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  3. Inflation

Inflation

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  • George KG George K

    @jon-nyc said in Inflation:

    Ratner’s right, but of course I’d say that because he’s making my point.

    But @George-K 15 months is a bit of a cherry pick since gas prices plummeted in Q220 due to covid

    Yes, and the rise in printed dollars antedates the Biden administration as well to some extent. I'm sure that didn't help.

    But to address your point as to "cherry-picking" the 5 year timeline is somewhat different (and we can ignore that "Putin spike" for the sake of discussion).

    Screen Shot 2022-03-10 at 6.46.43 PM.png

    The Trump peak is in May 2025 at about $3.00/gallon.

    The pre-Putin peak under the Biden administration is about $3.35, 10% higher. Inflation for the year is now 7.5%.

    As you know, gas prices are only one factor, and a major one, in the cost of living.

    I saw another chart today (correlation is not causation, of course) showing the rise of money available compared with inflation.

    Screen Shot 2022-03-10 at 6.53.18 PM.png

    jon-nycJ Online
    jon-nycJ Online
    jon-nyc
    wrote on last edited by
    #89

    @George-K said in Inflation:

    Yes, and the rise in printed dollars antedates the Biden administration as well to some extent. I'm sure that didn't help.

    To some extent? Almost entirely. The vast majority of dollars that have ever existed were ‘printed’ during the Trump administration.

    ETA: of the ~21T dollars in existence, ~15T were printed on Trump’s watch.

    Only non-witches get due process.

    • Cotton Mather, Salem Massachusetts, 1692
    LarryL 1 Reply Last reply
    • jon-nycJ jon-nyc

      @George-K said in Inflation:

      Yes, and the rise in printed dollars antedates the Biden administration as well to some extent. I'm sure that didn't help.

      To some extent? Almost entirely. The vast majority of dollars that have ever existed were ‘printed’ during the Trump administration.

      ETA: of the ~21T dollars in existence, ~15T were printed on Trump’s watch.

      LarryL Offline
      LarryL Offline
      Larry
      wrote on last edited by Larry
      #90

      @jon-nyc said in Inflation:

      @George-K said in Inflation:

      Yes, and the rise in printed dollars antedates the Biden administration as well to some extent. I'm sure that didn't help.

      To some extent? Almost entirely. The vast majority of dollars that have ever existed were ‘printed’ during the Trump administration.

      ETA: of the ~21T dollars in existence, ~15T were printed on Trump’s watch.

      Oh bull shit. You actually want us to believe that the massive debt the democrats ran up wasn't connected ?

      There was a pandemic. The threat of a complete economic collapse was real. Money was thrown at it. Now - who was it that created most of the wild eyed bulls shit that drove that? Fucking democrats. Then who was it that wanted to keep on handing out money like candy even after it was determined the handouts were being wasted and weren't helping?? Fucking democrats. Yet you want to drop that all on Trump as if he was the bad guy. I refuse to believe you're that stupid.

      1 Reply Last reply
      • jon-nycJ Online
        jon-nycJ Online
        jon-nyc
        wrote on last edited by
        #91

        I’m not really “dropping it all on Trump” rather I’m exposing the facile partisan explanations in this thread.

        I talked more broadly about the causes of inflation in another thread about a week ago.

        Only non-witches get due process.

        • Cotton Mather, Salem Massachusetts, 1692
        George KG 1 Reply Last reply
        • jon-nycJ jon-nyc

          I’m not really “dropping it all on Trump” rather I’m exposing the facile partisan explanations in this thread.

          I talked more broadly about the causes of inflation in another thread about a week ago.

          George KG Offline
          George KG Offline
          George K
          wrote on last edited by
          #92

          @jon-nyc interesting that the number of circulating dollars rose at a pretty slow pace until the pandemic really hit in spring of 2020. After that spike, however, the pace exceeds the historical rate of rise.

