3 ms·

Do you have a source on that breakdown?

DwnVoteHoneyPot 4y ago
Sure. 1) Consumer debt: https://fred.stlouisfed.org/series/CCLACBW027SBOG https://fred.stlouisfed.org/series/CCLACBW027SBOG 2) Labor participation: https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART 3) Inflation rate (look at 5 year): https://tradingeconomics.com/united-states/inflation-cpi https://tradingeconomics.com/united-states/inflation-cpi
- lovich 4y ago
  Do you have any charts that are specific to a population receiving welfare vs non welfare recipients rather than the general population? Also one that accounts for the fairly significant confounding variable that was the covid pandemic?
  - random314 4y ago
    Of course, he doesn't. Its bogus right wing propaganda. As if inflation can be blamed on an extra couple of thousands of dollars.
    - lovich 4y ago
      Trying to stay within hn guidelines here
    - Test0129 4y ago
      I do appreciate how you're lambasting someone for providing sources by commenting on how a guy won't provide...more sources. Incredible. Yeah... "just an extra couple thousands dollars". The government pumped in excess of 4 trillion dollars into the market going directly to people [0]. Only 20% of these people spent their second and third check on necessary expenses [1]. So by grade school mathematics 80% of the money was spent on non-necessities. You don't honestly believe this didn't contribute to inflation? YOLOing money via robinhood, buying electronics, car payments (0% APR loans were everywhere and flying off the shelves), trips, etc. This all contributes to inflation by pumping more money into the system. These people didn't save their money. They spent it like it was going out of style. The result of an overheated economy is...inflation. Then you pair this with supply constraints induced by government incompetence, large amounts of money printed to buy back treasuries and bail out banks, etc. In total, there is so much extra money in the system we are probably going to see inflation for a while. I live in a low COL area and my grocery bill has gone up almost 100%. My friends in California have seen that much or more. Gas prices have just tripled in my area. "bogus right wing propaganda" is the ultimate cop-out to such an important issue. Burying your head in the sand and blaming your favorite boogeyman isn't going to make your grocery bill cheaper. Sources added because LMGTFY: [0] https://www.nytimes.com/2021/11/24/magazine/pandemic-aid.html https://www.nytimes.com/2021/11/24/magazine/pandemic-aid.htm... [1] https://www.forbes.com/sites/zackfriedman/2021/06/01/heres-how-americans-spent-their-stimulus-checks/ https://www.forbes.com/sites/zackfriedman/2021/06/01/heres-h...
- duxup 4y ago
  Did everyone counted there get some sort of UBI?

Sure. 1) Consumer debt: https://fred.stlouisfed.org/series/CCLACBW027SBOG https://fred.stlouisfed.org/series/CCLACBW027SBOG 2) Labor participation: https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART 3) Inflation rate (look at 5 year): https://tradingeconomics.com/united-states/inflation-cpi https://tradingeconomics.com/united-states/inflation-cpi

lovich 4y ago
Do you have any charts that are specific to a population receiving welfare vs non welfare recipients rather than the general population? Also one that accounts for the fairly significant confounding variable that was the covid pandemic?
- random314 4y ago
  Of course, he doesn't. Its bogus right wing propaganda. As if inflation can be blamed on an extra couple of thousands of dollars.
  - lovich 4y ago
    Trying to stay within hn guidelines here
  - Test0129 4y ago
    I do appreciate how you're lambasting someone for providing sources by commenting on how a guy won't provide...more sources. Incredible. Yeah... "just an extra couple thousands dollars". The government pumped in excess of 4 trillion dollars into the market going directly to people [0]. Only 20% of these people spent their second and third check on necessary expenses [1]. So by grade school mathematics 80% of the money was spent on non-necessities. You don't honestly believe this didn't contribute to inflation? YOLOing money via robinhood, buying electronics, car payments (0% APR loans were everywhere and flying off the shelves), trips, etc. This all contributes to inflation by pumping more money into the system. These people didn't save their money. They spent it like it was going out of style. The result of an overheated economy is...inflation. Then you pair this with supply constraints induced by government incompetence, large amounts of money printed to buy back treasuries and bail out banks, etc. In total, there is so much extra money in the system we are probably going to see inflation for a while. I live in a low COL area and my grocery bill has gone up almost 100%. My friends in California have seen that much or more. Gas prices have just tripled in my area. "bogus right wing propaganda" is the ultimate cop-out to such an important issue. Burying your head in the sand and blaming your favorite boogeyman isn't going to make your grocery bill cheaper. Sources added because LMGTFY: [0] https://www.nytimes.com/2021/11/24/magazine/pandemic-aid.html https://www.nytimes.com/2021/11/24/magazine/pandemic-aid.htm... [1] https://www.forbes.com/sites/zackfriedman/2021/06/01/heres-how-americans-spent-their-stimulus-checks/ https://www.forbes.com/sites/zackfriedman/2021/06/01/heres-h...
duxup 4y ago
Did everyone counted there get some sort of UBI?