Manchin tears into Biden over failing to stop record inflation

I have to add a comment about Biden's plan for gas/oil prices. Reference his inflation speech yesterday in Iowa when the bird defecated on him. He is clueless concerning the fact the Ethanol take more energy to produce than you get from burning it. That, and increasing the Ethanol percentage in gasoline will destroy many car engines. Ethanol is hydroscopic. It is corrosive and tends to melt plastics. Ethanol and gas do not mix well and separate over time. Increasing the taxpayer welfare to farmers and pandering to the Iowa voters does not provide a solution to the high price of gasoline. I wonder how many cars will be ruined and warranties voided if Biden is able to by Executive Order increase the amount of Ethanol in gas. Of course the Biden plan will increase the cost of food.

 

They're the same points Jet made.

 

You can't honestly be this lost. The key to inflation is ALWAYS increasing the supply of the demanded goods and services.

• How does the Fed raising rates increase supply? It doesn't.
• How does "taking over the private sector" remove 'breaks' in the supply chain?
  • First, you have no legitimate authority to do so, second what you are terming "breaks" are shortages of supplies! Taking them over does not create more supply.
• Raising taxes does not increase supply.

Then you beg for a "quick fix". You want an easy answer, and a fast answer, that you can implement before the election. Well the time to do that was when Biden and the Dems had an opportunity not to screw up, over a year ago. You can't storm down the wrong path, headed in the wrong direction for year, and then demand that the folks that warned you caste a magic spell that will put you where you would be if you had made the right choice over a year ago, and put you there in 5 months. Reality simply does not work the way you unreasonably demand.

You guys have caused real hardship and pain and you did it over loud and accurate warnings and I see no signs that you have faced that.

Bide and the Dems Inflation forcing retirees back into jobs.

“One out of four adults said that inflation is the single greatest threat to their retirement plans in 2022, according to Schwartz Center for Economic Policy Analysis. That’s more than concerns about health care costs, outliving your money or job security combined.”

You guys have caused a great deal of harm, now do the hard work of coming face to face with that and humbly working to mitigate the great harm that you have brought to hard-working Americans.

 

You can add 2 points for an accurate comparison.

 

Why Biden doesn't know any? How about stop sending out helicopter money and telling the markets you are going to get an additional $5T in handouts passed. How about supply side tax rate cuts and stop threatening investors he will tax away their earnings and even unrealized gains, a moratorium on any new regulations, cancelling all his anti domestic energy EO,s, see my sig below. That's a good start.

Now what are your solutions? What are Biden's?

 

Not only are we losing of the SS benefits we were forced into, he's tanking our own retirement savings and people are having to cut back on their monthly withdrawals which are buy less goods because they are worth less.

 

I know it's tough, hang in there. They refuse to do everything they can to increase the supply of goods and services, so the imbalance is resulting in demand destruction, instead, just as they were warned it would, and your case is exactly what that looks like in real life.

So next, after all the conga line of liars and freaks that speak for these folks are all on record claiming that inflation is due to this "amazing red hot economy" next they are going to have to assign blame for the 1.1% "growth" in Q1 which obviously is NOT an "amazing red hot economy".

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They lurch from screw up to screw up, spreading the bull crap to cover the last screw up even as they are committing the next screw up.

And they will listen to no one. As long as they have power you get screw ups and bull crap. That's not changing. The only thing you can do is work to keep them from power, and that requires honest elections, because as they have shown, they will rig the crap out of elections if they have the opportunity.

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That’s somewhat true, but I wouldn’t count on it

 

that all you got, sounds like a "fail" to me

 

Sounds like BS( Biden Sucks)

 

but less so than TS (Trump Sucks)

 

Though you're terminology is a bit harsh, for my taste, I agree with your point. All Manchin is doing is trying to polish his own image, to WV voters, and he doesn't give a spit for any other Democrats.

Funny, independent Bernie Sanders is more of a Democratic team player, than Manchin, who is actually on the team.

And what good is he doing West Virginians, with his complaints, after the fact? If he was so concerned, he practically had carte blanche, last year, to get remedial inflation action, in exchange for some deal on Build Back Better. My longtime opinion of Manchin has dropped; he's just looking out for his own ass, here.

