INFLATION IS OUR FRIEND

morekaos said:
Welcome back Jimmy Carter/Biden...

Back to the Seventies?

AMBRIDGE ? With the United States? disastrous exit from Afghanistan, the parallels between the 2020s and the 1970s just keep growing. Has a sustained period of high inflation just become much more likely? Until recently, I would have said the odds were clearly against it. Now, I am not so sure, especially looking ahead a few years.

Many economists seem to view inflation as a purely technocratic problem, and most central bankers would like to believe that. In fact, the roots of sustained inflation mainly stem from political economy problems, and here the long list of similarities between the 1970s and today is unsettling

The global economy suffered a massive supply shock in the 1970s, as Middle East countries massively hiked the price of oil they charged the rest of the world. Today, protectionism and a retreat from global supply chains constitutes an equally consequential negative supply shock.

Finally, in the late 1960s and 1970s, huge increases in government spending were not matched by higher taxes on the wealthy. The spending increases stemmed in part from US President Lyndon B. Johnson?s ?Great Society? programs in the 1960s, later amplified by the soaring cost of the Vietnam War. First Johnson and then Nixon were reluctant to raise taxes to pay for these costs, fearing a loss of political support. In recent years, first the Trump tax cuts, then pandemic-related catastrophe relief, and now progressive plans to expand the social safety net have hit the federal budget hard. Plans to fund these costs by raising taxes only on the rich will likely fall far short.

https://www.project-syndicate.org/c...-stagflation-threat-by-kenneth-rogoff-2021-08
Click to expand...
I pointed this out years ago….🤷🏽‍♂️ heck, we even have radical Muslims holding American hostages in the Middle East again.

Joe Biden is Jimmy Carter 2.0​

Watching Biden draw unintended but altogether feeble comparisons between himself, and failed President Jimmy Carter, gives me no satisfaction. It offered only dread as if the best course of action would be to pull the covers back over our heads and hide from the world. But we can’t.

At least when Carter was exposing himself to the world as a weak man, when his name became a joke synonymous with feebleness, when the Americans were taken hostage in Iran. Carter only cemented the notion he was a weakling when he literally panicked and feared he was being threatened by a rabbit near a fishing hole.

Yet even through that, as inflation tore through our wallets and our savings, as Iran burned our flag, as our hostages waited helplessly because the president was so seemingly powerless, the Democrats were behind him and we called him president.

johnkassnews.com

Joe Biden is Jimmy Carter 2.0 - John Kass

By John Kass Oct 22, 2023 When his White House handlers lead the rheumy-eyed old man forward to speak on the critical issues like the beginning of possible World War, what do you do? Do you lean forward, eager to pay attention to his words? If you’re like me, you cringe and worry for America and...
johnkassnews.com
 
Last edited:
A large contributor to inflation is the supply of money in circulation. One of the largest additions to the supply of money comes from our very own federal government's deficit spending. Whether intentional or not, due to the way they accounted for the student loan debt forgiveness expenditures in the prior year and reversed it this year, the headline budget deficit looks like it went from $1.4T to 1.7T, a not insignificant 21% increase.

Put another way:

Prior year
$1.1T preliminary budget deficit
$300B student loan debt forgiveness expense
————
$1.4T headline budget deficit

Then the supreme court struck down the SL forgiveness

Current year
$2T preliminary budget deficit
-$300B blocked prior year student loan forgiveness expense (struck down by the supreme court)
————
$1.7T headline budget deficit


Had the student loan debt forgiveness & subsequent reversal not been included in either year, we would be looking at a prior year deficit of 1.1T to 2.0T, an 82% increase.

Increasing government spending by $900B, or 82%, in just one year, well, that's going to be inflationary.
 
Shocking but seasonally timed…🎄😂😂

‘Home Alone’ Fans Shocked by ‘248 Percent Increase’ in Grocery Prices Since Movie Debuted, as Bidenflation Crushes Family Holiday Budgets​

In the 1990 film Home Alone, actor Macaulay Culkin’s character Kevin McCallister went to a grocery store to buy milk, bread, toilet paper, laundry detergent, fabric softener, cling wrap, macaroni and cheese, a turkey TV dinner, orange juice, and a bag of plastic Army men.

