Inflation

Is Inflation Biden's fault?

  • Yes

    Votes: 20 41.7%

  • No

    Votes: 28 58.3%
  • Total voters
    48
Roger A. Shrubber

Roger A. Shrubber

Well-Known Member
Sativied said:
Sounds like someone has been adding up monthly averages. It’s ~9%, not 48%.
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https://www.weforum.org/agenda/2022/06/inflation-stats-usa-and-world/

https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-june-2022-briefing-no-161/

the U.S. isn't doing so bad, but we have a lot of room for improvement.
if we want to improve...the world economy is a sick beast that's been kept alive with infusions, transfusions, and black alchemy for at least 25 years...maybe it's time to let it trash around and die, so a new beast can be harnessed...
 
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Sativied

Sativied

Well-Known Member
Roger A. Shrubber said:
https://www.weforum.org/agenda/2022/06/inflation-stats-usa-and-world/

https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-june-2022-briefing-no-161/

the U.S. isn't doing to bad, but we have a lot of room for improvement.
if we want to improve...the world economy is a sick beast that's been kept alive with infusions, transfusions, and black alchemy for at least 25 years...maybe it's time to let it trash around and die, so a new beast can harnessed...
Click to expand...
People close their eyes for all the crap heading our way and whine about their first world problems. Like the price of overpriced unhealthy climate change enabling crap they buy cause they watched too many commercials or want to feel better about themselves. Crap that consist mostly of sugar, modified starch and palm oil. Big ass freezers, heating every room/floor, ipads for the whole family and buying disposable stuff in a never-ending consumer frenzy. Subscriptions to magazines they don’t read, gyms they don’t visit, phones they replaced, tv channels they don’t watch. There are more job openings than unemployed, job security has never been this high, over a half a trillion in savings accounts, generous welfare system, essentially free healthcare and nearly free education. Any political or economic system has the same flaw: humans. The main problem is still inequality. In the US, NL and everywhere else. 1% richest has more than 90% poorest, yet it's the 2-9% richest people in the world who complain and whine while not appreciating the many great nor small things in life. Survival of the fittest will look very different from what people would expect. All it requires to be fit is not to be a complete idiot, like most nowadays.
 
Lucky Luke

Lucky Luke

Well-Known Member
Sativied said:
People close their eyes for all the crap heading our way and whine about their first world problems. Like the price of overpriced unhealthy climate change enabling crap they buy cause they watched too many commercials or want to feel better about themselves. Crap that consist mostly of sugar, modified starch and palm oil. Big ass freezers, heating every room/floor, ipads for the whole family and buying disposable stuff in a never-ending consumer frenzy. Subscriptions to magazines they don’t read, gyms they don’t visit, phones they replaced, tv channels they don’t watch. There are more job openings than unemployed, job security has never been this high, over a half a trillion in savings accounts, generous welfare system, essentially free healthcare and nearly free education. Any political or economic system has the same flaw: humans. The main problem is still inequality. In the US, NL and everywhere else. 1% richest has more than 90% poorest, yet it's the 2-9% richest people in the world who complain and whine while not appreciating the many great nor small things in life. Survival of the fittest will look very different from what people would expect. All it requires to be fit is not to be a complete idiot, like most nowadays.
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I'm a glass 1/2 full kinda guy so i have to ask what do you think is coming our way?

I agree with the vast majority of what you said- we are a disposable economy and we like to enjoy ourselves but I recon having a big freezer or a few smaller freezers you can turn on and off is a huge saving on household meat budgets. Buying meat in bulk ether direct from the farmer or through a butcher saves way more money than the running cost of the freezer. For smaller household's going shares in bulk amounts makes good sense especially if meat prices rise due to said inflation.

Heating a whole house from a single heat source can also be done economically. I'm in a fairly large home and run a wood fire, using a temp sensor and a exhaust fan with a splitter i run excess heat (25c plus) from one room into two other parts of the house furthest from the heat source (back hallway and second lounge). So there are ways of optimising the comfort whilst keeping costs in check.
 
Polly Wog

Polly Wog

Well-Known Member
I live in rural merica. Bible belt. Very common hearing weapons fire. Mostly large caliber pistols and a few explosions thrown in. Probably a couple miles away. Out watering the garden a bit ago and someone has a full auto it sounds like. It seems they can afford new trucks, guns and ammo. But live in dumps. Priorities
 
Fogdog

Fogdog

Well-Known Member
ActionianJacksonian said:
Carter inflation was solved wit 20% interest. Try that with our debt.
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Inflation back then is nothing like the inflation we've experience today.

