Biden blames everyone else for inflation
-
I think the snowball of inflation was already heading downhill by the time Biden took over but he certainly hasn't done anything substantive to try and stop its velocity or growth. If Trump had won the election he'd also have a pile of inflation at his feet, but I bet he would've done more drastic measures to try and contain it.
@89th said in Biden blames everyone else for inflation:
If Trump had won the election he'd also have a pile of inflation at his feet
Really? I don't think so.
As Mik said, he wouldn't have approved the stimulus. The supply chain bottleneck would never have occurred. 13 servicemen would still be alive. Gas would still be around 2 bucks.
It would have been another year of "winning". Totally different than the last 10 months.
We have the freedom to choose our actions, but we do not get to choose our consequences.
Yes, there are two paths you can go by, but in the long run, there's still time to change the road you're on. -
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
-
The administration's response has been very juvenile. "It's the greedy companies fault!" As if now is the moment that they've chosen from the last couple of decades to get greedy.
That said - between the constant supply of new money, supply constrains, and high savings in certain demographics and continued economic growth - it's not surprising that there's inflation right now. (But it's not obvious either - a lot of those factors were already in place for years)
-
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
-
@89th said in Biden blames everyone else for inflation:
If Trump had won the election he'd also have a pile of inflation at his feet
Really? I don't think so.
As Mik said, he wouldn't have approved the stimulus. The supply chain bottleneck would never have occurred. 13 servicemen would still be alive. Gas would still be around 2 bucks.
It would have been another year of "winning". Totally different than the last 10 months.
@improviso said in Biden blames everyone else for inflation:
@89th said in Biden blames everyone else for inflation:
If Trump had won the election he'd also have a pile of inflation at his feet
Really? I don't think so.
As Mik said, he wouldn't have approved the stimulus. The supply chain bottleneck would never have occurred. 13 servicemen would still be alive. Gas would still be around 2 bucks.
Betty White would still be alive....Boris Johnson wouldn't have the stupidest haircut....
-
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
-
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
That’s great…I’m probably 10-15 years closer to retirement than you, but I’ve got time to make some adjustments, too. Now, what about those guys 10 years closer to retirement than me? And more, what about those that are already retired? That’s not a small number of people.. And the benefits of inflation will not lead to any meaningful quality of life improvements for those that are in a position to shift their investment plans.
-
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
That’s great…I’m probably 10-15 years closer to retirement than you, but I’ve got time to make some adjustments, too. Now, what about those guys 10 years closer to retirement than me? And more, what about those that are already retired? That’s not a small number of people.. And the benefits of inflation will not lead to any meaningful quality of life improvements for those that are in a position to shift their investment plans.
@lufins-dad said in Biden blames everyone else for inflation:
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
That’s great…I’m probably 10-15 years closer to retirement than you, but I’ve got time to make some adjustments, too. Now, what about those guys 10 years closer to retirement than me? And more, what about those that are already retired? That’s not a small number of people.. And the benefits of inflation will not lead to any meaningful quality of life improvements for those that are in a position to shift their investment plans.
No, you're right - many will be hit hard. Rising costs without a rise in income is tough.
But I do think there has been a huge uptick in household debt (as % of income or GDP) since the last time there was a lot of inflation. (e.g., rising mortgage costs, student debt, credit card debt, etc.)
I'm curious how that will change the picture this time if inflation persists.
-
@lufins-dad said in Biden blames everyone else for inflation:
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
That’s great…I’m probably 10-15 years closer to retirement than you, but I’ve got time to make some adjustments, too. Now, what about those guys 10 years closer to retirement than me? And more, what about those that are already retired? That’s not a small number of people.. And the benefits of inflation will not lead to any meaningful quality of life improvements for those that are in a position to shift their investment plans.
No, you're right - many will be hit hard. Rising costs without a rise in income is tough.
But I do think there has been a huge uptick in household debt (as % of income or GDP) since the last time there was a lot of inflation. (e.g., rising mortgage costs, student debt, credit card debt, etc.)
I'm curious how that will change the picture this time if inflation persists.
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
That’s great…I’m probably 10-15 years closer to retirement than you, but I’ve got time to make some adjustments, too. Now, what about those guys 10 years closer to retirement than me? And more, what about those that are already retired? That’s not a small number of people.. And the benefits of inflation will not lead to any meaningful quality of life improvements for those that are in a position to shift their investment plans.
No, you're right - many will be hit hard. Rising costs without a rise in income is tough.
But I do think there has been a huge uptick in household debt (as % of income or GDP) since the last time there was a lot of inflation. (e.g., rising mortgage costs, student debt, credit card debt, etc.)
I'm curious how that will change the picture this time if inflation persists.
If I had any debt, I'd let you know. I'm more worried about a fixed income vs. inflation.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
-
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
That’s great…I’m probably 10-15 years closer to retirement than you, but I’ve got time to make some adjustments, too. Now, what about those guys 10 years closer to retirement than me? And more, what about those that are already retired? That’s not a small number of people.. And the benefits of inflation will not lead to any meaningful quality of life improvements for those that are in a position to shift their investment plans.
No, you're right - many will be hit hard. Rising costs without a rise in income is tough.
But I do think there has been a huge uptick in household debt (as % of income or GDP) since the last time there was a lot of inflation. (e.g., rising mortgage costs, student debt, credit card debt, etc.)
I'm curious how that will change the picture this time if inflation persists.
If I had any debt, I'd let you know. I'm more worried about a fixed income vs. inflation.
@jolly said in Biden blames everyone else for inflation:
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@xenon said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
@jolly said in Biden blames everyone else for inflation:
@lufins-dad said in Biden blames everyone else for inflation:
You guys are acting like the inflation isn’t a goal of this administration, it absolutely is. Increasing gas prices helps promote the renewable energy plans they have. High inflation makes both the elderly and the poor more dependent on government largesse. Massively increasing wages allows the administration to point towards an accomplishment. And devaluing the dollar devalues the debt. The inflation isn’t just an accidental consequence of the pandemic, it’s an opportunity that they are fully embracing.
Don't forget...Inflation means the debt is technically less.
That’s what I meant by devaluing the dollar devalues the debt.
I've said it before. I'm completely ok so far with inflation. I'm just throwing savings into assets that will hopefully keep appreciating. My income will hopefully keep up with inflation
And given where I am in life (big debt with low fixed rates - my mortgage)... inflation reduces my debt.
That’s great…I’m probably 10-15 years closer to retirement than you, but I’ve got time to make some adjustments, too. Now, what about those guys 10 years closer to retirement than me? And more, what about those that are already retired? That’s not a small number of people.. And the benefits of inflation will not lead to any meaningful quality of life improvements for those that are in a position to shift their investment plans.
No, you're right - many will be hit hard. Rising costs without a rise in income is tough.
But I do think there has been a huge uptick in household debt (as % of income or GDP) since the last time there was a lot of inflation. (e.g., rising mortgage costs, student debt, credit card debt, etc.)
I'm curious how that will change the picture this time if inflation persists.
If I had any debt, I'd let you know. I'm more worried about a fixed income vs. inflation.
It tempts one to borrow against real estate if I wasn't so damn dead set against debt.
