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

Rod1 said:
Sure, but low unemployment and recovering lost jobs is far more important than controlling inflation at this point.
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Yea, I would agree you would rather overshoot then undershoot on recovery efforts if presented with those two options.
 
Diogenes of Sinope said:
Life was 100x better back then.

economy was great
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Trump added 40% to the US debt to give tax breaks to billionaires and coporations. He did this during a booming economy when he could have been filling the piggy bank for down times. Trump was the opposite of sound fiscal policy.

This current inflation would happen no matter who is in the white house. It´s happening all over the world, not just in the US.
 
Prutfis said:
Trump added 40% to the US debt to give tax breaks to billionaires and coporations. He did this during a booming economy when he could have been filling the piggy bank for down times. Trump was the opposite of sound fiscal policy.

This current inflation would happen no matter who is in the white house. It´s happening all over the world, not just in the US.
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The majority of the debt came from COVID spending, not tax breaks.
 
Honestly didn't notice the inflation early on. Now though man it's getting crazy. Paid $34 just to fill up my gas tank. Used to be $20. Not a huge issue for me or anything but I can't even imagine people living paycheck to paycheck like I used to do.
 
Madmick said:
Explain to us again how you understand this stuff, Simple Jack.
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What's the issue? One month of a 6.2% YOY reading isn't hyperinflation or anything close, and that's likely the peak (what's going to happen when we lap the first bump? What do you think the Fed will do if higher-than-ideal inflation persists?). Nutters have been predicting hyperinflation basically non-stop since 2009 (with a four-year gap when they strangely stopped and supported more inflationary policies). Markets are always a better guide than partisan screeching. Such a weird way to converse, too. "Grrr, you predicted that there wouldn't be hyperinflation, and there's not hyperinflation, but inflation is up a bit--I'm so mad about that. Fuck you, Jack!!" Can't imagine a grown man acting the way you guys do.
 
Rob Battisti said:
His perfect 11-0 bet record is in danger.
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I don't think it's in much danger. If anyone else wants to make a similar bet (about the average over the next 12 months), I'm game. Also, I'm going to win a bet with some moron who thought Biden would die before January pretty soon. Worst-case scenario is that the Fed decides it's a legitimate concern and raises rates, which slows growth but also stops inflation. I don't think there's any plausible scenario where inflation itself becomes a problem.
 
Jack V Savage said:
I don't think it's in much danger. If anyone else wants to make a similar bet (about the average over the next 12 months), I'm game. Also, I'm going to win a bet with some moron who thought Biden would die before January pretty soon.
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That’s… a dumb bet! I may have bet something like Biden won’t win re-election unless running against Trump.
 
Rob Battisti said:
That’s… a dumb bet! I may have bet something like Biden won’t win re-election unless running against Trump.
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I think almost all of them were dumb bets, but the folks on the other side of them thought my end was a dumb bet. I think nothing is better for killing hackery than bets--people either reveal that they didn't really believe the shit they were saying or they stand behind crazy claims and it gets recorded.

I'll say that with regard to ours, I'm still in good shape, but inflation has gone a bit higher than I thought was likely. It's definitely possible that the fiscal-policy response was excessive, though I think it was right to err on the side of too much rather than too little (as we did after the GFC). There's also the weak comps and supply-chain issues (and note that it's a global issue, though many other countries had an inadequate fiscal response).

Ed: The bet was with The Scorpion, who is no longer with us. Still counts in the record, though. I also have one with someone who doesn't think Biden will last two years. Lots of people don't get that these partisan attacks are just a game, which is one reason I think it's so contemptible that people make them (that is, they're riling up morons who don't get what's going on).
 
Wadtucket said:
Wow @Jack V Savage got completely slaughtered ITT

What a shocker
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