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

Of course will have Republicans will guarantee it. Under MMT, and we are all MMTing now, you must raise taxes when inflationary effects start showing. Republicans will never raise taxes even on billionaires paying 3% or less.

https://www.theguardian.com/comment...illionaires-tax-returns-propublica-plutocracy

Exactly what the democrats want. To print an unheard of amount of money, pay people the same amount on unemployment as they'd get on the job market and then raise taxes to try and level everything. Then point the fingers at low tax rates across the board as if that's the problem.

We all want billionaires to pay more in taxes but they aren't going to pay much regardless because there is a loophole for everything. All you're advocating for is for the middle class to get their ass handed to them so they can stay on the status quo of people getting paid to not work and trillions being printed up so they can be wasted on democratic agendas. These guys don't get a check every month for a billion dollars with federal and state taxes taken out like you and I do. Their money is funneled in ways that avoid the basic tax rules that the rest of us abide by.

The smart thing would be to stop paying people to stay home so every business you drive by wouldn't need a "Now hiring" sign. Stop printing trillions of dollars during a pandemic for no reason other than people are now conditioned to it. Then start by closing up these tax loopholes that allow the rich to pay less than the middle class.

But that will never happen because it would require the rich to write and vote for policy that would make them less rich. It's a conflict of interest. Every other partisan argument about tax rates is just political drivel.
 
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.
You're arguing against a strawman here. If you Google "inflation is a myth" you literally get one "liberal" making that argument and the rest are apolitical posts specifically about 2% Bitcoin inflation being a myth. Can you show that this is actually a common belief among liberals/leftists? I'm on the left and I've literally never heard that before.
 
You're arguing against a strawman here. If you Google "inflation is a myth" you literally get one "liberal" making that argument and the rest are apolitical posts specifically about 2% Bitcoin inflation being a myth. Can you show that this is actually a common belief among liberals/leftists? I'm on the left and I've literally never heard that before.

Also false in that not all the items he listed are rising that much. But more than that, inflation is a general rise in prices. Some things becoming more expensive relative to other things can be a problem for some people, and a policy solution to that is different from a solution to inflation (which is generally not a problem anyway).
 


Housing is going to be awful soon enough. Big finance like Black Rock is buying houses for cash. I am from the DC area. My parents bought their house in 1987 for 147K or so. I looked at Red Fin now and my old house is worth 506K. No one will be able to afford housing. And The Hill is right, the govt solutions is more finance, which leads to more speculation and this leads to crazy housing bubbles.

We can agree on that much at least.

FWIW, I'm from the Boston area and live here now, but I moved to the D.C. area in 2004 not long after college and was there for a few years. And coming from Boston, it seemed really affordable to me at the time, and I'm sure it still is relative to Boston. I was able to easily afford to rent a large condo in a gated community with an in unit washer/dryer and nice amenities like a pool and a gym.

Your parents' house would be worth $750k-1 million in the Boston area. To get a single family in that price range in the Boston area, you'd only have a few options in some shitty suburbs like Revere or Everett. Definitely not more desirable suburbs like Cambridge, Arlington, Somerville, Watertown, Newton, Brookline, etc. The cheapest single family in my hometown of Cambridge is $825k. Next cheapest is $1,095,000.

It used to be that someone could come here from Ireland or Italy or the US South with nothing and work hard at a blue-collar job and afford to invest in a house. Those days are over. Fiscal conservatives and neoliberals blame the individual but it's clearly a systemic issue. Hopefully we can agree with that and work together to solve it whether we're aligned with the left or the right.
 
David Parkman is an economists graduated from college with a degree an has a pretty good look at spending vs inflation. He is discussing with Kevin who leans more right in spending an inflation position. By most accounts he seems to agree with David's opinion on inflation spending. It's worth a look if interested.


*Like*

That was an interesting conversation to listen to. I'm not a regular viewer of DP anymore but he definitely knows his stuff. I also used to watch Kevin a bit, although Graham Stephan was more my guy when it came to financial stuff on YouTube.
 
If you believe all the CDC claimed 600k US deaths were really all because of Covid and not with Covid, it’s not even 14bps. That’s around 7/10th of 1%. Saying 1% is a drastic overstatement.
Have we even factored asymptomatic cases into this stat? Because that would take it all to comically low levels....
 
Wait, so every metric of inflation confirms inflation, but the sherdog members who are porn afficiandos and/or stalk people who pose nude on beaces say otherwise? Colour me blind
 
We can agree on that much at least.

