So dems, please tell us how the Biden economy is helping the American consumer. Oh, they can easily find 2 jobs to survive.
Another Biden record as Fed raises interest rate to 22 year high, making it more expensive to buy homes, cars and other things.
- Thread starter Orangeclad
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To be fair, it's having the intended effect.
The economy and job growth is being tempered, and prices are coming down. I'm a Product Manager and resins, packaging, raw materials...basically everything but labor and overhead are starting to come down.
I just hope they didn't overdo it. The only thing worse than inflation is deflation. We just need to get inflation to the lowest possible levels.
The problem I have is WHY they are having to do it and WHOSE policies caused it. And I'm still paying $3.65 for gas. But the costs are sky high for homes and cars with these interest rates, pricing some out of the market.
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I think a recession is already baked in. Maybe 2% or so this Q but it should start for sure from Q3, Q4 or Q1 at the very latest.
So between record inflation, and record interest rates....does ANYONE want to come claim how GREAT the economy s doing? PLEASE come speak up! LOLOLOLOL
Your mind was blown because @fatman76 was honest about a partisan subject?
fwiw, I completely understand that this would blow your mind. My mind was not blown, however.
So let me get this straight. Biden takes over an economy with an inflation rate of 1.4%. In three months he triples it to 4.2% and gets it over 8%, a 40 year high. So the Fed is forced to use chemo therapy on this inflation cancer and starts raising interest rates. Is it having an intended effect of bringing down the inflation rate? Yes, that is a fact. But I hope it wasn't going to stay at 8%. And is inflation still very high? Yes, that is also a fact.
But what is the flip side to the Fed raising interest rates to curb inflation? The cost of borrowing money is sky rocketing. Look at what it's doing to mortgage interest rates and car loans and other types of borrowing as well. Some first time home buyers are getting priced out of the market.
The point of the thread was not to blame the fed for what it's trying to do or to say that it isn't lowering the inflation rate. The point was to look at both WHY the fed is being forced into their actions, and that it points straight back at the moron/vegetable in the white house and his ridiculous spending policies and to also point how these high interest rates are really affecting lots of people's ability to borrow.
But what is the flip side to the Fed raising interest rates to curb inflation? The cost of borrowing money is sky rocketing. Look at what it's doing to mortgage interest rates and car loans and other types of borrowing as well. Some first time home buyers are getting priced out of the market.
The point of the thread was not to blame the fed for what it's trying to do or to say that it isn't lowering the inflation rate. The point was to look at both WHY the fed is being forced into their actions, and that it points straight back at the moron/vegetable in the white house and his ridiculous spending policies and to also point how these high interest rates are really affecting lots of people's ability to borrow.
Well you might want to read his post again. He definitely used 2 of the 3.
Fatman is usually a truth teller, I never said that he wasn't. He also got spine. Now we all know that you are the opposite. You are scared to defend law enforcement against the right.
No, its not very easy to find a second job as most jobs want you to have open availability and do not like working around another jobs schedule.
Just got back from 10 days in Minnesota, all over the state, and saw a ton of help wanted signs everywhere I went, whether retail, restaurants, service industries like a place where my wife got her hair done with many signs including the phrase "full time, part time. Employers are desperate to get workers and I think many employers are more than willing to accomodate schedules.
What? 😂
Excellent btw...time to talk about something else, eh? You're a ridiculous person.
So here's his post...
In what way did he minimize and how was he intellectually dishonest in this post? Perhaps you just don’t know what "2 and 3" are???
And that is the reason that I no longer engage that clown anymore. Simply has been liberating.
Guilty pleasure. Some people lick 9 volt batteries; I do this. 😂
To be fair interest rates were stupid low, probably too low, for a long time.
But that led to extremely low inflation and an extremely hot economy - at least until Covid. Then the gov’t decided it needed to spend (print) about $10T to keep the economy going which led to runaway inflation. The fed steps in to curb inflation and that leads to an economic slowdown and lower inflation.
But inflation is accretive - the higher prices gov’t spending caused are still baked into the cake. Now that the economy is slowing we’re seeing weaker job growth and weaker demand which is leading to lower raw material costs in some sectors. But if the economy slows too much we’re all screwed, because our weaker dollars and smaller paychecks won’t buy enough goods and services.
My point is, this was caused by the gov’t spending too much money. But it’s good for the gov’t, inflation and the money printing that largely causes it makes their debt worth less. They get a benefit and we get hosed, as usual.
It is a balancing act and ya don't want to have the medicine slow the economy too much. It reminds me of air speed and keeping an airplane flying. If you reduce air speed too much, you'll get a stall warning. I hope Powell knows where the fed rate is that keeps the economy from stalling.
Covid was the cost of everything negative with the economy. It hurt Trump and Biden. It only helped Biden. The rest of the world is still struggling with recovering from Covid.
That's my main concern...overreact the the consequences are massive.
And the Fed doesn't know jack, they're guessing.
I would have expects our snowflakes in here defending his record on the economy?? Where are they? THEY CAN'T...it is indefensible
Which means the Fed doesn't know the difference between a stall warning and wind chimes.
