Inflation

I didn't blame anyone for anything. YOU blamed Biden for the Fed, and I simply pointed out that Biden did not appoint the Fed Chairman and that another president did. 

Charles and his kind use their massive knowledge of economics to blame Biden for what is, a repeat, a GLOBAL phenomenon. It's so hilarious to see an ignorant putz like Charles try to explain a subject that's WAYYYY over his head and far too complex for him to understand!

Let me clarify that for our resident conservitard idiots. Of COURSE the DEGREE of inflation will vary from one country to another, or even within a given country. But the CAUSES of inflation--now, and in the past--are GLOBAL. Our economy does NOT exist in isolation.

DUHHHH, conservitards!

Of course, if your sole purpose is to attack Biden and blame him for anything and everything you don't like, please ignore the above. Be sure to blame the next tsunami on him, too.

BTW, Charles--just to point out one particular idiocy in your litany of idiocies--if "currency devaluation of individual countries" is to blame for inflation (which it isn't, not even slightly, but let's roll with it), how is that Biden's fault?

Also, to address your three main points. 1) Federal monetary policy influences THE UNITED STATES economy. Not that of the rest of the world! And since the current inflation has happened well in advance of any significant Fed moves to control it, I think you need a lesson in what cause and effect is. You're saying that things that MAY be done in the future are affecting the present? Wow. Conservitard delusional. 2) There is no "war on fossil fuel." That's an idiotic conservitard dog-whistle meme used to stir up voters in fossil fuel-producing states. 3) Federal spending is actually under tight control, as it always has been, which is certainly shown by the long and tortured process the present spending bills have undergone--and the fact that most of them haven't been approved.

God, you conservitards are willing to distort reality in order to conform to your asshole political agendas! But we know that with the RepubliQ and all you insurrectionists, what you WISH was true "Trumps" what actually IS true.

Don't forget, according to the residents of our conservitard pigpen, everything bad is Biden's fault, while he shouldn't be given credit for anything good that happens.

     Here is a partial list of the well deserved "credit" that Biden had done in just 10 months- (1) - the Afghan fiasco. (2)- Rampant inflation, at the gas pumps and stores, (3)- Border crisis, (4)- massive increasing of the national debt. There, happy now kevin that your fraudlent president has received his well deserved credit?

Ha!  Kind of weasel wording it.  First Kevin blames 'Global'.  Then you blame Corporate Profits.  Now you blame Trump for the actions of the Fed under Joe Biden.  You just can't make this shit up.  

Fact of the matter is the President of the United States can change the Fed president or any Fed Governor for cause.  Under Trump the average inflation rate was 1.9% per year. which is just under the Fed inflation target of 2%.  He had no cause to make a change.  In less than a year inflation is over 6 percent.  The buck really stops with Joe, no?  It's just that it's only worth 94 cents now and it only buys half the heating oil it used to or 2/3 the gasoline. 

Since the major objective of the Federal Reserve is price stability and they're clearly failing at that just maybe Joe should do something about it.  Instead, he's doing exactly the wrong thing by pimping the mult-trillion dollar 'Build Back Better Boondoggle'.  At the same time you and your ilk are claiming we're already at full employment.  Democrats claim BBB will create 'millions of jobs' when 10 million job vacancies already exist.  Who is going to work those new jobs?  How is pumping this money into the economy with no one to fill those jobs not inflationary?  We are just lucky Joe Manchin is one of the few sane Democrats who understands economics and can see what a disaster such spending will create.

Charles, dear, MP didn't "blame" the chairman of the Fed for anything. That was YOUR shtick, and YOUR bullshit. All MP did was point out that if you want to blame Biden for the actions of the chairman of the Fed, then that's stupid, because Trump, not Biden, appointed him. Of course, the actions of the chairman of the Fed have had and will have very little influence on domestic inflation, because 1) the economy is GLOBAL (need I say that again, conservitards?) and 2) pricing decisions are made by PRIVATE ENTITIES THAT ARE NOT UNDER GOVERNMENT CONTROL.

DUHHH, conservitards!

The cause of inflation is a huge spike in demand for goods without a corresponding increase in supply--and that's due to worldwide labor shortages and supply chain issues. Biden, and for that matter the entire United States, has very little influence on that. We're not the biggest dogs in the pound.

