White House admits their spending spree caused inflation.

[Natural Citizen]

Many things CAN contribute to inflation. It's not one thing. Really.

This time around it was, in chronological order:

1. Around $9 TRILLION in pure stimulus is pumped into the economy since 2009
2. An extra $2 TRILLION is poured into the system to save short term credit markets in 2019
3. Interest rates are kept mashed down, causing bond yields to crash up to 60%
4. We ALL go all that time waiting for this historic stimulus to create MASSIVE inflation
5. COVID hits and the economy falls into complete structural disarray
6. The economy contracts, hitting & weakening supply chains across virtually all economic strata
7. COVID subsides and global economies re-open. The USA is flush with cash
8. Demand explodes globally (particularly the USA, with all its stimulus) coming out of the COVID lockdowns
9. Supply chains immediately collapse worldwide, causing production and distribution to freeze up
10. Inflation hits and quickly compounds on itself from demand with supply chains paralyzed up and down
11. The Fed waits far too long (maybe 10 to 12 months) to gradually mitigate the inflation
12. Russia's invasion and destruction of Ukraine provides another important inflationary irritant

And, let's not forget:

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

The Fed, in my view, is the primary facilitator and always has been.

They've historically tinkered with the CPI as well.

Interest rates aren't anywhere near what they would be in a genuine free market.

If you think about it, we can't even technically have a monetary policy without taxes now. Of course, that's getting a little deeper into it.

Anyway. I was just ondering what your thoughts were on it. I would disagree with the relevance of a few of your points and lean more toward them being used as politically convenient scapegoats given that the Average American is clueless to economics and monetary policy and susceptible to the doublespeak.

Of course, Other points I do agree with.

 

[busybee01]

Of course it did! Even an Obama top economic advisor has said the bailout is the reason inflation is here and won't go away.

Obama aides blame Biden spending for inflation​

Obama aides blame Biden spending for inflation - Washington Examiner

Former President Barack Obama’s top economic advisers know exactly who is to blame for the current inflation undermining the U.S. economy: President Joe Biden. Writing back in February, before Biden’s first trillion-dollar spending law was passed by Congress, National Economic Council Director...

www.washingtonexaminer.com

He is clueless as to what he is talking about. The stimulus ended years ago. He clearly does not understand what is going on and is as clueless as the Fed. It is time to abolish the Fed.

 

[busybee01]

After printing endless trillions and releasing it all at once into the public this is the result. A sugar high of spending and then the crash. Yes, our govt had a huge part.

The government has nothing to do with it. This is price gouging.

 

[Nostra]

He is clueless as to what he is talking about. The stimulus ended years ago. He clearly does not understand what is going on and is as clueless as the Fed. It is time to abolish the Fed.

Lies. Billions of the so-called "stimulus" has yet to be spent. That means more high Bidenflation is on the way.

 

[busybee01]

The spending did not cause inflation.

Just show your ignorance. Maybe we should revoke the Trump tax cuts for the rich. That is inflationary by your argument and Republicans are talking about more tax cuts. By your logic, that is inflationary.

 

[busybee01]

Lies. Billions of the so-called "stimulus" has yet to be spent. That means more high Bidenflation is on the way.

Bullshit. The spending is spread out over the next decade. Much of the spending is justified.

 

[Nostra]

Just show your ignorance. Maybe we should revoke the Trump tax cuts for the rich. That is inflationary by your argument and Republicans are talking about more tax cuts. By your logic, that is inflationary.

How does raising the amount of revenue coming into the treasury cause inflation, Simp?

That's what happened after the Trump across the board tax cuts.

 

[Nostra]

Bullshit. The spending is spread out over the next decade. Much of the spending is justified.

Bullshit? you just proved what I posted, you raving lunatic.

I said billions have yet to be spent, and you come back with "Bullshit" the spending is spread over the next decade.

 

[Carl in Michigan]

I

First time that bitch told the truth.

It was an accidental admission

 

[LordBrownTrout]

The government has nothing to do with it. This is price gouging.

You really are clueless. I feel sorry for people like you.

 

[22lcidw]

Why didn't they post her WHOLE answer???? This is yet another example of Republicans editing comments to make it seem like a Democrat said something they didn't say. "You didn't build that" being a prime example.

