The Truth About Bidenomics

[Votar Roja]

Inflation in real time: pork loins packaged three days apart, priced .30 different per pound. Insanity.

 

[Votar Roja]

What is your education, training and practical experience in economics and markets?

What an ignorant stupid question.
American Universities and previous Soviet Universities produce(ed) armies of Marxists and Socialists.
Tell us what good their university education did?

Good morals and hard work produced Abraham Lincoln.

Go fuck yourself moron.

 

[Mac1958]

What an ignorant stupid question.
American Universities and previous Soviet Universities produce(ed) armies of Marxists and Socialists.
Tell us what good their university education did?

Good morals and hard work produced Abraham Lincoln.

Go fuck yourself moron.

Yeah, I didn't think so, rube.

Dittos, Rush.

 

[Votar Roja]

 

[Votar Roja]

Bidenflation Sequel: Another Horror Film

Bidenflation Sequel: Another Horror Film

Like Dracula rising from his coffin to haunt the living, inflation is returning with a vengeance. While the Biden administration has been busy taking credit for inflation coming down—after conspicuously denying culpability for running it up to 40-year highs in the first place—President Biden is...

www.heritage.org

Like Dracula rising from his coffin to haunt the living, inflation is returning with a vengeance. While the Biden administration has been busy taking credit for inflation coming down—after conspicuously denying culpability for running it up to 40-year highs in the first place—President Biden is once again silent as inflation reaccelerates. Worse, Bidenomics is keeping the monster of inflation alive.

Annual inflation, as measured by the consumer price index, rose from 3.0% in June of this year to 3.2% in July, and when the figures for August come out, we’ll surely see that it’s risen again. That’s no surprise, though, given the breakneck pace of spending and borrowing by the U.S. Treasury after the debt ceiling was suspended in June.

In response to Treasury Secretary Janet Yellen’s trillion-dollar borrowing spree over the last several months, the Federal Reserve has allowed the money supply to grow. That is providing the federal government with the money it wants, but it’s casting a shadow on the American financial landscape, beckoning the inflation Dracula to return.

Congress and the White House spent over $6 trillion last fiscal year and are projected to do the same by the end of the current fiscal year too. Even drunken sailors would blush at these numbers. So much spending has caused the Treasury to borrow over $1 trillion a year, and the Fed obliges by creating money to keep the Treasury’s borrowing costs artificially low, financing a $32 trillion debt.

But as the federal government spends, borrows, and creates too much money, an unseen transfer of wealth happens. Every time the Fed creates a dollar for the government, it slightly devalues all other existing dollars, effectively shifting that lost value into the newly created money. This is why inflation is a hidden tax: It transfers wealth from the people to the government.

How big is this wealth transfer? In July, the average American worker earned $33.74 an hour and paid $3.37 per hour in federal income taxes. But inflation has reduced the purchasing power of that worker’s pay by $4.62 an hour, compared to when Mr. Biden became president.

That reduction in what the worker can buy with his wages represents a real tax on him and is the amount of wealth the government confiscates from him on an hourly basis while he is working. In other words, the hidden tax of inflation has more than doubled the effective income tax rate of the average American worker to pay for excessive federal government spending.

It is shockingly like a vampire parasitically draining his victims to sustain himself. The American people are being robbed of their savings and their incomes so that a bloated bureaucracy can continue expanding. If it’s allowed to continue, it will eventually siphon all the life from Americans’ livelihoods.

So, how do we stop the monster? Trimming the federal budget is the sunlight that will force the inflation Dracula back into his coffin.

And it’s imperative that this start soon. The financing costs of the federal debt are exploding, which only further increases government spending, making the situation deteriorate even faster. It’s just like a household budget where the response to a maxed-out credit card is to open another one and max that out too. The interest charges on each one only exacerbate the family’s financial difficulties.

The dynamic of this vicious downward spiral is playing a key role in the current reacceleration of inflation, which began in July and will certainly continue in August.

Fortunately, large and steady reductions in the federal budget can stop both this failure of federal finance and the deterioration of the dollar. Slamming the brakes on government spending will remove the Fed’s incentive to create inflation, and then prices will finally stabilize as the Treasury’s borrowing bonanza comes to an end.

That is the only way to drive a stake through the heart of the inflation Dracula.

