Things that made you Facepalm today (Political Version)

[Neveragain]

Seran if the exact same bill was passed under Trump: OMG TRUMP IS GOING TO BANKRUPT US WITH ALL THIS RECKLESS SPENDING!!!!!!!!!!!!!!!!!!!!!!!!!!!!

In 1982 inflation was at 5% so the Federal reserve lowered the interest rate down to 9%.

We are currently at a .25% interest rate with 7.9% inflation. Investors are predicting 6 quarter point increases this year which would place interest rates at 1.75%.

The vote both avoids the prospect of government shutdowns through the end of the fiscal year on Sept. 30

In reality it's not just going to be 1.5 trillion but rather 3 trillion dollars by the end of the year. This will more likely be higher considering the likelihood of the US getting sucked into this war with the push for a no-fly zone.

This going to be a disaster.

[Suppressed Poet]

In 1982 inflation was at 5% so the Federal reserve lowered the interest rate down to 9%.

We are currently at a .25% interest rate with 7.9% inflation. Investors are predicting 6 quarter point increases this year which would place interest rates at 1.75%.



In reality it's not just going to be 1.5 trillion but rather 3 trillion dollars by the end of the year. This will more likely be higher considering the likelihood of the US getting sucked into this war with the push for a no-fly zone.

This going to be a disaster.

My humble amateur assessment for the causes of our current inflation problem are three folded: (edit to add I’m in no way claiming I solely came to this conclusion on my own, but this is the assessment of the causes for rapid significant increases to our inflation rate by several respected economists who have formed a general consensus.)

1) supply chain issues that began with the epidemic
2) fiscal policy with the Federal Reserve (interest rates are way too low and increasing them is absolutely beyond necessary at this point)
3) government overspending

#1 will get better over time and the whole world is facing that right now. #2 the Feds are starting to finally do something about and we will see frequent rate hikes this year. #3 is the most painful and the one that’s going to continue to get us in trouble. The Biden administration seems to lack the most basic understanding of economics, and went so far as to publicly say the solution to this inflation issue is MORE government spending.

And more bad news, the logical next thing to result from this inflation and failed efforts to get this under control is going to be economic stagnation. I think we will see years of limited GDP growth 1-3% as a natural consequence. That’s exactly how it went down for Japan in the “lost decade”.

[Parkbandit]

The Biden administration seems to lack the most basic understanding of economics, and went so far as to publicly say the solution to this inflation issue is MORE government spending.

MORE government spending, for companies to not raise their prices, that some inflation is actually great for the economy and it's Russia's fault has been the cornerstone of this Administrations inflation solutions.

[Suppressed Poet]

MORE government spending, for companies to not raise their prices, that some inflation is actually great for the economy and it's Russia's fault has been the cornerstone of this Administrations inflation solutions.

Agreed.

Also notice how the media and Dems keep calling the gas pump increase the “Putin hike”. Sorry folks…nothing we can do about it. It’s all Putin’s fault. And while yes Putin absolutely does have a lot to do with the most recent increase in price of crude oil, he completely ignores the fact that they were already high BEFORE the invasion. Biden’s domestic energy policies by executive order when he first took office have absolutely contributed to the steady increase in our fuel costs. But of course instead of taking accountability or considering easing up on the energy industry regulations, let’s just blame it all on Putin and make a half hearted attempt to get more oil from friendly nations like Venezuela, Iran, and Saudi Arabia. When they tell us to go eff ourselves, Biden can say he tried but this is all Putin’s fault…

[Neveragain]

My humble amateur assessment for the causes of our current inflation problem are three folded: (edit to add I’m in no way claiming I solely came to this conclusion on my own, but this is the assessment of the causes for rapid significant increases to our inflation rate by several respected economists who have formed a general consensus.)

1) supply chain issues that began with the epidemic
2) fiscal policy with the Federal Reserve (interest rates are way too low and increasing them is absolutely beyond necessary at this point)
3) government overspending

#1 will get better over time and the whole world is facing that right now. #2 the Feds are starting to finally do something about and we will see frequent rate hikes this year. #3 is the most painful and the one that’s going to continue to get us in trouble. The Biden administration seems to lack the most basic understanding of economics, and went so far as to publicly say the solution to this inflation issue is MORE government spending.

And more bad news, the logical next thing to result from this inflation and failed efforts to get this under control is going to be economic stagnation. I think we will see years of limited GDP growth 1-3% as a natural consequence. That’s exactly how it went down for Japan in the “lost decade”.

There's going to be heavy resistance to increasing interest rates. Your investment class is going to be against it because they know if things go to shit they will just receive a bailout. Government will be against it because it will cost more to spend. Consumers will be against it because everyone is living off barrowed money.

People will shit themselves if buying a home costs 500k and comes with a 16% interest rate.

[Suppressed Poet]

There's going to be heavy resistance to increasing interest rates. Your investment class is going to be against it because they know if things go to shit they will just receive a bailout. Government will be against it because it will cost more to spend. Consumers will be against it because everyone is living off barrowed money.

People will shit themselves if buying a home costs 500k and comes with a 16% interest rate.

I agree. Higher interest rates have very negative consequences to economic growth, but I think the Fed finally realizes the dire nature of the situation and risk of hyperinflation if they don’t. They have made it clear there will be several increases of 25bps (maybe even 50bps at certain intervals) this year. To not do so would be fiscally irresponsible.

[Methais]

Agreed.

Also notice how the media and Dems keep calling the gas pump increase the “Putin hike”. Sorry folks…nothing we can do about it. It’s all Putin’s fault. And while yes Putin absolutely does have a lot to do with the most recent increase in price of crude oil, he completely ignores the fact that they were already high BEFORE the invasion. Biden’s domestic energy policies by executive order when he first took office have absolutely contributed to the steady increase in our fuel costs. But of course instead of taking accountability or considering easing up on the energy industry regulations, let’s just blame it all on Putin and make a half hearted attempt to get more oil from friendly nations like Venezuela, Iran, and Saudi Arabia. When they tell us to go eff ourselves, Biden can say he tried but this is all Putin’s fault…

Biden should consider himself lucky that people who are as stupid as Seran exist.

[Parkbandit]

Biden should consider himself lucky that people who are as stupid as Seran exist.

He never would have been elected if not for that huge liberal voting block.

[Gelston]

He was only elected because people hated Trump. He didn't even gain the majority of Republican votes in some areas.

[Alfster]

It was that way in Wisconsin for sure.