Biden blames everyone else for inflation
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@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. -
@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.
Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
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)
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@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.
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@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....
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@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.
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@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.
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@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.
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@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.
Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
@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.
