The inflation situation is much WORSE than it was 40 years ago

[JWBooth]

Lived through the 70’s. It took a while for the money printing that was done to finance LBJ’s guns and butter programs. Nixon shut the gold window and made US currency truly purely fiat one. As prices rose Nixon instituted wage and price freezes leading to shortages. William Burns was appointed to chair the Federal Reserve in 1970 and the printing presses kept running, further devaluing the money. Gerald Ford thought campaign buttons “Whip Inflation Now” could slay the dragon and between the bad economy that was resulting, the shocks in oil prices, and his pardon of Nixon. Carter was no more adept at economic thought and appointed Wm. Miller who doubled down and inflation raged.

 

[Not a Monkeys Uncle]

 

[Not a Monkeys Uncle]

Inflation Spiked 7.5% In JanuaryâHitting A Nearly 40-Year High

For the third month straight, inflation is rising at the quickest rate in nearly 40 years.

www.forbes.com

 

[Lisa558]

Undocumented immigrants can't vote. You know in the way distant past they actually could vote? But not since the 1950's. Sorry. Each state has their own voter ID requirements and their own voter signature matching laws.

No one is advocating for the destruction of capitalism. It's been the tandem of our economic model since the 1930's..along with...(big draw in of breath)...socialism!! And our economy has thrived..up..and down..quite nicely.

So each state has their own voter ID requirements? You leftists are trying to get rid of that!

And some jurisdictions ARE letting illegals vote. In some radical-left town in California, the people who break out laws in entering this country are allowing to sit on a local council, making the laws!

 

[Lisa558]

In Virginia, the Republican Governor is trying to stop the sales tax on groceries during this high inflationary period to give working and middle income people some relief. Some Democrats are objecting. Natirally.

 

[Not a Monkeys Uncle]

Undocumented immigrants can't vote

First of all they are illegal aliens you moron.
Second of all New York lets them vote you liar.
And third, democrats let them vote everywhere and cheat you sack of shit.

NYC Council passes bill giving voting rights to non-citizens

Anyone who has lived in the city for 30 days and is a legal permanent resident in the United States will be allowed to vote in citywide elections.

abc7ny.com

 

[JackOfNoTrades]

So each state has their own voter ID requirements? You leftists are trying to get rid of that!

And some jurisdictions ARE letting illegals vote. In some radical-left town in California, the people who break out laws in entering this country are allowing to sit on a local council, making the laws!

No one is trying to get rid of any voter laws...except for Republicans who are worried they may not win another election unless they resort to voter suppression, gerrymandering, stacking courts, town councils, and city and state governments with people interested in preserving minority rule at all costs, and axing mail in voting (which has been used by states and the military for decades with no issues). I will reiterate for you, each state has their own voter ID requirements and signature matching requirements.

Inflation was inevitable with a global pandemic squeezing the supply chain. This too will pass.

 

[JackOfNoTrades]

Yeah, right . . . admit it Jack, you live for my posts! The only thing that makes your nipples harder than me is CindyLou in the pen out back, next to that garage you know you'll never have.

Something substantial...please. You've shown flashes of it at points. These sophomoric posts are just plain boring.

 

[JackOfNoTrades]

First of all they are illegal aliens you moron.
Second of all New York lets them vote you liar.
And third, democrats let them vote everywhere and cheat you sack of shit.

NYC Council passes bill giving voting rights to non-citizens

Anyone who has lived in the city for 30 days and is a legal permanent resident in the United States will be allowed to vote in citywide elections.

abc7ny.com

And...they still can't vote in large part in this country, no matter what they are called. No, New York state has no laws permitting this. New York CITY at this point has allowed 800K to vote.

New York City is poised to be the first major city to allow non-citizens to vote in local elections

"I believe allowing the legislation to be enacted is by far the best choice, and look forward to bringing millions more into the democratic process," Mayor Eric Adams said.

www.businessinsider.com

 

[toobfreak]

Something substantial...please.

That's what she said last night, eh, Jack?

 

[CarlinAnnArbor]

Big Brother Joe will fix it!

Remember the Big Guy gets his 10%. No, not God!

 

[Indeependent]

In Virginia, the Republican Governor is trying to stop the sales tax on groceries during this high inflationary period to give working and middle income people some relief. Some Democrats are objecting. Natirally.

Advice...Do not try to have a fact based discussion with JackAss.

 

[Flash]

The Worthless Negro did not get very many things right. However, the one thing that we can all agree he did get right was when he said "never underestimate the ability of Joe Biden to fuck things up".

 

[toobfreak]

Big Brother Joe will fix it!

Joe isn't big brother, he is more like grampa Joe on Petticoat Junction!

He just kinda watches the world going by and occasionally,
someone even stops to tell him some of what is going on.

 

[sartre play]

Wow. You lefties miss the point. This is about the fact that the high returns of Treasuries - peaking around 15% in 1981 or 1982 - offset the high inflation. My dad locked in some 30-year Treasuries at around 13% - he missed the absolute peak, but that return was GREAT - and locked in for his entire retirement.

Now Biden has us in a high inflation with savings instruments paying 1% and 2%. The situation is much worse. Perhaps it would be better if you didn’t participate in a thread when you are so wrong about the point. You’ll just look ignorant.

30 Year Treasury Rate - 39 Year Historical Chart

Interactive chart showing the daily 30 year treasury yield back to 1977. The U.S Treasury suspended issuance of the 30 year bond between 2/15/2002 and 2/9/2006.

www.macrotrends.net

Back in 1982, inflation was just over 10%, but 10-year bonds were paying 14% and a 6-month CD hit 15%. So while people were being hit hard by the increased prices, people who had saved for a rainy day - and particularly retirees living on their savings - could protect their money from the erosion of inflation.

Today, savings rates pay squat, and savers are watching inflation eat into their savings. At current rates, retirees will have lost more than 20% of real money within three years.

ForecastChart.com

CD Interest Rate Chart - 6 Month CD

www.forecast-chart.com

Economics is not my long suit. But have been around going on 80 years & see most of the real problems are created by banks & wall street. and a congress that takes there money and hears their voice over ours.