflates the money supply.

The interest rate increases can dampen demand but has no effect on the devaluation of the dollar. That is why it hasn't been working. This has been going on since the Coolidge administration and was supercharged during the Nixon administration with the removal of the gold standard. Now the dollar is backed by nothing. It is just data and accounting. It is so easy to overspend without having to raise taxes and government takes advantage of it all the time.

You can blame Biden for signing the spending bills or you can blame the white house staff that told him to sign them. But it isn't unique to Biden. All presidents do it.

 

Thanks.
I’ve always found most young people don’t have a clue as to what they will ever be able to do. When I was in my 20s and 30s if I were asked if I thought I would ever own a home I might not have believed I could. But now I’m about a year from doing so. Then we’ll buy a home in the mountains outright when we retire.

 

I believe the government has very little to do with it, and never really did. The inflation is and has always been due to COVID, and would have worked mostly the same even if Trump was president. I get it, a bad economy is always used against the president who sat in the White House while it happened, but it's never logically connected because the people making the claims hope folks won't look any deeper. The actual truth is simple. Donald Trump wouldn't have prevented the inflation and Joe Biden didn't cause it beyond a small blip in energy prices(which we've had before without inflation).

And if a bad economy IS the fault of the sitting president, why are we talking about reelecting Donald Trump when he absolutely trashed the economy on his way out in 2020? That wasn't his fault either in the real world, but in your fantasy world, it has to be.

 

Don't get too used to the feeling of having the house paid off . We paid off our first house in 2008, then in 2014, my wife had the idea to have the inlaws move in with us. Of course, we NEEDED a bigger house with more land, so we were back to the mortgage. We paid that one off in 2019.

In any case, it's great to be debt free. The only debt we have right now is a small car loan, not because we needed to have the loan, but because we have the cash flow for the monthly payments and didn't want to touch savings.

 

At least you only had the mortgage for that short time. We will never have an issue with in-laws living with us. Once our home is paid off we will never have another mortgage to worry about.

 

Or the Democrat Congress for passing the bills, or Bribed Joe for signing them. They all knew damn well that they were diluting our dollars and devaluing them, but they didn't give a damn and figured that they could lie their way out of it. But, only about a 1/3rd, probably folks with COLA's have bought their nonsense.

 

NYC:
Discussing "The Sanctuary Trap", Mayor Adams pressed the point that NYC's resources are strained, and that everything has reached capacity.
"We're not just saying we're out of room as a soundbite. We're out of room, literally. People are going to be eventually sleeping on the streets," he continued.

Here's the Rosemont Hotel, people sleeping outside because the migrant facility is full. This is New York now. Joe did this.

https://www.foxnews.com/media/eric-adams-warns-nyc-sanctuary-struggle-sleeping-streets

 

While I could easily pay off my mortgage with the swipe of a pen, I choose not to. My mortgage rate is 2.75%, and I can fairly easily make 8-10% with a market index fund on the money I would use to pay off the mortgage.

In my estimation, I am better off keeping the mortgage and investing that money. Everyone views these things differently, but to me, getting rid of the mortgage would be a bad financial decision. I realize there is a little risk in that decision, but it is a risk I am willing to bear over the long term.

Just thought Id share a different rationalization on the subject.

 

I've seen this suggestion many times, to invest the money rather than paying off the mortgage. On average, one probably comes out ahead doing this. However, to me, peace of mind is more important, I just hate having debt. I've always been much more conservative in my investment decisions and in my personal finances than what my political opinions indicate .

 

I can understand your position for sure. I just wanted to put forth a different way of looking at it.

Admittedly, I am a bit of a gambler, but at 2.75%, that is too much of a difference for me not to take that risk. The way I see it, surely I can get more than 2.75% over the long term.

 

Ha! Another classic!

 

I see prices ALWAYS go up.

 

Im not sure how this is a defense of you trusting the government over your own eyes.

At any rate, do you see them always going up at the same rate?

 

Pretty much, For me, friend's and family the economy is doing great.

 

My question was does inflation always go up at the same rate?

How is your personal finances an answer to you believing the government over your own eyes, which was your claim to which I responded?

 

Probably has a government job. Speak no evil of his master....