Surging inflation hurts low-income Americans the most

[Ordinary Guy]

What a surprise, proven again and again, Democrats do not care about the poor nor represent their interests-OG

American consumers are grappling with the highest inflation rate in more than three decades, and the surge in the price of everyday goods is disproportionately hurting low-income workers, according to a new analysis published Monday by the Joint Economic Committee Republicans.

The research concluded that higher inflation – which erodes individual purchasing power – is especially harmful to low- and middle-income Americans. The GOP lawmakers cited research from both the Federal Reserve Banks of Cleveland and New York, which found that inflation reduces poor individuals’ lifetime consumption opportunities more than their wealthier counterparts – largely due to rising gasoline prices.

WHERE IS SURGING INFLATION HITTING AMERICANS THE HARDEST?

"Inflation reduces poor Americans’ quality of life, and rising gas prices specifically increase the cost of living for poor Americans living in rural areas much more than for richer Americans," the JEC analysis said.

https://www.foxbusiness.com/economy/...come-americans

 

[pknopp]

It's why the Democrats failed when they backed and fully supported the massive pumping of the markets.

 

[Otis Mayfield]

If you have a mortgage, inflation is nice.

 

[Mikeoxenormous]

What a surprise, proven again and again, Democrats do not care about the poor nor represent their interests-OG

American consumers are grappling with the highest inflation rate in more than three decades, and the surge in the price of everyday goods is disproportionately hurting low-income workers, according to a new analysis published Monday by the Joint Economic Committee Republicans.

The research concluded that higher inflation – which erodes individual purchasing power – is especially harmful to low- and middle-income Americans. The GOP lawmakers cited research from both the Federal Reserve Banks of Cleveland and New York, which found that inflation reduces poor individuals’ lifetime consumption opportunities more than their wealthier counterparts – largely due to rising gasoline prices.

WHERE IS SURGING INFLATION HITTING AMERICANS THE HARDEST?

"Inflation reduces poor Americans’ quality of life, and rising gas prices specifically increase the cost of living for poor Americans living in rural areas much more than for richer Americans," the JEC analysis said.

https://www.foxbusiness.com/economy/...come-americans

Yes it does. Stagnation and economic Malaise was the fault of Jimmy the peanut Carter, and he only lasted 4 years until Ronald Reagan (Ex-Democrat) came in and set the United States on the path to economic success. Oh well, Joe Biteme, is going to repeat Carter, lets just hope China doesnt drop a hypersonic on his dumbass...

 

[Ordinary Guy]

If you have a mortgage, inflation is nice.

that is not entirely true as high inflation is usually followed by high interest rate i.e Jimmy Carter, so in essence you pay more for the same piece of property

 

[Moonglow]

What a surprise, proven again and again, Democrats do not care about the poor nor represent their interests-OG

American consumers are grappling with the highest inflation rate in more than three decades, and the surge in the price of everyday goods is disproportionately hurting low-income workers, according to a new analysis published Monday by the Joint Economic Committee Republicans.

The research concluded that higher inflation – which erodes individual purchasing power – is especially harmful to low- and middle-income Americans. The GOP lawmakers cited research from both the Federal Reserve Banks of Cleveland and New York, which found that inflation reduces poor individuals’ lifetime consumption opportunities more than their wealthier counterparts – largely due to rising gasoline prices.

WHERE IS SURGING INFLATION HITTING AMERICANS THE HARDEST?

"Inflation reduces poor Americans’ quality of life, and rising gas prices specifically increase the cost of living for poor Americans living in rural areas much more than for richer Americans," the JEC analysis said.

https://www.foxbusiness.com/economy/...come-americans

The entire world is going through the pains of starting up society from the pandemic, I guess the Democrats control the world by your genius analogy.

 

[Moonglow]

Yes it does. Stagnation and economic Malaise was the fault of Jimmy the peanut Carter, and he only lasted 4 years until Ronald Reagan (Ex-Democrat) came in and set the United States on the path to economic success. Oh well, Joe Biteme, is going to repeat Carter, lets just hope China doesnt drop a hypersonic on his dumbass...

yet this time it is attributed to Trump shutting down the US.

 

[Moonglow]

If you have a mortgage, inflation is nice.

it doesn't seem to bother me.

 

[Moonglow]

It's why the Democrats failed when they backed and fully supported the massive pumping of the markets.

Yewah, the GOP would never do such a thing like they did in 2020...

 

[Slade3200]

What a surprise, proven again and again, Democrats do not care about the poor nor represent their interests-OG

American consumers are grappling with the highest inflation rate in more than three decades, and the surge in the price of everyday goods is disproportionately hurting low-income workers, according to a new analysis published Monday by the Joint Economic Committee Republicans.

The research concluded that higher inflation – which erodes individual purchasing power – is especially harmful to low- and middle-income Americans. The GOP lawmakers cited research from both the Federal Reserve Banks of Cleveland and New York, which found that inflation reduces poor individuals’ lifetime consumption opportunities more than their wealthier counterparts – largely due to rising gasoline prices.

WHERE IS SURGING INFLATION HITTING AMERICANS THE HARDEST?

"Inflation reduces poor Americans’ quality of life, and rising gas prices specifically increase the cost of living for poor Americans living in rural areas much more than for richer Americans," the JEC analysis said.

https://www.foxbusiness.com/economy/...come-americans

What do the democrats have to do with inflation?!

