Armchair Militant
Stay woke
Reduce demand by making millions of Americans poorer
Inflation is back. Biden should be worried
- Thread starter DEAD7
- Start date
Outlaw
New Hope For the HaveNotz
Why isn’t Biden doing more to improve the supply chain issue? Is there anything that he can do?
mastermind
Rest In Power Kobe
exactly And It won’t work. It’s just stupidity at this point.Reduce demand by making millions of Americans poorer
well it seems like he wants to throw millions into unemployment and you seem fine with that? Am I understanding your post correctly?
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Outlaw
New Hope For the HaveNotz
No I’m genuinely asking what he can do to fix the supply side of the economy. Technically he isn’t interfering because the Fed is supposed to act independently of the executive branch.
I read on CNBC that lifting Trump tariffs on China could help with supply issues. Maybe that would be a good first step. I think he should also do more to incentive people to go into supply chain jobs and encourage more manufacturing in America
mastermind
Rest In Power Kobe
This is how I feel too. We saw at the start of the pandemic that we didn’t have masks, ventilators and other stuff for medical staff because we were got That equipment from China. We know Trump did fukk all to change that and we haven’t seen Biden change that either.
More manufacturing needs to be done in America, but if He is taking advice from that monster Larry Summers then he probably will do the opposite. Its goofy because there is this belief that the stimulus checks are why we have this, but Summers and others don’t question the trillions of dollars the government has given corporations to keep them afloat since 2008, and that went crazy during the pandemic.
My fault for misunderstanding your original post.
If you’re referring to what summers said - it is idiotic of him. But everyone has to stop being disingenuous as pointing towards one specific reason for inflation instead of the cumulative factors of supply chain issues, Monterey/fiscal stimulus/ 2nd order effects of lockdowns (shifting mass demand into specific sectors at the same time).
So, then, we'd have to analyze Distribution & Marketing as well as Refining Costs to see if they're gouging or it's an actual increase in costs.53.6% - Price of crude
16.4% - Federal and State Taxes
15.6% - Distribution and Marketing
14.4% - Refining Costs
Source: EIA.gov
Factors affecting gasoline prices - U.S. Energy Information Administration (EIA)
The major factors that affect gasoline prices and the components of retail gasoline pump prices.www.eia.gov
Distribution and refining costs would deff have gone up. Shipping is more expensive as is the labour.
Taxes haven't changed...Crude hasn't changed...
Actually, if we're adjusting for inflation, Crude has gone down.
mastermind
Rest In Power Kobe
Everyone knows it’s hard to get the global economy back in order after stopping it for a period of time. We are seeing the impact of that. Everything that comes from that is that.
I don’t accept giving stimulus checks to the poorest Americans as being a reason.
Ethnic Vagina Finder
The Great Paper Chaser
Most people don’t even understand the cause of inflation
Nor does anyone care. As soon as gas prices go down there won't be any inflation talk
ogc163
Superstar
This thread aged like fine wine. 9.1% YoY inflation with no signs of slowing.
Even when you strip out energy and food you’re at ~6%.
This was the Fed’s doing all along. Media did a disservice trying to pin the narrative on supply chains, War in Ukraine (does have an effect but inflation was hot before the war), etc.
We’ll prob see 10% before the end of the year, or close to it.
Even when you strip out energy and food you’re at ~6%.
This was the Fed’s doing all along. Media did a disservice trying to pin the narrative on supply chains, War in Ukraine (does have an effect but inflation was hot before the war), etc.
We’ll prob see 10% before the end of the year, or close to it.
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I never bought into this either. It always seemed like a mute talking point. I guarantee most of the stimulus money circulated back into the economy within a month or so.
Stimulus checks are just one part of the equation that was a massive increase in the money supply in the past 2-3 yrs.
EDIT: For everyone saying this is price gouging, supply chains etc, take a look at the M2 Money supply on FRED.
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