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US Inflation Jumped 8.5% in Past Year, Highest Since 1981

Gateman_Wen said:
And another one leaps to the republican defense.
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Republican defense? No policies defense. What Conservative policies have hurt you and your family causing you support for liberal economics?
 
Inflation is not just a US issue.
Inflation rates across the world have risen because of the pandemic and the associated issues with that and also the Russian invasion.
There was a little good inflation news in that Core Inflation, which does not use energy and food prices, dropped slightly.
 
KingLeo said:
Inflation is not just a US issue.
Inflation rates across the world have risen because of the pandemic and the associated issues with that and also the Russian invasion.
There was a little good inflation news in that Core Inflation, which does not use energy and food prices, dropped slightly.
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It's worse in the US.
 
KingLeo said:
Inflation is not just a US issue.
Inflation rates across the world have risen because of the pandemic and the associated issues with that and also the Russian invasion.
There was a little good inflation news in that Core Inflation, which does not use energy and food prices, dropped slightly.
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Didn't we have a pandemic in 2020? What was the inflation rate in 2020? The left will always make excuses never accepting responsibility for failed economic policies which simply spend money adding fuel to the inflation when jobs were returning and the economy recovering.
 
jonny5 said:
Well the good news is election in 6 months. If the democrats lose the majority, then we can at least have some obstruction again to keep all this new spending from going forward. Biden just proposed another 10 trillion in debt so that needs to be stopped.
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That's not gonna stop this train
 
noonereal said:
You graph does not dispute my claim. Do you even realize this?
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Yes, it absolutely does.

Why don't you just acknowledge you got out over your skis and claimed something was a fact that wasn't. The US currently has almost the worst inflation rate of the world's largest economies; fact, not opinion.
 
Plasmaball said:
That's not gonna stop this train
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And yet the US deficit dropped by $360 billion and new proposals would drop that another $1.3 trillion.
Government spending has very little to do with the current spike in inflation.
 
NatMorton said:
No, among large economies, our inflation rate seems to trail only Brazil's.
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Biggest economies in 2020 by gross domestic product
RankCountryGDP in billion $
1United States20,953.0
2China14,722.7
3Japan5,057.8
4Germany3,846.4
 
KingLeo said:
Biggest economies in 2020 by gross domestic product
RankCountryGDP in billion $
1United States20,953.0
2China14,722.7
3Japan5,057.8
4Germany3,846.4
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Doesn't matter; we're talking the rate. All else being equal, there's no reason why a larger economy should have higher inflation than a smaller one.
 
KingLeo said:
And yet the US deficit dropped by $360 billion and new proposals would drop that another $1.3 trillion.
Government spending has very little to do with the current spike in inflation.
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Bidens budget request increases the deficit by 500bn in 10 years. Thats without passing additional spending bills like BBB.
 
Conservative said:
This is exactly what happens when you put a person in office and others in power over a private sector economy that has no private sector experience or understanding of what happens when you throw gasoline on to a fire in the form of taxpayer funded stimulus that went to a returning job market and recovering economy. That spending boosted demand and spending while not addressing supply.
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yeah...things were much better when we had trickle down
 
Conservative said:
What I do recognize are the excuses you make for poor economic policies that led to the inflation in this country, worldwide economies have very little to do with the U.S. economy but massive gov't spending like is done in those world wide economies certainly do. Talking about someone who doesn't have a clue about economics and the components of GDP look in the mirror
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So you think trump was wrong when he spent more than Biden did on COVID stimulus?
 
And in case anyone is going to try and blame the war in the Ukraine for the US's particularly bad inflation numbers (i.e. parrot the Biden administration's misinformation), here's where we stood in the world rankings in Q3 of last year:

1649795096283.png

www.pewresearch.org

Inflation has risen around the world, but the U.S. has seen one of the biggest increases

Third-quarter 2021 inflation was higher in nearly all (39) of the 46 nations analyzed than in the pre-pandemic third quarter of 2019.
www.pewresearch.org www.pewresearch.org
 
Conservative said:
This is exactly what happens when you put a person in office and others in power over a private sector economy that has no private sector experience or understanding of what happens when you throw gasoline on to a fire in the form of taxpayer funded stimulus that went to a returning job market and recovering economy. That spending boosted demand and spending while not addressing supply.
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Where did you want taxpayer funded stimulus to go?
 
jonny5 said:
It may help it from getting even worse. Last time we had GOP congress and dem Pres we stopped increasing spending. Obstruction works in the absence of compromise.
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It wont
 
rahl said:
So you think trump was wrong when he spent more than Biden did on COVID stimulus?
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When the glass is full, you don't pour milk all over the counter and then blame the guy that filled the glass.
 
NatMorton said:
Headline graph from the WSJ just now. The gray bars are the recessions. Notice how they frequently align with the inflation peaks?

Buckle up, folks.

View attachment 67385205
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That looks kind of like the CO2 graph. If only righties cared half as much about that as they did inflation.
 
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