What do you think the best way to combat inflation is?

I agree entirely that Paul Volcker was the very best Federal Reserve Chairman who ever lived, but the worst -- by far -- was Ben Shalom Bernanke.

. Benny Bernanke... great for Wall Street, and horrible for everyone else....

 

Price controls. They worked in WWII

 

Ah -- PRICE CONTROLS! Even better... "wage-and-price-controls"! Those worked so astoundingly well during the 1970's... right? Libs say, "No, no -- don't freeze wages -- just freeze prices!" Ha! If we think that 'supply-chain' situations are bad now, just put some half-assed system in place that forces companies to pay employees much more, and, doesn't allow companies to make the extra revenue to pay those bloated wages! Now you'll have massive layoffs and 'reductions-in-force', soaring bankruptcies, plus all the fun of not being able to find stuff in the stores.

Think: we are not (NOT) at war! The biggest problem we have right now is WAY too much government interference and involvement, including all the micromanagement of the economy by the rotten, corrupt, manipulating FEDERAL RESERVE CENTRAL BANK!

Thanks to four presidents, the "Fed" since 2007 has been able to seize control over everything of any economic importance, and completely cripple what used to be our greatest strength -- the American free-market capitalistic system! Two Republicans, "W" Bush and Trump, and, two Democrats, Obama and Biden, have allowed this to happen, and the Fed continues to rule over the entire out-of-control situation to this day!

 

Restructure The Tax Code
Reverse the concentration and sequestration
of more and more of our currency.
The Tax Code created this problem








For those who avoid paying taxes by renouncing and still reside in NYC.
Renounce and NEVER BE ALLOWED TO VISIT OR Set foot on soil again.

Inheritance Tax too.
Too much sequestration of our nation's currency.

Close the loopholes I am incapable of listing
Like if inc.'s are people, why their more lenient tax code?


For a good time check out
https://www.yahoo.com/news/revolt-college-educated-working-class-124403688.html

The Revolt of the College-Educated Working Class​

Over the past decade-and-a-half, many young, college-educated workers have faced a disturbing reality: that it was harder for them to reach the middle class than for previous generations. The change has had profound effects — driving shifts in the country’s politics and mobilizing employees to demand fairer treatment at work. It may also be giving the labor movement its biggest lift in decades.

Members of this college-educated working class typically earn less money than they envisioned when they went off to school. . .



Moi

​

 

Thank you. I've been bitching and complaining about the U. S. Tax Code for years in this Forum, and elsewhere. I had a glimmer of hope when Trump rolled out his "Tax Plan" reform thing in 2017, but, when the smoke cleared, little that allows the rich to get away with paying little or no taxes changed, unfortunately. Some itemized deductions were removed, but the vast numbers of tax writeoffs, loopholes, 'shelters', exclusions, exemptions, deductions, and 'carried-interest' remained in the Tax Code... the rich of BOTH political parties shrugged, and continued 'laughing all the way to the bank'.... .

Bottom line? Although it was the only noticeable attempt to reform our rotten tax system in many years, it was a failure. It was kind of like the idea of putting toilet paper in a bathroom... a great idea... but if it is only provided in a single-ply, one-inch-square sheet, how does that really help anything?

. But, not everybody has that problem....

 

End the FED. Have the U.S.A. take control of it's money again.

 

The Fed doesn't control money, it controls currency.

 

End the Fed

 

kick lying biden out of office

 

yea INFLATION HAS REALLY GONE UP AFTER BIDEN TOOK OVER UP UP AND AWAY .

 

What do you think the best way to combat inflation is?

There is only one way. Government has to stop spending money it doesn't have. The dollar decreases in value because government inflates the money supply. You voted for them. See if you can get them to get past their greed.

 

No, interest rates don't affect inflation. They affect economic demand. Inflation is caused by government spending money it doesn't have.

 

Government can't. All our money is created (out of thin air) as debt to the fed, AT interest. But! the interest is NOT created. SO! To keep the whole economy from insolvency MORE money has to be created. ETC ... ETC ... ETC. Our Government has done a better job than most governments but the system is working against us and the system is imploding all over the Central Banking World.

It's convenient and expedient and a great political move to blame President Biden, but it's just not his fault. It's the system US signed up for in 1913 and that system is failing.

