New Numbers Show Inflation is Rising at a Rapid Rate.....

[RMNIXON]

Prediction way back in February:

Biden Economics and Inflation (thepoliticalforums.com)





"Someday Joe you get to be President just like me!"

[RichardMZhlubb]

NO, and you obviously have a poor grasp of fundamental economics!

You guys are ridiculous.

“Parts of the economy contributing the most to inflation in April and May are going through understandable short-term adjustments or merely reflating back to ‘normal’ levels,” said Chris Low, chief economist at FHN Financial in New York. “Areas not impacted by the pandemic are moderating the CPI rise. But this report confirms demand is exceeding supply.”

https://www.reuters.com/article/usa-...-idUSL2N2NR2Q5

[RMNIXON]

You realize that the only way inflation would have been lower in a second Trump term is if the economy had grown more slowly, right? Is that what you would have wanted?

Productive economic growth does not cause inflation. It is caused by massive spending through monetary stimulus while far too many economic sectors continue to be unproductive.

The Spending drives economics lefties in the media have been saying inflation means nothing to worry about for months, and I heard the same tune over 40 years ago. Stay calm all is well predictions prove nothing. Look at Yellen claiming this was a good thing then took it back.

[MisterVeritis]

You realize that the only way inflation would have been lower in a second Trump term is if the economy had grown more slowly, right? Is that what you would have wanted?

This is a lie.

The Beijing Biden regime has manufactured six to nine trillion dollars which it dumped into the economy.

[MisterVeritis]

You guys are ridiculous.

https://www.reuters.com/article/usa-...-idUSL2N2NR2Q5

Why do you believe the lie?

[MMC]

Economists polled by Reuters had forecast the CPI rising 0.4% in May and vaulting 4.7% year-on-year.


The U.S. central bank’s preferred inflation measure, the personal consumption expenditures price index, excluding the volatile food and energy components, rose 3.1% in April, the biggest gain since July 1992. The Fed slashed its benchmark overnight interest rate to near zero last year and is pumping money into the economy through monthly bond purchases......snip~


Reopening U.S. economy fuels inflation, labor market recovery | Reuters



When leftists try to dismiss their own kind they end up looking like idiots.



When a former Democratic Secretary of the U.S. Treasury raises alarm bells about the potential harmful consequences of the current President’s economic policies, it raises home-team Larry Summers, who served as Treasury Secretary under Bill Clinton and director of the National Economic Council under President Obama, has emerged as a leading cautionary voice about how heavy government spending can trigger damaging levels of The crux of his worry is a pronounced lack of faith in the Federal Reserve’s ability to bring an overheated economy under control by raising interest rates without a costly recession.


“The Fed has had almost no success gently bringing down inflation once an economy has started to overheat,“ Summers said in an interview on Friday, May 28, the day President Joe Biden [unveiled a $6 trillion budget. “If you look at the significant disinflation as we have seen whether it’s the three recessions in the 1950s, whether it’s the slowdown at the end of the 1960s, whether it’s 1975, whether it’s the events of 1980 and 1982—they all involved an economy turning to recession.”


Summers, who is currently the Charles W. Eliot University Professor at Harvard University and the Weil Director of the Mossavar-Rahmani Center for Business & Government at Harvard’s Kennedy School, joined TIME for a video conversation on the risks of inflation, labor and supply-chain, and speculative froth and cryptocurrencies.



And I am concerned that we are injecting more demand into the economy than the potential supply of the economy is likely to work out to be. And that will generate overheating. That filling up the bathtub feels great, but if you don’t stop it in time, the bathtub overflows. And it’s much harder to clean up than it would have been to prevent. I have expressed the concern for some months now that we are overheating the economy. And unfortunately, the inflation data has come in way above consensus forecasts.



But in reality, Americans are experiencing maybe the fastest housing price inflation ever. For the first time ever, a majority of houses are selling above their asking price … I see housing as a potential source of accelerating inflation. Usually, the idea is that as demand picks up relative to supply, inflation tends to accelerate. People are looking in a serious way at a quarterly growth rate for the second quarter that might exceed 10%; as that plays through the system, there are likely to be more bottlenecks and more shortages. There’s certainly a real chance that it will all work out. But I think that policy needs to be made balancing risks. And when every restaurant one eats at, every store, every CEO one talks to, are saying that labor is in desperately short supply, it’s probably right.


The more the correction is delayed, the greater the disruption and dislocation.


Inflationary policies tend to disproportionately burden the poor and the middle class relative to the wealthy. And anybody who’s relying on a fixed nominal payment like a pension, is likely to find themselves worse off at periods in which inflation accelerates.


