Biden's inflation danger: Some economists sound alarm over stimulus plans

[random3]

Biden's inflation danger: Some economists sound alarm over stimulus plans

https://news.yahoo.com/bidens-inflation-...21221.html

[David Horn]

(02-16-2021, 08:27 PM)random3 Wrote: Biden's inflation danger: Some economists sound alarm over stimulus plans

So I've heard, but then again, where's the inflation from all the prior spending?

[Bob Butler 54]

(02-17-2021, 11:21 AM)David Horn Wrote:

(02-16-2021, 08:27 PM)random3 Wrote: Biden's inflation danger: Some economists sound alarm over stimulus plans

So I've heard, but then again, where's the inflation from all the prior spending?

I vaguely remember that coming off the gold standard made it easy to fight inflation. This was done in Nixon's time. It made it possible to have stagflation. It brought back periodic economic hard times as happened with 'it's the economy stupid' and the 'Great Recession'. Macro economics just fundamentally changed at that point. Just as war changed with nukes, proxy war and insurgent war becoming common, economic lessons learned from the Industrial Age have to be verified now that forces that don't apply now are changed.

[David Horn]

(02-17-2021, 12:20 PM)Bob Butler 54 Wrote:

(02-17-2021, 11:21 AM)David Horn Wrote:

(02-16-2021, 08:27 PM)random3 Wrote: Biden's inflation danger: Some economists sound alarm over stimulus plans

So I've heard, but then again, where's the inflation from all the prior spending?

I vaguely remember that coming off the gold standard made it easy to fight inflation.  This was done in Nixon's time.  It made it possible to have stagflation.  It brought back periodic economic hard times as happened with 'it's the economy stupid' and the 'Great Recession'.  Macro economics just fundamentally changed at that point.  Just as war changed with nukes, proxy war and insurgent war becoming common, economic lessons learned from the Industrial Age have to be verified now that forces that don't apply now are changed.

Even the pros are baffled by the lack of inflation pressure.  Since the pros are all over the place on this, I'll give my own take.  What do I have to lose.

Wages and salaries ceased to track productivity gains in the early '70s, so, after 50 years of subpar increases, the labor cost of goods and services is far cheaper than it should be.  On the other side of that, the inadequately compensated labor can't absorb the goods and services for lack of income.  That inherent slack (too little demand for the the potential supply) has left us with sluggish growth and little innovation.  If the minimum wage rises substantially, and the rest of the wage and salaries follow suit, we may finally see some inflation and higher interest rates. 

Of course, I can be just as far off base as anyone -- further, since this is not my area of expertise.

[random3]

The elites have covered all the bases, closed all the doors, and crossed all the lines.

The ruling class controls Wall Street, Hollywood, the media, and the government.

The globalists give campaign donations and cushy job promises to politicians to increase the debt, start wars, and grow the police state.

Anyone who obeys the 1% gets a paycheck, sale, and welfare, and can travel, go to school, drive, or see a doctor. Anyone who rejects the NWO is called a nutjob, gets banned, gets an IRS audit, is arrested, tortured, or killed.

The ruling powers have weakened, divided, distracted, and destroyed the USA by promoting immortality, illegal immigration, bread and circuses, and welfare.

The elites lie and use constant propaganda and brainwashing.

The globalists forge ballots and hack electronic voting machines to install their candidates while ignoring the freedom candidates.

The ruling class poorly educate students and use safe spaces to weaken the strong while using affirmative action to promote the weak.

The USA is obviously finished and seeing the future is easy now.

Soon the stock market will collapse. ATM machines will not work. The electricity, water, and Internet will be turned off.

There will be inflation and wage deflation.

There will be starvation.

The elites will nationalize property.

There will be struggle sessions, re-education camps, death squads, show trials, killing fields, and concentration camps.

Tyranny always ends the same way.