The Second coming of Jimmy Carter as inflation rates continue to climb

On the one hand there is no way out of all of this debt we are creating other than inflation, on the other there are almost no tools available now to control inflation and the tools we do have power does not want to use. This ramp up will continue. If we followed the trend of the first four months of the year we would be at 20% by New Years Day. It sure looks like we are still on that trail.
 
Geeko Sportivo said:
You made some great points and then wrapped it up with an insult just so you can show everyone what a hateful politically jilted asshole you are!
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The goods have not been brought up to old production levels. They are economically scarce. The hiring is lagging. The economy is not back to normal. It has a higher potential level once it all comes back.
 
Nordberg said:
The goods have not been brought up to old production levels. They are economically scarce. The hiring is lagging. The economy is not back to normal. It has a higher potential level once it all comes back.
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all true. The question is when does it get back to where it was?
We had a great economy going into those damn lockdowns -
Biden seems to think pumping out more money is going to do it.. i dont
 
MAGA said:
https://www.foxbusiness.com/economy/americans-inflation-fears-consumer-prices-surge

Democrats hurt their base the most with inflation and wonder why their constituents lose faith.
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Well after four years with the tRump atrocity and the destructive rampaging it has created, it is the former lawlessly hacked in tRump insurgency to look at when it comes to the issue of inflation and not the current administration that inherited tRump's economic atrocities, and to which extreme methods must be done in order to deal with the disastrous affects of the tRump curse on humanity and the global economy too:

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years
The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.

Trump’s lesser known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt.

The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.

The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war."

Hopefully efforts will be put in place to avoid making this terrible mistake again at lawlessly hacking a foreign owned tyrannical creature in there, and its also the fault of idiot voters who were partly at fault at giving foreign enemies and repukes the leverage to drop the hacked in tRump bomb on humanity as a curse.

https://www.propublica.org/article/national-debt-trump
 
Actually and hopefully it will be a second coming of the powers of America coming to the rescue against the repuke, the gutter tRump sewer conspiring filth and the GQP insurrectionist enemy from within in as a imminent threat to the common decency of global humanity.
 
gemini104104 said:
Well after four years with the tRump atrocity and the destructive rampaging it has created, it is the former lawlessly hacked in tRump insurgency to look at when it comes to the issue of inflation and not the current administration that inherited tRump's economic atrocities, and to which extreme methods must be done in order to deal with the disastrous affects of the tRump curse on humanity and the global economy too:

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years
The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.

Trump’s lesser known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt.

The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.

The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war."

Hopefully efforts will be put in place to avoid making this terrible mistake again at lawlessly hacking a foreign owned tyrannical creature in there, and its also the fault of idiot voters who were partly at fault at giving foreign enemies and repukes the leverage to drop the hacked in tRump bomb on humanity as a curse.

https://www.propublica.org/article/national-debt-trump
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Obamacare was the carryover debt, it causes more debt that any other piece of legislation, now Biden intends to set a new record. It SALT comes back that takes 600 billion in revenue away from the government
 
Hawkeye10 said:
On the one hand there is no way out of all of this debt we are creating other than inflation, on the other there are almost no tools available now to control inflation and the tools we do have power does not want to use. This ramp up will continue. If we followed the trend of the first four months of the year we would be at 20% by New Years Day. It sure looks like we are still on that trail.
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You are comparing two unrelated things as if they were related. They are not.

The federal government is spending far more than it collects in taxes. It must therefore borrow or print money to pay it's bills.
Options to borrow are going down. Issuing too many bonds means you have to raise yield to entice people to buy them. It is the price the government pays to issue the bond. That money has to come from somewhere.

Increasingly, the only option left is to print money. The federal government is broke, an has been for many years. There is no way out of the mess they've put themselves in.

Taxing your way out of it causes revolts.
Borrowing your way out of it causes a debt crash.
Printing your way out of it causes a cash crash.

As for people themselves, they create their own wealth. That's what capitalism is. They will use whatever currency they trust. No government can force otherwise. They will naturally try to resist any government that comes to steal their wealth. That is not to say all taxes are evil. People form governments for specific purposes and are willing to fund them. Beyond those purposes, it becomes theft.

Hence the concept of a republic.

What you are seeing is not the result of a republic. It's the result of the federal government no longer honoring the Constitution that created it. Such a government is not a republic, it's an oligarchy or dictatorship. In the case of the federal government, an oligarchy. The Democrats want an oligarchy to implement fascism and communism, both socialism, which is theft of wealth.
 
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