You agree with Flagpole on practically everything (at least that you're willing to post). What a strange cliché thing to say.
Flagpole, what makes you so confident that GDP growth will be positive in Q3? All the projections have been revised down since the last CPI report.
Their belief is that falling gas prices created by releases from the SPR will have stimulated mild economic growth. There was a very slight uptick in the CCI in September that might give a whiff of this. But the reality is that CCI is still below where it was during the worst part of the pandemic. My belief is falling gas prices is more of a sign of continued recession. What we can agree on is that it is a temporary reprieve that will likely go away after the election and the valve on the SPR is shutoff. Other than drawing down the SPR, Biden and the left have done basically nothing to address inflation.
1) using the SPR was also a weapon against putin, not just an anti- inflation tool. If we can drop the price of oil, it will weaken putin significantly. It seems to have done its job well. Oil is cheaper now and RU has less money.
2) One thing Biden has done well to help with inflation is not attack the federal reserve. Other presidents would have threatened to fire the Fed Chair, which would have sent mixed messages around the markets. That would have weakened the Fed's ability to talk down inflation. Kudos to joe for that. Helps a lot to keep the Fed believable. Biden is doing what presidents are supposed to do: put the nation ahead of his own interests. The Fed is deliberately driving the economy into the gutter and Biden knows that has to be done to kill inflation.
That is true. I put the entire blame on the GOP establishment swamp dinosaurs, specifically to the useless Cocaine Mitch. I do not want him as Majority Leader ever again. We need one of the M-aga senators to take over the Senate- Josh Hawley or a Rick Scott would be great in that position. This will set the stage to more wasily pass America First legislation with either DeSantis or Trump in 2025.
So you are against LEGAL immigration and you support HATE CRIMES against Asian Americans? You are showing your true color.
Where in the hell did you come up with that ridiculous conclusion? Get your head examined.
You made a specific claim that the 2017 tax cuts caused inflation. They may have have been unnecessary, but they didn't cause inflation, the data is already in on that.
I did not make that claim at all. I just read my comment and I can see where you got that from (“did the same thing”), but that’s not specifically what I said and it’s not what I meant either.
My point was that if all it took to create inflation was 1.5ish trillion dollars of money printed into the economy unnecessarily, then why didn’t it happen under Trump when he did that very “thing?” How did the most recent 1.9 trillion destroy the economy but that previous 1.5 was amazing great the best ever?
I just think you guys aren’t really thinking that hard about this and your political bias of “liberal bad” is leading you to believe that the Biden policy specifically destroyed everything. You WANT to believe that.
Oh you want the basic economics explanation? The 1.9 trillion was spent immediatley, largely in the form of stimulus checks designed to get people to spend money in the short-term, driving up the prices of consumer goods. Boosting inflation is the point of stimulus bills, which is why they're usually done when we're trying to avoid deflation (2008-9, 2020).
The "1.5 trillion" in tax cuts is an estimate of loss of revenue spread over 10 years and came in the form of marginally lower taxes. That means it only went to people with jobs (unlike checks that may delay people from re-entering the WF) and much of the gains went to high earners who invested it rather than drove up the CPI. That's why one contributed inflation and the other didn't.
Three Republican senators on Wednesday introduced legislation supported by President Trump that would reduce overall immigration levels to limit low-skilled workers from entering the country, which…
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Reminding us all of something that is constantly made very clear in MANY different ways:
Non-Trumpers: Willing to see things for how they are, regardless of whether or not it helps their tribe, or compliments the other tribe (....there's just SO few chances to do the latter since Trump came around).
Trumpers: Exactly 180 degrees out from that, 24/7/365.
AOC could have a half PR of 1:58, and she'd still be a slow, radical leftist DESTROYING our country....don't you know. And Trump could shoot someone in the middle of 5th Avenue, and....
Who the f*** would have thought that that would turn out to perhaps NOT be an exaggeration ??
I did not make that claim at all. I just read my comment and I can see where you got that from (“did the same thing”), but that’s not specifically what I said and it’s not what I meant either.
My point was that if all it took to create inflation was 1.5ish trillion dollars of money printed into the economy unnecessarily, then why didn’t it happen under Trump when he did that very “thing?” How did the most recent 1.9 trillion destroy the economy but that previous 1.5 was amazing great the best ever?
I just think you guys aren’t really thinking that hard about this and your political bias of “liberal bad” is leading you to believe that the Biden policy specifically destroyed everything. You WANT to believe that.
Oh you want the basic economics explanation? The 1.9 trillion was spent immediatley, largely in the form of stimulus checks designed to get people to spend money in the short-term, driving up the prices of consumer goods. Boosting inflation is the point of stimulus bills, which is why they're usually done when we're trying to avoid deflation (2008-9, 2020).
The "1.5 trillion" in tax cuts is an estimate of loss of revenue spread over 10 years and came in the form of marginally lower taxes. That means it only went to people with jobs (unlike checks that may delay people from re-entering the WF) and much of the gains went to high earners who invested it rather than drove up the CPI. That's why one contributed inflation and the other didn't.
I accept the explanation for the tax cuts, but I still think the inflation narrative is more complicated than your "it's all Biden's fault" narrative.
I thought this was an interesting read by an Econ PhD candidate:
I think it's more likely that a once in a lifetime world changing supply chain disruption was the main culprit here and not the 1.9 tril on top of the existing 2.2 tril that really broke the camel's back. It certainly contributed but I think the simplistic blame it all on Biden is coming from a partisan and political viewpoint. I witnesses the same exact thing when the left blamed everything bad that happened on Trump every single day he was in office.
