U.S. Annual Inflation rose to 6.8% in November - the highest in 40 years

[Anonymous]

I can't believe the best response Biden has to Lester Holt is "don't be a wise guy." This shows he doesn't know, doesn't care, or doesn't have a plan. Wonder how Jenny will spin this today.

[Anonymous]

I also would also like to point out that all of us predicted that after unprecedented, unfunded tax cuts for the wealthy enacted by Republicans, the second a Democratic administration was in power then all of a sudden they will start shrieking about “THE DEBT, THE DEBT!!” and of course you guys wouldn’t disappoint. This is such a tired playbook. We knew you would do this years ago!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Steak at Walmart - not Whole Foods/Balducci/all grass-fed organic POOR PEOPLE'S STEAK - is now $20 and locked up in its own cage.

Biden needs to take this seriously.

https://www.tiktok.com/@oakwood19136/video/7061652820252200239

USDA Prime ribeye is NOT "poor people's steak". That's also an almost 2lb steak. The price shown of $12/lb is also cheap for that particular cut of meat. These are all facts.

This is not prime, it's USDA choice. This is expensive for choice grade beef.

Nope. That just makes it standard price

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Steak at Walmart - not Whole Foods/Balducci/all grass-fed organic POOR PEOPLE'S STEAK - is now $20 and locked up in its own cage.

Biden needs to take this seriously.

https://www.tiktok.com/@oakwood19136/video/7061652820252200239

USDA Prime ribeye is NOT "poor people's steak". That's also an almost 2lb steak. The price shown of $12/lb is also cheap for that particular cut of meat. These are all facts.

This is not prime, it's USDA choice. This is expensive for choice grade beef.

It's Angus, they tack on a premium for that.

[Anonymous]

Anonymous wrote:How did the fed balance sheet cause inflation in Europe and Canada?

Any of you Economic savants care to explain this?

Can't speak to Canada but in Europe there is inflation but it is also smaller than in the US. It's not quite as severe. It may be that the European countries didn't spend as much either. As for Canada, I imagine if there's inflation in the US it's hard for the Canadians to avoid it.

We were always going to have some inflation following 2020 but the inflationary pressures really started taking off after Biden passed his 1.9 trillion stimulus package, which was the third major stimulus package. This was the package Summers warned against as being both unnecessary and inflationary. You can track inflation acceleration to March 2021, the month the Biden act was passed. Prior to that it had been present but on a lower and more steady level.

[Anonymous]

Anonymous wrote:How did the fed balance sheet cause inflation in Europe and Canada?

Any of you Economic savants care to explain this?

Stop parroting this ridiculous excuse from the Biden administration. The inflation levels in the US are more on par with Brazil, Mexico, and Russia. Our rate of inflation is much more worse than in Europe, China, and most other advanced economies:

https://tradingeconomics.com/country-list/inflation-rate

(US inflation is 2 percent higher than the Euro Zone overall)

[Anonymous]

Anonymous wrote:How did the fed balance sheet cause inflation in Europe and Canada?

Any of you Economic savants care to explain this?

Is it news to you that the US was not the only one who pushed out excessive government payments?

[Anonymous]

Anonymous wrote:Jesus, stop clinging to supply chain issues. LOOK AT THE FED BALANCE SHEET. Here:

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm


It is truly remarkable how dumb the public and politicians are wrt basic econ. The Fed literally has a balance sheet now that is equivalent to almost half the entire GDP of the entire country. Stop talking about non-relevant issues like the supply chain or 'CoRpOrAtE GreEd!' as the main drivers of inflation. The govt IS the cause of the problem becsue they expanded the supply of money by a gargantuan 50% in about a year. The evidence is all over the Fed's balance sheet.

Totally agree. Inflations is 100% a monetary issue. If you print money like crazy you are creating inflation. Now politicians and particularly DEMs want you to believe that is because the price of the meat
Don't believe it ? just check the inflation in the las 4000 year and you'll find clear examples of this. Look at Salamanca university inflation studies in the 16th century, the roman etc etc.