The total cost of McCallister’s trip to the store cost him $19.83.
Recently, Nick Smith with NewsNation ran a testof Rochelle’s experiment at a local Chicago grocery store called Happy Foods. The total cost of Culkin’s Home Alone character’s items in Chicago came out to $72.28, after tax.

nypost.com

‘Home Alone’ fans react to how much Kevin’s supermarket trip would be in 2023

Between inflation and the astronomical rise in the cost of living, many of us are now left wondering: “What would Kevin’s grocery bill come to today?”
nypost.com nypost.com
 
jeez, FAKE NEWS

if you actually look at the article, it says:
Our subtotal was $47.52, $50.20 with tax. Add the bag of Army men we ordered from Amazon and we gave a total of $57.27. That’s not too far off how the U.S. Inflation Calculator has tracked price increases over the last 30 years.

your headline was for in downtown Chicago, no the suburbs where the original purchase pricing was done.

morekaos said:
Shocking but seasonally timed…🎄😂😂

‘Home Alone’ Fans Shocked by ‘248 Percent Increase’ in Grocery Prices Since Movie Debuted, as Bidenflation Crushes Family Holiday Budgets​

In the 1990 film Home Alone, actor Macaulay Culkin’s character Kevin McCallister went to a grocery store to buy milk, bread, toilet paper, laundry detergent, fabric softener, cling wrap, macaroni and cheese, a turkey TV dinner, orange juice, and a bag of plastic Army men.

The total cost of McCallister’s trip to the store cost him $19.83.
Recently, Nick Smith with NewsNation ran a testof Rochelle’s experiment at a local Chicago grocery store called Happy Foods. The total cost of Culkin’s Home Alone character’s items in Chicago came out to $72.28, after tax.

nypost.com

‘Home Alone’ fans react to how much Kevin’s supermarket trip would be in 2023

Between inflation and the astronomical rise in the cost of living, many of us are now left wondering: “What would Kevin’s grocery bill come to today?”
nypost.com nypost.com
Click to expand...
 
The worst part is the comparison from just last year is up over 60%…no matter where you buy it or how you slice it….🤦🏽‍♂️😡😡😡

Last year, TikTok user Rochelle Chalmers purchased the same goods at a Kroger grocery store for $44.40, an increase of 123.9 percent. And this year, TikTok user Geoffrey Lyons did likewise in a video viewed 4.3 million times. His total was $69.99.

Also this year, NewsNation, an all-news cable network reaching about 80 million homes, ran the same exercise at a store in Rockford, Illinois, about 90 miles from Chicago, and it came to $57.27 (though it had to go to Amazon to purchase the Army men).

It also ran the numbers at a Chicago store and it came to $72.28, an increase of 264.5 percent over what Kevin paid in 1990.
 
stupid policy isn’t just stupid. It really affects peoples lives….😡😡🦄🌈
California's Restaurants Struggle to Stay Afloat Following the $20 Minimum Wage Increase
However, many business owners in the state are worrying about how they are going to pay for these forced wage hikes, with some threatening to cut worker hours or raise menu prices to compensate.
 
People have limits as to what they are willing to pay for restaurant food. As we all know, politicians generally are not business people and cater to buying votes. Idiots.
 
This wage hasn't even taken effect yet, but we've pretty much already thrown in the towel. We tend to avoid fast food burger joints in general, but recently my wife was out with friends and my daughter easily twisted my arm to getting McD's for dinner. A medium #3 combo was $11. The family restaurant near our house is not directly affected by this law. They are currently on near-equal footing with fast food with their pricing, and their taste/quality is just worlds better. They've been outright stealing our dining dollars away from our usual fast casual haunts, and we're not exactly price-sensitive consumers in general.

The current trajectory of things has me second-guessing our plans to retire here...even though we love our house and our neighborhood.
 
Looks like the price is 9.89 for the combo #3 in Salt Lake City, where minimum wage is federal.

