Inflation hits new 40 year high
- Thread starter Gold Trojan
- Start date
Disposable income did increase from 2021 over 2020...
You know why? 2020 was the COVID SHUTDOWN....lots of people didnt work, esp the restaurant/hotels/tourism folks....
I myself was guaranteed 75% of my wage for like 3 months, then had do some partial unenemployment latter part of 2020...so I had to make do with less in 2020..
January 2021 came and I was doing 40+ hours of billables...as companies needed help due to all the people that left various companies during the shutdown....2021 was one of my best years in awhile.
But only IDIOTS would claim that as a fantastic economic performance, coming off the 2020 shutdown....
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Every trip to the grocery store is frightening. And gas is going back up too. I see little chance of me being able to keep up with it.
I completely lost my marketing business during shutdown. All gone.
Economy is strong according to old joe and inflation only "moved up an inch." The idiot in chief is arguing numbers while mothers forage for baby formula because the supply line debacle hasn't been resolved - seven months! If you're a mother or father in these depressed economic times and you can't feed or clothe your baby then you're another idiot if you vote for democrats and for old joe. The layoffs have started and will get worse. To quote old joe from last year, "It's going to be a dark winter." Yeah, a dark, cold, and hungry winter for millions and millions of Americans.
FINALLY! The end of Modern Monetary Theory has collapsed into the dust bin of history. Rick Santelli of Market Watch called MMT a "stupid idea." The theory that the US could continue to indefinitely print money with no consequences was pie in the sky thinking - a ponzi scheme. DOW crashes below 30,000 today and the real pain begins. The biden economic policies have failed miserably and because of biden America is a higher risk borrower, which means higher lending rates. 10-year bonds hit a staggering and sobering 3.83%, under President Trump I believe it was it was under 1%. It's the bonds that run your life. Now the work can begin to crush this damaged MMT economy and get back to sound fiscal policies and the will to create a structurally sound economy. Much like Gustave Courbet's painting The Burial at Ornans represented the funeral for the Renaissance and the ushering in of Realism; so it is today that Modern Monetary Theory has its own funeral. GaryB is in mourning. Welcome to the world of REALISM.
BOOM...MKJ-OT has won the economic argument. Burn in hell, MMT.
BOOM...MKJ-OT has won the economic argument. Burn in hell, MMT.
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Unvetted.
Ukraine, the best lobbyists in the known universe. Or, America, the dumbest collection of political officials in that same universe.
"Half a dozen representatives of the neo-Nazi-led Azov movement in Ukraine are currently visiting the United States, taking meetings in Washington and reaching out to Ukrainian Americans."
Ukraine, the best lobbyists in the known universe. Or, America, the dumbest collection of political officials in that same universe.
"Half a dozen representatives of the neo-Nazi-led Azov movement in Ukraine are currently visiting the United States, taking meetings in Washington and reaching out to Ukrainian Americans."
N8 - Hold it! Aren’t you the guy that wants Trump and his $8 trillion in deficit spending back in office? Even funnier is you use the US equity market as your proxy for the health of our economy.
The total value of your proxy (US equity markets) is $24 trillion. The total value of the US credit markets is $1 quadrillion. In your teaspoon of wisdom, why don’t you explain to me the effect that Trump’s deficits had on the credit markets?
Let’s make this discussion simpler. In 1934, the US pegged the exchanged value of the exchange ratio for the USD at $20.67 per ounce of pure gold.; and prohibited the public from holding gold. Then, FDR increased the exchange rate from $20 to $35 an oz. What just happened and why is that action credited with ending the Depression?
You spend your time searching for sound bites that support your political agenda. In the meantime, the Globe has the challenge of digging out of a hole caused by a pandemic, exaggerated by military aggression and trade tension.
38 central banks raised rates this past week. The US is quickly approaching terminal rate (if not already there), with the globe (excluding Turkey) aligned. If you really believe that MMT is the culprit; then, why are emerging markets that denominate their currency in USD raising rates? Same question for pegged currencies?
