Why do people still believe the HORRIBUL BIDEN INFLAYSHUN myth?

It's no one president, the economy was a snowball rolling downhill but now turning into an shit avalanche.  There is no way to stop this inevitable collapse of the USD so the money printing will continue until it no longer works.

 

 Congress, the body responsible for the budget doesn't even attempt to balance it, they just pretend to fight over a last minute Continuing Resolution every year and each side tries to put in whatever pork they can for their lobby's interests.


However, Democrats put most of their interests into actually destroying the system versus Republicans simply trying to grift more for themselves.  Either way, we as taxpayers are fucked in the end,  Don't bother considering retiring on a 401k, that'll be bled dry when the market tanks and the big players like Blackrock take out the rest of your life savings and probably the mortgage on your house.

 

That is, if the current administration doesn't launch us into World War III first.

 

Edited on Oct 5, 2024 12:58pm
Originally posted by: Aaron

It's no one president, the economy was a snowball rolling downhill but now turning into an shit avalanche.  There is no way to stop this inevitable collapse of the USD so the money printing will continue until it no longer works.

 

 Congress, the body responsible for the budget doesn't even attempt to balance it, they just pretend to fight over a last minute Continuing Resolution every year and each side tries to put in whatever pork they can for their lobby's interests.


However, Democrats put most of their interests into actually destroying the system versus Republicans simply trying to grift more for themselves.  Either way, we as taxpayers are fucked in the end,  Don't bother considering retiring on a 401k, that'll be bled dry when the market tanks and the big players like Blackrock take out the rest of your life savings and probably the mortgage on your house.

 

That is, if the current administration doesn't launch us into World War III first.

 


The just released jobs reports says otherwise as does the current inflation rate and the stockmarket. 

Barney Miller

The Sighting

 
 
 
Steve Landesberg in Barney Miller (1975)
 
ComedyDrama

A man liquidates all of his assets into gold, much to his wife's dismay. Wojo claims he saw a UFO over Staten Island.

 

_________________________________________________________________________________

 

If you invested $100 in the S&P 500 at the beginning of 1978, you would have about $20,361.05 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 20,261.05%, or 12.13% per year.

This lump-sum investment beats inflation during this period.

 

In the last 45 years, the Gold spot price index (in EUR) had a compound annual growth rate of 5.92%, a standard deviation of 17.50%, and a Sharpe ratio of 0.36.

Edited on Oct 5, 2024 2:27pm
Originally posted by: Jerry Ice 33

To answer your question honestly.......it is because lots of people believe the slamming of $ into the economy because of Covid created a lot of the inflation and they blame Biden for it.  (whether right or wrong)  


In order to believe that...one has to believe that the "slamming," as you put it, of funds that amounted to 0.003% of the G-7 nations' collective GNP* (for 2021) caused worldwide inflation that in many cases, exceeded 10%. I don't buy it, and neither do most economists. It's like tossing a rock into the ocean and saying that it caused a tidal wave.

 

*according to the Wall Street Journal, some folks that aren't exactly Biden's friends

 

You also highlight the primary misconception underlying the myth. Inflation was and is a global phenomenon. But there are a lot of folks, including, I daresay, most MAGAs, who grossly overestimate our standing and influence in the world. Yeah, we're a big, rich nation. But we still have only 5% of the world's economy, measured by GNP (not GDP). We certainly can influence the world's economy. But do we drive it? No bloody way. The last time that was even sort of semi-true was 1946. I think belief that that situation continues to today is part of the conservative, jingoistic "Amurrica First" vibe that is still echoing in the heads of the tiny-brained oldsters who still masturbate to the sound of Ronny Raygun speeches.

 

 


Originally posted by: MaxFlavor

Barney Miller

The Sighting

 
 
 
Steve Landesberg in Barney Miller (1975)
 
ComedyDrama

A man liquidates all of his assets into gold, much to his wife's dismay. Wojo claims he saw a UFO over Staten Island.

 

_________________________________________________________________________________

 

If you invested $100 in the S&P 500 at the beginning of 1978, you would have about $20,361.05 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 20,261.05%, or 12.13% per year.

This lump-sum investment beats inflation during this period.

 

In the last 45 years, the Gold spot price index (in EUR) had a compound annual growth rate of 5.92%, a standard deviation of 17.50%, and a Sharpe ratio of 0.36.


But you could buy more Big Macs for $100 in 1978 than you can today with $20,361.05. And fries? Forget it!

 

Oh, sorry, for a minute there I was inadvertently channeling an ITZ BIDENZ FAWLT MAGA.

 

There's a basic economic reality you illustrate, that ANY investment has to produce a return at least pacing inflation; otherwise, you'd be better off stuffing the cash into your mattress. Similarly, the cost of borrowing isn't the interest rate you pay; it's (interest - inflation). The cosmic joke here is that the higher inflation is, the less the gummint is paying for the national debt in real terms. We've kinda got the world by the balls, actually, considering how little we have to pay to borrow.

