The inflation hurts everyone: rich, poor, government, thieves. Everyone is affected by by inflation. Even a thief has to rob more to be able to buy the same. Government, that prints more in hope of buying more, cannot purchase the same due to inflation. If US continues to create the inflation in hope of killing debts and making everyone happy, it will kill the US economy. Money printing is not economic growth, nor is inflation an economic growth.
Meaning prices have been in a downtrend for 8 years, and it wasn’t even a news story.
I loved inflation in the 70s. Put 20% down and doubled my money in a year.
It is back in the BA… of course Manch does not believe it. Take your Zillow values and add 20%
Maybe inflation is the new normal. There’s not a day without at least one proposal for more free stuff. They are spending the proposed tax increases about 20x over.
Why not open up forests for logging. Get rid of the EPA, zoning planning and building. The government is driving up costs more than anyone. The say the want more housing and ADUs but it costs over $100k in fees just to get a permit to build one house. In most cases it costs at least $30k before construction can start on a ADU. And about $2-300/sf to build. A 1000sf ADU will cost $300k… I doubt many will be built
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It’s about taking control and destroying capitalism. All the academics can’t mentally process that capitalism produces better results than their beloved socialism. They are going to force socialism on this country one way or another. The saddest part is they’re getting people to vote for it, because people just react emotionally and don’t ask critical questions.
What modern farming is like.
Under Trump we had the fastest GDP growth AND the fastest wage growth in years. Neither lead to inflation. Historically neither has. Inflation is a monetary phenomenon and with 6 trillion in new borrowing on the table we will get it with or without a boost in growth and wages.
When was that exactly? I guess if you count the Covid rebound in Q3 2020 (33%!) but pre-Covid the most recent peak was Q2 2014. I forget who was president then…
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We rose to nearly 4% in 2018 with unemployment all the way down to 3.5%. And of course the Reagan boom was accompanied by declining inflation. Other booms - late 1800’s, 1920’s - were also characterized by falling and not rising prices. High growth and low unemployment do not, in and of themselves, cause inflation.
The dems are taught deflation is bad and inflation is good. Why? Dems are basically borrowers and spenders and believe that through inflation, they will be able to get rid of their debts without paying back. So, basically they can spend as much they like without working hard to earn it.
At this point we will almost certainly have to inflate our way out of debt regardless of where we go from here. The middle class and poor will be crushed as they have been in every other country that followed this path.
I notice gold is back up over $1800 an ounce now.
And dems are talking about getting rid of credit limit and printing limit on government. An economic disaster in waiting. More blue tents in a park near your home.
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So are you going back to India? May be also buy a boatload of BTC, ETH and DOGE.
I am not sure how much useful BTC, ETH or DOGE will be in an even of currency breakdown. Hold on to hard assets? But for how long? But, the problem is that an out of control government can confiscate your land, deny you ownership rights on your real estate. Put moratorium on eviction or put rent control. Owning gold can be outlawed (like FDR did in 1930s). In california, they are going to use your tax dollars to put homeless people into hotels.
Come back next year and marvel at the decade low unemployment and massive GDP growth in 2022. BTW unemployment has been falling since Obama times.
Are you really bragging about GDP growth after spending how many trillions in stimulus? The efficiency of that is awful. You’re the same guy that was crying about budget deficits after Trump’s tax cut. Now you want Biden to spend and deficits don’t matter.
Tax cut is also stimulus.
I never said deficit doesn’t matter. It matters. But the deciding factor is how you use that money. Wasting it on tax cuts while our infrastructure is crumbling is beyond irresponsible.
Remember the hyperinflationary time of 2011? Me neither.
Do you actually look at where the spending goes? It’s usually <25% going to the headline purpose of the bill. Nothing is passed without everyone adding their own special interest spending to buy their vote.
We should have accountability for infrastructure spending before adding more money. We’re essentially giving a drug addict more drugs and wondering why they’re still an addict.
Oh, and some how tax cuts don’t lead to inflation the way the government spending money directly does. Tax cuts put more money into the hands of people who allocate capital more efficiently.