Biden's incompetent cabinet

[mspart]

All the while Biden and team were proclaiming from their mountain tops that this inflation thing was temporary and would not impact the economy much.   I think they knew but didn't want to panic anyone.   Instead they got a panic because they didn't tell the truth.   And who better to know the truth than those that orchestrated the policies that would produce the inflation? 

mspart

[Wrestleknownothing]

2 hours ago, mspart said:

All the while Biden and team were proclaiming from their mountain tops that this inflation thing was temporary and would not impact the economy much.   I think they knew but didn't want to panic anyone.   Instead they got a panic because they didn't tell the truth.   And who better to know the truth than those that orchestrated the policies that would produce the inflation? 

mspart

What is your definition of temporary?

And what panic are you talking about?

And quantify much impact on the economy.

[mspart]

15 minutes ago, Wrestleknownothing said:

What is your definition of temporary?   You should ask this of Biden and his admin. 

And what panic are you talking about?  Panic of a rapid increase in prices inflation.

And quantify much impact on the economy.   9% inflation that effectively raised prices by 20%.

https://www.reuters.com/world/us/biden-says-inflation-temporary-fed-should-do-what-it-deems-necessary-recovery-2021-07-19/

Biden says inflation temporary; Fed should do what it deems necessary for recovery

July 19, 202111:46 AM PDTUpdated 3 years ago

 

https://finance.yahoo.com/news/bidens-big-inflation-problem-prices-are-now-up-nearly-20-since-he-took-office-080049551.html.

Biden's big inflation problem: Prices are now up nearly 20% since he took office

Prices as measured by the seasonally adjusted Consumer Price Index (CPI) are now up over 19.4% in the three-plus years since Biden took office.

I knew you really didn't want to ask that question.   But you thought you had me.   Sorry to disappoint.  You have not been paying attention.   Many in the country did and that is why the Ds are now going to be out of power on the federal level. 

mspart

[Wrestleknownothing]

17 minutes ago, mspart said:

18 minutes ago, mspart said:

What is your definition of temporary?   You should ask this of Biden and his admin. 

And what panic are you talking about?  Panic of a rapid increase in prices inflation.

And quantify much impact on the economy.   9% inflation that effectively raised prices by 20%.

 

"Inflation", as you are using it, was temporary. It went down as fast as it went up.

You did not answer the panic question, because there was no panic. You just restated that there was inflation. Yep. Agreed. Panic? You are 100% wrong here.

As for impact on the economy, you will be hard pressed to back that one up with data. However, if you would like to look at data, check out the Census Bureau Index of Economic Activity that aggregates 15 economic indicators. Though you will not find support there. https://www.census.gov/economic-indicators/

Any number of economists have predicted a recession that is just so stubborn that it refuses to come. The result is that too many people live scared lives and miss out on economic growth. 

[mspart]

Sorry, your chart is misleading.  yes it went up and came down over the space of 3.5 years.   Your chart says this but the way it is presented looks like it was a short time.  

So after showing you all I did all you want to discuss is panic?   Maybe panic is the wrong word.   High anxiety over rapidly rising prices.  Does that do it for you?   That did happen. 

Again you are trying to argue this with the experts used by Biden and completely panned by those that voted R?   Normal people can see that gas prices are higher than 9%, food prices are higher than 9% etc etc.  

Yes inflation came down but that did not stop the rising prices.   That is the definition of inflation.   Devaluing of money with resulting rise in prices.  When you have 3 years of it, with a peak of 9%, prices will be higher than just 9%.  Anyone with a HS level of math could deduce this.   If you want to believe otherwise, go right ahead.   It doesn't change the facts at all. 

https://www.cbsnews.com/news/food-prices-grocery-inflation-biden-economy/

Any increase in food prices may be especially painful to American consumers, given that supermarket prices are now 25% higher than in January 2020, while inflation has increased 19% over that same time. That means even though grocery costs are now rising at a slower pace than in the depth of the pandemic's inflationary spike, the same shopping basket still costs more than a month or a year ago, a fact that has soured many consumers on the economy. 

Two-thirds of voters polled by Yahoo Finance/Ipsos late last year said food prices are where they're most impacted by inflation, far outpacing the 1 in 10 who said they feel the impact through gas prices or higher rents.

mspart

 

 

 

[Offthemat]

8 minutes ago, mspart said:

Sorry, your chart is misleading.  yes it went up and came down over the space of 3.5 years.   Your chart says this but the way it is presented looks like it was a short time.  

So after showing you all I did all you want to discuss is panic?   Maybe panic is the wrong word.   High anxiety over rapidly rising prices.  Does that do it for you?   That did happen. 

Again you are trying to argue this with the experts used by Biden and completely panned by those that voted R?   Normal people can see that gas prices are higher than 9%, food prices are higher than 9% etc etc.  

Yes inflation came down but that did not stop the rising prices.   That is the definition of inflation.   Devaluing of money with resulting rise in prices.  When you have 3 years of it, with a peak of 9%, prices will be higher than just 9%.  Anyone with a HS level of math could deduce this.   If you want to believe otherwise, go right ahead.   It doesn't change the facts at all. 

https://www.cbsnews.com/news/food-prices-grocery-inflation-biden-economy/

Any increase in food prices may be especially painful to American consumers, given that supermarket prices are now 25% higher than in January 2020, while inflation has increased 19% over that same time. That means even though grocery costs are now rising at a slower pace than in the depth of the pandemic's inflationary spike, the same shopping basket still costs more than a month or a year ago, a fact that has soured many consumers on the economy. 

Two-thirds of voters polled by Yahoo Finance/Ipsos late last year said food prices are where they're most impacted by inflation, far outpacing the 1 in 10 who said they feel the impact through gas prices or higher rents.

mspart

 

 

 

You’re exactly right.  Government data is adjusted and manipulated to reflect any information they desire.  If calculated the same as it was in the ‘70s, it would match Carter.  
 

Panic is when you adjust your grocery selections to be more affordable and you still can’t pay the credit card off at the end of the month.  Check the stats on credit card debt.

Panic is enough to cause every category of the electorate to vote for a different plan.