Tax on the poor?: What's the cause of USA inflation?

[GammaGlobulin]

Dear Fellow Sufferers,

 

What’s the cause of rampant inflation in the USA?

 

Please don’t quote me esoteric Economic Theory.

 

We ALL know that Economic Theory is mere Mumbo-JUMBO, with a capital J.

 

And, there are those, such as that High-Priestess Greenspan who spout all sorts of Mumbo_Jumbo, just to favor one group over another group, especially in the USA.

GreenSpan:  Genius or Economic Twit?

 

a. So why must we suffer the likes of Greenspans?

b. Is inflation nothing more than a tax on the poor and middle class?

c. Why can’t we poor buy Picassos and Van Goghs, so that we, too, like the rich, may become inflation-proof?

 

Need to know!

Because, at this rate, things just might continue to deteriorate.

 

Regards, but not BEST regards,

Gamma

 

Note:  What do YOU think will be required for the USA to become a much more egalitarian and just society, one in which the common man may thrive in this “Home of The Brave” we once truly enjoyed?

 

[Dcheech]

42 minutes ago, GammaGlobulin said:

What’s the cause of rampant inflation in the USA?

Jesus Wept.

 

Have you not noticed inflation in Thailand? You have not noticed that worldwide inflation bedevils countries from China to Canada, Albania to Argentina today? Next rhetorical question,  did you notice another worldwide event in the last five years, something besides the ever-growing WOKE menace.  ...... Say a Virus?

Every country in the world was pumping money into their economy to keep it chugging down the road and not spiral into recession/depression. When confronted with a pandemic, or lockdown, like the recent worldwide virus originating in Wuhan China. Countries pump money into the economy to keep people spending, to keep the economy from locking up. The by product is inflation and yes it is worldwide. NOTE recent US campaign rhetoric aside (as in Bidenomics) Trump started doing exactly this in his last year, 2020. No real choice, it is the only economic answer that might work. Biden continued it. This is a no brainer as only one economic theory works in these conditions  - just deal with it - 'Keynsian economics'. as true today as it was in the 1930's and one that conservatives and liberals use. Conservatives just don't like to talk about it, but they use it. 

Recession/Depression - or - Inflation?

It is not even a choice GG

 

 

[jas007]

2 minutes ago, Dcheech said:

'Keynsian economics'. as true today as it was in the 1930's and one that conservatives and liberals use. Conservatives just don't like to talk about it, but they use it. 

 

We may soon find out if Keynesian economics has run its course.  Not because the powers that be don't like the idea of printing more and more money every time they need it, but because the theory itself is BS.

 

Personally, I'm a fan of kicking the can down the road for as long as possible.  I don't have a say, though.  I'm just an observer. 

 

Maybe it's time for a depression?

[KhunLA]

Pure GREED & control ... and reason for most of it IMHO

... healthcare, beyond silly priced

... fossil fuel ... wind fall profits ... nuff said

... Tax, nothing but corruption (defense) & waste

... RE, pure greed, and BlackRock will own everything soon

[GammaGlobulin]

24 minutes ago, Dcheech said:

Jesus Wept.

 

Have you not noticed inflation in Thailand? You have not noticed that worldwide inflation bedevils countries from China to Canada, Albania to Argentina today? Next rhetorical question,  did you notice another worldwide event in the last five years, something besides the ever-growing WOKE menace.  ...... Say a Virus?

Every country in the world was pumping money into their economy to keep it chugging down the road and not spiral into recession/depression. When confronted with a pandemic, or lockdown, like the recent worldwide virus originating in Wuhan China. Countries pump money into the economy to keep people spending, to keep the economy from locking up. The by product is inflation and yes it is worldwide. NOTE recent US campaign rhetoric aside (as in Bidenomics) Trump started doing exactly this in his last year, 2020. No real choice, it is the only economic answer that might work. Biden continued it. This is a no brainer as only one economic theory works in these conditions  - just deal with it - 'Keynsian economics'. as true today as it was in the 1930's and one that conservatives and liberals use. Conservatives just don't like to talk about it, but they use it. 

Recession/Depression - or - Inflation?

It is not even a choice GG

 

 

 

Thank you for your good answer.

