We are getting different messages when it comes to inflation. One side blames government spending, while the other says it is the Fed’s job to control inflation.
Then you have the head of the Federal Reserve, I want to know how much raising interest rates curb inflation.?
The Fed chair pledges to bring inflation under control and signals wariness on wages.
Jerome H. Powell, the head of the Federal Reserve, told lawmakers the Fed was prepared to prevent a rerun of 1970s inflation.
Jerome H. Powell, the Federal Reserve chair, told senators on Thursday that policymakers were prepared to rein in inflation as they tried to fulfill their price stability goal — even if that came at an economic cost.
“We’re going to use our tools, and we’re going to get this done,” Mr. Powell told the Senate Banking Committee.
That would be nice but how much less, and where should we start, I keep hearing people say this but don’t say where should this less Government take place in our society
Dennis - that’s was the way it used to be - post covid is not so.
Current wholesale energy prices - Nat Gas, WTI - all the same - lower than pre- war - yet retail price remains exaggerated.
I have encountered many business ppl - even this very day - who happily state that they have increased their prices because “everyone else is doing the same.”
This is the 5 letter word at work and yes I’m a capitalist but it is the ugly side of capitalism.
What have i done?
Yep - I too have succumbed and increased retail prices - but with a caveat - I increased half the wholesale rises for 2023 because I know that competition will kick in and that’s the better side of capitalism .
My thinking is not unlike others - that’s why inflation will come down.
Another Conspiracy Theorist who believes tried and tested economic principles can no longer be applied… Like the definition of a Recession or the cause of Inflation… etc… etc… etc…
It’s a bit like the shitshow of she can now be a he… And he can now be them… All part of the recent make it up as you go ideology that is permeating the globe…
There is hundreds of articles pointing out that a sharp increase in Currency Circulation will always have inflationary results, from more intelligent minds that will be found in these threads…
On both sides of the media divide…
Sure, many need financial help through the idiocy that was only brought about by the COVID over reaction.
So, if you didn’t need the help… Why didn’t you give your cheques back???
FYI… I didn’t apply for any stimulus or grants during the Pandemic… I didn’t need it!!!
After yelling and complaining about inflation, immigration, and crime for the past two years, it is time for the GOP to solve those problems like they promise.
GOP unveils ‘Commitment to America’ plan to halt Biden, inflation and crime
House Republicans pledged Friday to end soaring inflation and reduce crime by serving as a check on President Biden if they reclaim power — calling the party’s midterm election platform a “Commitment to America.“
“We’ve watched what’s happened to our border — the millions of people who are just walking across, people on the terrorist watch list. Now we’re watching it create every community to be a border community,” McCarthy said.
GOP Legislative Agenda Hits Snags Amid Party Divisions
Hard-right lawmakers have effectively blocked legislation that would require law enforcement officials running background checks on firearm purchasers to report if a prospective buyer is in the United States illegally.
And House Republicans’ marquee bill to crack down on immigration at the border with Mexico has been derailed by a faction within the party, including some more mainstream GOP members, who regard it as overly restrictive, fearing it would effectively end asylum in the United States.
Good Sunday afternoon everyone, it is great to see so many participating, good debates, and friendly disagreements are good for the sole.
Amen brother, Amen
I say it all the time, for starters how about a 5-year budget freeze
Here in the US, we see this in college tuition, there seems to be some kind of prestige in being able to claim to have the nation’s highest tuition, and with government-backed student loans, there is no incentive to not rise tuition
The cause of 1970’s inflation was the US going off the gold standard, back then the Fed raised rates to 20%, This time around it is the covid response , with rates currently at 4.58% we have a long way to go
Here in the US, the stimulus checks ( the ones they gave to everyone) actually only accounted for about 10% of the relief bill, what I saw as the most harmful and inflationary was the enhanced unemployment benefit of $600 a week, this was paid on top of the state benefit, a large portion of the American work force were now being paid more to stay home then when they were working, then when businesses started to reopen, no body wanted to go back to work.
Exactly the same happened here in Australia. The Government handed out money like Confetti during the pandemic… Many employees were better off to stay at home and receive Government assistance than actually continue working during some of the longest and most destructive lockdowns in the world…
And this is still resonating through the economy today… Hospitality, Warehousing, Transport and Medical are the hardest hit sectors still with a huge shortages in workers.
Hundreds of millions of dollars was handed out to businesses to keep the lights on while nobody was working… Australia had the rise of Zombie Companies…
Business that were on the brink of closure or already closed that were only kept above water by pandemic handouts and had no intention of reopening once the stimulus ended.
One of the issues that the Australian Media and Government authorities are petrified of becoming public is the sheer number of workers furloughed or sacked due to the vaccine mandates. Thousands of critical Hospital, Aged Care and Police staff moved on to different employment after being mandated out and will never return.
do you really want an answer or are you just trolling?
I will take the high ground and in good faith answer your question
Every time there is a budget impasse between congress and the president, we have a government shutdown, and they will furlough non-essential workers until a new budget is passed, I say, what the hell is our government doing with non-essential workers on the payroll? Those jobs should be eliminated.
And I am not talking about pink slipping millions of government workers, but simply having a hiring freeze, as these workers quit or retire, they are not replaced. The result is a shrinking government.
Life as a troll must be very lonely, as you sit staring at your computer( 24 hr a day) waiting for someone to post on this thread. So sad, there is so much more in life.
No more feeding the troll today, I don’t want it to get fat