 

Hire some minority identity to run the show. Check as many boxes as you can in this hire and we should be good to go.

 

Not necessarily. Government can spend big on things like military, but it won't cause inflation. In this case though, the panic spending in 2020 did have an impact on it, because the government was shoving money down everyone's throats, even if they had not been affected by the shutdowns. More spending followed early 2021, but not in the same measure.

Typical causes (also apply to current inflation):

- Prices rise due to increases in production costs, raw materials and wages (+ current supply issues + oil prices due to Russia).

- A surge in demand for products and services as consumers are willing to pay more for the product.

Dollar is currently very strong compared to other currencies. This is a global problem after all, and US is faring better than most other nations.

 

For what the government spends is immaterial. That it has to create the money to do the spending is the problem. It inflates the money supply and reduces the value of the dollar.

Prices aren't affected by inflation. They are affected by supply and demand. Prices, unlike inflation, are temporary and will always find their way to an appropriate level. Inflation is permanent since the only way to reverse it is to deflate the money supply, something a debtor government will never do. The dollar is losing strength against other currencies quite rapidly. Inflation does that. Other countries engage in money supply inflation but the U.S. is the champion for the past two years.

 

Nonsense. Tax revenue is not created out of thin air. It is earned by the private sector. There is no interest on inflated dollars. The interest is on the debt which is regularly monetized to reduce interest payments. That monetization is inflation. What other countries do with their currency is immaterial. It is their problem. What our government does to it is our problem.

 

Inflation involves both demand and the money supply. Yes, reducing demand affects inflation.

 

That is illogical. For some reason (not really a mystery) government has thrown prices in with inflation and the economists in their infinite wisdom have played along.. The term inflation refers to inflating the money supply. It is caused by government spending money into existence. The only way to reverse it is to deflate the money supply. That won't happen so inflation is permanent. Every inflated dollar adds on to all the existing dollars and the value of the currency continues declining. Since the currency becomes less valuable it takes more currency to buy anything. The value of the dollar is worth less than 10% of what it was worth when I was a kid.

Price fluctuations occur because of supply and demand. This is one of the few things with which economists agree. It is temporary. The economy fixes it without any help. Prices always increase or decrease based on the state of supply and demand.

So we have one economic factor caused by government that is permanent. It can be avoided by government living within its means. It can only be fixed by deflation. A debtor government like ours will not deflate the money supply because it causes it to have to pay debt with more valuable dollars. We have another economic factor that is temporary and caused by supply and demand. The two should never appear together under the same term. They have different causes, different effects and different solutions.

The demand we have has nothing to do with inflation. It wasn't caused by government and can't be fixed by government. Most agree that it was caused by the covid lockdowns. Those lockdowns caused people to spend less. So much less that we lost 200,000 businesses because of the lockdowns. With more "freedom" all that pent up unspent money could buy some stuff and people started spending again. Other factors, some caused by government and some caused by the economy itself, reduced supply. The result of the increased demand and decreased supply, obviously, is higher prices.

If you want to avoid inflation, you need to get the government to live within its means (its tax and fee revenues.) If you want to avoid higher prices, all you can do is wait until either demand decreases or supply increases. Both of those things will fix themselves over time. So prices are temporarily high and the dollar is permanently less valuable. A double whammy if you will.

 

Milton Friedman, AKA yesterdays fish wrap.

 

The only thing I can do is simple. Make more money.

 

demand and supply so affect prices
When trump was president I was able to pick up primers for reloading for about 34 bucks for 1000 , I saw them in a store in Jacksonville awhile back 220.00 for 1000, Demand for ammo and relaed items went up due to blm riots and fears of covid looters . Ammo and gun makers couldn't keep up , new gun owners spiked among blacks and women . Ever new gun owner needed ammo The Biden won the election and prices spiked again due to the usual pin head liberal attempt to affect gun laws and go off the deep end.
So its a prime example of how supply and demand affect inflation along with many other factors.

 

Only looking at a single industry doesn't really explain inflation, but yes, demand for gun related stuff goes up every time a Dem wins, no matter what.

 

Its just a example many industries had the basic problem high demand low production increased cost rained labor shortages increased fuel costs

 

Did you have a comment about the lack of logic in my argument? Criticizing an economist is meaningless to me. I criticize the practice of economics in its entirety. How can one take something seriously that has many opinions about nearly everything?