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Every time the news does an inflation segment they say Inflation highest it's been in 40 years. They said it back in January when gas was like $3.50 and they continue to say it now that gas is $5. Why no matter how bad inflation gets is it always since 1982? When will they start saying, "Inflation has never been this bad in the US." Saying "....in 40 years" constantly reinforces in people's minds "it's not so bad; we went through it 40 years ago and we survived. We'll survive this"
So many people are thinking this is like the Obama recession.
They really have no clue. This is inflation, inflation that may be worse then the 70-80's runaway inflation.
Shadowstats uses the 1980 algorithm to calculate inflation and it shows we are at 17% inflation.
Not sure about the inflation during the Carter days, but this is inflation is designed. If we have people running the system that want inflation, then who knows if it will get fixed.
If you want to recover from inflation, put different people in charge that aren't designing the economy to inflate.
And what does it actually mean to not recover from inflation? Do we stop being a country?
Every time the news does an inflation segment they say Inflation highest it's been in 40 years. They said it back in January when gas was like $3.50 and they continue to say it now that gas is $5. Why no matter how bad inflation gets is it always since 1982? When will they start saying, "Inflation has never been this bad in the US." Saying "....in 40 years" constantly reinforces in people's minds "it's not so bad; we went through it 40 years ago and we survived. We'll survive this"
We might not.
Name one person (other than a few blinders-on fanatics in this forum) that it "reinforces in his mind" that it means it isn't so bad now.
Every time the news does an inflation segment they say Inflation highest it's been in 40 years. They said it back in January when gas was like $3.50 and they continue to say it now that gas is $5. Why no matter how bad inflation gets is it always since 1982? When will they start saying, "Inflation has never been this bad in the US." Saying "....in 40 years" constantly reinforces in people's minds "it's not so bad; we went through it 40 years ago and we survived. We'll survive this"
Inflation was worse in the last 2 year of Carter and there first 2 or Reagan. Or thereabouts. In other words, it was worse about 40 years ago. Which is not to say that Biden has not managed to make it the worst in the memory of most people.
Inflation was worse in the last 2 year of Carter and there first 2 or Reagan. Or thereabouts. In other words, it was worse about 40 years ago. Which is not to say that Biden has not managed to make it the worst in the memory of most people.
Correct, delusional partisans despise facts. Inflation WAS IN FACT HIGHER in parts of the Carter and Reagan administrations than the Biden administration in concrete numerical terms. Yes, inflation is very bad now, and could get worse. However, there are different series of factors now that are compounding inflation that were not present in the late 1970's and early 1980's.
Inflation peaked at 14% in 1980. We haven't seen "official" inflation that high since. Therefore, it is simply mathematically accurate to say inflation today is the highest since the 70s, loosely interpreted as including the year 1980.
The reason for saying "highest since the 70s" when gas was only $3.50, is because inflation has continually been going up, so every time it adusts higher but is below 14%, it will be accurate to say it is the "highest since the 1970s".
It is just math.
As far as the claim, that is assuming you believe the "official" CPI inflation numbers. I don't, but that is an entirely different topic.
We'll be just as bad as 1980 when mortgage interest rates hit 18%.
Around 10% in 1978.
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