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Glad you acknowledge the administration's latest excuse is in fact a lie, but do you really think the increase has nothing to do with monetary policy and government spending?Correct, the supply shocks from COVID are also major contributors. That's why we are seeing inflation in a lot of other countries as well.
Its not a lie. A problem can have more than one cause and all three (third one being the next line down) have been mentioned by the Biden administration.Glad you acknowledge the administration's latest excuse is in fact a lie, but do you really think the increase has nothing to do with monetary policy and government spending?
I didn't say or imply those reasons were the only reasons. But don't you think it's odd that inflation was relatively stable during the first year of the pandemic -- when lockdowns and supply chain issues were more severe -- and only really started to take off after the blowout spending "relief" bills of Dec 2020 and March 2021?Its not a lie. A problem can have more than one cause.
A third cause is that sheer amount of money thrown at the economy by the fed since 2008.
... Thats kinda what happens when you pump money into a country for ten years and then suddenly demand falls while at the same time ports close down.I didn't say or imply those reasons were the only reasons. But don't you think it's odd that inflation was relatively stable during the first year of the pandemic -- when lockdowns and supply chain issues were more severe -- and only really started to take off after the blowout spending "relief" bills of Dec 2020 and March 2021?
If this is all biden's fault, why are other countries also fighting inflation?Glad you acknowledge the administration's latest excuse is in fact a lie, but do you really think the increase has nothing to do with monetary policy and government spending?
No, not just Biden's. The Dec 2020 "relief" bill was on Trump's watch. There is also the Fed's easy money policy. For some yet to be explained reason two years ago when early signs of inflation were showing they decided to ignore and then change their own long-established guidelines on when to trigger anti-inflation measures and charged on ahead with their easy money policies.If this is all biden's fault, why are other countries also fighting inflation?
Because the Deep State has now globalized. Biden, far from being the senile idiot he's fooled neo-conservatives into believing, is actually a stable genius masterminding global inflation and supply shortages in order to lose the House and Senate in 2022. It's brilliant!If this is all biden's fault, why are other countries also fighting inflation?
Why is inflation worse here?Because the Deep State has now globalized. Biden, far from being the senile idiot he's fooled neo-conservatives into believing, is actually a stable genius masterminding global inflation and supply shortages in order to lose the House and Senate in 2022. It's brilliant!
Because they are doing the same things the Biden pukes are doing and because the Globalist's actions affect the entire world.If this is all biden's fault, why are other countries also fighting inflation?
Show that it is.Why is inflation worse here?
Lol, how is your war on the globalist going so far, you winning?Because they are doing the same things the Biden pukes are doing and because the Globalist's actions affect the entire world.
Of course not. The Biden pukes are all in with the Globalists.Lol, how is your war on the globalist going so far, you winning?
This information is not difficult to find. Why are you not aware of it?Show that it is.
Not really, I got a good idea of a globalist when I watched the history channel and the men who built america. All of them were huge pricks who stepped on anyone to get what they wanted. I do believe they were the forerunners of the globalists. Would you include the Koch brothers in your globalist war?Of course not. The Biden pukes are all in with the Globalists.
But hey...from me exposing them here, YOU know more about them than you ever did before. That's a start.
Yes the administration has engaged in a bit of hyperbole...but just a bit. Your own included chart shows an elevated spike in food and energy costs since the start of serious recognition that there would be war in Ukraine and the war itself. The only thing that will prevent this war from having even more of an impact on food and energy prices will be mitigation to the extent that it's available.
... Thats kinda what happens when you pump money into a country for ten years and then suddenly demand falls while at the same time ports close down.
Those shocks are still not solved and are still causing inflation. The relief bills themselves contributed, but the fed actions, I believe, were by far the biggest contributors as that money was already in the system pre-covid.
Fair enough, I do agree with this long term outlook.You had me until here, and for the purposes of this thread we need to divorce politics from economics for a moment.
It is worth mentioning that the Biden Administration labeling this "Putin's Inflation" is misleading at best. An after the fact contributor that is adding to the pain the most economically vulnerable feel is a better way to describe this.
And it should surprise no one that the Biden Administration is willing to be disingenuous about this, same group that came up with the terrible idea that inflation was "transitory" then turned around and said it was not so bad because of other economic numbers.
Not economics, political spin.
The very bullshit that may cost them the midterms and flip Congress right back to Republican hands, a "shellacking" in the making if you will.
The reasons for our various economic faults, of which inflation is one of those faults, is monetary policy and fiscal policy has been out of sync for years now. If not decades.
The actions of one usually force the other to react to that instead of economic factors and honestly it is usually Congress and fiscal actions causing the Fed to react with various monetary tools to deal with the impact. Some okay decisions, others really really not okay. Which is to say we end up stuck in a vicious cycle of terrible decisions simply because political policy makes a mess of monetary policy with trade policy being the other area on the outside looking in.
We have been on this bubble and pop path for long enough to confirm that despite the intention of economics, politics has weaponized the intention of fiscal and monetary policy for its own intentions.
If you agree that in principle all economics as a study in this area is about reducing the amplification of the economic cycle (so the highs are not so high with a bubble in the making and the lows are not so disastrous once it pops) then you can conclude with ease that modern government practice and political interest cares not about these things.
It puts the Fed in catch up and 'oh dear God what have we done now' mode since the early 1980s suppressing interest rates and dealing with monetary fault thanks to ill advised fiscal policy wrecking our economy on repeat since the 1980s.
Sorry, you can't spin this.Yes the administration has engaged in a bit of hyperbole...but just a bit. Your own included chart shows an elevated spike in food and energy costs since the start of serious recognition that there would be war in Ukraine and the war itself. The only thing that will prevent this war from having even more of an impact on food and energy prices will be mitigation to the extent that it's available.
Hyperbole is OK if there is some truth in there to sort out. Outright lying and treachery, see Vladimir Putin and to some extent Donald Trump are something else again.
The only one of the multiple bullshit rationalizations that Putin has provided for what is actually a war of conquest is concern that Ukraine would join the EU. Everything else Putin has put forward has been bullshit and a means to hide that he has actually engaged in this butchery as a war of conquest.
The economy, economic output and inflation rates are all moving targets. Putin's war aims if changed at all are only changing because he has had his ass handed to him on the battlefield. I remain unconvinced that Putin's war aims have changed one bit.
You obviously don't understand "supply and demand" along with supply chain logistics. Sure, the supply chain issues started during the pandemic, but demand for many things was way down. In particular, demand for gas was way down and that dropped the price of oil so low that many US producers were losing money and shut down. When the lockdowns went away and as people started eating out more, going more places, doing more travel (to and from work, other places), that is when demand overcame supply dramatically and rapidly.I didn't say or imply those reasons were the only reasons. But don't you think it's odd that inflation was relatively stable during the first year of the pandemic -- when lockdowns and supply chain issues were more severe -- and only really started to take off after the blowout spending "relief" bills of Dec 2020 and March 2021?
I don't have to. The longer the war in Ukraine goes on the more the inflation rate will reflect its impact and I actually do not think there are mitigation remedies to that and NOOOOOO, nobody is going to let Putin have Ukraine as a mitigation method for inflation though I am sure some posters here would be tickled to death if that happened.Sorry, you can't spin this.