Who's responsible for the current high prices?

[TruthNotBS]

They should stick to what's outlined in the Constitution.
Yeah, they did price control before AND IT WAS A FUCKING DISASTER.
GTFOH!!!!!!

No, it wasn't, it allowed the US economy to function in the two world wars, and it can do the same today, if we're in a serious recession or in hyperinflation. Our government has an obligation to make sure our economy doesn't collapse and you lose your pension, savings, business, job..etc.

 

[TruthNotBS]

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Reactions:SeaMajor7

No not "fake news", the real news. Price controls worked in WW2 under extreme conditions and it would work again, if there was a serious inflation crisis.

 

[SeaMajor7]

No, it wasn't, it allowed the US economy to function in the two world wars, and it can do the same today, if we're in a serious recession or in hyperinflation. Our government has an obligation to make sure our economy doesn't collapse and you lose your pension, savings, business, job..etc.

Our current INFLATION was/is caused by GOVERNMENT OVERSPENDING!!!!!!
THAT is what has to be CONTROLED, wander banker-bot!!!!!
GFY

 

[TruthNotBS]

Our current INFLATION was/is caused by GOVERNMENT OVERSPENDING!!!!!!
THAT is what has to be CONTROLED, wander banker-bot!!!!!
GFY

The primary drivers of our inflation in the last four years have been supply chain disruptions, energy price spikes due to geopolitical tensions, and corporate profit-seeking behaviors, all of which have had a more substantial impact on prices than government spending.

 

[AntonToo]

But absolutely nothing to do with the $6+ trillion printed up out of thin air over the last 3 years!

The saddest thing is that this ignorant fucking post was felt good about by at least 12 other dupes.

As a net effect there is a NEGATIVE Fed blance change over last three years.


Your 6+ trillion number comes from 4 trillion Fed balance expansion in 2020 under Trump and additional 2 Trillion in 2021 under Biden, before feds started selling off and raising interest rates to deal with inflation.

 

[there4eyeM]

Situations change. In WWII, the economy was largely directed centrally. Prices of armaments were controlled, as was much else. Almost nothing is always wrong or correct in consensual government.
As for "free markets", that is a term like "benign dictatorship"; might be nice but never existed.

 

[Lesh]

WTF does that have to do with why inflation happens? Inflation is compounding. It dropping to 3% just means the money is devaluing at a slower rate it than it was last year doesn't mean what you apparently think it means. "Congratulations the rate of increase that you're being kicked in the testicles is coming down. What's that? No we wont be decreasing how often or hard we are doing it, just the rate at which we increase those things. Arent you happy? "

Do you think inflation is a new phenomenon?

Newsflash it has been around a long time.

In fact it’s built into “debt service” in a positive way regarding long term loans like Mortgages

 

[Couchpotato]

Do you think inflation is a new phenomenon?

Newsflash it has been around a long time.

In fact it’s built into “debt service” in a positive way regarding long term loans like Mortgages

Yeah since the Fed. LOL

 

[Couchpotato]

The FED is a charted bank under the authority of the US Congress. The only reason it prints the money is because it has permission, a charter, from the US federal government. So "there's that", you're one ignorant moron.

The Fed is an independent bank that’s purposely separate from the US Governent. The Fed Chair doesn’t answer to anyone in the US Government. But thanks for agreeing with me that the Fed and not the US Government issues the money.

 

[Couchpotato]

No, it wasn't, it allowed the US economy to function in the two world wars, and it can do the same today, if we're in a serious recession or in hyperinflation. Our government has an obligation to make sure our economy doesn't collapse and you lose your pension, savings, business, job..etc.

What happened with the crash in the early 1900’s?

 

[TruthNotBS]

The Fed is an independent bank that’s purposely separate from the US Governent. The Fed Chair doesn’t answer to anyone in the US Government. But thanks for agreeing with me that the Fed and not the US Government issues the money.

The US government grants the FED permission to issue USD. You can deny that, but that's the truth nonetheless. The FED operates as America's central bank and it has a charter from the US government to "create dollars".

 

[TruthNotBS]

What happened with the crash in the early 1900’s?

There was no FED back then, but what the hell does that have to do with anything? The point is that te government ultimately controls monetary policy. and the economy in general.

