Inflation is a feature of economic recovery. In the U.S. right now, it’s being driven by a few overlapping factors resulting from the Covid-19 pandemic: low interest rates set by the Federal Reserve, several rounds of direct government stimulus to both consumers and businesses, and pent-up consumer demand that is being unleashed as the U.S. reopens.
Economics driven by supply and demand are currently struggling because of lack of supply, lack of workers, lack of resources to produce and transport and free money incentives to sit around on your duff.
The expanded unemployment benefits that conservatives claimed provided an incentive to not work, have long expired and yet, workers didn’t return to work. You are going to have to find a different boogie man to blame.
And what the **** do you know?
Well at least you are right for once. Prices will continue to rise until there is no longer a middle class. Just several levels of poor.
5.4% compared to last year...
My first reaction was 'Is Dorsey more often correct? Or incorrect?
and it's like, Hmmmm.
Sure seems like it. And if the liberal elites were left on their own, they'd have passed the $3.5T - $5.5T government dependency addition bill which would have made it far worse, and likely the hyperinflation that Dorsey is predicting.
eorhn, its good that you attempt to use logic (instead of obedience) whether or not to believe someone but he's a software guy not an economist. You usually look for any excuse to not believe people with no experience. Case in point, here's your opinion on Paul Krugman
so not only do you owe Paul an apology you've seemed to abandoned the obedient conservative narrative of "he was wrong about this one thing one time so I dont ever have to believe anything this guy tells me". And I also expect you to be more approving of Paul's opinion since he has an excellent track record.
Do you really ****ing think Jack Dorsey is a Republican?
I really don't see inflation holding steady, the supply issues are driving prices higher and quickly.
6.1%/yr is not hyperinflation. We had a worse time in the late 70s and early 80s (and even back then, it still wasn't hyperinflation). In June of 1920, the inflation rate was 23.7%/yr (which is the highest measured in this country), which is high, but still not hyperinflation.
This is the more nuanced understanding of something as complex as a national economic we need.
I notice that you edited out the link of what actual hyper inflation is by investopedia since facts ran counter to your narrative
No, it’s not. That is a lie. As your first sentence is a lie the rest of this cannot be taken seriously, but please I hope the left runs on “why hyperinflation is a good thing”
I for one blame libs for inflation, transgenders running amok, and my cat arfing up a hairball on My Pillow.
