kingj3 said:

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We're building back better man!

Just look up the chart for how much value the USD has lost since the year 2000.

It's a big club, and we ain't in it.

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On the bright side we are up against the Euro! Time to travel!

Manhattan said:

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ITT: people who don't work in supply chain and understand that this is the result of failed leadership in 2020.

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This may the dumbest thing I've seen written this week.

So lets just take one example of the **** show Biden emcees: Tell me how gas prices are the result of failed leadership in 2020. Can't wait for your coming amount of spin, gonna get dizzy I'm sure.

aggiebrad94 said:

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crowman2010 said:

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rocky the dog said:

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So...inflation is very...very...good

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Inflation just makes things more out of reach for you to attain

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Now do stagflation and deflation

Quote:

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Under the Carter era definition, that is almost 20%. At this rate, a dollar I earn today is worthless in 5 years!

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Is this true? Seeing the dollar pegged to passage of time is a new angle. Does this argue against savings?

Ol_Ag_02 said:

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Manhattan said:

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ITT: people who don't work in supply chain and understand that this is the result of failed leadership in 2020.

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This may the dumbest thing I've seen written this week.

So lets just take one example of the **** show Biden emcees: Tell me how gas prices are the result of failed leadership in 2020. Can't wait for your coming amount of spin, gonna get dizzy I'm sure.

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It's so poorly worded I'm not even sure what he's saying....

By default, it seems like he's admitting that people who work in supply chain either understand the reality of what's causing this or he's stating they don't understand the reality of what's happening, but that everyone else who is not in supply chain thinks it's Trump's fault.

IOW, the people who are on the ground (supply chain people) living the reality of the policy, inputs, and outputs contributing to our ongoing economic malaise actually are clueless but everyone not in supply chain who don't understand how things work and move...blame Trump.

Seems like he's argued against himself.

In Manhattan Keith? Just asking to know if I need to hit mute.

Homie don't do trolls.

titan said:

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Quote:

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Under the Carter era definition, that is almost 20%. At this rate, a dollar I earn today is worthless in 5 years!

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Is this true? Seeing the dollar pegged to passage of time is a new angle. Does this argue against savings?

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Best hedge against inflation is real estate and commodities. Just make sure you can service your debt on the real estate.

Best strategy is to take out a fixed rate mortgage before the inflation hits, and watch your net worth go up as your debt becomes worthless and your land appreciates.

By the way, 20% inflation per year for 5 years = (1/1.2)^5 = $0.40

Unexpected? Maybe so only because anyone not living in a cave may have expected more than 9.1 percent. The way gov measures inflation is a joke. Many think of inflation only in terms of price changes from period to period. (How about those 20, 30 and 50 percent or more increase on many grocery items?) The big hit to many is the loss of buying power of savings...and the loss of value of assets.

Manhattan said:

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ITT: people who don't work in supply chain and understand that this is the result of failed leadership in 2020.

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[Citation Needed]

FriscoKid said:

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Manhattan said:

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ITT: people who don't work in supply chain and understand that this is the result of failed leadership in 2020.

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Republican governors wanted to cut off the money supply and force people back to work. You and your friends cried about it.

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Governors have nothing to do with federal spending or Fed monetary policy.

This is Trump's deficits and Trump's Fed followed by Biden's just as bad policies, but if you think Trump would have made everything peachy your not thinking clearly. Trump was afraid of losing the election in the face of Covid, so he tried to buy the election with stimulus which is the cause of this inflation. Even before that he was running up deficits and expanding the money supply to pump the economy. It wasn't sound economy policies it was inflationary policies that Trump was running from the get go.

I wonder where this inflation is coming from:

https://datalab.usaspending.gov/americas-finance-guide/deficit/trends/

https://fred.stlouisfed.org/series/WM2NS

Clearly Trump 2020 plus Biden 2021.

Ag87H2O said:

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Please. It's the result of failed leadership alright, but it started on April 21, 2021.

The Trump administration owns this, lock, stock, and barrel.

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FIFY

Data sucks huh:

https://fred.stlouisfed.org/series/WM2NS

https://datalab.usaspending.gov/americas-finance-guide/deficit/trends/

aginlakeway said:

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So how is this Trump's fault?