 

[Uncensored2008]

What a surprise, proven again and again, Democrats do not care about the poor nor represent their interests-OG

American consumers are grappling with the highest inflation rate in more than three decades, and the surge in the price of everyday goods is disproportionately hurting low-income workers, according to a new analysis published Monday by the Joint Economic Committee Republicans.

The research concluded that higher inflation – which erodes individual purchasing power – is especially harmful to low- and middle-income Americans. The GOP lawmakers cited research from both the Federal Reserve Banks of Cleveland and New York, which found that inflation reduces poor individuals’ lifetime consumption opportunities more than their wealthier counterparts – largely due to rising gasoline prices.

WHERE IS SURGING INFLATION HITTING AMERICANS THE HARDEST?

"Inflation reduces poor Americans’ quality of life, and rising gas prices specifically increase the cost of living for poor Americans living in rural areas much more than for richer Americans," the JEC analysis said.

https://www.foxbusiness.com/economy/...come-americans

That's the idea.

democrat's have a goal, to have 99% of Americans in dire, crushing poverty.

We took democrats slaves from us, now they will make us all slaves.

 

[pknopp]

What do the democrats have to do with inflation?!

I noted what they have to do with it. That is a bipartisan thing but the Democrats are supposed to be different. It's a great example for those of us that point out the two parties are mostly the same.

 

[Slade3200]

That's the idea.

democrat's have a goal, to have 99% of Americans in dire, crushing poverty.

We took democrats slaves from us, now they will make us all slaves.

Democrats are not responsible for the world wide inflation that is occurring as a result of the pandemic… don’t be stupid

 

[Uncensored2008]

yet this time it is attributed to Trump shutting down the US.

It's a little soon to try and rewrite history, Mac.

 

[Slade3200]

I noted what they have to do with it. That is a bipartisan thing but the Democrats are supposed to be different. It's a great example for those of us that point out the two parties are mostly the same.

inflation is being driven from supply chain issues worldwide. It’s not a Republican/Democrat thing. Take off the blinders

 

[pknopp]

inflation is being driven from supply chain issues worldwide. It’s not a Republican/Democrat thing. Take off the blinders

Inflation is also being driven by the trillions trillions that were pumped into the markets. It's been noted for years that this was going to happen. We can also point out that those who have greatly benefitted from those dollars aren't really affected by the rising prices, those who haven't are.

 

[Uncensored2008]

inflation is being driven from supply chain issues worldwide. It’s not a Republican/Democrat thing. Take off the blinders

A week ago the Reich had you conditioned to bleat that there is no inflation.

Now you bleat the lie that "IT'S NOT QUID PRO'S FAULT..."

You're a clown.

 

[Slade3200]

A week ago the Reich had you conditioned to bleat that there is no inflation.

Now you bleat the lie that "IT'S NOT QUID PRO'S FAULT..."

You're a clown.

Is that right?! Can you show when I said there was no inflation last week?! Since we both know you can’t then go ahead and admit you’re full of shit.

 

[Ordinary Guy]

Democrats are not responsible for the world wide inflation that is occurring as a result of the pandemic… don’t be stupid

Of course they are, their policies are driving the inflation, we are not strangers to this as California and NY have always been prime examples of poorly run states with higher prices for no reason

 

[Uncensored2008]

Is that right?! Can you show when I said there was no inflation last week?! Since we both know you can’t then go ahead and admit you’re full of shit.

Ohh look, "go fetch." No Reich member has ever used that clever ruse before....

{
For instance, oil prices are higher for two reasons. First, U.S. production has declined by about two million barrels per day since 2019, even as demand has recovered from the COVID-19-induced downturn. Oil markets are global, so the fall-off in output would not necessarily jack prices up, but our declining output needs to be offset by an increase elsewhere.

Enter OPEC, which has not restored output to the level necessary to bring down prices, despite repeated pleas from Biden.

Meanwhile, Biden has done a lot to discourage a resurgence in U.S. drilling and production. He has cancelled pipelines, threatened oil and gas producers with higher taxes, taken promising acreage out of play, such as the Arctic Natural Wildlife Refuge, slow-walked leasing and new drilling permits and, most recently, imposed new methane-curbing rules that make drilling more expensive.

What sensible person would invest in the oilfield in the face of such unrelenting hostility? Drilling activity is up, but nowhere near where it should be at $82 per barrel oil.

Another boost to inflation came from housing. With “shelter” accounting for some 40 percent of the CPI, economists have warned that fast-rising home prices would eventually seep into higher inflation readings. In October, we saw this occur, with the increase in the cost of shelter accelerating to 0.5 percent from September, an annualized rise of 6 percent.

One reason home prices have been increasing at nearly 20 percent per year is that the Federal Reserve has continued to buy up $15 billion worth of mortgage-backed bonds each month, keeping mortgage rates artificially low. The result has been a booming market, driving home prices, and now rents, higher.

At long last, the Federal Reserve has announced it will begin to throttle back its bond-buying program, including the purchases of mortgage-backed bonds. Critics think the Fed is behind the curve, having seriously underestimated price pressures.

Biden does not control the Fed, but he has made no secret of his preference for the easy money policies that have helped prop up the economy, and the stock market. Fed Chair Jerome Powell’s term ends in February; Biden has recently interviewed not only Powell but also Fed Governor Lael Brainard, a known dove and Obama appointee, for the position.}

Voters are correct: Biden is to blame for inflation

Ultimately, inflation is the result of too much money pursuing too few goods. That’s what is happening now.

thehill.com