What kind of President would allow 9.1% inflation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Toddsterpatriot]

Why would I hate a number?

Do you hate the the numbers reported today on retail sales and bank profits which pushed the markets higher?

You thought someone was going to hate next months inflation numbers.........

 

[otto105]

Dumb ass otto105 is saying gas went from $2 a gallon to $5 a gallon, but dropped back down to $4.50, so Biden is doing a kick ass job! Now gas is sill more than double when Biden took office!!!!!

That's what he said! LOL, he's a total racist, just sad, LOL

The average price of gasoline in January 2021 was about $2.33/GAL.

I can buy gasoline in my city currently at $3.99/GL.

I really don't want to go back to the depths of a global pandemic to get gasoline back to $2.33/GAL.

Do you?

 

[otto105]

You thought someone was going to hate next months inflation numbers.........

Yeah, you. Inflation has peaked and the July CPI will reflect that.

 

[ElmerMudd]

you are just a trained monkey for the democrats elmer.....

Right, Harry. I gave Trump a pass on the economy tanking because the main cause was COVID.
You and the other Trump trained monkeys would blame Biden for a tanked economy even if caused by COVID.
Trained Monkey rules (You know them)
Everything Donald Trump does is good.
Everything Donald Trump's opponents do is bad.

 

[ElmerMudd]

Prices are 100% higher, not 9.1%.
What the 40 Year Record Inflation Numbers Don’t Reflect, is the REAL 40 Year Record Inflation Numbers.
The reported 9.1% inflation rate is a concoction by the Biden administration. It is the CPI which comes from the Bureau of Labor Statistics, which is part of Biden's Dept of Commerce.
Prices have more than doubled on just about everything. Gas, rent, food, you name it. That's more than 100% inflation.

Dumbass, do you know the difference between observational statistic and statistically significant statistic.
Of course you don't. You are a dumbass.

 

[ElmerMudd]

Biden's family was made filthy rich by the Chinese. He doesn't give a shit about us real Americans having to deal with his massive inflation.

Flash is not a real American. No confederate should be allowed USA citizenship. They are like all terrorists who have tried to bring our country down.
And the idiots lost the civil war. They are like Trump. Confederates think it was a rigged war. LOSERS

 

[ElmerMudd]

The misery index economy with big inflation was handed to reagan . Reagan's reforms and policies brought inflation back down. Orange man handed the installed one an economy with a 1.3 percent inflation rate. A year and a half later, biden has it cruising above 9 percent and headed for hyperinflation. Tell us what your puppet is doing to reduce inflation? At least jimmeh passed a law allowing homebrewing.

Here's the buffoons answer to the high oil prices. This is all planned.

We will see what Biden does.
Trained monkeys, like you, are so predictable. Reagan can do no wrong. Biden does everything wrong. IDIOT

 

[ElmerMudd]

In a free capitalist country the President has only very limited power to effect the economy.

Perhaps you should be blaming business owners for raising their prices.

I agree. Many factors contribute to all aspects of the economy. No President has absolute controll of any aspect of the economy.

 

[hadit]

Inflation is a global phenomenon, dipshit.

Next stupid question.

That is no excuse to ignore the problem here. WWII was a global thing, too. Did that absolve FDR of doing anything about it?

 

[Toddsterpatriot]

The law of supply and demand assumes that everyone has roughly the same wealth. It's essentially a bidding system.

Those people that have a greater need or desire for a product are willing to pay more. Those with a lesser need or just a whimsical desire pay less.

It's then up to the supplier to decided a price. If it's too high he loses sales from the consumer that aren't willing to pay that much. If the price is set too low, he loses the extra profit from those willing to pay more. The supplier must find the golden price that maximizes profit.

However, if there is a huge wealth gap, people with a whimsical desire, but who are extremely wealthy, will pay ridiculous prices. Sometimes they want to pay more just knowing that other people can't afford to pay the same.

This results in an incentive for the supplier to produce less, but charge astronomical prices.

If a supplier can sell a single gross of widgets for a million dollars, rather than a million grosses for a dollar, he'll do it. It's easier & cheaper in every way to produce that single gross and make a million dollars.

So as the wealth gap increases supply decreases and inflation goes up.

Why should Saudi Arabia increase it's oil production when it's just as profitable & easier to lower production and raise prices.

