Republican Panic Caused Inflation - Thanks Fox!

[bigrebnc1775]

Dude. Why are you on here if you don’t actually provide a point of view? Comments like that after I post a real question just tells us you don’t know how to answer it.

How did Biden cause inflation when it was worldwide and lower here than any other G7 country?

You don’t know.

No one cares how much you cry. Biden's failures gave you four more years of trump.

 

[Toddsterpatriot]

So is he high or low? And are they still using Velocity of money?

He's just plain wrong.
Money supply was never just currency in circulation plus bank reserves.
People still calculate velocity of money, but it's a useless statistic.

 

[Toddsterpatriot]

His GDP has outflashed Trump's! Are you crazy.

Now imagine GDP without Biden's idiocy.

 

[beautress]

Studies show that Republican panic about the economy and their economic expectations actually caused inflation. Republicans projected outlandish inflation fears and the authors say that these inflationary expectations actually turned into inflation:

“We find strong positive and significant effects of inflation expectations on inflation itself.... A one percentage-point increase in 1-year or 5-year inflation expectations lead to a 1.3 or 2.3 percentage point increase in inflation, respectively.”

They figure that inflation would have topped out around 5% and would currently be at 1.7% under rational expectations.

The results are quite eye opening. If the paper is right, we're paying a huge price for the Trump/Fox-induced economic panic that continues to irrationally infest Republican voters.

Study suggests Republican panic caused recent inflation - Kevin Drum

View attachment 952838

I've read this thread. It is conveniently blaming the wrong people for a travesty caused by an untrustworthy notion. And it's author is blaming his loyal opposition. Yesterday I bought groceries and gas for a single parent family supporting five minor children. I barely have enough to buy a gallon of milk today. I don't feel like listening to balderdash that Republicans and not the administration whose bad calls caused a lot of pain to people making fifteen dollars an hour with a large number of children who can't buy enough groceries after paying rent they can't afford either. There's so much pocketbook pain out there for single parent moms, I really feel like crying, when I think of all the things my friend can't have to feed and clothe her kids. She gets some help, but not enough to sustain a big family. My vespers are doing double time lately as I realize how dire situations are for single moms whose partners disappeared when the going got tough. He's on my prayer list too because of his addiction to drugs that frequently land him in car sir ayshuns.

 

[John Edgar Slow Horses]

Yet you want to go back to Trump?

 

[Foxfyre]

Studies show that Republican panic about the economy and their economic expectations actually caused inflation. Republicans projected outlandish inflation fears and the authors say that these inflationary expectations actually turned into inflation:

“We find strong positive and significant effects of inflation expectations on inflation itself.... A one percentage-point increase in 1-year or 5-year inflation expectations lead to a 1.3 or 2.3 percentage point increase in inflation, respectively.”

They figure that inflation would have topped out around 5% and would currently be at 1.7% under rational expectations.

The results are quite eye opening. If the paper is right, we're paying a huge price for the Trump/Fox-induced economic panic that continues to irrationally infest Republican voters.

Study suggests Republican panic caused recent inflation - Kevin Drum

View attachment 952838

So who are the people who did this study? No credentials are shown. How many people were studied? Where was it published? Was it peer reviewed? Kevin Drum is getting pretty sloppy as the leftwing political journalist he has chosen to become when he sort of omits that information?

When he hasn't written anything positive about Republicans or ANY Republican for a very long time?

 

[John Edgar Slow Horses]

This needs to be asked of every alt right MAGA commie fascist poster: "So who did this study? How many people were studied? Where was it published? Was it peer reviewed? "

 

[bigrebnc1775]

He's just plain wrong.
Money supply was never just currency in circulation plus bank reserves.
People still calculate velocity of money, but it's a useless statistic.

The Velocity of Money Circulation Is Another Economic Myth | Mises Institute

Anyone who has taken a Keynesian-based macroeconomics course remembers the equation of exchange: MV = PY. This equation, however, is buried in fallacious

mises.org

 

[citygator]

No one cares how much you cry. Biden's failures gave you four more years of trump.

Cry much baby? You and I both know you are incapable of debating me. In fact everyone reading this does.

