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As Predicted, Inflation Increasing Under Biden Just Like Under Carter

The Purge

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Townhall.com ^ | June 21, 2021 | Rachel Alexander

Remember long gas lines under President Jimmy Carter? Gas is now over $3 per gallon. This is higher than it was under the Carter administration, $2.40, when accounting for inflation. Under Trump, it dropped under $2. We’re about to see deja vu of the Carter years with inflation, as Biden creates a legacy of attacking poor and low-income Americans right after entering office. He’s fostering this by handing out massive amounts of paper money in stimulus funds to special interest groups, and the pet pork is about to continue in his massive $2 trillion infrastructure plan, which is really a lot of so-called “human infrastructure,” not even transportation.

Why is this happening? If you print more paper money and hand it out to people, so many people have more money, the cost of things is going to increase. If enough people getting the handouts can afford $4 gallons of gas, suppliers are going to increase the cost in order to make more money. There hasn’t been any stimulus checks for everyone--e.g. the poor--since March, so they’re going to get hit the worst when consumer prices go up. Once inflation is rampant, the Fed will increase interest rates which is likely to lead to a recession.

Former President Donald Trump was aware of this when he signed stimulus bills, and kept much of the excess out of the bills. He was aware that there was a tipping point, where the free money had to stop flowing. Consequently, consumer prices stayed relatively low during the Trump administration. Inflation dropped during his presidency, to just 1.2% before he left office. Biden and the Democrats don’t care that COVID-19 is winding down, they are going to push the limit as far as they can to keep the money flowing to their pet issues and cronies, which keeps campaign contributions coming into Democratic coffers.

In the March COVID-19 stimulus bill, called the American Rescue Plan, Amtrak got $1.7 billion, no surprise since Biden has been funneling money to his home state big business for years. The National Endowment for the Arts received $135 million and the Corporation for Public Broadcasting $175 million. Another $5 billion went to farmers--as long as they’re not white. Obamacare got its first major expansion, almost $62 billion more. People with kids got more money; a single parent making $75,000 got an extra $1,400 per child.

The bill was full of money for the COVID-19 vaccine--but so many Americans oppose getting the vaccine that many doses are going unused, a waste. They can’t be transferred to other countries since they have expiration dates. Additionally, the Biden administration is currently wasting millions, if not billions, of money to lure people into getting the vaccine on reward programs that aren’t working; Biden’s goal is to get 70% of Americans vaccinated by July 4 but he’s clearly not going to reach it.

States are prohibited from using the aid to cut taxes, ensuring that many businesses don’t create jobs or invest. Instead, the money was prioritized for left wing states that stayed locked down the longest, punishing red states that got people back up and working faster.

Consumer prices are increasing everywhere, 5% over the past year, the biggest inflation spike since 2008. Energy costs are up 56.2% over the past year. Excluding energy and food, which are more volatile, prices are up 3.8% over the past year — the biggest 12-month jump since 1992. The price of lumber is at an all-time high, hurting the price of homes and trickling down to rent.

Democrats are attempting to downplay the inflation by saying it is temporary. But the Federal Reserve Chair under Carter, Arthur Burns, said the same thing. To bolster their defense, Democrats point to the increase in car prices being caused by the pandemic. But that is different, there is a direct correlation involved. There is a car shortage caused by a lack of semiconductors, because manufacturers pivoted to making semiconductors for home computers as people drove less and worked from home. And gas prices were increasing drastically even before the temporary spike caused by the Colonial Pipeline hacking.

Former Clinton Treasury Secretary Larry Summers, no conservative but obviously an expert on fiscal and monetary policy, is warning of a “Vietnam inflation scenario.” He says there is only a one in three chance that the current inflation won’t lead to a bad outcome.

When inflation was only moderately high under President George W. Bush in 2008, House Speaker Nancy Pelosi slammed him, saying inflation "threatens to devour the paychecks of hard-working Americans." So where is her concern for low-income Americans now? The poor will also be hit hard, food stamps will pay for less food.

