Americans souring on economy as inflation hits 30-year high

Discussion in 'Current Events' started by sec, Nov 11, 2021.

  1. balancing act

    balancing act Well-Known Member

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    I agree with you on this.
    It seems that we agree that the government is not the leading driver of the economy, although it can have an effect, but overall market conditions and a million other non-government factors are the main drivers.
    I'm good with the capitalist way of doing things, but believe it's necessary for the government to make sure that companies don't control everything, as their bottom lines are by far the most important thing to them. The government needs to make sure the workers aren't taken advantage of and things are done fairly.
    That's a simplistic statement, but I think it gets the point across.
    Thanks for your well thought out reply!
     
  2. Zorro

    Zorro Well-Known Member

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    Oh I think it's outsized current role is precisely the problem.

    Previous to COVID government spending was about 22% of the economy. For the shut down, we did a one time spike to 34% to compensate folks idled by government decree, which is just. If you force someone not to work, you have to compensate them so they can continue to provide for themselves. In the second half of 2020 that dropped down to 31% and had it been allowed to continue to revert to mean, we would not be in the midst of this inflation spiral.

    [​IMG]
     
  3. balancing act

    balancing act Well-Known Member

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    Very interesting!
    Only one thing, the inflation isn't solely dependent on the amount of government percent of the economy, so it's hard to say that all of the other factors wouldn't be adding to or keeping the inflation rate going. I kind of doubt that inflation would drop dramatically if the government suddenly cut it's impact back down to 22%, at least until some of the other factors change.
    I hate to make a big deal about it, but thanks for the rational and well thought out replies!
    I doubt we agree on everything, maybe little, but at least it didn't turn into a pissing contest.
     
  4. Zorro

    Zorro Well-Known Member

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    Here, from a source you might find more credible than me, even the NYT's dared to barely stick a toe into the truth that the Electorate is already fully aware of:

    The New York Times sent an email to its morning update subscribers with the headline: “Who’s to blame for inflation?”
     
    Last edited: Nov 17, 2021
  5. Yulee

    Yulee Well-Known Member

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    Where are they paying people to not work?
     
  6. flyboy56

    flyboy56 Well-Known Member Past Donor

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    Temporary could mean just about anything. So long as the virus continues to disrupt businesses there will continue to be too much money chasing too few products. How high will inflation go and when will the Feds raise interest rates which they don't like to do because it will Americans more to pay the interest on the National Debt, the 800 lb gorilla in the room no one likes to talk about.
     
  7. flyboy56

    flyboy56 Well-Known Member Past Donor

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    I am not blaming Biden for the supply chain issues that are causing inflation but getting more businesses back to work could only serve to create higher inflation by putting more money into the economy that is already short on goods. It is not doing much in the way of manufacturing and shipping goods to market because much of the manufacturing was sent to other countries. US businesses are mostly service related. They are the middlemen who help distribute goods but even they are short of goods. A recent article from the BBC.

    Germany is in the grip of a "dramatic" fourth Covid wave, Chancellor Angela Merkel has said on the eve of a crisis meeting with regional leaders.


    Daily infections hit a new German record of 52,826 on Wednesday as European governments responded to a surge on much of the continent.

    Belgium announced a series of measures in an attempt to avoid a lockdown.

    "All the alarm signals are red," said Prime Minister Alexander De Croo, as he told people to limit personal contact.

    "Europe's map is quickly going red, and we are the same."
     
    Last edited: Nov 17, 2021
  8. Bluesguy

    Bluesguy Well-Known Member Donor

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    If you are so aware of the money the government has been handing out to persons and the labor shortages around the country you are to uninformed to have a factual discussion on the matter. Sorry.....
     
  9. Bluesguy

    Bluesguy Well-Known Member Donor

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    There is a HUGE difference between the government printing money and handing it out, highly inflationary, and business and the economy creating wealth, growing the GDP and the money supply being kept up WITH THAT VALUE which is not highly inflationary.

    And this is not about who to "blame". Biden ran on being the man that could better run the country as far as the President and have the plans and the knowledge and then relationships blah blah blah. We have known this was coming since last spring. It's about what has he done about it and why has it gotten to this point. Why wasn't Buttigieg working night and day on it, getting out their the field finding out what needed to be done then getting back to the President so plans and solutions could be found. Hopefully doing so like Trump and calling in all those private sector people and asking them what do they need and how can we get it done. I don't get this "well he's not to blame so he doesn't have to do anything about it now" mentality.
     
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  10. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    I disagree. He was supporting policy based upon the pandemic as well as the economic impacts.

    https://apnews.com/article/virus-ou...omy-politics-94462d5785eaebbff6ccd8fbf660d503

    https://www.forbes.com/sites/andrew...mp-for-ending-stimulus-talks/?sh=26d0eee33245

    You can't just endlessly spend money, coupled with executive orders and failed border protection, and pretend those things don't have an impact on the economy.
     
  11. flyboy56

    flyboy56 Well-Known Member Past Donor

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    I have not read anywhere here where Biden shouldn't have to do anything about the current supply problem or rising inflation. No one saw the virus creating such a mess with the economy here or around the world and I doubt anyone could have done much about it to really prevent it. All I am suggesting is Americans need to slow down on their purchases and buy only what they need until the situation can be fixed. How high will THAT VALUE go? Inflation is caused by too much money chasing too few goods and that is what we are seeing now.
     
