Inflation Or Bank Collapse, Which To Choose?

[Independentthinker]

Well, the Fed has said for quite a while now that they will aggressively raise interest rates to bring inflation back down to around 2%, after which they then hinted they may have to accept about 3%. Now we have had banking collapses due to the Fed's higher interest rates so now the choice is either continue raising rates to tamp down inflation, bringing us to economic catastrophe, or, accepting high inflation. Democrats have put us into a lose/lose scenario.

And, the funny part is (if you can call it funny) is Biden is talking about holding bank managers accountable for bank failures due to Democrats raising interest rates to combat Democrat's high inflation (which they once claimed was only transitory). When are Biden and others on the left going to hold themselves accountable, IE accepting responsibility for all this? Which should we be more happy with, lower inflation with banking collapse or high inflation where Americans can't afford groceries or rent?

Which do we choose? Or, should we pick door number 3, voting the bastards out?

 

[pknopp]

Easy. Bank collapse. We should have let it happen long ago. The void will be filled.

But by reading your remarks, no amount of explaining anything to you will work.

 

[Votto]

The Swamp has spent the nation into oblivion.

Picking the way into oblivion is all we have now.

Thanks Federal government.

Oh yea, capitalism is to blame...........and Trump and Putin, so there is that.

 

[BluesLegend]

Politicians thought they could borrow and spend and print money like there's no tomorrow and there would be no consequences.

 

[Independentthinker]

Easy. Bank collapse. We should have let it happen long ago. The void will be filled.

But by reading your remarks, no amount of explaining anything to you will work.

Great idea. Have a banking collapse and run on the banks and get the country back to 1930.

 

[Votto]

Politicians thought they could borrow and spend and print money like there's no tomorrow and there would be no consequences.

Politicians are short sighted greedy Swamp creatures with no ability for introspection.

You are talking about a group that probably sold their souls, and the soul of the nation, to the CCP for a lifetime supply of free twinkies.

You give them far too much credit.

 

[struth]

Welcome to Xiden's America...record inflation, skyrocketing interest rates, and bank failures.

 

[Independentthinker]

Politicians thought they could borrow and spend and print money like there's no tomorrow and there would be no consequences.

I fought with a lot of idiots over the years on forums regarding MMT. They claimed we could never reach the point where we currently are. All we had to do was spend, spend, spend, print, print, print because we have a fiat currency. Nothing could ever go wrong and if inflation were to ever increase substantially we could easily know it and have enough time to fix it.

 

[Votto]

Welcome to Xiden's America...record inflation, skyrocketing interest rates, and bank failures.

It seems to me that the GOP voted alongside the democrats for the last massive spending.

The American people have no representation, and seemingly never have had any of any consequence.

 

[pknopp]

Great idea. Have a banking collapse and run on the banks and get the country back to 1930.

It's called Capitalism. Maybe you should read up on it.

 

[struth]

It seems to me that the GOP voted alongside the democrats for the last massive spending.

The American people have no representation, and seemingly never have had any of any consequence.

Only 18 Republicans senators voted for the $1.7 trillion dollar Xiden bill

 

[pknopp]

Only 18 Republicans senators voted for the $1.7 trillion dollar Xiden bill

That's because that is all it took. How many voted against the 7.8 trillion in debt under Trump?

 

[Independentthinker]

It's called Capitalism. Maybe you should read up on it.

LOL. So, you're for socialism and inflation over one thousand percent where "democratic" elections only give you one person to vote for.

 

[pknopp]

LOL. So, you're for socialism and inflation over one thousand percent where "democratic" elections only give you one person to vote for.

No idea what you are ranting about. I note I am for the capitalists solution. You fail at business, you go out of business.

In reply you rant.

Capitalism, learn about it.

 

[struth]

That's because that is all it took. How many voted against the 7.8 trillion in debt under Trump?

A lot of that debt was spending already in the books....many tried to curb it....but no dembot wants to get on board with the largest drivers of our debt...medicare and SS

 

[Auld Phart]

 

[Harpy Eagle]

Easy. Bank collapse. We should have let it happen long ago. The void will be filled.

But by reading your remarks, no amount of explaining anything to you will work.

That is the right choice, but not an easy one.

Inflation hurts everyone, but the poor the most. Deposits are insured up to 250 grand so lower income people would not be hurt at all by a bank closing depending upon how fast the money was paid.

 

[Harpy Eagle]

many tried to curb it

Who?

 

[pknopp]

A lot of that debt was spending already in the books....many tried to curb it....but no dembot wants to get on board with the largest drivers of our debt...medicare and SS

No. But you'll excuse anything Trump did while condemning the same out of others. No one tried to curb it.

 

[pknopp]

That is the right choice, but not an easy one.

Inflation hurts everyone, but the poor the most. Deposits are insured up to 250 grand so lower income people would not be hurt at all by a bank closing depending upon how fast the money was paid.

Politicians and the people love those easy choices...........until it comes time to pay for them.