Biden's Economy?

[Doctor CamNC4Me]

Or you could look at any gains you made with regard to wages were cancelled by insane inflation. Also:

https://www.experian.com/blogs/ask-expe ... ebt-study/

tl;dr - KG is at odds with Experian with regard to how he views debt and inflation.

- Doc

[K Graham]

Or you could look at any gains you made with regard to wages were cancelled by insane inflation. Also:

https://www.experian.com/blogs/ask-expe ... ebt-study/

tl;dr - KG is at odds with Experian with regard to how he views debt and inflation.

- Doc

Sure, but the main difference is inflation is temporary while wage gains are mostly permanent. Also, we know why inflation is occurring, it is no mystery, and it has everything to do with supply vs. demand. The article above refers to record high consumer debt for the year 2020. Obviously, we know the pandemic was the reason for this along with low interest rates. Inflation didn't really begin happening until the growing sentiment that we were reaching the end of the pandemic and more people were traveling, restrictions were being lifted, etc.

Also, while household debt is high, as a percentage of GDP it is actually going down.

247901617_10159483343625950_7465447862840379439_n.jpg

Also, as a percentage of total assets, household debt is at an all-time low.

242320447_10159483337125950_3052716871745124451_n.jpg

Debt as a percentage of income is also down:

241197541_10159483360285950_4403031388391992240_n.jpg

[K Graham]

What I'd like to hear, is someone explain how a Fiscal Conservative in the White House would have prevented inflation. So far all I see is tons of whining, blaming Biden as if he did something to cause it. People on this forum like Ajax have already blamed Biden.

So serious question. What would a fiscally conservative Republican do as President to make it better? Because for the life of me the only thing I remember the GOP pushing for economically, no matter what the situation, is just more tax cuts for the wealthy and minimizing government spending (unless they're in power). Is there something else they have in mind?

[canpakes]

… a fiscally conservative Republican …

[Doctor CamNC4Me]

I don’t think we’ve had a fiscally conservative Republican President since Bush 1. But, KG does ask good questions.

The only thing I think is applicable ref inflation, aside from pent up consumerism is making the cash machine go brrrrr has, in fact, caused currency to lose perceived value. Why? Simple economics. You put $4k or whatever in everyone’s hands coupled with businesses having taken supply line precautions due to shut downs and things are what they are. Demand is very high, supply is a bit tight, real estate inventory is really tight, and well, here we are.

Whatever the case may be I’m hoping crap calms down. I haven’t seen inflation like this since I was a kid in the 70’s, and I’m not sure it was this bad.

- Doc

[K Graham]

I don’t think we’ve had a fiscally conservative Republican President since Bush 1. But, KG does ask good questions.

The only thing I think is applicable ref inflation, aside from pent up consumerism is making the cash machine go brrrrr has, in fact, caused currency to lose perceived value. Why? Simple economics. You put $4k or whatever in everyone’s hands coupled with businesses having taken supply line precautions due to shut downs and things are what they are. Demand is very high, supply is a bit tight, real estate inventory is really tight, and well, here we are.

Whatever the case may be I’m hoping crap calms down. I haven’t seen inflation like this since I was a kid in the 70’s, and I’m not sure it was this bad.

- Doc

I haven't looked it up, but I remember my step-Dad telling me inflation averages 6% every year. This was late 80's when he said this and it may have been hyperbole.

I also remember his mortgage rate was 8.0% flat and that was considered rock bottom.

[Hawkeye]

What I'd like to hear, is someone explain how a Fiscal Conservative in the White House would have prevented inflation. So far all I see is tons of whining, blaming Biden as if he did something to cause it. People on this forum like Ajax have already blamed Biden.

So serious question. What would a fiscally conservative Republican do as President to make it better? Because for the life of me the only thing I remember the GOP pushing for economically, no matter what the situation, is just more tax cuts for the wealthy and minimizing government spending (unless they're in power). Is there something else they have in mind?

Yeah, who would ever predicted that if you pay people to stay home and not go to work that they won't go? Surely printing stimulus money and handing it out to people while forbidding them to return to work wasn't the cause of inflation.

Are you ready to take back your comment about the predictions of the "idiots" in the right wing media? Hyperinflation and outrageous gasoline prices seems to have proven true.

[K Graham]

Lord only knows why Ajax thinks he's being cute and witty by using Hawkeye.

Yeah, who would ever predicted that if you pay people to stay home and not go to work that they won't go?

That's not what's happening. That's just more Right Wing BS. It is their roundabout way of being racist since they firmly believe minorities represent the majority of those too lazy to work.

Surely printing stimulus money and handing it out to people while forbidding them to return to work wasn't the cause of inflation.

Nope, that didn't happen either.

Are you ready to take back your comment about the predictions of the "idiots" in the right wing media? Hyperinflation and outrageous gasoline prices seems to have proven true.

The idiots on the Right have been predicting hyperinflation and $5-$10 gasoline since Obama, but it never happened. What we're seeing now isn't hyperinflation. It is just sad that the liars on FOX News refuse to produce an honest person to state the simple economics of what's happening. They're all just amazingly ignorant or flat out lying to you. The fact that prices are going up is just a result of the economy getting back on track. But the idiots at FOX are just obsessively stupid. Within three days they've had disingenuous people blame Biden for gasoline prices 102 times!

January 2021:

Industry experts predict spike in gas prices for 2021

As country recovers from COVID-19, gas prices will increase, says industry analyst

by the way, you never answered the question. What measures would a conservative President take to reduce inflation? You have no damned clue do you.

[K Graham]

The price of gasoline nearly tripled during eight years of George Bush and FOX remained mum on the subject. He left office with it averaging $3.25. FOX news predicted an Obama presidency would result in $5-$10 gas prices, but prices plummeted to $2.35 in 2009. Then as the economy began to pick up again it reached $3.62 in 2012 as demand outpaced supply. FOX ran 24/7 segments having conniption fits about how Obama is causing gas spikes. But that was just temporary and during the last four years of Obama the price dropped all the way down to $2.14. It jumped to $2.75 over Trump's first two years and not a word from FOX about how the President is making gas prices go up. I always know when FOX is going to blame the President for gasoline prices. It all depends on if the President is Republican or not.

TRMP.jpg

[canpakes]

Yeah, who would ever predicted that if you pay people to stay home and not go to work that they won't go? Surely printing stimulus money and handing it out to people while forbidding them to return to work wasn't the cause of inflation.

Most folks did not get to sit on the sidelines while earning more than their pre-pandemic salaries through stimulus. And when stimulus payments were at max deployment, inflation wasn’t a problem anyway. Inflation kicked into gear well after those checks were spent. You need to factor in supply-chain difficulties as well, and then ask yourself who or what ‘forces’ retailers to raise prices. ; )

Are you ready to take back your comment about the predictions of the "idiots" in the right wing media? Hyperinflation and outrageous gasoline prices seems to have proven true.

You mean, this quote from Icarus, in your signature -

“The best part about this is waiting four years to see how all the crazy apocalyptic predictions made by the fear mongering idiots in Right Wing media turned out to be painfully wrong...Gasoline would hit $10/gallon. Hyperinflation would ensue.”

Why would he take it back? Gas prices haven’t hit $10 a gallon; they’re not much greater now than the level they hit back in 2014. And 6% inflation is a looonnngg way from hyperinflation.

Anyway, you should ask the oil producers why gas prices are high. They’ll tell you why, and it won’t match what you want to believe the reason is.