'Biden's inflation crisis is here': Inflation jumps to 5%

[CF DolFan]

I spoke about this in another thread but it really deserves it's own. Good ol liberalism at work. I swear life is trying to teach people a lesson but some of you refuse to ever admit being wrong until it kills you. Giving away free crap and forcing higher wages does not help. It actually hinders society ... especially the middle class. Can't lower interest rates any lower and free money and higher wages are only hurting so not sure what is the next move. This isn't good people.

'Biden's inflation crisis is here': Inflation jumps to 5% through April in the quickest rise since the Great Recession as Republicans blame soaring prices on massive Democrat stimulus programs

-Overall consumer prices rose 0.6% in May, totaling 5% over the prior 12 months
-It is the fastest rise in inflation since August 2008 during the Great Recession
-Core inflation, excluding food and energy, was up 3.8% in fastest increase since 1992
-Republicans blame freewheeling Fed monetary policy and Democrats' massive federal spending
-Shortages in labor and commodities, and surging consumer demand are also considered factors
-General Mills, Coca-Cola and Hormel all expect to raise prices as the cost of raw goods rises
-Chipotle is jacking up menu prices 4% to offset higher wages as it tries to attract workers

Inflation rose at a faster rate in May than any time since the Great Recession, as consumers face higher prices for everyday goods and services and Republicans blame President Joe Biden's free-spending policies.
https://www.dailymail.co.uk/news/article-9672595/Inflation-jumps-5-April-quickest-rise-2008.html

[Tenshot13]

Rent has gone up across the board too.  My brother's rent went from $1400/month to $2000 if he wants to renew.

[Dave Gray]

It's a necessary side-effect.

You need stimulus to offset recession.  Stimulus can cause inflation.  It's a balancing act.

It rose higher since the great recession?  Yeah, no shit -- that was just a few years ago, and it was the result of trying to come out of the recession.  This is how these economic situations work.


Not stimulating the economy means people stop buying goods, you have massive job loss, everyone holds on to their money, which leads to depression.  You have to react to what's in front of you.

[pondwater]

It's a necessary side-effect.

You need stimulus to offset recession.  Stimulus can cause inflation.  It's a balancing act.

It rose higher since the great recession?  Yeah, no shit -- that was just a few years ago, and it was the result of trying to come out of the recession.  This is how these economic situations work.


Not stimulating the economy means people stop buying goods, you have massive job loss, everyone holds on to their money, which leads to depression.  You have to react to what's in front of you.

The longer the government artificially props up the economy, the worse it's going to be when it finally crashes. Not if, when.

[Dolphster]

The longer the government artificially props up the economy, the worse it's going to be when it finally crashes. Not if, when.

True.  But as we have seen with things like the national debt, there doesn't seem to be an end game for the government kicking the can down the road.  The catch-22 to the government stopping artificially propping up the economy, reigning in the debt, etc is that politicians only want to get re-elected (be popular).  And the parent who forces a kid to eat their vegetables is never the popular parent. 

[pondwater]

True.  But as we have seen with things like the national debt, there doesn't seem to be an end game for the government kicking the can down the road.  The catch-22 to the government stopping artificially propping up the economy, reigning in the debt, etc is that politicians only want to get re-elected (be popular).  And the parent who forces a kid to eat their vegetables is never the popular parent. 

It's going to all crash and burn eventually. But then again the vast majority of crybabies born after GenX deserve what they got coming. By then I'll be dead and dead people don't care, LMAO

[ArtieChokePhin]

It's going to all crash and burn eventually. But then again the vast majority of crybabies born after GenX deserve what they got coming. By then I'll be dead and dead people don't care, LMAO

Nothing could be more accurate than your first sentence.  And piggybacking on your last sentence, I hope I'm dead by then too.  I'm working on setting up tax shelters for my kids so the government doesn't take my business and everything I have from them after I'm gone.

[dolphins4life]

Nothing could be more accurate than your first sentence.  And piggybacking on your last sentence, I hope I'm dead by then too.  I'm working on setting up tax shelters for my kids so the government doesn't take my business and everything I have from them after I'm gone.

   How do you do this?

[dolphins4life]

This is why I am not voting against my own interests when I vote for Trump

[Spider-Dan]

Inflation at 5%?!  This is catastrophic and probably unpreceden...




...never mind, go back to sleep.

The REAL crisis here is that the wrong people have too much money.  This is why you see complaints about "no one wants to work!" and now "inflation out of control!"

[ArtieChokePhin]

The REAL crisis here is that the wrong people have too much money.  This is why you see complaints about "no one wants to work!" and now "inflation out of control!"

You've taken liberalism to new heights, pal.  Who exactly are these "wrong people" and why do you think they have too much money?   You want more money, go out and bust your ass for it like I did.

[Spider-Dan]

Sorry, I can see how my intent may have not come through clearly.

The point I was making is that conservatives are currently whining because poor people have Too Much Money right now.  Between the COVID stimulus and the (still meager) expanded unemployment benefits, poor people have a decided lack of suffering over the past year or so.  So now we are supposed to care about inflation for the first time since the fall of the Soviet Union.

No one had a damn thing to say about inflation during the peak of the housing boom in 2006 (after two rounds of massive Bush tax cuts), but now This Is A Huge Problem and we need to take serious action to stop it immediately!  Or something.

[ArtieChokePhin]

Sorry, I can see how my intent may have not come through clearly.

The point I was making is that conservatives are currently whining because poor people have Too Much Money right now.  Between the COVID stimulus and the (still meager) expanded unemployment benefits, poor people have a decided lack of suffering over the past year or so.  So now we are supposed to care about inflation for the first time since the fall of the Soviet Union.

No one had a damn thing to say about inflation during the peak of the housing boom in 2006 (after two rounds of massive Bush tax cuts), but now This Is A Huge Problem and we need to take serious action to stop it immediately!  Or something.

OK.  Now I get where you're coming from.  The whining is not that they have too much money.  The whining comes from the fact that they are not earning it.  Conservatives have always been of the mentality that you work for your money and what you earn, you should be able to keep, hence the tax cuts.  Also, the fact that businesses aren't adequately staffed because no one wants to work.  Biden is cancelling the enhanced unemployment in September.  It should've been done already, IMO.

How do you do this?

Private message me for details.

[Fau Teixeira]

business could just pay workers more and they'll get an abundance of applicants

[Tenshot13]

business could just pay workers more and they'll get an abundance of applicants

Bullshit.  We've upped starting pay for our business by $2 more an hour and can't get one interview.  It's an easy thing to say when you're not actually doing the hiring.