Buckle Up: Experts Send Dire Warning
About Biden’s Economy
Trending Politics,
by
Jonathan Davis
Original Article
Posted By: Imright,
7/12/2021 4:10:51 PM
Remember how the Biden regime and the Federal Reserve chair keep telling Americans how “inflation is transitory” and that we shouldn’t worry much about it because it’ll pass? Yes, well, so much for that; another lie debunked. “Americans should brace themselves for several years of higher inflation than they’ve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a while,” The Wall Street Journal reported. “The respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before.
Reply 1 - Posted by:
watashiyo 7/12/2021 4:47:05 PM (No. 843599)
3.2 %? LOL! Understatement. Brace yourself for 10. Get out of debt NOW! Long miserable winter ahead.
10 people like this.
And yet the Fed continues to keep interest rates near zero. Something will give, soon enough. The Fed is trying to keep the interest on the debt from exploding, but this cannot last much longer. The natural result of dumping trillions of helicopter dollars into the economy, and mandating $15 an hour labor for unskilled work.
8 people like this.
Let's see now...TRILLIONS appropriated and signed by PDT were good. Money printed and distributed with debt accrued. No economic problems there. Biden does same with fewer TRILLIONS and that's economic disaster, trigger of inflation, end of good times, etc. Really?
Partisanship aside, this was all an invitation to disaster. Many said so with the first "stimulus". But, no, Congress couldn't stop with the free sh-tuff...all fully approved by the President, whoever he was at the time.
3 people like this.
Reply 4 - Posted by:
red1066 7/12/2021 6:10:14 PM (No. 843667)
A lot of this inflationary pricing could be eliminated if companies got back to work producing goods instead of operating at lower levels because of the Chinese virus crap. Also, the fed still giving out thousands of dollars in assistance to people who should be working would help solve this inflation fear.
9 people like this.
Reply 5 - Posted by:
hoosierblue 7/12/2021 6:55:42 PM (No. 843704)
I didn't need experts to tell me that. I knew it was going to bring on a disaster and so should everyone else that has a little common sense and is paying attention. I agree that this is an understatement. What I am afraid of is that we are going to go bankrupt, the dollar will cease to be the world currency and we will have a depression that will make the 30's depression look like a walk in the park.
5 people like this.
Reply 6 - Posted by:
Grounded 7/12/2021 7:02:38 PM (No. 843711)
Interest rates have been near zero for so long that the idiot politicians think they have free money to spend. When interest rates finally get to historic levels for government notes, debt service is going to consume so much of the federal budget that there will be damned little money left over for actual government operations. Especially after payouts for Social Security and Medicare.
4 people like this.
Reply 7 - Posted by:
NorthernDog 7/12/2021 7:07:38 PM (No. 843717)
Inflation calculations are a joke. Our property taxes, trash service, homeowner's insurance, and auto insurance are all increasing sharply. None of those expenses are accounted for, but they all must be paid.
8 people like this.
Reply 8 - Posted by:
RuckusTom 7/12/2021 10:51:41 PM (No. 843886)
0% interest on $30T in debt is a lot different than 10% (or 30% or ...) interest. We'll be paying all our taxes just to service the debt when that happens. And if countries decide to drop the dollar as their exchange currency because they realize it's just paper (see BRICS or bitcoin) guess where those excess dollars will come flooding back to? Keep your wheel barrel nice and maintained. You may need it for all cash that'll be needed to buy a loaf of bread.
1 person likes this.
Nope #3 - many of us railed against the stupidity of this under Trump as well, and were very vocal about feeling sold out when Trump signed these misappropriations instead of vetoing them as promised, and making Cocaine Mitch wear the shirt for allowing that garbage through. Trump was dead wrong on this aspect of his presidency, and received some pretty lousy advice from Mnuchin on this topic.
At this time I recall Trump stating he was backed into a corner, but the fact is he could have vetoed these debt busting bills.
0 people like this.
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