It's called 'price gouging' - it's as old as commerce itself.

Sorry you didn't learn about it in your ECON101 class, but economists tend to promote a point of view that's most beneficial to the wealthy.

The law of supply and demand assumes that everyone has roughly the same wealth.

No it doesn't. But that's funny.

It's essentially a bidding system.

Yes it is.

Those people that have a greater need or desire for a product are willing to pay more. Those with a lesser need or just a whimsical desire pay less.

Absolutely. That's economics.

It's then up to the supplier to decided a price. If it's too high he loses sales from the consumer that aren't willing to pay that much. If the price is set too low, he loses the extra profit from those willing to pay more. The supplier must find the golden price that maximizes profit.

Yes.

If a supplier can sell a single gross of widgets for a million dollars, rather than a million grosses for a dollar, he'll do it.

Elon Musk isn't going to demand many Hyundais, I'm not going to demand many super yachts.
Supply and demand still works.

It's easier & cheaper in every way to produce that single gross and make a million dollars.

Sounds like you have the perfect business plan.
Let me know when you're a billionaire.

So as the wealth gap increases supply decreases and inflation goes up.

Why?
All American consumers, minus the very rich, are still a huge market that needs to be supplied.

Why should Saudi Arabia increase it's oil production when it's just as profitable & easier to lower production and raise prices.

If they're sure another supplier won't increase production and take their market share, they could do that.

Why would McDonalds make more Big Macs? They could just cut the number of Big Macs in half and double their prices. What could go wrong?

It's called 'price gouging' - it's as old as commerce itself.

Price gouging occurs when a seller increases the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair.

Reasonable......fair.

We obviously need a new government bureaucracy to define those words.
Probably a million new government workers too.

Sorry you didn't learn about it in your ECON101 class,

LOL! You funny.

 

[hadit]

If Trump had won the election, we would have high inflation, high gas prices, high grocery prices.

And Putin would be in Kiev.

Ifs and maybes. Crap in one hand, put ifs in the other. Which one fills up first? The bottom line remains, TRUMP! is irrelevant because Quid Pro is in charge.

 

[Toddsterpatriot]

If needed the government should take control of them, keeping them marginally profitable while holding the cost to consumer down.

Exactly!

Just like the government made college costs reasonable by taking control of student lending

The owners would still get a profit, but it would be minimal.

It worked in Venezuela. Just look at all the oil profit the government gets to keep.

 

[otto105]

That is no excuse to ignore the problem here. WWII was a global thing, too. Did that absolve FDR of doing anything about it?

FDR did a lot about it.

 

[ElmerMudd]

Inflation is worldwide. This has nothing to do with Biden.

My point is to say to the Trump minions, even their hero had 9% inflation. There is only so much a President can do.

 

[otto105]

Exactly!

Just like the government made college costs reasonable by taking control of student lending

The owners would still get a profit, but it would be minimal.

It worked in Venezuela. Just look at all the oil profit the government gets to keep.

College was more affordable before post reagan conservatives started defunding state universities.

 

[Toddsterpatriot]

Yeah, you. Inflation has peaked and the July CPI will reflect that.

If you say so.

What about Q2 GDP? If that's negative, that might also help CPI to decrease.

 

[hadit]

FDR did a lot about it.

And how absurd would it have been for him to say, "It's a global phenomenon", and do nothing about it? That's what we're hearing now from the peanut gallery about inflation. "Oh, it's not Quid Pro's fault, it's a global phenomenon", and they don't hold him accountable to do anything about it HERE. What are they thinking, that he's not responsible to do what America can about American inflation?

 

[otto105]

If you say so.

What about Q2 GDP? If that's negative, that might also help CPI to decrease.

If I say so?

The price of gasoline made up 60% of June CPI increase. So far in July the price of gasoline has fallen along with the cost of housing in many markets.

 

[Toddsterpatriot]

College was more affordable before post reagan conservatives started defunding state universities.

It wasn't more affordable when Dems threw hundreds of billions in student loans at them?

 

[Toddsterpatriot]

If I say so?

The price of gasoline made up 60% of June CPI increase. So far in July the price of gasoline has fallen along with the cost of housing in many markets.

The price of gasoline made up 60% of June CPI increase.

Where did you see that?