• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Federal Reserve raises key interest rate 0.75% in ongoing inflation fight

Galactic Spin said:
Okay.
Click to expand...

“Food prices rose 0.8%, with the cost of food consumed at home increasing 0.7%. Food prices surged 11.4% over the last year, the largest 12-month increase since May 1979.”

www.reuters.com

Stubbornly high rents, food prices boost U.S. inflation in August

U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.
www.reuters.com www.reuters.com
 
Moon said:
“Food prices rose 0.8%, with the cost of food consumed at home increasing 0.7%. Food prices surged 11.4% over the last year, the largest 12-month increase since May 1979.”

www.reuters.com

Stubbornly high rents, food prices boost U.S. inflation in August

U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.
www.reuters.com www.reuters.com
Click to expand...

Yes, but unlike 1979, no one is sitting in a gas line. And there wasn’t a war going on in Eurasia’s breadbasket, either.

The Iranian oil embargo and the subsequent domination of OPEC, which was able to hold oil prices artificially high well into 1985.

Ronald Reagan reaped the benefits of two major events he actually had little to do with.

One, the collapse of oil prices in the spring of 1985. By then, gasoline consumption in the US has shrunk, and was not recovering as fast as expected (thanks to the CAFE standards). Nigeria, Iraq, Russia and Venezuela were all cheating on their quotas, and the Saudis got tired of cutting production to try and prop up the price.

That was the spark that really ignited the Reagan boom.

The other was the death of Yuri Andropov, which begat Mikeal Gorbachev. If not for that, geo political history would have been vastly different. It didn’t hurt, of course, that the Russians had been importing American wheat for two decades and the drop in oil prices left them bereft of hard currency).

There is no reason to expect the Ukraine War to go on for more than a year. The collapse and impotence of the Russians is all too apparant. Oil prices are going to stay stable.

We will have a mild recession, mainly because of the one that the EU is going to suffer under Russian oil and gas blackmail. Taht, in turn, will lead to rapid acceleration in research and investment in renewables and battery technology.
 
Market is tanking again today.

Great job Joe Biden.

Three pages of "newest posts" and all the stupid left wing posts on this boards are about someone's vagina.
 
Down 630 points.

I get it.

Nobody on the left cares.....can't call attention to our failure as a president.
 
HikerGuy83 said:
Market is tanking again today.

Great job Joe Biden.

Three pages of "newest posts" and all the stupid left wing posts on this boards are about someone's vagina.
Click to expand...
You mean Jerome, right?
 
HikerGuy83 said:
Down 630 points.

I get it.

Nobody on the left cares.....can't call attention to our failure as a president.
Click to expand...
Yes, the latest DP Biden Approval Poll tells you what this place has turned into...

Screenshot_20220923_125829.jpg
 
Taylor said:
Yes, the latest DP Biden Approval Poll tells you what this place has turned into...

View attachment 67414560
Click to expand...

It's amazing. I see the same kind of head up the ass mentality on far right wing boards too.

The market is below 30,000, but Biden is doing a great job.

When the house and senate go sailing away, is approval ratings are going to be trying to just to stay in the basement and not down further.
 
Didn't we have a recession the last time Biden held office?

I was sure that I had been told that inflation was transitory, and wouldn't be a big deal...
 
TomFitz said:
Yes, that’s a soft landing.

The inflation of the late 1970’s was still raging on well into the 1980’s.

Mortgage interest rates didn’t drop below 10% for almost fifteen years.
Click to expand...

I don't think you know what a soft landing actually is then, because we are not heading towards it.
 
bave said:
I don't think you know what a soft landing actually is then, because we are not heading towards it.
Click to expand...
Jerome Powell has said we are not headed towards a soft landing and that he doesn’t care. They are pressing on anyway, and that’s why stocks and bonds have tanked on the last two weeks.
 
VySky said:
Sorry chumps. America asked for Biden's reckless and cost prohibitive agenda and now its time to shut up and pay up.

Embrace the suck
Click to expand...
Ahem, inflation is worldwide. They idea that whatever you blame Biden for doing was worldwide is complete hogwash.
 
highroller said:
Jerome Powell has said we are not headed towards a soft landing and that he doesn’t care. They are pressing on anyway, and that’s why stocks and bonds have tanked on the last two weeks.
Click to expand...

That's part of it, the real reason is that the world is heading into a recession at best. We now have to deal with ~14 years of awful fiscal and monetary policy. Unwinding it is going to be bloody.
 
MTAtech said:
Ahem, inflation is worldwide. They idea that whatever you blame Biden for doing was worldwide is complete hogwash.
Click to expand...
You can't dump 6 trillion or so into the economy and NOT expect to get busted in the chops for it.
 
VySky said:
You can't dump 6 trillion or so into the economy and NOT expect to get busted in the chops for it.
Click to expand...
What $6 trillion? Show your work.
 
MTAtech said:
What $6 trillion? Show your work.
Click to expand...

I think he is referring the the COVID stimulus packages. Not sure on the exact math, but it was certainly at least $5T.
 
VySky said:
Sorry chumps. America asked for Biden's reckless and cost prohibitive agenda and now its time to shut up and pay up.

Embrace the suck
Click to expand...
Ignorant garbage. The Fed has been forced to raise rates in response to the effect of world events outside Biden's control. The war in Ukraine, supply chain problems, the hangover from Covid. But Biden's an easy target for the blinkered partisan who is too dumb to understand the bigger picture.
These interest rate hikes are a global phenomenon. Is Biden responsible for the rest of the world's economies?
www.imf.org

Central Banks Hike Interest Rates in Sync to Tame Inflation Pressures

During the pandemic, central banks in both advanced and emerging market economies took unprecedented measures to ease financial conditions and support the economic recovery, including interest-rate cuts and asset purchases.
www.imf.org
Try using your brain instead of posting inflammatory nonsense.
 
snakestretcher said:
Ignorant garbage. The Fed has been forced to raise rates in response to the effect of world events outside Biden's control. The war in Ukraine, supply chain problems, the hangover from Covid. But Biden's an easy target for the blinkered partisan who is too dumb to understand the bigger picture.
These interest rate hikes are a global phenomenon. Is Biden responsible for the rest of the world's economies?
Click to expand...

Two things.

First, the man in charge eats the results. Regardless of party or fault.

Second, Biden contributed to the problem. He rammed several additional major spending programs through the pipeline increasing deficits and pushing money into an already hot economy. Things like the third major COVID stimulus, continued suspension of student debt payments, etc. You are talking about trillions of dollars of federal largesse being stuffed into the economy in a short period of time, done so with helicopter money at that.
 
Democrats in the driver's seat...

 
Unfortunate necessity as we’ve spent like the thirty years with our government going “low rates make number go up!!!” And that’s good for re-election, so they all love it.
 
You must log in or register to reply here.
Back
Top Bottom