https://www.frbsf.org/economic-research/publications/economic-letter/2022/march/why-is-us-inflation-higher-than-in-other-countries/

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Inflation rates in the United States and other developed economies have closely tracked each other historically. Problems with global supply chains and changes in spending patterns due to the COVID-19 pandemic have pushed up inflation worldwide. However, since the first half of 2021, U.S. inflation has increasingly outpaced inflation in other developed countries. Estimates suggest that fiscal support measures designed to counteract the severity of the pandemic's economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021.

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Stoking demand with supply unable to respond added 3% to inflation by the end of 2021.

I find it somewhat dismaying that no one has called Senator Stabenow to task, requesting where, and how often she recharged her batteries on the way from Michigan to DC. And how long it took.

bigeric said:

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I find it somewhat dismaying that no one has called Senator Stabenow to task, requesting where, and how often she recharged her batteries on the way from Michigan to DC. And how long it took.

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She should also be asked if she knew how the power was generated to charge her batteries....

bigeric said:

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I find it somewhat dismaying that no one has called Senator Stabenow to task, requesting where, and how often she recharged her batteries on the way from Michigan to DC. And how long it took.

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That's irrelevant......

It's all about the "Green New Deal.."

"To Seem Rather Than to Be." - Democrats

Where Civ to scream, "See see, it's a Bonsall problem. It's not Biden's fault."

"Manchurian Candidate"

You are all over it! Most of our Federal Govt - at its highest levels - has been captured.

bigeric said:

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caryking said:

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I may post this several times before I'm finished…. BTW, this is absolutely a conspiracy theory!

I believe Biden is a disposable pawn for the radicals in the world. First, he's too old and senile to realize what's going on. Second, Jill was far more enthralled with being the First Lady than realizing her husband wasn't up to the task and maybe too dumb to realize she was being used.

In summary, we as the citizens, in charge, have been duped by some Cabal making decisions to destroy this country!

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You fleshed out my beliefs also.
I posted in another thread some time ago: Joe didn't pick his handlers, they picked him. When the powers that be in the Dem party realized none of those running for the Democrat candidacy could win, they, one by one, started removing each from consideration. Then Joe was presented as the middle of the road who would best Trump in the election. Just had to prevent 'Ole Joe from campaigning, which they did.

As far as Jill is concerned, what if she is complicit in the conspiracy? Joe is a real life "Manchurian Candidate", a doddering old fool who is closely managed (and I believe medicated) and presented publicly as the face of a benign government.

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I've never seen the movie(s)…. Is the Denzel Washington version good?

Quote:

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Inflation expectations for both the short term (see the latest NABE Outlook Survey or University of Michigan one-year inflation expectations) and long term (see either the Survey of Professional Forecasters ten-year projections or the University of Michigan five-year inflation expectations) have recently risen significantly, alongside actual inflation, which is cause for concern.

Macroeconomic theory since the rational-expectations revolution of the 1970s and 1980s (which was developed in part in response to old Keynesian theories being unable to explain the Great Inflation) has posited that inflation expectations are a key driver of sustained inflation that is, inflation expectations are (in a sense) self-fulfilling.

If it's really the case that it's difficult for the Fed to meaningfully move inflation expectations on a tight time frame, inflation could potentially be here to stay longer than we anticipate. After all, it took more than a decade for the Fed to move inflation expectations down to 2 percent after, like most developed-country central banks, it originally adopted inflation targeting in the early 1990s. Prolonged inflation would not be pretty, especially for the poor, who experience higher inflation rates than the average consumer as the Foundation for Research on Equal Opportunity inflation inequality indices show; food and gasoline tend to be a bigger part of their consumption basket than the median-income consumer, and consumption makes up a larger fraction of the poor's income.

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There are some nice graphs in the actual article. See here.

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The Federal Reserve raised its pivotal short-term interest rate by 0.75 percent for the second consecutive month Wednesday in an attempt to curb soaring inflation, which topped out at a whopping 9 percent for the 12-month period ending in June.

The rate hike, which is the largest since 1994, is designed to raise the cost of borrowing across sectors, which is expected to cool off the over-heating economy. The relevant rate, called the fed funds rate, now sits at a range of 2.25 to 2.5 percent, approaching the long-run rate of 2.5 percent at which the central bank's monetary policy is supposed to be neither accommodative nor restrictive.