So the high prices are going to corporate/franchisee profits, not to the minimum wage workers due to increased labor costs.
 
You know there is some funny business going on when the McD's at John Wayne has the same prices as the McD's in and around Irvine.
 
Burgers matter…the blame is clear and the public know it…😂😂🤷🏽‍♂️🦄🌈

How an $18 Big Mac meal became a symbol for economic anxiety — and what that means for Democrats

Conservative commentators have started to link Big Macs and "Bidenflation"

that $18 Big Mac meal has become both a symbol of consumer anxiety — as well as an unexpected economic flashpoint with which Democrats will have to contend in the upcoming election cycle.

It’s not just McDonald’s, of course. Fast food menu prices across the industry rose consistently throughout the pandemic. As reported by CNET, data from Pricelisto, a website that tracks menu prices for United States fast food chains, shows that menu prices were up about 13% from 2021 to 2022. Wendy’s and Chick-fil-A were both on the higher end of price increases, with a respective 35% and 15.6% increase over the previous year’s prices.

https://www.salon.com/2024/02/19/ho...c-anxiety--and-what-that-means-for-democrats/
 
freedomcm said:
So the high prices are going to corporate/franchisee profits, not to the minimum wage workers due to increased labor costs.
Click to expand...
When has this ever not been the case? Businesses charge the prices they believe will lead to maximum profitability.
 
this president and his party, through policy ($20 minimum wages) and regulation (labor union power and restrictive laws) has created, enormous inflation pressure on the overall economy, and on burgers in particular but they are so stupid and clueless that they don’t even realize all the damage that they’ve rought😢😡😡😡🦄🌈💩
 
Last edited:
morekaos said:
this president and his party, through policy ($20 minimum wages) and regulation (labor union power and restrictive laws) has created, enormous inflation pressure on the overall economy, and on burgers in particular😢😡😡😡🦄🌈💩
Click to expand...
Exactly. Just because business owners will always try to maximize profitability, it doesn't negate the influence that elected officials have on businesses and their workers, which creates price increases if the government policies are foolish.
 
Perspective and Ignorance is rife in this administration…Havoc when morons and idealists with no basic business understanding are running the biggest economy on earth….🙄😡😡🦄🌈💩

Biden’s Hiring Policy: No Business Experience Needed

Senior Administration officials have spent little time in the private economy.

A troubling trend in the Democratic Party in recent years is its increasing detachment from the private economy. That’s shown itself in the Biden Administration’s economic management, and one reason may be that few of its officials have experience in private business.

“Average business experience of Biden appointees is only 2.4 years,” the authors found. Any fresh-faced 25-year-old on Wall Street has clocked more private business hours than most of Washington’s top officials. Sixty-two percent have “virtually no business experience.” By contrast, the average Donald Trump cabinet official had 13 years of experience in the private economy, the authors say.

https://www.wsj.com/articles/no-bus...ttee-to-unleash-prosperity-report-11657661328
 
aquabliss said:
Just here to confirm Costco Hot Dog and Soda is still $1.50. I bet they have weekly board meetings about this. Of course Costco CEO has had his life threatened if he ever increased the price.
https://www.delish.com/food-news/a34111722/costco-hot-dog-combo-story/
Click to expand...
Smart operators run companies that people will continue to support…know your clientele and they wi8ll patronize you forever. (unlike the auto companies)😂😂👍🏽🇺🇸

A top Costco executive just gave an update on the fate of the $1.50 hot dog and soda combo

Galanti on Friday retired after 40 years as one of the wholesale retailer’s top executives. In an interview with Bloomberg, he addressed the fate of the famous frank whose career will now outlive his own.

Asked if anything would happen to the iconic combo once he was gone, Galanti had a succinct response.

“It’s probably safe for a while,” he said.

www.cnbc.com

A top Costco executive just gave an update on the fate of the $1.50 hot dog and soda combo

Richard Galanti and the $1.50 combo have both been with Costco since 1985.
www.cnbc.com www.cnbc.com
 
You must log in or register to reply here.
Back
Top