Inflation, inflation, inflation!!!!!!!!!!!!!!!!!!!

[Woodznutz]

Ownership (66% of household own their home) is at a ten year high in the country so it is hard to gauge if it is really a barrier more than ever.

I mentioned on another thread my kid just bought his first house and his close friend bought hers with her new husband as well with rates in the 7s. They are all college educated with good job 26-27 years old. That is when I bought my first one as well. I struggled pulling my down payment together at 27 and my rate was in the 7's in the late 90s.

I bought my first place, a 20-acre hobby farm, back in 1972. Interest rate was 8 percent.

 

[Markle]

Hey, don't forget that the recession Trump handed Biden was worse than the Bush Great Recession. Don't forget Trump sent out the first stimulus checks. Talk about a waste of money. I was working and I got a check. At least guys like me didn't get the Biden stimulus money.

“We handed out 4 trillion dollars of free money, 280 billion of which was just flat-out stolen in what the AP called ‘the greatest grift in US history’ and which started an inflationary spiral that we now blame on Biden. So we’re gonna bring back Trump?! The guy who ignored COVID like it was the dinner check?!”

“Talk about not learning anything,” Maher concluded.

 

[Woodznutz]

You didn’t address the record oil output we are seeing. Also… How will a bit more oil affect worldwide prices when OPEC can cut as much as they want to keep prices high?

Our 'record output' enables our oil exports, which help to make up for what OPEC has reduced. Part of reducing supplies, thus high prices, is to reduce use and thus mitigate climate change. Fossil fuels also have long been thought of as a form of cheap labor. Maybe those days are behind us.

 

[citygator]

Are wages up by more than 18%? Even you don't believe that, why lie?

Yea. Up 28% since the beginning of 2019 and 22% since the end of 2019

$1,136/$899 = 28%
$1,136/934 = 22%

So yes... wages are up more than inflation.

 

[Markle]

Yea. Up 28% since the beginning of 2019 and 22% since the end of 2019

$1,136/$899 = 28%
$1,136/934 = 22%

So yes... wages are up more than inflation.


View attachment 949550

In case you have not noticed, President Biden took office in January 2020, not 2019, and you have to include all workers, not just full-time workers.

Inflation flattens Americans' wealth gains under Biden: report

High inflation has flattened the growth in American household net worth in recent years, with little net growth in President Biden's first three years compared to his predecessor.

www.foxbusiness.com

 

[citygator]

In case you have not noticed, President Biden took office in January 2020, not 2019, and you have to include all workers, not just full-time workers.

Inflation flattens Americans' wealth gains under Biden: report

High inflation has flattened the growth in American household net worth in recent years, with little net growth in President Biden's first three years compared to his predecessor.

www.foxbusiness.com

You can’t take wages and inflation in the middle of the pandemic. It’s a bogus comparison. You have to look pre Covid to post Covid. So many low wage people were out of work during Covid it makes wages look funny and created suppressed low demand. Got to compare to pre Covid when things were normal.

 

[Markle]

You can’t take wages and inflation in the middle of the pandemic. It’s a bogus comparison. You have to look pre Covid to post Covid. So many low wage people were out of work during Covid it makes wages look funny and created suppressed low demand. Got to compare to pre Covid when things were normal.

Curious how COVID-19 had no effect whatsoever on the jobs "created" by President Biden.

 

[Harpy Eagle]

In case you have not noticed, President Biden took office in January 2020, not 2019

Actually he took office in Jan 2021, not 2020

 

[Markle]

Actually he took office in Jan 2021, not 2020

Good catch! Thank you! I screwed up!

 

[Harpy Eagle]

Good catch! Thank you! I screwed up!

Typos happen!

 

[citygator]

Curious how COVID-19 had no effect whatsoever on the jobs "created" by President Biden.

I didnt tout jobs "created". I would tout the the unemployment rate being record levels of low and participation being much higher in 25-55 year olds. Those are real numbers unaffected by covid that Biden can brag about. But at least you recognize the bad comparison of inflation to the middle of the pandemic.

 

[citygator]

Good catch! Thank you! I screwed up!

I knew what you meant.