Republicans Have No Plan to Fix Inflation

[g5000]

The only way to fix inflation is for the Fed to increase interest rates.

This will be followed by a recession, just like in the 80s.

And then the economy will come roaring back.

 

[LeftofLeft]

Nobody in the world has an answer to inflation currently...But, I am sure Hitler will be elected to remedy the situation soon, as they always do.

But let’s make the US taxpayer fund gender studies in Pakistan at the tune of $10M in the face of 8.3 inflation and $5 gas prices??

 

[Flopper]

There was no inflation like this under President Trump. Proof is in the pudding and the people know it. It's about trying to survive this Biden Depression.

There was low inflation in Trump's last year in office because unemployment topped 14.7%, the highest unemployment rate in US history.

 

[evenflow1969]

We read and hear all the disinformed talking crazy about Biden, but they have no plan to stop inflation. If they had one, they would have presented it to congress. Because if they had one and it worked, they would most certainly assure themselves the majority. Instead it's been about obstruction and the idiocy of Big Money Manchin and Corporate Slave Sinema.

I say they have no plan because spending by trump contributed to the inflation.

Facts First: While some economists say the stimulus packages passed in response to the Covid-19 pandemic are having an impact on inflation, it's misleading to suggest that's the only explanation for the recent rise in inflation. Blaming it exclusively on Democratic spending proposals misrepresents what's actually been passed, and ignores the trillions of dollars in spending passed last year supported by Republicans and signed by then-President Donald Trump which economists say have also contributed to inflation.

Last year, Congress passed two bills totaling around $3 trillion in Covid relief spending -- the $2 trillion Coronavirus Aid, Relief and Economic Security Act passed in March 2020, and the $900 billion pandemic relief bill passed in December 2020. Both were signed by Trump and supported by Republicans.

Fact-checking Republican attempts to blame inflation on Democrats

As the US economy gradually recovers from the coronavirus pandemic, prices are rising across the board with inflation exceeding the Federal Reserve's 2% target and reaching a 13-year high in June. Republicans have turned that jump in inflation into a political talking point, trying to place the...

www.cnn.com

And Rick Scotts tax increase for all is not the answer. So the Republican plan is to get the majority and start bogus investigations on Hunter Biden and attempt to impeach Biden, then Harris. If they appoint trump to speaker, understand that is the first move to the attempt to reinstall him as president. Sane Americans cannot continue falling for disinformation. Biden is not the reason that supply chains have been hampered, COVID is. And we were negatively affected by COVID due to the incompetence of a republican president. We cannot afford to have crazies running our government.

Sure they do. More tax cuts to the same people who are scoring record profits. More hours of work and no raises for the working man. More unlimited campaign contributions from the ultra wealthy through citizens united and more outlandish conspiracy theories.

 

[basquebromance]

/THREAD

 

[Flopper]

/THREAD

Inflation occur when demand exceeds supply. Looking at increased federal spending and inflation since 1990, there is little correlation between the two. The reason being that supply increases to meet demand cause by increased federal spending and other factors.

Federal spending is just one item that increases demand. The lifting of Covid restrictions has release pent-up demand throughout the country. When supply can not increase with demand which has been the case over the last year, we get a jump in inflation. Anything that hampers the ability of the nation to meet demand such as the war in Ukraine, restrictions on shipments of Russian oil, China's slow response in shipping new orders due Covid restrictions, and massive numbers of retirements due to Covid, has resulted in lower supply while demand is rising and thus increasing inflation

So no it is not just increases in federal spending that is the causing the problem. Demand is rising due to other factors and supply is being hampered.

 

[scruffy]

We read and hear all the disinformed talking crazy about Biden, but they have no plan to stop inflation. If they had one, they would have presented it to congress. Because if they had one and it worked, they would most certainly assure themselves the majority. Instead it's been about obstruction and the idiocy of Big Money Manchin and Corporate Slave Sinema.

I say they have no plan because spending by trump contributed to the inflation.

Facts First: While some economists say the stimulus packages passed in response to the Covid-19 pandemic are having an impact on inflation, it's misleading to suggest that's the only explanation for the recent rise in inflation. Blaming it exclusively on Democratic spending proposals misrepresents what's actually been passed, and ignores the trillions of dollars in spending passed last year supported by Republicans and signed by then-President Donald Trump which economists say have also contributed to inflation.

