Surging inflation hurts low-income Americans the most

[Slade3200]

Of course they are, their policies are driving the inflation, we are not strangers to this as California and NY have always been prime examples of poorly run states with higher prices for no reason

Is that right?! The entire world is undergoing inflation because of things you think the democrats are doing?! Can you explain how that works please?

 

[Slade3200]

Ohh look, "go fetch." No Reich member has ever used that clever ruse before....

{
For instance, oil prices are higher for two reasons. First, U.S. production has declined by about two million barrels per day since 2019, even as demand has recovered from the COVID-19-induced downturn. Oil markets are global, so the fall-off in output would not necessarily jack prices up, but our declining output needs to be offset by an increase elsewhere.

Enter OPEC, which has not restored output to the level necessary to bring down prices, despite repeated pleas from Biden.

Meanwhile, Biden has done a lot to discourage a resurgence in U.S. drilling and production. He has cancelled pipelines, threatened oil and gas producers with higher taxes, taken promising acreage out of play, such as the Arctic Natural Wildlife Refuge, slow-walked leasing and new drilling permits and, most recently, imposed new methane-curbing rules that make drilling more expensive.

What sensible person would invest in the oilfield in the face of such unrelenting hostility? Drilling activity is up, but nowhere near where it should be at $82 per barrel oil.

Another boost to inflation came from housing. With “shelter” accounting for some 40 percent of the CPI, economists have warned that fast-rising home prices would eventually seep into higher inflation readings. In October, we saw this occur, with the increase in the cost of shelter accelerating to 0.5 percent from September, an annualized rise of 6 percent.

One reason home prices have been increasing at nearly 20 percent per year is that the Federal Reserve has continued to buy up $15 billion worth of mortgage-backed bonds each month, keeping mortgage rates artificially low. The result has been a booming market, driving home prices, and now rents, higher.

At long last, the Federal Reserve has announced it will begin to throttle back its bond-buying program, including the purchases of mortgage-backed bonds. Critics think the Fed is behind the curve, having seriously underestimated price pressures.

Biden does not control the Fed, but he has made no secret of his preference for the easy money policies that have helped prop up the economy, and the stock market. Fed Chair Jerome Powell’s term ends in February; Biden has recently interviewed not only Powell but also Fed Governor Lael Brainard, a known dove and Obama appointee, for the position.}

Voters are correct: Biden is to blame for inflation

Ultimately, inflation is the result of too much money pursuing too few goods. That’s what is happening now.

thehill.com

Nice subject change. But you fetched the wrong ball bucko. You made up a claim that I said something that I never said… that was a lie. Why should I respect or even read anything else you say when you’re outright lying about me?

 

[TNHarley]

Inflation is happening all over the planet. Democrat policies are making it worse.
As always, the federal govt fucks up more than it helps.
Thats why i call federal supremacists the stupidest mother fuckers on the planet.

 

[Manonthestreet]

MSN

Yet another crisis is also unfolding for American farm exports.

The same congestion at U.S. ports and shortage of truck drivers that have brought the flow of some goods to a halt have also left farmers struggling to get their cargo abroad and fulfill contracts before food supplies go bad. Ships now take weeks, rather than days, to unload at the ports, and backed-up shippers are so desperate to return to Asia to pick up more goods that they often leave the United States with empty containers rather than wait for American farmers to fill them up.

 

[Harpy Eagle]

Ronald Reagan (Ex-Democrat) came in and set the United States on the path to economic success.

And all it took was increasing the national debt by 180%.

 

[MarathonMike]

Otis Mayfield You do realize there are adustable rate mortgages, right?

 

[Rambunctious]

Food banks are running on empty....so now even the homeless and working poor are victims of the democrats....

 

[Care4all]

What a surprise, proven again and again, Democrats do not care about the poor nor represent their interests-OG

American consumers are grappling with the highest inflation rate in more than three decades, and the surge in the price of everyday goods is disproportionately hurting low-income workers, according to a new analysis published Monday by the Joint Economic Committee Republicans.

The research concluded that higher inflation – which erodes individual purchasing power – is especially harmful to low- and middle-income Americans. The GOP lawmakers cited research from both the Federal Reserve Banks of Cleveland and New York, which found that inflation reduces poor individuals’ lifetime consumption opportunities more than their wealthier counterparts – largely due to rising gasoline prices.

WHERE IS SURGING INFLATION HITTING AMERICANS THE HARDEST?

"Inflation reduces poor Americans’ quality of life, and rising gas prices specifically increase the cost of living for poor Americans living in rural areas much more than for richer Americans," the JEC analysis said.

https://www.foxbusiness.com/economy/...come-americans

Makes sense that food and gas price hikes would not hurt the rich, and hurt the rich, the least....

It's a given those with less than the rich, are hurt most.

Inflation on gas and food all being Biden's fault, is what's hogwash!

 

[Votto]

inflation is being driven from supply chain issues worldwide. It’s not a Republican/Democrat thing. Take off the blinders

Democrats only cause good things, but bad things are either Trump's fault, like Covid deaths, or they just happen naturally.

 

[Rambunctious]

The dems always end up hurting the poorest among us....

 

[ColonelAngus]

Lefties pivot from THERE IS NO INFLATION! to….INFLATION IS GOOD!

You people are such lying trash.

 

[Care4all]

The dems always end up hurting the poorest among us....

So what specifically have the democrats done, to do that.... proof? Generalities mean nothing, be specific, pretty please.

 

[Care4all]

Lefties pivot from THERE IS NO INFLATION! to….INFLATION IS GOOD!

You people are such lying trash.

Inflation isn't good! But this inflation has a known cause and is suppose to be temporary.

 

[ColonelAngus]

Bread lines are a good thing!

Lefty tards.

 

[Slade3200]

Democrats only cause good things, but bad things are either Trump's fault, like Covid deaths, or they just happen naturally.

That’s you just abandoning the argument all together. Thanks for playing.

 

[Votto]

That’s you just abandoning the argument all together. Thanks for playing.

Printing large amounts of money causes inflation, at least according to economic before Biden. It's just like anything else of value, the more of it there is the less valuable it becomes dingleberry.

But during Biden, we learn that $3.5 trillion really equals zero dollars. No doubt you agree.

 

[Weatherman2020]

What do the democrats have to do with inflation?!

Oh
My
God

 

[Slade3200]

Printing large amounts of money causes inflation, at least according to economic before Biden. It's just like anything else of value, the more of it there is the less valuable it becomes dingleberry.

But during Biden, we learn that $3.5 trillion really equals zero dollars. No doubt you agree.

You’re understanding of economics is flunking out of elementary.

If you’re going to blame inflation on printing money then you need to place at least half the blame on Trump as well. But what we are seeing now in our economy is not from money printing it is from supply chain and a pandemic. It is a world wide issue. Not a democratic thing. Wake up

 

[Ordinary Guy]

Makes sense that food and gas price hikes would not hurt the rich, and hurt the rich, the least....

It's a given those with less than the rich, are hurt most.

Inflation on gas and food all being Biden's fault, is what's hogwash!

His policy has consequences, we are seeing them live.

 

[braalian]

Don’t worry, I’m sure flooding the economy with 1.2 trillion dollars of government money will slow inflation down.