Why inflation may be worse than you think it is

[pmac666]

Finally a dem will get into office with a good (remarkabale) economy.
Been a while and it looks like the Biden/Harris admin did something right after they inherited a mess of an economy.

From the radical leftist WSJ and Rupert Murdoch.



The old perpetual motion, reps destroy it, dems repair it.

[HitRed]

Gold always is strong before a recession.

Bumping this post

Gold $2,740 per ounce

[jusplay4fun]

Democrats' $1.9 trillion bet that blew up

Nearly four years ago, the Biden administration and Congressional Democrats made a $1.9 trillion bet in the form of the American Rescue Plan. They lost, as it contributed to a surge in inflation that fueled massive voter discontent and Donald Trump's return to the White House.

Why it matters: In the next recession, politicians and policymakers may be more hesitant to unleash the type of programs that drove America's rapid recovery from the pandemic-induced crisis.

Catch up fast: With the ARP, Democrats wagered that the risk of under-stimulating the economy was greater than the risk of over-stimulating. They were determined not to repeat the mistakes of the 2010s, when unemployment remained elevated long after the Global Financial Crisis was long over.

The ARP included $1,300 payments to American families at a families that were already sitting on hefty pandemic savings, generous unemployment benefits at a time businesses were ramping up hiring, and extra cash for state governments that were in fine financial shape.

What they were saying: "In general, increases in inflation disproportionately hurt the poor and are associated with reductions in trust in government," Larry Summers, the most prominent of those critics, wrote in May 2021.

Democrats shrugged off the concerns of centrist and conservative economists who warned that the cumulative stimulus — the $1.9 trillion ARP came on the heels of $2.7 trillion in pandemic relief enacted under former President Trump — was a recipe for inflation.
(...)

But voters appeared more concerned about the cumulative impact of inflation — prices are 21% higher now than 4 years ago — than the fact that the annual inflation rate has slowed to 2.4%.

The bottom line: At the beginning of the Biden years, liberal economists were full of enthusiastic talk about creating a "high-pressure" labor market and "running the economy hot." As it turned out, Democrats got burned.

https://www.msn.com/en-us/money/markets/democrats-1-9-trillion-bet-that-blew-up/ar-AA1tPcfh?ocid=BingNewsSerp

[mookiemcgee]

They got burned in the election because people like you didn't care about reality and chose to focus on perception, but the plan DID work and the country is better for it.
In other words they didn't sell the ideas convincingly to you, even though the data is crystal clear they managed the situation better than most other countries in the world all of whom were in similar situations. They were successful in reducing the inflation rate, growing the economy and keeping unemployment low in spite of the massive monetary inflation created by the fed printing money during the pandemic, and the massive amount of spending under the last year of Trumps administration after the predictable peak about 1.5-2 years after the spending/printing boom of 2020/21.

Does anyone want to say out loud in any amount of meaningful detail how Trump will reduce inflation from here? Or do we just speak in generalities here with no specific plan or promise outside of 'I will reduce inflation' & 'massive tarrifs on everything'?

Keep in mind... we are now basically at the Feds target inflation rate. Let me guess, Trump reduced inflation to the target rate just by being on the ballot and you will give him all the credit for the next four year unless he fucks it up? seems reasonable.


Trump signs 2.3 Trillion dollar covid relief bill Dec 2020 - https://en.wikipedia.org/wiki/Consolida ... _Act,_2021
Trump signs 2.2 Trillion dollar covid relief bill March 2020 - https://en.wikipedia.org/wiki/CARES_Act
Trump signs 1.1 Trillion dollar covid relief bill July 2020 - https://en.wikipedia.org/wiki/HEALS_Act

[Pack Rat]

14th Amendment, section 3

No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any State, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any State legislature, or as an executive or judicial officer of any State, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof. But Congress may, by a vote of two-thirds of each House, remove such disability.

show

[jusplay4fun]

14th Amendment, section 3

No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any State, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any State legislature, or as an executive or judicial officer of any State, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof. But Congress may, by a vote of two-thirds of each House, remove such disability.

show

Trump does not meet any such criteria. We are not ignoring the Law or the Constitution.

Tell me when, O WISE Trump was
1) charged with insurrection or rebellion? OR---
2) convicted of insurrection or rebellion?
3) When was Trump removed from such?

Let me make it easy for you, and your LOSER friends: NEVER.

END of that weak argument. PERIOD.

