Yeah, "putin's price hike" is the narrative being promoted by the establishment now. You'd have to have an exceptionally short memory to buy it, so I won't be surprised if it catches on with the mainstream public.
How about that inflation
Re: How about that inflation
So what is the problem?puerile_polyp wrote: ↑Wed Jul 20, 2022 1:14 amYeah, "putin's price hike" is the narrative being promoted by the establishment now. You'd have to have an exceptionally short memory to buy it, so I won't be surprised if it catches on with the mainstream public.
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Re: How about that inflation
The euro is falling against the dollar because the European Central Bank went at it even harder with the money-printing machine than the USA did, and has been even slower to stop.Spartan26 wrote: ↑Mon Jul 25, 2022 5:36 amSo what is the problem?puerile_polyp wrote: ↑Wed Jul 20, 2022 1:14 amYeah, "putin's price hike" is the narrative being promoted by the establishment now. You'd have to have an exceptionally short memory to buy it, so I won't be surprised if it catches on with the mainstream public.
Re: How about that inflation
I just made a shopping trip for groceries that would have cost me about 130 dollars three months ago and now cost me 220 dollars.
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Re: How about that inflation
Now they're trying to convince everyone that we have all this inflation because corporations suddenly became greedy. I won't be surprised at what anybody believes anymore.
Re: How about that inflation
What's your explanation -- because clearly inflation is a world-wide phenomenon at the moment.puerile_polyp wrote: ↑Thu Oct 27, 2022 6:38 pmNow they're trying to convince everyone that we have all this inflation because corporations suddenly became greedy. I won't be surprised at what anybody believes anymore.
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Re: How about that inflation
My explanation is in my first post in this thread so here it is again:starjots wrote: ↑Sat Oct 29, 2022 10:10 amWhat's your explanation -- because clearly inflation is a world-wide phenomenon at the moment.puerile_polyp wrote: ↑Thu Oct 27, 2022 6:38 pmNow they're trying to convince everyone that we have all this inflation because corporations suddenly became greedy. I won't be surprised at what anybody believes anymore.
https://www.amarketology.com/how-the-us ... 0-and-2021
Europe did the same thing: https://www.reuters.com/article/health- ... NKBN21606P
This inflation was caused by unprecedented, astronomical amounts of money being printed in the world's reserve currency. Also extremely low interest rates for way too long.
Now the Western leaders who engineered this are working to convince you that the cause is anything other than their own actions. For starters they changed the way they were keeping track of money supply in the middle of all of this: https://fredblog.stlouisfed.org/2021/05 ... n=fredblog
They've been telling us for the past two years that inflation is "transitory" and that there won't be a recession, as people noticed what was happening and saw the warnings. They kept interest rates extremely low until it was obvious shit was hitting the fan. And now that they can't deny that it's happening, it changes to "it's not our fault that it's happening". So we get a litany of reasons outside of their control: Russia, "supply chain problems", covid, and now "corporate greed".
The last one is the dumbest imo because you have to somehow believe that corporations all of a sudden became greedy and realized they could just make more money by charging more.
Tough times ahead. And a big looming problem is that they will probably need to raise interest rates drastically in order to get the inflation under control, but doing so would raise payments on the US debt to extraordinarily high levels that would be difficult to pay. Defaulting on the US debt would be catastrophic.
edit: and as for it being global, it appears that inflation in China is still under 3 percent
Re: How about that inflation
I agree that corporate greed is the least of the inflationary causes. Corporations do love to tack on a few extra percent for themselves since prices are going up anyways, but that's not a significant factor.
All the covid related largess, corresponding lack of productivity, and resulting supply chain disruption are the main issues for general inflation. Russia's invasion of Ukraine is probably the root cause of most of the energy inflation (otherwise it would be in line with general inflation I would suspect).
All the covid related largess, corresponding lack of productivity, and resulting supply chain disruption are the main issues for general inflation. Russia's invasion of Ukraine is probably the root cause of most of the energy inflation (otherwise it would be in line with general inflation I would suspect).
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Re: How about that inflation
I paid $60 for a pair of windshield wipers a few weeks ago. I think I paid like $15 for a pair 6 years ago or so.
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Re: How about that inflation
Until recently I always thought about inflation as demand side driven.
But if you define inflation as too much money chasing too few goods, you could just increase supply.
Supply easily increases with technology. I don't recall hearing much about this as a fix though. Just raising rates.
But if you define inflation as too much money chasing too few goods, you could just increase supply.
Supply easily increases with technology. I don't recall hearing much about this as a fix though. Just raising rates.