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I think we probably had too much stimulus after Covid; but that was fault of both Biden and Trump. And you can’t blame them, it was very popular politically at the time and prevented a much worse recession. That can’t be undone now.
What we should try to be doing now is onshore manufacturing for things like semiconductors so our supply chains are less vulnerable to lockdowns in Asia. Thankfully Biden has made this a priority and some progress is being made.
Other than that, I don’t know if much else can be done. I lot of people on this forum seem to think the Republicans will save them - but they won’t.
Also, cut corporate income tax to 0% for companies that reshore their manufacturing stateside for as long as the bulk of their supply chain is located here. Signal to the entire world that we are open for business. China's falling apart and those factories have to go somewhere.
Second, institute blanket approval for all domestic energy production of any kind whatsoever. That includes all domestic oil drilling and production. Complete the Keystone Pipeline.
Third, cancel all "renewable energy" projects and redirect all funds to nuclear energy.
Fourth, start shredding regulations. We shouldn't be disallowing the importation and sale of baby formula e.g. that the British and Europeans have approved for sale.
Fifth, rip up the deal with Iran, get cozy with Saudi again, and get more oil into the market.
Finally, cut federal government spending by 20% across the board every fiscal year until the Federal Budget reaches 2016 levels.
Inflation = too much money chasing not enough goods. The long-term solution is to produce more goods.
Cut government spending is good. The rest don't have anything to do with inflation. Cancel all "renewable energy" projects and redirect all funds to nuclear energy? How is that supposed to affect inflation? Also, Trump already ripped up the deal with Iran; have you forgotten? That contributed to the worldwide low oil inventories. We should be opening up with Iran so others can buy their oil, especially Europe.
You missed the obvious option: raise interest rates. That is the traditional remedy for inflation.
Cut government spending is good. The rest don't have anything to do with inflation. Cancel all "renewable energy" projects and redirect all funds to nuclear energy? How is that supposed to affect inflation? Also, Trump already ripped up the deal with Iran; have you forgotten? That contributed to the worldwide low oil inventories. We should be opening up with Iran so others can buy their oil, especially Europe.
You missed the obvious option: raise interest rates. That is the traditional remedy for inflation.
Raising interest rates is a solution for demand-driven inflation. The inflation we see today is a product of supply disruptions. You can't shut down the production of goods for a year and expect the economy to just reopen as if nothing happened.
And suppressing demand is a short term bandaid at best. You need to produce more goods and have supply catch up to demand.
Everything else has to do with creating a secure and cheap supply of energy. And I shouldn't have to explain to you how high energy prices impact inflation.
This inflation was INTENTIONALLY created by the Federal Reserve. They tried and tried and tried to create inflation. And FINALLY their efforts paid off! But oops, their efforts worked better than expected. Genie won't go back in bottle.
This inflation was INTENTIONALLY created by the Federal Reserve. They tried and tried and tried to create inflation. And FINALLY their efforts paid off! But oops, their efforts worked better than expected. Genie won't go back in bottle.
What is the upside to intentionally creating inflation?
I wouldn't have shut down the economy and the supply chain to begin with in order to 'win' an election.
Apart from that - there is no fixing it, not without a lot of pain.
And the poster who suggested a 20% government spending cut..... I like your posts - but what are you smoking today? Whatever it is, get me some.
Because that idea will happen about the same time as pigs fly.
It didn't happen over night, but it did happen because of the current administration.
Sometimes you have to hit the brakes and make a u-turn, because you went the wrong way
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