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Thank you. I'm glad I'm not the only one who is outraged about this. This has little if not zero to with Russia and more about the current administration's horr

Thank you. I'm glad I'm not the only one who is outraged about this. This has little if not zero to with Russia and more about the current administration's horrific economic and fiscal policies. Just last week they extended the delay on student loan debt repayment? Why in heck? That leaves more money in people's pockets to go out and buy and spend. Let's stop with this Covid charade of outlandish government spending on programs that we don't need. In reality Covid is a prop to push through liberal fiscal policies. Another example; the current administration pushing hard for Union's at Amazon and Tesla. Once again, rising wages is not the policy that helps reduce inflation. It's literally econ 101; "to make up for the increase in cost, companies must charge more for their goods and services to maintain the same level of profitability."

Bud 4y ago
Which "horrific" economic and fiscal policies, specifically, do you assert are responsible for the current inflation? Please cite specifics, with sources. As an aside, your assertion about covid is utterly ludicrous.
- deleted 4y ago
  [deleted]
- nodesocket 4y ago
  Besides the student loan payment delay, pushing for higher wages, and unionizing, which I already cited I’ll leave a few big ones. Starting with the first calamity. Biden’s American Rescue Plan. $1.9 trillion dollars completely unneeded, only done for political reasons. In the name of Covid, pushed through absurd welfare programs. It’s like cashing in $5 chips at the casino for $100 loses down the line. Enacting regulation to limit US production of oil and stopping the keystone pipeline. Under Trump the united states was energy independent and also for the first time in 75 years a net exporter or oil. Thank god Biden’s build back better plan is being held up. Another outrageous case of spending that will throw gasoline onto the raging fire. Perhaps would be the last nail in the coffin.
  - Bud 4y ago
    No part of this is even close to the target. The assertion that a temporary delay in student loan repayments during a pandemic is causing inflation is particularly hilarious, but the unionization complaint is perhaps even more hilarious. There has been barely any movement in actual unionization, and that which has occurred has had nothing, repeat nothing, to do with the Biden Administration, and nothing, nothing at all to do with inflation. You're also hilariously wrong about oil and energy issues; the US is still producing more oil, right now, than the average year during the Trump Administration, and is still a net exporter of energy. Nothing has changed on that score. As for the ARP, a lot of that money was for emergency economic needs created by the pandemic. Ask the people who benefitted from it whether it was "completely unneeded"; that's a joke. BTW, the ARP was supported by 60% of Republicans. Look it up.
    - nodesocket 4y ago
      > The assertion that a temporary delay in student loan repayments during a pandemic is causing inflation is particularly hilarious Ok, you seem to be a good word smith. Let's break this down with some common sense. If you don't have to pay the monthly student loan note, that leaves more money in your pocket right? That means you're likely to go out and spend that extra money that should have been allocated for the student loan on goods and services. Hense buying goods and services leads to further inflation. Cash will only lose value, so it is better to get your shopping out of the way and stock up on things that probably won't lose value. This is fairly straightforward and common sense. > but the unionization complaint is perhaps even more hilarious Once again. What do union's for the most part do? Bargaining representative during negotiations related to wages and salary. What do higher wages do? Cause inflation... Fact! Businesses pass that cost onto the consumer. Once again econ 101 stuff here. > You're also hilariously wrong about oil and energy issues; the US is still producing more oil, right now, than the average year during the Trump Administration, and is still a net exporter of energy. This topic is a bit harder as data seems to be mixed, but I did find an article that quoted. Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday.
- Consultant32452 4y ago
  Not OP, but I would say there's two major causes for inflation at the moment. One is the extended period of 0% fed rate coupled with ludicrous spending. Most of that happened under the previous administration and was largely bipartisan. This administration still has insanely low fed funds rate and is still spending like crazy. Please don't bother explaining how the federal reserve works, the buck stops at whoever appoints them and/or gives them power. The second is continually escalating sanctions against one of the world's biggest energy and food exporters. This also started under the previous administration and was expanded during this administration. Again, bipartisan. The administration(s) paint pictures of oligarchs losing yachts when they talk about sanctions. They conspicuously neglect to mention food rationing in Spain, food riots in Peru and Sri Lanka, and the looming famine crisis when the crops that should be getting planted now don't get planted because there's no fertilizer. So in 3-8 months when those crops should be getting harvested, it's going to be bad and food inflation is going to be much worse and many, many poor people are going to starve.
quickthrowman 4y ago
> Just last week they extended the delay on student loan debt repayment? Why in heck? Because there’s an election in November.

