These statements about transitory inflation are bs, it is INFLATION!

UsualName said:
Larry Summers is right except for the fact that this inflation is a global problem we cannot solve from the US central bank. Dr. Summers looks at a patient with a high fever and recommends cutting his head off because that’s where he took the temperature.

There’s nothing political here on my part. That’s your thing everything comes back to the election. You were a countdown to the midterms 20 months ago.

Seriously, the Fed needs to cool off these interest rate hikes because what is needed is actually a political solution.
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So, transitory but much longer and the new goal is to get prices to stop inflating month to month rather than revert back to pre-inflation levels. Yup. Just keep moving the goalposts. You will be right at some point.

And yes, we have done the same stupid things that the rest of the world has done so are beginning to look like the rest of the world. We through away our energy independence and then paid people bigtime to stay home and collect bigtime and now wonder why the labor participation rate is so low and why wages need to be raised even more to get people to come back- and wondering when all the cash saved up from the freebie days will be exhausted. All things that could have been solved on the homefront versus the new way of thinking by the dems which is "hey, Europe and all the shithole countries are fucked up too so why are you looking at us." Losers.
 
typical partisan blindness.....

Biden and trump both pushed huge covid stim packages but no...... biden has magic powers to approve bills before he was even president..


Beginning under then-President Donald Trump and continuing through President Joe Biden’s administration, Congress has approved some $4.5 trillion in total aid spending, according to Treasury Department data. Federal agencies have formally committed to using about $4 trillion of that, and have made $3.5 trillion in actual payments to date.
 
El OchoCinco said:
typical partisan blindness.....

Biden and trump both pushed huge covid stim packages but no...... biden has magic powers to approve bills before he was even president..


Beginning under then-President Donald Trump and continuing through President Joe Biden’s administration, Congress has approved some $4.5 trillion in total aid spending, according to Treasury Department data. Federal agencies have formally committed to using about $4 trillion of that, and have made $3.5 trillion in actual payments to date.
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Consider the possibility that the first round of funding might have been appropriate and needed but then the dems came along with their "too much is not enough"philosophy. No means testing, and pushing people's savings up to ungodly high levels and then everyone wondering why it is hard to recruit workers and when an employer can, they must pay higher wages- pushing inflation even higher.

What a mess. Billions of covid dollars got scammed away too. The feds had no control and did not care how the states managed or provided oversight.

Meanwhile, as we speak the feds are looking into DeSantis spend unsused covid funds to fly migrants around or something like that. Yep. They jumped right on that. Probably fake too, unlike the covid corruption which is very real.
 
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TreeFrogTrader said:
So, transitory but much longer and the new goal is to get prices to stop inflating month to month rather than revert back to pre-inflation levels. Yup. Just keep moving the goalposts. You will be right at some point.

And yes, we have done the same stupid things that the rest of the world has done so are beginning to look like the rest of the world. We through away our energy independence and then paid people bigtime to stay home and collect bigtime and now wonder why the labor participation rate is so low and why wages need to be raised even more to get people to come back- and wondering when all the cash saved up from the freebie days will be exhausted. All things that could have been solved on the homefront versus the new way of thinking by the dems which is "hey, Europe and all the shithole countries are fucked up too so why are you looking at us." Losers.
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Energy independence is a myth. Even if we net/net consumption/produce that means Jack shit if we don’t put public controls on the export and sale of energy. But please tell me more about your free market socialism.

The US is in much better economic shape than Europe currently. Cleanest shirt in the dirty pile rule applies.

You can sell that somehow the US should have been immune from the supply disruptions caused by Covid somewhere else. China is growing by 3% this year as opposed to 8% last year. Why is that? It’s not that we are not consuming, it’s they are not supplying.

We should not knock our economy down to meet faltering suppliers as the Fed is doing. We need to establish new suppliers to make up for it. That’s why this is a political problem, not a monetary problem.

And yes, the oil supply is an issue. The Saudis want to disrupt the market because the dollar is too strong and oil gets traded in dollars which weakens the value of their primary source of funding.

Let the Saudis be snakes. Lets see how they like swimming in oil when they can’t scramble an a fighter response. Maybe the Russians will them with their military needs.
 
TreeFrogTrader said:
Consider the possibility that the first round of funding might have been appropriate and needed but then the dems came along with their "too much is not enough"philosophy. No means testing, and pushing people's savings up to ungodly high levels and then everyone wondering why it is hard to recruit workers and when an employer can, they must pay higher wages- pushing inflation even higher.

What a mess.
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your criticism in general is true about the situation, attributing it all to dems is just partisan.

