Why 7% Inflation Today Is Far Different Than in 1982

Wjs ^ | 01/12/2022 | Greg Ip

[ChicagoConservative27]

Consumer price inflation in December, at 7%, was last this high in the summer of 1982. That’s about all the two periods have in common.

Today, the inflation rate is on the rise. Back then, it was falling. It had peaked at 14.8% in 1980, while Jimmy Carter was still president and the Iranian revolution had pushed up oil prices. Core inflation that year reached 13.6%.

[TwelveOfTwenty]

How is it possible we have any inflation, when the free traitors promised us that shipping our manufacturing out of the country would reduce prices?

[central_va]

No tariffs and unmitigated immigration are both gloBULList dreams.

[central_va]

All that money ($500B/year) we ship out in return for cheap trinkets comes back eventually. They (foreign money) are buying food, house and farm land. We are bing colonized. As long a Free Traitors™ get their cut then all is good.

[TwelveOfTwenty]

They (foreign money) are buying food, house and farm land.

Two words - trade deficit.

But you're right about the free traitors. What I don't get is how so many so called "Conservatives" and "patriots" could have supported this.

[central_va]

But you're right about the free traitors. What I don't get is how so many so called "Conservatives" and "patriots" could have supported this.

The stateless anti nationalist right wing middle men made up propaganda slogans like " we are a nation of consumers( insects?)" and "You don't want $1,000 toaster ovens do you"?

[bert]

Your Isolationist claptrap is evidence of ignorance of basic business and capitalist freedom.

Anti business psuedo conservatives are like progressives that hate the concept of profits in which they do not share.

[Lurker]

“Anti business psuedo conservatives are like progressives that hate the concept of profits in which they do not share.”

I like profits, but I like them earned honestly. What we have today is nothing of the sort. It’s a crony capitalist monstrosity run by a kakistocracy. And no one asks basic questions like “Is outsourcing a significant portion of vital national resources to third world crap stains and communist dictatorships a good idea?”

While having some things made more cheaply overseas may, and I stress may, be a good idea what’s going on today is not.

Nothing in this universe has only one side. While there are certain advantages to outsourcing there are also disadvantages. Those need to be discussed rationally and with OUR national interest at the core.

L

[1956tbyrd]

I’m surprised the media isn’t saying “Inflation is at it’s highest rate since 1982 - when Ronald Reagan was President”.

[TwelveOfTwenty]

Your Isolationist claptrap is evidence of ignorance of basic business and capitalist freedom. Anti business psuedo conservatives are like progressives that hate the concept of profits in which they do not share.

Capitalistic freedom is one thing. The trade deals that sent our money and technology to a communist country is quite another.

Are you OK with the fact that the consumer dollars that could have been used to build up our military and infrastructure are building up the Chicom's instead. Are you OK with funding their military expansion while borrowing so we can continue to buy their products? Do you honestly believe they aren't stealing the technology we send over there?

What about our Veterans? How can we call ourselves patriots while simultaneously choosing Chicom slave labor over our own Veterans?

And what about our children? We send them to college to learn technical skills, then ship the jobs they train for out of the country or import cheaper workers. Our kids are stuck with huge college bills and no way to pay them back, yet we can't figure out why they're rioting instead of working the jobs they might have gotten if they hadn't been outsourced. Can you name one other generation that was betrayed by its own parents and grandparents like this?

So we fund the Chicom military build up, send them our technology, and make it impossible for our kids to get jobs in the IT departments in their own country, but we save $.10 on communist made paint brushes. Is that your idea of basic business and capitalist freedom?

[bert]

blah blah blah yada anti trade yada

So what? The business of America is business.

[TwelveOfTwenty]

The Chicoms thank you for paying for their military build up, infrastructure, and space program at the expense of yours. Pleasure doing business with you.

BTW, sorry about that bug, but thanks for funding that too.

[bert]

You are overlooking the rest of the world that buys stuff from China

Of course since you can’t see beyond your county line, you have no clue

[TwelveOfTwenty]

You are overlooking the rest of the world that buys stuff from China Of course since you can’t see beyond your county line, you have no clue

And how many of those nations are now shaking in their boots over the threat posed by the monster they helped create?

[bert]

They are too numerous to count. In the pacific rim, new coalitions of anti China nations are under negotiation and actual existence.

Fear? probably not but certainly action and the study of action.

Foreign businesses have left or are leaving China on a grand scale.

Navies are gearing up

[TwelveOfTwenty]

Foreign businesses have left or are leaving China on a grand scale.

Not fast enough, judging from all of the "Made in Communist China" stuff I saw in the store today. We're still paying for their build up, at the expense of our allies.