The Biden administration: Inflation does not hurt poor people

marke

Well-known member
If I had not read this I would never have believed any government officials would have ever said something so stupid.


Ronald Klain, the White House chief of staff, was criticized online late Wednesday after he retweeted a post from a Harvard professor that summed up our top economic issues as "high class problems."

Jason Furman, Harvard’s Aetna professor of the practice of economic policy, said the country would not be faced with these issues if the unemployment rate was still 10%, an apparent reference to Federal Reserve Chair Jerome H. Powell's comments early this year when he said the unemployment rate in January was around that number.

BUTTIGIEG CALLED OUT OVER ‘JOKE’ ABOUT SUPPLY CHAIN


Furman said if that unemployment rate was still a reality, the country would have "had a much worse problem."


Conservatives on social media took issue with Klain’s retweet, claiming that he was, in effect, downplaying the hardships that some Americans are experiencing.

Tom Cotton: Buttigieg is incapable of organizing nation’s supply chain crisis
Biden has no clue. He thinks the economy is improving. He thinks gas prices are being caused by increased earniongs by increased employment in his vibrant economy. Biden thinks inflation is only small and will soon be going down. Biden thinks high gas prices are not his problem and will not hurt poor people. Biden is clearly incompetent and doing great harm to the US by supporting incompetent and destructive ideas and policies.

Inflation is not going to go down, as stupid democrats tell us.



Federal Reserve Chairman Jerome Powell is expected to warn Congress that while the Federal Reserve continues to expect inflation will move down "significantly" over the next year, it "now appears that factors pushing inflation upward will linger well into next year."

The new COVID-19 variant Omicron could have a negative impact on employment and inflation, Powell plans to tell Congress Tuesday, according to his prepared remarks.

"The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation. Greater concerns about the virus could reduce people's willingness to work in person, which would slow progress in the labor market and intensify supply-chain disruptions," Powell will warn. He'll be appearing at a hearing before the Senate Committee on Banking, Housing and Urban Affairs to testify about the economic recovery from the pandemic.
 

marke

Well-known member
There was a time here when you'd get an infraction for taking the Lord's name in vain (I know who you're referencing, so don't bother to 'splain it). Interesting you don't have a problem repeating it though. Another evangelical barrier broken in the MAGA era.
Devils claiming to be Christian say all manner of wicked things and then condemn Christians who repeat what those devils said in explanation for their condemnation of the wicked for saying those wicked things.
 

marke

Well-known member
Nevermind. Just sit back and watch supply and demand do its thing.



You would've made a good Nazi.
If by "Nazi" you mean a God-fearing, God Bless American patriot, then you are right to accuse me. However, if by "Nazi" you mean a deranged, anti-God, fascist, narcissist, hedonistic, greedy, power-hungry, Constitution-rejecting follower of Marxist atheism then I am not guilty.
 

marke

Well-known member
I said you'd make a good Nazi because of the way you routinely and consistently dehumanize and demonize people, and by the way you describe immigrants as being disease-ridden and greedy, which is exactly how Nazi propaganda depicted the Jewish people.

marke:


Nazi:

"Jews Are Lice: They Cause Typhus"

thumb




The Nazis often portrayed those they persecuted as vermin, parasites, or diseases. Nazi ideology focused on the idea that Germany’s "racial purity" was under attack from the "blood of weaker peoples," and Nazi propaganda often depicted Jews, political opponents, and others as parasitic organisms that threatened the overall health of the so-called Volksgemeinschaft (German racial community).1 During the years of the Nazi regime, German doctors frequently argued that Jews spread disease. Reflecting common themes in Nazi propaganda, these medical professionals repeatedly pushed the false claim that Jews were especially responsible for outbreaks of typhus—a deadly contagious disease spread by lice.
Modern ideas in America most like the evils of Naziism are found in the black democrat Critical Race Theory nonsense. In CRT, white folk are like "vermin, parasites, or diseased" to quote your source.
 

marke

Well-known member
Too many democrats either don't understand inflation or are lying about its causes and consequences for dishonest political reasons. But Senator Sinema gets it. Good for her.


During a sit down interview Thursday with CNN, Arizona Democratic Sen. Kyrsten Sinema told Lauren Fox, CNN Congressional Correspondent, that “inflation is real.”