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  12. balancing act

    balancing act Well-Known Member

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    The articles you linked are dated June 9th and Oct 6th of 2020. The article I linked was from Oct. 7th, one day after. One of the reasons why I put what I did at the end.
    It addresses it in the article I linked, it's sort of what it's about. I was debating what you posted earlier.
    I agree that it affects inflation. One of many things. One of the smart things Obama did during the recovery from the financial disaster of 2008-09 was to be careful with the amount and type of stimulus the government did so inflation wouldn't run up. I was hop[ing Biden could have similar success, but we'll have to wait. So far, not. There are major differences and similarities in circumstances.
    I like graphs. This one is interesting as it has an interactive scale. https://www.macrotrends.net/2497/historical-inflation-rate-by-year
     
  13. Yulee

    Yulee Well-Known Member

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    Since you’re being disingenuous, there are no states giving out the federal unemployment dollars at this time.
     
    Last edited: Nov 17, 2021
  14. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    I'll agree that Obama did a good job of imposing economic stimulus through infrastructure without driving up inflation.

    That graph is concerning as I don't think it's done yet.
     
  15. Bluesguy

    Bluesguy Well-Known Member Donor

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    "has been" is the past tense. And Biden and the Dems want to throw even more out in freebies, just look at the spending they are trying to pass.
     
  16. Bluesguy

    Bluesguy Well-Known Member Donor

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    Well every time it is brought up the Bidener's responses is "well it bad everywhere" or "it was already bad what do you expect". I've been asking what has he done where have his successes been? Trump got the economy going again, out of the crash, into a recovery. All Biden had to do was ride it out and institute polices to cut all the hands outs and get people back into the workplace as taxpayers instead of a government expense. It's the same screw up he and Obama had coming through the 2009 recession creating the worst recovery in modern history.

    Americans need to keep buying and Buttigieg needs to get off his arse and do something or resign and Biden can select someone from the private sector who knows the industry, who knows they people, who has run things and knows how to get things done and what needs to be done. All these excuses are fixing NOTHING.
     
  17. sec

    sec Well-Known Member

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    you bet

    Democrat voters own this train wreck. How do you enjoy paying more for energy and thus the increased price of everything else that depends on fossil fuels


    Democrat votes have consequences; always painful
     
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  18. gamewell45

    gamewell45 Well-Known Member Past Donor

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    Democrats inherited this mess from from trump & company, now they have to go in and fix it (as usual) again. Btw, I'm fine with paying more for whatever energy I use since I use a bicycle more than the average person plus try walking; it's healthier then sitting in a car or truck. You people are amazing; no wonder the world thinks the US is such a knock off when it comes to the prices of oil.
     
  19. Zorro

    Zorro Well-Known Member

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    Buttigieg worse than worthless.

    U.S. Ship Logjam Worsens As Biden's Attempt To Save Christmas Fails
    [​IMG]
    "We are drowning on the landside by long lines and staffing issues at the terminals."

    The Biden WH is a return to the Obama/Biden WH of do nothing, solve nothing, just credit grab or finger-point and spin spin spin.

    Dementia Joe "told Americans that the supply chain is in "very strong shape" ahead of Christmas. Biden said his administration has partnered with the private sector to "ensure the store shelves are stocked." But new shipping data shows snarled supply chains are worsening, and it could take months to untangle them."
    [​IMG]
    Buttigeig starts work Feb 2, then goes on 60 days of paid leave starting on on 8/15.​

    Always with the damn 'optics' and "messaging" never actual solutions.
    No wonder the nation misses Trump.
     
  20. Bluesguy

    Bluesguy Well-Known Member Donor

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    Always ended up "Hey we inherited this what do you expect US to do about it?"
     
  21. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    Trump fixed the Biden/Obama stagnant malaise....till Covid came along. Do you need a license, registration and insurance on that bicycle? You should.
     
  22. gamewell45

    gamewell45 Well-Known Member Past Donor

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    Share with us how trump fixed it if you would.
     
  23. Zorro

    Zorro Well-Known Member

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    They aren't problem solvers, they are spinners and blame shifters. We always knew the cycle would be:
    1. We have all the answers
    2. Our solutions will be fabulous.
    3. They utterly face plant
    4. They spin, blame and finger point.
    Trump clearly was the superior president, equipped with a brain and everything.

    WaPo: Talk we must about the DCCC's laughably deceptive gas-price propaganda

    [​IMG]

    Look at this ridiculous graph the Dems put out trying to spin Biden's gas price disaster.

    [​IMG]

    No solutions, just "messaging" "optics" and spin jobs.

    Up a $1.02 a gallon which they claim Biden has no responsibility for, but they want to crow about a 2 cent drop?

    [​IMG]
     
  24. Bluesguy

    Bluesguy Well-Known Member Donor

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    Either some idiots don't know how to read a graph and numbers or they think we are all so stupid we can't. I don't know which is worse.
     
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  25. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    You should have been reading all along and you'd know.
     

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