Inflation
PJ Media,
by
John Stossel
Original Article
Posted By: ladydawgfan,
2/3/2022 2:08:07 AM
Inflation is the worst in 40 years.
The price of cars is up 37%. Gas is up 49%.
During the last few years, as politicians spent ever more money, experts told us not to worry.
Jerome Powell, chair of the Federal Reserve, said inflation would be “transitory.”
Treasury Secretary Janet Yellen said, “I don’t anticipate inflation is going to be a problem.”
Now she says, “I’m ready to retire the word transitory.”
What went wrong?
“Big corporations have taken advantage,” says Rep. Ted Lieu.
Sen. Elizabeth Warren tweeted: “greedy corporations are charging Americans extra.” It’s “price gouging.”
This is nonsense.
“Greed is constant,” says economist David Henderson in my new video. “If it’s greed, how do we explain prices falling?”
Reply 1 - Posted by:
itsonlyme 2/3/2022 2:33:12 AM (No. 1059715)
The price of a barrel of oil is marching towards $100
I'll soon be paying over $4 for a gallon on gas, by Memorial Day weekend about $4.30. The large grocery store is trying to convince me that $9.99/lb. is a bargain for NY Boneless Steak. Yes Donald, you're missed.
12 people like this.
Reply 2 - Posted by:
mifla 2/3/2022 4:25:14 AM (No. 1059745)
The Dems can finger point all they want. They caused this mess.
16 people like this.
Reply 3 - Posted by:
F15 Gork 2/3/2022 6:52:32 AM (No. 1059816)
Inflation is no longer transitory, it’s permatory.
10 people like this.
Reply 4 - Posted by:
udanja99 2/3/2022 8:02:11 AM (No. 1059887)
Gas is up 49%? Where I live it’s more like 75% and South Carolina used to be known for having cheaper gas. When we used to drive from VA to visit relatives in FL, we always filled up in SC for that reason. I don’t buy steaks but I can tell you that a six pack of canned tuna at Costco a few months ago cost $14 and now it’s up to almost $20.
5 people like this.
So if this was a free market, why is the interest rate on savings accounts .03% and not changing with inflation???
7 people like this.
Reply 6 - Posted by:
Strike3 2/3/2022 9:40:41 AM (No. 1060046)
Government forces McDonalds to pay their tattooed, hairy, pierced employees $15 per hour. The price of their premium sandwiches and a handful of fries goes up over $10 for a light lunch. Don't dare add a $2 cup of flavored water. Many people, except for teenagers who are supported by their parents, are going to say goodbye to McDonalds. How is that $15 per hour wage helping anybody now when they must lay off workers? This was a problem before the Biden cult screwed up the supply chain and added to the costs.
3 people like this.
Reply 7 - Posted by:
Kafka2 2/3/2022 10:14:37 AM (No. 1060087)
Let's face it. This is a man-made problem of Progressive policies. Cancel pipelines to move oil more safely and efficiently, and cancel drilling permits and surprise, surprise the cost of gasoline goes up. Pay people more to sit on their bottoms than to work and the cost of labor goes up. Impose micro-managing mandates on business and compliance and overhead (non-productive) costs go up. Print and throw money at "black hole" programs and the purchasing power of money goes down.
This is all a result of arrogant and stupid policies of political leaders, who then turn around and blame the private sector. It seems that blissful ignorance of or contempt for economic reality are prerequisites for becoming a politician,
4 people like this.
Reply 8 - Posted by:
Venturer 2/3/2022 11:23:33 AM (No. 1060180)
It started on 1-20-2021 the day the potato head signed Executive Orders canceling everything Trump. There can be no excuses, no denials.
And it won't stop until 2024.
2 people like this.
Reply 9 - Posted by:
MDConservative 2/3/2022 11:35:03 AM (No. 1060206)
People of a certain age can remember the days of inflation that began in the LBJ administration, took deep hold in the Nixon-Ford years, hit its nadir during the Carter term, and took years of real effort to bring down to "reasonable" levels with Reagan. Once the genie is out...it takes years to remedy, IF there is the political and financial will. Ten percent inflation means a ten percent reduction in the value of your outstanding debt, most of which is issued at fixed rates which are incredibly low. BRRRRRRR...let those presses run!!
0 people like this.
Reply 10 - Posted by:
DrOstrow 2/3/2022 5:00:01 PM (No. 1060546)
I've said this before and I'll keep saying to anyone who will listen.
There is one cause and ONLY one cause of inflation - printing money !
That's it. Printing money WITHOUT an increase in the value of goods and services ( GDP ).
That is the SOLE CAUSE of inflation, something, that is, by definition, an increase in the amount
of money in circulation. Period. End of story !
NO ONE will go near this because printing presses cannot be blamed, which would exonerate everyone else !
Instead, it is being blamed on everything from supply chains, to supply shortages ( that is supply and
demand - NOT inflation ), to greed ( always with us ) to the color of my
aunt Bessie's Sunday dress ( irrelavent ) !
This is why we're are where we are NOW - the printing of 6 TRILLION dollars - so far- without
an iota of increase in goods and services. In fact we have experienced an actual DECREASE
in GDP because of all of the people who are not working &/or producing SOMETHING,regardless
of the reason(s) they are not working.
This is just the beginning. It's going to get worse.
The only cure is for the GDP to drastically increase - not likely as long as freebees are plentiful
or a reduction in the money in circulation - raising interest rates thereby slowing the economy
even more.
Now somebody please tell me how or why they think this was not intentional.
4 people like this.
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