Inflation and what to do?

[243fan]

Hopefully we stop the bleeding this coming Tuesday ! Call a friend and a family member to get out to VOTE.

 

[Ernest T]

Economists attribute the US inflation surge to product shortages resulting from the global supply-chain problems, largely caused by the COVID-19 pandemic. This coincided with strong consumer demand, driven by low unemployment and improved financial conditions following the pandemic.

Government policy has had very little to do with today's inflation and it's unlikely that inflation is going to go away after the midterms.

 

[Scott-ak]

Economists attribute the US inflation surge to product shortages resulting from the global supply-chain problems, largely caused by the COVID-19 pandemic. This coincided with strong consumer demand, driven by low unemployment and improved financial conditions following the pandemic.

Government policy has had very little to do with today's inflation and it's unlikely that inflation is going to go away after the midterms.

and economists ignore the billions of dollars minted from thin air and handed out like candy at halloween.

 

[Ernest T]

and economists ignore the billions of dollars minted from thin air and handed out like candy at halloween.

The budget deficit has actually gone down during this administration. The last administration had an historically high budget deficit due to the 2018 tax cuts. See, it doesn't matter if you get the money into the economy by government spending or by cutting taxes. Either way, there is more money in the economy which leads to inflation. But don't let facts get in the way of a good story.

U.S. Presidents With the Largest Budget Deficits

Here is a look at which presidents ran the largest federal budget deficits in U.S. history and why, from World War I through President Biden's administration.

www.investopedia.com

KEY TAKEAWAYS​

• Donald Trump is one of three presidents with the biggest budget deficits in history.
• The deficit topped $1 trillion in 2020.
• By 2022, under Joe Biden's administration, the deficit has declined to some $900 billion.
• The U.S. government has run a budget deficit for nearly all of the past 60 years.
• A president's influence over a budget deficit doesn't start until after the fiscal year ends (September 20) during their first year in office.

 

[mikeinct]

I'll be a good boy. X's 100. See my newer Food leftover greatness thread to save mony. I will not challenge "Kensian's" to Econ 101 debates. Mike in Ct. Ps.it will help u all save money & eat well.

 

[drop_point]

The budget deficit has actually gone down during this administration. The last administration had an historically high budget deficit due to the 2018 tax cuts. See, it doesn't matter if you get the money into the economy by government spending or by cutting taxes. Either way, there is more money in the economy which leads to inflation. But don't let facts get in the way of a good story.

U.S. Presidents With the Largest Budget Deficits

Here is a look at which presidents ran the largest federal budget deficits in U.S. history and why, from World War I through President Biden's administration.

www.investopedia.com

KEY TAKEAWAYS​

• Donald Trump is one of three presidents with the biggest budget deficits in history.
• The deficit topped $1 trillion in 2020.
• By 2022, under Joe Biden's administration, the deficit has declined to some $900 billion.
• The U.S. government has run a budget deficit for nearly all of the past 60 years.
• A president's influence over a budget deficit doesn't start until after the fiscal year ends (September 20) during their first year in office.

Cough cough COVID spending.

Who has the power of the purse strings?

 

[drop_point]

Economists attribute the US inflation surge to product shortages resulting from the global supply-chain problems, largely caused by the COVID-19 pandemic. This coincided with strong consumer demand, driven by low unemployment and improved financial conditions following the pandemic.

Government policy has had very little to do with today's inflation and it's unlikely that inflation is going to go away after the midterms.

Hmmm the injection into the economy of COVID relief funds didn't contribute? People being paid MORE not to work than to work? Energy resources being shut down? Let us not forget the actions of the Federal Reserve...twenty TRILLION in institutional bailouts in 2012 many of which were sent abroad; a trend that hasn't ceased to this day, but the ten to twelve year FOIA requests mandated on Federal Reserve actions kind of makes it impossible to determine when this happens and to what extent. Let us not forget the plunge protection spending and profit taking during the rollercoaster that is the last few years in financial markets.

I personally know a farmer that got $1.2 million in COVID relief loan forgiveness. Do you think he's employees went without work?

Curious, what exactly you do professionally that would lead you to be so gullible and repeat talking points.

 

[drop_point]

I'm not sure I want to use a English major with no real-world experience as my SME. Mind you, here is the genius that is being used as a source:

• LinkedIn

Mary Hall​

CURRENTLY​

Editor

EDUCATION​

Kent State University

Summary​

• Two years experience as an editor for Investopedia's Advisor Insights, including editing for content, fact-checking, and improving the overall readability of advisor-submitted articles.
• Editor of several books and doctoral papers, including three fiction books, one non-fiction book, and one memoir.

Experience​

Mary Hall graduated from college with her English degree, but without a clear path to using it. She spent some time as a legal assistant, then several more years as a litigation paralegal with an intellectual property firm in Chicago.
Her position as a project manager in the educational testing division of Houghton Mifflin Harcourt solidified her desire to write or edit as a career. With the birth of her daughter, Mary left her full-time job but continued to work as a freelance editor for HMH and began blogging for a few law firms.
After a three-and-a-half-year stint as a content creator and marketer with a logistics company, during which she won the Cincinnati American Marketing Association’s Marketing Department of One Award, she returned to freelancing. Since then, she has handled blogging and social media for a financial advisory firm, written content for various small businesses, edited several books for independent authors and doctoral papers for PhD students, became the senior content strategist for UniMedia—an inbound marketing firm—and continues to edit hundreds of articles for Investopedia each year.

Education​

Mary received her bachelor's in English from Kent State University with a business minor and writing concentration.

Quote from Mary Hall​

"Not being a numbers person myself, I truly enjoy editing articles to make them accessible to readers who most likely did not major in finance, but are interested in educating themselves about financial planning and investing in their futures."