“When I’m home in Arizona, I hear, number one, about the price of gas and, number two, about the price of food,” Sinema told CNN. “People are very concerned about the amount they’re spending just to survive every day. And inflation is real,” she concluded. (RELATED: ‘He’s The Mad Hatter’ — Sen. Barrasso Calls Biden’s Spending ‘Alice In Wonderland’ Logic)
https://dailycaller.com/2021/11/28/...en-alice-in-wonderland-build-back-better-act/

Inflation has hit its highest levels in three decades, with the Consumer Price Index (CPI) hitting 6.2% on a year-over-year measure. The prices of gas, food, and other products have suffered from a shortage, causing companies to raise their prices as their quarterly profits continue to plummet.
 

annabenedetti

Well-known member
Biden has no clue. He thinks the economy is improving.

And then — a Christmas miracle!

Holiday retail sales were the highest ever, jumping 8.5 percent from last year and nearly 11 percent from pre-pandemic 2019, as “consumers splurged throughout the season,” Mastercard reported Sunday.

Stores were stocked. Package deliveries were overwhelmingly on time. Inflation, though a serious concern, clearly didn’t deter shoppers, and holiday motorists found gas prices 14 cents a gallon lower than in November.

“America’s economy improved more in Joe Biden’s first 12 months than any president during the past 50 years notwithstanding the contrary media narrative contributing to dour public opinion,” Matthew Winkler, former editor in chief of Bloomberg News, wrote last week.


For months, the GOP-Fox News axis forecast the bluest of Christmases.​
House Republican leader Kevin McCarthy joined 159 House Republicans in a letter to President Biden saying his policies “will certainly ensure that this Christmas will not be merry” because of a “supply chain crisis” and inflation.​
Chairman Jim Banks of the House Republican Study Committee, citing the same reasons, wrote to colleagues: “Our job as Republicans is to explain to the American people what the grinches at 1600 Pennsylvania Ave did to ruin Christmas.”​
Fox News told viewers that “Christmas presents for your kids may not arrive on time or even at all” (Sean Hannity), that the president is “the Biden Who Stole Christmas” (Laura Ingraham) and that Biden is “facing a nightmare come Christmastime,” when “gifts are going to cost a fortune, and that’s even if you’re lucky enough to snag anything” (Jesse Watters).​
Breitbart News trumpeted a Trump campaign adviser’s forecast for “a frankly miserable Christmas … the Biden Blue Christmas.” Newsmax foresaw “Biden’s Blue Christmas: Shortages, Frustration, Economic Malaise.”​
And then — a Christmas miracle!​
Holiday retail sales were the highest ever, jumping 8.5 percent from last year and nearly 11 percent from pre-pandemic 2019, as “consumers splurged throughout the season,” Mastercard reported Sunday.​
Stores were stocked. Package deliveries were overwhelmingly on time. Inflation, though a serious concern, clearly didn’t deter shoppers, and holiday motorists found gas prices 14 cents a gallon lower than in November.​
So, did GOP leaders and Fox News acknowledge they fearmongered in error? My closed-caption search might have missed something, but I found only three passing mentions on Fox News of the holiday sales triumph, amid a new round of doomsaying (“it looks like things are about to get a lot worse in the new year”). Republican Twitter guns were similarly silent.​
After a year of such deception, the United States is experiencing the worst economy we never had.​
The economy is going gangbusters — historically so. Yet Americans, particularly Republicans, express a gloom not matched by economic reality — or by their own spending behaviors. Polls and consumer-confidence indices show an economic pessimism as grim as when millions lost jobs in the pandemic shutdown. This is, in large part, because disinformation has prevailed. Partisanship long colored economic views, but now Republicans, in addition to occupying a parallel political reality, are expanding an alternate economic universe.
“America’s economy improved more in Joe Biden’s first 12 months than any president during the past 50 years notwithstanding the contrary media narrative contributing to dour public opinion,” Matthew Winkler, former editor in chief of Bloomberg News, wrote last week.
Among the gains: The economy expanded an estimated 5.5 percent in 2021 (fourth-quarter growth dramatically outpaced Europe and even China). Unemployment plunged to 4.2 percent. Record-setting U.S. stock markets (the S&P 500 is up nearly 30 percent) outperformed the world. Productivity jumped. Corporate profits are the largest since 1950 and corporate debt the lowest in 30. Consumer credit expanded. Confidence among CEOs is the highest in 20 years. The American Rescue Plan cut child poverty in half.​
“The force of the American expansion is also inducing overseas companies to invest in the U.S., betting that the growth is still accelerating and will outpace other major economies,” added the Wall Street Journal.​
The fly in the ointment is inflation estimated at 5.6 percent for the year — the highest in 40 years — which is suppressing disposable income. This causes real pain for consumers, particularly low-income Americans buying groceries and gas and anybody buying a car. But studies show that, among the lowest earners, wage gains outpaced inflation. Also, inflation is less than half what it was 40 years ago, and, unlike then, today’s bond yields signal investors don’t expect inflation to worsen. Forty years ago, stagnant growth combined with inflation to cause “stagflation.” Now the economy is roaring.
Yet a Gallup poll out last week found that “Americans’ confidence in the economy has dropped to where it was in April 2020, when nationwide shutdowns brought on by the covid-19 pandemic plunged the nation into a recession.”
The reason is clear. As The Post’s Philip Bump explained, Republicans in April 2020 were evenly split on whether the economy was in excellent/good condition or fair/poor. Now, despite dramatic improvements, 91 percent of Republicans say the economy is in fair/poor condition. (The Democratic shift, in the opposite direction, was smaller.)
This happened — surprise! — during Fox News’s hysterical coverage of inflation, gas prices and supply chain problems. It invoked inflation roughly twice as often as CNN and MSNBC. Now, as Bump reported, three-quarters of Republicans say prices are the most important measure of the economy’s health (only one-quarter did a year ago), eclipsing unemployment, personal finances and the stock market.
In post-truth America, the economy is just another target for fakery.​
Opinion by Dana Milbank
Dana Milbank is an opinion columnist for The Washington Post. He sketches the foolish, the fallacious and the felonious in politics.
 

