Posted on 07/05/2022 7:28:58 AM PDT by Browns Ultra Fan
Lightning strikes!
Inflation has been a disaster for millions of Americans. As inflation grows (highest in 40 years), fears of recession are jolting markets.
The Dow today is down 2%.
Then again, Europe is down even more.
My favorite chart for explaining the surge in inflation is M1 Money Stock around the Covid outbreak in early 2020. Which has NOT been removed.
No, this is not a real ECB currency, but it might as well be.
(Excerpt) Read more at confoundedinterest.net ...
Correction....Biden and his puppet-master Obama are killing the U.S. economy.
Leni
Companies just need to charge what things cost them. Problem solved. Joe Biden.
Check out the M1 growth?? I’ve checked out my 201k account and my breakfast came back up.
Stocks are on sale, but I’m not buying yet. Further price reductions are likely.
Biden to Wall St banks/brokers: “Raise stock prices you greedy SOB’s.”
Yep. They refused to raise rates in 2021 because it would’ve interfered with Biden’s spending plans. Now, they are too slow to catch up because sudden interest rate increases to at or above the inflation rate will blow up the economy and put us in a deep recession. It would have been so much easier to raise rates to around 3% in 2021 and stop inflation then. Now, they need to raise rates much higher and it is quite a conundrum. If we had some rational supply side relief, like drill baby drill, it would at least take some of the inflationary pressure off, but the demented dems will never cave on their green new world order, We are screwed unless we can survive until 2024 and vote all of this out.
It would have been so much easier to decertify the stolen election, remove that sick old man, and put the real President back in his rightful office.
But, y’know…mean tweets and stuff.
A new low for gold, as well.
Inflation fears? 🤣 We are smack dab in the middle of it. I believe when the markets come out with a date the it started, it’ll be early 2021.
There was a thread here on FR in late 2019 about a public statement from Trump administration economic advisor Stephen Moore calling for the Fed to reduce interest rates back then.
Interest rates were already at or near all-time record lows.
Unemployment rates were miniscule.
Moore's argument was that the Fed should reduce rates to make the economy stronger. Even Freepers like me with no training in economics could see that this was outlandish nonsense. If the Fed is going to cut rates when the economy is STRONG, then: (1) When the hell is it is going to cut rates? ... and (2) What the hell is the Fed going to do when the economy weakens and rates are already at a bare minimum?
I believe most of the current problem can be traced back to the lack of any true spending bills coming out of congress for the last decade or so. CR’s are the name of the game and with their built-in spending increases and continuation of money dumping on every pork barrel that ever existed. Omnibus spending for the win as well. Many saw this coming.
30,410.88
▼ 686.38 (2.21%)
July 5, 11:08 AM EDT · Market Open
Remember my prediction of Dow Jones 30 Industrials and S&P 500 down 45 to 50 percent by the end of September 2022....
america’s retirement money down the flusher
Not to worry.
According to Credit Suisse the US will avoid a recession!
Okaaaay...
These folks vote, and they are not happy.
Morons are running our government.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.