 

[citygator]

So who are the people who did this study? How many people were studied? Where was it published? Was it peer reviewed? Kevin Drum is getting pretty sloppy as the leftwing political journalist he has chosen to become when he sort of omits that information? When he hasn't written anything positive about Republicans or ANY Republican for a very long time?

Here you go buddy.

https://conference.nber.org/conf_papers/f192768.pdf

 

[bigrebnc1775]

This needs to be asked of every alt right MAGA commie fascist poster: "So who did this study? How many people were studied? Where was it published? Was it peer reviewed? "

Stop projecting traitor

 

[bigrebnc1775]

Cry much baby? You and I both know you are incapable of debating me. In fact everyone reading this does.


View attachment 952944

You shouldn't use a selfie. So stop crying and accept reality.

 

[OKTexas]

His GDP has outflashed Trump's! Are you crazy.

GDP is inflated, just like everything else.

.

 

[citygator]

You shouldn't use a selfie. So stop crying and accept reality.

Damn. I didn’t anticipate “I know you are but what am I?” As a witty retort. Well played.

If you have a substantive post though I am all ears. Or eyes since I’m reading this.

The question on the table is “How is Biden responsible for world wide inflation when the US had the lowest level of any G7?”

I’ll hang up and listen.

 

[Toddsterpatriot]

Damn. I didn’t anticipate “I know you are but what am I?” As a witty retort. Well played.

If you have a substantive post though I am all ears. Or eyes since I’m reading this.

The question on the table is “How is Biden responsible for world wide inflation when the US had the lowest level of any G7?”

I’ll hang up and listen.

Who said Biden was responsible for world-wide inflation?
His idiocy only impacted US inflation, which wasn't the lowest in the G7, btw.

 

[Lastamender]

Studies show that Republican panic about the economy and their economic expectations actually caused inflation. Republicans projected outlandish inflation fears and the authors say that these inflationary expectations actually turned into inflation:

“We find strong positive and significant effects of inflation expectations on inflation itself.... A one percentage-point increase in 1-year or 5-year inflation expectations lead to a 1.3 or 2.3 percentage point increase in inflation, respectively.”

They figure that inflation would have topped out around 5% and would currently be at 1.7% under rational expectations.

The results are quite eye opening. If the paper is right, we're paying a huge price for the Trump/Fox-induced economic panic that continues to irrationally infest Republican voters.

Study suggests Republican panic caused recent inflation - Kevin Drum

View attachment 952838

Did you make that chart yourself? What you are saying is at best laughable.

 

[John Edgar Slow Horses]

Who said Biden was responsible for world-wide inflation?
His idiocy only impacted US inflation, which wasn't the lowest in the G7, btw.

It was one of the lowest. Yes, inflation was world-wide.

 

[Lastamender]

It was one of the lowest. Yes, inflation was world-wide.

It still is.

 

[percysunshine]

An astronomical increase in the Fed balance sheet during the pandemic:

]

Despite trillions and trillions of dollars of QE by the Fed after the 2008 crash, the velocity of money kept declining. Thus, no inflation:

With QE on steroids during the pandemic, the velocity of money began picking up when the shutdowns were lifted:

Consumer expenditures (demand) rose to an all time high after the pandemic. The surge is seen from the bottom of the pandemic plunge followed by a rapid rise to new highs.

As a result in the spike of spending and consumerism, the number of shipping containers and the number of container ships at our California ports surged tremendously to record highs. This overwhelmed the system.

Here is a useful chart for your collection;

The obvious boost in retail sales coincides with the rise in inflation and with the government sending checks directly to people.

The surge in inflation directly resulted from the supply-to-demand imbalance caused by shutting down the economy (supply) and increasing household purchasing power by sending them checks (demand).
Savings accounts rocketed up, and people went out and spent the money.

So, as usual, government policy is the source of inflation. Locking down the economy was colossaly stupid, but then sending everyone money while goods and services were artificially restricted was epic malfeasance.

 

[bigrebnc1775]

Damn. I didn’t anticipate “I know you are but what am I?” As a witty retort. Well played.

If you have a substantive post though I am all ears. Or eyes since I’m reading this.

The question on the table is “How is Biden responsible for world wide inflation when the US had the lowest level of any G7?”

I’ll hang up and listen.

The answer is Biden gave you another 4 years of trump enjoy