Even More Stag, Extra Flation

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Vēritās
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Re: Even More Stag, Extra Flation

Post by Vēritās »

Hawkeye wrote:
Sun Jun 12, 2022 3:42 pm
Republicans seeking to pin Trump's inflation vortex (which began under his administration) onto Biden are the ones arguing COVID shutdowns led to inflation, but what they're unwilling to do is be honest about it.
Then why aren't you a Republican since you claim that inflation has made our lives so much better?

Just a few months ago, Janet Yellen was insisting that inflation was only transitory. Only recently have we started to realize that Bidenflation will likely be even worse than the inflaiton that resulted from Jimmy Carter's policies.
I don't know anyone who argued inflation makes lives better, but it certainly doesn't affect everyone equally. There are large swaths of America's population that are actually benefiting greatly from increased inflation since most Americans carry debt.

Yellen was reiterating what Jerome Powell, Trump's puppet, had said about inflation being transitory. How long does inflation need to be going before it isn't transitory? I don't know, but there is no indication that it is going to last forever or reach the 16% it did after the Nixon's recession and price controls. This appears to be wishful thinking from Republicans who seem to revel in the idea that millions of Americans should suffer to further their political aspirations.

by the way, is stagflation just another failed prediction you're clinging onto? Do you even know what stagflation means?
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Re: Even More Stag, Extra Flation

Post by Binger »

Inflation is particularly beneficial to people who can afford it.
Vēritās
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Re: Even More Stag, Extra Flation

Post by Vēritās »

Binger wrote:
Sun Jun 19, 2022 3:25 pm
Inflation is particularly beneficial to people who can afford it.
Inflation makes it easier on debtors, who repay their loans with money that is less valuable than the money they borrowed. About 80% of Americans are in debt with an average of $38,000. And this doesn't even include mortgage debt, which averages out to be $189,000 per household.
Vēritās
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Re: Even More Stag, Extra Flation

Post by Vēritās »

cinepro wrote:
Mon Jun 13, 2022 1:04 am
Vēritās wrote: m1.jpg
Thanks for posting that chart. I post it whenever the subject comes up on social media and you have people from both sides throwing out theories about "corporate greed" or blaming Biden etc. As the chart shows, it's pretty clear what happened with the money supply during a period of lower productivity and output. Inflation was a given.

I'm not a Trump fan (or a Republican), but I'm inclined to believe that we would have been okay with the economic damage caused by Trump's first two years had the last year been on course.

As for the "money gusher" the increase in M1 money supply really wasn't evident until Covid. And boy howdy, was it a gusher. I just don't know why this chart isn't getting more publicity. A quadrupling of the money supply over a short period of time without a commensurate increase in the availability of goods and services is going to result in massive inflation. Period.

Image
Notice that hawkeye/Ajax cannot address the overwhelming truth that the money supply skyrocketed well before Biden took office. No wonder he abandoned his own thread. This is what he does.
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