Last year, Congress passed two bills totaling around $3 trillion in Covid relief spending -- the $2 trillion Coronavirus Aid, Relief and Economic Security Act passed in March 2020, and the $900 billion pandemic relief bill passed in December 2020. Both were signed by Trump and supported by Republicans.

Fact-checking Republican attempts to blame inflation on Democrats

As the US economy gradually recovers from the coronavirus pandemic, prices are rising across the board with inflation exceeding the Federal Reserve's 2% target and reaching a 13-year high in June. Republicans have turned that jump in inflation into a political talking point, trying to place the...

www.cnn.com

And Rick Scotts tax increase for all is not the answer. So the Republican plan is to get the majority and start bogus investigations on Hunter Biden and attempt to impeach Biden, then Harris. If they appoint trump to speaker, understand that is the first move to the attempt to reinstall him as president. Sane Americans cannot continue falling for disinformation. Biden is not the reason that supply chains have been hampered, COVID is. And we were negatively affected by COVID due to the incompetence of a republican president. We cannot afford to have crazies running our government.

It's too late.

You can't print 6 trillion dollars and not get inflation

 

[IM2]

It's too late.

You can't print 6 trillion dollars and not get inflation

Inflation is a worldwide problem. You really need to start getting your information from better sources.

 

[scruffy]

Inflation is a worldwide problem. You really need to start getting your information from better sources.

I have a degree in economics.

Do you know how the money supply works? Do you know why we get inflation?

In a good world, the Fed controls it.

But this, apparently, is no longer a good world. Check the Japanese yields today? Someone posted a chart in the other thread. Japan owns half the government bonds in the whole entire world, if they go the whole world will go with them.

Global, yeah. We do understand. The American economy drives many others. And, we are not invulnerable. As the financial meltdown of 2008 showed us.

 

[kyzr]

I have a degree in economics.
Do you know how the money supply works? Do you know why we get inflation?
In a good world, the Fed controls it.
But this, apparently, is no longer a good world. Check the Japanese yields today? Someone posted a chart in the other thread. Japan owns half the government bonds in the whole entire world, if they go the whole world will go with them.
Global, yeah. We do understand. The American economy drives many others. And, we are not invulnerable. As the financial meltdown of 2008 showed us.

I was watching Bloomberg, and they setup the issue as:
BOJ vs Bond Traders
But what is the battle about? A policy? Interest rates?
They didn't say, but they said the bond market hangs in the balance,

 

[struth]

Inflation has never left us not even during Trump what with his massive amounts of tariffs on imports that raised prices.

inflation rate when trump left office was 1.2 percent. Normal rate

what is it now?

 

[struth]

Biden was supposed to fix the mess that Trump left.

the problem was there wasn’t anything to fix…he just totally f’d everything up

 

[bendog]

It's too late.

You can't print 6 trillion dollars and not get inflation

The gop got away with it, but they gave a larger portion to the 1% and .1%

 

[hadit]

We read and hear all the disinformed talking crazy about Biden, but they have no plan to stop inflation. If they had one, they would have presented it to congress. Because if they had one and it worked, they would most certainly assure themselves the majority. Instead it's been about obstruction and the idiocy of Big Money Manchin and Corporate Slave Sinema.

I say they have no plan because spending by trump contributed to the inflation.

Facts First: While some economists say the stimulus packages passed in response to the Covid-19 pandemic are having an impact on inflation, it's misleading to suggest that's the only explanation for the recent rise in inflation. Blaming it exclusively on Democratic spending proposals misrepresents what's actually been passed, and ignores the trillions of dollars in spending passed last year supported by Republicans and signed by then-President Donald Trump which economists say have also contributed to inflation.

Last year, Congress passed two bills totaling around $3 trillion in Covid relief spending -- the $2 trillion Coronavirus Aid, Relief and Economic Security Act passed in March 2020, and the $900 billion pandemic relief bill passed in December 2020. Both were signed by Trump and supported by Republicans.