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bigeric said:

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Never saw the Denzel Washington movie. A note, the brainwashed role was controlled by a foreign government, which would not apply to BIden. I feel the control of Biden is real, and exerted by his handlers, and even Jill. Thus my description of him as a Manchurian candidate.
Witness his "cue card(s)."

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Care to speculate who controls BIden?

On topic, Steve Bannon's WarRoom show. underway now on RAV, is about to discuss the damage to the American economy done by the Federal Reserve.

The FIAT dollar started in 1913 when the Federal Reserve was moved from under the US Dept of Treasury to under the Central Bank of London. We had essentially zero inflation prior to 1913.

From quick internet search:

• $100 in 1913 is equivalent in purchasing power to about $2,993.04 today, an increase of $2,893.04 over 109 years. The dollar had an average inflation rate of 3.17% per year between 1913 and today, producing a cumulative price increase of 2,893.04%.

Wonder where we have seen this before....? when you don't like the facts you change them to fit your narrative...

Doocy: "If things are going so great, why are White House officials are redefining recession?"

Jean-Pierre: "We are not."

Doocy: "It's two consecutive quarters of negative GDP growth... How is that not redefining recession?"

Jean-Pierre: "That's not the definition." pic.twitter.com/eyyvYdZWMj

— Greg Price (@greg_price11) July 27, 2022

And with the spin...... I see where our comrades on here get their abilities from. It must come with their "Introduction to MARXISM" handbooks when they go off to indoctrination school!!

"What is exactly the White House's definition of a recession?"

KARINE JEAN-PIERRE: "I'm not going to define it from here" pic.twitter.com/GNteaetb0V

— RNC Research (@RNCResearch) July 25, 2022

Werewolf said:

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bigeric said:

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Never saw the Denzel Washington movie. A note, the brainwashed role was controlled by a foreign government, which would not apply to BIden. I feel the control of Biden is real, and exerted by his handlers, and even Jill. Thus my description of him as a Manchurian candidate.
Witness his "cue card(s)."

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Care to speculate who controls BIden?

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There is a Chicago cabal of radicals grounded in the methodologies of Saul Alinsky. Includes Hillary, Barack and others, some of who harken back to, and retains the idealogies of, the Weatherman Underground.

How's that for conspiracy theories?

bigeric said:

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Werewolf said:

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bigeric said:

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Never saw the Denzel Washington movie. A note, the brainwashed role was controlled by a foreign government, which would not apply to BIden. I feel the control of Biden is real, and exerted by his handlers, and even Jill. Thus my description of him as a Manchurian candidate.
Witness his "cue card(s)."

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Care to speculate who controls BIden?

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There is a Chicago cabal of radicals grounded in the methodologies of Saul Alinsky. Includes Hillary, Barack and others, some of who harken back to, and retains the idealogies of, the Weatherman Underground.

How's that for conspiracy theories?

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There are no conspiracies, but there are no coincidences...

Listened to a podcast this morning with David Bahnsen. What interested me about his take on this recession is it doesn't have all the normal ingredients.

The first negative number was mainly due to import/export balance in that the slow down in delivery of good to China was a contributor to the negative, and outweighed the positive impact of the increase in export of energy.

Politically, it is a recession, but economically it's a mixed bag. Unemployment is at 3.8%, confidence is still neutral and not negative, businesses are still doing well.

You could make the case that on the merits of their argument, you could give the administration the benefit of the doubt.

HOWEVER

If this was Trump or Bush or any Republican administration was in control, the press would not give them the benefit of the doubt therefore I don't think that benefit of a doubt should be given to the Biden Administration this time either.

With respect to your last point, I suspect that's because they don't want to give him any maneuvering room to go for a 2024 run.

If we assume the incredibly long shipping lines off the coast of CA are contributing to supply issues, then Biden's administration is directly impeding progress in slowing inflation. His strong support for unions including billions of dollars in the great taxpayer giveaway bills and his direct blocking of port automation funds in the infrastructure bills are fully on his administration. Inflation is generally bad for any economy.

The all out war on fossil fuels has driven up energy costs as well as transportation costs for all products. Consumers get stuck paying for the cost increases caused by these policies.

You are absolutely right that the media gives no benefit to conservative presidents, but I don't think this administration deserves any slack.

bigeric said:

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Werewolf said:

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bigeric said:

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Never saw the Denzel Washington movie. A note, the brainwashed role was controlled by a foreign government, which would not apply to BIden. I feel the control of Biden is real, and exerted by his handlers, and even Jill. Thus my description of him as a Manchurian candidate.
Witness his "cue card(s)."