My dear, that actually should be either 24/7/52 (twenty-four hours in a day, seven days in a week, fifty-two weeks in a year) or perhaps 24/365 (twenty-four hours in a day, three hundred sixty-five days in a year). I'm afraid that 24/7/365 makes no sense.
In a court filing today, New York Attorney General Letitia James revealed she will seek to fast track the $250 million civil lawsuit against Donald Trump and set a trial date before the 2024 election.
My dear, that actually should be either 24/7/52 (twenty-four hours in a day, seven days in a week, fifty-two weeks in a year) or perhaps 24/365 (twenty-four hours in a day, three hundred sixty-five days in a year). I'm afraid that 24/7/365 makes no sense.
Good grief man, no one cares. It's a common phrase, everyone knows what it means.
In a court filing today, New York Attorney General Letitia James revealed she will seek to fast track the $250 million civil lawsuit against Donald Trump and set a trial date before the 2024 election.
She ran on a platform of going after Trump.
Not what you want in an AG. You want someone who runs on a platform to fairly uphold the law.
Oh you want the basic economics explanation? The 1.9 trillion was spent immediatley, largely in the form of stimulus checks designed to get people to spend money in the short-term, driving up the prices of consumer goods. Boosting inflation is the point of stimulus bills, which is why they're usually done when we're trying to avoid deflation (2008-9, 2020).
The "1.5 trillion" in tax cuts is an estimate of loss of revenue spread over 10 years and came in the form of marginally lower taxes. That means it only went to people with jobs (unlike checks that may delay people from re-entering the WF) and much of the gains went to high earners who invested it rather than drove up the CPI. That's why one contributed inflation and the other didn't.
I accept the explanation for the tax cuts, but I still think the inflation narrative is more complicated than your "it's all Biden's fault" narrative.
I thought this was an interesting read by an Econ PhD candidate:
I think it's more likely that a once in a lifetime world changing supply chain disruption was the main culprit here and not the 1.9 tril on top of the existing 2.2 tril that really broke the camel's back. It certainly contributed but I think the simplistic blame it all on Biden is coming from a partisan and political viewpoint. I witnesses the same exact thing when the left blamed everything bad that happened on Trump every single day he was in office.
I’m sure the stimulus did increase inflation by some amount…100 bps? 150? But the main culprits were Covid and energy. We still would have had very high inflation….just not quite as high. But in exchange we got massive GDP growth in 2021. It’s always a trade-off in economics.
The worry was that congress would go too small, like after the great financial crisis, and sentence us to a slow recovery. They went big..probably a bit too big.
You were bashing Christianity when you referenced, in a scornful and derogatory way, the "magic man in the sky." Now you are backtracking because you fear that all the fine, upstanding, J. Christ-fearing posters here (there are several) will turn on you for slandering their one and only Lord above.
You are a very sad, faith-less unbeliever. You've probably even engaged in deviant polymorphous tantricalist sex acts like Marge Taylor Green.
"Let marriage be held in honor among all, and let the marriage bed be undefiled, for God will judge the sexually immoral and adulterous."
-- Hebrews 13:4 --
And yet AdultRoom (AiR) comes in here mocking the very god that judged Taylor-Greene as unrepenitential with her debauched polyamory tanrtical sex practices. AiR has no respect for deeply held Christian faith, and he probably has no respect for America too.
Reminding us all of something that is constantly made very clear in MANY different ways:
Non-Trumpers: Willing to see things for how they are, regardless of whether or not it helps their tribe, or compliments the other tribe (....there's just SO few chances to do the latter since Trump came around).
Trumpers: Exactly 180 degrees out from that, 24/7/365.
AOC could have a half PR of 1:58, and she'd still be a slow, radical leftist DESTROYING our country....don't you know. And Trump could shoot someone in the middle of 5th Avenue, and....
Who the f*** would have thought that that would turn out to perhaps NOT be an exaggeration ??
You Trumpers - admitted and not - really do su**.
"Non-Trumpers: Willing to see things for how they are, regardless of whether or not it helps their tribe, or compliments the other tribe "
Reminding us all of something that is constantly made very clear in MANY different ways:
Non-Trumpers: Willing to see things for how they are, regardless of whether or not it helps their tribe, or compliments the other tribe (....there's just SO few chances to do the latter since Trump came around).
Trumpers: Exactly 180 degrees out from that, 24/7/365.
AOC could have a half PR of 1:58, and she'd still be a slow, radical leftist DESTROYING our country....don't you know. And Trump could shoot someone in the middle of 5th Avenue, and....
Who the f*** would have thought that that would turn out to perhaps NOT be an exaggeration ??
You Trumpers - admitted and not - really do su**.
Admitted or not, you wimpy lying Bidenettes really do S*CK!
Reminding us all of something that is constantly made very clear in MANY different ways:
Non-Trumpers: Willing to see things for how they are, regardless of whether or not it helps their tribe, or compliments the other tribe (....there's just SO few chances to do the latter since Trump came around).
Trumpers: Exactly 180 degrees out from that, 24/7/365.
AOC could have a half PR of 1:58, and she'd still be a slow, radical leftist DESTROYING our country....don't you know. And Trump could shoot someone in the middle of 5th Avenue, and....
Who the f*** would have thought that that would turn out to perhaps NOT be an exaggeration ??
You Trumpers - admitted and not - really do su**.
"Non-Trumpers: Willing to see things for how they are, regardless of whether or not it helps their tribe, or compliments the other tribe "
So delusional it's frightening
.
no
literally you have two non-trumpers on this very page today agreeing that some of the Dem stimulus increased inflation.
hardloper is the only trumper who will give even an inch. They literally write that we'd have no inflation if not for the stimulus.