 

But, I have a choice.

I can stop buying.

It's not that I do not have the money to buy at inflated prices.

It's just that I feel rather scammed when I buy.

 

I also do not buy into the theory, or any theory, that mistakenly states that there is no better solution.

 

Yes, Biden and Trump, in some respects, are birds of a feather.

Although, knowing this, I prefer Trump.

 

[GammaGlobulin]

37 minutes ago, KhunLA said:

waste

 

Waste is getting out of hand.

 

I recall that my grandfather would save bits of string for a rainy day.

Who does this now?

 

Still, it is not, so much, waste that is causing the rampant inflation we witness today.

 

[GammaGlobulin]

31 minutes ago, Dcheech said:

Jesus Wept.

 

Have you not noticed inflation in Thailand? You have not noticed that worldwide inflation bedevils countries from China to Canada, Albania to Argentina today? Next rhetorical question,  did you notice another worldwide event in the last five years, something besides the ever-growing WOKE menace.  ...... Say a Virus?

Every country in the world was pumping money into their economy to keep it chugging down the road and not spiral into recession/depression. When confronted with a pandemic, or lockdown, like the recent worldwide virus originating in Wuhan China. Countries pump money into the economy to keep people spending, to keep the economy from locking up. The by product is inflation and yes it is worldwide. NOTE recent US campaign rhetoric aside (as in Bidenomics) Trump started doing exactly this in his last year, 2020. No real choice, it is the only economic answer that might work. Biden continued it. This is a no brainer as only one economic theory works in these conditions  - just deal with it - 'Keynsian economics'. as true today as it was in the 1930's and one that conservatives and liberals use. Conservatives just don't like to talk about it, but they use it. 

Recession/Depression - or - Inflation?

It is not even a choice GG

 

 

 

 

Would you agree with my friend Chomsky?

 

 

 

[jas007]

Milton Friedman has the right idea:

 

 

[GammaGlobulin]

The fundamental problem is that Economics remains just a pseudo-Science.

 

All pseudo-Sciences cause confusion.

 

One might just as well worship the Sun, as worship GreenSpans, and his fellows.

 

Anyone here believe that Economics is a .....SCIENCE??????

 

Or, is it a religion?

 

 

 

[GammaGlobulin]

42 minutes ago, KhunLA said:

RE, pure greed, and BlackRock will own everything soon

 

Is BlackRock just another....

 

Milo Minderbinder?

 

 

[GammaGlobulin]

What about the encouraging of mindless-consumption of unneeded garbage as an illogical and temporary solution for propping up the economy?

 

Does this ever work in the long-term?

 

Are you for or against garbage-consumption influenced by pervasive ads that try to sell you all the Junk under the Sun?

 

How resilient are you to these influences?

 

And, what benefit does the economy derive from this illogical behavior, assuming there actually IS any benefit.

 

And, how does this behavior destroy your lives, knowing that you live to consume, instead of consume to live?

 

 

[GammaGlobulin]

Ahem.....!

 

What fraction of the working poor focus on graphs such as this one?

 

 

Or this.....?

 

Why does Wall Street hate Chomsky....anyway?

 

[Lacessit]

Too much money chasing too few goods and services.

 

I'm sorry, that's about as non-esoteric as I can get.

[Jingthing]

It's basically hopeless.

An American politician can't even whisper economic inequality without being red baited.

[GammaGlobulin]

1 minute ago, Lacessit said:

Too much money chasing too few goods and services.

 

I'm sorry, that's about as non-esoteric as I can get.

 

So then, for some reason, you are discounting the effects of unbridled monopolists?

 

[GammaGlobulin]

3 minutes ago, Jingthing said:

It's basically hopeless.

An American politician can't even whisper economic inequality without being red baited.

 

You are correct....once again!!!!!

 

It's almost as if the common man, the average consumer, is trying to shoot himself in the foot.

 

So, in effect, we are talking RELIGION, here?

 

 

[Lacessit]

1 minute ago, GammaGlobulin said:

 

So then, for some reason, you are discounting the effects of unbridled monopolists?

 

Not at all, monopolies create artificial scarcities and jack up prices.

