A key inflation measure rose to a 39-year high to 6.8 percent last month under Biden, as Republicans pounce on the bad economic news

[AzogtheDefiler]

Sure.

Excellent. First logical response from you...

 

[DBA]

Yes, I am very happy to have voted for President Biden.

Just look at our economy and markets from last year.

If that is your measure of happiness, you would have been MUCH happier if Trump was president. Our markets would be absolutely soaring.

 

[Claudette]

otto105
The markets soared when Trump was POTUS as well and the economy was great.

The markets go up. The markets go down. That happens all the time and it will happen for Bidung as well.

 

[Claudette]

DBA
Yup and we tax payers are funding it all. Oh I love getting my money back from the Government and would love another Stim check. LOL

 

[Claudette]

otto105
Last year we were suffering through a pandemic as was every other country in the world. Every economy was in the toilet. You really aren't very smart.

 

[DBA]

DBA
Yup and we tax payers are funding it all. Oh I love getting my money back from the Government and would love another Stim check. LOL

I pay taxes and haven't gotten any stimulus checks. I guess to Democrats this is just another example of the "rich" not paying their fair share. I am funding the stimulus checks for those that pay no federal income taxes.

 

[Claudette]

DBA
Nice to know you're rich. Congrats. Wish I was. LOL

 

[DBA]

DBA
Nice to know you're rich. Congrats. Wish I was. LOL

I put rich in quotes for a reason. According to Democrats, I fit the bill.

 

[otto105]

I'm not just talking about JUST stimulus or extra unemployment. I am talking about the raise in SNAP and the advance and now fully refundable child tax credits. People have more money to spend per month because they are either getting an advance(some of which will be in for a rude awakening on tax day) or actually getting free money from the government per month per child because it is given to those that pay no income taxes. $300 per child under 5 and $250 for each child 6-17. That is quite a bit of extra money per month to spend for some families.

Now, for stimulus checks. There are more coming. $1400/ adult and $500/child to those under certain income limits. A family of 5 with 2 kids under the age of 5 and 3 from 6-17, who pays no federal income taxes would get a $4300 stimulus check in Dec. in addition to their monthly $1350 child tax "credit" check that they receive monthly. Keep in mind, this doesn't include SNAP or housing allowances and this money is completely tax-free for them. $5650 after taxes in 1 month is equivalent to someone making at least 80k/yr. Granted, they won't get the stimulus every month, but they will get the child tax credit and all their other bills are paid for anyway. Can you see why they are not working and why they are spending money?


It is hard to keep up with all the freebies, isn't it?

Child tax credit: An extra $1,800 per kid? You could still get money after monthly checks end next week

You're delusional if you think any of that is driving inflation. SNAP and the child tax credits? Maybe some stimulus checks in the future?

Now answer the question, when were those payments again.

 

[iamwhatiseem]

The Government gave out $1.9 trillion in Covid windfall...and made rent "optional".... ya think maybe, just maybe that increased spending???

Naaaaah

Idiots

 

[otto105]

Excellent. First logical response from you...

So, were off to a start...How was the Michigan Consumer Sentiment number just released today?

 

[AzogtheDefiler]

So, were off to a start...How was the Michigan Consumer Sentiment number just released today?

I do not live in Michigan.

 

[otto105]

The Government gave out $1.9 trillion in Covid windfall...and made rent "optional".... ya think maybe, just maybe that increased spending???

Naaaaah

Idiots

No, I don't think that increased spending. People who lost jobs and fell behind on rent aren't buying goods enough to push inflation.

 

[otto105]

I do not live in Michigan.

You have never heard of the Consumer Sentiment Index by the University of Michigan?

Yet, you claim economic knowledge....

 

[DBA]

You're delusional if you think any of that is driving inflation. SNAP and the child tax credits? Maybe some stimulus checks in the future?

Now answer the question, when were those payments again.

Inflation is largely due to higher demand(money to spend) and less supply. Why do we have less supply? We have a labor shortage and supply is not moving. Why do we have more demand? Many people have money to spend thanks to handouts. Remember that even those working are getting the extra money. Why do we have a labor shortage? People who typically do these jobs are not working because they don't have to. Shallow thinking won't get you far.

The child tax credits are received every month. The stimulus payments are due again on Dec. 31st. It will be the 4th round of checks.

 

[basquebromance]

"Federal Reserve Chairman Jerome Powell says that he no longer believes inflation is transitory. "

 

[DBA]

You have never heard of the Consumer Sentiment Index by the University of Michigan?

Yet, you claim economic knowledge....

Yeah, the government is doling out money and many are happy to spend the money. This isn't rocket science.

 

[DBA]

"Federal Reserve Chairman Jerome Powell says that he no longer believes inflation is transitory. "

We all knew this months ago except the Democrats and Powell.

 

[iamwhatiseem]

We all knew this months ago except the Democrats and Powell.

I am old enough to know that once prices go up... they rarely ever go back down to what they were before they went up. Gasoline exception.
If something is $22 and inflation this year causes that to go to $24.50... it MIGHT go back to say $23.75... but never $22 again

 

[otto105]

Inflation is largely due to higher demand(money to spend) and less supply. Why do we have less supply? We have a labor shortage and supply is not moving. Why do we have more demand? Many people have money to spend thanks to handouts. Remember that even those working are getting the extra money. Why do we have a labor shortage? People who typically do these jobs are not working because they don't have to. Shallow thinking won't get you far.

The child tax credits are received every month. The stimulus payments are due again on Dec. 31st. It will be the 4th round of checks.

Wow, a simpleton just Googled Econ 101?

The middle class has more money because they were at home most of last year. The stimulus check where late in 2019 and early in 2020. While people used them on home renovations driving stocks and profit at companies like Home Depot. They increased their savings from the lock downs and are spending them now.

Your fixation on conservative talking points is juvenile.

Labor shortage? Maybe decreased immigration from the previous administration has had an impact. Additionally, people are sick off putting up with low wage, shitty hours and maskholes in retail and food service jobs.

People aren't working because they don't have too? Damn...why don't people like 12K/yr jobs?