marke

Well-known member
And then — a Christmas miracle!

Holiday retail sales were the highest ever, jumping 8.5 percent from last year and nearly 11 percent from pre-pandemic 2019, as “consumers splurged throughout the season,” Mastercard reported Sunday.

Stores were stocked. Package deliveries were overwhelmingly on time. Inflation, though a serious concern, clearly didn’t deter shoppers, and holiday motorists found gas prices 14 cents a gallon lower than in November.

“America’s economy improved more in Joe Biden’s first 12 months than any president during the past 50 years notwithstanding the contrary media narrative contributing to dour public opinion,” Matthew Winkler, former editor in chief of Bloomberg News, wrote last week.


For months, the GOP-Fox News axis forecast the bluest of Christmases.​
House Republican leader Kevin McCarthy joined 159 House Republicans in a letter to President Biden saying his policies “will certainly ensure that this Christmas will not be merry” because of a “supply chain crisis” and inflation.​
Chairman Jim Banks of the House Republican Study Committee, citing the same reasons, wrote to colleagues: “Our job as Republicans is to explain to the American people what the grinches at 1600 Pennsylvania Ave did to ruin Christmas.”​
Fox News told viewers that “Christmas presents for your kids may not arrive on time or even at all” (Sean Hannity), that the president is “the Biden Who Stole Christmas” (Laura Ingraham) and that Biden is “facing a nightmare come Christmastime,” when “gifts are going to cost a fortune, and that’s even if you’re lucky enough to snag anything” (Jesse Watters).​
Breitbart News trumpeted a Trump campaign adviser’s forecast for “a frankly miserable Christmas … the Biden Blue Christmas.” Newsmax foresaw “Biden’s Blue Christmas: Shortages, Frustration, Economic Malaise.”​
And then — a Christmas miracle!​
Holiday retail sales were the highest ever, jumping 8.5 percent from last year and nearly 11 percent from pre-pandemic 2019, as “consumers splurged throughout the season,” Mastercard reported Sunday.​
Stores were stocked. Package deliveries were overwhelmingly on time. Inflation, though a serious concern, clearly didn’t deter shoppers, and holiday motorists found gas prices 14 cents a gallon lower than in November.​
So, did GOP leaders and Fox News acknowledge they fearmongered in error? My closed-caption search might have missed something, but I found only three passing mentions on Fox News of the holiday sales triumph, amid a new round of doomsaying (“it looks like things are about to get a lot worse in the new year”). Republican Twitter guns were similarly silent.​
After a year of such deception, the United States is experiencing the worst economy we never had.​
The economy is going gangbusters — historically so. Yet Americans, particularly Republicans, express a gloom not matched by economic reality — or by their own spending behaviors. Polls and consumer-confidence indices show an economic pessimism as grim as when millions lost jobs in the pandemic shutdown. This is, in large part, because disinformation has prevailed. Partisanship long colored economic views, but now Republicans, in addition to occupying a parallel political reality, are expanding an alternate economic universe.
“America’s economy improved more in Joe Biden’s first 12 months than any president during the past 50 years notwithstanding the contrary media narrative contributing to dour public opinion,” Matthew Winkler, former editor in chief of Bloomberg News, wrote last week.
Among the gains: The economy expanded an estimated 5.5 percent in 2021 (fourth-quarter growth dramatically outpaced Europe and even China). Unemployment plunged to 4.2 percent. Record-setting U.S. stock markets (the S&P 500 is up nearly 30 percent) outperformed the world. Productivity jumped. Corporate profits are the largest since 1950 and corporate debt the lowest in 30. Consumer credit expanded. Confidence among CEOs is the highest in 20 years. The American Rescue Plan cut child poverty in half.​