FWIW, I'm from the Boston area and live here now, but I moved to the D.C. area in 2004 not long after college and was there for a few years. And coming from Boston, it seemed really affordable to me at the time, and I'm sure it still is relative to Boston. I was able to easily afford to rent a large condo in a gated community with an in unit washer/dryer and nice amenities like a pool and a gym.

Your parents' house would be worth $750k-1 million in the Boston area. To get a single family in that price range in the Boston area, you'd only have a few options in some shitty suburbs like Revere or Everett. Definitely not more desirable suburbs like Cambridge, Arlington, Somerville, Watertown, Newton, Brookline, etc. The cheapest single family in my hometown of Cambridge is $825k. Next cheapest is $1,095,000.

It used to be that someone could come here from Ireland or Italy or the US South with nothing and work hard at a blue-collar job and afford to invest in a house. Those days are over. Fiscal conservatives and neoliberals blame the individual but it's clearly a systemic issue. Hopefully we can agree with that and work together to solve it whether we're aligned with the left or the right.
Let me start with saying that there are some that mess thing up for themselves. That said, the trend is that it is harder and harder to house yourself. There is a slew of reasons and it really started getting bad in the late 90s imho. Now it is out of control. It is spreading from the coastal areas to basically everywhere.

I got my first apartment in Gaithersburg in 2004. Didn't have a washing machine, but did have a crappy pool. Was $809 a month. Had a roommate and we could afford it pretty easily. Back then making 30K a year was all you needed to live decently on your own. Funny how that was cheap for you. Boston is ridiculous then. The DC is pretty awful, and you are saying Boston is worse. Man, that just sucks.
BTW my parents house is way out and living there would be awful due to congestion. You'd have an hour long commute each way for a close job.
Now with college, you are not working and putting yourself in to debt. That could be 4 years of living at home and saving half your money. At 22, you could have 40K saved up and have bought a decent used car. Ready to start life. Which would fit in how immigrants did things a century ago. Now, you go tot college take on 60K debt min, and start a job making 30k now. It is a broken system that is also being abused by house flippers and PE.

Also it seems that most my college friends started moving away in 03 or so. By 2014, I had very few friends still in the DC area, that I knew in 00-04. Basically everyone was priced out and felt it wasn't worth living there anymore. Even my high school, I looked some people up on facebook, most everyone is in NC, Florida and Texas now. Really sad that the area I grew up in now has nothing left, it is def one of those you can't go home again
 
https://www.cnn.com/2021/08/10/business/raises-inflation-wages/index.html

New York (CNN Business)Companies big and small are raising wages to attract workers and hold onto employees as the economy revs back into gear.

But those fatter paychecks aren't going as far, thanks to rising inflation.

In fact, compensation is now lower than it was in December 2019, when adjusted for inflation, according to an analysis by Jason Furman, an economics professor at Harvard University.

The Employment Cost Index — which measures wages and salaries, along with health, retirement and other benefits — fell in the last quarter and is 2% below its pre-pandemic trend, when taking inflation into account. (Wages and salaries are growing at a faster pace than benefits.)

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As predicted and shared to you all previously.

As we print / spend and magically create more dollars, they are worth less and less. Inflation is a hidden but huge tax on the Poor and Middle Class.

Spend those trillions!!!! It only gets worse.
 
Consumer price index goes up 2-3% and my raise is 1-2%, not hard to figure out I'm losing ground.

I don't believe that index is an accurate indicator. Everything seems more expensive now except food; rental cars here are up 400%, new cars and expensive naive because of a "chip shortage", gas, I was looking at airline tickets for December and they are twice as much as I have ever seen them before.
 
I don't believe that index is an accurate indicator. Everything seems more expensive now except food; rental cars here are up 400%, new cars and expensive naive because of a "chip shortage", gas, I was looking at airline tickets for December and they are twice as much as I have ever seen them before.

Can't argue that. Certainly the index is more likely to underestimate inflation rather than overestimate. Can't remember anyone ever saying their rent went down. :D
 
I don't believe that index is an accurate indicator. Everything seems more expensive now except food; rental cars here are up 400%, new cars and expensive naive because of a "chip shortage", gas, I was looking at airline tickets for December and they are twice as much as I have ever seen them before.

Property is fast exceeding the index.... Both buying and rentals...

Hold on to your britches when these retarded eviction mandates are allowed to expire.
 
Some companies will be cutting back on wages for those that work at home, rather than come back to the office.
 

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