Repugs input to the CARES Act was raising taxes on the non-wealthy, starting in a couple years, to "pay for" the tax cuts for the oligarchy.
Yellen just spelled it out. "Let the market determine the value of the dollar". US governments since the 90s have backed a strong dollar. Now we won't (ironically something Trump wanted). Hedge funds are all shorting the dollar. Its already at 2 year lows and will continue to decline. Bottom line? Your paycheck will buy less.
Last edited by CosmicCowboy; 01-18-2021 at 02:13 PM.
Repugs input to the CARES Act was raising taxes on the non-wealthy, starting in a couple years, to "pay for" the tax cuts for the oligarchy.
*yawn* boots, your team has the whole enchilada now. What is your derogatory nickname for the democrats going to be when you don't like results?
Good evening. Based on your strong opening post, being liked by boutans. I will assume you my friend are a - liberal. Best of lucky. There are many of you here. Good lucky!
?? Huh, am I missing something?
Yep, wonder what people will whine about now when they're the ones who voted the lot of them in.
Remember when OP was panicking about hyperinflation? good times.
If there's anything we know since the 90s is that D administrations have been continually fixing up the economic ups from previous R administrations.
Hopefully this next one can pull it off again.
As long as I can still buy skins and fill my steam wallet, I'll be ok.
With everyone getting $2600 and bitcoin hitting $42k? Makes me want to run out and qualify for as many cheap, low-interest rate mortgages (rental houses) as the bank will allow (even at my advanced age).
We shall see.
Then GOP gets elected back to come it up some more. Gonna be hard to top Trump, but then I thought the same about Bush after he wrecked the economy in 2008.
I can only assume CC was referring to Yellen's telegraphed turn to an accomodative monetary policy.sing rates to fast -- as she did from 2015-2017 -- could depress employment.
https://theintercept.com/2021/01/18/...nomy-treasury/
Last edited by Winehole23; 01-18-2021 at 05:02 PM.
I'll bet that guy that gave 10,000 bitcoin for a pizza 10 years ago feels like a dumbass now.
I believe if you search back I said inflation was inevitable, not hyperinflation.
tbf, it was a while ago, during the QE days. You were certainly concerned about out of control inflation, IIRC. None of that really happened because we were on a deflationary economy at the time.
Again, context is important here. We're again in a shrunk economy that is going to need a lot of stimulus to be brought back up.
You'll find plenty to whine about. Your lot always does
Clad to have you. You joined and seem to have many answers.
One time checks don't lift anybody out of poverty though. Doesn't qualify anybody for cheap mortgages either. And it's not meant to.
This is a temporary patch to deal with a temporary health emergency that has brought the most vulnerable to it's knees.
Actually fixing up the economy will have to wait until the pandemic situation is a bit more under control.
And there has been a 22.38% inflation since 2008.
Is that a lot?
Which is in-line with what it has historically been:
https://www.usinflationcalculator.co...flation-rates/
The average inflation rate in this country is ~2% annual, and saving for economic crises, has been the same for a century now.
That's actually relatively low. The expectation is that it would be >= 24% over the past 12 years.
Probably irrelevant if your income has gone up 23% in 12 years. Oh wait. That income gap you keep complaining about.
Exactly. If you have some sort of investment or way to accrue a 3+% interest rate, you're probably beating inflation over the long run.
And do you guys think the deflationary balance of cheap imported goods and fracking over the last 12 years will gave the same effect over the next 12 years?
Typical richer reply
Sounded low to me.
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