          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

          jon-nycJ 1 Reply Last reply
          • George KG George K

            @jon-nyc interesting that the number of circulating dollars rose at a pretty slow pace until the pandemic really hit in spring of 2020. After that spike, however, the pace exceeds the historical rate of rise.

            jon-nycJ Online
            jon-nycJ Online
            jon-nyc
            wrote on last edited by jon-nyc
            #93

            @George-K

            Yeah, though maybe it’s slowing a bit in the past months? We’ll see how the fed moves on interest rates affect it

            A66BC935-C2CA-4254-935E-439DBA37212F.png

            Only non-witches get due process.

            • Cotton Mather, Salem Massachusetts, 1692
            1 Reply Last reply
            • JollyJ Offline
              JollyJ Offline
              Jolly
              wrote on last edited by
              #94

              Jon has forgotten a few things...IIRC, the first big round of quantitative easing (the Fed creating digital dollars) was done by the Obama Administration during the recession and bank crisis, trying to keep banks afloat and interest rates low. You know, banks to big to fail, and all that jazz.

              Trump's Administration saw a lot of digital dollars created. We had this little ChiCom COVID pandemic that was causing a bit of problem in the economy. I think the first stimulus was probably needed. I don't think any subsequent monies were. Regardless the Fed didn't create money at any faster rate than the European Central Bank or many other large institutions.

              And then, along came Joe...Joe dumped another stimulus bill on us, one we didn't really need. It's fun to go through that bill and look at how many disincentives there are for American people working. But hey, votes ain't cheap. And would have dumped another huge supplemental spending bill on us, except a few members of his own party balked. Couple all the spending with a disastrous energy policy...Nah, that's too kind...Couple all that with an absolutely fucking nuts energy policy that Putin and Xi must have co-written, and we have record, generation-screwing inflation.

              People ought to be working their butts off, trying to make more money to keep up with the Inflation Tiger. But they ain't. Maybe they got used to not working as hard during the lockdowns. Maybe it's because Mr. Biden's stimulus bill is paying some people enough, they don't have to work.

              Regardless, the MSM ballyhoos the Unemployment Rate. What they don't tell you is the percentage of people no longer looking for a job. If you look at our Employment Percentage Rate , it's in the low 60's, which is quite bad.

              No, The Resident put the cherry on the topping of this mess and he owns it. Maybe that's why the GOP is up 11 points over the Dems in the Generic....

              “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

              1 Reply Last reply
              • MikM Offline
                MikM Offline
                Mik
                wrote on last edited by
                #95

                My greatest disappointment in the Trump administration is it did not tackle spending,

                “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                LuFins DadL 1 Reply Last reply
                • HoraceH Online
                  HoraceH Online
                  Horace
                  wrote on last edited by Horace
                  #96

                  Would a Clinton administration have done a worse job of it, same, better, or impossible to know or speculate reasonably?

                  (This question will go unanswered by Clinton voters.)

                  Education is extremely important.

                  jon-nycJ CopperC 2 Replies Last reply
                  • HoraceH Horace

                    Would a Clinton administration have done a worse job of it, same, better, or impossible to know or speculate reasonably?

                    (This question will go unanswered by Clinton voters.)

                    jon-nycJ Online
                    jon-nycJ Online
                    jon-nyc
                    wrote on last edited by
                    #97

                    @Horace Probably would have been quite similar. I voted for Hilary 5 times.

                    Only non-witches get due process.

                    • Cotton Mather, Salem Massachusetts, 1692
                    HoraceH JollyJ 2 Replies Last reply
                    • jon-nycJ jon-nyc

                      @Horace Probably would have been quite similar. I voted for Hilary 5 times.

                      HoraceH Online
                      HoraceH Online
                      Horace
                      wrote on last edited by
                      #98

                      @jon-nyc said in Inflation:

                      @Horace Probably would have been quite similar. I voted for Hilary 5 times.

                      Thanks jon.

                      Education is extremely important.

                      1 Reply Last reply
                      • jon-nycJ Online
                        jon-nycJ Online
                        jon-nyc
                        wrote on last edited by
                        #99

                        Oh, and the inflation we’re seeing now would have been quite similar had Trump not lost in a landslide.

