Dems inflation over 8%….great job…exceeded my expectations!!! Biggest drain of middle class wealth ever!

kwik44

HR Heisman
Gold Member
Mar 6, 2003
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This is deliberate. Manchin now ripping Biden Administration. The second it drops to 8.1%, they will try and claim victory. Pure dumpster fire.
 

red/green hawk

HR Heisman
Oct 28, 2009
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Inflation is the result of over bloated budgets going back to 2001. Not one admin gets full blame because every one going back 20 years is guilty of it. Manufactured out of thin air dollars backed by treasury notes going everywhere and overloading the market. If not corrected this WILL lead to hyperinflation. Biden is not solely to blame. Where he can be blamed is his failure to recognize the problem and quadrupling down on policies that have led to this problem.
 

mnole03

HR Legend
Mar 20, 2005
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And here’s the money supply. Who was President in 2020?
FRBDATARWL.jpeg
 

Fijimn

HR Legend
May 7, 2008
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And/or in gold also. This entire thing could backfire on us here...there is going to be a strong push to remove the dollar as thee standard...
I haven’t read anything to suggest they are using gold to buy. That would be very difficult. Russia is trying to tie the ruble to gold at 5000 - 1. But they stopped that plan last week
 

seminole97

HR Legend
Jun 14, 2005
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Why does inflation drain wealth only from the middle class? Why not the upper class?
The upper class use leverage to buy assets that enjoy the fastest appreciation (above the inflation average).

The bottom 90% are accruing debt (facilitated by the inflationary expansion of credit) faster than assets.
But by saying 'overall' you can hide the disparate enjoyment of the new wealth:

RCI4QFq.png
 

red/green hawk

HR Heisman
Oct 28, 2009
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I haven’t read anything to suggest they are using gold to buy. That would be very difficult. Russia is trying to tie the ruble to gold at 5000 - 1. But they stopped that plan last week
I heard something today about it. I'll try to find it. But either way they've found a way around sanctions.
 

Roy L Fuchs

HR MVP
Nov 23, 2012
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As I said in the other thread about this, you can thank COVID and Putin for this.
Oil was up over 50% before the invasion, inflation was over 6% before the invasion. Oil price was less and demand much higher in 2019 because of Trumps energy policies that made sense. Stop blaming Putin for failed Dem policies.
 
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mnole03

HR Legend
Mar 20, 2005
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Oil was up over 50% before the invasion, inflation was over 6% before the invasion. Oil price was less and demand much higher in 2019 because of Trumps energy policies that made sense. Stop blaming Putin for failed Dem policies.
New exploration and development stopped when Covid hit. Now it lags demand on the bounce back.

Production is higher now than when Trump left office.
 

seminole97

HR Legend
Jun 14, 2005
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And this is one of the themes I constantly attack on here: Poorly formed arguments.

If you are against inflation, then be so for all.
Not everything affects people the same way:

"If inflation made the price of my assets go up faster, and in greater amount, than inflation raised the cost of my consumption, why would I consider it bad?" - rich guy

"I don't have much or any assets, but inflation drives up the prices for the goods and services I consume. Why would I consider this good?" - poor guy
 

FAUlty Gator

HR Legend
Oct 27, 2017
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Why does inflation drain wealth only from the middle class? Why not the upper class?
It’s a transfer of wealth from one to the other. 20% of the population buys 80% of the goods. And a huge chunk of that 20% is the middle class. The upper classes have savings to get them through times like this as well.
 

MitchLL

HR Legend
Dec 26, 2018
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I'm guessing at least half this inflation number is rising gas prices.

Now that fuel prices are declining, bigly, in most areas, I would expect a significant drop next month.

I paid $3.15 in Omaha yesterday. 10 days ago, it was $3.45.