 

[Votar Roja]

Bidenflation is not going away

President Joe Biden claimed in his State of the Union address that "inflation is coming down. ... Food inflation is coming down. Inflation has fallen every month for the last six months while take-home pay has gone up."

www.washingtonexaminer.com

nflation is still high and barely moving downward as of last month, when it was 6.5% annualized. Even that statement understates the problem. For the inflation rate is not like the unemployment rate. Just because it goes down doesn't mean prices are coming back down and that your groceries are getting more affordable. Rather, it only means prices are rising slower than before, but they are still rising.

Inflation is cumulative. So January's inflation rate of 6.4% means prices are still rising at a ruinous rate, almost certainly faster than your pay even though by less than the 9% rate that horrified shoppers last summer.

Specific household expenses reveal inflation that is even worse than the headline number suggests. Groceries in January cost 11.3% more than a year ago. Electricity is up nearly 12%, and natural gas 27%. Airfares are up almost 26%. Rents are up almost 9%. The picture is grim despite continued low unemployment — which may anyway not last if interest rates are cranked up further to fight persistent inflation.

Whether a "soft landing" is possible, every day brings a new reminder of how ridiculously wrong the White House was in its insistence that inflation was merely "transitory" in 2021. Biden's stubborn insistence on more stimulus spending despite the massive amounts shoveled by former President Donald Trump created exactly the difficulties people predicted at the time. Low production due to COVID-19, plus more borrowed government money in circulation, is the textbook recipe for inflation. And we're now in it up to our ears . . . . (SNIP)

 

[Votar Roja]

 

[JackOfNoTrades]

Ignorant stupid remark.

Truth. Unfortunately. And that's the thing that irritates me the most about you members of Alt-Right Nation.
You don't have a clue about how things actually work. You just know what your media masters parrot.

 

[iamwhatiseem]

The inflation was inevitable. And Trump, with his massive spending and reliance on TRILLIONS from the Fed, played a role in it.

But he says otherwise, and so the sheep swallow it whole. As usual.

Trump calls on Fed to cut rates by 1% and urges more quantitative easing

In a two-part tweet, the president says more easing would make the economy "go up like a rocket."

www.cnbc.com

Trump pushes Fed to lower interest rates in series of tweets

President Donald Trump is pushing the Federal Reserve to lower interest rates, claiming it would help the economy to "go up like a rocket."

www.usatoday.com

No
Every conservative I know was against Trumps original Covid windfall payments to every citizen.
It made absolutely no sense, and many, including myself suspected the timing of those payments and the 2020 election.
We were also against Trumps 2nd, smaller Covid windfall payments.
Then Biden became President and immediately began plans for at least one more windfall payment.
Then he extended the absurd unemployment bonus not once, but twice... clear into 2022.
Before that was the rent easement. Not only was everyone getting free money they didn't need, but you don't have to pay your bills either... what a deal!

In the end, Trumps original 2 windfall payments began the process of certain inflation. It takes about 15 months from the time an event happens before prices go up. And that is exactly what happened.
However, that inflation was nothing compared to what was to come after Bidens gross expansion of covid gifting and extensions - smack dab in the middle of a supply crises. It is the most irresponsible economic act by a President in U.S. history.
And that is how we got record inflation.

 

[Mac1958]

No

No.

Chronologically:

1. Trillions and trillions and trillions in stimulus are pumped into the economy since 2009
2. The Fed purposely keeps interest rates as low as possible
3. We ALL go all those years waiting for all this stimulus to create MASSIVE inflation
4. COVID hits and the economy falls into complete structural disarray and becomes wildly uneven
5. COVID subsides, many industries struggle to re-open having lost employees and having made big systemic changes
6. Flush with cash, demand explodes globally coming out of the COVID lockdowns
7. Supply chains immediately collapse worldwide, across virtually all industry (production/distribution) strata
8. Inflation hits and rapidly compounds on itself with supply chains still paralyzed
9. The Fed waits far too long (maybe 8 to 10 months) to gradually control the inflation with higher rates
10. Far behind the curve, the Fed has to keep increasing rates and the strain on the real estate market begins
11. The increased interest rates damn near put a boot on the throat of the economy, sending the real estate market into a decline
12. Today, inflation remains elevated because of the relative strength of the economy, but there are signs of weakness, so the "soft landing" theory may be tested soon.

And your agreement with the above is not required.

 

[iamwhatiseem]

No.

