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Economy Opinion Politics Reprints from others. Uncategorized

As inflation takes off, politicians eye more of your money

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As inflation takes off, politicians eye more of your money. Original article can be found here.

In a grocery store near you, prices are up and sizes are down. Inflation is roaring.

This is something former Treasury Secretary Lawrence H. Summers warned about back in February, when he unsuccessfully advised the Biden administration to scale down the size of its $1.9 trillion COVID-19 relief legislation. Calling the plan “macroeconomic stimulus on a scale closer to World War II levels than normal recession levels,” he predicted that it could “set off inflationary pressures of a kind we have not seen in a generation.” Summers also wondered how the administration would pay for “the public investments that should be the nation’s highest priority.”

So don’t believe President Biden when he says no one earning less than $400,000 per year will see a tax increase. His claims are wildly inflated.

So what happened? Inflation going up, up, up. Grocery and Utility bills are up. Gas up at the pump or recharge your electric vehicle. What’s  up is not coming down.

 

 

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Biden Pandemic Economy Life MSM Opinion Politics

What’s it tell ya when Biden’s friend at CNBC tells ya what a mess we’re in?

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Wednesday on CNBC’s “Squawk Box,” network anchor Jim Cramer sounded the alarm on inflation and how it is affecting investment.

Since January 20th, Biden has caused so many events that have brought on what’s called by some as the Biden Misery Index. Now even a strong supporter of his over at CNBC is telling the world that Inflation is even worse than first thought.

A recent poll found that 62% of American voters believe President Joe Biden is responsible for the rising inflation resulting in costs for the increase in everyday purchases such as groceries and gas.

 

 

 

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Economy Politics

Is inflation heading our way? Economists think so.

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Is inflation heading our way? Economists think so. In fact, many see inflation moving toward and perhaps a bit above the Federal Reserve’s 2% target rate that has been elusive for much of the past decade. The primary driver is an economic reopening fueled by more Americans getting vaccinated, which will cause upward price pressure in industries that were held back during the coronavirus pandemic.

Have you noticed how the price of gas has been rising? A dollar a gallon in my area. At the Fed’s meeting earlier this month, Chairman Jerome Powell acknowledged that the economy could see some price pressures, perhaps from rising energy.

 

 

 

Great interview.Brilliant man.Honest observation worthy of serious action, decision and precaution.His diagnosis seems very logical.I am convinced that the manic nature of the market is reaching its climax and end is near.My gut feeling points that bubble explosion may coincide with the next stimulus..

“Act big” is the new slogan of the Biden administration. There is a need for large fiscal spending to ensure a full recovery from the COVID-19 crisis. The Federal Reserve is on board. Its chairman Jerome Powell argued for the need for “patiently accommodative” monetary policy, a signal that the central bank is not planning to increase interest rates in the near future.

But some studies have shown that accommodative monetary policy has boosted asset prices, especially those of stocks and houses. Because the rich people own more assets than poor households, the wealth inequality in the U.S. may widen even further. Additional expansionary policies may lead to another wave of asset-price appreciation and wealth inequality increase.

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