I have little concern for Prog family members. Only those close to me. Progs promoted themselves as adults. 50 years of Joe. What a joke and it is on us all.

 

[JWBooth]

Nonsense!

The one and only cause of inflation is business people raising prices.

Some of that is justified, some is not.

Unimpressive display of a toddler level understanding of economics.

 

[Richard-H]

Unimpressive display of a toddler level understanding of economics.

Thanks for the idiotic reply.

Here's the definition of inflation:

"In economics, inflation is a general increase in the prices of goods and services in an economy"

The only way the prices increase is if the business people that set the prices raise those prices.

Inflation is not magical, dumbass!

The business people that set the prices may have good reason to do so, or they may not. Economic conditions, such as an increase in the money supply may or a disruption in the supply chain may ultimately cause the conditions that justify price increases, but it's still a decision made by business people.

Right now, oil companies and oil producers are making tremendous profits while cutting supply intentionally - they are intentionally causing inflation.

 

[jc456]

That isn't what she said, and it isn't what has caused this inflation.

Derp

 

[jc456]

Thanks for the idiotic reply.

Here's the definition of inflation:

"In economics, inflation is a general increase in the prices of goods and services in an economy"

The only way the prices increase is if the business people that set the prices raise those prices.

Inflation is not magical, dumbass!

The business people that set the prices may have good reason to do so, or they may not. Economic conditions, such as an increase in the money supply may or a disruption in the supply chain may ultimately cause the conditions that justify price increases, but it's still a decision made by business people.

Right now, oil companies and oil producers are making tremendous profits while cutting supply intentionally - they are intentionally causing inflation.

yep, the president slowed refinery production of gas, which caused an increase of price at the pump by 100%.

Companies and Truckers who provide services for dispensing supplies to the country had to fork out more dollars for gas and raised the price of goods at the store.

Because those two steps caused inflation to climb, the fed raised the interest rates

You're welcome.

 

[hadit]

That isn't what she said, and it isn't what has caused this inflation.

That didn't take long. Interesting, it's the tried and true, "Nuh-uh", is NOT! defense.

 

[Mac1958]

That didn't take long. Interesting, it's the tried and true, "Nuh-uh", is NOT! defense.

Yeah, right. Please see post 39.

You will not understand it.

 

[hadit]

WHAT?

No, I'm talking about quantitative easing. And your earthly deity BEGGED THE FED FOR MORE of those "free" inflationary dollars, going LONG BEFORE anyone had heard of COVID. He even begged them to drop interest rates, ANOTHER inflationary move.

You don't even know what I'm fucking talking about. Hannity and Tucker don't tell you about this.

Holy shit, you people. You are told so little in your world.

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

And there's the big switch to the old buggaboo, "But, but, but TRUMP!".

 

[Mac1958]

And there's the big switch to the old buggaboo, "But, but, but TRUMP!".

Facts are facts. I provided proof. Tough shit.

 

[jc456]

Many things CAN contribute to inflation. It's not one thing. Really.

This time around it was, in chronological order:

1. Around $9 TRILLION in pure stimulus is pumped into the economy since 2009
2. An extra $2 TRILLION is poured into the system to save short term credit markets in 2019
3. Interest rates are kept mashed down, causing bond yields to crash up to 60%
4. We ALL go all that time waiting for this historic stimulus to create MASSIVE inflation
5. COVID hits and the economy falls into complete structural disarray
6. The economy contracts, hitting & weakening supply chains across virtually all economic strata
7. COVID subsides and global economies re-open. The USA is flush with cash
8. Demand explodes globally (particularly the USA, with all its stimulus) coming out of the COVID lockdowns
9. Supply chains immediately collapse worldwide, causing production and distribution to freeze up
10. Inflation hits and quickly compounds on itself from demand with supply chains paralyzed top to bottom
11. The Fed waits far too long (maybe 10 to 12 months) to gradually mitigate the inflation
12. Russia's invasion and destruction of Ukraine provides another important inflationary irritant

And, let's not forget:

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

still waiting for why the gas prices didn't go up while Trump was in office and almost day of creepy's first day they went up by 20% after he announced he was shutting down Keystone. hmmmmm