Biden lessens inflation

[highroller]

But contribute to actual on the ground inflation - yes? You think the difference matters to ordinary people?

Yes, oil and food increases and decreases are temporary. Inflation is a GENERAL increase in the price of goods.

 

[Bullseye]

Yes, oil and food increases and decreases are temporary. Inflation is a GENERAL increase in the price of goods.

And what do you think will bring food and oil back to normal? Killing Keystone pipe line, stopping exploration os federal lands, tabling ANWR? Maybe pumping the economy full of cash?

 

[highroller]

And what do you think will bring food and oil back to normal?

Technological advances like all the other times before. Increases in income. As a percentage of our income food is very little already.

 

[Bullseye]

Technological advances like all the other times before. Increases in income. As a percentage of our income food is very little already.

Sure.

 

[highroller]

Sure.

You doubt of course while other do.

 

[rickc]

And what do you think will bring food and oil back to normal? Killing Keystone pipe line, stopping exploration os federal lands, tabling ANWR? Maybe pumping the economy full of cash?

Oil prices are international. Seems strange but the prices domestic oil producers charge is set by the world market. Little we do influences it. OPEC really sets the price. They control the international supply of oil.

Food Prices? Supply has to catch up with demand. Another spike in covid and that is delayed.

 

[gdgyva]

You all need classes on basic economics

What Is the Relationship Between Inflation and Interest Rates?

Inflation and interest rates are linked, but the relationship isn’t always straightforward.

www.investopedia.com

"In general, as interest rates are reduced, more people are able to borrow more money. The result is that consumers have more money to spend. This causes the economy to grow and inflation to increase


The opposite holds true for rising interest rates. As interest rates are increased, consumers tend to save because returns from savings are higher. With less disposable income being spent, the economy slows and inflation decreases."

we have had an expanding economy for how many years now?

and inflation in check at approx 2-3% per annum

so please tell me when we last had negative interest rates and inflation at over 5-6%

i will wait.....

 

[99percenter]

we have had an expanding economy for how many years now?

and inflation in check at approx 2-3% per annum

so please tell me when we last had negative interest rates and inflation at over 5-6%

i will wait.....

we never had negative interest genius. That is a line only your beloved orangeman wanted to cross and he was putting pressure on his **** boi powell to do it.

 

[Kushinator]

Check out wholesale lumber prices. That will give you an idea of how prices will go. As supply meets demand prices will return to a more normal range.

Our GDP growth has been stuck in the 2% to 3% range for a decade or more. GDP growth this year is over 6%.

Real growth is looking to exceed 6% for 2021. Nominal GDP growth is currently sitting at 12% (annualized)

 

[Bullseye]

Oil prices are international. Seems strange but the prices domestic oil producers charge is set by the world market. Little we do influences it. OPEC really sets the price. They control the international supply of oil.

Food Prices? Supply has to catch up with demand. Another spike in covid and that is delayed.

Tell that to the families trying to deal with price increases.

 

[highroller]

Tell that to the families trying to deal with price increases.

Wah wah wah… your solution won’t affect the prices of oil long term. We need to change the type of energy we consume, not temporarily increase supply.

 

[Phys251]

It's your economy too, unfortunately.

Okay!

 

[Bullseye]

Wah wah wah… your solution won’t affect the prices of oil long term. We need to change the type of energy we consume, not temporarily increase supply.

I haven't offered any "solutions".

 

[Common Sense 1]

Social Security cost-of-living adjustment could be 6.2% in 2022​

New consumer price index data points to a possible 6.2% cost-of-living adjustment for Social Security recipients for 2022, according to the latest estimate from The Senior Citizens League.
That’s up from a 6.1% estimate the nonpartisan senior advocacy group projected last month.

Social Security’s annual COLA is calculated each year based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.

“With one third of the data needed to calculate the COLA already in, it increasingly appears that the COLA for 2022 will be the highest paid since 1983 when it was 7.4%,” said Mary Johnson, Social Security policy analyst at The Senior Citizens League.

Social Security cost-of-living adjustment could be 6.2% in 2022

New consumer price index data has helped push the Social Security COLA estimate for next year to the highest it's been since 1983.

www.cnbc.com

 

[Ishm]

Oil prices are international. Seems strange but the prices domestic oil producers charge is set by the world market. Little we do influences it. OPEC really sets the price. They control the international supply of oil.

Food Prices? Supply has to catch up with demand. Another spike in covid and that is delayed.

Also the small factor of a record drought slashing food production in the biggest producing states, and even hydro power stations shutting down due to low water levels. Add in the $Billions that people are spending locally instead of offshore due to reduced travel, and you get inflationary effects that are not hard linked to govt policy.

 

[it's just me]

That does not make much sense. The inflation will subside.

At least Jima Carter won't have to be the worst president in US history anymore.

 

[highroller]

At least Jima Carter won't have to be the worst president in US history anymore.

I don’t think anybody will ever beat Donald Trump.

 

[99percenter]

At least Jima Carter won't have to be the worst president in US history anymore.

Not sure where you got that from. There are already two that are undeniably worst than carter in recent memory in w and trump and arguably two more are worse in reagan and hw.

 

[Felis Leo]

U.S. inflation shows signs of moderating in July

The core consumer price index moderated slightly in July, the Labor Department said Wednesday.

www.marketwatch.com

Goppers can now stop worrying about inflation.

I will stop worrying when prices for consumer goods finally plateaus or decreases.

 

[it's just me]

Not sure where you got that from. There are already two that are undeniably worst than carter in recent memory in w and trump and arguably two more are worse in reagan and hw.

From the history books.

 

[gino]

There are NO experts who disagree that the Democrats are causing inflation right now.

 

[DataPoint]

gino, give us some non-biased links. We are in this situation because of the dislocation of the economy last year because of Trump's failure of leadership.

All agree that this is so.

 

[rickc]

Guys

The Federal Reserve Bank board has already said this is a temporary spike in inflation from restarting a 22 trillion dollar economy.

The fed is the one charged with controlling inflation. If they thought inflation was a problem then they would tighten up the money supply. Heard anything about that.

 

[StillServing]

I think that sighs of relief that inflation isn't an issue are premature. Here's the data from the Bureau of Labor Statistics that tracks CPI.

The following is the percentage increase from January to December of each year for the "All Urban Consumers CPI"
2010 1.15%
2011 2.47%
2012 1.29%
2013 1.20%
2014 0.38%
2015 1.20%
2016 1.90%
2017 1.51%
2018 1.35%
2019 2.09%
2020 0.97%
2021 4.36%

Mind you, the 2021 CPI is just through July. So the annual inflation rate will be much higher.

 

[DataPoint]

The rise inflation, which is temporary, is the result of the dislocation of then economy because of Trump's mismanagement of the Covid crisis.