Inflation drops to 4.9%

PostmodernProphet said:
sure we can.....we have both apples and oranges......the jobs were sitting there waiting for people to go back to them after the shut down.....inflation wasn't.......
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Wrong.,


You can look at every Covid job left during Trumps watch, and add them all back and exclude them from the ledger (or not credit them to Biden) and the jobs growth Biden has got not counting those still out paces Trump job growth rate.

So even with the covid effect on jobs out, Biden gets credit for the massive jobs gains.
 
QP! said:
There is no question any more.

Bush Sr, hands CLinton an economy in Recession.
Clinton turns it around and hands Bush Jr a booming economy.
Bush Jr turns it around and hands Obama an economy in or heading towards recession.
Obama turns it around and hands Trump a booming economy.
Trump turns it around and hands Biden in or heading towards recession.
Biden is in the midst of turning it around...


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What would you expect the Democrats to say about this? After all, that's who you are citing.
 
T. A. Gardner said:
What would you expect the Democrats to say about this? After all, that's who you are citing.
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Those stats are not democrat stats. they are factual stats and simply googling "economic performance Democrat versus GOP POTUS' will show you endless examples such as those.
 
Jarod said:
Historically speaking, it is very low.
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Do you just say stuff nonsense and expect people to believe you?

The target rate is 2% or below, it is more than double the target rate that is high, not "historically low", it simply isn't that.
 
Damocles said:
Do you just say stuff nonsense and expect people to believe you?

The target rate is 2% or below, it is more than double the target rate that is high, not "historically low", it simply isn't that.
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Look up the inflation rate 1950 - 1980.

The target rate has nothing to do with what inflation has been historically.

We had 20 years with almost no inflation, the dam finally broke as economists have been predicting for a decade. In fact it was not as out of control as most expected.
 
QP! said:
Those stats are not democrat stats. they are factual stats and simply googling "economic performance Democrat versus GOP POTUS' will show you endless examples such as those.
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They were done by groups associated with the Democrat party. My point is, they were picked to make Biden and the Democrats look good, and I get that. But that doesn't mean they give an accurate picture of the economy.
 
Jarod said:
Look up the inflation rate 1950 - 1980.

The target rate has nothing to do with what inflation has been historically.

We had 20 years with almost no inflation, the dam finally broke as economists have been predicting for a decade. In fact it was not as out of control as most expected.
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There are lies, damned lies and statistics. - Benjamin Disraeli

Anyway, the actual goal is 2%, and we aren't "low" by that very real measure.

I can say, "Look at Weimar Republic!" and pretend that it means something in this context but it doesn't. Look at numbers from the "Great Inflation" period is what you ask (actually the Great Inflation was from 1965 to 1982) and pretending that because it sucked then, especially during Carter's term, it means we are somehow "low" now when the goal is 2% and we are just about 2.5 times that rate is just spouting nonsense.

Reality: We are at more than double the rate of inflation goal, that is high inflation and because of that real wages continue to drop and the folks that Brandon pretends to care about cannot afford what they used to be able to afford. Pretending that because it sucked back in some other timeframe it is "good" now is simply fantasy based nonsense.

The world according to Jarod: Any rate better than the 12% Carter reached is "low".
 
T. A. Gardner said:
They were done by groups associated with the Democrat party. My point is, they were picked to make Biden and the Democrats look good, and I get that. But that doesn't mean they give an accurate picture of the economy.
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Except that is factually false. None of those were picked by partisan affiliation. And if you google what i say you can pick your own from any of the myriad of citations all of which overwhelmingly say the same facts.


Look up the Economists behind each of those studies and work and you will see they are not partisan. But that is the lie you need to tell yourself as the GOP just sucks at running an economy and almost always have.
 
ExpressLane said:
And you think the world's largest economy has no effect on the global economy? :rofl2: :rofl2: :rofl2: :rofl2: :rofl2: :rofl2::rofl2: :rofl2::rofl2: :rofl2::rofl2: :rofl2::rofl2: :rofl2: If the US gobbles up more stuff on the market like oil then other countries have to pay more for it. Biden reduce the world oil supply and the price of oil went up and WE had to pay more for it and so did the rest of the world. We had more of our money chasing less world oil. Increase oil price effects everything grown transported or manufactured world wide. Well everywhere that does not produce all of its own energy. Like China which had to raise the price of the things it made. See how that works.


:facepalm:
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Biden Beating Trump on Oil Production
The current president's energy policies have thus far resulted in higher oil production than at any point in U.S. history.
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.
 
Damocles said:
There are lies, damned lies and statistics. - Benjamin Disraeli

Anyway, the actual goal is 2%, and we aren't "low" by that very real measure.

