Manchin being critical of policy without offering an alternative? That sums up his entire career in the Senate. And thats true of his dispostion towards both parties. He's the most useless member of that body.
He spent 8 years fighting Obama over passing the ACA....and then spent 4 years fighting the Republicans who wanted to get rid of it.
He doesnt stand for anything except supporting the coal industry.
Manchin being critical of policy without offering an alternative? That sums up his entire career in the Senate. And thats true of his dispostion towards both parties. He's the most useless member of that body.
He spent 8 years fighting Obama over passing the ACA....and then spent 4 years fighting the Republicans who wanted to get rid of it.
He doesnt stand for anything except supporting the coal industry.
Charles is willing to twist himself into logical knots to try to blame Biden for inflation. Nothing original there.
The current inflation is being caused by a surge in demand for goods (and to a lesser extent, services) without a concurrent expansion in supply. Charles prattles about "Economics 101" and in the same breath, blames inflation on money policy. Had he actually enrolled in and passed a university-level Econ 101 course, he would know that free market prices are driven primarily by supply and demand. How do I know this? I actually took Economics 101--as well as eleven other college Econ courses. But you don't have to be very sophisticated to figure out that there's higher demand for just about everything than there has been in the last two years, but supply hasn't expanded to meet that demand. I mean, fucking DUHHHHHH.
To those morons who think Biden is responsible for inflation--please tell us exactly how Biden affects the prices of goods. Are gasoline prices high because Biden issued an executive decree forcing the oil companies to raise their prices? Or did they...did they...did they...just maybe...make that decision on their own, just like every single producer and seller of every single good and service in our glorious capitalist system?
Fucking idiot conservitards.
Oh, and just to address Charles' silly bleat about oil supplies:
1. We get between 1 and 3 percent of our oil from Russia.
2. Russian oil supplies haven't been cut off, and if they are, the shortfall will be minimal.
3. Pipelines do not increase the available supply of oil. They are a way to transport existing supplies. DUHHHH. It's not as if Canadian oil currently has to be transported to the US by carrier pigeon.
4. Over 4,000 already permitted domestic wells and drilling sites are sitting idle. Any so-called "shortage" is being manufactured by the fossil fuel companies in order to keep prices nice and high.
Of course, all this should be obvious to anyone with a functioning brain. We all know that the fossil fuel companies will ass-fuck us in any way and at any chance they get. What amazes me is how they've managed to draft and co-opt so many eager cheerleaders--who aren't even paid! Yay for the noble fossil fuel industry! Chevron isn't charging us $5.50 a gallon, Joe Biden is!
Conservitards are so very, very gullible--and really fucking stupid.
Hey...I'm just the messeger. Smart people like your own Larry Summers (and I) have been predicting this inflation since February of 2021. We know what causes it. If you really took economics at a college level, you'd know too. And you'd know the solution wasn't the stupid 5 trillion dollar Build Back Boondoggle. If that had passed, it would have accellerated inflation and increased our pain. That's just common sense. Thank God for Joe....the good Joe...Manchin.
Don't take it form me, take it from Obama's secretary of the Treasury.
"We had an economy where income was running short by $50 billion a month because of the pandemic, and we injected $150 billion to $200 billion a month into that economy. It’s perhaps not surprising that that’s led to an overflow of demand, which has generated inflation that on the CPI [Consumer Price Index] measure has risen to 7 percent."
Larry Summers on inflation, the Fed, the year ahead – Harvard Gazette
But if it makes you feel good keep blaming everything but the Federal Reserve and the Biden Administration. Or tell us 'It's transitory and will be fixed by last December' or tells us it's a good thing....That won't change the facts. Unfotunately I don't waste my life here like some ofyou. I actually work. So I won't be able to continue to respond to your insults. But that's all you've got. Maybe we'll talk again after the Fed has raised rates another 5 times.....but answer me this....If the Fed and the money supply aren't the cause of our inflation then why is the Fed raising interest rates and trying to reduce their balance sheet? Are you saying it's a mistake?
Man does Charles make you look like an idiot Kevin. You are lucky he doesn't post here as much as you do.
Originally posted by: Jerry Ice 33
Man does Charles make you look like an idiot Kevin. You are lucky he doesn't post here as much as you do.
