Politics Thread

[Xville]

What was it that was within Trump’s or Biden’s countrol that they either did, or should have done but didn’t, that caused the price of goods to increase like they have??

You’ll have to explain it to me like I’m a first grader because I don’t understand how this all works. But if you can explain how they are responsible, it very well could influence how I vote.

Thank you.

They were both very influential in passing legislation like the Cares act (among other Covid related bills) that added about 5 trillion to the deficit. Where did that money come from? Printing it! So now there’s more money in our system (devaluing the dollar) and people were given money they didn’t need as well as some businesses that didn’t need it. This caused many people to not even work since they were getting free money anyway, which caused an already tight labor market to get even tighter, which put a bigger strain on the supply chain.

People were now at home, with all this money, but no where to really go because as you remember things were even closed or severely limited, so they bought a bunch of stuff or renovated their house further straining the supply chain.

I’m rambling but if you think about it in basic economic terms.. low supply, high demand—-prices go up… and it can all be traced to legislation that was passed stupidly.

[Strange Brew]

They were both very influential in passing legislation like the Cares act (among other Covid related bills) that added about 5 trillion to the deficit. Where did that money come from? Printing it! So now there’s more money in our system (devaluing the dollar) and people were given money they didn’t need as well as some businesses that didn’t need it. This caused many people to not even work since they were getting free money anyway, which caused an already tight labor market to get even tighter, which put a bigger strain on the supply chain.

People were now at home, with all this money, but no where to really go because as you remember things were even closed or severely limited, so they bought a bunch of stuff or renovated their house further straining the supply chain.

I’m rambling but if you think about it in basic economic terms.. low supply, high demand—-prices go up… and it can all be traced to legislation that was passed stupidly.

You got deficit spending right. Add on the infrastructure bills and the budget (continuing resolutions) since the Obama years (And maybe Bush. I’d have to check) have caused the Fed (not part of the Gov’t by the way) to print or create trillions of new dollars. More dollars equals less purchasing power in your pocket.

The dollar you have right now buys 30-40% less value than 5 years ago because of this. There is no other driver of inflation. Prices in the private sector are driven by supply/demand. Price fixing within the same/similar industry is illegal.

The Federal Gov’t through the Federal Reserve is the only entity that can create money/value from nothing. It has been the case since the Wilson Admin and was made worse when we went off the gold standard under Nixon.


Also GDP formula: GDP=C+I+G+NX. The G has exploded which is mainly why we haven’t seen a recession in normal terms. However, we have been in a private sector recession since Q422/Q123. That said, G driven growth through deficit spending leads to high interest rates which adversely affects the other variables. We could also talk about the Petro-dollar and BRICS+ however this post is depressing enough as it is. :)

Edit: For the record Trump threatened to veto Dem spending bills which would’ve shut down the Gov’t which really isn’t a big deal at all. The media and some on this board went nuts however.

[X-band '01]

Have the trump family be in charge of the RNC what could go wrong? ...Trump fam, your fascism is showing:

https://www.yahoo.com/news/rnc-co-ch...183720954.html

Lara Trump would be committing political malpractice if the RNC decided not to donate to the Hogan campaign, although I'm pretty sure it's just talk and trying to intimidate him to fall in line. Why would you not put money in a very winnable race? Democrats never envisioned Maryland as a competitive race, and it's expensive to campaign in Baltimore/DC suburbs. Dollars spent in Maryland cannot be spent in places like Ohio, Nevada and Montana where they have to defend Senate seats this cycle. (Opportunity cost for all of you Economics students)

[Strange Brew]

I probably know less about national and global economics and the things that impact it than I do about the mating habits of starfish.

The mating habits of starfish would be way more fun to study/read about. ;)

[Strange Brew]

“Science” had a rough day on Cap Hill…:)

Come on Lou. If there ever was a time for a bat flipping walk-off, it’s now. :)

[bobbiemcgee]

Diidn:t Fauci deny everything?

[Strange Brew]

Diidn:t Fauci deny everything?

But he’s “Science”….. haha.

[bobbiemcgee]

Does anyone besides you care anymore ?

[Strange Brew]

Does anyone besides you care anymore ?

I hope so Bobbie.

I sincerely hope so as a (Catholic) Christian and a man. No matter what, I hope I’ve left things better off than I found it. :)

[murray87]

I care deeply about getting to the bottom of all the lies told by Fauci and his minions. Millions/billions of lives needlessly turned upside down, phony guidance for how to live and work dictated in the name of "science" and then coercing millions/billions into taking a shot of unknown safety and effectiveness. Denying responsibility and hiding behind "to the best of my knowledge" isn't going to fly.