Chronologically:

1. Trillions and trillions and trillions in stimulus are pumped into the economy since 2009
2. The Fed purposely keeps interest rates as low as possible
3. We ALL go all those years waiting for all this stimulus to create MASSIVE inflation
4. COVID hits and the economy falls into complete structural disarray and becomes wildly uneven
5. COVID subsides, many industries struggle to re-open having lost employees and having made big systemic changes
6. Flush with cash, demand explodes globally coming out of the COVID lockdowns
7. Supply chains immediately collapse worldwide, across virtually all industry (production/distribution) strata
8. Inflation hits and rapidly compounds on itself with supply chains still paralyzed
9. The Fed waits far too long (maybe 8 to 10 months) to gradually control the inflation with higher rates
10. Far behind the curve, the Fed has to keep increasing rates and the strain on the real estate market begins
11. The increased interest rates put a boot on the throat of the economy, sending the real estate market into a tailspin
12. Today, inflation remains elevated because of the relative strength of the economy, but there are signs of weakness, so the "soft landing" theory may be tested soon.

And your agreement with the above is not required.

No again.
You alluded that conservatives didn't care about this when Trump was President.
Not true at all. And all of the things you say above - only conservatives complain about them.
Democrats would be perfectly fine for every one of them to be expanded.

 

[iamwhatiseem]

Inflation in real time: pork loins packaged three days apart, priced .30 different per pound. Insanity.

View attachment 833393

I have 2 in the freezer now.
Also pork shoulder. Also several packages of chicken thighs that were strangely on sale a couple weeks ago.

 

[Mac1958]

No again.
You alluded that conservatives didn't care about this when Trump was President.
Not true at all. And all of the things you say above - only conservatives complain about them.
Democrats would be perfectly fine for every one of them to be expanded.

Everything you've said is partisan/political in nature. My post #50 had nothing to do with politics.

I'll take my two decades of training and practical experience in this field, and the information I get from proprietary industry resources, over the word of a guy on a message board.

Sorry.

 

[iamwhatiseem]

Everything you've said is partisan/political in nature. My post #50 had nothing to do with politics.

I'll take my two decades of training and practical experience in this field, and the information I get from proprietary industry resources, over the word of a guy on a message board.

Sorry.

Not partisan?? - haha... you said "but Trump said otherwise, so THEY swallowed it whole".
That is a lie. Not true at all.
And is 100% partisan thinking.

 

[Votar Roja]

No
Every conservative I know was against Trumps original Covid windfall payments to every citizen.
It made absolutely no sense, and many, including myself suspected the timing of those payments and the 2020 election.
We were also against Trumps 2nd, smaller Covid windfall payments.
Then Biden became President and immediately began plans for at least one more windfall payment.
Then he extended the absurd unemployment bonus not once, but twice... clear into 2022.
Before that was the rent easement. Not only was everyone getting free money they didn't need, but you don't have to pay your bills either... what a deal!

In the end, Trumps original 2 windfall payments began the process of certain inflation. It takes about 15 months from the time an event happens before prices go up. And that is exactly what happened.
However, that inflation was nothing compared to what was to come after Bidens gross expansion of covid gifting and extensions - smack dab in the middle of a supply crises. It is the most irresponsible economic act by a President in U.S. history.
And that is how we got record inflation.

I think your pendulum has swung too far to the right.

At the very beginning of Covid Trump was justified taking a few extraordinary precautions to protect Americans. But soon after that, when smart people new it was time to get back to business, people like DeSantis and Trump, thats what they did. DeSantis was attacked for putting Floridians in danger, but of course the attacks were nonsense.

Unfortunately Fascist Democrat governors did what they always do, take advantage of a disaster to advance their evil agenda and break all the laws they can, so they kept destroying the economy under the pretense of Covid dangers as part of their election theft.

I dont think that Trumps original 2 windfall payments have anything at all to do with todays BidenFlation and skyrocketing fuel and food prices.

 

[JackOfNoTrades]

Not partisan?? - haha... you said "but Trump said otherwise, so THEY swallowed it whole".
That is a lie. Not true at all.
And is 100% partisan thinking.

You've been owned. I would quit while you're behind.

 

[iamwhatiseem]

You've been owned. I would quit while you're behind.

Coming from you, that means I am 100% correct.
Thanks for the compliment

 

[JackOfNoTrades]

Coming from you, that means I am 100% correct.
Thanks for the compliment

You're wrong and you have absolutely ZERO idea of what you are talking about.
You are a partisan parrot. You repeat what your alt-right media masters tell you to.

 

[Votar Roja]

Coming from you, that means I am 100% correct.
Thanks for the compliment

Reading through his post history, he does not seem to have all his marbles

 

[JackOfNoTrades]

Reading through his post history, he does not seem to have all his marbles

Thanks for the laugh this morning.
You are another that has zero idea of what he speaks about.