I can say, "Look at Weimar Republic!" and pretend that it means something in this context but it doesn't. Look at numbers from the "Great Inflation" period is what you ask (actually the Great Inflation was from 1965 to 1982) and pretending that because it sucked then, especially during Carter's term, it means we are somehow "low" now when the goal is 2% and we are just about 2.5 times that rate is just spouting nonsense.

Reality: We are at more than double the rate of inflation goal, that is high inflation and because of that real wages continue to drop and the folks that Brandon pretends to care about cannot afford what they used to be able to afford. Pretending that because it sucked back in some other timeframe it is "good" now is simply fantasy based nonsense.

The world according to Jarod: Any rate better than the 12% Carter reached is "low".
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Ronald Reagan's first three years were a lot worse than Biden's first three.


https://www.usinflationcalculator.co...flation-rates/
 
Damocles said:
The difference: Ronald Reagan's didn't start with 2% inflation and go up then fail to return to 2%.

The reality: Brandon's policy of printing and spending money like it doesn't have consequences has failed middle America. They know it too.
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Reagan destroyed the middle class. The fallout from his policies is responsible for the enormous wage/wealth gap, the housing crash of 2008, and the two tier system we are now experiencing. On the economy, Reagan was a compete and utter disaster.
 
Damocles said:
The difference: Ronald Reagan's didn't start with 2% inflation and go up then fail to return to 2%.

The reality: Brandon's policy of printing and spending money like it doesn't have consequences has failed middle America. They know it too.
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What’s the Republican plan to get inflation under control? More tax cuts for the 1%? I’ve not heard too much talk from Trump about his policies. I haven’t heard any ideas from any Republicans.
 
Phantasmal said:
What’s the Republican plan to get inflation under control? More tax cuts for the 1%? I’ve not heard too much talk from Trump about his policies. I haven’t heard any ideas from any Republicans.
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Their answer, which is completely disconnected from reality, is 'drill baby, drill'. They actually believe that Biden caused inflation by 'declaring war' on fossil fuels, even as we are pumping more domestic oil than we have at any time in the history of the country.

They have no policies. Literally. They also lack even a basic understanding of economic principles, specifically the principle of supply and demand. It appears to be a concept that they do not even have a passing familiarity with.
 
Damocles said:
The difference: Ronald Reagan's didn't start with 2% inflation and go up then fail to return to 2%.

The reality: Brandon's policy of printing and spending money like it doesn't have consequences has failed middle America. They know it too.
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You believe that Biden printed more money than Trump or Obama?

Do you know when QE ended?
 
Concart said:
Their answer, which is completely disconnected from reality, is 'drill baby, drill'. They actually believe that Biden caused inflation by 'declaring war' on fossil fuels, even as we are pumping more domestic oil than we have at any time in the history of the country.

They have no policies. Literally. They also lack even a basic understanding of economic principles, specifically the principle of supply and demand. It appears to be a concept that they do not even have a passing familiarity with.
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They say what they are told to believe, fax and data are totally irrelevant to them.
 
07.12.23
Americans Continue Paying The High Price Of ‘Bidenomics’

‘Bidenomics In Action’ Is The High Prices American Families Confront At The Grocery Store, The Gas Station, Restaurants, The Barbershop, For School Supplies, And On Their Utility Bills


PRESIDENT JOE BIDEN: “That’s Bidenomics in action.” (Jesse Lee, @JesseLee46, Twitter, 7/12/2023)



The Cumulative Effect Of Inflation Since President Biden Took Office Has Americans Paying Significantly Higher Prices For Food, Energy, Transportation, Housing, And More
Since President Biden took office, inflation has increased 16.6%. (Bureau of Labor Statistics, Accessed 7/12/2023)

Grocery (food at home) prices have increased 20%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Food away from home prices have increased 18%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Energy prices have increased 38%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Prices for fuel oil have increased 45%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Gasoline (all types) prices have increased 52%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Natural gas prices have increased 20.7%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Electricity prices have increased 26%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Rental prices for a primary residence have increased 15.6%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Prices for used cars and trucks have increased 35%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Prices for new vehicles have increased 20%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Furniture prices have increased 18.8%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Apparel prices have increased 10.8%. (Bureau of Labor Statistics, Accessed 7/12/2023)
Airline fares have increased 39%. (Bureau of Labor Statistics, Accessed 7/12/2023)


Core Consumer Prices Rose Again In June, With Housing And Basic Services Continuing To Cost More
“So-called core consumer prices, which excludes volatile food and energy categories, rose 4.8% in June from a year earlier …” (The Wall Street Journal, 7/12/2023)
republicansenate.gov
 
Since the beginning of Biden's presidency, prices have gone up 18.3 percent, with, again, only Carter having a higher inflation rate at this point in his presidency. Five of the six other presidents had rates that were 10 percent lower than Biden's — or more.

Hard working Americans who are paying the price for Biden’s out of control inflation know the truth .
 
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