---

Care to speculate who controls BIden?

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There is a Chicago cabal of radicals grounded in the methodologies of Saul Alinsky. Includes Hillary, Barack and others, some of who harken back to, and retains the idealogies of, the Weatherman Underground.

How's that for conspiracy theories?

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Hey, I'm good with some "serious" thinking. Look how bizarre things are....no time to be thinking like a "normie". These times are no where near "normal".

My opinion is that there is a criminal cabal that has controlled or influenced most of the globe for about 1,000 years. It controls on the order of 400-450 members of our US Congress with George HW Bush, Clinton, GW, Obama and Biden part of it. The CCP may very well be controlled by this group but I do not believe that Putin is.

My information from 20+ years ago is that Putin is closely aligned with the Russian Orthodox Church...not Brezhnev, Stalin etc. This is why the Corporate Media and Western Govts continue to go after Putin and attempt to tie Trump to Putin as both are threats and refuse to fall in line with the Cabal control.

By the way, when the identify of Obama's grandfather is revealed it will shock the world.

PackFansXL said:

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If we assume the incredibly long shipping lines off the coast of CA are contributing to supply issues, then Biden's administration is directly impeding progress in slowing inflation. His strong support for unions including billions of dollars in the great taxpayer giveaway bills and his direct blocking of port automation funds in the infrastructure bills are fully on his administration. Inflation is generally bad for any economy.

The all out war on fossil fuels has driven up energy costs as well as transportation costs for all products. Consumers get stuck paying for the cost increases caused by these policies.

You are absolutely right that the media gives no benefit to conservative presidents, but I don't think this administration deserves any slack.

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oh, I don't think they deserve slack either, you are 100% correct on your points above. All I'm trying to do is separate the political part recession vs the economic part of the recession.

I also agree with you that a lot of policy enacted contributed mightily to negative GDP growth the last two months.

My biggest worry economically is not this recession or the inflation. Deflation has a real possibility of coming to our shores, which the main driver for that is government borrowing

Quote:

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It's easy enough to see the consequences of inflation at the checkout counter. But the hidden cost of inflation one that few see and just about nobody talks about is the increased tax burden that flows directly from rising prices. For example, Minnesota is currently sitting on a $9.25 billion budget surplus. To be clear, this is state and federal taxpayers' money, collected and disbursed over and above the budget needs of the state.

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hokiewolf said:

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PackFansXL said:

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If we assume the incredibly long shipping lines off the coast of CA are contributing to supply issues, then Biden's administration is directly impeding progress in slowing inflation. His strong support for unions including billions of dollars in the great taxpayer giveaway bills and his direct blocking of port automation funds in the infrastructure bills are fully on his administration. Inflation is generally bad for any economy.

The all out war on fossil fuels has driven up energy costs as well as transportation costs for all products. Consumers get stuck paying for the cost increases caused by these policies.

You are absolutely right that the media gives no benefit to conservative presidents, but I don't think this administration deserves any slack.

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oh, I don't think they deserve slack either, you are 100% correct on your points above. All I'm trying to do is separate the political part recession vs the economic part of the recession.

I also agree with you that a lot of policy enacted contributed mightily to negative GDP growth the last two months.

My biggest worry economically is not this recession or the inflation. Deflation has a real possibility of coming to our shores, which the main driver for that is government borrowing

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Companies are starting to miss targets. See Walmart (I believe it was a top line target). That speaks to one clear thing, People are slowing down spending. The cost of product is making people spend less, because they can't afford it.

Yes, trade is a big factor and I told everyone that last qtr. Either way, we are too dependent on China trade.

caryking said:

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hokiewolf said:

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PackFansXL said:

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If we assume the incredibly long shipping lines off the coast of CA are contributing to supply issues, then Biden's administration is directly impeding progress in slowing inflation. His strong support for unions including billions of dollars in the great taxpayer giveaway bills and his direct blocking of port automation funds in the infrastructure bills are fully on his administration. Inflation is generally bad for any economy.

The all out war on fossil fuels has driven up energy costs as well as transportation costs for all products. Consumers get stuck paying for the cost increases caused by these policies.

You are absolutely right that the media gives no benefit to conservative presidents, but I don't think this administration deserves any slack.

