Bidenomics ... It's working ?????

I went up to the food store this morning to pick up a couple items we forgot yesterday. I bought a standard box of blueberries and a package of beef bologna for my wife. She doesn't like the stuff that is made with chicken feathers and pig snouts.

The two items came to $13.18! High food prices is one of the factors that has Biden's approval ratings so low. It's not like I bought a piece of flank steak.

 

What’s the cost and weight of your package of beef bologna?

 

Bidenomics is not about stopping inflation this morning. The first step was to avoid a recession: create jobs, increase salaries, reduce unemployment, make businesses productive, fix infrastructure... The NEXT step is to control inflation. Which doesn't mean that the price of bologna will go down one day. It means basically that wages increase more rapidly than the cost of goods and services. We are already seeing signs that it will be under control within a few months. However, in a healthy economy (which we now have) the Fed has more of a say about inflation than the President does. But I'm sure they'll make a move before the elections so it doesn't become a factor.

 

I can’t say it’s Bidenomics but I can say our savings account is growing like mad and our 401k has increased dramatically. As a result we’ve been able to pay extra each month on our mortgage and will have it paid off next year.

 

If you look at what economists are saying is the cause of this is all points to corporate pricing and profits.

The US has the lowest levels of inflation in the developed world, GDP growth and wage growth are excellent, interest rates are dropping. Fuel prices are fairly low and we are now the largest producer in the world.

I do agree with you that Biden will likely be punished due to factors beyond his control (such as “greedflation”) but I do have a question for you — what are republicans going to do about corporations price gouging?

 

Inflation is transitory...

Seems like someone promised that about 3 years ago while prices keep rising.

What is the definition of transitory?

 

Blueberry season is from April to late September, and the price fluctuates quite a bit

Producer Price Index by Commodity: Farm Products: Blueberries
https://fred.stlouisfed.org/series/WPU01110227

Transitory = Not permanent.

Inflation is transitory.

 

What a novel idea: a president who promises something and actually DELIVERS... You know... like Trump did with the wall that Mex... No... Like when Trump promised to put Hillary in pris... Oh.. not that either. Oh, I know: when Trump promised billionaires he would give them a tax break. He sure delivered!

Uhm.... A Tory who is not sure about their sexual preferences, maybe?

 

I really don't understand this line of attack against Biden. It is pathetically weak, as if the presidential desk in the oval office has some levers or buttons to press to change the cost of goods.

No matter what Biden does, the MAGAverse will find something to bitch about no matter what.

 

Inflation is transitory, but tell that to the working class people who are trying buy groceries, pay the rent or buy a used car.

This is trouble with the modern Democrat Party. The intellectual basis for it is a lot of college graduates with good incomes and lots of book learned theories. I know the book learned theories. I took 27 credit hours of economics in undergraduate school and 6 more in graduate school. Macro economic theory is great, but it doesn't pay the bills unless you are working for the government giving politicians advice.

The trouble is, those theories don't balance your checkbook when the money is not flowing into your account. The modern Democrat Party has abandoned its roots. It no longer considers the hourly wage earner. The Democrats take them for granted. When they complain about that and threaten to vote for Trump, the Democrat elites condemn them as racist, homophobic and ignorant."If you can't make it in the current economy, come to us, and we will put you on welfare."

It's all about LGBQ rights, theories about race relations and illegal aliens whom the Democrats are bringing here to lock up their control on the country. The Democrats will probably win in the end. The socialists have won in Europe although their current policies about food production because climate change might be their downfall.

 

Promised?????

I don’t think so…..

Powell’s words; “Inflation will pick up in the coming months, and will likely prove temporary”

Biden’s words; Our recent price increases were anticipated, and are temporary, “according to our experts”

Bush; “According to XYZ source”, Saddam is developing weapons of mass destruction.

Trump; “According to a top constitutional law expert, Pence could unilaterally reject/delay electoral votes.

 

What were 2020’s inflationary pressures?

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Can you identify at least one?

 

I'll answer your question just as soon as you answer how long this transitory inflation is going to last

 

Your last sentence is completely ridiculous and makes zero sense.

The rest of your post is nothing but trying to make excuses for your savior by engaging in a failed attempt at what aboutism

 

Woman left homeless after motorhome stolen

It has now become the norm for young adults to live with their parents

inflation hurt the old with their retirement savings:
Worrying statistics about American's retirement future

Should you push your kids into a STEM field, to be able to try to find a good job?
No, too many immigrants in that field brought in under H1-B visas.
STEM path for students is like a scam

From the LA Times: "Biden quietly reversed Trump's ban on worker visas. Will it help or hurt the U.S. economy?"

 

Yea. In 2020, Covid.

The inflation really got going in 2021 after the brainless Biden puppet took office. It started with his energy policies which which were authored by the climate crazies and socialists who control his administration. As it did in the 1970s, high energy costs work their way through every aspect of the economy.

Then the brainless Biden puppet amped up government spending which pushed inflation further. It would have been worse if all of his program had been passed.

 

the FED is raising interest rates to kill the hot Biden economy, the Biden economy is still doing well considering the right is trying so hard to kill it

the right think the common folk have too much money and that is causing inflation

the real issue was a global supply issue caused by Covid, and greedy corporations

 

That fairy tale doesn't change reality

 

your fairy tale doesn't change reality

 

The Fed was raising interest rates to lower inflation. If you took economics in school, the other solutions would be lower government spending and higher taxes. Neither of those would be attractive to the mossbacks in Congress.

The "common folk" did get a lot of money from the Covid handouts. My late in-laws got them. I didn't because my income is too high. That did have an effect on inflation, but it may have softened the recession that could have resulted from Covid.

"Greedy Corporations" have little to do with it. Unless they control the market for certain goods, they can only "go with the flow." The greedy part is in the Democrat Party mindset.

 

the republican run FED said they were raising rates to keep wages from rising.... thus making the effects of inflation worse on the working class

the right will always support greedy corporations....

 

Sorry, but no. It was all over the news. The Fed rose interest rates to slow inflation. It had little to do with lowering wages. The idea is to cut investment in durable goods and other loans which lowers aggregate demand.

That is a more indirect approach to lowering inflation, but it's one that lets Congress off the hook from raising taxes or cutting spending.

 

sorry, it was all over the news, the FED said they raised interest rates to keep wages from rising

I wonder if Trump wins, if the Republican run FED will lower rates?

inflation was a global supply issues, not a too much money issue

 

A deal, but you never asked how long this transitory inflation is going to last…..

You asked; What’s the definition of transitory?

Answer; Transitory inflation is a price increase over a short period of time.

However, what actually happened defines “persistent inflation”, therefore, those who believed that the price increase we had in 2021 was transitory/temporary……were wrong.

Now, answer my question.

 

The Fed was created as a quasi private - government bank that regulates monetary policy. The parties have to power to pick the Fed Chairman, and but in many ways, he or she is above politics.

There are many conservatives who want to dump the Fed. They are dead wrong. A civilized country needs a central bank to regulate the banking industry and money supply. I would never deny that the Fed has made mistakes, but the alternative, which was tired in the 19th century was far worse.