Democrats most to blame for inflation
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@Mik said in Democrats most to blame for inflation:
So, now that you've thoroughly shot the messenger, any comment on his ideas?
My feeling is that blaming all the inflation on the Democrats is rather foolish. The Covid crisis and the response to it has caused this problem, which is getting better. Telling me that a reduction in inflation isn't the same as prices going down? Fucking hell, give that man a Nobel Prize!
And I wasn't shooting the messenger. I was complaining about some guy who doesn't know any more about economics than I do writing an article that was written like a high school essay.
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@Mik said in Democrats most to blame for inflation:
So, now that you've thoroughly shot the messenger, any comment on his ideas?
Dismissing the 2020 COVID relief as a part of the cause because it was bipartisan makes no sense. The effects of that stupid stupid bill were still the primary driver of inflation.
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@LuFins-Dad said in Democrats most to blame for inflation:
@Mik said in Democrats most to blame for inflation:
So, now that you've thoroughly shot the messenger, any comment on his ideas?
Dismissing the 2020 COVID relief as a part of the cause because it was bipartisan makes no sense. The effects of that stupid stupid bill were still the primary driver of inflation.
That's more or less what I have said. Inflation was coming regardless. I will say that the Biden admin made it worse than it needed to be with $3T in unnecessary spending. How much worse? I don't know. But it does question the judgement. if you know that inflation is coming, and they did, why would you make it worse?
"My pronouns are FA/FO." - Mik, 2024
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@Mik said in Democrats most to blame for inflation:
@LuFins-Dad said in Democrats most to blame for inflation:
@Mik said in Democrats most to blame for inflation:
So, now that you've thoroughly shot the messenger, any comment on his ideas?
Dismissing the 2020 COVID relief as a part of the cause because it was bipartisan makes no sense. The effects of that stupid stupid bill were still the primary driver of inflation.
That's more or less what I have said. Inflation was coming regardless. I will say that the Biden admin made it worse than it needed to be with $3T in unnecessary spending. How much worse? I don't know. But it does question the judgement. if you know that inflation is coming, and they did, why would you make it worse?
Oh, I agree and I also have no question that the original COVID relief could have been much worse with a Dem in the hot seat. But Trump was in the seat, and he still needs to be held culpable. The payroll protection loans should have been strictly that. Loans. 0%, and if you wanted to have a loan forgiveness, your P&L needed to show a commensurate loss. Unemployment benefits needed to be at what the original pay level was. Too many people got raises to not work. And as for the people that continued to work? Giving a family of four an extra $10K while the parents were working? Ridiculous.
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"My pronouns are FA/FO." - Mik, 2024
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@Mik said in Democrats most to blame for inflation:
I agree. My financial advisor firm got $500,000 and didn't stand to lose a dime. They remodeled their HQ with it.
I've got 10 apples for sale if they're interested. They're monogrammed with Donald Trump's name so I reckon they're worth at least 50K a pop.
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I wondered how the US did when compared to other countries with respect to inflation during COVID. Turns out we did do worse, at least initially.
Couple of years old, but some thoughts from a couple of analysts at the SF Fed.
tl;dr
The United States is experiencing higher rates of inflation than other advanced economies. In this Economic Letter we argue that, among other reasons explored by the literature, the sizable fiscal support measures aimed at counteracting the economic collapse due to the COVID-19 pandemic could explain about 3 percentage points of the recent rise in inflation. However, without these spending measures, the economy might have tipped into outright deflation and slower economic growth, the consequences of which would have been harder to manage.
I haven't checked around for how our inflation rates compare to the rest of the world during the most recent couple of years, prior to the above analysis.
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@wtg said in Democrats most to blame for inflation:
I wondered how the US did when compared to other countries with respect to inflation during COVID. Turns out we did do worse, at least initially.
Couple of years old, but some thoughts from a couple of analysts at the SF Fed.
tl;dr
The United States is experiencing higher rates of inflation than other advanced economies. In this Economic Letter we argue that, among other reasons explored by the literature, the sizable fiscal support measures aimed at counteracting the economic collapse due to the COVID-19 pandemic could explain about 3 percentage points of the recent rise in inflation. However, without these spending measures, the economy might have tipped into outright deflation and slower economic growth, the consequences of which would have been harder to manage.
I haven't checked around for how our inflation rates compare to the rest of the world during the most recent couple of years, prior to the above analysis.
The part that’s hard to quantify with all of that is how much the US Inflation also impacted other countries economies. The US Dollar is the world’s principle reserve currency with over 60% of global central bank currency held in the USD. When the USD loses value domestically, it loses it internationally as well and causes ripple effects around the world.
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@wtg said in Democrats most to blame for inflation:
I haven't checked around for how our inflation rates compare to the rest of the world during the most recent couple of years, prior to the above analysis.
About average, apparently
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@Renauda said in Democrats most to blame for inflation:
Odd, we blame the Trudeau Liberal government for the inflation.
In fact we blame Trudeau for everything bad that has occurred in the world since The French Indian War.
There's a reason for that. He's just so very blamable. Plus, he looks like he's Fidel's kid.
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Plus, he looks like he's Fidel's kid.
So foreigners say. To us he is clearly Pierre Trudeau’s progeny; has his father’s eyes, facial features and mannerisms. Unfortunately though, he also inherited the old man’s arrogance but none of his intelligence or originality. On the other hand, he’s definitely his mother’s spoiled little brat.
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"My pronouns are FA/FO." - Mik, 2024
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LOL This guy is perfect for TNCR.
Like me, he can speak with authority on any subject, even if he doesnt really know much about it. 555
Send him an invite to the room!!
On another note, I was reading an economist who said that the massive stimulus stopped the US from going into recession (or worse). I guess it depends on which would have you rather have - inflation or recession.
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"My pronouns are FA/FO." - Mik, 2024
