The root cause of increase in inflation worldwide is sudden and unprecedented increase in crude oil and food prices triggered by Ukraine war which could have been prevented if Biden had negotiated with Putin and addressed his security concerns about NATO. Unfortunately war has already started and it won't end unless one side is defeated which will not happen so soon.
Inflation is an excessive increase in the money supply. The root cause of the rise in prices in the US was the irresponsible policy of the Fed during the covid-19 pandemic.
Topic: Biden's dilemma on inflation (Read 89 times)
Biden should get his misinformation board on this blog post to do some fact checking.
"Tax the rich" slogan was bound to appear in this nonsense. Raising taxes does nothing to fight inflation. The money supply was increased and the economy was artificially stimulated during the COVID lockdowns and the ramifications were predictably high inflation rates. The cost of raw goods does not change despite what the tax rate is. Manufacturers and producers still have to pay elevated costs to produce their goods, and those costs are passed down to the consumer.
We know this because the PPI has sharply increased over the last two years: https://fred.stlouisfed.org/series/PPIACO
"Putin price hike," they say.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
Steep increase in gas prices in Nov. 2020 when Biden is elected. The energy sector reacted to Biden's election win.
"Go buy a 50k USD electric vehicle."
Biden seems fixated on shilling for the green energy sector. In a time of economic crisis, I'm sure many of his voters have the wherewithal for an electric vehicle.
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President Biden has a plan to tackle inflation – by lowering costs that families face and lowering the federal deficit by asking the large corporations and the wealthiest Americans to pay their fair share. Congressional Republicans, led by Senator Rick Scott, have called for a new minimum tax on the middle class – firefighters and teachers – that would mean an average of almost $1,500 less in families’ pockets each year. And, while part of President Biden’s plan to lower costs is to strengthen Medicare by giving it the power to negotiate prescription drug prices, the Congressional Republican plan would put Medicare – in addition to Social Security, Medicaid, the Affordable Care Act and other critical programs for American families – on the chopping block every five years.
"Tax the rich" slogan was bound to appear in this nonsense. Raising taxes does nothing to fight inflation. The money supply was increased and the economy was artificially stimulated during the COVID lockdowns and the ramifications were predictably high inflation rates. The cost of raw goods does not change despite what the tax rate is. Manufacturers and producers still have to pay elevated costs to produce their goods, and those costs are passed down to the consumer.
We know this because the PPI has sharply increased over the last two years: https://fred.stlouisfed.org/series/PPIACO
Quote
Blunting the Impact of Putin’s Price Hike: Addressing Putin’s price hike at the pump by releasing 1 million barrels of oil per day from the Strategic Petroleum Reserve for the next 6 months; rallying our allies to release an additional 60 million barrels of oil from other countries’ reserves; allowing E15 gasoline (which uses homegrown biofuels) to be sold this summer; and calling on Congress to make companies pay fees on idled wells and non-producing acres on Federal lands – so that companies that continue to sit on excess capacity will have to choose whether to start producing or pay a fee.
"Putin price hike," they say.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
Steep increase in gas prices in Nov. 2020 when Biden is elected. The energy sector reacted to Biden's election win.
Quote
Lowering Energy Bills: Calling on Congress to pass clean energy and vehicle tax credits and investments that will reduce our dependence on reckless autocrats like Putin, save families an estimated $500 per year on their utility bills, and accelerate homegrown clean energy innovation – from producing more clean energy to bolstering our domestic supply chains that are critical for clean energy and clean transportation.
"Go buy a 50k USD electric vehicle."
Biden seems fixated on shilling for the green energy sector. In a time of economic crisis, I'm sure many of his voters have the wherewithal for an electric vehicle.
I think Biden is absolutely screwed at this point when it comes to inflation. He ignored the Fed and let his administration run wild to cash in as much as they could during the covid debacle, leading to an insane expansion of the money supply. No amount of tax credits is going to change that. In fact, I would say some of the things he is planning will have an upward pressure on inflation numbers. I've never seen the government manufacture a recession before, and leave it to them to always overcorrect, so things could get a little crazy in the next couple of years. We may soon see a return to 'Cash is King' as assets dip to bargain basement prices over the next 18 months.
The root cause of increase in inflation worldwide is sudden and unprecedented increase in crude oil and food prices triggered by Ukraine war which could have been prevented if Biden had negotiated with Putin and addressed his security concerns about NATO. Unfortunately war has already started and it won't end unless one side is defeated which will not happen so soon.
I think Biden is absolutely screwed at this point when it comes to inflation. He ignored the Fed and let his administration run wild to cash in as much as they could during the covid debacle, leading to an insane expansion of the money supply. No amount of tax credits is going to change that. In fact, I would say some of the things he is planning will have an upward pressure on inflation numbers. I've never seen the government manufacture a recession before, and leave it to them to always overcorrect, so things could get a little crazy in the next couple of years. We may soon see a return to 'Cash is King' as assets dip to bargain basement prices over the next 18 months.
Biden was screwed even before the election yet he got elected anyway. TPTB don't give a fuck about Biden's mental/body health as long as he is capable of repeating the words what they told him. Trump wasn't their guy so they mocked his smallest mistakes and now the US has this train wreck of a president and MSM don't care. They got what they want. A useful muppet which takes and follows orders successfully.
Covid is no more around where I live. Nobody gives a damn about the masks, no social distance, fuck that. I hear of no sick people anymore no more. I was never vaccinated, never covid tested once, never got sick but I lost quite a lot of money and half of my business because of the fear they spread.
I think Biden is absolutely screwed at this point when it comes to inflation. He ignored the Fed and let his administration run wild to cash in as much as they could during the covid debacle, leading to an insane expansion of the money supply. No amount of tax credits is going to change that. In fact, I would say some of the things he is planning will have an upward pressure on inflation numbers. I've never seen the government manufacture a recession before, and leave it to them to always overcorrect, so things could get a little crazy in the next couple of years. We may soon see a return to 'Cash is King' as assets dip to bargain basement prices over the next 18 months.
The government of the US have been hit with an unpredictable and unpleasant return in the rapid increase of prices and this has put a dent in the "impeccable" rule of Biden.
The first case of inflationary surge was recorded in the early 1970s to 1980 and certainly most Americans may no be aware of this that's why this comes as a shock.
Citizens of America are looking up to the government to proffer a solution towards this matter at hand as it is causing a strain on the economy, because they feel he isn't paying much attention to it.
Admittedly, all presidents face unexpected disruptions to thier plans and for the case of Biden, inflation is it
Does he have a plan in the works or will this upend his administration? Your thoughts...https://www.whitehouse.gov/briefing-room/statements-releases/2022/05/10/the-biden-harris-inflation-plan-lowering-costs-and-lowering-the-deficit/
The first case of inflationary surge was recorded in the early 1970s to 1980 and certainly most Americans may no be aware of this that's why this comes as a shock.
Citizens of America are looking up to the government to proffer a solution towards this matter at hand as it is causing a strain on the economy, because they feel he isn't paying much attention to it.
Admittedly, all presidents face unexpected disruptions to thier plans and for the case of Biden, inflation is it
Does he have a plan in the works or will this upend his administration? Your thoughts...https://www.whitehouse.gov/briefing-room/statements-releases/2022/05/10/the-biden-harris-inflation-plan-lowering-costs-and-lowering-the-deficit/
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