[Anonymous]

Anonymous wrote:I can't believe the best response Biden has to Lester Holt is "don't be a wise guy." This shows he doesn't know, doesn't care, or doesn't have a plan. Wonder how Jenny will spin this today.

Clearly the president was complementing him for being wise.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Steak at Walmart - not Whole Foods/Balducci/all grass-fed organic POOR PEOPLE'S STEAK - is now $20 and locked up in its own cage.

Biden needs to take this seriously.

https://www.tiktok.com/@oakwood19136/video/7061652820252200239

USDA Prime ribeye is NOT "poor people's steak". That's also an almost 2lb steak. The price shown of $12/lb is also cheap for that particular cut of meat. These are all facts.

This is not prime, it's USDA choice. This is expensive for choice grade beef.

Nope. That just makes it standard price

No, standard price for choice grade ribeye is usually about $7 a pound. 12 dollars a pound is about the normal price for prime grade and I have paid as low as $10 a pound.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Steak at Walmart - not Whole Foods/Balducci/all grass-fed organic POOR PEOPLE'S STEAK - is now $20 and locked up in its own cage.

Biden needs to take this seriously.

https://www.tiktok.com/@oakwood19136/video/7061652820252200239

USDA Prime ribeye is NOT "poor people's steak". That's also an almost 2lb steak. The price shown of $12/lb is also cheap for that particular cut of meat. These are all facts.

This is not prime, it's USDA choice. This is expensive for choice grade beef.

It's Angus, they tack on a premium for that.

This is absurd. Angus is the most popular cattle breed in the US. You would have to shop for something esoteric to get non-angus beef in the US.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How did the fed balance sheet cause inflation in Europe and Canada?

Any of you Economic savants care to explain this?

Can't speak to Canada but in Europe there is inflation but it is also smaller than in the US. It's not quite as severe. It may be that the European countries didn't spend as much either. As for Canada, I imagine if there's inflation in the US it's hard for the Canadians to avoid it.

We were always going to have some inflation following 2020 but the inflationary pressures really started taking off after Biden passed his 1.9 trillion stimulus package, which was the third major stimulus package. This was the package Summers warned against as being both unnecessary and inflationary. You can track inflation acceleration to March 2021, the month the Biden act was passed. Prior to that it had been present but on a lower and more steady level.

So then you admit that inflation was inevitable. But it’s all Biden’s fault because of the *extra inflation that is defined by your gut feeling. Got it. Sounds well reasoned.

[Anonymous]

can we talk about the world inflation..

[Anonymous]

Anonymous wrote:

Anonymous wrote:Jesus, stop clinging to supply chain issues. LOOK AT THE FED BALANCE SHEET. Here:

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm


It is truly remarkable how dumb the public and politicians are wrt basic econ. The Fed literally has a balance sheet now that is equivalent to almost half the entire GDP of the entire country. Stop talking about non-relevant issues like the supply chain or 'CoRpOrAtE GreEd!' as the main drivers of inflation. The govt IS the cause of the problem becsue they expanded the supply of money by a gargantuan 50% in about a year. The evidence is all over the Fed's balance sheet.

Totally agree. Inflations is 100% a monetary issue. If you print money like crazy you are creating inflation. Now politicians and particularly DEMs want you to believe that is because the price of the meat
Don't believe it ? just check the inflation in the las 4000 year and you'll find clear examples of this. Look at Salamanca university inflation studies in the 16th century, the roman etc etc.

This bout of inflation is a supply/demand issue. Have you tried to buy a car lately? If it were “100% monetary” then demand would be lackluster and supply would be plentiful. Increased prices lead to decreased demand. This is not happening because there is still a ton of demand with not enough supply.

[Anonymous]

Anonymous wrote:Is Biden also causing inflation in Germany? https://www.marketwatch.com/amp/story/german-inflation-rises-at-fastest-pace-in-almost-30-years-271639120086

Or the UK? https://amp.theguardian.com/business/live/2021/dec/06/supply-chain-disruption-omicron-uk-economy-german-factories-builders-eurozone-business-live

It’s almost like there are some global factors causing this and isn’t the result of comedy policies?

If Trump was president ir will of still be happening