The CPI Inflation Rate A Sizzling 9.1% In June; Dow Jones Tumbles
- Thread starter anatta
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cawacko
Well-known member
You will get no argument from me against how bad tariffs are, especially Trump's tariffs on China. Yet if they are the reason for the supply chain crisis, as has been claimed ITT, why has Biden not removed them and why have there not been more calls for him to remove them?
I don't know if tariffs stil serve a purpose, but you "free traders"will never confront China and that was their purpose - to drive China into the bi-lateral negotiations,instead of malign trade under the WTO.
They have little to do with the supply chain crisis - it hasn't slowed down imports from China at all - in fact we are on record pace ,"fair trade" not just free trade
https://www.washingtonpost.com/us-policy/2022/05/20/trump-tariffs-biden-inflation/
even eliminating all of the tariffs on Chinese goods — which no one anticipates — would have only a modest impact on prices before the midterm elections. A study by economists Gary Hufbauer, Megan Hogan and Yilin Wang of the Peterson Institute for International Economics concluded that lower import prices resulting from the end of tariffs would reduce the consumer price index (CPI) inflation measure by 0.3 percentage points.
we grew a lot of manufacturing jobs
In Trump's First 30 Months, Manufacturing Up By 314,000 Jobs Over Obama;
https://www.forbes.com/sites/chuckd...er-obama-what-states-are-hot/?sh=33ee05762677
cawacko
Well-known member
The claim was made that the China tariffs are the reason for the supply chain crisis (and our inflation). My question is, if that’s the case then why hasn’t Biden removed them? Or why hasn’t he spoken about the need to remove them? Why has there been no call from the public for him to remove them?
politics. Biden doesnt want to look "soft on China"
Many of the calls to remove are from Republicans, the usual crowd kowtowing to China
Frankly I dont think they make much difference either way- tariffs have nothing to so with supply chain kinks
Matt Dillon
Semolina comes from wheat
That'll never happen voluntarily.
well it is summer so air conditioning is probably a factor.
cawacko
Well-known member
Biden has horrific approval ratings and inflation is bringing him down. If the tariffs are the reason for that (the later), as was the claim ITT, I highly doubt Biden accepts all this in exchange for not being viewed as soft on China.
you are assuming Biden is actually looking at his policies.
Everything wrong/bad in this adm they think is about the "messaging"
Oh and that claim is utterly bogus as I showed. Imports from China are on a torrid pace
All bullshit from Anatta, as usual.
The true inflation rate isn't 9.1%, it's whatever the rate is that wages grew...because inflation affects every dollar equally, always.
So the concept that commodities have differing rates of inflation is made up horseshit because all commodities are valued by the same dollar, and inflation affects every dollar the same way.
So wages grew by about 5%, yet "inflation" was 9.1%. So something is off there because the rate of wage growth should be the same as the rate of inflation, yet it's about half.
So everything above 5% inflation is greed, nothing more.
The true inflation rate isn't 9.1%, it's whatever the rate is that wages grew...because inflation affects every dollar equally, always.
So the concept that commodities have differing rates of inflation is made up horseshit because all commodities are valued by the same dollar, and inflation affects every dollar the same way.
So wages grew by about 5%, yet "inflation" was 9.1%. So something is off there because the rate of wage growth should be the same as the rate of inflation, yet it's about half.
So everything above 5% inflation is greed, nothing more.
First of all, you are a fucking liar and fraud.
Secondly, "inflation" affects every dollar the same way, no matter what.
So that means that the rate of wage growth should be the same as the rate of inflation, yet it's about half.
Wages grew by about 5%, yet inflation is 9.1%. But since inflation affects every dollar equally, and all commodities and products are valued by the dollar, the true inflation rate is measured by the lowest common denominator, which in this case is wage growth.
So the true inflation rate is actually 5% and everything above that is greed.
9.1% inflation = 5% wage growth + 4.1% greed.
no. inflation is what it is,
not all wage growth is the same, and many are on fixed incomes
As usual your economics utterly suck
LMAO! No, inflation is not "what it is" just because you need it to be for your stupid propaganda.
BTW - that 5% growth in wages is beyond anything Trump was able to accomplish.
No, but inflation affects every dollar the same way, so if wages are growing at a rate that is about half the rate of "inflation", that should indicate to you that something is terribly, terribly off.
And wages are not the same thing as fixed income.
You have no fucking idea what you're talking about and we know that because a year after the shitty tax cut that you promised would lead to "growth of at least 3%", manufacturing plunged into a recession, business investment declined, the DJIA grew at its slowest pace in 10 years, job growth slowed to a crawl, the deficit exploded, and the rest of the economy plunged into a recession the month before COVID lockdowns.
All to get a top GDP growth 0.04% lower than Obama's best top GDP growth.
You and Trump are responsible for:
1. The most job losses of any President
2. The biggest decline in GDP of any President
3. The biggest drop in the stock market of any President
4. The largest deficit of all time
5. Ending the longest economic expansion in our country's history
6. The most Americans dying in a year ever
7. And finally, the President who added the most to the national debt.
Your economics suck and always have.
And you know it.
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your usual scatterbrain screed.
I only deigned to post to you because you are so fucking stupid you can't even understand inflation rates
mumbo jumbo. you simply dont understand median wage growth has no bearing on the rate of inflation.
damn you are stuck on stupid as usual. you make up your own terms
Nope, you're just a fucking loser and liar who can't account for the fact that there hasn't been a single Conservative policy from the last 100 years that hasn't resulted in a gigantic plate of shit for the country.
YOU don't understand "inflation" rates because you don't understand the first thing about "inflation" which is that it affects every dollar equally.
It's made up horseshit that commodities have different inflation rates, which covers for the greed and price gouging.
So people aren't paid wages in dollars?
So what are they paid wages in, then? Because every paycheck I've ever cashed has been in dollars, not chickens, donuts, or Russian nesting dolls.
The more you open your big, fat mouth, the more you harm your argument.
So you should shut the fuck up before you put your other foot in your mouth.
not all commodities have the same rates of price rises. hence the different rate.
JFC I cant take this stupidity. your economics are made up in your head
Althea
Althea told me...
Never saw a gasoline powered air conditioner.
since they started killing off coal power plants they have had to switch to oil for aux supply.
And there are lots of cars on the road for vacations.