Welcome To Stagflation

m.knox

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Aug 20, 2003
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Courtesy of Joe Xi Biden............. Believer of government spending IS happiness.

https://issuesinsights.com/2022/04/29/welcome-to-stagflation/

When it comes to the economy, Democrats like to say it’s unfair to judge a president by his first year in office. Very well. President Biden is now in his second year and now we have the statistical verdict of his economic stewardship rendered by the first-quarter drop in GDP. Stagflation, anyone?

It may well be that the first quarter’s annual GDP growth of -1.4% marks not just the beginning of a period of low or no growth accompanied by inflation, but also the return to the stagflation that ruined the decade of the 1970s and helped destroy the presidency of Jimmy Carter.

And no, you can’t blame Donald Trump anymore for things that go wrong. The economic disasters piling up are now on the progressive Democrats’ tab. They broke it, they bought it.
 

Sullivan

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Nov 24, 2001
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Courtesy of Joe Xi Biden............. Believer of government spending IS happiness.

https://issuesinsights.com/2022/04/29/welcome-to-stagflation/

When it comes to the economy, Democrats like to say it’s unfair to judge a president by his first year in office. Very well. President Biden is now in his second year and now we have the statistical verdict of his economic stewardship rendered by the first-quarter drop in GDP. Stagflation, anyone?

It may well be that the first quarter’s annual GDP growth of -1.4% marks not just the beginning of a period of low or no growth accompanied by inflation, but also the return to the stagflation that ruined the decade of the 1970s and helped destroy the presidency of Jimmy Carter.

And no, you can’t blame Donald Trump anymore for things that go wrong. The economic disasters piling up are now on the progressive Democrats’ tab. They broke it, they bought it.

th
 

Dzapper

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May 5, 2019
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Courtesy of Joe Xi Biden............. Believer of government spending IS happiness.

This situation shouldn't be a big problem for the Lefties, right Ramble?

They've got this MMT thing down pat. They flooded the economy with excess purchasing power in the form of "free money" from Uncle Sam while they instituted policies that severely restricted supply chains. CHECK. They had their enablers at the Fed keep interest rates artificially low to meet the "emergency" conditions in the economy that have lasted two plus years. CHECK. They declared war on carbon fuel industry and had zero plans to address fuel shortages other than pay our sworn enemies for providing what our own domestic industry was restricted in producing. CHECK So, fuel and food and housing prices spike and inflation runs hotter than it has since the late 70s. Check. Great so far.....we're right on the Soc/Dem plan...

NOW, it's time to rein in that nasty inflation . This is the beauty part of how MMT works! Ramble laid it all out for us months ago. We simple TAX the excess purchasing power out of the economy and all will be just fine! CHECK and DOUBLE CHECK!!

But, wait a gosh darn minute here......who do we tax?.....just those greedy billionaires who haven't paid "their fair share" of taxes? Will that lower bread, gas and rent costs? hmmmmm. I don't think that Elon and Jeff and Bill and Warren are eating all that Wonder Bread and driving their gas guzzlers enough to make a big difference. No, I think if we have to address the problem of taming inflation where it is affecting most Americans, those "correction taxes" are going to have to be just a little (ha ha) more broadly applied. But, hey, no prob. This Admin has a deep bench and the have trained economists in Congress (including Bernie and AOC) who can guide us back to stability. Otherwise, we're fvcked.....

(Here is another great example of leftist economic thinking:
Ramble says that little bit of fentanyl coming over the open southern border is no big deal. After all, it's only causes a small percentage of the overall O/D deaths.....most coming as a result of the stuff coming into the country a ports of entry.....so why bother? These addicts who are dying bring it on themselves anyhow and , besides, we can't try to stop it at the ports of entry...or it would harm the economy.....wha?)

The Soc/Dems have to be doing all this crazy stuff on purpose so that they can bring their Socialist American dream into reality. They can't be that stupid to think any of this is good policy, right? Which is it?
 
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m.knox

Well-Known Member
Gold Member
Aug 20, 2003
104,841
58,271
1
Courtesy of Joe Xi Biden............. Believer of government spending IS happiness.

This situation shouldn't be a big problem for the Lefties, right Ramble?

They've got this MMT thing down pat. They flooded the economy with excess purchasing power in the form of "free money" from Uncle Sam while they instituted policies that severely restricted supply chains. CHECK. They had their enablers at the Fed keep interest rates artificially low to meet the "emergency" conditions in the economy that have lasted two plus years. CHECK. They declared war on carbon fuel industry and had zero plans to address fuel shortages other than pay our sworn enemies for providing what our own domestic industry was restricted in producing. CHECK So, fuel and food and housing prices spike and inflation runs hotter than it has since the late 70s. Check. Great so far.....we're right on the Soc/Dem plan...

NOW, it's time to rein in that nasty inflation . This is the beauty part of how MMT works! Ramble laid it all out for us months ago. We simple TAX the excess purchasing power out of the economy and all will be just fine! CHECK and DOUBLE CHECK!!

But, wait a gosh darn minute here......who do we tax?.....just those greedy billionaires who haven't paid "their fair share" of taxes? Will that lower bread, gas and rent costs? hmmmmm. I don't think that Elon and Jeff and Bill and Warren are eating all that Wonder Bread and driving their gas guzzlers enough to make a big difference. No, I think if we have to address the problem of taming inflation where it is affecting most Americans, those "correction taxes" are going to have to be just a little (ha ha) more broadly applied. But, hey, no prob. This Admin has a deep bench and the have trained economists in Congress (including Bernie and AOC) who can guide us back to stability. Otherwise, we're fvcked.....

(Here is another great example of leftist economic thinking:
Ramble says that little bit of fentanyl coming over the open southern border is no big deal. After all, it's only causes a small percentage of the overall O/D deaths.....most coming as a result of the stuff coming into the country a ports of entry.....so why bother? These addicts who are dying bring it on themselves anyhow and , besides, we can't try to stop it at the ports of entry...or it would harm the economy.....wha?)

The Soc/Dems have to be doing all this crazy stuff on purpose so that they can bring their Socialist American dream into reality. They can't be that stupid to think any of this is good policy, right? Which is it?

When you put it like that, it does seem like a grand plan. I still believe most on the left are too damn stupid and emotional to follow a grand plan.

Interesting infographic. Stimulus response per nation as a % of GDP.

US-COVID19-fiscal-response-Comparing-fiscal-responses-to-the-pandemic-2022.png


Yeap. Paying people to CONSUME and not PRODUCE is a sure way to undermine the health of an economy.
 
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Dzapper

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May 5, 2019
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When you put it like that, it does seem like a grand plan. I still believe most on the left are too damn stupid and emotional to follow a grand plan.

Interesting infographic. Stimulus response per nation as a % of GDP.

US-COVID19-fiscal-response-Comparing-fiscal-responses-to-the-pandemic-2022.png


Yeap. Paying people to CONSUME and not PRODUCE is a sure way to undermine the health of an economy.
The Lefties should be happy to see this chart. There we are with (or leading) all of the European Socialists they love to hold out as utopia models. Those countries and Singapore, one of the most strictly government controlled societies in the world, are just what they have in mind for us.
 
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