                        Only non-witches get due process.

                        • Cotton Mather, Salem Massachusetts, 1692
                        LarryL 2 Replies Last reply
                        • jon-nycJ jon-nyc

                          @Horace Probably would have been quite similar. I voted for Hilary 5 times.

                          JollyJ Offline
                          JollyJ Offline
                          Jolly
                          wrote on last edited by
                          #100

                          @jon-nyc said in Inflation:

                          @Horace Probably would have been quite similar. I voted for Hilary 5 times.

                          In the same election? Vote early and vote often?

                          “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

                          1 Reply Last reply
                          • MikM Mik

                            My greatest disappointment in the Trump administration is it did not tackle spending,

                            LuFins DadL Offline
                            LuFins DadL Offline
                            LuFins Dad
                            wrote on last edited by
                            #101

                            @Mik said in Inflation:

                            My greatest disappointment in the Trump administration is it did not tackle promulgated spending,

                            FIFY, no need to thank me.

                            https://docs.google.com/viewer?url=https%3A%2F%2Fwww.whitehouse.gov%2Fwp-content%2Fuploads%2F2021%2F05%2Fhist01z1_fy22.xlsx

                            The Brad

                            1 Reply Last reply
                            • HoraceH Horace

                              Would a Clinton administration have done a worse job of it, same, better, or impossible to know or speculate reasonably?

                              (This question will go unanswered by Clinton voters.)

                              CopperC Offline
                              CopperC Offline
                              Copper
                              wrote on last edited by Copper
                              #102

                              @Horace said in Inflation:

                              Would a Clinton administration have done a worse job of it, same, better, or impossible to know or speculate reasonably?

                              She would have invaded Ukraine long before Mr. Putin.

                              We would probably have annexed Moscow by now.

                              1 Reply Last reply
                              • jon-nycJ jon-nyc

                                Oh, and the inflation we’re seeing now would have been quite similar had Trump not lost in a landslide.

                                LarryL Offline
                                LarryL Offline
                                Larry
                                wrote on last edited by
                                #103

                                @jon-nyc said in Inflation:

                                Oh, and the inflation we’re seeing now would have been quite similar had Trump not lost in a landslide.

                                Trump didn't lose in a landslide. He didn't win, but there are several reasons for that. But to say he lost in a landslide is just plain stupid.

                                1 Reply Last reply
                                • jon-nycJ jon-nyc

                                  Oh, and the inflation we’re seeing now would have been quite similar had Trump not lost in a landslide.

                                  LarryL Offline
                                  LarryL Offline
                                  Larry
                                  wrote on last edited by
                                  #104

                                  @jon-nyc said in Inflation:

                                  Oh, and the inflation we’re seeing now would have been quite similar had Trump not lost in a landslide.

                                  Oh - and had the democrats not managed to swing the votes in a few key areas just enough for the geriatric criminal who squeaked into office by the skin of his dentures, you crazy democrats would be blaming the inflation on Trump.

                                  1 Reply Last reply
                                  • taiwan_girlT Offline
                                    taiwan_girlT Offline
                                    taiwan_girl
                                    wrote on last edited by
                                    #105

                                    In the last 60 years, the US share of the world economy has almost gone down by half - from a little over 40% to almost 20% now.

                                    Obviously, still the biggest economy, but there are so many external things happening around the world (both good and bad) which will effect US inflation, etc.

                                    As a famous unknown forum poster has pointed out, "the US president gets too much praise and too much blame for the economy". 😂

                                    George KG 1 Reply Last reply
                                    • taiwan_girlT taiwan_girl

                                      In the last 60 years, the US share of the world economy has almost gone down by half - from a little over 40% to almost 20% now.

                                      Obviously, still the biggest economy, but there are so many external things happening around the world (both good and bad) which will effect US inflation, etc.