When the entire world saw higher freight rates, increased fuel costs and rising food prices, how did Biden accomplish all of that.? he didnt because a simple understanding of Economics 101 shows that the money pumped into the system for years (you forget trumps spending was as bad as biden's is now) and a post covid economic surge lead to spikes in prices all over which is finally starting to show signs of causing issues in the global economy.

it is a cleaqrly proven fallacy that dems spend and gop cuts.... they both spend because every policy or piece of law requires spending to put it into effect.

There are generalized differences in how Dems and GOP approach basic economics but all politicians spend money to pad theor resume and make their friends rich.... I can show you spending under Biden, Trump, Obama and Bush and only partisan eyes would claim there is a difference. They all find justifications why their is not out of control spending but actual policy but we are a consumer economy.....we spend shit.
 
El OchoCinco said:
your criticism in general is true about the situation, attributing it all to dems is just partisan.

When the entire world saw higher freight rates, increased fuel costs and rising food prices, how did Biden accomplish all of that.? he didnt because a simple understanding of Economics 101 shows that the money pumped into the system for years (you forget trumps spending was as bad as biden's is now) and a post covid economic surge lead to spikes in prices all over which is finally starting to show signs of causing issues in the global economy.

it is a cleaqrly proven fallacy that dems spend and gop cuts.... they both spend because every policy or piece of law requires spending to put it into effect.

There are generalized differences in how Dems and GOP approach basic economics but all politicians spend money to pad theor resume and make their friends rich.... I can show you spending under Biden, Trump, Obama and Bush and only partisan eyes would claim there is a difference. They all find justifications why their is not out of control spending but actual policy but we are a consumer economy.....we spend shit.
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One can be in favor of certain spending but not be in favor of reckless spending.

Example. I am in favor of a certain level of funding for Ukraine but both Dems and Pubs voted against a bill by Rand Paul to appoint an Inspector General to oversee funding to Ukraine. Whereupon, I posted twice that I would not approve any funding to Ukraine without at least four inspector generals in charged of various categories of funding.

Later, down the road. It wil be discovered as surely as night follows day that Ukraine is one of the most corrupt countries on the planet when it comes financial accountability. If I point that out when it happens, the tards will stick it up my arese by trying to say "Well you supported funding for Ukraine." Not without accountability I did not. There is a difference.

We had 20 years in AFG and each inspector general reported that only a VERY small portion of funds we passed to the country actually reached their intended purpose. But it did not matter, we did nothing about it and in regard to Ukraine, we solved all that by just not having any inspector general to point out any deficiencies.

The analogies to covid funding are extensive. The needs were many- but the need for oversight was great too- and we did next to nothing. It's how we roll.
 
TreeFrogTrader said:
One can be in favor of certain spending but not be in favor of reckless spending.

Example. I am in favor of a certain level of funding for Ukraine but both Dems and Pubs voted against a bill by Rand Paul to appoint an Inspector General to oversee funding to Ukraine. Whereupon, I posted twice that I would not approve any funding to Ukraine without at least four inspector generals in charged of various categories of funding.

Later, down the road. It wil be discovered as surely as night follows day that Ukraine is one of the most corrupt countries on the planet when it comes financial accountability. If I point that out when it happens, the tards will stick it up my arese by trying to say "Well you supported funding for Ukraine." Not without accountability I did not. There is a difference.

We had 20 years in AFG and each inspector general reported that only a VERY small portion of funds we passed to the country actually reached their intended purpose. But it did not matter, we did nothing about it and in regard to Ukraine, we solved all that by just not having any inspector general to point out any deficiencies.

The analogies to covid funding are extensive. The needs were many- but the need for oversight was great too- and we did next to nothing. It's how we roll.
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Problem is money is always printed when needed for the right election based cause.... Ukraine... $$$ ... Hurricane Ian...$$$....Covid employee loans $$$$...all of those are Black holes where money goes way over what is required.

Then when there is a real need and veyr few people care, suddenly spending puckers up and fiscal responsibility suddenly becomes the catch word becuase there is no political risk.

Amazing how a few billion is created to send weapons somewhere but when you mention problems Americans are suffering with it suddenly becomes political and there is no money.....

Spending increased every year between 2016 - 2020 and we had a GOP and DEM controlled Congress for 2 years each. That tells you everything...
 
wildchild said:
The same people are claiming we are experiencing transitory inflation are the same people who lied to us repeatedly about COVID.

Biden and his team have a poor track record.
a
I have a feeling were are going to hear 'it depends on what your defination of transitory is'
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Look at that, Wildchild comes in with no sources, no expert opinions, no ridiculous media musings.

Wildchild comes in with sheer intuition and nails it.

Lets not forget, when this thread was started it was greated with laughter and mockery. Who is laughing now?

Another huge victory.

https://www.newyorker.com/news/our-columnists/why-is-high-inflation-proving-so-persistent
 
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