The damage from inflation does not go away, it is cumulative. Only deflation counters inflation.

[task0778]

A minimum wage increase to match inflation so far and stop, that's all we can do.

Do you realize that artificially raising wages is inflationary? I.E., more money chasing the same amount of goods and services?

 

[task0778]

Britain was dying as the World Superpower. The changeover from a fiat currency to a gold standard perhaps can not be made in a complete swoop. The highs and lows of a gold standard is smaller than a fiat currency. Britain had a fiat currency a lot longer than we did. The owners of the Federal Reserve own/control a lot of Fiat Banks in the world. If politicians do not use the fiat currency to keep their power, the currency will last a lot longer. The temptation is always there as we see here. The question is, how do we get inflation under control, and real growth returns without destroying tens of millions of people in an uneven way.

Answer: stop printing or creating so God Damn much money! IOW, restrict gov't spending to economic growth or less. And we're gonna have to find a better way to determine how economic growth is measured, GDP isn't accurate enough.

 

[Independentthinker]

If we have 8% Year over year inflation in 2022, that 8% is always with us.

This BS from Biden that inflation is only temporary is a lie for people who do not understand economics.

If you have 5% in 2021, 8% in 2022, and lets say back to 3% in 2023....and use 2020 as a baseline:

At the end of 2023, you are 1.05*1.08*1.03 from the beginning of 2020. That is 17% inflation over the 3 years.

The only way to get back to where we started is for NEGATIVE INFLATION....DEFLATION. If we go to -3% growth in 2023, we now have this equation:

1.05*1.08*.97= Now we are only 10% about the beginning of 2020.

Why do you people CONTINUE to listen to the LIES from the Biden ADMIN?

INFLATION PERMANENTLY DAMAGES THE ECONOMY.

Wake the fuck up, sheep!

Exactly. We just had 6.8% inflation so, if inflation for 2022 happened to come in at 0% (LOL), we would still have the same high prices we have today and the libtards would be declaring inflation was under control.

 

[TroglocratsRdumb]

People work hard and make sacrifices to save for their retirement and then greedy corrupt Democrats destroy people's savings with their inflation.
The Democrats also caused the Great Recession with their mortgage policies and that also screwed over people who work hard and pay their bills.
The Democrat Party's BACKWARDS economic policies create poverty.

 

[JohnDB]

Inflation has a unique effect on national debt...it shrinks it.

So the gubberment doesn't care so much about it.

It's much easier to pay back a trillion dollars when a trillion dollars buys what a million once did.

 

[ColonelAngus]

Exactly. We just had 6.8% inflation so, if inflation for 2022 happened to come in at 0% (LOL), we would still have the same high prices we have today and the libtards would be declaring inflation was under control.

They are too stupid to comprehend this.

Just like many communists thought gas prices only affect automobile fuel for consumers.....FUCKING OBLIVIOUS TO THE IMPACT ON THE ENTIRE ECONOMY.

These are the IDIOTS who wear masks.....EVEN THOUGH THEIR CULT LEADERS DO NOT!! FUCKING SHEEP.

 

[ColonelAngus]

Inflation has a unique effect on national debt...it shrinks it.

So the gubberment doesn't care so much about it.

It's much easier to pay back a trillion dollars when a trillion dollars buys what a million once did.

That is only 1 aspect.

 

[task0778]

Inflation has a unique effect on national debt...it shrinks it.

So the gubberment doesn't care so much about it.

It's much easier to pay back a trillion dollars when a trillion dollars buys what a million once did.

I missed your point. Are you suggesting that inflation is a good thing? Or do you believe we should print up $29 trillion dollars right now and pay off the debt because that money will be worth more next year? Isn't that the logical conclusion to what you're saying?

You are right about one thing, the politicians don't really care about inflation or the debt until it becomes a political issue that impacts them. They're all rich people and they won't feel the impact of inflation that the rest of us ordinary people will. But here's the problem as I see it: with respect to the debt, when inflation goes up the reaction is always to raise interest rates. that's how the Fed slows down the economy, less borrowing translates into less money changing hands which means less inflation. But the gov't continues to overspend and borrow more money anyway, so I don't see the shrinkage in the debt. And in fact as the debt principle and the interest rates on the debt both increase, the debt does not shrink at all but grows ever larger.

 

[WTH_Progs?]

We've always had inflation. It's a little higher now than it has been on average, but noting catastrophic yet.

