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 inflation that resulted from Jimmy Carter's policies.
Where did I claim inflation makes our lives much better?

The current administration has been clear that it lets the Fed do its job without getting involved. And the initial claim about transitory was made by Jerome Powell, Trump's appointed Fed chairman. The Biden administration simply allows the Fed to do its job. If Trump were still President he'd just stand up there and lie to you about how there is no inflation because the numbers are fake.

The inflation you blame on Carter began with Nixon and its causes had more to do with John Connally, the Nixon-installed Treasury Secretary with no formal economics training, who later declared personal bankruptcy. Nixon also put price controls in place which later triggered rampant inflation as companies were raising prices to make up for lost profits caused by Nixon's price controls. Nixon famously said, "We'll take inflation if necessary, but we can't take unemployment." Like Trump, he spent money like a drunken sailor and made money cheaper.

You can call Trump's inflation "Bidenflation" all you want if that is what you need to make you feel good inside, but the overwhelming evidence shows that is just self-serving nonsense. Virtually everything Republicans claim causes inflation began under Trump.
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Re: Even More Stag, Extra Flation

Post by ajax18 »

Where did I claim inflation makes our lives much better?
I know who you are.
And when the Confederates saw Jackson standing fearless like a stonewall, the army of Northern Virginia took courage and drove the federal army off their land.
Vēritās
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Re: Even More Stag, Extra Flation

Post by Vēritās »

ajax18 wrote:
Sun Jun 12, 2022 4:23 pm
Where did I claim inflation makes our lives much better?
I know who you are.
I highly doubt that. Do you live in Belgium?

Is this weird response your way of saying you cannot show where I've said this?
"I am not an American ... In my view premarital sex should be illegal ...(there are) mentally challenged people with special needs like myself- Ajax18
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Re: Even More Stag, Extra Flation

Post by cinepro »

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.

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Doctor CamNC4Me
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Re: Even More Stag, Extra Flation

Post by Doctor CamNC4Me »

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
Are you talking about the covid handouts? Because a few rounds of a few thousand dollars in people’s hand can’t support the sustained inflation we’ve seen. Or are you talking about cheap money to buy homes that Trump pumped into the economy? Because that, coupled with artificial supply restraints, have sent inflation through the roof.

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Re: Even More Stag, Extra Flation

Post by Binger »

Well, certainly veritas is holding a consistent line and hanging on to the same old "tale".

The issue is not whether or not Biden/Trump caused the inflation or stagnation or impending recession. The issue is what is being done now. Conversations about what is being done that are anchored in whatabout orange man bad are doing exactly what they are intended to do - distract from what is being done or what will be done. There is no superior logic, morality or facts in "whatabout orange man" bad compared to "Breitbart said".

Those hoping to avoid political fallout from an economic situation that was either inherited, global or inevitable probably have a valid hope or concern. However, that does not take into consideration the climate that led up to this situation that had us blaming dog fleas, ocean salinity, mostly peaceful protests with some murders and the Bush/Obama wars on a bad orange man.

We were not careful what we wished for. We were even less careful what we lied about and what we ignored was being lied about. And now we are here. And, as long as the current folks in charge continue to lie, distract and deceive, including clowns like McConnell and McCarthy, we will just enjoy what we wished for. Remember, it was the current administration that said this would not happen.
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Re: Even More Stag, Extra Flation

Post by honorentheos »

The issue is not whether or not Biden/Trump caused the inflation or stagnation or impending recession. The issue is what is being done now. Conversations about what is being done that are anchored in whatabout orange man bad are doing exactly what they are intended to do - distract from what is being done or what will be done. There is no superior logic, morality or facts in "whatabout orange man" bad compared to "Breitbart said".

Those hoping to avoid political fallout from an economic situation that was either inherited, global or inevitable probably have a valid hope or concern. However, that does not take into consideration the climate that led up to this situation that had us blaming dog fleas, ocean salinity, mostly peaceful protests with some murders and the Bush/Obama wars on a bad orange man.

We were not careful what we wished for. We were even less careful what we lied about and what we ignored was being lied about. And now we are here. And, as long as the current folks in charge continue to lie, distract and deceive, including clowns like McConnell and McCarthy, we will just enjoy what we wished for. Remember, it was the current administration that said this would not happen.

