Posted on 02/07/2021 9:38:39 AM PST by Pining_4_TX
When Jimmy Carter came into power inflation was 5.7%, by the time he left inflation more than doubled to 13.5%. Now
Joe Biden appears to be going down the same track.
Massive government spending and a stimulative monetary policy was the heart and soul of the Carter regime and now Biden’s regime is working on doing the same.
(Excerpt) Read more at thegatewaypundit.com ...
https://www.youtube.com/watch?v=EoS52fVtVQM
I will now make a prediction. There will be considerable inflation in Biden’s America. But the numbers won’t reflect that. The Feds will bend, fold, and manipulate the data to fit the “all is well” narrative.
This will work...for awhile.
Home mortgages, if applicable, should be refinanced ASAP.
I’ve seen this movie before. I remember the Carter era (or should that be ‘error’?). Prices are definitely rising and inflation is well on its way.
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Wish we had bought something when we moved here. Housing prices have gone up astronomically since then. We are renters so we are going to get hosed.
Few people remember that the prime interest rate under Carter reached 21%. Something like that can only happen when the economy has completely gone off the rails...worst President ever...maybe worse that Obozo.
And home mortgage rates double digits! Yeee Hawwww
We lived in Texas at the time, and the evening of the election in 1980, my husband went to get pizza. While he was waiting in line, they called the election for Reagan. That was the most fun ever!
Keep your cash short and dry. Long bonds will be killed. Stocks will be killed.
Only at the turning point can you flood long bonds and stocks with your short cash.
Everyone will lose. The strategy above will have you losing less.
Unless you like precious metals and oil. Then play at great risk.
I remember buying a Honda Accord during those times. I got the wonderful rate of 20.2% (or real close to it)..and considered myself lucky..
Not to worry. Our overlords will soon outlaw all private property ownership.
ineptness on full display.
Oh, well, in that case, it’s OK. I feel much better now. ;-)
I’m starting to wonder if I should buy a new (gasoline) car early. I usually keep them 10 years, which would be 2023 but who knows what the prices will be then, for sure not lower.
Of course they really want us all on bicycles or mass transit anyway. 🙄
Gas is up again.
You are right. The “lesson” of the 2008 housing bubble implosion was that kicking the can makes the problem far worse when the inevitable happens.
We need to be truthful, Trump did little to curtail spending. My biggest disappoint with Trump and I think many here share that opinion. While I think he was going to focus more on it in his second term and he superficially talked about restructuring our debt (an area he is far more knowledgeable about than most), Covid pretty much wiped that out and erased the gains in revenue and growth he indicated reliance on.
I don’t want it to happen. It is going to be painful. However, I would rather get it over with now so that my children don’t have to deal with it later when its even worse. It will be earth shattering.... literally. We may well drag down economies across the globe given the status of the dollar and our trade.
“Home mortgages, if applicable, should be refinanced ASAP.”
And at fixed rates.
40 years ago I lived in St Pete, FL and of course I had a lot of retiree neighbors. They were getting 18% on their money market funds. Now that I am retired, 18% would net me twice what I made when I was working. And that’s on top of my pension and SS.
How about a horse or a mule? No fossil fuels there.
“Jimmy Carter came into power inflation was 5.7%, by the time he left inflation more than doubled to 13.5%”
Remember the Misery Index?
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