Posted on 10/27/2022 9:39:52 AM PDT by SeekAndFind
So far nobody on the thread has figured out the “big picture”.
When backward looking government programs like social security, food stamps increase benefits (in the case of SS in accordance with long-time existing law, btw—nothing to do with Biden) they perpetuate future inflation!
That in one reason why inflation becomes a wildfire that requires draconian action by the fed to get back under control.
EVERYTHING I normally purchase has gone up 100% some things (a few) have increased only 50%, my electric this past summer with AC tripled I was shocked!! This $140.00 a month isn’t going to help anything!! Gas for my car has also gone up 100% from Trump years!!!
No induced recession! It will burn out without laying off millions.
Taxes will go up to create a lose lose situation, like always for us against the feds.
The increase is going to make things much worse AND there is NO BENEFIT to it!!
The govt should be sending g-ma a new can opener and Alpo.
“I’m confident the govt number is close enough for me”
LOL. Right. That’s about the dumbest thing said on FR today. But the day is still young and you have plenty of time to outdo yourself.
“I’m confident the govt number is close enough for me”
LOL. Right. That’s about the dumbest thing said on FR today. But the day is still young and you have plenty of time to outdo yourself.
Uhhh....so now what? I can justify eating the more expensive Top Ramen label?
The Fed is going to do what they always do during periods of major inflation—raise rates until they cause a recession.
They are not going to be talked out of it.
“raise rates until they cause a recession.”
Unfortunately, that is the ONLY cure for inflation.
Spending $1 trillion per month we don’t have on top of a $30 trillion national debt won’t fix it. That’s throwing gasoline on the fire.
Evil that. It looks like the R's wil take over congress so they have their scape goat.
Bull. It is the only cure if you are crazy and want to run into brick wall. I say keep interest rates semi low, unemployemt low AND RE_ELECT Trump!!!
when it was revealed that SS recipients were going to receive an 8.7% increase, immediately raised the rent 8.7%. Easy come, easy go, I guess.Same thing happens with subsideies.
Subsidize EVs, raise the price accordingly...pure profit.
That's what made Elon Musk the richest man in the world...US Taxpayers, many that can't afford his product and others that don't want one.
RE: I’m confident the govt number is close enough for me
Ok, here in NY, the price of regular gasoline was $2.80 when Trump left office.
Today, it’s $3.50 at the pump. That’s about a 25% increase and it affects ME directly as I have to drive 25 miles to work everyday.
I have not even mentioned the price of milk and other household items.
As an ordinary wage earner, can you explain to me how the government inflation figure of about 9% is correct?
If you're retired military and on SS, you'll get both.
I had read that’s exactly why they are giving a large COLA. Because Medicare rates are going up.
Meanwhile, retirees have seen over 30% increase in gas, food, housing, electric bills, etc. Hmmm, that doesn’t sound like a good trade off to me.
They are cost of living adjustments and these COLAs only serve to maintain the bare-bones subsistence that they were intended for - to be supplemented by other incomes or savings.
“My real-world observation is that inflation is running 20% to 30% per annum. What do you observe? Many products have shot up 50% and more the past year.
A 9% increase is WAY WAY below real world inflation. “
The general inflation is considerably lower than the inflation for necessities like food, gasoline etc. so people with fixed or lower incomes like SS are hurt.
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