On Wednesday, August 31, 2022 at 4:16:57 PM UTC-5,
cycl...@gmail.com wrote:
> On Wednesday, August 31, 2022 at 10:47:08 AM UTC-7,
ernest...@gmail.com wrote:
> > On Wednesday, August 31, 2022 at 12:23:18 PM UTC-5,
cycl...@gmail.com wrote:
> > > On Wednesday, August 31, 2022 at 7:34:09 AM UTC-7,
ernest...@gmail.com wrote:
> > > > On Wednesday, August 31, 2022 at 9:10:38 AM UTC-5,
cycl...@gmail.com wrote:
> > > > > On Tuesday, August 30, 2022 at 4:53:04 PM UTC-7,
ernest...@gmail.com wrote:
> > > > > > > But who knows in the Joe Biden marketplace?
> > > > > > What does that have to do with it?
> > > > > I don't know if you've tried to buy any bicycle parts recently but the wild-eyed inflation caused by Biden is also in bicycle parts.
> > > > I don't buy retail. I buy wholesale since I own a bicycle business. Biden doesn't cause inflation. It's supply and demand.
> > > `
> > > I just bought some plastic water bottle cages - two years ago when I bought a supply they were $1.50 apiece. These identical ones are now $5. If you can notice that in wholesale pricing what exactly are you looking at?
> > I am looking at the price lists manufacturers put out.
> > Inflation will always happen no matter what.
> > It's not like a president has a button on his desk that says "inflation" on it.
> I think that you don't understand the reasons for inflation. I argue with Janet Yellen for two days on Facebook before they suspended me for arguing with an "acknowledged expert".
Tell us another one Tommy. You're humorous.
> Inflation occurs when the money supply expands more rapidly that the good to buy (Gross National Product or GDP) This is hard and fast rule and it has occurred in every society in the world all the way back to Rome.
You are describing the cause of inflation in places like Venezuela and other third world countries. Not the USA or western Europe. Or the vast majority of the world that is experiencing inflation right now. Europe has 8.9% inflation right now. Australia has 6.1% in June 2022. New Zealand has 7.3% inflation. Canada has 7.6% inflation in July 2022. South Africa has 7.8% inflation in July 2022. Russia has 15.1% inflation in July 2022.
The cause of inflation in the USA and most of the rest of the world is due to basic supply and demand principles. Demand decreased severely during Covid. And supply was also restricted during Covid due to people not working and making things. Because demand was down. Unemployment was high during Covid. Then Covid kind of sort of ended, and everyone wanted to buy buy buy again. Greater demand. But still small supply. Because they could not build things fast enough to meet the demand. Supply is behind. So prices went up. Inflation.
And yes, I will agree that the various government subsidies helped increase demand for some items. More money supply. In March 2020 Trump passed the CARES Act for $2.2 TRILLION dollars. In March 2021 Biden passed the American Rescue Plan for $1.9 Trillion dollars.
But despite the extra money, basic supply and demand of goods is what caused the inflation.
>
> Money represents the goods of the people and printing more money than the increase of those goods either through an increase in population allowing more goods to be produced or increases in productivity that increases the amount of goods available.
>
> If you do not print extra money to meet the increase in goods, your money becomes more valuable - you pay less for the things you buy. because there are more goods and services to be covered by the amount of money that is available. THIS is why the US went off of the gold standard and not the looney tunes ideas some people have. There simply wasn't enough gold to cover the increases in goods and services,
>
> If you print more money the idea is to print only as much as the increase in goods and services represents, so that the dollar retains a standard value.
>
> What Yellen and Biden have done is to immensely increased the amount of printed money rather than the goods and services. This means that in response, the prices on everything increase. In our case there is a slight lag because they can't print the money fast enough because the Department of the Treasury has designed a non-counterfeitable monetary system and making the paper and the printing of that paper very slow so it takes time to print "too much" money.
>
> But with the amount of money that Biden has spent Yellen has called for the printing of all of that extra money. You can't get something for nothing and the inflation has just started.
>
> Now there is another thing. A smart leader of the Federal Bank can only guess at the yearly increase in goods and services so they tend to OVERESTIMATE it. This is what causes "normal" inflation. But what is presently occurring is a growing printing of money that is making your earnings and savings worthless. And the people that are doing this ALL can simply give themselves raises and other benefits to compensate for the devaluation of our currency from overprinting.
>
> None of this is guessing - every part of it is pure unadulterated history. You think that Biden doesn't have a button that says "increase inflation"? Well he does and he hasn't pressed it, he has locked it in the ON position.
>
> I suggest you get any of the dozens of books by financial experts up to and including Nobel Prize winning economists who all do nothing more than repeat what I just said. They are all over the place and no one reads them because it is too dull for someone that prefers Harry Potter and the Half Blood Prince.
Tommy, you are not a very intelligent person at all. Too bad. If you had only applied yourself earlier in life, you might have made something of yourself. But I suspect its too late for you now.