Republican Panic Caused Inflation - Thanks Fox!

[citygator]

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

So are you going to ignore the fact that there was covid induced world wide inflation that affected the US and that we handled it better than any other country or are you just going to play word games. The fact is, I am right.

 

[citygator]

Here is a useful chart for your collection;

View attachment 953120

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.

You do know stimulus was a one time payment and would not drive lasting inflation? Right? The pieces that are sticking in inflation are wage increases, which is not bad, corporate profits, which add no value to the everyday American, and continued reduced production levels. Anyone who thinks a stimulus payment from 2020 and 2021 is driving inflation around the entire world in 2024 is nuts.

 

[bigrebnc1775]

So are you going to ignore the fact that there was covid induced world wide inflation that affected the US and that we handled it better than any other country or are you just going to play word games. The fact is, I am right.

You're just going to ignore that democrat governor's and democrat controlled states shit down it's own states economy. The fact is you're a believer in the cult.

 

[g5000]

Zombie Concepts: Velocity of Money​

Published on January 19, 2021 by Joseph Wang Free

In this series I will talk about dead macro concepts that refuse to die. Today’s installment of Zombie Concepts features the velocity of money – a concept often discussed but easily shown to be useless. I will draw heavily from a excellent recent IMF paper on the subject by central banking expert Peter Stella et al. Basically, the velocity of money is a useless concept because it is not stable nor mean reverting. It cannot be used to link money supply to GDP. It is not stable because 1) its measurement does not include transactions that do not contribute to GDP, and 2) it’s affect by technological changes. There is no justification in thinking that velocity will eventually rises, leading to higher GDP growth on account of the larger M2 money stock.

Zombie Concepts: Velocity of Money

This post describes why the velocity of money is a dead concept that should be forgotten.

fedguy.com

If you read the IMF paper upon which that article was based, you will find the author claimed the massive increase in stimulus by central banks would not result in inflation.

That paper was written in January 2021.

D'oh! BAD TIMING!

 

[bigrebnc1775]

If you read the IMF paper upon which that article was based, you will find the author claimed the massive increase in stimulus by central banks would not result in inflation.

That paper was written in January 2021.

D'oh! BAD TIMING!

You're a true believer in the cult if I hate trump.

 

[percysunshine]

You do know stimulus was a one time payment and would not drive lasting inflation? Right? The pieces that are sticking in inflation are wage increases, which is not bad, corporate profits, which add no value to the everyday American, and continued reduced production levels. Anyone who thinks a stimulus payment from 2020 and 2021 is driving inflation around the entire world in 2024 is nuts.

There were several payments. I know this because they showed up when I filed my taxes. There were also direct payments for unemployment. People were making more money being unemployed than they were working. I also know this because I have family members who lost their jobs and filed. I saw the statements. There were also direct covid payments to busineses and to hospitals. They went out and spent the money.

It is economics 101;

 

[g5000]

You're a true believer in the cult if I hate trump.

You have nothing to contribute to serious conversations.

 

[bigrebnc1775]

You have nothing to contribute to serious conversations.

I gave you a basic fact
There is nothing serious about a misleading lie you push.

 

[Toddsterpatriot]

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

Post your evidence.

 

[Toddsterpatriot]

So are you going to ignore the fact that there was covid induced world wide inflation that affected the US and that we handled it better than any other country or are you just going to play word games. The fact is, I am right.

I won't ignore that Biden's policies added to US inflation.
Or that you haven't shown we handled it better.

 

[John Edgar Slow Horses]

Post your evidence.

You know the evidence, so don't play what you are, dumb, so, no not 'just once more.'

 

[John Edgar Slow Horses]

I won't ignore that Biden's policies added to US inflation.
Or that you haven't shown we handled it better.

Oh, you are such an infantile homer. Trump's incompetence in the beginning of the Covid attack led to supply and demand disruptions that spread world wide. Xi's shutting down China really hurt the world's economy.

 

[Toddsterpatriot]

If you read the IMF paper upon which that article was based, you will find the author claimed the massive increase in stimulus by central banks would not result in inflation.

That paper was written in January 2021.

D'oh! BAD TIMING!

That's awesome.
Velocity of money is still a useless measure.

 

[Toddsterpatriot]

You know the evidence, so don't play what you are, dumb, so, no not 'just once more.'

You can't post evidence to support your claim?

I'm shocked!!!

 

[Toddsterpatriot]

If you read the IMF paper upon which that article was based, you will find the author claimed the massive increase in stimulus by central banks would not result in inflation.

That paper was written in January 2021.

D'oh! BAD TIMING!

If you read the IMF paper upon which that article was based, you will find the author claimed the massive increase in stimulus by central banks would not result in inflation.

Post the part where he said "the massive increase in stimulus by central banks would not result in inflation".

 

[John Edgar Slow Horses]

You can't post evidence to support your claim?

I'm shocked!!!

Not to one who won't accept or understand evidence, so, no, not 'just once more' for you.

 

[Toddsterpatriot]

Not to one who won't accept or understand evidence, so, no, not 'just once more' for you.

It's harder for me to accept your lack of evidence.

 

[citygator]

I won't ignore that Biden's policies added to US inflation.
Or that you haven't shown we handled it better.

Our results were better. "Why" is only an opinion that you will never agree with me on. However, you can be an adult, admit that inflation was world wide, admit that ours was lower than our peers, and deduce our own activities either helped inflation or didnt hurt.

 

[Toddsterpatriot]

Our results were better. "Why" is only an opinion that you will never agree with me on. However, you can be an adult, admit that inflation was world wide, admit that ours was lower than our peers, and deduce our own activities either helped inflation or didn't hurt.

Our results were better.

Liar.

inflation was world wide, admit that ours was lower than our peers,

Ours wasn't lower.

 

[citygator]

Our results were better.

Liar.

inflation was world wide, admit that ours was lower than our peers,

Ours wasn't lower.

This highlights how we came out of covid better.

Better economy (Check )

Better Inflation (Check )

Better employment market (Check )