Sleepy and unemployment.

So Tom and Boiler....your position is the FED should have continued to artifically prop up the bond and securities maerkets by purchasing  trillions of dollars of them  .....in addition to lending money for free?    How incredibly "Free shit"  of you both.

Our markets are getting back to the capitalist nature they were for the first time since 2008.    Conservatives cry about  Socialism and then cry three times as loud when Socialism is taken away.  And I'm afraid my IQ isnt low enough to debate how government spending only causes inflation when Democrats do it.    But maybe someone else can oblige.

As long as we're arguing about inflationary causes, let's not exclude the importance and many tentacles of energy costs in the mix. That factor influences initial, middle and endpoints along the entire economic and commerce chains...and thus inflation. Returning our markets to their "capitalistic" nature that PJ referred to significantly involves energy costs. Reducing energy costs should be considered on any remedial solution list for reducing the problem. And as a good - intentioned conservative contributor (*l*), we have the material resources to greatly impact our domestic energy supply today..we don't need to consider Venezuela in the supply options. I realize one of the intents of the clean green  movement is to "cut energy costs" at some point on the horizon, but we're nowhere near that point today.

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I realize increasing oil / gas supply is a massive no-no with the current administration and temporarily gets in the way of the clean/ green/ EV inevitable dream. That dream wouldn't be delayed all that much, imo (plans, enacted legislation, and economic support are fully embedded)..if we were to just currently rebuild our own reserves with our own resources. It'll never happen under the current politics/ administration, I'm aware.

If nothing else, this will just add an additional point for debate among the participants. Call it another ribeye tossed in the middle of the room floor.

Actions to minimize inflation should have been done over a year ago.  They should have not not pretended inflation was transient, not penalize the fossil industry, reopen the country's economy, not spend over $2 trillion on increasing the deficit, paying people not to work & other items that spent money on non-productive efforts.

If that was done inflation would have been lower, deficits would be lower, drastic efforts by the Fed would not have been done & the GDP would be up

I wasn't cherry-picking the data--unlike you clowns.

Any "actions to minimize inflation" could only have been domestic--and we have 5% of the world's economy. Inflation is global, as is the economy. Tom doesn't get that.

Regarding a reduced domestic energy supply and associated inherent cost increases( and not just at the pump), that aspect was one of the very first derailings the current administration undertook from the get-go. Energy cost increases perfuse and affect almost every aspect of our commerce chain ( including investment and so-called money markets). There's a lot of involved factors ( some of which you referred to), but that one maintains a lofty position in terms of inflationary influence. But, at least Biden followed through on a campaign promise.

Vote.

Charles, the cost of energy is a global phenomenon, and any action the Biden or any other administration might take that affect it border on the trivial. Do this hypothetical exercise. Let's say that Biden's radical liberal sooooocialist policies have created 8% inflation, are solely responsible for it, and otherwise, inflation would be zero and everything would be unicorns and rainbows. Now factor in that the US is 5% of the world's economy.

Multiply .05 by .08.

You now have the number representing the effect of the Biden administration's maximum effect on global inflation.

The current adminisration just opened up the biggest oil and gas production land compared to any president in our lifetimes.  And the opposition party uniformly  voted against it.     And thats just a simple fact that conservative media and their followers have a hard time reconciling with their narrative.

Joe Biden and liberals did not cut off Russian oil and gas resources to Europe - nor did they tell OPEC to cut their production by 2 million BPD.    And unlike OPEC our government does not control US oil supply which is left to the CEO's of our private market enterprise. 

And as I've posted here many times before - you can listen to what the actual CEO's of our oil companies say about future US production and what their reasons are for being hesitant to ramp up.   Their earnings calls are all public record and the transcripts are readily available online.   And all of them give the same excuse and its not "Joe Biden".    

Happy trails !

ZERO interest rates and FED quantitative easing are symptoms of an economy that is too weak to function on its own fundamentals.   Thats why the FED does those  things - so they can artifically prop up our economy.   It started in 2008.   

For the the first time since then the FED has concluded our economy is strong enough to take those massively Socialistic props away.       And while there is pain associatted with that as the artificial stimulous is removed - most sane people think its a healthy and long overdue development.   

Obviously you prefer the Government propped-up wonderland to continue.   Free country.   Just dont lecture us about government spending and socialism, OK?

Can you please show the excecutive order or legislation where "Biden undertook" the government imposed energy reduction upon our Free Market energy producers?  Or did you just connect those dots because it happened while he was president?

Do tell !