The inflation shouldn’t be happening considering the economy is supposed to be rebounding with COVID-19 receding. We should be seeing a huge boom, such as after World War II when things returned to normal. The nation converted then from military production to peacetime production. The U.S. should be transitioning to post-COVID production, but instead Biden isn’t allowing it to by diverting money to pet causes. People trying to get back into the workforce are finding that the job situation doesn’t match their skills; there are plenty of jobs in the COVID-19 vaccine area and working for Amtrak but fewer where people really need them, since states aren’t allowed to give tax breaks to companies that could create those jobs. Arizona Attorney General Mark Brnovich, one of the few state AGs with guts to take on the Biden administration, sued the administration over the prohibition.

The Democrats’ plan is just to ignore inflation. "We’re going to keep an eye on it, but we think it should resolve in the next few months," Sameera Fazili, deputy director of the White House National Economic Council, said. It’s painful, but the Democrats are ensuring that Republicans dominate the midterm elections and defeat Biden in 2024.

MCJuCmd.jpg


An economic powerhouse....NOT!
 

Mac1958

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Not for sure yet. Supply chains are still disrupted. This just could be a spike.

No one knows, and some (like GS and the Treasury market) aren't at all convinced. Yet.

Some can hope for the worst, of course.
 

BlindBoo

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Under Trump, it dropped under $2.
During the Bush recession it dropped under 2 bucks too. Why do you think that price drop during a deadly pandemic is a good thing?
 

Moonglow

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Not for sure yet. Supply chains are still disrupted. This just could be a spike.

No one knows, and some (like GS and the Treasury market) aren't at all convinced. Yet.

Some can hope for the worst, of course.
I enjoyed the increased prices with tariffs being added on..
 

Moonglow

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JGalt

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Townhall.com ^ | June 21, 2021 | Rachel Alexander

Remember long gas lines under President Jimmy Carter? Gas is now over $3 per gallon. This is higher than it was under the Carter administration, $2.40, when accounting for inflation. Under Trump, it dropped under $2. We’re about to see deja vu of the Carter years with inflation, as Biden creates a legacy of attacking poor and low-income Americans right after entering office. He’s fostering this by handing out massive amounts of paper money in stimulus funds to special interest groups, and the pet pork is about to continue in his massive $2 trillion infrastructure plan, which is really a lot of so-called “human infrastructure,” not even transportation.

Why is this happening? If you print more paper money and hand it out to people, so many people have more money, the cost of things is going to increase. If enough people getting the handouts can afford $4 gallons of gas, suppliers are going to increase the cost in order to make more money. There hasn’t been any stimulus checks for everyone--e.g. the poor--since March, so they’re going to get hit the worst when consumer prices go up. Once inflation is rampant, the Fed will increase interest rates which is likely to lead to a recession.

Former President Donald Trump was aware of this when he signed stimulus bills, and kept much of the excess out of the bills. He was aware that there was a tipping point, where the free money had to stop flowing. Consequently, consumer prices stayed relatively low during the Trump administration. Inflation dropped during his presidency, to just 1.2% before he left office. Biden and the Democrats don’t care that COVID-19 is winding down, they are going to push the limit as far as they can to keep the money flowing to their pet issues and cronies, which keeps campaign contributions coming into Democratic coffers.

In the March COVID-19 stimulus bill, called the American Rescue Plan, Amtrak got $1.7 billion, no surprise since Biden has been funneling money to his home state big business for years. The National Endowment for the Arts received $135 million and the Corporation for Public Broadcasting $175 million. Another $5 billion went to farmers--as long as they’re not white. Obamacare got its first major expansion, almost $62 billion more. People with kids got more money; a single parent making $75,000 got an extra $1,400 per child.

The bill was full of money for the COVID-19 vaccine--but so many Americans oppose getting the vaccine that many doses are going unused, a waste. They can’t be transferred to other countries since they have expiration dates. Additionally, the Biden administration is currently wasting millions, if not billions, of money to lure people into getting the vaccine on reward programs that aren’t working; Biden’s goal is to get 70% of Americans vaccinated by July 4 but he’s clearly not going to reach it.

States are prohibited from using the aid to cut taxes, ensuring that many businesses don’t create jobs or invest. Instead, the money was prioritized for left wing states that stayed locked down the longest, punishing red states that got people back up and working faster.

