fallout from the "free money"

[charley]

I don't know what to do. Everything seems to be crumbling. The Biden administration will create huge inflation with all the help money.
The printing of money will create inflation. When that money runs out we will be left broke again with a worse situation of more debt, and most of the world still out of work with super inflation. What will we do then? Keep printing money? How is this going to help the increasing problems? There is no free lunch.
What we need is deflation not inflation.
Out of control inflation, taxes and the increasing gap between inflation/cost of living and jobs/wages has destroyed the economy a long time ago with jobs leaving for overseas and wages not keeping up with the insane rising costs of inflation. The destructive cycle keeps going. If the new administration wants to help stop the destructive behaviour.

 

[FrancSevin]

Whilst you are blaming President OBiden, blame Pelosi, Schumer Bush43 and Nixon.

Yep, both sides of the aisle.

Inflation is incontrollable and destined to rise when it is based on the supposed will of the people instead of hard assets.

And next on the list of stupid ideas, is going virtual with our currency. Coming soon to every bank near you.

 

[Melensdad]

Is there a recent administration that has not been a major contributor?

Honestly I do wonder if our deck of cards will crumble under Biden, he and his crew are making it worse.

 

[iceberg210]

Inflation has been largely flat since the 60's except for the period in the seventies where price controls were put on, and then taken off along with the gold standard that accelerated pent up inflation that they had artificially held down over time. Volker's increased interest rates squashed inflation in the early 80's bringing us down to the economically preferred rate of 0-3 percent.

Inflation, GDP deflator (annual %) - United States | Data

Inflation, GDP deflator (annual %) - United States from The World Bank: Data

data.worldbank.org

 

[charley]

Inflation has been largely flat since the 60's except for the period in the seventies where price controls were put on, and then taken off along with the gold standard that accelerated pent up inflation that they had artificially held down over time. Volker's increased interest rates squashed inflation in the early 80's bringing us down to the economically preferred rate of 0-3 percent.

Inflation, GDP deflator (annual %) - United States | Data

Inflation, GDP deflator (annual %) - United States from The World Bank: Data

data.worldbank.org

what? That chart is nothing but propaganda lies. We have had more inflation in the last 50yrs since 1970 than all history put together.

 

[FrancSevin]

The GDP Deflator chart is not lies. However, neither is it a measure of inflation but of inflation as it relates to the GDP.

Like the consumer price index (CPI), the GDP deflator is a measure of price inflation/deflation with respect to a specific base year; the GDP deflator of the base year itself is equal to 100. Unlike the CPI, the GDP deflator is not based on a fixed basket of goods and services; the "basket" for the GDP deflator is allowed to change from year to year with people's consumption and investment patterns.
Wikipedia · Text under CC-BY-SA license

It is not a reliable measure of the deflation of the value of a dollar ie; what is commonly referred to as "inflation"

A loaf of common sandwich bread in 1968 cost $0.10 cents. I know this because I put the purple price on every loaf when I worked at the grocer. Today the bar code tell the cashier program the same loaf cost $2.90. The bread is actually worth exactly the same because it is the same commodity. It is as available as it was in 1968 so there is no reason for the need for 25 times more currency than that the value of the currency has been reduced, AKA "deflated."

Odd that once we went off the gold standard, the government could increase and decrease the money supply at a whim. Now they canliteraly do it by pressing "enter" on a keypad. And gold is therefore not actually worth any more, in the context of goods and services, today ate $1850.00 per troy once than it was in 1968 at $35.00

The lie is that it is and so is the dollar. Bullsh!t And all administrations since 1968 are guilty of telling that lie.

Worse, to me, is that the public is guilty of believing the lie for the last 50 year.


I spec'd a project last year at $8,000.00 for the material kits to construct it. We delayed the project because our factory was too busy due toCOVID_19, for me to takeoff the time to build it. Today we decided to proceed. The very same kits now cost just under $9,400.00. That is not a price hike of 15% but a devalue of the dollar. The term that applies is "inflation."

Yeah, President Trump and the Pelosi/McConnell Congress did it also.

Stop looking at the party's involved and look at the folks who continue to put them in power.

For the record, I voted for Nixon and For Trump. Owen it or shut it.

Charley doesn't know what to do. I get that. I think we all feel that way.

My advice. Take every step we can to insure the next election, from dogcatcher to Senator is honest. Insist on it. It is no longer to assume this is the job of the election board to do that. They have proven incompetent to the task. Be stubborn. Be bold. But, be careful and legal. Get involved.

Or shut it.

 

[charley]

francsevin#6..>>>>>Get involved. Or shut it.<<<<Wow, slow down Franc. That was an unfair shot. You don't know me or what I have been through. I did get involved way back.
I'm sure we all have our own story on what happened to us and how we got hurt from all the nasty things that have happened.
I don't have the power and resources to fight back against these gangsters and the crooked politics even on the local level in my area. They all lie to get elected.
There are a lot of traditional constitution and common laws that have been discarded way back because of the failed economy.
The system is a complete failure. Every branch of gov't local and in D.C is dysfunctional shifted into a behaviour of whatever works to keep jobs and the economy turning including throwing anybody under the bus that gets in the way.
Your advice on "get involved" has become maybe dangerous even with the local gangsters in the area. There is no accountability. Never has been. It's been a slow meltdown through the decades. The situation is way beyond bad.