For one thing, recently, we've only had something like three months of high annualized inflation. The era of high inflation you refer to lasted more than a decade. You are either fear mongering of some kind of Chicken Little. Maybe a Pigeon Little or Rat Little. In any case, the sky is not falling. We are not at the beginning of decades-long high inflation. Nobody with knowledge and experience on the subject says we are. I suppose you will find a few who do. The exception proves the rule.

For another thing, in that earlier era of high inflation, it first became a serious problem under Nixon. It was 5.5% in 1970 while Nixon was still in office and peaked at 14.5% when Reagan was in office. Typical of righties to blame problems that begin during a Republican presidency on Democrats. Authoritarians are like that. The truth matters not to them. More rightly you should have called it Nixon inflation or even more close to the truth, it should be called Republican inflation. Nixon tried to fight inflation using price controls. And that policy failed just like price controls have failed every time before. Carter was the one who initiated a policy of fighting inflation with high interest rates. Again, it was a Democrat solved a problem that began under a feckless Republican administration.

What you suggest is not necessary (20% interest). It is not necessary BECAUSE Biden is managing the crisis with great competence.

Regarding your fixation on how money is created when a bank finalizes a loan. Yes, that money doesn't exist at that moment. The borrower is trading their future earnings in exchange for money at the present time. So, it's nothing like the picture you paint. The bank is not creating money out of nothing. The borrower is promising to create value through their efforts and pay the bank back through their future earnings. The system is based upon faith but not an empty promise. The borrower must show to the bank that they are able to pay that loan back. So, money is not being "created" by the bank. It is created over time by the borrower.
 
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Lucky Luke

Lucky Luke

Well-Known Member
A

ActionianJacksonian

Well-Known Member
A

ActionianJacksonian

Well-Known Member
Fogdog said:
Inflation back then is nothing like the inflation we've experience today.

For one thing, recently, we've only had something like three months of high annualized inflation. The era of high inflation you refer to lasted more than a decade. You are either fear mongering of some kind of Chicken Little. Maybe a Pigeon Little or Rat Little. In any case, the sky is not falling. We are not at the beginning of decades-long high inflation. Nobody with knowledge and experience on the subject says we are. I suppose you will find a few who do. The exception proves the rule.

For another thing, in that earlier era of high inflation, it first became a serious problem under Nixon. It was 5.5% in 1970 while Nixon was still in office and peaked at 14.5% when Reagan was in office. Typical of righties to blame problems that begin during a Republican presidency on Democrats. Authoritarians are like that. The truth matters not to them. More rightly you should have called it Nixon inflation or even more close to the truth, it should be called Republican inflation. Nixon tried to fight inflation using price controls. And that policy failed just like price controls have failed every time before. Carter was the one who initiated a policy of fighting inflation with high interest rates. Again, it was a Democrat solved a problem that began under a feckless Republican administration.

What you suggest is not necessary (20% interest). It is not necessary BECAUSE Biden is managing the crisis with great competence.

Regarding your fixation on how money is created when a bank finalizes a loan. Yes, that money doesn't exist at that moment. The borrower is trading their future earnings in exchange for money at the present time. So, it's nothing like the picture you paint. The bank is not creating money out of nothing. The borrower is promising to create value through their efforts and pay the bank back through their future earnings. The system is based upon faith but not an empty promise. The borrower must show to the bank that they are able to pay that loan back. So, money is not being "created" by the bank. It is created over time by the borrower.
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Incorrect. Currency is created by the borrower via endorsement and vetting at the time of a loan. It's so elementary I'm not sure why you would attempt to deny it.

That's just us though. What are the future earnings the government trades?
 
Offmymeds

Offmymeds

Well-Known Member
I don't see how anyone can see the effects of the pandemic, disruption of the supply chain, a progressive rate of automation, necessary emergency stimulus strategies, Putin's war and his attempts to disrupt the food supply along with the needed sanctions to fight for Ukriane and democracy, global inflation, and then come away thinking "Why didn't Biden and the Fed fix this last week?" or "Tariff-boy would know what to do. He just likes to keep it a secret."
 
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