I don’t particularly like this idea either, but I’m not sure what the alternative is. I cannot see how anyone can tell Americans that they have that kind of responsibility to people from around the world.
That was not a yes/no inquiry.
And definitely not one that could be answered in 30 sec.
So its like this (made up numbers for illustrative purposes)
2021- 7.x % inflation
2022- 5.x % inflation
2023 6.x % inflation
2024 ytd 5.x % inflation
Current spot check on rate of increase- 2.x increase.
That doesnt ameliorate any previous increases. It just means its not going up as fast.
I agree with you, but outside of stating the numbers and that low inflation doesn’t decrease prices (which again we agree on) I’m not sure you are trying to make any other point I can engage with outside of speculating what that point would be.
Perhaps I’m just not seeing it though.
Biden kept the trump tariffs in place…moot point
Mass deportations of illegal criminals needs to happen
Dont forget inflation was 1.4% when trump left office
killing the energy sector and overregulation of businesses by biden along with enormous government spending were the main causes of inflation to go over 9%
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Agreed on both points generally speaking.
But adding a generic 20-1,000% tariff on imported goods is not something I think is going to bring prices down or be good for the economy as a whole
Agree with you on tariffs
They should be used as a bargaining tool to even out the trade agreements
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I always find it worthwhile to read my Heather Cox Richardson. She is, in my opinion, the best the left has right now. Below is the soothing tale she told her readers.
She’s also extremely dishonest and goes through a series of unimpressive (to me) mental gymnastics to arrive at her preposterous conclusions.
Still, she’s a smart gal who knows exactly what she’s doing, and people love her. She is one of the High Priestesses. Progressive royalty.
I’m not sure she’s spoken to someone who has disagreed with her in years. She seems absolutely in love with the smell of her own farts and completely unable to process the world outside of her religious framework.
She knows when she’s making leaps, but I think she justifies it because she believes in the religion. The greater good. Cosmic justice.
The energy sector is producing more than ever, even more than under trump
And as for spending, shouldn’t the guy who spent the most be more on the hook for blame? Trump and Biden: The National Debt-Mon, 06/24/2024 - 12:00 | Committee for a Responsible Federal Budget
Trump outspent Biden by like 4T, he went into more debt than any president in history and CUT TAXES while he was doing it. Slashed revenue while increasing spending, not a great combination
My point is that an optimistc outlook based on a very narrow window is an incomplete picture if you want to judge the performance of an administration based on a given metric.
It would then be inaccurate to extend that optimism to forecast that the next admin will inherit a gangbuster economy that will make them look great.
We would have to see significant negative (deflation) to actually get prices of goods back down to what they would be if their 4 year sum total were anywhere near anything considered average- like 2.2, year to year.
Otherwise, as it stands, we will be paying more for goods as a result of the inflation that has already taken place.
The 2.1 or 2.2 is still on top of the 20 something percent that accumulated over the last several years.
I’m decently active politically - and as you can probably guess from our discussion lean left - and have literally never heard of her. I don’t think she holds the regard you think she does
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I don’t expect most people to have a clue how electric utilities approach future power generation. The politics were heading strongly against carbon emissions. Utilities need to plan10 to 20 years ahead. Carbon credits were tossed around. Most all utilities planned to phase out coal. This was the talk in the early 2000’s. Coal had only one future and that was known for the last 20 years.
Well, she lives in Maine and she’s definitely royalty here. She was just palling it up with our Governor.
She’s been on the usual rounds of shows as an “expert historian” who knows how to disparage Republicans. If there’s a better opinion writer you’d recommend, I’m all ears.
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That’s why I gave a laundry list of things that will appear good in the economy in a years time, not just the single item you picked out
While it’s possible for a single item or small group of items to drop in price, For prices to go down overall you need economic deflation, and Deflation is extremely tricky and tends to lead to a spiral of lost economic activity very easily which is why no one tries to achieve it.
Are you expecting trump to deflate the economy ?
Trump spent 6.5 trillion…which is reckless i agree
Biden has spent 7.9 trillion so far
Trump had us at energy independence
Biden used up all of our reserves, therefore has to replenish
I only picked a single point because I didn’t want to belabor the entire post.
Thats increased interest rates job.
It does need to deflate, and it is going to hurt, to paraphrase Ben Bernanke.
Increasing interest reduces loans and money in circulation by resorbing it to decrease both the velocity and volume of money flowing. It also incentivises investment in interest based financial instruments.
This increases the buying power of the dollar, by way of there being less of them.
The problem, as I see it, is that federal spending- printing more money and flushing it back in to the economy by way of monthly support of 20 million illegals on top of the previous load incurred by our social safety net- is hard, Very Hard to stem the tide of.
That’s a fair take. Perhaps his thoughts were deregulation/diminishing renewable subsidies would drive coal, but yeah that didn’t occur and anyone in the industry should’ve seen it coming. Expectations weren’t well managed.
This is a tricky one. I hate to use the cliche of things are doing well in spite not because of, but it’s true.
Couple things to unpack here. The largest being that bad energy policies in the western world concentrated the areas that could/were willing to produce. There has been no decrease in oil and gas demand, it’s only increasing and with fewer players breakeven prices have been buoyed to a consistent $70-80/west Texas intermediate barrel.
The majority of US production is in Texas, which has very little Federal land and has captured market share from other production fields in the US.
Over regulation has driven a spring of M&A’s because smaller independents A) have a harder time securing financing and B) can’t handle the burdensome regulatory environment as well as the supermajors. It’s, once again, further consolidated producers.
Another aspect is there have been HUGE leaps in efficiency of well production in just the last couple of years. Machine learning, well restimulation technology, and better mapping have created a second tech revolution in the fields.
Biden’s incoherent policies have risen barriers to entry, and wells are one thing, but pipeline construction, export terminals, or anything that requires federal permitting - even CO2 sequestration, has a giant thumb placed on it.
EDIT WTI hovered 70-80, not breakeven price
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I do not expect prices to come down…IMHO, prices are set its been too long now
Maybe gas prices due to becoming energy independent again
interest rates will come down, but never again to zero
the difference i see is spending power but the consumer will be greater
i also see government agencies being overhauled or cut all together…kind of like an audit and streamlining
but, only time will tell
Quite honestly it sounds like you know a great deal more about it than me, I defer to your knowledge on it and have nothing to add or rebut. Thanks for the reply
I am with you on that one, lol