Markets implode as recession fears are reality.
www.cnn.com
finance.yahoo.com
www.wsj.com
Stocks plunge as recession fears mount
US stocks fell sharply in Friday trading as investors continued to worry about even more rate hikes from the Federal Reserve that could land the US economy in a recession.
www.cnn.com
Stock market news live updates: Stocks crater, oil plunges as Fed, growth fears intensify
U.S. stocks spiraled to cap a volatile week lower Friday as fears that aggressive central bank tightening would trigger a recession wreaked havoc across financial markets.
Stock Market Today: Dow Loses 400 Points, Touches New 2022 Low, as Indexes Dropped Friday
Follow The Wall Street Journal’s full markets coverage.
Inflation remains historically high, placing low and moderate income households in the biggest pinch.
www.cnbc.com
Inflation and higher rates are a 'dangerous mix' for consumers already stretched thin, says chief financial analyst
Consumers are feeling the squeeze as borrowing costs jump while inflation remains high.
www.cnbc.com
No more steak. Ordering out less. Here's how inflation is squeezing American diets.
30% of registered voters ranked inflation as their top issue in the 2022 midterm elections amid higher rent costs and rising grocery store prices.
www.usatoday.com
And yet some on here (caught up in their own dreams of grandeur and sense of narcissism) will try and convince everyone that all is well.
"The average American has lost $4,200 in income due to soaring inflation and rising interest rates, according to an analysis by the Heritage Foundation.
Experts at the right-leaning think tank analyzed consumer prices data and the Federal Reserve's interest rates. Consumer prices have risen 12.7 percent since 2021, far outpacing wages and Heritage experts believe this has cost Americans about $3,000 each in purchasing power.
As the Fed pushes interest rates to a range of 3-3.25 percent, higher borrowing costs are squeezing Americans on mortgages, vehicle loans and credit cards, costing another $1,200 per year."
Yay biden.
Experts at the right-leaning think tank analyzed consumer prices data and the Federal Reserve's interest rates. Consumer prices have risen 12.7 percent since 2021, far outpacing wages and Heritage experts believe this has cost Americans about $3,000 each in purchasing power.
As the Fed pushes interest rates to a range of 3-3.25 percent, higher borrowing costs are squeezing Americans on mortgages, vehicle loans and credit cards, costing another $1,200 per year."
Yay biden.
Remarkable they can't concede we're already in a recession. Stagflation is already happening. Next Quarter will be ( -1) according to the Atlanta Fed report. Forget recession, one more blow and this country will be in Great Depression II.
I‘m not giving Biden a pass on inflation, but inflation is a global phenomena; we didn’t drag the entire globe into an inflationary period. I won’t go into what caused this as I think it will go over most of your heads (and I don’t feel like typing that much), but Biden is a convenient scapegoat, as all presidents are for the economy they oversee.
Definitely another act of inflation reduction.
https://www.state.gov/457-5-million-in-new-u-s-civilian-security-assistance-for-ukraine/
"The United States today committed an additional $457.5 million in civilian security assistance to enhance the efforts of Ukrainian law enforcement and criminal justice agencies to improve their operational capacity and save lives as they continue to help defend the Ukrainian people, their freedom, and their democracy from the Kremlin’s brutal war of aggression."
https://www.state.gov/457-5-million-in-new-u-s-civilian-security-assistance-for-ukraine/
"The United States today committed an additional $457.5 million in civilian security assistance to enhance the efforts of Ukrainian law enforcement and criminal justice agencies to improve their operational capacity and save lives as they continue to help defend the Ukrainian people, their freedom, and their democracy from the Kremlin’s brutal war of aggression."
Take no prisoners: In the Fed's inflation fight, no one is spared | CNN Business
Call it the "Take No Prisoners" economy.
www.cnn.com
Nowhere to hide for the average American! Bidenomics is the biggest failure in American history! The thing is all he has to do to turn this ship from heading over the waterfall is unleash American energy - cut regulations, crank open the valves, and drill drill drill! This catastrophic economic disaster is self-inflictedTake no prisoners: In the Fed's inflation fight, no one is spared | CNN Business
Call it the "Take No Prisoners" economy.