Consumer prices are increasing everywhere, 5% over the past year, the biggest inflation spike since 2008. Energy costs are up 56.2% over the past year. Excluding energy and food, which are more volatile, prices are up 3.8% over the past year — the biggest 12-month jump since 1992. The price of lumber is at an all-time high, hurting the price of homes and trickling down to rent.

Democrats are attempting to downplay the inflation by saying it is temporary. But the Federal Reserve Chair under Carter, Arthur Burns, said the same thing. To bolster their defense, Democrats point to the increase in car prices being caused by the pandemic. But that is different, there is a direct correlation involved. There is a car shortage caused by a lack of semiconductors, because manufacturers pivoted to making semiconductors for home computers as people drove less and worked from home. And gas prices were increasing drastically even before the temporary spike caused by the Colonial Pipeline hacking.

Former Clinton Treasury Secretary Larry Summers, no conservative but obviously an expert on fiscal and monetary policy, is warning of a “Vietnam inflation scenario.” He says there is only a one in three chance that the current inflation won’t lead to a bad outcome.

When inflation was only moderately high under President George W. Bush in 2008, House Speaker Nancy Pelosi slammed him, saying inflation "threatens to devour the paychecks of hard-working Americans." So where is her concern for low-income Americans now? The poor will also be hit hard, food stamps will pay for less food.

The inflation shouldn’t be happening considering the economy is supposed to be rebounding with COVID-19 receding. We should be seeing a huge boom, such as after World War II when things returned to normal. The nation converted then from military production to peacetime production. The U.S. should be transitioning to post-COVID production, but instead Biden isn’t allowing it to by diverting money to pet causes. People trying to get back into the workforce are finding that the job situation doesn’t match their skills; there are plenty of jobs in the COVID-19 vaccine area and working for Amtrak but fewer where people really need them, since states aren’t allowed to give tax breaks to companies that could create those jobs. Arizona Attorney General Mark Brnovich, one of the few state AGs with guts to take on the Biden administration, sued the administration over the prohibition.

The Democrats’ plan is just to ignore inflation. "We’re going to keep an eye on it, but we think it should resolve in the next few months," Sameera Fazili, deputy director of the White House National Economic Council, said. It’s painful, but the Democrats are ensuring that Republicans dominate the midterm elections and defeat Biden in 2024.

MCJuCmd.jpg


An economic powerhouse....NOT!

I knew he would fail. I even predicted that he would fail. Not that I really wanted an American President to be such a failure but Geesus Krist, ya'll: Who the hell couldn't see this shit coming right out the gate?

I'm no Nostradamus, just a guy who's been around a long time and seen a bunch of shit. And when I tell you that this administration is the worst clusterfuck this country has ever seen, you might want to lay a little attention.

President Donald Trump? Sure, he tweeted mean tweets on Twitter and wasn't part of the old-school establishment. But he knew how to get shit done, and did exactly that. Love him or hate him. he had the best interests of this country at heart and truly had a vision worthy of the greatest Presidents we've ever had.

Too fuckin' bad. Now we get to reap the bitter harvest of the seeds that were sown. I hope it hurts a hell of alot.

We tried to tell you.
 

BlindBoo

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Please, pearl clutchers, the economy was in a forced coma last year, producers and big chain retailers are just taking a little more squeeze as the engine warm ups......
 

Moonglow

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Real wages (adjusted for inflation) grew throughout Trump's first three years in office - continuing a steady upward trend which began during the first of President Obama's two terms.
 

HaShev

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How they could sell us on that mere 16 cent savings memorial day comparison from a year ago is beyond me. Food is most certainly higher this year, there is no way that spin was a legit comparison. Example: value brand tissues a year ago at Walmart was 98 cents 160count, this year it's 96 cents so Biden administration would play a game of telling you that's 2cents less, but they conveniently (purposely)forget to factor in the box this year is only 100 tissues that equates to paying aprox 37.5% higher inflated cost.
So are they comparing 12 count hot dogs last year with 10 count this year?
Are they selecting only price comparisons that are remaining similar as last year while ignoring products that don't, in order to selectively narrate little change?
They wouldn't rig the counting would they? *L*
Some Pork this year per pound is 100% inflated,
Steaks are up 33%, Chicken up 25-33%,
Gasoline up 50%, vitamins up 33%, checkout mistakes and differences between the marked price and ring up price is miraculously always against the buyer at a rate of 5% last year to mistakes costing 10% of your bill more this year=100% increase in over paying clerk and stock mistakes. TV dinners up 15% just this week from last week. Only bread and raman noodles seems steady- the breakfast of Biden's and Fauci's homeless masses.
 

