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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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
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’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.
“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?
Biden is a failure even at raising inflation.
$15 wage? Not happening now, promising to “try again” later.
Cut off drilling on federal lands? Pffht, many federal leases were just signed recently in preparation so drilling will continue for now and federal lands only account for 9% of production. Obama did the same and I made a lot of money in mineral rights and energy stocks and MLP’s, bring it on Joe!
Higher gas prices will screw the consumer but inflation won’t be a runaway under current policies.
Border/immigration is Biden’s worst disaster but that’s not a big inflation factor either. It will inhibit the quality of life and the economy, so it will raise Carter’s “misery index”, remember that?
Coming soon, the return of the Misery Index!
Biden’s policies support real estate rental and sales prices while keeping what’s left of the police very busy.
So, quality of life is headed down quickly, inflation is not going to move enough to matter, be lucky to hit 2% in the next 18 months.
Biden is following in the same economic footsteps as Obama too throw lots of money at everything and hope it works a true plan for proven failure.
Democrats are clueless about to run a country they only know that power lets the do as they please more failure.
The are the true Fabian society their record proves it.
Something I have never understood. After years and years and years of experience, we know there are policies that bring good results and there are policies that bring bad results. Why do politicians change from something that works for the country and its people, and go to something that doesn’t work?
I bought a new house in 1980 and had a 13% interest rate mortgage. My neighbor had 18%.
Carter never met a communist he didn’t like and Biden will be the same.
I don’t support Ben&Jerry’s or the Brillo Boy.
well, Bush II did it, Obama did it bigglee, Trump did it. Where was the inflation and why would Biden be any different?
We need a Mt. Rushmore-like monument for the worst Presidents in history. Lest we forget.
On the plus side remember what happened after Carter. We got Reagan. Who is the wagon of today? Hopefully we can find that man in the next three years. I know people will say Trump and he was great for building the economy but he did little to get spending under control.
Carter’s problem is that the Fed (Arthur Burns Chairman) was fairly stimulative and Carter/Congress passed many restrictive laws. So the economy was like a revved up car with the brakes on.