Welcome to Team Red, Lucas. It's about time. You make a great argument for cutting back on government programs.
Inflation hits 20 percent under Biden, pushing small businesses to the brink
- Thread starter NorthernHawkeye
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Welcome to Team Red, Lucas. It's about time. You make a great argument for cutting back on government programs.
LOL @ 20%
Gas has gone up, because it became artificially cheap during the pandemic when no one was driving to work, Cletus. It's still damn cheap.
Exactly, it’s disingenuous to say gas has gone up just like it is to say the unemployment rate has come down in the same period.
Red Tide Rick talking about dishonesty is about the most ironic thing imaginable. If there were a dishonesty hall of fame, he'd be a first ballot inductee.
You honestly believe that the stimulus money in the US caused worse inflation around the world than right here in the US?
How does it affect the cost of all goods that have to be transported around the world?
That is, indeed, their claim.
And despite being asked "how does that work?", they have yet to come up with any explanation...
No. I believe the federal reserve printing all the money and financing all the stimulus created the inflation. Other factors as well, but the money supply will always be the main cause of inflation. Oh. And don”t forget my comment about all the money their central banks printed.
No; it hasn't.
All you've claimed is that "the US Dollar is the world's currency", which explains nothing here.
And, if what you claim is true, then the USD should be trading well BELOW others on currency markets, which is also not the case.
It has been explained numerous times on this board. Go find it.
I really have no clue why hard core blue folk like yourself get so defensive about it. It’s no knock on Biden. It’s the federal reserve.
Nah. It’s been posted on this board numerous times. Want to know, go educate yourself. Look at reserve ratios. Money multiplier. Quantitative easing. Etc…
Today's other headlines:
S&P 500, Nasdaq and Dow all hit record highs after encouraging inflation data
https://www.cnn.com/2024/05/15/economy/consumer-price-index-inflation-april/index.htmlTop analyst updates S&P 500 price target after April inflation surprise
https://www.thestreet.com/investing...0-price-target-after-april-inflation-surpriseS&P 500 Pushes Past Previous Record After Inflation Report
https://www.nytimes.com/2024/05/15/business/stock-market-inflation.html
Dow Jones Futures: Dow, S&P 500, Nasdaq Hit Highs, Nvidia Leads 12 New Buys; What To Do Now
Futures: Market Rally Hits Highs, Nvidia Leads 12 New Buys
The Dow Jones, S&P 500 and Nasdaq all set record highs.
www.investors.com
Now, let's look at some other recent headlines from your OPINION PIECE writer, Alfredo Ortiz:
Entrepreneurs Face Major Headwinds
realclearpolicy.com
Jobs Report Shows the Specter of Stagflation
The Daily Caller
Under The Hood, The Jobs Report Is Not Strong
The Daily Caller
Mr. Ortiz also writes for ALEC, The Daily Signal, and Breitbart. Probably some others as well. He writes Opinion Pieces.
Today's other headlines:
S&P 500, Nasdaq and Dow all hit record highs after encouraging inflation data
https://www.cnn.com/2024/05/15/economy/consumer-price-index-inflation-april/index.html
Top analyst updates S&P 500 price target after April inflation surprise
https://www.thestreet.com/investing...0-price-target-after-april-inflation-surprise
S&P 500 Pushes Past Previous Record After Inflation Report
https://www.nytimes.com/2024/05/15/business/stock-market-inflation.html
Dow Jones Futures: Dow, S&P 500, Nasdaq Hit Highs, Nvidia Leads 12 New Buys; What To Do Now
Futures: Market Rally Hits Highs, Nvidia Leads 12 New Buys
The Dow Jones, S&P 500 and Nasdaq all set record highs.
Now, let's look at some other recent headlines from your OPINION PIECE writer, Alfredo Ortiz:
Entrepreneurs Face Major Headwinds
realclearpolicy.com
Jobs Report Shows the Specter of Stagflation
The Daily Caller
Under The Hood, The Jobs Report Is Not Strong
The Daily Caller
Mr. Ortiz also writes for ALEC, The Daily Signal, and Breitbart. Probably some others as well. He writes Opinion Pieces.
Those headlines are much better. Well. Op wasn’t even a headline. Just fear mongering BS.
+23 pts awardedToday's other headlines:
S&P 500, Nasdaq and Dow all hit record highs after encouraging inflation data
https://www.cnn.com/2024/05/15/economy/consumer-price-index-inflation-april/index.html
Top analyst updates S&P 500 price target after April inflation surprise
https://www.thestreet.com/investing...0-price-target-after-april-inflation-surprise
S&P 500 Pushes Past Previous Record After Inflation Report
https://www.nytimes.com/2024/05/15/business/stock-market-inflation.html
Dow Jones Futures: Dow, S&P 500, Nasdaq Hit Highs, Nvidia Leads 12 New Buys; What To Do Now
Futures: Market Rally Hits Highs, Nvidia Leads 12 New Buys
The Dow Jones, S&P 500 and Nasdaq all set record highs.
Now, let's look at some other recent headlines from your OPINION PIECE writer, Alfredo Ortiz:
Entrepreneurs Face Major Headwinds
realclearpolicy.com
Jobs Report Shows the Specter of Stagflation
The Daily Caller
Under The Hood, The Jobs Report Is Not Strong
The Daily Caller
Mr. Ortiz also writes for ALEC, The Daily Signal, and Breitbart. Probably some others as well. He writes Opinion Pieces.
