Posted on 02/23/2022 6:54:27 AM PST by artichokegrower
According to conventional wisdom, inflation has left most Americans poorer. It’s an odd view, given that the number of people with jobs jumped by 4.7 percent in 2021, and the economy grew by 5.7 percent after inflation. It was the U.S. economy’s best performance in decades. If people are poorer, why did household spending jump by 8.8 percent in 2021, after inflation, including increases of 25.8 percent for clothing and shoes and 11.6 percent for home furnishings?
(Excerpt) Read more at washingtonmonthly.com ...
Note to author: No they aren’t.
Only idiots like a liberal think in static terms. The author is a moron.
Why did spending increase? Err... because of INFLATION, where everything is more expensive, so of course spending increases, derrr
I guess the author owns his home
Home prices surged nearly 19% last year, marking highest read ever
https://www.foxbusiness.com/economy/home-prices-surge-nearly-19-fifth-largest-read-ever
Spending is up, not because people are buying more, but because they are paying more for the same things they have been previously buying. My goodness, just because you are spending more does not mean you are buying more items!
If I’m paying $130 at the grocery instead of $100 that does not mean I’ve increased the number of purchases. I would think that fact would be so simple that even a professor could understand it.
Stop trying to lie your way out of this Corporate Media. We have a very real economic problem and we need it addressed, not lied about.
If you are this stupid and politically bigoted that you totally lack even a basic understand the problem Shapiro, sit down and shut up.
“Excuse me I was just getting over the shock of paying $120 to fill up my pickup”
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You’re much wealthier now. Before there was no way your pickup could have held $120 worth of gas. Your earlier pickup truck was poorer and probably only could hold about $70 worth of gas. Ergo, you’re $50 richer as you drive off on your newly topped off truck. Relish your new wealth! /sarc
If spending is measured by how many $$$ went out for stuff, and the stuff is priced higher ‘cause dollars are worth less ‘cause of inflation.......
What kind of idiot wrote this?
Basic economics - when energy prices rise significantly so does all the consumer goods. Inflation is way up. What did Sleepy and Kam La La campaign on in 2020? Ending fossil fuel consumption and stating that the cost of energy will rise. BIngo they kept their campaign promises. All these hack leftists can deny or spin but they set the tone for all of this.
Cancellation of XL pipeline on day 1 was the harbinger of these nasty things to come. Enjoy the suck you DemRat voters . Mission accomplished.
Some years back, I remember some democRat moron saying that debt is the same thing as wealth.
Also, activities that were prohibited for up to two years are now beginning to take place again. Driving your kid to school, sports, movie theaters etc. Of course spending is going to go up.
That, my friend, is pretty darn funny.
Shapiro needs to crawl back under his rock where everything is cozy and rosy. The gubberment printed way too much money. Won’t be long before the economy runs out of steam BECAUSE of inflation. Don’t kid yourselves, the Rats know what they are doing . . . intentionally crashing the economy. They are attacking us, whether it be through fiscal policy, tax policy, COVID policy, stealing the election or infiltrating the Jan 6 protest and starting a riot. Our government hates us regular citizens, plain and simple, and they are collaborating with the globalist/ great reset crowd to subdue and subjugate us. WE are in their crosshairs.
“Robert Shapiro is the chairman of Sonecon and a senior fellow at the McDonough School of Business at Georgetown University. He served as undersecretary of commerce for economic affairs under Bill Clinton.”
This numbnuts proves once again that somebody can somehow rationalize anything.
The stimulus is in the economy now and it isn’t going away until prices consume it. Same for child tax credits, student loan holidays and forgiveness, support for invaders etc. All printed money out of nothingness meaning the same.
Regards,
I can’t delineate exactly where the “split” happens but there is a split when higher inflation is around. The people above that split can do very well under inflation. Investor class, most (not all) homeowners, many business owners (not all).
Mainly the people who do better are the ones who are above well above the need to live paycheck to paycheck. They can invest and beat inflation, the most common way they do it is with real estate, whether it be their home or other property. Even rich high dollar musicians have told me they made their biggest money investing in real estate, even non-experts can make money at it.
But until we leave the week-to-week life we are hogtied. Unless one is high salaried it takes side hustles, working extra hours, etc to get off the ground. But it’s worth it.
“Excuse me I was just getting over the shock of paying $120 to fill up my pickup”
Your tank should never get near empty when gas prices are rising. You should fill up at half a tank or sooner and store the (cheaper gas than tomorrow) in your tank. Over time it makes a difference, and the bigger your tank the better you can do. I wish I had a 300 gallon storage tank, I’d fill it too.
Two other advantages of topping up:
The fuel keeps the fuel pump cool (electric pump mounted in the tank), and running low in hot weather is not good for the pump.
Water vapor is more likely to freeze in very cold weather in a mostly empty tank.
Thanks, that’s a good reminder. I’m also told running a gas tank to almost empty can cause crud in the bottom of the tank to go to the motor.
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