Inflation- Generational High

[bornontheblue]

 

https://www.wsj.com/articles/us-inflation-consumer-price-index-october-2021-11636491959?mod=hp_lead_pos1

 

It is becoming pervasive. The infrastructure plan they just passed won't help either. If they pass the big social policy legislation it will throw gasoline on the fire. 

 

[toonkee]

It's fair to say the government printing money is causing inflation. It's not fair to put that even mostly on Biden. My dude, so much money was printed under Trump. Maybe for good reason maybe not. But...

[grandjean87]

It's still transitory.

[bornontheblue]

Just now, toonkee said:

It's fair to say the government printing money is causing inflation. It's not fair to put that even mostly on Biden. My dude, so much money was printed under Trump. Maybe for good reason maybe not. But...

Ok, why then was inflation very modest in the Trump presidency, even after they passed stimulus legislation early on the pandemic. They were mostly worried about deflation, early in the pandemic. 

The last stimulus package that was passed early in Biden's  presidency was not needed, and I believe unanimously opposed by Republicans. That is what is driving inflation right now. The  Stimulus legislation passed in 2020 when Trump was still around was desperately needed when 1/3 of the workforce stopped working, and small businesses had to shut down all across the country. 

Add to that the infrastructure and and the social policy legislation they want and this could get out of control. Google Wage/Price Spiral of the 1970's 

 

[bornontheblue]

2 minutes ago, grandjean87 said:

It's still transitory.

[bornontheblue]

Turns out stimulating the demand side, and suppressing the supply side is going to cause all kinds of problems. 

Thanks, Brandon. 

[grandjean87]

3 minutes ago, bornontheblue said:

You obviously missed the Fed's recent clarification of what transitory means. 

[grandjean87]

1 minute ago, bornontheblue said:

Turns out stimulating the demand side, and suppressing the supply side is going to cause all kinds of problems. 

Thanks, Brandon. 

You are going to win the post hoc ergo propter hoc award for November.  Keep it going and I'll vote for you.

[RSF]

Just now, grandjean87 said:

You are going to win the post hoc ergo propter hoc award for November.  Keep it going and I'll vote for you.

Watch your language....

[HR_Poke]

3 minutes ago, grandjean87 said:

You obviously missed the Fed's recent clarification of what transitory means. 

Kind of reminded me of "That depends on what your definition of the word is, is...."

[bornontheblue]

3 minutes ago, grandjean87 said:

You obviously missed the Fed's recent clarification of what transitory means. 

The late 1960's called and they asked for their economic policy back, 

 

[grandjean87]

Damn, Brandon.  If he hadn't canceled the XL gas would be $1.99/g now.

[bornontheblue]

Just now, grandjean87 said:

Damn, Brandon.  If he hadn't canceled the XL gas would be $1.99/g now.

It is much broader than energy prices. In fact if you strip out energy prices which the Core index does,  because they are too volatile, we are at the highest rate of inflation in 30 years. 

The Biden administration wants to bury their head in the sand and pretend this isn't a problem. If it is allowed to take a foothold and become more pervasive it is the poor and middle class who will get hurt by inflation, and the corresponding rapidly rising interest rates. 

 

[modestobulldog]

This is just a regressive tax. Don't worry, the rich and upper income will be fine. 

If you recall, I advised that individual recipients of stimulus should only be those on unemployment.  Everyone else theoretically was unaffected financially, in fact, for many of us it was a natural windfall due to no commute, no dining out, no expenditures for work clothing, etc. Individuals on unemployment should have been made whole on their salary / wages.

[grandjean87]

6 minutes ago, bornontheblue said:

It is much broader than energy prices. In fact if you strip out energy prices which the Core index does,  because they are too volatile, we are at the highest rate of inflation in 30 years. 

The Biden administration wants to bury their head in the sand and pretend this isn't a problem. If it is allowed to take a foothold and become more pervasive it is the poor and middle class who will get hurt by inflation, and the corresponding rapidly rising interest rates. 

 

There are no turkeys left and only 2 weeks left before I start watching the NFL.  Also, I can't buy a new Subaru Outback.  Dealers are OUT.  Brandon!

[SalinasSpartan]

2 minutes ago, modestobulldog said:

Don't worry, the rich and upper income will be fine.

If you recall, I advised that individual recipients of stimulus should only be those on unemployment.  Everyone else theoretically was unaffected financially, in fact, for many of us it was a natural windfall due to no commute, no dining out, no expenditures for work clothing, etc. Individuals on unemployment should have been made whole on their salary / wages.

The initial $600 extra for unemployment did make people whole. It was cut in half because there was literally no Republican support to keep it at $600. 
 

So when AOC and Bernie were arguing to keep it were you supporting their efforts? Did you do mental gymnastics to come up with a reason why you opposed it? When the last relief package was being discussed were you supporting Bernie and AOC wanting to extend the extra $300 UI benefits? Or were you Yas Queening Manchin for opposing that? 
 

Or did you only have this realization after the benefits were cut, conveniently at a point where you could support this but not have to say “I agree with Bernie Sanders”? 

[AztecSU]

47 minutes ago, bornontheblue said:

 

https://www.wsj.com/articles/us-inflation-consumer-price-index-october-2021-11636491959?mod=hp_lead_pos1

 

It is becoming pervasive. The infrastructure plan they just passed won't help either. If they pass the big social policy legislation it will throw gasoline on the fire. 

 

I agree, but the fact is most of what is causing inflation happened during the last guys term. Biden though may be eligible for this blame himself soon enough. Particularly if his admin pushes back student loan repayment again I think it's fair to start piling on. 

[AztecSU]

32 minutes ago, bornontheblue said:

Turns out stimulating the demand side, and suppressing the supply side is going to cause all kinds of problems. 

Thanks, Brandon. 

Lets be real, giving it to China+Pandemic is what +++++ed up supply. 

[modestobulldog]

5 minutes ago, SalinasSpartan said:

The initial $600 extra for unemployment did make some people whole. It was cut in half because there was literally no Republican support to keep it at $600. 
 

So when AOC and Bernie were arguing to keep it were you supporting their efforts? Did you do mental gymnastics to come up with a reason why you opposed it? When the last relief package was being discussed were you supporting Bernie and AOC wanting to extend the extra $300 UI benefits? Or were you Yas Queening Manchin for opposing that? 
 

Or did you only have this realization after the benefits were cut, conveniently at a point where you could support this but not have to say “I agree with Bernie Sanders”? 

FIFY. I didn't engage in those threads too much, but I did take crap for my point of view.

[renoskier]

35 minutes ago, grandjean87 said:

You obviously missed the Fed's recent clarification of what transitory means. 

probably didn't miss it, just chooses to ignore it because it doesn't fit his narrative/agenda