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America's Inflation Problem


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From above: "It didn’t have to be this way. Thanks to the miraculously successful Operation Warp Speed, the U.S. economy was already recovering swiftly before Biden took office. All he had to do was step aside and convince as many people as possible to get vaccinated."

Has a partisan ring to it , no? And of course, completely overlooks Trump's misfeasance in the first place, and criminal behavior throughout. 

But other than those two things ... sure thing. 

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I had been worried about inflation until a couple weeks ago.    Fortunately the Republicans have solved the problem already,    Their anti vaccine pro CoViD policies have started us on a trajectory likely to disrupt leisure activity and reduce discretionary spending, including reduced demand for Chinese imports.

Last year we paid lots of healthy people not to work, so they bought toys and pet products.    This wave is different.   There are no more CoViD vacations.   People working from  home already upgraded their home offices.   Quarantine pay has been replaced by basic unemployment insurance.

Add to this the steady background of evictions.   The anti property owner policy was odd for Trump Republicans, but it’s ended.    Different states have different tenant protections, hurdles and time frames.   Over the next couple months people who refused to work or were spending rent money on cars and toys will be forced out.   Meanwhile remaining units not occupied by deadbeats saw a rent increases as landlords tried to compensate for loss of use of their property. This inflationary force will disappear as leases renew.

This CoViD wave has less maximum potential since many people got vaccinated.    Unfortunately they are disproportionately those already retired and those with a decent education.    Young and poorly educated workers are those most likely to be unable to work due to exposure, illness or death,     That, combined with lack of safety measures, will temporarily disrupt supply chains.   It shouldn’t last long.    Upon recovering they will need to take any available job as soon as health permits.    

Meanwhile 2022 health insurance premiums are sure to rocket.   This is a lingering pro inflation force.

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56 minutes ago, Blue Crab said:

From above: "It didn’t have to be this way. Thanks to the miraculously successful Operation Warp Speed, the U.S. economy was already recovering swiftly before Biden took office. All he had to do was step aside and convince as many people as possible to get vaccinated."

Has a partisan ring to it , no? And of course, completely overlooks Trump's misfeasance in the first place, and criminal behavior throughout. 

But other than those two things ... sure thing. 

Totally fits the Republican narrative, and the mindset they bought into long before Trump came along.

Deliberately... gleefully... throw sand in the gears, then blame Democrats.

"I'm not getting vaccinated and I will NEVER get vaccinated, and it is Joe Biden's fault for not convincing me!"

The next Republican candidate for President should be Bashar al-Assad.

- DSK

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5 minutes ago, Steam Flyer said:

The next Republican candidate for President should be Bashar al-Assad.

Several of the elk will be along shortly to agree and say that at least it wouldn't be Hillary.

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3 hours ago, quod umbra said:

With the US economy failing to meet it's GDP growth forecast by nearly 25% and inflation rate surging a mere 230%, President Joe Biden's approval rating is starting to tank. The Democrat remedy is spend, spend spend and spend some more.

Voters are rightly blaming Biden for inflation | Washington Examiner

That's because people think (budgets whether business or government) and the economy are just like personal finances. As soon as the infrastructure bill passes, the complaints will go silent.

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Here I thought Q.U. was capable of reasonable argument but it turns out he's just a bullshitter, a mere shadow of an intellectual.

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4 hours ago, quod umbra said:

With the US economy failing to meet it's GDP growth forecast by nearly 25% and inflation rate surging a mere 230%, President Joe Biden's approval rating is starting to tank. The Democrat remedy is spend, spend spend and spend some more.

Voters are rightly blaming Biden for inflation | Washington Examiner

OH look! JT has suddenly remembered what conservative means now that a Democrat is in charge!   Or maybe I should say, the propaganda machine he parrots has decided its time to roll it out.  Just like Moscow mitch rolled out the old debt ceiling bullshit.

JT, do you have even a single original thought that wasn't inserted by the media?

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1 hour ago, badlatitude said:

That's because people think (budgets whether business or government) and the economy are just like personal finances. As soon as the infrastructure bill passes, the complaints will go silent.

I think you are exactly right. However that does not address the current inflation we are experiencing.
The difference between personal finance and institutional finance is personal finances have a specific due date that coincides with death. You die you estate settles your debts prior to distribution of assets to heirs.

Business finances also are not equivalent to government debt in that a business has to demonstrate why taking on debt will enhance its bottom line and/or forecast of future worth. 

Government does not need to meet such a standard and as you rightly point out, when government is spending money on a specific special interest, then that segment of the electorate are satiated, regardless if that is detrimental to the greater good of the nation. Throwing money around to buy votes will always appease some if not a majority. Which is why we need a BBA or Line Item Veto.

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10 minutes ago, quod umbra said:

Which is why we need a BBA or Line Item Veto.

Such a great idea that even when the right wing economic geniuses of yor had complete control of government it went nowhere in the legislature. A reassuring sign that not all on the right are complete morons. 
 

Imagine the Line Item Veto in the hands of a Stable Genius. 

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230% INFLATION SURGE!!!

Gotta love the hype of the talking points machine. Much better to say 230% than that inflation is now arithmetically closer to the central bank’s inflation target than is was one year ago when the world’s finest politicians had a steady hand on the economic system.

 

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1 hour ago, Remodel said:

Here I thought Q.U. was capable of reasonable argument

WTF gave you that idea?

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4 minutes ago, Borracho said:

230% INFLATION SURGE!!!

Gotta love the hype of the talking points machine. Much better to say 230% than that inflation is now arithmetically closer to the central bank’s inflation target than is was one year ago when the world’s finest politicians had a steady hand on the economic system.

Clod taking Umbrage by posting a bunch of lies and other bullshit is only to be expected.

Our inflation rate just dropped and we just renewed a mortgage at 1.3%.

Jezzuss - the end of the world is nigh!

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2 hours ago, SloopJonB said:

Clod taking Umbrage by posting a bunch of lies and other bullshit is only to be expected.

Our inflation rate just dropped and we just renewed a mortgage at 1.3%.

Jezzuss - the end of the world is nigh!

Variable rate?

I just did a refi as well, went from 21 years outstanding on a 30 year fixed, at like 3.5% to a 15 year note at 2.25%. Cut 7 years off the back and saved 38k in doing so. Same monthly payment too boot.
Now I might actually outlive our mortgage!

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2 hours ago, quod umbra said:

Variable rate?

I just did a refi as well, went from 21 years outstanding on a 30 year fixed, at like 3.5% to a 15 year note at 2.25%. Cut 7 years off the back and saved 38k in doing so. Same monthly payment too boot.
Now I might actually outlive our mortgage!

Yeah - the world economy is going two hell isn't it?

Thanks Joe.

Do you ever compare your personal reality with the bullshit you post?

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The fact is: The rich will get richer, and the poor will get the picture..... Unless they're the Trump poor, who won't notice a thing, until they're living in Aunt Ida's garage still holding on to their guns and bibles, while the church, the neighbors, and former friends avoid them like they were lepers.

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1 hour ago, SloopJonB said:
3 hours ago, quod umbra said:

Variable rate?

I just did a refi as well, went from 21 years outstanding on a 30 year fixed, at like 3.5% to a 15 year note at 2.25%. Cut 7 years off the back and saved 38k in doing so. Same monthly payment too boot.
Now I might actually outlive our mortgage!

Yeah - the world economy is going two hell isn't it?

Thanks Joe.

Do you ever compare your personal reality with the bullshit you post?

I'm sure his parents were thrilled they could get off as co-signers.

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