Asclepias

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Just a little hiccup as the effects of Drumpfs fucked up handling of Covid work themselves out.
 
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Townhall.com ^ | June 21, 2021 | Rachel Alexander

Remember long gas lines under President Jimmy Carter? Gas is now over $3 per gallon. This is higher than it was under the Carter administration, $2.40, when accounting for inflation. Under Trump, it dropped under $2. We’re about to see deja vu of the Carter years with inflation, as Biden creates a legacy of attacking poor and low-income Americans right after entering office. He’s fostering this by handing out massive amounts of paper money in stimulus funds to special interest groups, and the pet pork is about to continue in his massive $2 trillion infrastructure plan, which is really a lot of so-called “human infrastructure,” not even transportation.

Why is this happening? If you print more paper money and hand it out to people, so many people have more money, the cost of things is going to increase. If enough people getting the handouts can afford $4 gallons of gas, suppliers are going to increase the cost in order to make more money. There hasn’t been any stimulus checks for everyone--e.g. the poor--since March, so they’re going to get hit the worst when consumer prices go up. Once inflation is rampant, the Fed will increase interest rates which is likely to lead to a recession.

Former President Donald Trump was aware of this when he signed stimulus bills, and kept much of the excess out of the bills. He was aware that there was a tipping point, where the free money had to stop flowing. Consequently, consumer prices stayed relatively low during the Trump administration. Inflation dropped during his presidency, to just 1.2% before he left office. Biden and the Democrats don’t care that COVID-19 is winding down, they are going to push the limit as far as they can to keep the money flowing to their pet issues and cronies, which keeps campaign contributions coming into Democratic coffers.

In the March COVID-19 stimulus bill, called the American Rescue Plan, Amtrak got $1.7 billion, no surprise since Biden has been funneling money to his home state big business for years. The National Endowment for the Arts received $135 million and the Corporation for Public Broadcasting $175 million. Another $5 billion went to farmers--as long as they’re not white. Obamacare got its first major expansion, almost $62 billion more. People with kids got more money; a single parent making $75,000 got an extra $1,400 per child.

The bill was full of money for the COVID-19 vaccine--but so many Americans oppose getting the vaccine that many doses are going unused, a waste. They can’t be transferred to other countries since they have expiration dates. Additionally, the Biden administration is currently wasting millions, if not billions, of money to lure people into getting the vaccine on reward programs that aren’t working; Biden’s goal is to get 70% of Americans vaccinated by July 4 but he’s clearly not going to reach it.

States are prohibited from using the aid to cut taxes, ensuring that many businesses don’t create jobs or invest. Instead, the money was prioritized for left wing states that stayed locked down the longest, punishing red states that got people back up and working faster.

Consumer prices are increasing everywhere, 5% over the past year, the biggest inflation spike since 2008. Energy costs are up 56.2% over the past year. Excluding energy and food, which are more volatile, prices are up 3.8% over the past year — the biggest 12-month jump since 1992. The price of lumber is at an all-time high, hurting the price of homes and trickling down to rent.

Democrats are attempting to downplay the inflation by saying it is temporary. But the Federal Reserve Chair under Carter, Arthur Burns, said the same thing. To bolster their defense, Democrats point to the increase in car prices being caused by the pandemic. But that is different, there is a direct correlation involved. There is a car shortage caused by a lack of semiconductors, because manufacturers pivoted to making semiconductors for home computers as people drove less and worked from home. And gas prices were increasing drastically even before the temporary spike caused by the Colonial Pipeline hacking.

Former Clinton Treasury Secretary Larry Summers, no conservative but obviously an expert on fiscal and monetary policy, is warning of a “Vietnam inflation scenario.” He says there is only a one in three chance that the current inflation won’t lead to a bad outcome.