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Look at 2020 deficits (a record) and monetary expansion (a record). That's Trump right there.

SouthTex99 said:

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Fed is going to go 100 basis points at July meeting. Hell they might go 125.

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They need to. They didn't want the pain in 2020, well we gonna have it now one way or another so it might as well be through rate hikes and QT.

CDUB98 said:

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I've said it before, and I'll say it again, EVERY president owns this starting with GWB. The spending simply got worse with each successive president, and Biden's spending finally tipped the boat over and we're all drowning.

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QE is heroin.

We need true fiscal conservative leadership. Starting with this election, we need republicans to focus on cutting spending and reigning in the Fed where they can.

Then we need need a true fiscal conservative in 2024. Not a fiscal liberal like Trump.

aggrad02 said:

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aginlakeway said:

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So how is this Trump's fault?

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Look at 2020 deficits (a record) and monetary expansion (a record). That's Trump right there.

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It's fair to hit Trump for spending deficits as he has been no better than the dems.

But explain what the President has to do with monetary policy (I guess other than Fed appointments). How is Trump responsible for monetary expansion?

REAL AVERAGE HOURLY EARNINGS HIT A NEW ALL-TIME LOW pic.twitter.com/8mbfRrPXOB

— InteractivePolls (@IAPolls2022) July 13, 2022

Ags77 said:

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What did I win ? I picked Roger Maris

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No, we know who you really picked.

Here's that thread unrolled:

https://t.co/77wMi3L21q

The money shot:

Quote:

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ShadowStats hasn't updated for May yet, but if current trends hold and probably they will only worsen May's annualized inflation rate will be just north of 17 percent. As a reminder, the worst of Jimmy Carter's stagflation era topped out at 14.5 percent. /12

This year we'll soon see Americans' losing 20 percent of the value of their paycheck through inflation alone. That's a horrible shock to Main St., and unfortunately there's no reason for optimism. The Fed continues suppressing … 13/

… interest rates and was still printing money last month. The crisis will only abate once Congress drastically slashes spending and the Fed jacks up interest rates to unforeseen levels, the effects of which will be a huge recession. 14/

The Biden Admin doesn't want a recession on their watch, so will likely try papering over the crisis with more handouts, which as we all now only makes things worse, while pushing off the actual reckoning further into the future. 15/

The worst part about this? Inflation always punishes the poor hardest. 16/

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will25u said:

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REAL AVERAGE HOURLY EARNINGS HIT A NEW ALL-TIME LOW pic.twitter.com/8mbfRrPXOB

— InteractivePolls (@IAPolls2022) July 13, 2022

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I resemble this graph!!

will25u said:

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REAL AVERAGE HOURLY EARNINGS HIT A NEW ALL-TIME LOW pic.twitter.com/8mbfRrPXOB

— InteractivePolls (@IAPolls2022) July 13, 2022

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Yikes! This is what I was looking for the other day. Thanks for posting!

The seeds of this were sown a long time ago and predate both Trump and pedo Pete.

Clown Baby said:

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aggrad02 said:

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We need true fiscal conservative leadership. Starting with this election, we need republicans to focus on cutting spending and reigning in the Fed where they can.

Then we need need a true fiscal conservative in 2024. Not a fiscal liberal like Trump.

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Outside of Rand Paul, this person literally doesn't not exist on the federal level. The two party system, as it's currently constructed, has no incentive whatsoever to fix spending. Republican or Democrat. More people need to start waking up this this, and quick.

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I'll take Rand 1000%. I fought my face off for Ron in 2008, and supported Rand in 2016. I'll do it again.

Gigemags382 said:

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But this is out of date by a few days so it's completely meaningless. And anyways it's transitory. At this point what different does it make? Depends on what the definition of is is.

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Plus I have learned recently that inflation is actually good for the economy and the American people. So it is more gooder for everybody.

nortex97 said:

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15% using 1994 methodology.

**** Joe Biden and anyone who voted for any democrat in 2020.

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Bringing the real data.

