Originally posted by seanD
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"Not so bad" inflation has fed hiking rates.
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Originally posted by seanD View Post
Aside from the inflation, if you have no debt as a consumer you're good to go.The first to state his case seems right until another comes and cross-examines him.
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Originally posted by seanD View Post
I'm not so sure about unemployment. It may go up, but we've been in a recession for two quarters already with a crashing market since the start of the year yet we're still at unemployment lows. Also, there's not much local politics can do to stop it (they only exacerbate it) because the inflation is global with major central banks around the world doing the exact same tightening. Sweden central bank just raised their rate to full 1.00 bps.
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Originally posted by CivilDiscourse View Post
That's part of the point of raising inflation (though said indirectly). Raising the rates is done to hit the brakes on the economy. This is done by raising the cost of money, slowing demand of companies, halting expansion, etc. All of this will cause layoffs, and it's not exactly a bug or a side effect of doing so.
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Originally posted by Zara View Post
There are so many contradictions in what you say it is hard to even work out what you're moaning about, but Biden bad - so, he to blame no matter what.
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Originally posted by seanD View Post
The Fed has been raising rates since March. We've definitely seen two quarters of negative growth and a crashing market since then. So far we haven't seen unemployment budge. Maybe we will, in theory we should, but I'm not sure. And if it does start to tick up, by how much.
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Originally posted by Zara View Post
fair enough, I recall all the moans about inflation being Biden's fault, so well.. good good.
As far as high prices here in the states, it is Biden's fault, but not only his fault.
And though the Dems have exacerbated the problem (what effects do you think debt forgiveness will have on already high demand?) and keep exacerbating it with their insane policies, they weren't the source of the problem. They can't be the source when the problem is global.
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Originally posted by seanD View Post
Where is "my solution"? Show me the post I offered a solution. There really is no solution.
Non-descretionary goods became expensive because of the same reason everything else became expensive (not sure if that was rhetorical question) -- inflation. The inflation was a result of global central banks unprecedented money printing. The excess money created excess demand at the same time supply was smothered globally by pandemic and lockdowns, and this happened on a global level. Personally, I believe we've still yet to see the full effects of that (as there is a lag effect to inflation), which is why I'd be surprised if inflation actually started to fall consistently anytime soon, especially considering central banks are still grossly behind the curve of fighting it.Some may call me foolish, and some may call me odd
But I'd rather be a fool in the eyes of man
Than a fool in the eyes of God
From "Fools Gold" by Petra
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Originally posted by Mountain Man View Post
One of the biggest downward pressures on the economy is energy policy, but those in power are trying to convince us that it's our fault by blaming it on demand, the implication being "If you weren't so greedy, then we wouldn't be in this mess!"
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Originally posted by seanD View Post
Do you actually read and comprehend posts? If I said inflation was a global thing -- and that's a fact -- and that it was created by central banks around the world -- that's a fact -- why would you assume I was only targeting Biden? How does that make sense, or did you not read my post?
As far as high prices here in the states, it is Biden's fault, but not only his fault.
And though the Dems have exacerbated the problem (what effects do you think debt forgiveness will have on already high demand?) and keep exacerbating it with their insane policies, they weren't the source of the problem. They can't be the source when the problem is global.
It seems that people can't afford non-discretionary goods, since the number of people hasn't changed so much in the US nor can non-discretionary spending change, moaning about anything else is meaningless. Who cares if poor people can't afford things that they don't need.
Debt forgiveness is only a problem if it affects demand for non-discretionary spending, but if you think it is inflationary that means that that debt was toxic for those people - since they can't afford to live.
The OP is moaning about Biden, you've moaned a lot about Biden and inflation - but I guess you're not moaning about that anymore, great.
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Originally posted by CivilDiscourse View Post
Buck Stops where again?
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