Fact-checking Republican attempts to blame inflation on Democrats

As the US economy gradually recovers from the coronavirus pandemic, prices are rising across the board with inflation exceeding the Federal Reserve's 2% target and reaching a 13-year high in June. Republicans have turned that jump in inflation into a political talking point, trying to place the...

www.cnn.com

And Rick Scotts tax increase for all is not the answer. So the Republican plan is to get the majority and start bogus investigations on Hunter Biden and attempt to impeach Biden, then Harris. If they appoint trump to speaker, understand that is the first move to the attempt to reinstall him as president. Sane Americans cannot continue falling for disinformation. Biden is not the reason that supply chains have been hampered, COVID is. And we were negatively affected by COVID due to the incompetence of a republican president. We cannot afford to have crazies running our government.

Let's see if we have this straight. You are upset that Republicans have not presented a plan, yet they hold neither the legislative or executive branches of government. You are NOT upset that democrats have no plan to fight inflation, yet they DO hold both the legislative and executive branches and it is their responsibility. Amazing, the lengths to which you will go to deflect blame and attention away from democrats.

 

[hadit]

Biden was supposed to fix the mess that Trump left.

Let me guess, that didn't happen.

 

[bendog]

The only way to fix inflation is for the Fed to increase interest rates.

This will be followed by a recession, just like in the 80s.

And then the economy will come roaring back.

imo, energy will be a decade long issue, so I'm not so rosy about growth.

What mystifies me is how not just congress but also the Fed failed to see how much money consumers were sitting on.

It passed the senate purely on D votes. I don't see any other way to apportion blame but to put is solely on Biden for failure to rein in his own party, as the most successful recent dem potus, Slick, was able to do. Obama's problem was he just couldn't get anything out of the gop house for 6 years. Not even deficit reduction.

 

[sartre play]

The total insanity that one man much less one political party creates the constant comings & going of poor choices. Made about everything from war to toilet paper shortages.

 

[bendog]

The total insanity that one man much less one political party creates the constant comings & going of poor choices. Made about everything from war to toilet paper shortages.

No, I give both dems and the Fed total passes on the failure to foresee the supply problems. We haven't restarted an econ since 1947, and Truman is consistently rated highly for guiding that. But we'd been at war and really a socialized econ for at least 6 years. It wasn't that his advisors didn't know what was coming. He simply guided policy. And in 1947, we were the global econ.

Also, no one really thought Putin was insane enough to effectively kill what progress Russia made producing anything other than oil, which is not actually produced.

But the fed should have ramped up rates when the ARA was passed on a pure party line vote in the senate, even while the centrists who'd lost the party to the progs were questioning the added stimulus. Greenspan did much the same with W prior to his wrecking the entire nation in Iraq. The only ones who got it right were 49 gop senators. Of course, look at their deficit performance for the four previous years, so a Nobel for economics . .. not.

edit: but I do blame Biden for failing to rein in the extreme wing in his party on a spending bill. He's just too old.

 

[Wickerthing]

Elect Trump or DeSantis in 2024 and Inflation will be back under control in a year.

A good start would be to return the 250 million bucks to the Trump cult foolish enough to believe the kind of nonsense you are selling here. When are you fools gonna understand that he doesn't care one iota about his voters. He looks upon you as suckers and fools just as he does Veterans. His single focus is on money and how to get more of it. And he doesn't care where it comes from or who it hurts. To continue to support him, you are doubling down on the idea that you are the suckers that he counts on to keep the flow of dough going into his pockets.

 

[EvilCat Breath]

No one here seems to have a clue as to what causes inflation much less how to stop it. Fuckwad Biden created this inflation by printing money with no assets behind it. Worthless paper and then flooding the market with what essentially is counterfeit cash. Everyone gets a check for staying home.

This has ideally been illustrated by the crash of Zimbabwe. Robert Mugabe took power and immediately started printing money. Everyone is rich. They needed trillion dollar bills just to keep up with the inflation. Inflation is the value of currency inflated by overspending.

Of course Republicans know how to fix it. So do democrats. The printing and spending has to stop. Overregulation has to stop. The value of the dollar will start to deflate. The economy will contract and we will have a painful but necessary recession.