Posted on 02/15/2022 7:21:12 AM PST by Red Badger
My local Casey’s General Store still has free air.
Inflation is caused by the government pouring new dollars into the economy. (Not my idea. Milton Friedman’s.) It sent trillions to the folks beginning in 2020. That is the main cause, no matter what anyone tells you.
The people who work for the government don’t care. They get automatic cost of living adjustments, so they can make inflation happen and not care.
“My local Casey’s General Store still has free air.”
Nice, and rare.
TRUE.......................
You know what’s incredibly different about this inflation period?
The last time inflation was this high, mortgage rates were around 14%.
And yet we survived.
IMHO there is no way to remove energy from inflation, it’ll creep in somehow even if trying to paper it away. Any product or service requires energy as an input, in some industries a more significant input than people.
Brandonomics...turning the USA into Venezuela...
But “trickle down to the little guy” doesn’t happen. At least that is what the left has been telling us for years.
So...I am not worried. //Sarcasm
Elections have consequences...
In the 1970's inflation was "only" 6.8% for the decade. But the problem was that was an entire decade with higher and lower inflation. That's what caused Volker (Carter appointment) to kick up interest rates. First we have rampant inflation, then we get higher interest rates or depression or hyperinflation. Those are the three basic choice. Then inflation comes down. Looking at the tail end of the high interest rates period is not instructive. We are just getting started here.
“Excluding volatile food and energy prices”
And what happens if they are added in?”
You get a new and different inflation rate daily!
Doesn’t help planning ahead much.
“First we have rampant inflation, then we get higher interest rates or depression or hyperinflation. Those are the three basic choice.”
You left out the most common result. A garden variety recession.
It looks like this is a broader economic plan to wipe out most of the upper and middle class. It won’t stop until almost everyone has no money, and will be happy (except the oligarchs).
And, of course, that 7.5% excludes food and fuel prices. Which have not gone up at all, right? Since those prices are “highly volatile “ they must not really be inflation.
Yeah, hubby is always saying that you take the number the govt. puts out, then double it and you will be closer to reality. So, 9.7% (getting very close to the 10% level) would be around 19%, or lets just round up to 20%.
Does that sound more realistic? I think so, looking at the inflation in all of the products that we buy, not just gas.
Yeah, but didn't the nitwits in this administration say, at the beginning of it, that "Milton Friedman is not in charge anymore."
Guess what, idiots, Milton Friedman is always in charge because he understood the theories behind Economics far better than any of the people in the WH at the moment.
Didn't he win a Nobel Prize in Economics?
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