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This is global as well. Central Banks around the world printed money and propped up the global economy.
Otherwise it would have crashed.
If the Fed created $15 trillion then it's the Fed that has to take it back.
Now you could look at the money supple but the Fed...darling agency, redefined the money supply(M-1) and recalculated it going back to 2020 so they obfuscated the true data.
Inflation is not a big problem, so long as Americans can still run up their credit cards. But when those cards become maxed out, then what?
People will learn how to be frugal, how to budget, how to make do with less discretionary money, and maybe, maybe learn that debt is a 4 letter word...excluding mortgage/car loans
People will learn how to be frugal, how to budget, how to make do with less discretionary money, and maybe, maybe learn that debt is a 4 letter word...excluding mortgage/car loans
Some of us have been doing that for years. And now, when mealymouthed Democrats suddenly show up and tell us we have to economize even more, the only possible answer is "Sorry, Demmies, the cupboard is bare already."
How about if YOU quit instilling policies that cause these horror shows, instead of telling us that we need to find a way to live with them? We did everything we could, years ago, the last several times you guys messed things up. Now we have nothing left.
Some of us have been doing that for years. And now, when mealymouthed Democrats suddenly show up and tell us we have to economize even more, the only possible answer is "Sorry, Demmies, the cupboard is bare already."
How about if YOU quit instilling policies that cause these horror shows, instead of telling us that we need to find a way to live with them? We did everything we could, years ago, the last several times you guys messed things up. Now we have nothing left.
Here's the problem....the USG gave people money. For 2 years the money was flowing.
Then it stopped and the economy was still OK.
But now it's not. The government has no more money to hand out.
People do not realize that yet.
Several Dem governors want to send people $$$ to "tide them over".
Others want to halt the gas tax.."for a while".
Can't do that indefinitely until inflation gets tamed.
This time Uncle Sam will not come to the rescue with "stimulus checks".
they are not raking it in as the poster I replied to implied.
From my link:....you go up 20 and then down 66....you lost more than you gained.
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $66.4 billion in the first quarter, in contrast to an increase of $20.4 billion in the fourth quarter.
Inflation was "overcalculated" during the period of Great Inflation prior to changes in the way housing was treated in the CPI prior to the early 1980s. Headline inflation is actually pretty damn close to adjusted inflation in the late 70s.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,749 posts, read 81,656,775 times
Reputation: 58130
Quote:
Originally Posted by PullMyFinger
The Starbucks lines get me every time. Seriously sit in a drive through line in a gas burning car to pay $7 for a cup of coffee. What happened to America?
We see that here too, and also lines at the new Habit Grill (burgers0 where they are made to order, so not like McD where the food is ready under a heat lamp. I also see people zoom past me on the freeway when I'm doing 70 (60 speed limit) and many are pickups like mine, or big SUVs, even 18 wheelers. The inflation hots some people more than others. For me, for example, the last two raises I have gotten in August and March have kept me way ahead of the inflation so far, plus the savings from no commute in 2 years is still in the bank, after paying off credit cards. There are many others that have low paying jobs and long commutes because they can't afford to live where the work is, and they are struggling. I don't know anyone in that situation but one woman who quit her job in retail due to the commute cost. Fortunately her retired husband has a good pension and her job was for her "fun" money.
If you don't understand the problem with inflation, those "problems" will hit you overhead like a ton of bricks over the next year. Then you will understand.
It won’t take until next year.
This order from the White House to tell everyone there is NO Inflation is beyond idiotic.
Sure — perhaps the really Wealthy have no problem with it … everyone else?
It’s a Disaster — and it going to get Worse.
OP hasn't returned to their "Let them eat cake" thread. Maybe they realized that they were....well, in nicer terms perhaps they saw that it was not received well.
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