Economy GOP back to Inflation worries. "Hyperinflation" (Update: 2022 Inflation Highest in 40 Years)

Prefect said:
This is real and a powder keg waiting to go off. Republicans just had no concern when Trump left the money faucet on with low interest rates. If Biden raises rates, the economy will contract and should but it will hurt. There is no good way out. Interest rates are low and the covid payments to everyone accelerated inflation. Most money is lent to banks and institutions who don't spend their money on normal people stuff so normal people stuff doesn't inflate. When to start seeing normal people stuff inflate, that shows the money finally trickled down.
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The shit is going to hit the fan this fall when rent and mortgage payments come due to the millions who deferred
 
"Housing is too expensive!!! Why can't millenials afford houses???"
"Lol who cares about inflation"

The real inflation numbers will shock you. The CPI was intentionally used (and is intentionally kept low) to hide what the real numbers are. We haven't felt the brunt of it because the costs are well hidden, as well as a lot of the increase in prices of consumer goods have been offset by better and cheaper technology and cheaper goods from China. But that can only last so long.

Real inflation (medical, education, housing costs included) is somewhere between 7%-13%. Social security and other things that rely on growing with inflation are actually being stolen from. Real income growth has actually gone down by a huge margin. In reality, if people knew the real inflation rates, the whole economic system would come to a halt.

Don't let the cronies in either party deter you away from the problem of inflation. It's probably the biggest way the government leeches money from you.
 
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Hadron90 said:
Liberals: Wow, the cost of housing, medical care, healthy food, tuition, utilities, and transportation is rising at alarming rates!
Also liberals: Inflation is a myth.
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This isn't reality. Trump kept the faucet wide open during his whole term even when we weren't in a crisis. Obama only open it up for the housing crisis and monetary policies under democratic presidents is much more long term in planning. Reagan boosted the economy with massive deficits. Bush Jr gave us a recession two wars, Trump gave use record deficits year after year and even made huge tax cuts during this.
 
And yet if the Democrats were to say tax Wall Street or companies at a higher rate, these same people would say that it's unnecessary. They are fucking clowns.

On the front end, everything the guest is saying is completely true about what's happening with these stimulus dollars and where they ultimately will end up. And it's going to take years for the markets to absorb this money. We still haven't fully absorbed the stimulus from the Global Fiscal Crisis. Add in the pandemic stimulus and we're talking a decade plus before even the markets can absorb it all.

So back to my primary point - If what the guest says is correct (and it is), the proper solution is not to leave the American public struggling without assistance. The proper solution is to tax where the money is going to end up after it cycles through the economy and that is at the corporate level and Wall Street.
 
Scheme said:
"Housing is too expensive!!! Why can't millenials afford houses???"
"Lol who cares about inflation"

The real inflation numbers will shock you. The CPI was intentionally used (and is intentionally kept low) to hide what the real numbers are. We haven't felt the brunt of it because the costs are well hidden, as well as a lot of the increase in prices of consumer goods have been offset by better and cheaper technology and cheaper goods from China. But that can only last so long.

Real inflation (medical, education, housing costs included) is somewhere between 7%-13%. Social security and other things that rely on growing with inflation are actually being stolen from. Real income growth has actually gone down by a huge margin. In reality, if people knew the real inflation rates, the whole economic system would come to a halt.

Don't let the cronies in either party deter you away from the problem of inflation. It's probably the biggest way the government leeches money from you.
Click to expand...

I would say that it is more complicated than leeching money from you. Most people aren't sitting on massive piles of money. What inflation does is give people who first get it an opportunity to spend it without causing feeling the effects of inflation. If someone borrows a billion dollars from the fed and spends it, the prices of everything don't immediately adjust. He is able spend money that doesn't account for inflation and thereby get a discount on everything. The reason in my opinion why housing is going up in the midst of a recession is due to low interest rates and a desire among the wealthy to invest in thing that are recession proof. The market is bloated as it is with a lot of companies having very skewed price to earnings ratios that don't make any sense. There is way too much money that was thrown into the market due to monetary inflation and even Warren Buffet is side stepping into real estate.
 