In 1926 when Churchill switched Britain to a gold standard it caused a major economic crash - one that resulted in U.S. currency becoming the world's currency reserve.

Highest inflation rate since Carter & a Democrack controlled congress. What a coincidence.

You're right, it's only a little teeny bit higher than average. You know, because 8% is so close to Trump's average of about 2%.

 

[JohnDB]

I missed your point. Are you suggesting that inflation is a good thing? Or do you believe we should print up $29 trillion dollars right now and pay off the debt because that money will be worth more next year? Isn't that the logical conclusion to what you're saying?

You are right about one thing, the politicians don't really care about inflation or the debt until it becomes a political issue that impacts them. They're all rich people and they won't feel the impact of inflation that the rest of us ordinary people will. But here's the problem as I see it: when inflation goes up the reaction is always to raise interest rates. that's how the Fed slows down the economy, less borrowing translates into less money changing hands which means less inflation. But the gov't continues to overspend and borrow more money anyway, so I don't see the shrinkage in the debt. And in fact as the debt principle and the interest rates on the debt both increase, the debt does not shrink at all but grows ever larger.

The point was that they don't care...so long as they end up richer than everyone else and claim "victory" and a positive outcome while the truth is vastly different..

We, the people, ended up poorer and with less person freedom while they gained power and wealth as a result of their "leadership".

Politics these days seems to hinge more on investing strategies than on ideology.

 

[Independentthinker]

They are too stupid to comprehend this.

Just like many communists thought gas prices only affect automobile fuel for consumers.....FUCKING OBLIVIOUS TO THE IMPACT ON THE ENTIRE ECONOMY.

These are the IDIOTS who wear masks.....EVEN THOUGH THEIR CULT LEADERS DO NOT!! FUCKING SHEEP.

Maybe there is a reason why they wear masks, just like the KKK.

 

[pknopp]

Highest inflation rate since Carter & a Democrack controlled congress. What a coincidence.

You're right, it's only a little teeny bit higher than average. You know, because 8% is so close to Trump's average of about 2%.

Blueberries. What you said does nothing to address what I said.

I never claimed it was a "little teeny bit" of anything but not being able to actually address what I said you have to make things up.

 

[ColonelAngus]

We are printing trillions of $$$ while we have a supply chain problem.

More MONEY going after LESS products means.....................

INFLATION!!!

 

[HenryBHough]

Don't believe that deflation cannot happen. Read Japanese history.

The miracle of compound interest can make you rich - if anything pays interest ever again.

The miracle of compounded inflation can reduce you to poverty. And, thanks to St. Xiden, it will.

 

[Richard-H]

Highest inflation rate since Carter & a Democrack controlled congress. What a coincidence.

You're right, it's only a little teeny bit higher than average. You know, because 8% is so close to Trump's average of about 2%.

Do you mean the inflation that we have because the orange idiot started a trade war with China, which responded with a bio-weapons attack on the world, which in turn nearly shut down our economy and caused a massive disruption to our supply chain that President Biden has to deal with?

That inflation?

 

[WTH_Progs?]

Do you mean the inflation that we have because the orange idiot started a trade war with China, which responded with a bio-weapons attack on the world, which in turn nearly shut down our economy and caused a massive disruption to our supply chain that President Biden has to deal with?

That inflation?

Oh look, the Richard was called out and is now twisting, who'd have thought a PROGZ would do that?

Sure Richard, you're a leftist, it's whatever you want it to be.

 

[Richard-H]

Inflation vs. deflation:

Inflation - Bad for lenders

Deflation - Bad for debtors

Yet it seems that it's natural for both supply and demand to fluctuate constantly - so there should always be inflation and deflation.

Perhaps the real problem is that we are a credit based society, where wealth is measured more by credit rating and debt than by savings.

Maybe fighting inflation and deflation is really the tail wagging the dog.

 

[Thinker101]

Do you mean the inflation that we have because the orange idiot started a trade war with China, which responded with a bio-weapons attack on the world, which in turn nearly shut down our economy and caused a massive disruption to our supply chain that President Biden has to deal with?

That inflation?

Don't you worry, just keep wearing your mask....dumbass.

 

[Richard-H]

Oh look, the Richard was called out and is now twisting, who'd have thought a PROGZ would do that?

Sure Richard, you're a leftist, it's whatever you want it to be.

Unlike you, I don't have selective memory.

 

[EyeBRollin]

Conservatives want deflation?

Jesus Christ you conservatives are an existential threat. Conservatives destroy everything they touch.