How?
Inflation has spiraled out of control for four reasons:
1.) The COVID lockdowns which screwed up the global supply chain which has never been the same since.
2.) Joe Biden’s poor relationship with MBS who he labeled murderer on the campaign trail. Gas prices were already high before the war in Ukraine because of this and have spiked again because the Saudis are cutting production.
3.) Joe Biden’s blowout spending in the COVID relief bill which ignited inflation. Democrats were only stopped from spending several trillion more on Biden’s policy agenda by Manchin and Sinema. Kyle Kulinski wanted to spend around $10 trillion dollars on new government programs.
4.) The war in Ukraine which was caused by Joe Biden’s foreign policy which has sent commodity prices soaring.
Biden is still grieving because his son was killed in Iraq when he died 6 years later at home from brain cancer.
https://twitter.com/i/status/1580315228918513664
This is a perfect example of why “Democracy™?“ is retarded
We’re a …….. REPUBLIC !
It’s retarded when the illiterate are allowed to vote.
US and UK have Africans providing economic advice, the results are what one would expect.
Dementia Joe is correct here, inflation will be worse under the Republicans. What he didn’t say is that inflation will be worse under the Democrats, too. The inflation genie is long out of the bottle now. The last real chance to fix inflation was in the 1990’s when Clinton was Mr. President.
With the collapse of the USSR there could have been a real peace dividend by cutting defense spending and U.S. military commitments such as NATO. Pres. Clinton could also have attacked big business for monopoly practices and ordered his AG and SEC to investigate and prosecute Wall Street abuses such as insider trading, price fixing, collusion and bribery. Normally the Republicans are Wall Street’s lapdogs much more than Democrats so this would have made sense politically.
Instead, Big Bill just went whoring all the time while his Dragon Lady schemed to become Mr. President in a future election. The U.S. Government kept spending itself into oblivion while meddling in places like the Balkans and the Near East creating future problems to add to the mountain of existing problems. Big Bill, after suitable bribes were paid endorsed even more egregious conduct from Wall Street such as by repealing Depression era legislation like Glass Steagall which had limited the thievery on Wall Street.
Instead, everything got worse but mostly after Big Bill was out of office and busy diddling little girls with his friends, Bill Gates and Herr Epstein. GWB II, dumb as a stump, drove the country down even faster resulting in the 2008 financial debacle followed by BHO’s presidency. Trump turned out to be mostly a blowhard, piling up unpayable debt while getting stabbed in the back by Our Greatest Ally.
It looks like it’s time to pay the piper now as financial markets unravel while a crisis in Ukraine, caused by BHO’s boy, Victoria Nuland, spins out of control. There were many opportunities to fix things but a government of scumbags is only interested in enriching itself, the future be damned. That’s known as Democracy on Parade.
Agreed. Good post
Ordinarily you’d stop high inflation by raising interest rates.
“Ordinarily you’d stop high inflation by raising interest rates.”
I think the economy is too brittle, too much debt , for that.
4.00% seems to be a magic number on interest rates. Above that and the stock market declines requiring the Plunge Protection Team from the U.S. Government to buy stocks and futures to keep it from collapsing entirely. Bonds start repricing at %4.00 such that as they decline in price margin calls go out for more good collateral that simply doesn’t exist.
Perpetually USD indebted Third World shitholes like Pakistan and Ceylon can no longer service their debts resulting in cutoffs of essentials like food, fertilizer and oil to generate electricity. Political instability rapidly follows, an especially dangerous thing in places like Pakistan with its nuclear arsenal and bitter hatred of nuclear armed India right next door. Mortgage rates also rise, killing off the housing market where most people in the U.S. have their wealth invested making for a very angry populous and many defaulted mortgages.
With official (and dishonest) inflation at 8.10% interest rates would have to rise to approx. 11.00% to compensate bond investors. Obviously that is impossible as 4.00% interest rates are already unsustainable and insufficient to choke off inflation either. The geniuses in charge know this and simply hope they can delay the inevitable crack up until someone else, anyone else is available to take the blame for the disaster.
The U.S. Government is all bollixed up again, this time with its corrupt financial system. It has to raise interest rates to at least 11.00% to stop inflation and reduce interest rates to 0.00% to make debts payable and prevent financial collapse at the same time. That is their dilemma in a nutshell. Good luck with that one.
@12AX7
“It looks like it’s time to pay the piper”
I think this is the master plan.
Jwz lure victims into a debt trap, leading to bankruptcy, then take control.
They’ve done this over and over, in spain, in italy, in England , in poland etc.
This is a reason for their Being expelled , again and again.
@ Meme,
Democracy is a Jonestown suicide pact.
@12AX7,
Clinton repealed Glass-Steagall and the Bankster Banana Republic was etched in stone.
Another aspect of the crisis is Biden gov’s limitations on gas and oil drilling, retarding pipelines from Canada and all the rest … Europe likewise has huge gas fields but tapping them is illegal
These things require long-term policy, as private companies only invest if they feel certain of not being banned, prohibited, over-taxed etc in the future
And then there’s nuclear power, with apparently much less riskier kinds of nuclear power (thorium) and so on proven available, not being pursued … De Gaulle’s 1960s mass of nuclear power plants for France turned out to be political wisdom of the highest level
A while back there was all that talk from people like Pastor Lindsey Williams who had worked with Alaskan oil field workers, saying the whole ‘oil supply’ crisis is fake, there is plenty of oil, establishment is just ‘managing’ it for profit and political agendas
Russians are apparently themselves big on the idea oil is ‘abiotic’, not a ‘fossil fuel’ from decomposed dinosaurs etc, but something the earth just produces, always more if you drill deep enough
” nuclear power, with apparently much less riskier kinds of nuclear power (thorium) and so on proven available, not being pursued”
Zog allies destroyed the german developers, our nuclear development has been stagnant sincee 1945.
F oil, we should be running on synthetic ammonia.