 

[6MMsteve]

can't seem to find a video on the space station being built, guess it's floating around somewhere on a cable

 

[dunraven]

Get rid of each and every dimocrat.

 

[dunraven]

Golf game is improving!

 

[Ernest T]

Hmmm the injection into the economy of COVID relief funds didn't contribute? People being paid MORE not to work than to work? Energy resources being shut down? Let us not forget the actions of the Federal Reserve...twenty TRILLION in institutional bailouts in 2012 many of which were sent abroad; a trend that hasn't ceased to this day, but the ten to twelve year FOIA requests mandated on Federal Reserve actions kind of makes it impossible to determine when this happens and to what extent. Let us not forget the plunge protection spending and profit taking during the rollercoaster that is the last few years in financial markets.

I personally know a farmer that got $1.2 million in COVID relief loan forgiveness. Do you think he's employees went without work?

Curious, what exactly you do professionally that would lead you to be so gullible and repeat talking points.

You're absolutely right, there were two rounds of Covid relief checks under Trump and he was actually pushing for a $2000 check at one point just before the 2020 election.

 

[Ernest T]

I'm all for placing blame where it belongs, but there is no way that every single problem with the US is caused by a democrat while everything that's right is attributable to a republican. If that's what you believe, you're letting your emotions override your logic and there's no reason to have any further discussion.

 

[Dgd6mm]

Inflation, what to do? Vote Republican November 8th for starters!

 

[Forum Boss]

We are NOT giving any financial advice. However Capital One is now offering a 1-year CD at 4.00% APY.

That's not keeping up with inflation, but it's much better than getting 0.5% in your bank savings account.

Capital One CD Rates

For comparison, Wells Fargo 13-mo CD is now paying 2.75% APY.

NOTE: A CD is different than a bond fund, and you may sacrifice interest if you have to access before the one-year term.

I want to stress to ALL who read this -- with a CD, your money may be LOCKED UP for a full year (or more for longer-term CDs). Don't do ANYthing until you absolutely understand the limitations on withdrawal.

 

[M-61]

The budget deficit has actually gone down during this administration. The last administration had an historically high budget deficit due to the 2018 tax cuts. See, it doesn't matter if you get the money into the economy by government spending or by cutting taxes. Either way, there is more money in the economy which leads to inflation. But don't let facts get in the way of a good story.

U.S. Presidents With the Largest Budget Deficits

Here is a look at which presidents ran the largest federal budget deficits in U.S. history and why, from World War I through President Biden's administration.

www.investopedia.com

KEY TAKEAWAYS​

• Donald Trump is one of three presidents with the biggest budget deficits in history.
• The deficit topped $1 trillion in 2020.
• By 2022, under Joe Biden's administration, the deficit has declined to some $900 billion.
• The U.S. government has run a budget deficit for nearly all of the past 60 years.
• A president's influence over a budget deficit doesn't start until after the fiscal year ends (September 20) during their first year in office.

Here’s what I know for a friggin fact:
I just paid $5.71 for home heating oil. So I don’t give a shit that Biden’s deficit declined. My expenses climb damn near daily.

 

[358WCF]

Get rid of each and every dimocrat.

... & 1/2 of the damned uniparty, go along to get along while lining their own pockets, Republicans too. Actions talk, BS walks. Campaign promises are often so much BS. One & done if they dont perform up to your expectations.

 

[ronsatspokane]

The budget deficit has actually gone down during this administration. The last administration had an historically high budget deficit due to the 2018 tax cuts. See, it doesn't matter if you get the money into the economy by government spending or by cutting taxes. Either way, there is more money in the economy which leads to inflation. But don't let facts get in the way of a good story.

U.S. Presidents With the Largest Budget Deficits

Here is a look at which presidents ran the largest federal budget deficits in U.S. history and why, from World War I through President Biden's administration.

www.investopedia.com

KEY TAKEAWAYS​

• Donald Trump is one of three presidents with the biggest budget deficits in history.
• The deficit topped $1 trillion in 2020.
• By 2022, under Joe Biden's administration, the deficit has declined to some $900 billion.
• The U.S. government has run a budget deficit for nearly all of the past 60 years.
• A president's influence over a budget deficit doesn't start until after the fiscal year ends (September 20) during their first year in office.

So those articles on who had the largest budget deficit are misleading. The bottom line is how much did each president add to the national debt. Only Harding and Coolidge reduced the national debt in modern times. Democrats have at times reduced deficit spending via higher taxes but in the end they all added to the debt. The republicans, just just added to the debt. This is the real story:

What’s the national debt by president?

Key points The national debt, the amount the federal government owes, has surpassed $35 trillion. All but two presidents since 1900 have contributed to the national debt. Too much debt compared to a country’s GDP can negatively impact economic growth. The federal government has countle

www.sounddollar.com

 

[areaone]

The Great Experiment……reinstate Keystone, lower or eliminate certain EPA regulations, open up leases on Federal land and reduce ALL restrictions on drilling and fracking and let’s watch what happens to oil prices and the affect it has on the inflation…coincidental all this inflation began on Inauguration Day. Occum’s Razor.

 

[Ernest T]

The Great Experiment……reinstate Keystone, lower or eliminate certain EPA regulations, open up leases on Federal land and reduce ALL restrictions on drilling and fracking and let’s watch what happens to oil prices and the affect it has on the inflation…coincidental all this inflation began on Inauguration Day. Occum’s Razor.

Began on inauguration day? Blame Trump. Since the fiscal year ends on September 30, the country operated on his final budget from inauguration day until October 1, 2021.