When inflation was only moderately high under President George W. Bush in 2008, House Speaker Nancy Pelosi slammed him, saying inflation "threatens to devour the paychecks of hard-working Americans." So where is her concern for low-income Americans now? The poor will also be hit hard, food stamps will pay for less food.

The inflation shouldn’t be happening considering the economy is supposed to be rebounding with COVID-19 receding. We should be seeing a huge boom, such as after World War II when things returned to normal. The nation converted then from military production to peacetime production. The U.S. should be transitioning to post-COVID production, but instead Biden isn’t allowing it to by diverting money to pet causes. People trying to get back into the workforce are finding that the job situation doesn’t match their skills; there are plenty of jobs in the COVID-19 vaccine area and working for Amtrak but fewer where people really need them, since states aren’t allowed to give tax breaks to companies that could create those jobs. Arizona Attorney General Mark Brnovich, one of the few state AGs with guts to take on the Biden administration, sued the administration over the prohibition.

The Democrats’ plan is just to ignore inflation. "We’re going to keep an eye on it, but we think it should resolve in the next few months," Sameera Fazili, deputy director of the White House National Economic Council, said. It’s painful, but the Democrats are ensuring that Republicans dominate the midterm elections and defeat Biden in 2024.

MCJuCmd.jpg


An economic powerhouse....NOT!
INFLATION popped up 5.4% in June. This means that your salary is reduced $2800 a year! The "FREE MONEY" of Biden "Covid Relief" was $1400. So the average American pays $2800 to receive $1400! Bad deal. Where is the missing $1400? "Half of all unemployment money was STOLEN BY CRIMINALS during pandemic."
 

wamose

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Democrats who thrive on free money, especially this economically retarded new generation, just don't have a grasp on our economy or the principal of delayed gratification. Todays Democrats, who are being led by political idiots, think that spending money we don't have today on things we don't need is the answer. That's Hedonism, just ask our countries self proclaimed economic expert, AOC. And that may be fine for the politicians who will use it to get re elected, but the lost generation, live for today ignoramuses, will suffer in 10-15 years when full blown communism becomes inevitable. Then again, that is the Democrat's ultimate plan.
 

ESDRAELON

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Too fuckin' bad. Now we get to reap the bitter harvest of the seeds that were sown. I hope it hurts a hell of alot.

We tried to tell you.
Yep... and the fools that suffer the worst are never going to vote for anyone who isn't Democrat. Let them enjoy their pain. They earned it with eyes wide-open.
 

Mr Clean

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They seem to thing that gas never increased in price when Trump was president.
They were giving gas away when St Trumpy was running things.

Along with a free set of steak knives.

Ah, the good old days.
 

JGalt

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Yep... and the fools that suffer the worst are never going to vote for anyone who isn't Democrat. Let them enjoy their pain. They earned it with eyes wide-open.

But just how much pain can the left take before they turn on their elected shithead "leaders"? I know they're used to biting the pillow while they're taking it up the ass, but I don't think any of them have the balls to admit how badly they fucked up.

I swear, If Joe Biden or Kamala Harris told them to line up for a cup of cyanide-laced Kool-Aid, some of these idiot leftists on here would try to cut in line.
 

Ben Thomson

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I knew he would fail. I even predicted that he would fail. Not that I really wanted an American President to be such a failure but Geesus Krist, ya'll: Who the hell couldn't see this shit coming right out the gate?

I'm no Nostradamus, just a guy who's been around a long time and seen a bunch of shit. And when I tell you that this administration is the worst clusterfuck this country has ever seen, you might want to lay a little attention.

President Donald Trump? Sure, he tweeted mean tweets on Twitter and wasn't part of the old-school establishment. But he knew how to get shit done, and did exactly that. Love him or hate him. he had the best interests of this country at heart and truly had a vision worthy of the greatest Presidents we've ever had.

Too fuckin' bad. Now we get to reap the bitter harvest of the seeds that were sown. I hope it hurts a hell of alot.

We tried to tell you.
But he knew how to get shit done..LOL!!
 

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