Inflation surges 7% in December, highest rate in 40 years

[Crakhobarbie]

LMAO! Thanks for proving my point. Yes, I posted those numbers early in the thread. Bidenflation is not a worldwide phenomenon.

Your right. "Biden" inflation is not. But much of the World is suffering from Inflation brought on by pandemic issues.

 

[Kushinator]

Not that it's any of my business, but do you spend a lot of time fantasizing about how to?

Uhh... I'm not interested.

 

[danielpalos]

We can create a market to help increase supply in our economy.

 

[highroller]

We can create a market to help increase supply in our economy.

The best time to do that was 30 years ago. The second best time is now.

We won’t though.

 

[Luther]

No it’s not. There are many reasons for inflation. Claiming that anyone that does not agree with your narrative is giving Biden a “free pass” is missing the facts that inflation comes from many sources.

Funny How the people voted out Carter for Reagan over it

 

[MTAtech]

Yes they do and we are now paying fir the TDS hatred thru Biden incompetence

What has Biden done to hurt you or your family?

 

[Conservative]

What has Biden done to hurt you or your family?

LOL, get out of your basement and find out. You spend way too much time here totally clueless of what is going on in the country. My question is what has Biden done to make things better for the country? One year and more than a 15% drop in approval ratings with failure after failure none of which changes your support so another question why?

 

[georgephillip]

We should be discovering solutions to our supply-side problems. Upgrading infrastructure could be done with the latest technologies and on a modular, mass production basis.

We should also reconsider supply chains that stretch for thousands of miles and provide "just-in-time" delivery service in order to maximize quarterly profit.

 

[Puigb]

Yep. Neither has approval ratings like popular presidents did. Literally the worst two in modern history, and within the margin of error of each other. Compared to popular presidents like Bush, at this point in his term, it is embarrassing.

Bush? That was only because of 9/11. When the "war-time president" phase died out, and people saw what that administration was really about, they were polling in the 20's. Last two GOP president's left office with approval ratings under at least 40%. Last two Democratic president's left office with approval ratings above 50%. Must be the so called "liberal media's" fault again.

 

[Puigb]

We didn’t have propaganda networks working overtime back then.

Also, Democrats rallied behind Bush during a time of massive tragedy. However, had Obama been president when 9/11 happened, you think Republicans would have rallied behind him like that? Never would have happened.

 

[Conservative]

Bush? That was only because of 9/11. When the "war-time president" phase died out, and people saw what that administration was really about, they were polling in the 20's. Last two GOP president's left office with approval ratings under at least 40%. Last two Democratic president's left office with approval ratings above 50%. Must be the so called "liberal media's" fault again.

Nice revisionist history tell me why you voted to hire Biden and what has he done that he said he would do, stop Covid? NO Handle the border? NO Economic leadership NO! Be a unified? NO

The results today has everything to do with Biden incompetence and you buying rhetoric again as usual

 

[MTAtech]

LOL, get out of your basement and find out. You spend way too much time here totally clueless of what is going on in the country. My question is what has Biden done to make things better for the country? One year and more than a 15% drop in approval ratings with failure after failure none of which changes your support so another question why?

I'll let Ezra Klein answer you:
"A year ago, forecasters expected unemployment to be nearly 6 percent in the fourth quarter of 2020. Instead, it fell to 3.9 percent in December, driven by the largest one-year drop in unemployment in American history. Wages are high, new businesses are forming at record rates, and poverty has fallen below its prepandemic levels. Since March 2020, Americans saved at least $2 trillion more than expected. And that’s not just a function of the rich getting richer: a JPMorgan Chase analysis found the median household’s checking account balance was 50 percent higher in July 2021 than in the months before the pandemic.

Some of these problems reflect the Biden administration’s successes. (Read my colleague Paul Krugman for more on this.) For all the talk of supply chain crises, many of the delays and shortages reflect unexpectedly strong demand, not a pandemic-induced breakdown in production. Supply chains are built to produce the goods that companies think will be consumed in the future. Expectations were off for 2021, in part because forecasters thought demand would slacken as people lost work and wages, in part because the fiscal response was massively larger than anyone anticipated and in part because when people couldn’t go out for meals and movies, they bought things instead. Overall spending is more or less on its prepandemic trend, but the composition of spending has changed: Americans purchased 18 percent more physical goods in September 2021 than in February 2020."

 

[Conservative]

I'll let Ezra Klein answer you:
"A year ago, forecasters expected unemployment to be nearly 6 percent in the fourth quarter of 2020. Instead, it fell to 3.9 percent in December, driven by the largest one-year drop in unemployment in American history. Wages are high, new businesses are forming at record rates, and poverty has fallen below its prepandemic levels. Since March 2020, Americans saved at least $2 trillion more than expected. And that’s not just a function of the rich getting richer: a JPMorgan Chase analysis found the median household’s checking account balance was 50 percent higher in July 2021 than in the months before the pandemic.

