AUGUST 12, 2022

Up voted

Inflation Reduction Act was never intended to reduce inflation. It was a renaming of a scaled back Build Back Better, which was a grossly enormous spending bill that could not pass through Congress.

OK. So the fact that inflation DID reduce afterward was just a happy coincidence?

Well, shit, if this administration is just that lucky, let's see what other good coincidences we can get from them!

Inflation today is more than twice what it was when Biden took office.

This graph is both racist and biased because it’s white.

7 x 2 = 3.2?

Oh. You want to talk to the guy who presided over a total collapse in demand 12 months prior to Biden taking office. Remember that these figures are a comparison with prices the year before, so you want to refer to what was happening in the market in 2020 - my memory's a little hazy but I do remember something..........

Am I confusing things (like my spelling), or is 3.2% really not "more than double" 7% as these gents keep saying?

If inflation reduced, then why is it twice as high today?

It's now 3.2% by the way

Which is 50% higher than when Biden took office. And interest rates are much higher now. So houses, cars and other things bought on credit now “cost” more in terms of money out of your bank account. Tell me that is not inflationary.

No, it's half.

If you borrow $10 from a bank and then pay back $3, you still owe the bank $7. You don’t get a pat on the back for for a good job for reducing your debt by 30%.

I honestly believe you don't even know what inflation is! Inflation is not debt and nobody ever said it was.

That was an example of wanting credit for something you don’t deserve credit for. Even CNN (via CBS) calls you a liar.

https://www.cbsnews.com/miami/news/inflation-forces-us-families-to-spend-709-more-a-month-than-two-years-ago/

See, you say that, but here's the inflation history for a country that was conservatively governed (the UK).

The inflation of the last two years was a global issue. It happened to EVERYONE. If Biden handled it badly, that means there are countries that reduced inflation faster than the USA did. So: name it. Which country puts us to shame through their example?

You’re wrong again. There are 56 countries that have lower inflation rates than the United States.

https://www.visualcapitalist.com/which-countries-have-the-lowest-inflation/

So your answer is: we should have run our economy a little bit more like South Sudan?

OK. I think we're ready for a vote now.

So you ask for countries & I give you 56. Then, like all liberals, after being provided with facts, you dismiss the facts as being immaterial and irrelevant.

Safe bet China, NK, and Cuba made that list?

imgflip.com/i/7v1emq
Easy experiment. Pass out all the banks $ while playing Monopoly, and then see how much everybody then wants for their properties / rents.

It's now 3.2% by the way

What the EXPERTS at Penn Wharton mean is that inflation would have gone down the same without the Inflation Reduction Act. They have attributed ZERO decrease to the act.

If inflation is going away on its own anyway, then what's the problem? I thought conservatives love it when problems just go away on their own.

Deficit spending and rising minimum wages are both inflationary.

Are you trying to say that what you want is DEflation?

For the love of God, no! That would be a catastrophe!

How about fiscal responsibility from Washington. No more deficit spending and no more printing dollars.

So no more money?

usdebtclock.org

But no more money?

That’s a rather vague statement, I don’t know what you mean by it

"no more printing dollars."

Must I insert that into The Wall to explain the question?

They lied about the purpose of the act so they could do a bunch of other unrelated things that the act was really intended for. Calling it something that sells - It's a Democrat trademark deception method

If that were true, you wouldn't be trying to mislead people into thinking that inflation didn't lower when it did. The truth doesn't need deception to express itself.

https://www.cbsnews.com/news/inflation-reduction-act-may-not-lower-inflation-penn-wharton/

Inflation isn't going away. It's taking a breather on the run up to the 2024 elections. If by massive voter fraud, Biden is re-elected then he and the Federal Reserve are going to crank up the printing of dollars to 11.

"The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy." Ludwig Von Mises

Inflation happens not as a result of bad policy. Inflation IS a bad policy. It happens when there are too many dollars. Once Nixon took us off the gold standard, inflation skyrocketed as the value of the dollar dropped. But it wasn't until Obama that it became a fixed policy of the Democrat party. Bush started it with his "quantitative easing" and "too big to fail" nonsense but it took Obama to make it a permanent policy. Bush just tried it temporarily. It was still wrong but to make it permanent is evil.

I never read of Trump tried to persuade the Feds to stop printing or at least slow down. For all I know they just kept printing at the rate that Obama had set.

When Biden got in office he cranked it up.

There is a reason for this bad behavior. The Great Reset. The World Economic Forum's plan to end capitalism and bring in a global fascist regime. Apparently Obama was a part of it back then, Biden is definitely on board with it. Biden's campaign slogan was borrowed from the WEF's slogan for the Great Reset, "Build Back Better".

Because in order to Build Back you first have to destroy. The WEF thinks that fascism is better than capitalism and that is why they want the Great Reset to tear everything down so they can Build Back Better.

So if you thought WWII Italy and Germany was bad, then this is what voting Democrat will bring us.

This is bs and it has been explained to you many times why.

Who explained it to me? You? All you have done is repeat the word "this is not a fiat currency" about 83,490,397,852,838,458,209,873,405. I replied to you 83,490,397,852,838,458,209,873,405 times saying I never said it was a fiat currency.