Actually, Biden was very much responsible for a huge portion of the inflation. The spending, the war on the fossil fuel industry, etc. all these things added up to a very predictable result.
And inflation is not out of control around the world. Europe has a problem because of their idiotic energy policies.
Correct. The United States is dead last among all industrialized countries for highest inflation. Dead last. In fact, the US is in the company of third world countries. It's dispicable what the biden regime has done to this country.
Hmm, this is a very informative economic analysis. I couldn't agree more!
stevecortes.substack.com
The Clueless Fed
Powell and his lieutenants share blame for the Biden economic crisis.
stevecortes.substack.com
Trump called it right again! Stocks down $7.6 trillion since Old Yeller joe took office. Jeebus 
Devastating to seniors and those on fixed income.
The real problem we have now is Powell. Ask any Wall Street guy. Rates were too low for too long and now he is raising more then required. Inflation was due to many reasons but the 2% mortgage last summer was a big part of it. Everyone I know did a cash out refi. It also made house prices go crazy. And no he was not appointed by Biden. It was president juice the economy Trump
the real issue is the dollar is blowing up cross trades on other currencies and currency crisis is here.....Either the Fed jawbones the dollar down this week or expect at least 351 SPY....we have some really bad folks in politics on both sides, more so with the unhinged left
...Taxpayers are the ones who feel it most
Funny were sending so much money to NATO and Ukraine thru the Biden Obama criminal syndicate.........its exactly why someone was trying to disband that over used organization of weapons sales
...Taxpayers are the ones who feel it most
Funny were sending so much money to NATO and Ukraine thru the Biden Obama criminal syndicate.........its exactly why someone was trying to disband that over used organization of weapons sales
Biden's energy policies and pushing that Ukraine border conflict with Russia has sent the world into a tailspin. He is responsible for a global economic collapse. He refuses to take responsibility for ruining an American economy on the rise again after the Covid shutdown. Worst ever to occupy the Oval Office. The clown knows nothing about running a country.
N8: perhaps you will share the changes that Biden could make to energy policies to fix whatever problems you blame on him?
The US has 141 oil refiners with the last one coming online in January 2022. Currently, the US is operating at max capacity, eclipsing the 2019 production record. Other refining nations have substantial excess capacity, with China’s lockdown idling refiners in both China and Russia.
The strong dollar and distribution of oil from the strategic reserve have contributed to global prices falling, along with the decline in China demand.
outside of dropping sanctions on Iran and Russian oil exports, what policies could this administration implement to reduce oil prices?
Seniors at the local senior center my wife volunteers at hate biden, I mean they detest him with a passion. I've yet to meet anyone that has anything good to say about biden.
The market continues to take a beating.
Inflation continues to punish working and low income families and individuals.
thehill.com
7 in 10 workers surveyed say inflation is outpacing their pay
A growing number of Americans say the cost of living is climbing faster than their salary and wage growth amid rising inflation and recession fears, according to a new survey. A Bank of Amer…
thehill.com
Food prices jump at the highest rate since the spring of 1979.
www.cnbc.com
'It's belt-tightening time' — How to save as food inflation jumps more than 11% in a year
Food costs climbed again in August, bringing the year-over-year gain to 11.4%, according to the latest consumer price index figures.
www.cnbc.com
Because America needs to take the economic advise from…
xuscx
ROTGLMAO!
xuscx; you know nothing, of which you type.
life of the uniformed, that is what finance people are talking about in case you missed it
Wharton professor says Fed Chairman Powell 'should offer the American people an apology' | Fox News
NEW FLASH…
Repeating what the talking head media says…. is NOT being ”informed.”
Powell - ”should offer the American people an apology”
an apology for what he has done?? (ARE YOU KIDDING?!?) Thats all?
No consequence what so ever, for his actions.