                                      As a famous unknown forum poster has pointed out, "the US president gets too much praise and too much blame for the economy". 😂

                                      George KG Offline
                                      George KG Offline
                                      George K
                                      wrote on last edited by
                                      #106

                                      @taiwan_girl said in Inflation:

                                      In the last 60 years, the US share of the world economy has almost gone down by half - from a little over 40% to almost 20% now.

                                      I'd guess that it was a pretty different world in 1962 than it is today.

                                      I get your point, and I don't even disagree. But, I'd say that the post-war era, which probably extends at least 20 year, was a remarkably different world than we have today.

                                      Oh, and China is an asshole, by the way.

                                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                      taiwan_girlT 1 Reply Last reply
                                      • George KG George K

                                        @taiwan_girl said in Inflation:

                                        In the last 60 years, the US share of the world economy has almost gone down by half - from a little over 40% to almost 20% now.

                                        I'd guess that it was a pretty different world in 1962 than it is today.

                                        I get your point, and I don't even disagree. But, I'd say that the post-war era, which probably extends at least 20 year, was a remarkably different world than we have today.

                                        Oh, and China is an asshole, by the way.

                                        taiwan_girlT Offline
                                        taiwan_girlT Offline
                                        taiwan_girl
                                        wrote on last edited by
                                        #107

                                        @George-K I agree with you.

                                        But, there seems to be a "perception" that if the US economy is good, it is strictly due to the actions of the US president AT THAT MOMENT.

                                        If the US economy is bad, it is strictly due to the actions of the US president AT THAT MOMENT.

                                        (Of course, some of the above depends on if your side president is in power).

                                        Example: 2020 was one of the worst economy years on record. President Trumps fault? Of course not. Many many things outside his control. Situation would probably have been the same if Sec. Clinton had won the president.

                                        2022 Inflation. President Bidens fault? Mostly not. (Thailand is experiencing worst inflation in 17 years for example). In big picture, situation would have been similar if President Trump won election.

                                        (I AM NOT SAYING THE US PRESIDENT HAS NO IMPACT ON ECONOMY, BUT I BELIEVE IT IS OVER SAID)

                                        George KG 1 Reply Last reply
                                        • taiwan_girlT taiwan_girl

                                          @George-K I agree with you.

                                          But, there seems to be a "perception" that if the US economy is good, it is strictly due to the actions of the US president AT THAT MOMENT.

                                          If the US economy is bad, it is strictly due to the actions of the US president AT THAT MOMENT.

                                          (Of course, some of the above depends on if your side president is in power).

                                          Example: 2020 was one of the worst economy years on record. President Trumps fault? Of course not. Many many things outside his control. Situation would probably have been the same if Sec. Clinton had won the president.

                                          2022 Inflation. President Bidens fault? Mostly not. (Thailand is experiencing worst inflation in 17 years for example). In big picture, situation would have been similar if President Trump won election.

                                          (I AM NOT SAYING THE US PRESIDENT HAS NO IMPACT ON ECONOMY, BUT I BELIEVE IT IS OVER SAID)

                                          George KG Offline
                                          George KG Offline
                                          George K
                                          wrote on last edited by
                                          #108

                                          @taiwan_girl said in Inflation:

                                          Example: 2020 was one of the worst economy years on record. President Trumps fault? Of course not. Many many things outside his control. Situation would probably have been the same if Sec. Clinton had won the president.

                                          Trump wasn't president until January 2021.

                                          2022 Inflation. President Bidens fault? Mostly not. (Thailand is experiencing worst inflation in 17 years for example). In big picture, situation would have been similar if President Trump won election.

                                          US inflation is highest in 40 years.

                                          (I AM NOT SAYING THE US PRESIDENT HAS NO IMPACT ON ECONOMY, BUT I BELIEVE IT IS OVER SAID)

                                          Yes, it's overstated, and as @jon-nyc said, there's a correlation between the infusion of funds and inflation, with a delay of months/years.

                                          But, perception is what determines elections, and since this has happened on Biden's watch, this is what voters will probably remember.

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          jon-nycJ 1 Reply Last reply
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