[mookiemcgee]

14th Amendment, section 3

No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any State, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any State legislature, or as an executive or judicial officer of any State, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof. But Congress may, by a vote of two-thirds of each House, remove such disability.

show

Trump does not meet any such criteria. We are not ignoring the Law or the Constitution.

Tell me when, O WISE Trump was
1) charged with insurrection or rebellion? OR---
2) convicted of insurrection or rebellion?
3) When was Trump removed from such?

Let me make it easy for you, and your LOSER friends: NEVER.

END of that weak argument. PERIOD.

Agree with you here Jusplay, I think it's reasonable to argue to the electorate he's an insurrectionist but nothing was done in congress to disqualify him under the constitution.

[HitRed]

Heard

The media still lies. - God

[mookiemcgee]

Heard

The media still lies. - God

Packrat is the media now?
Does that mean you pretending to be god's voice is also the media?
Does that mean you/god lies?

[HitRed]

Your challenge is to see through allures of the world.

[jusplay4fun]

14th Amendment, section 3

No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any State, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any State legislature, or as an executive or judicial officer of any State, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof. But Congress may, by a vote of two-thirds of each House, remove such disability.

show

Trump does not meet any such criteria. We are not ignoring the Law or the Constitution.

Tell me when, O WISE Trump was
1) charged with insurrection or rebellion? OR---
2) convicted of insurrection or rebellion?
3) When was Trump removed from such?

Let me make it easy for you, and your LOSER friends: NEVER.

END of that weak argument. PERIOD.

Agree with you here Jusplay, I think it's reasonable to argue to the electorate he's an insurrectionist but nothing was done in congress to disqualify him under the constitution.

I am glad you are well, Mookie. Some were worried that you were ILL and/or "AWOL" for reasons unknown.

I certainly do NOT approve of the actions of the Protestors who stormed the US Capitol on January 6. Most of them have been prosecuted within the Law; that is the way it should be.

I am sure if there were a strong case against Trump, that SOMETHING would have been done already, before the 2024 election. NOTHING was done, but a failed impeachment attempt. I think that Trump was a SORE loser. Trump refused to believe and accept that he LOST the election in 2020, to a candidate as unworthy as Joe Biden, who basically HID in his house for MUCH of the 2020 campaign. (Yes, I know I am re-stating things from that time.)

I also think that rioters in 2017, after the Trump election in 2016, and many of the rioters in 2020 were NOT prosecuted as THE LAW Breakers should have been, because of the actions and inactions many liberal DA's and the support of their defenders in the Media.

I D K why pee-rat put THIS topic with INFLATION, but his arguments are weak, specious, and irrelevant; however. I can make my points and disprove pee-rat's terrible arguments here or in another thread.

[lokisgal]

just wait a year if you think inflation is bad now. Biggest joke on the people of the US ever all for personal gain

[HitRed]

Silver?

Do my will. - God

What type of silver Lord?

All.

[jusplay4fun]

Fired Democrats Blast DNC After Surprise Layoffs, Raising Questions About Harris Campaign Spending

After the Democratic National Committee laid off hundreds, those employees are now calling out the party over the unexpected move and its spending habits during the 2024 election cycle, according to Axios.

In the aftermath of the Harris campaign, Democrats have expressed anxiety over the potential millions of dollars in debt the DNC racked up trying to get the Vice President into the White House, four sources familiar with the situation said to Axios. Amid the fears of mounting debt, the DNC unexpectedly fired hundreds of employees, leaving many — including people in permanent and temporary positions — stunned, current and former employees told Axios.

“This scale of the layoffs is shocking people who have been here for a decade. People are blindsided by this…I’ve completely lost faith in the Democratic Party and I’m still working for them,” a current staffer told the outlet.

(...)
Since the layoffs, Axios reported that there has been an increase in anxiety about the debt the Harris campaign wracked up. A majority of Harris’ campaign funds was used for digital and TV advertising, according to Axios, but aides have started to worry about potential over-spending on bigger rallies and high-profile appearances.

The campaign paid Oprah Winfrey’s production company at least $1 million to host a celebrity-filled town hall, the Washington Examiner reported.

https://www.msn.com/en-us/news/politics/fired-democrats-blast-dnc-after-surprise-layoffs-raising-questions-about-harris-campaign-spending/ar-AA1ujjtj?ocid=winp2fptaskbar&cvid=1d68b296e5af4309f2e0b3870ec9f4b0&ei=12

Do we need MORE PROOF that the Democrats do not know how to control Spending? Here is another reason they LOST the 2024 Elections.