Biden's plan to make inflation worse

gfm7175 said:
'The Greater Depression' sounds applicable to me.
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The Great Depression was triggered by deflation, not inflation. They were desperately trying to cause inflation back then, and would have been overjoyed if they could have gotten our inflation numbers.
 
Are they really this incompetent or is this rather part of a program to finish killing America?

Enquiring minds would like to know.
 
Walt said:
The Great Depression was triggered by deflation, not inflation. They were desperately trying to cause inflation back then, and would have been overjoyed if they could have gotten our inflation numbers.
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Still operating on full moron mode I see...
 
Hawkeye10 said:
Are they really this incompetent or is this rather part of a program to finish killing America?

Enquiring minds would like to know.
Click to expand...
Part of a program to continue beating the dead horse that was once the USA.

No one beats a dead horse better than a Demonkkkrat...
 
Stringfellow Hawk said:
President Joe Biden has had the inflation story entirely wrong from the beginning. So it’s no surprise that his latest plan to combat gas prices that hit six dollars per gallon in some markets, unprecedented supply chain disruptions, and an overall inflation rate near eight percent won’t work.

This Biden inflation odyssey (prices were rising less than two percent when Trump left office) has now lasted fifteen months. First we were told there was no inflation, then it was transitory, then it would only hurt the rich.

On Tuesday in the Wall Street Journal Biden finally admitted that "Americans are feeling anxious" about rising prices – the understatement of the year – and then blames the "turmoil," on global factors all beyond his control. He points the finger at Putin’s invasion of Ukraine, the Federal Reserve Board, and greedy meat producers, drug companies, and energy CEOs.

He even claimed that the economy was slowing down when he entered office when in fact the new vaccine was just hitting the market and a grand reopening of the economy was just beginning.

The president noted that Americans have better pay, but fails to mention that real wages have declined more than four percent on his watch. Savings have plummeted 79 percent and consumer debt is exploding as people turn to credit cards to make it from paycheck to paycheck.

People are demonstrably poorly now compared to January 2021 as their paychecks can’t keep pace with rising prices. For essentials like food, energy, transportation and housing the real inflation rate is well over 20 percent in the CPI numbers.

What is most demoralizing is the Biden inflation prescription laid out in the WSJ.

Biden’s call for price controls is equally misguided because every time we have tried this – most recently under Jimmy Carter – prices stayed high, but shortages exacerbated the price spikes. Biden writes that "I know that feeling" of higher energy prices, but doesn’t he remember that price controls gave the nation gas lines and rationing?

He also calls for higher taxes on the rich, on energy companies, and other businesses. How does this lower prices? If you tax the production of business goods and services you will get less of them – which means higher prices.

Finally, Biden wants more spending on green energy, more on infrastructure spending (we just passed a $1.1 trillion bill for public works), and on one million housing units. Now the government is going to be the nation’s largest landlord?

In other words, Biden is merely making yet another pitch for his multi-trillion dollar Build Back Better plan. It’s called doubling down on his failed progressive policies that lit the forest fire of inflation in the first place.


The last line in his WSJ piece is an almost insulting claim that he wants an "open and honest debate" with Republicans and independents to solve the economic crisis. Where? When?

There is no pivot to the sensible middle. There isn’t an apology or any acknowledgement that his policies are risking a crash of the economy. November can’t get here soon enough.

https://www.foxbusiness.com/politics/biden-inflation-prices-wages-government-spending


Summary: Biden is a steaming pile of shit and unfit for the office the left wing pieces of shit put him in.
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Gas is up to $4.57 in my area...and my most common thought is, "Thank the gods that we have Joe Biden as president rather than that disgusting, classless, con-man Trump."
 
gfm7175 said:
Part of a program to continue beating the dead horse that was once the USA.

No one beats a dead horse better than a Demonkkkrat...
Click to expand...

That is what the Failed Elite Class is doing, but do they know what they are doing?

If they do then why are they hurting us on purpose like this?

I dont know the answers yet.
 
Stringfellow Hawk said:
President Joe Biden has had the inflation story entirely wrong from the beginning. So it’s no surprise that his latest plan to combat gas prices that hit six dollars per gallon in some markets, unprecedented supply chain disruptions, and an overall inflation rate near eight percent won’t work.

This Biden inflation odyssey (prices were rising less than two percent when Trump left office) has now lasted fifteen months. First we were told there was no inflation, then it was transitory, then it would only hurt the rich.

On Tuesday in the Wall Street Journal Biden finally admitted that "Americans are feeling anxious" about rising prices – the understatement of the year – and then blames the "turmoil," on global factors all beyond his control. He points the finger at Putin’s invasion of Ukraine, the Federal Reserve Board, and greedy meat producers, drug companies, and energy CEOs.

He even claimed that the economy was slowing down when he entered office when in fact the new vaccine was just hitting the market and a grand reopening of the economy was just beginning.

The president noted that Americans have better pay, but fails to mention that real wages have declined more than four percent on his watch. Savings have plummeted 79 percent and consumer debt is exploding as people turn to credit cards to make it from paycheck to paycheck.

