From the SAME PEOPLE (Democrats) that brought you the ridiculous, absurd, $1.7 Trillion Dollar lie of "The Inflation Reduction Act"
Posted on 04/14/2024 8:27:36 AM PDT by karpov
“Why Inflation Is Biden’s Most Stubborn Political Problem” by Andrew Restuccia and Sam Goldfarb at WSJ was one of those coffee-spilling articles that gave Grumpy his nickname. Not the article, which was well written, but the contents. In response to rising inflation,
'Biden and his senior aides aren’t planning any major policy or rhetorical shifts. They plan to continue talking about the president’s proposals to lower the cost of housing and prescription drugs, while slashing student-loan debt and eliminating surcharges tacked on to everything from concert tickets to banking services.'
The most simple and pleasurable lessons of economics show you how common ideas are precisely wrong. Econ 101: Don’t confuse relative prices — one price greater than another, and the forces that push one price up relative to others — with inflation, the rise in the average level of all prices. Inflation is really about a decline in the value of money. Trying to change individual prices is a classic game of whac-a-mole.
Econ 101 week 2. During inflation, many people’s wages don’t rise as fast as prices. Giving them borrowed or printed money to make up the loss, and buy things at higher prices is another common idea. In week 2 we learn it just makes inflation worse.
These basic points seem to have escaped an entire administration, though it has been facing inflation for four years and had plenty of time to think about it.
'The White House … issuing a statement from the president that acknowledged the federal government has “more to do to lower costs for hardworking families.”
“Our agenda to lower costs on behalf of working families is as urgent today as it was yesterday,” said Jared Bernstein, the chair of the White House Council of Economic Advisers.'
(Excerpt) Read more at grumpy-economist.com ...
Our senator is blaming big corporations for inflation in his campaign ads. He needs to look in the mirror.
Inflation is the creation of more dollars than the Gross Domestic product.
Inflation is caused BY ONE THNG ONLY: GOVERNMENT PRINTING PRESSES.
Not that difficult to understand. Too many dollars in the money supply which lessens the value of the dollar.
Econ 101 & 102.
That’s one reason, but there are others.
I believe NOT being energy independent is a HUGE part of the problem drill baby drill!!
I skimmed the article and may have missed it....but even here the cause of inflation is either missed or maybe is not even understood.
Screwing around with the money supply is absolutely no cure for inflation.
The only way to end inflation is to produce more goods. m Inflation is caused by the supply goods being insufficient to meet demand. Period.
Any 12 year old kid raised on the farm knows that when the money crop has a bad year due to weather, thus creating a shortage of that product, the price will be high.
The next year a bumper crop or perhaps over planting by too many farmers, the price will drop...sometimes to the point that production costs will not be retrieved.
There is no other way to lower or eliminate inflation other than to remove the idiotic restrictions on farming and manufacturing.....and “encourage” people to work.
The gobblygoop the FED and its worshipers peddle, constantly repeated by those who consider themselves intellectuals not only will not end inflation, but will make it worse.
100 years of history should make that clear.
Apparently the author has forgotten Econ 101.
Neither of his lesson are taught in Econ 101.
I am hearing more and more from drive time and Sunday radio shills talking up the economy. Jobs are really good right now, inflation isn’t so bad and that there is more and more confidence and good feeling about the economy - blah, blah, blah.
Bullshit. I saw gas go up in the span of 3-4 weeks 50 cents/gallon. Grocery store prices still high and higher, utility and service bill rates still up and increasing.
Lies, distraction and diversion - all of it to try and get that demented fool reelected.
NO OTHER REASON. Government is the cause of inflation and NOTHING else. Quit listening to the Lying Leftist Government-Loving Deceivers.
lol.
Ok.
Milton Friedman says:
“There is one and only one basic cause of inflation: too high a rate of growth in the quantity of money.”
Government is the only entity authorized to issue currency.
FYI, after you stop laughing...
https://www.youtube.com/watch?v=F94jGTWNWsA
“Milton Friedman - Only Government Creates Inflation”
In his day, Milton Friedman was considered the leading expert on monetary policy and money supply.
Have a good day.
I’m aware of Friedman and his statements regarding inflation.
It’s been widely discredited and shown to have been overly simplistic.
The Left, who loves gov’t, always TRIES to discredit Friedman who rationally points out the pitfalls of gov’t command and control economics.
I have seen no rational and supportable argument that successfully refutes Friedman about the ONE cause of inflation. The Left just offers unsupported assertions because the Left are LIARS.
Anyone curious ABOUT WHAT THE HELL IS CAUSING THIS “INFLATION” INSANITY?
(HINT:A VIOLATION OF THE CONSTITUTION as usual!)
These videos answer that question:
PAPER DEBT MONEY PART 1 of 2:
https://youtu.be/hpxc80iFRvA?si=McVsTSPqCyVJgGHq
PAPER DEBT MONEY PART 2 of 2
https://youtu.be/nUdQd0CoyB8?si=ev66YSBYrugfJ0Nl
Anyone curious ABOUT WHAT THE HELL IS CAUSING THIS “INFLATION” INSANITY?
(HINT:A VIOLATION OF THE CONSTITUTION as usual!)
These videos answer that question:
PAPER DEBT MONEY PART 1 of 2:
https://youtu.be/hpxc80iFRvA?si=McVsTSPqCyVJgGHq
PAPER DEBT MONEY PART 2 of 2
https://youtu.be/nUdQd0CoyB8?si=ev66YSBYrugfJ0Nl
Did prices ever go down after Carter played this game? NO they DID NOT and they will NOT go down this time either.
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