The inflation of the 1970s was an important part of the reason Jimmy Carter was not re-elected. The inflation of the 1960s was an important part of the reason why Richard Nixon was elected. And so I think progressives need to ponder the fact that when they’re not able to keep inflation under control, that they can pay a very large political price......snip~


Former Treasury Secretary Larry Summers on Inflation Worries | Time

[carolina73]

You guys are ridiculous.



https://www.reuters.com/article/usa-...-idUSL2N2NR2Q5

You are not saying anything and neither is your article. They are just claiming this is temporary.
1) It is not temporary
2) The reaction is to hasten replacement of low wage workers

Our industry is not paying employees more. We are not bidding for Yugos. These people that would rather sit home a re certainly not the employees that will be dependable.

As a result, my largest competitor is firing their customers. In other words, you either pay our new prices or go find another supplier. We already did the same.

Your fake government does not reflect what consumers are dependent on.

1) Fuel prices have increased. This is a long term goal of Biden to make fossil fuels expensive. To say that is going away is ridiculous.
Everyone's prices depend on transportation costs and fuel makes certain that they will not decline.
2) Lumber is being consumed by other countries at a large rate. It will come back down from the 3 times pricing but it is still going to remain significantly higher than pre-pandemic. This is your housing prices.
3) Energy prices -NG is being banned from some cities. Including in some brain dead states like MA that are going to try to use solar panels and wind to heat their homes during blizzards. I wonder if these clowns saw Texas this winter.
#2 Heating oil is going to be much higher. 4) Food - Prices for meat may be temporary, but the labor, processing cost and then transportation have permanently risen.
5) Plastics and resins - Oil & Natural gas is used to process most the materials that you to make your electric transportation lighter and more fuel efficient. Your idiot Biden is driving up those costs by about 50% already.

So; Food, Fuel, Housing, Transportation, Heat and AC have all permanently risen by 25% or more and we have not even talked about prices of metals and many chemicals that are petroleum based.

But some government idiot will tell you that your new iPhone has a better camera, so inflation is low.

Everyone I know has gone up 6% minimum but they are all predicting that they will go up again this summer or fall. I am planning on 20% inflation by the end of the year.

$1.80 gas gone to $2.80 is not 4.6%.
$1.79 for a 2 x 4 that has gone to $8 is not 4.6%
$13 for a steak that has gone to $21 is not 4.6%

[MMC]

Here is who is actually ridiculous.



Biden’s Momentous Month of May: Inflation, Border Crossings Surged, Reporters Thrilled by Ice Cream Order


Thats Right leftists in the Lame Stream Media. Just one of the major problems of the country that needs correction ASAP.

[MMC]

You are not saying anything and neither is your article. They are just claiming this is temporary.
1) It is not temporary
2) The reaction is to hasten replacement of low wage workers

Our industry is not paying employees more. We are not bidding for Yugos. These people that would rather sit home a re certainly not the employees that will be dependable.

As a result, my largest competitor is firing their customers. In other words, you either pay our new prices or go find another supplier. We already did the same.

Your fake government does not reflect what consumers are dependent on.

1) Fuel prices have increased. This is a long term goal of Biden to make fossil fuels expensive. To say that is going away is ridiculous.
Everyone's prices depend on transportation costs and fuel makes certain that they will not decline.
2) Lumber is being consumed by other countries at a large rate. It will come back down from the 3 times pricing but it is still going to remain significantly higher than pre-pandemic. This is your housing prices.
3) Energy prices -NG is being banned from some cities. Including in some brain dead states like MA that are going to try to use solar panels and wind to heat their homes during blizzards. I wonder if these clowns saw Texas this winter.
#2 Heating oil is going to be much higher. 4) Food - Prices for meat may be temporary, but the labor, processing cost and then transportation have permanently risen.
5) Plastics and resins - Oil & Natural gas is used to process most the materials that you to make your electric transportation lighter and more fuel efficient. Your idiot Biden is driving up those costs by about 50% already.

So; Food, Fuel, Housing, Transportation, Heat and AC have all permanently risen by 25% or more and we have not even talked about prices of metals and many chemicals that are petroleum based.

But some government idiot will tell you that your new iPhone has a better camera, so inflation is low.

Everyone I know has gone up 6% minimum but they are all predicting that they will go up again this summer or fall. I am planning on 20% inflation by the end of the year.

$1.80 gas gone to $2.80 is not 4.6%.
$1.79 for a 2 x 4 that has gone to $8 is not 4.6%
$13 for a steak that has gone to $21 is not 4.6%

He can't compete with Summers.....and of course Reuters intentionally left out the Spending Problem.

[Cotton1]

You guys do understand that the primary driver here is the rapid expansion in demand following a year of economic stagnation, and that we’d be seeing something very similar if Trump had been reelected, right?

Lol, Harvard