Inflation? And then what?

[Aloha_Shooter]

I keep bringing this up whenever people talk about "The Great Recession" as a way to dump on George W. Bush. Even my mother used to repeat this garbage until I reminded her just how bad the economy was during the Carter malaise. I would contend the real economy -- people working and spending and dealing with one another as opposed to Wall Street and the financial sector -- was better even during the Carter malaise than during the pandemic shutdowns AND it wasn't Trump's fault. Forget the stock market and see what people are doing to get by, how much disposable income do they really have (and I'm not talking about people putting everything on a credit card that will eventually come due).

I thought the Carter administration did everything wrong and no one in the US could do worse -- until I saw what Obama did to the economy. The strategy from every Democratic president from Johnson to Carter to Clinton to Obama and now to Biden has been to devalue the dollar so they could pay back loans taken out yesterday with paper worth less than the loan was when issued. It's the only way they can keep printing money like this and it DOES cause inflation.

[Bailey Guns]

It appears to me that a huge part of the problem is so few people who want to work now. Even in Altus, OK I see signs in just about every business for entry level labor at $11 to $15 hour. $15 an hour is pretty decent pay in this area...a person can actually live on that here. There are several places in town that have signs on the door (mostly restaurants) that say they're closed due to lack of help.

[hurley842002]

It appears to me that a huge part of the problem is so few people who want to work now. Even in Altus, OK I see signs in just about every business for entry level labor at $11 to $15 hour. $15 an hour is pretty decent pay in this area...a person can actually live on that here. There are several places in town that have signs on the door (mostly restaurants) that say they're closed due to lack of help.

Then you have those of us who have worked since childhood, looking at loss of job due to a damn vaccine mandate, strange times indeed!


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[Martinjmpr]

Saw this on a CNBC link on FB:

"Inflation has taken away all the wage gains for workers and then some"

I'm imagining the late R. Lee Ermey in his role as GySgt Hartman saying "Well, No Shit, Sherlock!"

[theGinsue]

That got a chuckle out of me.

What scares me is how bad they've make things in just over 10.5 months and they still have 3+ more years to bring us down even deeper.

[StagLefty]

That got a chuckle out of me.

What scares me is how bad they've make things in just over 10.5 months and they still have 3+ more years to bring us down even deeper.

That is indeed the fear I have !!!!!

[TRnCO]

I guess I have high hopes that the mid-term elections will knock the Dems. out of full control and bringing a halt to any more large spending bills, and making Biden a dead duck from there on out. Fingers crossed but honestly, with how bad things are, I really expect it to happen.

[clodhopper]

Knock the dems out to stop the excessive spending and put the repubs back in for just regular high spending.... right? Two sides of the same coin.

[ray1970]

Knock the dems out to stop the excessive spending and put the repubs back in for just regular high spending.... right? Two sides of the same coin.

Pretty much. Excessive spending by government isn?t limited to any particular party. Maybe the manner in which the parties choose to squander their spending are different but the words government and efficiency go together like oil and water.

[ray1970]

I do get a chuckle when I gas up at the station closest to my house. Someone put stickers of Biden on most of the pumps with him pointing towards the prices and the phrase ?I did that? below.