There has never been a better time to take that trip overseas. The strong dollar makes even Europe affordable.
There has never been a better time to take that trip overseas. The strong dollar makes even Europe affordable.
Remember when Biden bragged about hot dogs being 16 cents cheaper last July 4th?
if he can take credit for that then he can take the blame for inflation.
Originally posted by: tom
Remember when Biden bragged about hot dogs being 16 cents cheaper last July 4th?
if he can take credit for that then he can take the blame for inflation.
What an idiot you are, stupid Tommie-poo.
Kevin, this is only one Biden fuck up increasing inflation. Limiting fracking limits natural gas production. This is almost 100% a domestic issue. Less gas means higher inflation. Should I go on?
His speech (uhhh joke) in Israel was a totally embarrassment to date, representing our country is a frickin’ joke! Libs be proud, you support a total moron. Which speaks well for all of you!
Originally posted by: rdwoodpecker
His speech (uhhh joke) in Israel was a totally embarrassment to date, representing our country is a frickin’ joke! Libs be proud, you support a total moron. Which speaks well for all of you!
Make no mistake....this is a big story overseas where they are laughing at the guy in charge of the US. And laughing loud.
Originally posted by: Boilerman
Kevin, this is only one Biden fuck up increasing inflation. Limiting fracking limits natural gas production. This is almost 100% a domestic issue. Less gas means higher inflation. Should I go on?
No, because inflation isn't just about the price of fossil fuels.
Also, there is absolutely no shortage of any fossil fuel in the US. There's a shortage of refining capacity. That's due to the bad decisions made by the fossil fuel companies. Of COURSE they want to blame it on Biden.
Originally posted by: Jerry Ice 33
Make no mistake....this is a big story overseas where they are laughing at the guy in charge of the US. And laughing loud.
I doubt that...but it's much better than the world reacting in shock, horror, alarm, and disgust to your orange hero, the con man and traitor.
Originally posted by: Mark
There has never been a better time to take that trip overseas. The strong dollar makes even Europe affordable.
Fact check: True!
Visited Amsterdam, currently in Dublin, on my way soon to Istanbul, Crete, and Athens.
Originally posted by: PJ Stroh
The US dollar is the highest its been in years. So the "weak dollar - too much money supply" is bullshit.
Dollar has been rising against other currencies for over a year
If Charles exchanged his Joe Biden money for those other currencies last year he would be in a shitload of trouble.
Better yet, look at the great inlfation hedge, GOLD, and its price. Weak dollar means expensive gold. But we have the cheapest gold price since COVID started.
The supply chain that Charles shrugs off is the heart of the problem. Gasoline and microchips arent expensive because of too much money floating around- they are expensive because the suppliers have been compromised. Go to a car lot and count the new cars they have available. You'll only need your fingers and toes to count.
And as far as Jerome Powell.....he's largely doing what he's suppossed to even if he's late to the party. But if Charles wants to cry about him being re-assigned to his position while ignoring the president who put him there in the first place....well go right ahead and play that hypocitical card. I would expect nothing less.
1. Money printing is most certainly one of the causes of inflation. Many economists would say 'Inflation is always and everywhere a monetary phenomenon....Includng more than one Nobel Prize winner. If you're claiming the Fed's past mis-management of the money supply is unrelated to our current inflation, well I've got a bridge to sell you. If you're saying we can't still have a strong dollar today after the Fed botched it for the first 14 months of the Biden administration, I've got two bridges to sell you. If you really dig into the numbers, the big change in exchange rates started in March of 2022. The same time the Fed first started getting serious about inflation this go round. Higher interest rates. QT1. Of course this actually proves my point.
2. There are other factors than our money supply mismanagement that impacts currency exchange rates. You're conflating two very different things.
a. First, we're the world's largerst economy and own the world's reserve currency. If we were Turkey we'd be experiencing their 44% inflation and currency devaluation. We're not Turkey. Yet.
b. Second, investors flock to the dollar when things get dicey. Like for instance the evaporation of 2 trillion dollars of crypto or 6 trillion in stock market value....you think the folks who sold out ended up with assets valued in Euros or Yuan or Pesos? Hell no.
c. Third, we're not the only country who mismanaged their money supply and have experienced reckless fiscal and energy policies. Think about it...if you dare. Would expanding our money supply impact the value of the dollar compared to other currencies if those currencies were also expanded? Obviously not. Yet it would cause inflation. The world is not a vacuum. Becuase of our reserve currency status, we just don't suffer quite as much as other do.
3. Hypocrisy....
You call me a hypocrite for saying Jerome Powell should have been replaced by Crazy Joe. The Fed has two missions. Employment and Price Stability. During the Trump years, we had low inflation and relatively stable prices. Employment numbers were excellent....especially improved labor participation. Then government shut down the economy because of covid. Unemployment shot up....but action was taken to protect workers. All the while inflation was in control.
Enter Joe Biden and the Democrat congress At the height of the shutdown April of 2020 the unemployment rate was 14.7%. When Joe took office it was 6.4%.....and had been improving every month since the depth of the pandemic. Even though the economy was recovering nicely and on a good trajectory, Joe pumped in 3 tillion in new spending when far less was called for. They reversed hundreds of Trump era actions and policies that encouraged domestic oil production. Many noted economists pointed our how this would lead to inflation. But not a warning from the Fed. Not a peep. And as inflation reared it's ugly head how long did it take for the Fed to realize that it wasn't 'Transitory' ? How long until their first real action to address inflation? Oh. That was March 16, 2022 with a 50 basis point increase. Late to the party? The party they threw.
And so you claim I'm a hypocrite for rightly saying that Fed had inflation under control during the Trump administration but allowed it to simmer and boil during the Biden administration? That's not hypocricy. That's simply history. And when I say Powell should have been replaced that's just holding someone responsible for failing. Something the Biden administration knows little about....well knows little about the accountability part...knows lots about the failing part.
