Catch-up Inflation

American Institutite For Economic Research ^ | 10/11/23 | Clifford Thies • 6h

[RomanSoldier19]

In recent days, we've seen that real median household income in the United States fell for the third year in a row, and that union strike activity is on the upswing. The more well-known strikes include the Hollywood writers and the United Auto Workers. These two things - the fall of real income and the rise of strike activity - are connected.

During the pandemic and shutdown, the government blanketed the country with money bombs. Hundreds of millions of dollars in spending turned into billions, and then billions turned into trillions. As the money spigots were thrown open, the US Treasury started selling its new debt directly to the Federal Reserve for new cash, Latin American-style. This new cash entered the economy and started us on an inflationary spiral. And I remind everybody that this began under Trump.

As the inflation first started to manifest, Treasury and Fed officials claimed the inflation was "transitory," due to disruptions of the supply chain, bottlenecks, and the hoarding of toilet paper and cleaning supplies. But, as the inflation continued even as the supply chain got put back together, the claim that the inflation was transitory wore thin. The Fed would have to start raising interest rates to choke off the inflation, and the Treasury would have to

[RomanSoldier19]

[MNJohnnie]

False narrative by the Bidenbots

2 sources of current inflation. The Cost push inflation driven by Biden ridiculous anti US Energy production politics.

The trillions in new Democrat spending from the Bernie Budget to “build back better” to “the inflation reduction act. push through the Democrat Congress by the Biden White House. Push thought despite repeated warning they were dumping gasoline of the inflation fire

[MNJohnnie]

I fogoet the other one

Idiocy in fiscal and Monetary politics by the Democrats like Yellen at Treasury, and the Fed, who kept pumping money into the system in 2021 thinking it would help the “Biden Recovery”

[GailA]

I raise my own,