Prefect said:
This isn't reality. Trump kept the faucet wide open during his whole term even when we weren't in a crisis. Obama only open it up for the housing crisis and monetary policies under democratic presidents is much more long term in planning. Reagan boosted the economy with massive deficits. Bush Jr gave us a recession two wars, Trump gave use record deficits year after year and even made huge tax cuts during this.
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The tax cuts are completely meaningless compared to the amount of money printed by the fed in 2020. Anytime the government increases spending is the issue. And given neither party has any backbone to decrease it we will continue to experience skyrocketing cost of living.
 
Prefect said:
I would say that it is more complicated than leeching money from you. Most people aren't sitting on massive piles of money. What inflation does is give people who first get it an opportunity to spend it without causing feeling the effects of inflation. If someone borrows a billion dollars from the fed and spends it, the prices of everything don't immediately adjust. He is able spend money that doesn't account for inflation and thereby get a discount on everything. The reason in my opinion why housing is going up in the midst of a recession is due to low interest rates and a desire among the wealthy to invest in thing that are recession proof. The market is bloated as it is with a lot of companies having very skewed price to earnings ratios that don't make any sense. There is way too much money that was thrown into the market due to monetary inflation and even Warren Buffet is side stepping into real estate.
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The market is bloated because the fed is injecting money into it. Fed prints money and loans it to banks, banks mainly loan it to businesses, as well as people's mortgages and healthcare and education. The skyrocketing costs in every relevant sector is mainly a result of the proximity of the federal reserve money printed to the sector itself.
 
badascan said:
Everyone is surprised that the cost of mcdonald's seems high and lumber and houses and rent and sports cards and... And... Maybe it's the buying power of the dollar that's changed?
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Our local Home Depot placed a black sharpie mark on all of the prices for lumber. Walking around there reminds me of going to a restaurant and seeing "ask about the market price" for some seafood items.
 
Apparently printing lots of money doesn't cause inflation because Tucker Carlson said it and Tucker Carlson is the devil.

Or you know, you could use common sense when it comes to economics and realize that it is inevitable with all the printing and spending that is going on right now. Most of it is completely unnecessary and going into the hands of people who don't need it anyway.
 
monster zero said:
You have billionaires investing in bitcoin, a digital currency you can't even spend at 7-11, and the price of one has gone from 5,000 usd to 60,000 usd for one in a single year. You don't see that as an alarm bell?

Digital basketball cards are selling for thousands because the wealthy are looking for ANYTHING instead of the USD to store value. You fucking dumb plebs think the USD can handle another year of lock down and 10 trillion in spending?

Your savings account was devalued by thousands this year. You haven't noticed because unemployed haven't rejoined the labor force. This time bomb of inflation fuse is lit. Gas is already soaring though...
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Jokes on them. I don't have a savings account with any money in it. I'm too F`ing poor to keep money there.

wait, maybe the jokes on me. :oops:
 
If anyone actually believes that hyperinflation is coming, there are ways to position yourself to profit off it. You can actually make a real killing if you're right. But no one's doing that because it's not a real belief, in the sense of something that people actually think reflects reality.
 
So it's 2.2 trillion over 8 fucking years? Weaksauce, calling this shit ''green new deal'' is laughable. To put this into perspective China spends significantly more than that yearly just on transport infrastructure lol, and this is supposedly an all encompassing bill that addresses infrastructure and clean energy? Malarkey overload.
 
panamaican said:
And yet if the Democrats were to say tax Wall Street or companies at a higher rate, these same people would say that it's unnecessary. They are fucking clowns.

On the front end, everything the guest is saying is completely true about what's happening with these stimulus dollars and where they ultimately will end up. And it's going to take years for the markets to absorb this money. We still haven't fully absorbed the stimulus from the Global Fiscal Crisis. Add in the pandemic stimulus and we're talking a decade plus before even the markets can absorb it all.

So back to my primary point - If what the guest says is correct (and it is), the proper solution is not to leave the American public struggling without assistance. The proper solution is to tax where the money is going to end up after it cycles through the economy and that is at the corporate level and Wall Street.
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If the tax rate was 100% would it match this one proposed bill
 
panamaican said:
That question doesn't make any sense.
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Last proposed bill they were talking about was 10 trillion dollars. If we text all those corporations that you're complaining about getting a break, even though our rates are about the same as most of europe, would it even begin to cover that 10 trillion?
 
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