Originally posted by: Aaron

It's no one president, the economy was a snowball rolling downhill but now turning into an shit avalanche.  There is no way to stop this inevitable collapse of the USD so the money printing will continue until it no longer works.

 

 Congress, the body responsible for the budget doesn't even attempt to balance it, they just pretend to fight over a last minute Continuing Resolution every year and each side tries to put in whatever pork they can for their lobby's interests.


However, Democrats put most of their interests into actually destroying the system versus Republicans simply trying to grift more for themselves.  Either way, we as taxpayers are fucked in the end,  Don't bother considering retiring on a 401k, that'll be bled dry when the market tanks and the big players like Blackrock take out the rest of your life savings and probably the mortgage on your house.

 

That is, if the current administration doesn't launch us into World War III first.

 


Yeah, Biden's doing NOTHING to ward off them commie space aliens!

see the recent massive reversion of the jobs numbers over the last 2 years to answer that.  And the current one was a freak increase of government jobs.  If you think those are helping the economy grow, I'll point you to the Soviet Union and its current status, gone.

 

Stock Market?  Take out the top 7 and let me know what it looks like.  Yeah, those are the ones manipulated to make the whole shitshow polished like a giant turd.

 

Inflation?  Are you daft, just because it dropped 1.2% doesn't mean it's all good, look at what's scored to calculate inflation and look at the overall rate over 4 years, not just the last few months where it might have dropped a percentage.   We're still up 20%to -60% depending on what you look at.

Edited on Oct 5, 2024 6:21pm

Welcome to Zimbabwe and Weimar Republic.  Gosh, it was going so good until it didn't.  History doesn't repeat, it rhymes and it's quite a song and dance being pulled off.  You don't think the BRICS know this?  

 

Why do you think the USA is in forever wars and trying to weaken Russia through the Ukraine conflict?  Just for fun?  Do we really give a crap about Ukraine at all, just some corrupt POS country?

 

 No.  

Russia is our 'enemy' because it's working on a coalition to change the global reserve currency away from the USD and they are successfully pulling it off.

Edited on Oct 5, 2024 6:23pm
Originally posted by: Aaron

see the recent massive reversion of the jobs numbers over the last 2 years to answer that.  And the current one was a freak increase of government jobs.  If you think those are helping the economy grow, I'll point you to the Soviet Union and its current status, gone.

 

Stock Market?  Take out the top 7 and let me know what it looks like.  Yeah, those are the ones manipulated to make the whole shitshow polished like a giant turd.

 

Inflation?  Are you daft, just because it dropped 1.2% doesn't mean it's all good, look at what's scored to calculate inflation and look at the overall rate over 4 years, not just the last few months where it might have dropped a percentage.   We're still up 20%to -60% depending on what you look at.


So you want prices to drop "20-60%" to make up for DAT HORRIBUL BIDEN INFLAYSHUN? Yeah, that would be swell! Gonna have to cut wages by the same amount, too--otherwise the same amount of money chasing the same quantity of goods at half the previous prices would lead to--guess what? Wait for it...wait for it...

 

RAPID INFLATION!!!!!!!

 

It's stupid in the extreme to consider inflation over a four-year period. What matters is what's happening NOW. Though if you want something to moan about, you could consider inflation since 1849--it's over FIVE THOUSAND PERCENT since then! Impeach Lincoln! He caused it!

 

My personal experience is that I'm making more money for doing the same work than I was four years ago, and the percent increase is just about the same as the percent increase in the cost of the stuff I buy. That's in agreement with what the WSJ and Forbes say, and yeah, I know, they're all commie rags or space grapefruit aliens or whatever.

Originally posted by: Kevin Lewis

So you want prices to drop "20-60%" to make up for DAT HORRIBUL BIDEN INFLAYSHUN? Yeah, that would be swell! Gonna have to cut wages by the same amount, too--otherwise the same amount of money chasing the same quantity of goods at half the previous prices would lead to--guess what? Wait for it...wait for it...

 

RAPID INFLATION!!!!!!!

 

It's stupid in the extreme to consider inflation over a four-year period. What matters is what's happening NOW. Though if you want something to moan about, you could consider inflation since 1849--it's over FIVE THOUSAND PERCENT since then! Impeach Lincoln! He caused it!

 

My personal experience is that I'm making more money for doing the same work than I was four years ago, and the percent increase is just about the same as the percent increase in the cost of the stuff I buy. That's in agreement with what the WSJ and Forbes say, and yeah, I know, they're all commie rags or space grapefruit aliens or whatever.


Well, you're lucky, the rest of the country has gotten zero to 3% cost of living increase in that time for a net loss in wages.  I guess your Only Fans is doing well with that old man diaper routine, I'm sure the liberals suck it up.

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