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40 years ago, it was contained by raising interest rates.
2 years ago, it was excellerated by lowering them in an already overcharged economy.
To be fair, I doubt Biden has the political balls to raise rates enough to combat this, but I also hope he is not as stupid to keep pressuring to lower them.
He is not the one who decides. It's Jay Powell. And I assure you, he's raising rates.
I feel for folks who heat their homes with natural gas. I've been able to afford the elevated prices so far, but I feel for those who can't afford it and have had to cut back. Although I'm sure Democrats LOVE high prices for natural gas because they want to force everyone into electric heat because climate change.
Yep, but something has to power the electricity. We got a noticed our rates are increasing by around 25%.
Reread my post.. I said that Bidenflation was on the low end at 25%.. I have seen prices double. A roast a few months ago I bought for $3.00 a lb. Now it is $5.99 a lb. Double and some has gone higher than double. Look at the beef prices. You can't deny it.
IDK where Kroger gets beef but every 2 weeks they do a 2 for 1 special on pot roast or steak. And it's good beef. My freezer is full. Works out to around 3.50 a pound. Asparagus has been .97, Honey crisp apples .67, Progresso soup .99, Orowheat bread 2 for 1, chicken parts .97., and milk is .97 a half gallon.
I guess the grocers are not competitive in Florida.
This is a portrait of how the misinformation gets spread.
1. $2-$2.50 is not doubling, you made the big statement, and then quietly acknowledged it is only 25%, which is bad enough, and
2. Calling it Bidenflation. This started before his fiscal year started. It is the culmination of 40+ years before him, accellerated by Trump's pressure to lower rates when they should have been raised. Blame Obama, Bush, Clinton, Bush, Reagan and their predicessors, in addition to Trump, but you can't pin this on Biden. His FIRST fiscal year only started in October.
It's easy to see how the biased media tricks people.
when did the American Rescue Plan get passed? I swear, your economic illiteracy and "hate Trump" knows no bounds.
You are pointing to the spring of 2019, ignoring that there was low inflation and only steady growth (not the higher growth Trump wanted and predicted) until January 2020. That's 18 months.
The whole housing inflation makes me mad. Finally got a good job with good pay, and decent down payment and then housing has to jump 30% here. All that extra money I got in stimulus funds counts for nothing because it was eaten away by inflation.
I don't like saying this because inflation is hurting most people, I think, but this might be a blessing in disguise if nothing changes between now and November 1. The mid-term elections are exactly 300 days from today (on November 8), and I think and hope that moderates will overwhelmingly be voting for Republicans this year unless things significantly improve. (And I am not just talking about inflation, either.)
Last edited by katharsis; 01-12-2022 at 10:35 AM..
40 years ago, it was contained by raising interest rates.
2 years ago, it was excellerated by lowering them in an already overcharged economy.
To be fair, I doubt Biden has the political balls to raise rates enough to combat this, but I also hope he is not as stupid to keep pressuring to lower them.
actually 40 years ago (1982) interest rates were starting to fall, in fact 81/82 was the peak of interest rates
but I am sure you would like to see mortgage rates of 17% again...right??
Yes it is really bad. I picked up some candy at the checkoutline and when it rang up it was 8.00 for a tiny bag? I put it back.
I have had to start being really careful.
And I never used the stores "reward cards" until now.
And I am doing alternate day fasting....
These prices cannot stand.
I am on temporary Disability insurance to end very soon, my company has no place to put me in going back, there will be zero income like starting now.
Before I had surgery everything was planned going well, money in the bank and paying the mortgage down fast.
With the inflation it has zapped the 66% of wages I was getting in disability and killed us.
I don’t think Biden or Dems lose power though. Let’s face, a lot of this country is trying to scam around avoiding go back to work (oh it’s unsafe this nasty cold) . Why ditch a party that will keep handing out free goodies to the kids forever?
More than 50% no longer pay net federal income taxes, so are takers.
If they vote for Dems, the freebies continue, plus NEW freebies keep coming. If they vote for Pubs, the freebies they already have continue, but no NEW freebies. If you were a taker, who would you vote for?
Black women vote for Dems due to abortion...no changing their minds.
Fed Government workers vote for Dems because they make 1.5X as much as private sector workers, so they won't change.
LGBQ are afraid of the religious right locking them all up, so they'll always vote for Dems.
Adademia will always vote for Dems, & most K-12 educators too.
Most urban city dwellers vote for Dems no matter how bad their city gets...see Detroit...no changing that.
If inflation reaches 30%, these people will still vote for Dems.
I really cannot see how makers ever win another national election, no matter what inflation is.
And, if you believe inflation is only 7%, then I'm praying for you.
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