Bud 4y ago

Which "horrific" economic and fiscal policies, specifically, do you assert are responsible for the current inflation? Please cite specifics, with sources. As an aside, your assertion about covid is utterly ludicrous.

deleted 4y ago
[deleted]
nodesocket 4y ago
Besides the student loan payment delay, pushing for higher wages, and unionizing, which I already cited I’ll leave a few big ones. Starting with the first calamity. Biden’s American Rescue Plan. $1.9 trillion dollars completely unneeded, only done for political reasons. In the name of Covid, pushed through absurd welfare programs. It’s like cashing in $5 chips at the casino for $100 loses down the line. Enacting regulation to limit US production of oil and stopping the keystone pipeline. Under Trump the united states was energy independent and also for the first time in 75 years a net exporter or oil. Thank god Biden’s build back better plan is being held up. Another outrageous case of spending that will throw gasoline onto the raging fire. Perhaps would be the last nail in the coffin.
- Bud 4y ago
  No part of this is even close to the target. The assertion that a temporary delay in student loan repayments during a pandemic is causing inflation is particularly hilarious, but the unionization complaint is perhaps even more hilarious. There has been barely any movement in actual unionization, and that which has occurred has had nothing, repeat nothing, to do with the Biden Administration, and nothing, nothing at all to do with inflation. You're also hilariously wrong about oil and energy issues; the US is still producing more oil, right now, than the average year during the Trump Administration, and is still a net exporter of energy. Nothing has changed on that score. As for the ARP, a lot of that money was for emergency economic needs created by the pandemic. Ask the people who benefitted from it whether it was "completely unneeded"; that's a joke. BTW, the ARP was supported by 60% of Republicans. Look it up.
  - nodesocket 4y ago
    > The assertion that a temporary delay in student loan repayments during a pandemic is causing inflation is particularly hilarious Ok, you seem to be a good word smith. Let's break this down with some common sense. If you don't have to pay the monthly student loan note, that leaves more money in your pocket right? That means you're likely to go out and spend that extra money that should have been allocated for the student loan on goods and services. Hense buying goods and services leads to further inflation. Cash will only lose value, so it is better to get your shopping out of the way and stock up on things that probably won't lose value. This is fairly straightforward and common sense. > but the unionization complaint is perhaps even more hilarious Once again. What do union's for the most part do? Bargaining representative during negotiations related to wages and salary. What do higher wages do? Cause inflation... Fact! Businesses pass that cost onto the consumer. Once again econ 101 stuff here. > You're also hilariously wrong about oil and energy issues; the US is still producing more oil, right now, than the average year during the Trump Administration, and is still a net exporter of energy. This topic is a bit harder as data seems to be mixed, but I did find an article that quoted. Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday.
Consultant32452 4y ago
Not OP, but I would say there's two major causes for inflation at the moment. One is the extended period of 0% fed rate coupled with ludicrous spending. Most of that happened under the previous administration and was largely bipartisan. This administration still has insanely low fed funds rate and is still spending like crazy. Please don't bother explaining how the federal reserve works, the buck stops at whoever appoints them and/or gives them power. The second is continually escalating sanctions against one of the world's biggest energy and food exporters. This also started under the previous administration and was expanded during this administration. Again, bipartisan. The administration(s) paint pictures of oligarchs losing yachts when they talk about sanctions. They conspicuously neglect to mention food rationing in Spain, food riots in Peru and Sri Lanka, and the looming famine crisis when the crops that should be getting planted now don't get planted because there's no fertilizer. So in 3-8 months when those crops should be getting harvested, it's going to be bad and food inflation is going to be much worse and many, many poor people are going to starve.

quickthrowman 4y ago

> Just last week they extended the delay on student loan debt repayment? Why in heck? Because there’s an election in November.