Again, if your default mindset is to blame Biden for everything you don't like, then you don't need or want to use logic and reason. Everything's his fault. However, even a rudimentary understanding of how the economy works shows how silly that stance really is.

DUHHH, conservitards! (Or, in the case of Charles, conservitard.)

Man, I don't even know where to start on this idiotic rambling.  Kevin needs to stick to teaching 2nd graders as Economics is not in his wheelhouse.  Perhaps if he reads this he'll understand....but I doubt it.

Milton Friedman on Inflation (stlouisfed.org)

I guess Kevin thinks he knows more than Nobel Laurate Milton Friedman.  He doesn't.  Or perhaps he can point to any prominent economist blaming the Global economy for the 6+% US inflation rate or the .01% inflation rate of Japan or the 19% inflation rate of Turkey.  I don't think he'll find one. 

Kevin is completely disconnected from reality...making up his very own economic theories to fit his Biden is impotent narative.  How cute he loves Crazy Joe so much...it may be sexual like a grandaddy thing.  

 "You know the thing"....

Maybe Charles didn't notice that that article was written in 2007. Maybe he didn't notice that it doesn't mention Joe Biden. Maybe he didn't notice that Friedman didn't say that inflation is the fault of whomever happens to be President at the time. In fact, aside from posting a link, he didn't say how Friedman supports his idiot position at all.

Of course, to do that, he would have had to read the article. Maybe he didn't read it at all. I suspect that's the case, or he'd realize that Friedman actually refutes the dumbass arguments he's been making. You see, I did read it. (And by the way, Nobel Laureate he may be, but not all economists agree with him or his philosophies; furthermore, much of what is in the article is opinion--informed opinion, perhaps, but opinion nonetheless.)

Charles may not know (because he's, well, fucking ignorant) that Friedman was a chief architect of "Reaganomics," an economic philosophy that advocated for non-interventionist government policies and has since been shown to be naive and simplistic. He opined, for example that the Federal Reserve should be abolished--without saying how its functions would be replaced.

One of his more amusingly crackpot positions was that medical licenses should be abolished and that anyone who wanted to should be able to practice medicine. The "free market" would determine who the best doctors were. And he was right! That would work! The ones whose patients didn't die as often would be the best!

I realize that Charles is infected with American conservitard philosophy, which among other things says that AMURRICA is the bigliest bestest mostest importantest country in the WHOLE DANG WORLD and the entire planet's fortunes depend on the U.S.'s benevolence. Friedman was the Reaganites' darling during his heyday, which not at all coincidentally, was the time of the "America First" and "shining city on a hill" crap.

Oh, and Charles dear---do you want me to post links to articles explaining how global supply chain issues are the primary cause of the present inflation? But not so fast--you have to agree to, when I do so, state, "Gee, I guess I was full of shit after all." And I'll hold you to your promise! I won't provide a conservitard with information unless he's prepared to admit that it proves him wrong, wrong, wrong--stupid, foolish, dumb-Charles wrong.

So Kevin does think he's smarter than a Nobel Prize winner in Economics whose theories on inflation are generally accepted as the gold standard of economics.  Friedman belived that 'inflation is always and everywhere a monetary phenonomenon'.  His thinking influenced every Fed chari from Paul Volker to Jerome Powell.  This is why I listed the federal reserve's monetary policy as the #1 driver of inflation.....because that is a generally accepted economic principle....one one for which Kevin is obviously clueless. 

Unfortunately for us, Powell missed the warning signs and should have been putting the brakes on the money supply months ago.  And it's why it's questionable that Biden reappointed him.  It's also why I showed that the Fed Governors can be replaced for cause by the Presdent.  

But this is clearly going over Kevins head.   I guess we do know who is full of shit after all.  His love for Sniffy Joe must be overwhelming his senses if he ever had any to start.  I have neither the time or inclination to teach economics to Kevin.  But he can continue to google and make up his own theories of global inflation and how the Fed's easy money policy, the war on carbon based energy and excessive federal spending has had no impact in inflation to his heart's content.  Just don't be shocked when interest rates start going up as the Fed tighten's monetary policy to combat inflation...because they well know the real solution.  They just failled to recognize the problem in time.

I can guarantee one thing.  If the exact same economic conditions were happening under President Trump, Kevin and his ilk would be quick studies in pointing to the the President as the cause.  Becasue the buck stops there.  Regardless of how much it's devalued by inflation.   You know that's true.