EXACTLY!

Though Manchin is being overly alarmist, I think. A full half of March's inflation, came from the spike in gas prices, due to fears of interruptions in supply, because of the Ukraine War. While this conflict still leaves question marks, for the future, a lot of the fundamentals are improving, at this point. Barring unforseen occurrences, I just heard a well- known & respected economist, predicting that we have just passed the worst part of it, and that inflation will be trending lower, over the next 6 months.

 

You'll have to ask the voters of West Virginia. He seems to be popular there.

 

Why is Manchin still a democrat? They have slandered him and called him a racist. He should leave the democrat party and caucus with the republicans. That will fix their wagon by giving control of the senate to the GOP.

Remember that the republicans actually hold the majority of seats 50-48-2. The 2 independents King and Sanders caucus with the democrats which makes it a tie. Manchin could give a huge middle finger to Biden and democrats by becoming independent.

 

Enjoy your celebration, over the "sinking" of our economy. I think your festivities will be short- lived.

Wouldn't that comment have been a better fit, under the OP's noting of Manchin's statements?

 

He appropriately represents his state.

 

Manchin has serious issues with the current GOP, as well. So how would switching Parties benefit him? In truth, he has far more power over legislation, now, than he ever would, as a Senator under Mitch McConnell's leadership.

I don't think he, much, worries about it, but he's in a far better position with the Dems, than with the Trumpist Republicans. Remember, for all Manchin's differences over perspective with Biden, you can be damn sure that's who Manchin voted for-- he is no Trump supporter. But in the current GOP, not toeing the Trump line, consistently, can get you thrown out of leadership, or the Party, entirely.

Not only can Manchin have more independence, as a Democrat, but you are not considering issues by their relative importance. Manchin is for a new Civil Rights Bill, and against all the propaganda about election fraud, as well as, I would guess, views Trump as culpable for January 6th. That would be a tough place to try to be a Republican, these days.

Manchin's smart enough, I think, to stick with the Party with a more stable future, ahead of it.

 

What makes you think that? They have already begun raising the prime rate, and anticipate doing a good many more times, as long as it's necessary.

I think Mia was referring to Manchin, offering solutions, rather than playing the blame game. If you realized that, my question is what are you saying that Manchin is trying to destroy? The economy-- why?

 

You understand that the Federal Funds rate still rounds to zero?

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They raised it from 0.08% to 0.33%

The big difference is the balance sheet. Check this out.

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They hit the zero line and then started loading the balance sheet. They tried to normalize interest rates and roll off some of the balance, but every time, the market rolls over or liquidity locks up and they end up loading everything back on that they unloaded plus a lot more.

Now they are trying again. I think the solution to inflation is robust growth in the supply of goods and services, and in today's economy that is not what we have, we have shortages on a wide variety of goods and services. Medical field, veterinary, construction services, building materials, we're not producing enough goods and services.

I understand why the Fed wants to start normalize it's balance sheet and get rates back to neutral, but, I don't see how this increases the supply of goods and services and I think the economy is going to roll over far quicker than the "experts" are "expecting" and the Fed will have to reverse course again.

The ideal that inflation is due to a "red hot" economy?

Here is the current range of expectations for Q1 that we just finished:

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That hasn't been adjusted for just released inflation report, and inflation was higher than expected, and inflation is a subtraction from real GDP. But, "sizzling hot" it is not.

 

it's a bluff by the FED, once the stock market has issues, wait and see, the fed will take the boot off the economies neck

 

Call it the Spirit of Jan 6th..

The Cult formerly known as the Trump Cult I now call the Death Cult.

Climate Change, Civil War, Jim Crow, resisting Covid vaccine, and more, they've got one stop shopping..

 

After he takes care of his own interests, when there's a little something left over..

 

I don't know why you would assume that, let's say, a half dozen, 1/4 % point raises, so 1 1/2% total, would give the stock market "issues."

Having too much money in the market, so that prices become unjustifiably inflated, can be a much more dangerous "issue."

 

I am saying if it does, we are at a fragile time right now, we have large amounts of debt, we are outsourcing jobs and have supply issues from covid

 

do you think Manchin would vote different based on the letter behind his name