This is a potentially huge crisis in the making.
Our “leaders” have been deficit spending like drunken sailors for well over 10 years, enabled by low interest rates.
Now those interest rates are necessarily spiraling upwards to combat all this delayed-onset inflation. Higher rates will make servicing the debt into a huge burden.
But political interests are not going to settle for less government money. They don’t care if the current overall spending is unsustainable. They are on contractor welfare.
So we may get to enjoy higher taxes in addition to ever increasing prices at the store.
Where’s Geeze and another “Thanks Joe” thread?
Scan down to the chart in this link…
Maybe I missed something, but isn’t 3.7 better than 8?
3.7% is a lot.
The Fed’s dumbass “target” of 2% is a lot, because it adds up over time, and wages always lag consumer price increases.
Inflation is a tax on the poor and turns poor people into welfare queens and homeless.
Saying it’s fine because it’s not something ridiculously extreme like 8% is the height of tone deafness.
Not for Biden, but comparing his handling of inflation to other presidents you have to go all the way back to Carter for it to be this bad. All Hail Biden.
Biden’s doing a great job on inflation and the economy, just ask any lefty here.
thata’s not what I asked. I asked if 3.7 is better than 8. That would look like it slowed, which should be welcome news. I guess it isn’t though
you actually have to go back to Nixon. Yep…it was high under carter…but you know something? He put a guy in charge of the Fed who raised interest rates (like what has been happeining). And a funny thing happened. Carter was voted out, but not Volker. And the inflation rate started to drop…not because of Reagan’s tax cuts but because of Carter putting the country first.l He could have issued more WIN buttons, but instead he decided to accept the brunt of the “short term pain” that no politician these days seems to want to accept. Bash Carter all you want, but had he not done what he did, Reagan sure as hell wouldn’t have done it instead.
Nope. Look at the link I posted above.
Yes…it’s a different way of saying that inflatin, that was predicted my many on this board to be 15% dropped from 8 to 3.7 and that’s a bad thing. And you mentioned Carter. Just pointing out that since 1970, Democrats have been the only ones to do anything to tame inflation.
A 50% on your test is still failing even if it is better than the 30% you got on the previous test.
We renew annual car and homeowner insurance this month. 23% auto and 25% home increases. No claims.
The majority mentally challenged here won’t be satisfied until the fed squeezes the economy so tight that a recession is ensured. Then they can claim the Democrats brought on a recession, just like the GOP has usually done in the past. Most, or all, of the world’s major economies would be celebrating if their inflation rate came close to ours.
The reason the Fed is involved is because of Biden’s huge failure on the economy. Your team is losing and you’ve got a boner because they are only down by 20 points instead of 21.
It is like celebrating when you cover the spread.
Yes except they aren’t even doing that.
Imagine already living paycheck to paycheck and getting huge premium increases like that on top of Bidenflation on gas, rent, groceries, etc. I don’t see why Geeze, KC, Beemer and other lefties here are celebrating.
To be fair…Geezer doesn’t really understand economics…about on the same level as Biden.
Helluva technique…do you use it with your kids? Rather than acknowledging their improvement but saying there is still more work to do, you just say “you’re still failing you dumb fuck”