What? I was barking out the window at nothing, criticizing people for failing to make meaningful points while biting at the argument from a distance myself? Let me show you!

Image

Now you know what to do these midterms! RESPECT THE BARK!!!

ETA: viewtopic.php?p=2787720#p2787720

Note the time stamp. And Cultellus doesn't think I know what he's going to say before he says it...
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ajax18
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Re: Even More Stag, Extra Flation

Post by ajax18 »

I highly doubt that. Do you live in Belgium?
You sounded like someone I knew. I hope I'm wrong.
And when the Confederates saw Jackson standing fearless like a stonewall, the army of Northern Virginia took courage and drove the federal army off their land.
Vēritās
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Re: Even More Stag, Extra Flation

Post by Vēritās »

How can Joe Biden possibly blame the US inflation on the GOP when it was obvious things were not like this during GOP admins?
Because Joe Biden understands what is going on.

Inflation is based on three factors: supply, demand, and time.

Biden’s role in rising inflation has been demand. By getting 85% of businesses and 95% of schools that closed in 2020 reopened, we saw a record drop in unemployment as a record number of jobs were added or recovered and a record number of new businesses started up. That greatly increased the demand for goods. So yes, the “Biden Boom” helped bolster inflation, but that’s only part of the story.

The other side is supply. Beginning in 2017, it started getting harder and harder to get components thanks to the former guy’s trade war. Not only did it slow the supply chain and raise prices, but by the end of 2018, we saw almost 2,000 American manufacturing plants close. And he was just getting started.

The previous administration also dismantled the pandemic response team Obama/Biden left in place, and when faced with a pandemic, they refused to offer any national strategy to keep the country safe for commerce. In fact, the former President attacked leaders on the state and local level for taking common sense measures to slow the spread. As a result, we saw numerous and repeated shutdowns, which greatly hurt our supply lines. But there’s still more.

In April 2020, with gas prices at their lowest since Obama was in office, the former guy said low gas prices were bad for America and vowed to fix the “problem”. He pressured OPEC into a two-year deal to slash oil production to drive up prices. Over the following year, the country remained largely closed and fuel consumption stayed low, yet fuel prices rose 52%, putting them back at pre-pandemic levels. Once Biden helped get the country reopened beginning in Spring of 2021, consumption increased and over next twelve months, prices rose another 49%. Higher gas prices thanks to the former guy’s deal mean everything is more expensive. We rely on fuel to deliver almost everything we buy. Farmers especially use a great deal of fuel to produce crops as it powers the machinery that plows, sows, and harvests crops.

So who should we blame for inflation? The President who helped restart the economy and increased demand, or the President who killed a growing economy and sabotaged our supply of oil and goods?
Great points. I would add the a record number of farmers were filing for bankruptcy during Trump's trade war in early 2019, adding to the food shortage. And one of the greatest contributors to inflation had to do with the chip shortage that caused use car prices to skyrocket as new car production came to a halt.
In September 2020, as part of the economic conflict between China and the United States, the US Department of Commerce imposed restrictions on China's largest chip manufacturer, Semiconductor Manufacturing International Corporation (SMIC), which made it harder for them to sell to companies with American ties. These restrictions forced companies to use other manufacturing plants like Taiwan Semiconductor Manufacturing Company Limited (TSMC) and Samsung. However, these companies were already producing at maximum capacity.

In 2020, GlobalFoundries, a U.S.-based chipmaker and AMD's semiconductor manufacturing arm before its IPO, ceased operations at its only Chinese plant. The fab was supposed to produce 300-mm wafers, but the 65,000-square-meter factory in Beijing never began production.
"I am not an American ... In my view premarital sex should be illegal ...(there are) mentally challenged people with special needs like myself- Ajax18
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Doctor CamNC4Me
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Re: Even More Stag, Extra Flation

Post by Doctor CamNC4Me »

So, once again Xanax posts and dips. -_-
Hugh Nibley claimed he bumped into Adolf Hitler, Albert Einstein, Winston Churchill, Gertrude Stein, and the Grand Duke Vladimir Romanoff. Dishonesty is baked into Mormonism.
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