People are demonstrably poorly now compared to January 2021 as their paychecks can’t keep pace with rising prices. For essentials like food, energy, transportation and housing the real inflation rate is well over 20 percent in the CPI numbers.

What is most demoralizing is the Biden inflation prescription laid out in the WSJ.

Biden’s call for price controls is equally misguided because every time we have tried this – most recently under Jimmy Carter – prices stayed high, but shortages exacerbated the price spikes. Biden writes that "I know that feeling" of higher energy prices, but doesn’t he remember that price controls gave the nation gas lines and rationing?

He also calls for higher taxes on the rich, on energy companies, and other businesses. How does this lower prices? If you tax the production of business goods and services you will get less of them – which means higher prices.

Finally, Biden wants more spending on green energy, more on infrastructure spending (we just passed a $1.1 trillion bill for public works), and on one million housing units. Now the government is going to be the nation’s largest landlord?

In other words, Biden is merely making yet another pitch for his multi-trillion dollar Build Back Better plan. It’s called doubling down on his failed progressive policies that lit the forest fire of inflation in the first place.


The last line in his WSJ piece is an almost insulting claim that he wants an "open and honest debate" with Republicans and independents to solve the economic crisis. Where? When?

There is no pivot to the sensible middle. There isn’t an apology or any acknowledgement that his policies are risking a crash of the economy. November can’t get here soon enough.

https://www.foxbusiness.com/politics/biden-inflation-prices-wages-government-spending


Summary: Biden is a steaming pile of shit and unfit for the office the left wing pieces of shit put him in.
Click to expand...

Inflation is just too much money chasing too few goods and services. Biden's plan wouldn't worsen either side of that equation. Money supply is in the hands of the central bank, and wouldn't be impacted. As for the number of goods and services, to the extent build back better improves productivity, that means more goods and services and it drives down inflation.
 
Stringfellow Hawk said:
thank you for showing everyone what a fucking dumbass you are
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Moi???

C'mon. I am not a dumbass.

Are you not also thankful that we have Joe Biden as president rather than that disgusting, ignorant, classless, con-man Trump?

If you are not, perhaps it is you who is the dumbass!
 
Mina said:
Inflation is just too much money chasing too few goods and services. Biden's plan wouldn't worsen either side of that equation. Money supply is in the hands of the central bank, and wouldn't be impacted. As for the number of goods and services, to the extent build back better improves productivity, that means more goods and services and it drives down inflation.
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Which is zero.
 
Mina said:
What makes you think that? Improving infrastructure has long been considered a means of boosting productivity. Why would it not work this time?
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We get lied to constantly about what spending bills are for, and then how they are used. The so call infrastructure bill had almost nothing to do with infrastructure, or helpoing America, this had other purposes. Build Back Better is a straight up WOKE advancement bill and a slush fund for power to reward their friends.

Just look at our power grid for example.
 
Walt said:
The Great Depression was triggered by deflation, not inflation. They were desperately trying to cause inflation back then, and would have been overjoyed if they could have gotten our inflation numbers.
Click to expand...

No. It was triggered by inflation.
 
Walt said:
The Great Depression was triggered by deflation, not inflation. They were desperately trying to cause inflation back then, and would have been overjoyed if they could have gotten our inflation numbers.
Click to expand...

No. It was triggered by inflation.
 
Mina said:
Inflation is just too much money chasing too few goods and services. Biden's plan wouldn't worsen either side of that equation. Money supply is in the hands of the central bank, and wouldn't be impacted. As for the number of goods and services, to the extent build back better improves productivity, that means more goods and services and it drives down inflation.
Click to expand...

Depression is not productivity.
The Central Bank is controlled by the federal government.
Inflation is not reducing.
 
Stringfellow Hawk said:
Trump has been out of office over 1 year and you still can't defend Biden without mentioning Trump....LOL, democrats are pathetic and are only happy when the whole nation is in misery
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Apparently, you suffer from a severe case of selective memory and stupidity at failing to realize tRump's economic atrocities did not suddenly end upon giving him and his team of dirt bags the boot, but the effects of tRump's economic atrocities ended up on President Biden's lap to deal with:

Biden is inheriting a wrecked economy, but Democrats have a record of avoiding recession and reducing unemployment

On day one, President Joe Biden will have to manage a devastated economy – much as he and former President Barack Obama did 12 years ago.

What can the country expect?

Forecasting how the economy will perform under a new president is generally a fool’s errand. How much or how little credit the person in the White House deserves for the health of the economy is a matter of debate, and no economist can confidently predict how the president’s policies will play out – if they even go into effect – or what challenges might emerge.

Regardless, voters tend to believe it makes a difference. And going into the election, 79% of registered voters – and 88% of Donald Trump supporters – said the economy was their top concern. Given that, historical data suggests that those who are concerned with the economy have reason to be fairly satisfied with the election results: The economy generally fares better under Democratic presidents."

https://theconversation.com/biden-i...ng-recession-and-reducing-unemployment-153106
 
Into the Night said:
No. It was triggered by inflation.
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Every history and economics book agrees that the Great Depression was triggered by deflation... But then again, you claim to know better that insulation is impossible, so either you are the greatest genius the world has ever known, or an absolute fool.
 
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