Some of these problems reflect the Biden administration’s successes. (Read my colleague Paul Krugman for more on this.) For all the talk of supply chain crises, many of the delays and shortages reflect unexpectedly strong demand, not a pandemic-induced breakdown in production. Supply chains are built to produce the goods that companies think will be consumed in the future. Expectations were off for 2021, in part because forecasters thought demand would slacken as people lost work and wages, in part because the fiscal response was massively larger than anyone anticipated and in part because when people couldn’t go out for meals and movies, they bought things instead. Overall spending is more or less on its prepandemic trend, but the composition of spending has changed: Americans purchased 18 percent more physical goods in September 2021 than in February 2020."

What a shock still no answer to my questions of you so you come back with another issue that you won't like the answer to. Yes, thankfully Red states are generating good economic numbers because Biden's economic policies are either so bad that the Red states had to do their own thing or policies were only good for those red states bypassing the blue states. I have posted this link over and over again only to be ignored, so if you are going to give Biden credit for the UE rate then you better explain why California, NY, Nevada, NJ lead the nation with the highest unemployment rate at 6.9, 6.8, 6.6, 6.6% Always is easy for you and the left to take credit for what someone else does without any policies or efforts from "your" President

LAUS Home : U.S. Bureau of Labor Statistics

www.bls.gov

 

[highroller]

What a shock still no answer to my questions of you so you come back with another issue that you won't like the answer to. Yes, thankfully Red states are generating good economic numbers because Biden's economic policies are either so bad that the Red states had to do their own thing or policies were only good for those red states bypassing the blue states. I have posted this link over and over again only to be ignored, so if you are going to give Biden credit for the UE rate then you better explain why California, NY, Nevada, NJ lead the nation with the highest unemployment rate at 6.9, 6.8, 6.6, 6.6% Always is easy for you and the left to take credit for what someone else does without any policies or efforts from "your" President

LAUS Home : U.S. Bureau of Labor Statistics

www.bls.gov

He literally responded to your post and you just blew him off. Why should people even debate with you?

 

[Kushinator]

Funny How the people voted out Carter for Reagan over it

Reagan's first year in office was mired by 8.55% inflation and unemployment @ 7.6%. His polling numbers dipped to 35% (from almost 70%).

Then 1982-1984 were years in which inflation and unemployment fell, output soared, and millions of jobs were created.

 

[Luther]

Reagan's first year in office was mired by 8.55% inflation and unemployment @ 7.6%. His polling numbers dipped to 35% (from almost 70%).

Then 1982-1984 were years in which inflation and unemployment fell, output soared, and millions of jobs were created.

So what you're saying is that he inherited it?

 

[highroller]

So what you're saying is that he inherited it?

So we’re at the doublethink portion of Republican thought…

 

[Luther]

So we’re at the doublethink portion of Republican thought…

Huh?

More like a simple question to me

 

[Conservative]

I'll let Ezra Klein answer you:
"A year ago, forecasters expected unemployment to be nearly 6 percent in the fourth quarter of 2020. Instead, it fell to 3.9 percent in December, driven by the largest one-year drop in unemployment in American history. Wages are high, new businesses are forming at record rates, and poverty has fallen below its prepandemic levels. Since March 2020, Americans saved at least $2 trillion more than expected. And that’s not just a function of the rich getting richer: a JPMorgan Chase analysis found the median household’s checking account balance was 50 percent higher in July 2021 than in the months before the pandemic.

Some of these problems reflect the Biden administration’s successes. (Read my colleague Paul Krugman for more on this.) For all the talk of supply chain crises, many of the delays and shortages reflect unexpectedly strong demand, not a pandemic-induced breakdown in production. Supply chains are built to produce the goods that companies think will be consumed in the future. Expectations were off for 2021, in part because forecasters thought demand would slacken as people lost work and wages, in part because the fiscal response was massively larger than anyone anticipated and in part because when people couldn’t go out for meals and movies, they bought things instead. Overall spending is more or less on its prepandemic trend, but the composition of spending has changed: Americans purchased 18 percent more physical goods in September 2021 than in February 2020."

I'll let Ezra Klein answer you:
"A year ago, forecasters expected unemployment to be nearly 6 percent in the fourth quarter of 2020. Instead, it fell to 3.9 percent in December, driven by the largest one-year drop in unemployment in American history. Wages are high, new businesses are forming at record rates, and poverty has fallen below its prepandemic levels. Since March 2020, Americans saved at least $2 trillion more than expected. And that’s not just a function of the rich getting richer: a JPMorgan Chase analysis found the median household’s checking account balance was 50 percent higher in July 2021 than in the months before the pandemic.