---

oh, I don't think they deserve slack either, you are 100% correct on your points above. All I'm trying to do is separate the political part recession vs the economic part of the recession.

I also agree with you that a lot of policy enacted contributed mightily to negative GDP growth the last two months.

My biggest worry economically is not this recession or the inflation. Deflation has a real possibility of coming to our shores, which the main driver for that is government borrowing

---

Companies are starting to miss targets. See Walmart (I believe it was a top line target). That speaks to one clear thing, People are slowing down spending. The cost of product is making people spend less, because they can't afford it.

Yes, trade is a big factor and I told everyone that last qtr. Either way, we are too dependent on China trade.

---

I think availability of product is really the key to this whole thing. Consumer spending is less forst because the products aren't readily available and the ones that are available are selling at higher prices - I.e., cars.

If the products were available, the consumer would be spending more. At least that what I've seen in my industry. Supply is preventing and delaying purchase

Make sure to see the 2nd pic too

https://instagr.am/p/ChSEUpXLkEZ

PackFansXL said:

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If we assume the incredibly long shipping lines off the coast of CA are contributing to supply issues, then Biden's administration is directly impeding progress in slowing inflation. His strong support for unions including billions of dollars in the great taxpayer giveaway bills and his direct blocking of port automation funds in the infrastructure bills are fully on his administration. Inflation is generally bad for any economy.

The all out war on fossil fuels has driven up energy costs as well as transportation costs for all products. Consumers get stuck paying for the cost increases caused by these policies.

You are absolutely right that the media gives no benefit to conservative presidents, but I don't think this administration deserves any slack.

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I watch MonkeyWerx on Youtube and take in about 1 or 2 shows per week...........he usually does 3. That show has documented the backup of ships at the Long Beach ports in Ca over the prior months. The show now documents the decline in shipping traffic between China and the US over the last 2 months. Last time I watched was a week ago and there was essentially zero ships in the Long Beach harbor from China. Chinese shipping is now mostly confined to its coast and neighboring mainland neighbors. This is an indication to me that we are close to some sort of a kinetic altercation.........most likely over Taiwan.

Watch Monkey Werx and see for yourself. Its mostly air traffic but transitions to shipping near the end of the 20-30 min show.

https://www.blacklistednews.com/article/83143/rent-is-becoming-a-crisis-in-the.html

Rent payments not being made as rent climbs

I agree.

If you are immune compromised...not an issue. You have been wearing one before Covid, during Covid. Not because of Covid.

But wearing a mask to goose step in line with the CDC... which has been exposed...well... there you go. They have admitted that they had no clue.

It was all about the election. Nothing more, nothing less.

hokiewolf said:

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caryking said:

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hokiewolf said:

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PackFansXL said:

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If we assume the incredibly long shipping lines off the coast of CA are contributing to supply issues, then Biden's administration is directly impeding progress in slowing inflation. His strong support for unions including billions of dollars in the great taxpayer giveaway bills and his direct blocking of port automation funds in the infrastructure bills are fully on his administration. Inflation is generally bad for any economy.

The all out war on fossil fuels has driven up energy costs as well as transportation costs for all products. Consumers get stuck paying for the cost increases caused by these policies.

You are absolutely right that the media gives no benefit to conservative presidents, but I don't think this administration deserves any slack.

---

oh, I don't think they deserve slack either, you are 100% correct on your points above. All I'm trying to do is separate the political part recession vs the economic part of the recession.

I also agree with you that a lot of policy enacted contributed mightily to negative GDP growth the last two months.

My biggest worry economically is not this recession or the inflation. Deflation has a real possibility of coming to our shores, which the main driver for that is government borrowing

---

Companies are starting to miss targets. See Walmart (I believe it was a top line target). That speaks to one clear thing, People are slowing down spending. The cost of product is making people spend less, because they can't afford it.

Yes, trade is a big factor and I told everyone that last qtr. Either way, we are too dependent on China trade.

---

I think availability of product is really the key to this whole thing. Consumer spending is less forst because the products aren't readily available and the ones that are available are selling at higher prices - I.e., cars.

If the products were available, the consumer would be spending more. At least that what I've seen in my industry. Supply is preventing and delaying purchase

---

Hokie, I encourage you to look at leading indexes. They predict the future. I'm not astute on these; however, I follow Steve Cortes for these leading indicators. He gives commentary, and yes, he is MAGA; however, the indicators are widely used to help economist…