Rand Paul explains 'Bidenflation'

[Natural Citizen]

First I do agree that the have been manipulating the CPI for years to make SS more solvent by decreasing the need for COLA's. That said, I am not sure how you think increased prices and inflation are unrelated since inflation is literally the measure of price increase over time.

I didn't contend that price increases and inflation are unrelated.

I said that price increases are only one consequence of inflation.

Inflation itself is an increase in the currency supply and credit.

 

[Natural Citizen]

That's actually a great question for someone to ask the press secretary.

Someone should ask her how the Biden administration defines inflation.

Could you imagine the look on her face? Deer in headlights...

The way she bumblefudged around, unsuccessfully, trying to look for a response on her cheat sheet about how increasing taxes lowers gas/food prices was painful enough to watch, but asking her how the administration actually defines inflation would be a hoot.

 

[frigidweirdo]

Did you somehow think the OP supports dumb Don? I didn’t take you as another typical duopoly dupe.

Do you think I know the OP?

 

[Dekster]

Most sectors are dominated by two to four companies, so yeah, the bullshit about 'free markets' and 'competition' is utter horseshit. Look at Baby Formula; 4 companies, with one of them holding 42% of the market. Oil industry, not any better. Meat packing? lol lol lol sure thing ...

SAme with stock exchanges; maybe five or six companies account for over 30% of their 'markets' swing and trading.


Commodities markets? Glencore and maybe three other firms. And the beat goes on and on.

Weak corrupt Presidents not only contribute to wars breaking out, higher crime rates, etc., they open the door to outright plundering of entire continents.

I don't know that plundering is happening. I am still thinking on this awhile, but my gut instinct is that Wall Street pulling all the cash back out of the economy that the fed injected into it may not be the worse scenario that could play out. Anyway, this all seems to be happening at the hands of the Fed and not the White House. They have lost their ability to control the economy and are reasserting themselves by tapering off "liquidity" and raising interest rates. That will force Wall Street to pile on more cash for rainy days. The knock on effect may be that we have 10% inflation instead of 20% inflation with all this newly "printed" money otherwise in wide circulation.

 

[gipper]

Do you think I know the OP?

Oh! Okay. He has been here a long time and I certainly knew his views.

At any rate, it appeared you assumed he is a Trumper. No? Yes?

 

[Natural Citizen]

Speaker of the House, Nancy Pelosi, professes that government spending reduces the national debt and is not inflationary...

 

[Toddsterpatriot]

Under normal circumstance I suppose. The problem with his argument as that we are not seeing a significant increase in economic velocity. If this were demand driven, we would expect to see the velocity pick up. Instead, it is relatively flat. I personally think a lot of people are jacking up prices just because they can get away with it by blaming "inflation".

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Money velocity is a useless statistic.

I personally think a lot of people are jacking up prices just because they can get away with it by blaming "inflation"

Inflation is an increase in the general price level.
If one sector is "jacking up prices", people would have less money to
spend in other sectors. Those prices would go down. The general price level would be unchanged.
When everyone is "jacking up prices", that's because the Fed created too much money.

 

[Toddsterpatriot]

Look at Baby Formula; 4 companies, with one of them holding 42% of the market. Oil industry, not any better.

What percentage of the oil market is controlled by the 4 largest companies?

 

[Cellblock2429]

I wouldn't believe anything from Rand Paul.

/----/ Not even this?

 

[Harpy Eagle]

What percentage of the oil market is controlled by the 4 largest companies?

The top 4 companies own 54% of market cap. The other 56% is divided between 234 companies.

Largest oil and gas companies by market cap

List of the largest oil and gas companies by market capitalization, all rankings are updated daily.

companiesmarketcap.com

 

[Toddsterpatriot]

The top 4 companies own 54% of market cap. The other 56% is divided between 234 companies.

Largest oil and gas companies by market cap

List of the largest oil and gas companies by market capitalization, all rankings are updated daily.

companiesmarketcap.com

Thanks.

But market cap isn't oil market. Also, your subtraction skills need work.

What percentage of oil production is controlled by the 4 largest companies?

 

[Dekster]

Money velocity is a useless statistic.

I personally think a lot of people are jacking up prices just because they can get away with it by blaming "inflation"

Inflation is an increase in the general price level.
If one sector is "jacking up prices", people would have less money to
spend in other sectors. Those prices would go down. The general price level would be unchanged.
When everyone is "jacking up prices", that's because the Fed created too much money.

Credit is at near record high and credit scores are also declining, so no...

 

[Toddsterpatriot]

Credit is at near record high and credit scores are also declining, so no...

No, money velocity isn't a useless statistic?

Or no, the Fed didn't create too much money?

 

[Dekster]

No, money velocity isn't a useless statistic?

Or no, the Fed didn't create too much money? as in people spending more on gas isn't a wash because they spend less on pizza. They are borrowing the money, buying both, and waiting til they get their income tax refunds to get caught up.

 

[Oddball]

As if Trump had a clue. He was pumping the economy without regard for what would happen.

Trump hasn't been in charge for nearly a year and a half, numbnutz.

 

[toobfreak]

I wouldn't believe anything from Rand Paul.

GOOD. That is how we like our democrats heading into a midterm slaughter: fat, dumb and as ignorant as usual.

 

[Orangecat]

I wouldn't believe anything from Rand Paul.

You're not intelligent enough to understand what he's saying, much less believe it.

 

[toobfreak]

Trump hasn't been in charge for nearly a year and a half, numbnutz.

Yes but you are not accounting for TTD---- Trump Time Dilation. As a democrat approaches the speed of Trump, they only experience one day's passage of time for every year without him!

By their estimate, Trump just left office on Monday.

 

[Orangecat]

lol lol lol a joke interview to lighten up the news a little. Paul is going to tell us all how the poor have way too much money n stuff and the country would be far better off with open borders and allow entire industries to collude to lower wages to below Vietnamese and Indonesian levels, and if Americans don't like it businesses can import entire villages from Third World shitholes, set up company stores, and the Fed can pay the companies' expenses. He will also point out the only reason for any military spending is so the govt. can shoot down any uppity proles who refuse to die in ditches quietly, and execute laid off workers when the business cycle slows down, same as the Social Darwinists hope to do everywhere via their Globalist agendas. This was the Gilded Age 'pro-business' agenda, adopted by Republican establishment in every detail and is still their real agenda, which is why 'libertarians' and commies all agree on the basics and have the same 'Utopia' in mind.

Nice straw man.

 

[AzogtheDefiler]

I like the idea of asking the press secretary to define inflation.