Some of these problems reflect the Biden administration’s successes. (Read my colleague Paul Krugman for more on this.) For all the talk of supply chain crises, many of the delays and shortages reflect unexpectedly strong demand, not a pandemic-induced breakdown in production. Supply chains are built to produce the goods that companies think will be consumed in the future. Expectations were off for 2021, in part because forecasters thought demand would slacken as people lost work and wages, in part because the fiscal response was massively larger than anyone anticipated and in part because when people couldn’t go out for meals and movies, they bought things instead. Overall spending is more or less on its prepandemic trend, but the composition of spending has changed: Americans purchased 18 percent more physical goods in September 2021 than in February 2020."

I am still waiting for an answer, why did all the Biden strong economic policies bypass the largest Bastion of liberalism Blue states and only benefited the Red ones with that 3.9% unemployment number? Don't believe the California, Nevada, NY, and NJ unemployment rates of 6.9, 6.8, 6.6, and 6.6 benefited Biden's performance numbers.

LAUS Home : U.S. Bureau of Labor Statistics

www.bls.gov

 

[highroller]

Huh?

More like a simple question to me

Reagan was not responsible for the inflation he faced in his first year any more than Biden is. These are results from past policy decisions made in our government.

 

[highroller]

I am still waiting for an answer, why did all the Biden strong economic policies bypass the largest Bastion of liberalism Blue states and only benefited the Red ones with that 3.9% unemployment number? Don't believe the California, Nevada, NY, and NJ unemployment rates of 6.9, 6.8, 6.6, and 6.6 benefited Biden's performance numbers.

LAUS Home : U.S. Bureau of Labor Statistics

www.bls.gov

IMO, people just aren't looking for work in the Red States.

 

[Luther]

Reagan was not responsible for the inflation he faced in his first year any more than Biden is. These are results from past policy decisions made in our government.

Reagan inherited Inflation From the Carter years.

I don't remember Inflation like this during the Trump years

Now, If this were the Trump admin right now, you would be calling it the Trump inflation no?

 

[Conservative]

Reagan inherited Inflation From the Carter years.

I don't remember Inflation like this during the Trump years

Now, If this were the Trump admin right now, you would be calling it the Trump inflation no?

There wasn't any that is why you don't remember inflation during the Trump years especially during the incredible economic years of 2017-Feb 2020

U.S. Inflation Rate 1960-2024

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

www.macrotrends.net

 

[Conservative]

I'll let Ezra Klein answer you:
"A year ago, forecasters expected unemployment to be nearly 6 percent in the fourth quarter of 2020. Instead, it fell to 3.9 percent in December, driven by the largest one-year drop in unemployment in American history. Wages are high, new businesses are forming at record rates, and poverty has fallen below its prepandemic levels. Since March 2020, Americans saved at least $2 trillion more than expected. And that’s not just a function of the rich getting richer: a JPMorgan Chase analysis found the median household’s checking account balance was 50 percent h

Some of these problems reflect the Biden administration’s successes. (Read my colleague Paul Krugman for more on this.) For all the talk of supply chain crises, many of the delays and shortages reflect unexpectedly strong demand, not a pandemic-induced breakdown in production. Supply chains are built to produce the goods that companies think will be consumed in the future. Expectations were off for 2021, in part because forecasters thought demand would slacken as people lost work and wages, in part because the fiscal response was massively larger than anyone anticipated and in part because when people couldn’t go out for meals and movies, they bought things instead. Overall spending is more or less on its prepandemic trend, but the composition of spending has changed: Americans purchased 18 percent more physical goods in September 2021 than in February 2020."

U.S. Inflation Rate 1960-2024

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

www.macrotrends.net

Any idea what policies help reduce inflation and why exactly was the inflation rate so low during the Trump term and now so high under Biden? Jimmy Carter all over again?

 

[Conservative]

I'll let Ezra Klein answer you:
"A year ago, forecasters expected unemployment to be nearly 6 percent in the fourth quarter of 2020. Instead, it fell to 3.9 percent in December, driven by the largest one-year drop in unemployment in American history. Wages are high, new businesses are forming at record rates, and poverty has fallen below its prepandemic levels. Since March 2020, Americans saved at least $2 trillion more than expected. And that’s not just a function of the rich getting richer: a JPMorgan Chase analysis found the median household’s checking account balance was 50 percent higher in July 2021 than in the months before the pandemic.

Some of these problems reflect the Biden administration’s successes. (Read my colleague Paul Krugman for more on this.) For all the talk of supply chain crises, many of the delays and shortages reflect unexpectedly strong demand, not a pandemic-induced breakdown in production. Supply chains are built to produce the goods that companies think will be consumed in the future. Expectations were off for 2021, in part because forecasters thought demand would slacken as people lost work and wages, in part because the fiscal response was massively larger than anyone anticipated and in part because when people couldn’t go out for meals and movies, they bought things instead. Overall spending is more or less on its prepandemic trend, but the composition of spending has changed: Americans purchased 18 percent more physical goods in September 2021 than in February 2020."

For some reason I cannot get you to answer the direct question as to why you support the liberal ideology and still present fiction regarding the Biden performance when the reality is this article is spot on

Everything Is Worse Under Biden

townhall.com