 

[Couchpotato]

There was no FED back then, but what the hell does that have to do with anything? The point is that te government ultimately controls monetary policy. and the economy in general.

The answer is the market corrected itself quickly and without the Government or the Fed getting involved. Your problem is you think Government is the answer but when in reality like Reagan said so many years ago it's typically the problem.

 

[TruthNotBS]

The answer is the market corrected itself quickly and without the Government or the Fed getting involved. Your problem is you think Government is the answer but when in reality like Reagan said so many years ago it's typically the problem.

Maybe in your highschool, when you were selling bubblegum or weed the market "corrected itself quickly", but at a national scale markets adjust in months, years, and even decades. In the meantime, tens of millions of people lose their jobs and become homeless, there's social unrest, as in riots, the pitchforks come out, and people start killing each other. Markets take time to adjust, and such disruptions don't allow a nation to grow and prosper, hence why our government is constantly bailing out capitalism every few years.

Reagan gutted our manufacturing base and stripped the working class of its power and wealth.

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I prefer a government that holds elections than one that doesn't. Your beloved privately owned business enterprises are run like totalitarian regimes, without elections. Big business shouldn't be in charge, but rather a government that holds elections, and is accountable to the people.

 

[Couchpotato]

There was no FED back then, but what the hell does that have to do with anything? The point is that te government ultimately controls monetary policy. and the economy in general.

Maybe in your highschool, when you were selling bubblegum or weed the market "corrected itself quickly", but at a national scale markets adjust in months, years, and even decades. In the meantime, tens of millions of people lose their jobs and become homeless, there's social unrest, as in riots, the pitchforks come out, and people start killing each other. Markets take time to adjust, and such disruptions don't allow a nation to grow and prosper, hence why our government is constantly bailing out capitalism every few years.

Reagan gutted our manufacturing base and stripped the working class of its power and wealth.

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I prefer a government that holds elections than one that doesn't. Your beloved privately owned business enterprises are run like totalitarian regimes, without elections. Big business shouldn't be in charge, but rather a government that holds elections, and is accountable to the people.

You’re such a buffoon. Go read an economic history book. This has nothing to do with “trickle down” economics dum ass

 

[TruthNotBS]

You’re such a buffoon. Go read an economic history book. This has nothing to do with “trickle down” economics dum ass

It certainly does have everything to do with the disastrous consequences of Reaganomics i.e. trickle-down economics. Your beloved supply-side, trickle down, Reganomics, amounts to the working class being gutted by the wealthy capitalist class, which you worship as a brainwashed, working-class moron. You're fighting against your own personal, class interests, as a working-class person, when you defend laissez-faire, trickle-down, bullshit economics. You're a pathetic bootlicker.

 

[cutter]

Half of recent US inflation due to high corporate profits, report finds​

The corporations have been quick to pass on any increases in cost, but not inclined to pass on the savings when costs went back down.

So not really inflation anymore, but greedflation.

This, my republican friends, is why capitalism requires regulation and oversight.

The fact that everything is affected by the price of oil. It is delivered by, or is made of from oil. Raise the price of oil then quit pumping our own and buy from countries that hate us will cause prices to go up. 4yrs ago we were oil independent and were exporting oil. What a difference 4yrs make

Half of recent US inflation due to high corporate profits, report finds​

The corporations have been quick to pass on any increases in cost, but not inclined to pass on the savings when costs went back down.

So not really inflation anymore, but greedflation.

This, my republican friends, is why capitalism requires regulation and oversight.

 

[Crepitus]

The fact that everything is affected by the price of oil. It is delivered by, or is made of from oil. Raise the price of oil then quit pumping our own and buy from countries that hate us will cause prices to go up. 4yrs ago we were oil independent and were exporting oil. What a difference 4yrs make

Pumping more oil than ever before in history.

Your lies aren't holding up real well.

 

[Couchpotato]

Pumping more oil than ever before in history.

Your lies aren't holding up real well.

We are also using more. The delta in the amount we are using vs how much we peoduce is important part.

 

[Crepitus]

We are also using more. The delta in the amount we are using vs how much we peoduce is important part.

Nope.

U.S. oil consumption 2023 | Statista

In 2023, the United States consumed nearly 19 million barrels of oil daily.

www.statista.com