May CPI 8.6%

[Anonymous]

The US is not a global super power

[Anonymous]

Anonymous wrote:
These last two years have been an experiment in progressive economic policies and all we get is 40 year high inflation and $5-7/gallon gas. Cant wait to vote these people out in Nov.


biden wasn't in control for 2 years

+1 Two years ago Trump was in control. Biden was inaugurated in 2021. It is now 2022.

[Anonymous]

Anonymous wrote:These last two years have been an experiment in progressive economic policies and all we get is 40 year high inflation and $5-7/gallon gas. Cant wait to vote these people out in Nov.

Which specific “progressive economic policies” caused this?

[Anonymous]

Biden inflation.

Disgusting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This administration loves to say that inflation is a global phenomenon and throws up its hands but that's pretty dishonest.

Biden could ease Trump tariffs that made no sense back then and definitely no sense now.

He should also not entertain this dumb idea of forgiving student loan debt and putting more money into people's hands. Every time this administration has listened to the progressive faction (Bernie/Warren/Jayapal) has been ruinous for the rest of the country.

In what way did entertaining the idea of student loan forgiveness cause current inflation?

By stopping payments on student loans, he has flooded the economy with money that shouldn’t be there all while dangling out loan forgiveness. This means instead of people taking advantage of this time to pay down the principal, they are spending the money elsewhere “just in case”. DP

[Anonymous]

Anonymous wrote:

Anonymous wrote:
These last two years have been an experiment in progressive economic policies and all we get is 40 year high inflation and $5-7/gallon gas. Cant wait to vote these people out in Nov.


biden wasn't in control for 2 years

+1 Two years ago Trump was in control. Biden was inaugurated in 2021. It is now 2022.

You are correct. It has taken less than 2 years.... Only 17 months (almost). It only *seems* like 2 years (or an eternity).
Let's look at where things were two years ago.

It's incredible that we could have fallen so far in less than 2 years.

[Anonymous]

Anonymous wrote:Biden is bad for America.

Nope. Not even Bill Clinton (the only president in modern history to balance budget and leave with a surplus) could save this economy. Biden walked into an economic tsunami with low unemployment; free cash flow of money throughout the system; wars; trillion-dollar federal deficit; largest population demographic retiring; and low immigration

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This administration loves to say that inflation is a global phenomenon and throws up its hands but that's pretty dishonest.

Biden could ease Trump tariffs that made no sense back then and definitely no sense now.

He should also not entertain this dumb idea of forgiving student loan debt and putting more money into people's hands. Every time this administration has listened to the progressive faction (Bernie/Warren/Jayapal) has been ruinous for the rest of the country.

In what way did entertaining the idea of student loan forgiveness cause current inflation?

By stopping payments on student loans, he has flooded the economy with money that shouldn’t be there all while dangling out loan forgiveness. This means instead of people taking advantage of this time to pay down the principal, they are spending the money elsewhere “just in case”. DP

I would argue that the PPP loans, mortgage freeze, low mortgage rates, and extended unemployment checks were far more damaging.

[Anonymous]

And people not paying rent
Now PE turning everyone into renters at inflated cost

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This administration loves to say that inflation is a global phenomenon and throws up its hands but that's pretty dishonest.

Biden could ease Trump tariffs that made no sense back then and definitely no sense now.

He should also not entertain this dumb idea of forgiving student loan debt and putting more money into people's hands. Every time this administration has listened to the progressive faction (Bernie/Warren/Jayapal) has been ruinous for the rest of the country.

In what way did entertaining the idea of student loan forgiveness cause current inflation?

By stopping payments on student loans, he has flooded the economy with money that shouldn’t be there all while dangling out loan forgiveness. This means instead of people taking advantage of this time to pay down the principal, they are spending the money elsewhere “just in case”. DP

I would argue that the PPP loans, mortgage freeze, low mortgage rates, and extended unemployment checks were far more damaging.

I'd argue that extended unlimited checks to families with excessive amounts the more kids you have was the worse of all in the 'damaging' payments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Biden is bad for America.

Nope. Not even Bill Clinton (the only president in modern history to balance budget and leave with a surplus) could save this economy. Biden walked into an economic tsunami with low unemployment; free cash flow of money throughout the system; wars; trillion-dollar federal deficit; largest population demographic retiring; and low immigration

Funny you mention Bill because he too brought up social welfare at the wrong time - remember HillaryCare - and rapidly reversed course. Biden as you said had an economic tsunami and a viral pandemic on his hands. All he had to do was right the ship and cure the sick. That is more than enough.

[Anonymous]

I voted for Biden to get rid of Trump. Never again. He is a complete disaster and has no plan while the economy collapses and trillions in wealth is wiped out (so far).

[Anonymous]

No mean tweets

[Anonymous]

Rust belt voters like me will never vote for that sob Biden again

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just honestly don't think the old rules apply here with what we have been through in the last year and a half. Pandemic and now war are the reasons for so much of this trouble.

What exactly would the Republicans do? Tax cuts again? Yeah, those have worked out so well for everyone *MASSIVE EYEROLL*

Agree that the old rules don’t fit the pandemic effects on the economy but the official economic statistics are adjusted for the pre-pandemic economy. We’ve seen that with the BLS labor data using their seasonal adjustments from pre-pandemic patterns and then having to make big adjustments. They finally modified their adjustments but with mostly guesswork.

For CPI and all the other stats adjusted to CPI, the average basket of goods and services built into it is based on pre-pandemic consumption patterns. Yes, gas prices are up but how many people drive as much now as they did in 2019? I sure don’t. I work from home 3 or 4 days a week now vs. 0 days 3 years ago. For commuting, I filled up twice a month 3 years ago but only once a month now, so even with higher prices, I spend less money on gas now. I also spend less on lunch, business attire, auto maintenance, etc., related to commuting, so inflation really hasn’t affected me. But the economic stats assume I’m still buying as much of everything as I bought in 2019.

If gasoline and food consumption were down, enough to make the old CPI models outdated, post pandemic, then odds are prices for those items would be down. The simple answer is that demand is not down enough to offset any supply constraints. The more nuanced answer is that oil flows through everything. You may not be driving to the office but you probably receive a lot more delivered goods at home. The further nuance is that consumption is down marginally from pre pandemic levels, but supply constraints more than offset reduced demand and cost for goods and services are up.

Come on. You know gas prices are not based on consumer demand. Its not a legitimate economic market.

Thats why gas was so cheap the past two years, right?