Inflation

[George K]

[taiwan_girl]

@taiwan_girl said in Inflation:

@george-k said in Inflation:

I think that the US should get rid of the one dollar bill. I know that they have tried to promote the USD$1 coin, but unless you give more of an incentive, it will not work.

I agree. If the US is going to promote a USD $1 coin, they need to stop printing the USD $1 paper money.

In Europe, I think the smallest bill is about USD $5. In Taiwan, it is about $3 USD.

(One country that keeps really small denomination bills is India. And they keep them for a long long time. The money can be quite tattered and dirty and still in use)

[89th]

@George-K said in Inflation:

@Jolly said in Inflation:

That's a great clown pic.

I got yer great clown right here:

This is all silly, and a perfect example of a biased news org debating a biased politician. In other words, gas prices are going up because of both factors. But Doocy wants to make it seem like it's Biden-only, and Psaki wants to make it seem like it's Putin-only. These are reasons I don't really watch news or press conferences, it's all spin.

[jon-nyc]

@George-K said in Inflation:

@Mik said in Inflation:

@George-K perfect.

Psaki actually had the (pardon the expression) balls to blame the surge in gas prices on the Ukrainian situation.

Certainly that’s true of the rather significant jump in the last week

[George K]

@jon-nyc fair enough. A 60¢ rise in the last weeks.

But that's still only ¼ the rise over the last 15 months.

Seems like it was only two weeks ago that she was blaming the Ukraine shit for inflation.

[George K]

Obama's economic advisor, Stephen Rattner:

[jon-nyc]

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

[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).

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.

[LuFins Dad]

The average gas price before COVID was at $2.54, Jon.

Of course, it was over $3.20 over most of Obama's last 4 years...

[George K]

@LuFins-Dad said in Inflation:

Of course, it was over $3.20 over most of Obama's last 4 years...

[89th]

[89th]

No doubt we will be setting all-time high records soon, but let's not forget the price has been between $3 and $4 bucks per gallon nearly half of the last 15 years.

[Aqua Letifer]

@89th said in Inflation:

No doubt we will be setting all-time high records soon, but let's not forget the price has been between $3 and $4 bucks per gallon nearly half of the last 15 years.

My guess is that has the potential to put the 70s oil crisis to shame.

But hey yeah, Biden, let's encourage everyone to return to the office!

[LuFins Dad]

@Aqua-Letifer said in Inflation:

@89th said in Inflation:

No doubt we will be setting all-time high records soon, but let's not forget the price has been between $3 and $4 bucks per gallon nearly half of the last 15 years.

My guess is that has the potential to put the 70s oil crisis to shame.

But hey yeah, Biden, let's encourage everyone to return to the office!

That’s a great idea! Hadn’t even considered that.

[Jolly]

@89th said in Inflation:

Don't go by all formulations. Most vehicles run on regular.

[George K]

@George-K said in Inflation:

[Larry]

Don't blame me. I voted for Trump..

[jon-nyc]

@Larry said in Inflation:

Don't blame me. I voted for Trump..

His Fed pick quadrupled the money supply. Don’t blame me, I voted for Hilary.

[Jolly]

Remind me again...on whose watch has record inflation occurred?

[Larry]

@jon-nyc said in Inflation:

@Larry said in Inflation:

Don't blame me. I voted for Trump..

His Fed pick quadrupled the money supply. Don’t blame me, I voted for Hilary.

You voted for hillary?????

BWAAAAAAAAAHAHAHAHAAAAAAAAAAAAAAAA!!!!!!