No; it simply has not.
You cannot show me where USD exchange rates demonstrate USD inflation against other currencies
Not one Western currency shows the USD "inflated" against them
Dollar vs other top currencies 2001-2024 | Statista
A dollar vs 10 other world currencies graph reveals the U.S. dollar weakened somewhat in early 2023, although it remained relatively strong.
www.statista.com
Northern, Ryan, 50k, Rifler, Doobi, Tyler is curious, TJ, Kwik, Hexum...
Indeed. In Iowa private groups are meeting the demand of record setting food insecurity under Republican leadership. Food pantries are the one industry booming in Kim's economy.
https://www.kcrg.com/2024/05/15/dem...e-break-records-with-an-emergency-level-need/
Don't they teach math in Iowa? This ain't exactly calculus we're talking about here.
Funny how you don’t need to be pointed in the right direction when Trump is calling immigrants cannibals
Consumer Price Index, April 2024 - 313.548
Consumer Price Index, January 2021 - 261.582
313.548 / 261.582 = 1.19866046
You're right about two things:
1) It ain't calculus. It's basic division, which I learned in fifth grade.
2) It ain't 20%. Technically, it's only 19.866%.
The direction was obvious in that thread. Hell, you even agreed that I was correct. It just pissed you off that I had the nerve to be correct.
The direction in this thread isn't as obvious. The 20% figure is mostly correct, as I explained above. Do you want me to attack the messenger? The Hill is generally considered to be balanced and accurate. But this was an opinion piece and The Hill clarified that the opinions stated in the article were the author's and not The Hill's.
I don't know anything about the author, Alfredo Ortiz. Maybe he's a dick and I can attack that angle.
All you have to do is tell me where you want me to "go all TJ" and I'll see what I can do.
And that's not how inflation is measured, until the ideologically impaired decided that they needed to go back a few years and start adding them together to keep the narrative going that inflation is out of control. The current inflation rate is measured by change from one year to the next. As everyone knows, inflation spiked worldwide in 2021 and 2022 primarily due to covid supply side disruptions. It was 4.7 in 2021, 8.0 in 2022, and 4.1 in 2023. It's running at 3.4% most recently. Higher than what the Fed wants, but hardly runaway as the ideologically impaired would characterize it.
Hey guess what? GDP growth under Biden hit 30% last year! Gotta be some kind of record!!!
I hate to be the bearer of bad news here, but there are multiple ways to measure and express inflation.
It can be expressed as an annualized rate, as you pointed out. But that’s not the only way. It is also frequently expressed as a monthly year-over-year rate. And it can also be expressed as the change in the cost of living between any two points in time. Themelrosauler even posted an image of the CPI Inflation Calculator from the U.S. Bureau of Labor Statistics.
No one tried to pass the 20% figure off as an annualized rate. I pointed out in post #7 that it most likely was referring to the cumulative increase in the cost of living since Biden took office. And guess what - I was right. If you follow the link in the OP it makes it clear that the author is referring to cumulative inflation under Biden.
Perhaps you should email the United States Department of Labor and tell them to remove that f*cking CPI Inflation Calculator from their website. Explain to them that only the ideologically impaired measure inflation that way.
It's just a calculator for measuring cumulative inflation over time. Inflation has never been expressed as a cumulative rate over a period of years until recently, again by the ideologically impaired. And writing a headline of:
Inflation hits 20 percent under Biden
isn't misleading at all. Inflation is at 3.4% today, under Biden. I'm not even arguing that he had anything to do with bringing down just like he had little to do with it going up all over the world. I just get tired of all of the dumb asses adding together years of inflation to keep a 2 year old narrative alive. It makes about as much sense as comparing the price of gas today vs when Biden took office and the entire world had stopped. It's ****ing stupid.
The shelves were bare because businesses were shut down. Supply chain. Manufacturing etc. Not because Trump was a bad President.
Why dont you start perpetuating the '9% inflation when Biden took office' lie as well?
The headline is only misleading if you read only the headline and make incorrect assumptions without bothering to read the actual article.
Agreed. Kind of like how dumb it is when comparing employment numbers from trumps last year in office to Biden’s first year. Amirite?
I’m in no way defensive. Check the causes for worldwide inflation and every financial entity cites the surge in oil prices, pent up demand released after Covid, supply line breakdowns, Ukraine, labor shortages, and other factors. Money supply is certainly part of it but anyone who tries to claim it’s THE cause isn’t worth listening to.
So I won’t.
I could not care less if you listen or not. It us 100% the primary cause of this inflation. Even the federal reserve has said it is the primary cause, because, well, duh.
Yeah, it has. Don’t want to educate yourself? I could not care less.
No; it simply has not.
You cannot show me where USD exchange rates demonstrate USD inflation against other currencies
Not one Western currency shows the USD "inflated" against them
Dollar vs other top currencies 2001-2024 | Statista
A dollar vs 10 other world currencies graph reveals the U.S. dollar weakened somewhat in early 2023, although it remained relatively strong.
Who said anything about it inflating against other currencies Cletus?
The dollar has held relative strength due to our economy and our rates are better than most, if not all, other developed countries. You get this, right?
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