Higher Inflation Sticks Around for the Holidays

[Laodicean60]

Would you care to refute the facts in that article?

The article is true but when did the debt fuel spending start? As I've mentioned in other threads both parties are to blame. Trillions of dollars were spent on never-ending wars starting with G Bush (Iraq). I am an ex-Republican because of this very issue once I found out how dangerous the debt problem is to all Americans (my ignorance). I was naive to think politicians knew what they doing by creating fiscal policies. I've been hearing Republicans whine about the debt for 15 years or more and no spending bill produced. The government is trapped in having to spend (artificial GDP at taxpayer expense, not producer GDP) because they are afraid of a recession, especially a severe recession. If GDP gets too low due to recession we won't be able to service interest payment on the debt. Then what? Print money? Every time we print money we devalue the purchasing power of the dollar for our kids and grandkids. Recessions are a part of all economic cycles to cool off overheated markets or to pop bubbles but when politics are involved like now it's a black eye to the party during that time.

The transitory inflation due to the lockdowns caused a supply chain shock and with that the knee-jerk stimulus package that BOTH parties voted on accelerated inflation to 9%. I who didn't need the money gladly spent it.

 

[NxNW]

Would you care to refute the facts in that article?

Not at all. "0.0% increase from September and a 3.2% increase from a year earlier" sounds like Biden has completely turned around the inflation that resulted from the Trump Recession.

However, the thread title is completely false.

 

[George95]

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