Rand Paul report on inflation, it's going to get worse!

Poor Richard Saunders said:
The US government has run deficits almost every month for the last 80 years. Why was there no inflation tied to those deficits in the past? To argue that the current deficit spending is causing the inflation would be to ignore the history of how inflation has never been the result of government deficit spending in the past. The deficits for the last 3 months of '21 were hardly out of line with previous deficits prior to Covid. Keep in mind your numbers are not inflation adjusted or a percent of GDP. The macroeconomic effect of current spending is lower than it has been often in the past. I can find multiple 3 month periods in the past where the macroeconomic effect from deficit spending was higher than it currently is and we had low inflation numbers. Government spending at it's current level doesn't have the effect you think it does.
Click to expand...

Ove the last 80 years (outside of war) was the government running (inflation adjusted) anywhere REMOTELY near $2.4 trillion of deficits between Feb-Dec of 2021 (when inflation started to rise)?

Yes or no, please?

https://www.fiscal.treasury.gov/files/reports-statements/mts/mts.pdf
https://www.usinflationcalculator.com/inflation/current-inflation-rates/
 
LV426 said:
I didn't modify anything, YOU DID.

You modified your argument because, in your own words, you "weren't clear".
Click to expand...

Did you just modify every post that I quoted you on in Post #95 in this thread?

Yes or no, please?

(give it up man/ma'am. The links no longer work. You OBVIOUSLY modified them...DUH.)
 
McRocket said:
Did you just modify every post that I quoted you on in Post #95 in this thread?

Yes or no, please?

:laugh:
Click to expand...

You were fucking wrong here:

McRocket said:
Wrong, actually.

The Fed says that the current inflation is no longer 'transitory'.

https://nypost.com/2021/11/30/jerome-powell-its-time-to-retire-term-transitory-inflation/
Click to expand...

You also lied when you said the Fed says that the current inflation is no longer transitory, and you didn't read your link because Powell said inflation WAS transitory and linked to supply-side issues.

It was in your link.
 
LV426 said:
What the fuck are you talking about?

What does this have to do with you being wrong about what The Fed said?
Click to expand...

Did you just modify every post that I quoted you on in Post #95 in this thread?

Yes or no, please?

(give it up man/ma'am. The links no longer work. You OBVIOUSLY modified them...DUH.)
 
LV426 said:
You were fucking wrong here:



You also lied when you said the Fed says that the current inflation is no longer transitory, and you didn't read your link because Powell said inflation WAS transitory and linked to supply-side issues.

It was in your link.
Click to expand...

Did you just modify every post that I quoted you on in Post #95 in this thread?

Yes or no, please?

(give it up man/ma'am. The links no longer work. You OBVIOUSLY modified them...DUH.)
 
McRocket said:
Did you just modify every post that I quoted you on in Post #95 in this thread?
Click to expand...

OK, so it's clear you have no personal standards for yourself because you said something wrong, tried to redefine what you meant, then went off on tangents because you couldn't successfully defend yourself.
 
LV426 said:
What the fuck are you talking about?

What does this have to do with you being wrong about what The Fed said?
Click to expand...

Did you just modify every post that I quoted you on in Post #95 in this thread?

Yes or no, please?

(give it up man/ma'am. The links no longer work. You OBVIOUSLY modified them...DUH.)
 
LV426 said:
OK, so it's clear you have no personal standards for yourself because you said something wrong, tried to redefine what you meant, then went off on tangents because you couldn't successfully defend yourself.
Click to expand...

Did you just modify every post that I quoted you on in Post #95 in this thread?

Yes or no, please?

(give it up man/ma'am. The links no longer work. You OBVIOUSLY modified them...DUH.)
 
McRocket said:
Did you just modify every post that I quoted you on in Post #95 in this thread?
Click to expand...


For the third time, I didn't modify anything...but you did.

You literally modified your argument when you realized you hadn't reviewed your sources.

Sloppy, sloppy work.
 
