Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The Fed is not serious. The government wants to debase the dollar to fix the national debt, social security, and the pension crisis. They want high inflation, just not so high that people wake up to it. Oops.
inflation hit its worst in 81, just as Reagan took office... the inflation was from the Carter (and before) era
Irrelevant. Inflation broke record after record all during Reagan's first year. The Fed raised the prime rate to 21.5% in December of 1981. Can you even imagine a rate like that today?! Anyway, that quickly threw the economy into a deep two year recession and endangered the Reagan presidency. He got blamed and his ratings were in the tank. But things turned around just in time for him to ride a wave of recovery and good feelings into a second term by a landslide (that and the Dems ran a has been named Mondale) Might happen to old Joe the same way.
The headline number is out of date in that it does not reflect the sharp drop in gasoline prices over the past few weeks. The concerning number is the core at 5.9% which is too high and will almost certainly cause the Fed to give yet another dose of the wrong medicine ensuring a recession some time late this year or early next.
The good news, if any, is that the recent gas price drops probably offset the increased other costs for most consumers over the past month. Gas prices should continue to drop barring a hurricane or some other supply perturbation. Much of the commodity markets price drop has not reached the pumps yet. We could see gas below $4 in most of the country in a couple weeks and down into the mid $3 range in the cheaper places.
Well, that’s certainly the Leftist Talking Point of the day. GS dropped 40 cents and now everything is going to be Hunky Dory —- except, it’s not. That 40 cent drop in price doesn’t even cover the rise in price long before Ukraine. TeamBiden OWNS this inflation and they will own the Recession, that we are already in.
Best they can hope for now it we don’t fall into a Depression. They are totally incompetent.
Well, that’s certainly the Leftist Talking Point of the day. GS dropped 40 cents and now everything is going to be Hunky Dory —- except, it’s not. That 40 cent drop in price doesn’t even cover the rise in price long before Ukraine. TeamBiden OWNS this inflation and they will own the Recession, that we are already in.
Best they can hope for now it we don’t fall into a Depression. They are totally incompetent.
Someone pointed that out to me..."only $4.05 now" like it was a good thing ?
I said it was $2.98 in December...I'll rejoice when it's back there again.
Someone pointed that out to me..."only $4.05 now" like it was a good thing ?
I said it was $2.98 in December...I'll rejoice when it's back there again.
Irrelevant. Inflation broke record after record all during Reagan's first year. The Fed raised the prime rate to 21.5% in December of 1981. Can you even imagine a rate like that today?! Anyway, that quickly threw the economy into a deep two year recession and endangered the Reagan presidency. He got blamed and his ratings were in the tank. But things turned around just in time for him to ride a wave of recovery and good feelings into a second term by a landslide (that and the Dems ran a has been named Mondale) Might happen to old Joe the same way.
High inflation is irrelevant? How uncaring. Tell that to the 60% who are living paycheck to paycheck, or don't you care about them?
Please explain w/o deflecting, or offering a 1 sentence quip, as most here do when they are challenged.
Is he to blame for the massive inflation in other countries too?
of course not. But last fall (and pre-Ukraine) inflation in the US vs the world was correlated to the % of stimulus spending, of which we were unequaled. Meaning, our stimulus spending was much higher, as was our inflation at that time.
I work as a designer for an automotive OEM. We are starting to push dates back on several of our future programs. That isn't out of the ordinary, in itself, dates do get moved generally a few months or so. Rumor is we will be pushing them a year out...just waiting for then "pencil's down" email. I'm starting to get that nervous feeling. The last time I saw it like this, was in '08. Spent a year unemployed then.
Time to start looking to design boats, planes, & other high ticket consumer goods. Our gov't allowed our chip manufacturers to be replaced (mostly) by communist China by irresponsible offshoring, so now we can't make stuff that require chips.
Why doesn't Biden fix this instead of worrying about tampons in boys restrooms?
In Canada, Trudeau is blamed for high gas prices much as Biden is here even though Canada is a major oil producer with no shortage of crude for domestic or export needs.
It's just oppotunistic politics. Both here and there.
Here's a link. It has a pay wall but you can see the headline. Trudeau's fault! Guess they haven't seen your argument there.
Calgary and Edmonton have some of the best gas prices in Canada at just under $1.75 per litre, but head south to Montana, and you’ll pay the equivalent of $1.55 a litre in Great Falls.
The main difference is tax and our low dollar.
Hiking the carbon tax in the middle of an energy and affordability crisis was madness. Trudeau, though, is more concerned about being seen to do the right thing on climate than the impact his tax has on family budgets.
When gas spiked during the 2008 financial meltdown, our dollar was on par with American greenback; now, we’re lucky to buy it for 70 cents on the dollar. Gas price analyst and former Liberal MP Dan McTeague said the Canadian dollar no longer rises when the price of oil goes up because we’ve ceased to be a place oil and gas companies want to invest, and that is hurting us.
Neither Biden nor his economic advisors set Fed rate policy. Furthermore, the people who do are mostly Trump appointees. Blame Trump for not putting in smart people if you must. For my money, it would not have made a damn bit of difference if they raised rates sooner. The inflation is due to a supply crunch and higher interest rates are not going to fix that until you kill demand by causing a significant recession closing factories, curtailing services and leaving millions without jobs. You can readily observe that the sharp increases over the past few months have done nothing and they won't until the Fed wrecks the economy or supply constraints resolve. My preference would be to let the high prices temper demand while supply catches up.
well, you waited a little longer than I figured but unsurprisingly went for the "but Trump!"
There are 3 "Republicans" on the Fed BOG and 4 "Democrats". In 4 years, Trump appointed 4 of the Governors. In 18 months, Biden has appointed 3.
And the idea that you literally typed "supply crunch...not going to fix that until you kill demand by closing factories, curtailing services and leaving millions without jobs" is so astoundingly contrary to itself that hopefully the many who don't understand can finally see you're a charlatan on economics.
To summarize your position: supply of goods is too low, so the way to solve that is to employ fewer people and produce fewer goods and services.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