Anyone know what it would be using whatever calculation was used in 1981? Without normalization it's meaningless to compare one year to another.

edit: Nevermind, someone else posted it.

Quote:

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Under the Carter era definition, that is almost 20%. At this rate, a dollar I earn today is worthless in 5 years!

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3 Toed Pete said:

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aggrad02 said:

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aginlakeway said:

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So how is this Trump's fault?

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Look at 2020 deficits (a record) and monetary expansion (a record). That's Trump right there.

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It's fair to hit Trump for spending deficits as he has been no better than the dems.

But explain what the President has to do with monetary policy (I guess other than Fed appointments). How is Trump responsible for monetary expansion?

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Not 100% responsible, but those are his appointments just like the Supreme Court justices are his appointments.

Also you put the Fed in a bad position when deficits are run up. Deficits lead to increased Treasuries, which should in theory raise interest rates (increased supply of bonds leads to an increase in interest rates) , but if the Fed wants to keep interest rates low due to a weak economy, then to keep them low they have to buy up the excess supply by injecting money into the economy. Running deficits during Covid kind of forced the Fed's hand (Not that they needed much forcing).

Powell needs to go and Yellen too.

aggrad02 said:

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Clown Baby said:

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aggrad02 said:

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We need true fiscal conservative leadership. Starting with this election, we need republicans to focus on cutting spending and reigning in the Fed where they can.

Then we need need a true fiscal conservative in 2024. Not a fiscal liberal like Trump.

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Outside of Rand Paul, this person literally doesn't not exist on the federal level. The two party system, as it's currently constructed, has no incentive whatsoever to fix spending. Republican or Democrat. More people need to start waking up this this, and quick.

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I'll take Rand 1000%. I fought my face off for Ron in 2008, and supported Rand in 2016. I'll do it again.

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Same here. We desperately need another Ron Paul-like revolution.

What's so frustrating is, everyone who laughs at the Pauls or others like them, will never actually go toe to toe with you on their predictions. It seems just about every prediction Rand has made in the past couple of years has come true. Any that's why nobody can have a substantive conversation with him. He's too honest (for a politician at least), and he turns out to be right about 90% of the time.

aggrad02 said:

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FriscoKid said:

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Manhattan said:

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ITT: people who don't work in supply chain and understand that this is the result of failed leadership in 2020.

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Republican governors wanted to cut off the money supply and force people back to work. You and your friends cried about it.

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Governors have nothing to do with federal spending or Fed monetary policy.

This is Trump's deficits and Trump's Fed followed by Biden's just as bad policies, but if you think Trump would have made everything peachy your not thinking clearly. Trump was afraid of losing the election in the face of Covid, so he tried to buy the election with stimulus which is the cause of this inflation. Even before that he was running up deficits and expanding the money supply to pump the economy. It wasn't sound economy policies it was inflationary policies that Trump was running from the get go.

I wonder where this inflation is coming from:

https://datalab.usaspending.gov/americas-finance-guide/deficit/trends/

https://fred.stlouisfed.org/series/WM2NS

Clearly Trump 2020 plus Biden 2021.

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Drop back another 8 years while you are at it...

Quote:

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Barack Obama
President Obama added about $8.6 trillion, about a 74% increase, to the national debt at the end of President Bush's last budget in 2009.

• FY 2017: $671 billion
• FY 2016: $1.42 trillion
• FY 2015: $326 billion
• FY 2014: $1.09 trillion
• FY 2013: $672 billion
• FY 2012: $1.28 trillion
• FY 2011: $1.23 trillion
• FY 2010: $1.65 trillion
• FY 2009: $253 billion (Congress passed the Economic Stimulus Act, which spent $253 billion)11

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https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

I know Trump is a JFK Democrat at his core. JFK Democrats love to spend money. All true.

But to ignore Obama in this calculation when the same folks in charge then are running the country now strikes me as a failure to tell the whole story. Even with a second Trump term as part of the equation, his spending still falls well short of what Obama/Biden have been doing.

Reagan added more to the debt than either Obama or Trump. But at least we got something in return for that: the end of the Cold War and the need for the massive military complex associated with it. Not his fault his successors squandered the opportunity he gave them.