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How Biden and the Democrats Reignited Inflation

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Posted By: Garnet, 2/14/2022 12:03:50 AM

As has been widely reported, the Bureau of Labor Statistics (BLS) released the latest inflation numbers last Thursday, and they were ugly. The Consumer Price Index (CPI) rose 7.5 percent during the 12-month period ending in January, its largest one-year spike in 40 years. This dwarfs the inflation rate of 1.4 percent that President Biden and the Democratic Congress inherited in January of 2021. BLS also reported that real earnings decreased 1.7 percent from January 2021 to January 2022. All of this is directly attributable to the incompetent economic policies of the Biden administration and wild spending by congressional Democrats in the midst of a supply chain crisis.

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Reply 1 - Posted by: Kafka2 2/14/2022 12:55:54 AM (No. 1071285)
What was left unsaid was the Democrats have added a lot of new regulations and mandates that add overhead costs and impede the movement of products to market. Also, giving people more money than they would make if they went to work encourages then to stay home and not be productive. This reduces the production of products. More money chasing less goods -- a double whammy!.
11 people like this.

Reply 2 - Posted by: Trigger2 2/14/2022 8:03:47 AM (No. 1071446)
When is the electorate going to learn that demonrats always, always attempt to destroy the USA economy? Every time they get elected, it always happens.
4 people like this.

Reply 3 - Posted by: Clinger 2/14/2022 8:29:09 AM (No. 1071476)
Wow I could have saved you a lot of time at the keyboard. More Money + Less Production = More Money / Production = Inflation There's no need to confuse the discussion with symptoms of the cause such as "supply chain" issues, its all part of the less production side of the equation caused by SHUTDOWNS and VACCINE MANDATES sending production workers out of the work.
1 person likes this.

Reply 4 - Posted by: franq 2/14/2022 8:34:41 AM (No. 1071484)
It's complicated, you see. So sez Zhoa. Printing trillions might have something to do with it, though.
2 people like this.

Reply 5 - Posted by: NorthernDog 2/14/2022 9:11:27 AM (No. 1071545)
The inflation is very uneven right now too. Housing and automobile costs are well into double-digit increases. Prune juice (Joe's favorite beverage) has been holding steady.
3 people like this.

Reply 6 - Posted by: GustoGrabber 2/14/2022 11:47:33 AM (No. 1071749)
What needs explanation is this is government approved and orchestrated as the first steps of new deal/ great society/ build back Biden/ Obama world Venezuela style attack on wealth and savings. Water down the wealthy is to confiscate wealth through the back and redistribute like Halloween candy to government dependent lifelong children of communism.
2 people like this.

Reply 7 - Posted by: JimBob 2/14/2022 7:08:58 PM (No. 1072082)
Well, I am not disagreeing with the inflationary effects of the runaway spending by The HairSniffer's administration, and the runaway 'balance-sheet pumping by the Fed. But... the Elephant in the Room is the rising cost of fuel, which is a Direct Result of The HaiSniffer's deliberate starving of the American economy of petroleum. I well remember the inflation of the 1970's.... the driving force was the increased cost of fuel, as the Arabs had quit squabbling amongst themselves long enough to form the OPEC oil cartel. Today, the DOUBLING of the cost of gasoline and Diesel fuel increases the cost of getting to work, the cost of planting crops, it increases the raw material cost of anything made using petroleum, it increases the cost to process everything, to mine and refine metal ores, to harvest logs and crops, it increases the cost to transport raw materials, ready-to use materials, semi-finished parts, finished products, it increases the cost of anything and everything . For most goods, prices are not going up because people have money burning a hole in their pockets and 'those evil corporations' are trying to get it. Prices are going up because the COST TO PRODUCE everything is going up. As the little stickers with the smiling Biden pointing to the (doubled) price of gas, appearing on gas pumps everywhere proclaim...."I DID THAT!"
2 people like this.

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