LV426 said:
I didn't modify anything, you just can't handle the fact that you're wrong.
Click to expand...

Then why does EVERY, SINGLE link to your posts no longer work?
Plus, I saw on your profile that you were 'Modifying Post' just before all the links went blank.


Last chance pal...you are looking like an absolute freak. Whacko.

Hey...it doesn't bother me pal.
I think it is hilarious.
But it makes you look psycho.
Last chance to stop this nonsense.

Did you or did you not modify ALL of your posts that I quoted in Post #95 of this thread?

Yes or no?
 
Poor Richard Saunders said:
Ok. You "clarified" your position by making up more things that the Fed didn't say. So you didn't really clarify your position that the Fed said something. You just tried to justify your prevarications.
Click to expand...

I already said that what I originally stated at the end of my post was erroneous.
https://www.justplainpolitics.com/s...t-s-going-to-get-worse!&p=4904834#post4904834
That the Fed did not say 'most of....'.
I had read that article a while ago and wrongly recalled that the Fed had said something else.
But the rest of it was accurate.

So...what's your problem?


And when are you going to answer my other question to you?
 
Poor Richard Saunders said:
Ok. You "clarified" your position by making up more things that the Fed didn't say. So you didn't really clarify your position that the Fed said something. You just tried to justify your prevarications.
Click to expand...

Economics is an area that 'conservatives' simply don't understand. They cannot remove their partisanship from any economic discussion. Ever. They don't understand what the Fed is, or what it does. They don't understand inflation at even a basic level.
An intelligent discussion about economics is basically impossible.
 
LV426 said:
I didn't modify anything, YOU DID.

You modified your argument because, in your own words, you "weren't clear".

I quoted you accurately here:



Are you going to now argue you never typed this?

If so, did someone hack your account?

Nevermind the fact that the Fed never said inflation is no longer transitory, and in fact, Powell said the opposite:

“I think what we missed about inflation,” Powell responded, “was we didn’t predict the supply-side problems, and those are highly unusual and very difficult, very non-linear, and it’s really hard to predict those things, but that’s really what we missed, and that’s why all of the professional forecasters had much lower inflation projections.

And even your NY Post article editorialized that Powell blamed supply chain issues: Despite his attempt to blame high prices on supply chain backlogs.
Click to expand...


Which one of "the sewer" dwellers are you?

I know you're not Lt. Dan, so that leaves LV and 4-5 other dipshits I like to smack around for fun.

You don't quite have the retarded vitriol of LV with stage 7 TDS...hmm.. :bigthink:
 
LV426 said:
I didn't modify anything, you just can't handle the fact that you're wrong.

Maybe the links don't work because you're a fucking idiot?
Click to expand...

I already admitted my mistake pal.
Twice now.
https://www.justplainpolitics.com/s...t-s-going-to-get-worse!&p=4905098#post4905098


Now be a man/woman and own up to the fact that you modified ALL 8 of your posts that I quoted in Post #95 of this thread?
https://www.justplainpolitics.com/s...t-s-going-to-get-worse!&p=4904959#post4904959

As ALL of the links no longer work.


For your own sake.
 
Poor Richard Saunders said:
The US government has run deficits almost every month for the last 80 years. Why was there no inflation tied to those deficits in the past? To argue that the current deficit spending is causing the inflation would be to ignore the history of how inflation has never been the result of government deficit spending in the past. The deficits for the last 3 months of '21 were hardly out of line with previous deficits prior to Covid. Keep in mind your numbers are not inflation adjusted or a percent of GDP. The macroeconomic effect of current spending is lower than it has been often in the past. I can find multiple 3 month periods in the past where the macroeconomic effect from deficit spending was higher than it currently is and we had low inflation numbers. Government spending at its current level doesn't have the effect you think it does.
Click to expand...

Exactly. No difference between government borrowing and private borrowing when it comes to the money supply. I pressed him on this, but he didn't seem to want to provide an answer.
 
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