So now here is my 83,490,397,852,838,458,209,873,406th explanation, a fiat currency is when the currency has 0 value. We still have some value to our currency, it hasn't gone fiat yet. But when it does I will not post you here to update you because if our money has gone fiat then there will be no more ImgFlip, no more ISP for you and me to connect to the internet. That and every other business goes away. Then we will have 100% unemployment. The nation becomes the Walking Dead without zombies.

No, I did not even say that.
You did.

Stop. lying. God don't like it.

I wasn't lying, I was exaggerating. There is a difference. It wasn't 83,490,397,852,838,458,209,873,405 times that had to explain that to you. It was 83,490,397,852,838,458,209,873,247 times. That's much lower. I apologize for exaggerating.

No. For various technical reasons, you always want SOME inflation, even if it's just a percentage point or two.

0% inflation is a sign that the economy is shrinking. Deflation is a sign of collapse.

Now, what you're TRYING to argue is that when Democrats are in charge, inflation is TOO HIGH. That's what you're TRYING to get people to believe. It's not true, but that's the story you're trying to tell.

But to say that inflation is always bad policy no matter what is just factually incorrect. No economist - not conservative ones, not liberal ones - would ever support that argument.

On what planet is a devalued dollar doing anyone any good? You think it helps the economy when prices go up because the value of the currency is lower? Who does that help, aside from the government?

0% inflation is NOT a shrinking economy. A shrinking economy happens when the government interferes too much in the economy. Either by raising taxes or by onerous regulations on businesses. Democrats are notorious for doing both of those things. In addition we now have Dims who are purposely devaluing the dollar and causing prices to skyrocket. Prices go us because businesses are not interested in the number of dollars, they are interested in the value the dollars represent.

The economy, left alone, will always have it's highs and lows. That is just the nature of how economics works. The problems really happen when the government actually has the hubris to think they can control the economy.

"But to say that inflation is always bad policy no matter what is just factually incorrect. No economist - not conservative ones, not liberal ones - would ever support that argument."

I quite literally put a quote from Economist Ludwig Von Mises about inflation in my last comment.

Here's another from Ludwig Von Mises:
"Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties."

He also said "The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters."

Nobel Prize Winning Economist Milton Friedman said
"If you continue to use monetary policy to attempt to promote full employment the result would be that you would have higher inflation, and that you would not have lower unemployment." -

Here's an article by Economist Thomas Sowell: https://www.washingtonexaminer.com/thomas-sowell-politicians-steal-your-money-through-inflation

Economist Friedrich Hayak spoke out about inflation controls the people and causes unemployment.

Democrats have STRENGTHENED the USDollar.
Biden has done it after Trump wanted to reduce key interest rates into the NEGATIVE,
Obama did it after Bush weakened it in the name of "stimulus,"
heck, it was Carter that had interest rates raised through the roof to quell Nixon's double digit inflation, something Reagan took credit for as the results became more apparent during his two terms.

I take that back. I'm way cooler than you.

Take what back, bogus nonsense about the USD?

On the planet where rich people bury their money in an offshore Swiss account the first chance they get, never to be seen again, instead of reinvesting it back into circulation.

i.e. this planet.

I'm being completely serious. Talk to an economist, they'll tell you the same thing. Some will argue that 1% is healthy, some will argue that 6% is healthy, but nobody will tell you that it should ever be zero.

*laissez-faire 🙂

oopsie, looks like something had to go disappear now,,,

I’m sure you have way more info on the CPI than Ivy League economists.

Well, for one thing, they said it wasn't going to go down when actually it did, so...

That’s not what they said. When you need to lie to fit your argument into your own narrative, you lose any credibility. They said that even if he did/does nothing, it would/will come down. That’s like giving credit to Biden for the sun rising and setting.

So if inflation is going away on its own anyway, then what's the problem? I thought conservatives love it when problems just go away on their own.

The problem is trying to buy food, gas, electricity, rent, car notes, etc. You don’t have that problem because you are on food stamps, section 8 housing, have a free Obama phone, free healthcare, free everything. When you don’t have to work and support yourself, it’s easy for you to sit back and wait for it to come down.

So laissez-faire or not?

So you're saying that the government should step in and intervene on the problem?

They did. Now it's down to 3.2% and still reducing.

You win, Lady. You’ve successfully beaten me down. Joe Biden is the most honest, most sincere, most unifying president we have ever had. We need to make space at Mt. Rushmore for his bust.

OK. Remember that immigrating into South Sudan is not that hard, best of luck!

If I have trouble there, thank god I can choose from 55 other countries.

Don’t forget Israel. We know how much you liberals hate them too.

Yeah! China. We all know you love them. Panama. Vanuatu.

Read it and weep. Nearly every category rose. Almost everything is getting more expensive. This isn’t me talking; this is the government.

https://www.bls.gov/news.release/cpi.htm#:~:text=Not%20seasonally%20adjusted%20CPI%20measures,percent%20prior%20to%20seasonal%20adjustment.