Of course you shake your pom-poms whenever someone says something you're predisposed to agree with.
Originally posted by: Kevin Lewis
Of course you shake your pom-poms whenever someone says something you're predisposed to agree with.
Kevin never admits when he is wrong - all he has is a flippant, inane remark. Same pattern, over and over again.
From CNBC
https://www.cnbc.com/2022/02/04/how-the-biden-administration-misread-the-inflation-threat.html
From what happens when the money supply increases to fast (31% in 2021)
https://www.investopedia.com/ask/answers/042015/how-does-money-supply-affect-inflation.asp
https://reason.com/video/2021/12/30/how-bidens-agenda-is-causing-inflation/
From the AP
But the problem is that Biden pumped more money into the economy than it could handle. Administration officials said before the relief package was passed that the greater risk was do too little to help the economy than to do too much. The implicit risk was inflation, though the tradeoff was faster hiring and stronger growth. Biden got all three: the hiring, the growth and the inflation.
https://www.washingtonexaminer.com/opinion/inflation-exposes-the-arrogance-of-the-biden-democrats
Originally posted by: Charles
Hey...I'm just the messeger. Smart people like your own Larry Summers (and I) have been predicting this inflation since February of 2021. We know what causes it. If you really took economics at a college level, you'd know too. And you'd know the solution wasn't the stupid 5 trillion dollar Build Back Boondoggle. If that had passed, it would have accellerated inflation and increased our pain. That's just common sense. Thank God for Joe....the good Joe...Manchin.
Don't take it form me, take it from Obama's secretary of the Treasury.
"We had an economy where income was running short by $50 billion a month because of the pandemic, and we injected $150 billion to $200 billion a month into that economy. It’s perhaps not surprising that that’s led to an overflow of demand, which has generated inflation that on the CPI [Consumer Price Index] measure has risen to 7 percent."
Larry Summers on inflation, the Fed, the year ahead – Harvard Gazette
But if it makes you feel good keep blaming everything but the Federal Reserve and the Biden Administration. Or tell us 'It's transitory and will be fixed by last December' or tells us it's a good thing....That won't change the facts. Unfotunately I don't waste my life here like some ofyou. I actually work. So I won't be able to continue to respond to your insults. But that's all you've got. Maybe we'll talk again after the Fed has raised rates another 5 times.....but answer me this....If the Fed and the money supply aren't the cause of our inflation then why is the Fed raising interest rates and trying to reduce their balance sheet? Are you saying it's a mistake?
Do you really want your stupid question answered? I doubt it, but I'll do so anyway.
The Fed is trying to mitigate inflation. Saying that because the Fed is doing that, it must be the cause of inflation is like saying someone trying to put out a fire must have set it.
Raising interest rates will help; it has in the past, in similar situations. That's why the Fed is doing that. Does it address the root cause? No. That root cause is an increase in demand without a concurrent increase in supply. The two have to happen simultaneously to create inflation.
You see, unlike you, I actually read the entirety of the article you referenced. You decided to take Summer's remark out of context. He explained that the pandemic stimulus money (that horrible horrible horrible liberal soooooocialist money giveaway) had been intended to increase supply--by bringing businesses back up to speed. But the multiple Covid surges killed that off--even though the money was indeed injected into the economy. The plan was for BOTH demand and supply to increase.
So if you want to blame the current inflation on monetary policy (which would be a shortsighted and grossly incomplete point of view, but let's go with it), it would be the failure of policymakers to anticipate that the pandemic would continue LONG beyond the availability of vaccines, and that variants would continue to crop up and spread. So there wasn't enough increased production to absorb the demand generated by the stimulus. And that policy spanned the Trump AND Biden administrations.
Furthermore, who would have thought that when lifesaving vaccines became available, half of the US population would be too stupid to take them? Who would have thought that so many evil, selfish political pundits would try to make a name for themselves by promoting anti-vax conspiracy theories, or that so many people would listen to them?
But in any event, the economy opening back up is the cause of increased demand, and lingering supply problems are the cause of supply not meeting that demand. The result of the two phenomena is inflation. That's pretty "Econ 101" basic.
