Sen Manchin raises alarms on inflation - inflation to the American people is not "transitory"

RedSun said:
Ignored.
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Sadly, that's what we would anticipate. My hope was that you would surprise us.

There are two main personality types among the sane, and many variations.

Red Sun's personality is type 1. He's speeding down a street. A car pulls slowly out from an intersecting street. The driver can not see clearly to his left and is therefore being overly cautious. He makes a right turn onto the street of the fast approaching Red Sun. The driver completes the turn and the speeding Red Sun is forced to brake. Red Sun pulls up to within inches behind the car that has turned to the right in front of him and lays on his horn for about a block.
 
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piezoe said:
Sadly, that's what we would anticipate. My hope was that you would surprise us.

There are two main personality types among the sane, and many variations.

Red Sun's personality is type 1. He's speeding down a street. A car pulls slowly out from an intersecting street. The driver can not see clearly to his left and is therefore being overly cautious. He makes a right turn onto the street of the fast approaching Red Sun. The driver completes the turn and the speeding Red Sun is forced to brake. Red Sun pulls up to within inches behind the car that has turned to the right in front of him and lays on his horn for about a block.
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you brought up a dead thread.... sadly.
 
‘6% inflation is devastating’ to everyday Americans, rising prices need to be curbed, expert says

  • Inflation is here to stay, and the Federal Reserve is leaving the economy and everyday Americans at risk by keeping rates so low, one bond expert says.
  • “Everyday Americans are having a very difficult time with food inflation, which is running very close to 30% and 40%,” said Gilbert Garcia, a managing partner at Garcia Hamilton & Associates.
“I wished we’d retire the word ‘transitory,’” Garcia said, at the CNBC Financial Advisor Summit on Wednesday, speaking of predictions that the recent rise in prices are temporary.


“Inflation is running at 6%, probably well over 6%, no matter how you look at it,” he added. “It’s pretty clear that it’s longer than transitory and it’s much hotter than their inflationary target.”
 
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R1234 said:
Biden's administration seems to think its a good idea to pass the BBB right now and release an additional $2T into the money supply. He's even claiming that the BBB will decrease inflation. I am no economist but, to me, he seems to either be lying or delusional.
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It is not actually very much, should have been more, over a decade. You have to take time into account. It's irresponsible to talk of nominal amounts without including both time and what is being bought with the money and what the projected returns are. I believe the final BBB House Bill as passed (Infrastructure was split off) was only around 1.75 T, spread out, not necessarily uniformly, over a decade. We are talking about a paltry 175 B per year on average. It's a tiny amount relative to the projected benefits! We should have done more, particularly in primary and secondary education, where the ROI can be monumental. For example, imagine what the return might be just from cutting K through 4 class size in half. Sadly the money is not there for that, but it should have been.

As a start see: https://www.whitehouse.gov/briefing...en-announces-the-build-back-better-framework/
 
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