“The force of the American expansion is also inducing overseas companies to invest in the U.S., betting that the growth is still accelerating and will outpace other major economies,” added the Wall Street Journal.​
The fly in the ointment is inflation estimated at 5.6 percent for the year — the highest in 40 years — which is suppressing disposable income. This causes real pain for consumers, particularly low-income Americans buying groceries and gas and anybody buying a car. But studies show that, among the lowest earners, wage gains outpaced inflation. Also, inflation is less than half what it was 40 years ago, and, unlike then, today’s bond yields signal investors don’t expect inflation to worsen. Forty years ago, stagnant growth combined with inflation to cause “stagflation.” Now the economy is roaring.
Yet a Gallup poll out last week found that “Americans’ confidence in the economy has dropped to where it was in April 2020, when nationwide shutdowns brought on by the covid-19 pandemic plunged the nation into a recession.”
The reason is clear. As The Post’s Philip Bump explained, Republicans in April 2020 were evenly split on whether the economy was in excellent/good condition or fair/poor. Now, despite dramatic improvements, 91 percent of Republicans say the economy is in fair/poor condition. (The Democratic shift, in the opposite direction, was smaller.)
This happened — surprise! — during Fox News’s hysterical coverage of inflation, gas prices and supply chain problems. It invoked inflation roughly twice as often as CNN and MSNBC. Now, as Bump reported, three-quarters of Republicans say prices are the most important measure of the economy’s health (only one-quarter did a year ago), eclipsing unemployment, personal finances and the stock market.
In post-truth America, the economy is just another target for fakery.​
Opinion by Dana Milbank
Dana Milbank is an opinion columnist for The Washington Post. He sketches the foolish, the fallacious and the felonious in politics.
You sound like a leftist democrat who simply cannot help but believe the economy is going gangbusters under Biden in spite of skyrocketing fuel costs and inflation.
 

TomO

Get used to it.
Hall of Fame
Right?....I wonder how well this tripe is going to age as we progress into the coming year.

I mean, I know what my numbers are telling me, I know what my industries numbers are telling me...

But obviously our Legacy Media and it's Journalistic Curs know better. :rolleyes:
 

annabenedetti

Well-known member
You sound like a leftist democrat who simply cannot help but believe the economy is going gangbusters under Biden in spite of skyrocketing fuel costs and inflation.

You sound like a right-winger who's desperate for President Biden to fail because you don't care about the well-being of the country in which the majority of people don't agree with you. As long as he fails, it's a win for you, people die, it's a win for you, people have rights you don't want to give them - you'll work until they don't have them, so it's a win for you.
 

marke

Well-known member
You sound like a right-winger who's desperate for President Biden to fail because you don't care about the well-being of the country in which the majority of people don't agree with you. As long as he fails, it's a win for you, people die, it's a win for you, people have rights you don't want to give them - you'll work until they don't have them, so it's a win for you.
I am not a democrat fighting for the party over the rights of all Americans and I am not a republican wanting republicans to do well and democrats to fail. I would like to see all politicians put God and right above politics, which, sadly, is rare nowadays.
 
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