[GammaGlobulin]

5 minutes ago, Lacessit said:

Too much money chasing too few goods and services.

 

I'm sorry, that's about as non-esoteric as I can get.

 

Let's not forget that IF economists were able to do so....

Then...

They would be speaking in tongues, or in ancient Greek, or old Latin...instead of their usual esoteric language....

Anything to confuse and obfuscate important issues that affect the well-being of the majority.

  

 

[GammaGlobulin]

4 minutes ago, Lacessit said:

Not at all, monopolies create artificial scarcities and jack up prices.

The important question is: Do most?

 

And, can you provide some elucidating examples for your statement?

 

(Sorry, I misread your statement.  Thought you said: Not all, in stead of Not at all.)

 

 

 

[Lacessit]

Just now, GammaGlobulin said:

 

Let's not forget that IF economists were able to do so....

Then...

They would be speaking in tongues, or in ancient Greek, or old Latin...instead of their usual esoteric language....

Anything to confuse and obfuscate important issues that affect the well-being of the majority.

  

 

It's called the dismal science for a reason.

 

I'll stick to physics and chemistry, at least they make sense.

[GammaGlobulin]

1 minute ago, Lacessit said:

It's called the dismal science for a reason.

 

I'll stick to physics and chemistry, at least they make sense.

 

Fortunately there IS Science.

We can always agree to agree about the importance of the Natural Sciences, I believe.

 

[G_Money]

3 hours ago, GammaGlobulin said:

Dear Fellow Sufferers,

 

What’s the cause of rampant inflation in the USA?

 

Please don’t quote me esoteric Economic Theory.

 

We ALL know that Economic Theory is mere Mumbo-JUMBO, with a capital J.

 

And, there are those, such as that High-Priestess Greenspan who spout all sorts of Mumbo_Jumbo, just to favor one group over another group, especially in the USA.

GreenSpan:  Genius or Economic Twit?

 

a. So why must we suffer the likes of Greenspans?

b. Is inflation nothing more than a tax on the poor and middle class?

c. Why can’t we poor buy Picassos and Van Goghs, so that we, too, like the rich, may become inflation-proof?

 

Need to know!

Because, at this rate, things just might continue to deteriorate.

 

Regards, but not BEST regards,

Gamma

 

Note:  What do YOU think will be required for the USA to become a much more egalitarian and just society, one in which the common man may thrive in this “Home of The Brave” we once truly enjoyed?

 

Greenspan hasn’t been with the Federal Reserve in almost 19 years Bob.

[GammaGlobulin]

1 minute ago, G_Money said:

Greenspan hasn’t been with the Federal Reserve in almost 19 years Bob.

 

Please feel free to choose from any one of the other bright lights of Greenspan's ilk.

 

[Lacessit]

1 minute ago, GammaGlobulin said:

The important question is: Do most?

 

And, can you provide some elucidating examples for your statement?

 

 

Musk and Tesla are well on their way, with the tariffs on Chinese EV's.

 

I remember a manufacturer of steel mill lubricants who created a monopoly in Australia.

 

Some of their marketing involved a boat cruise on Sydney Harbor for senior management. The boat was well stocked with food, booze, and prostitutes.

[GammaGlobulin]

1 minute ago, Lacessit said:

Musk and Tesla are well on their way, with the tariffs on Chinese EV's.

 

I remember a manufacturer of steel mill lubricants who created a monopoly in Australia.

 

Some of their marketing involved a boat cruise on Sydney Harbor for senior management. The boat was well stocked with food, booze, and prostitutes.

 

I think Musk may be too busy, these days, to hang with prostitutes.

 

[scottiejohn]

37 minutes ago, GammaGlobulin said:

 

Fortunately there IS Science.

We can always agree to agree about the importance of the Natural Sciences, I believe.

 

I think you meant to say "We can always agree to agree and/or disagree about the importance of the Natural Sciences

[Jingthing]

45 minutes ago, GammaGlobulin said:

 

You are correct....once again!!!!!

 

It's almost as if the common man, the average consumer, is trying to shoot himself in the foot.

 

So, in effect, we are talking RELIGION, here?

 

 

This video speaks to this topic and yes it is critical of both red and blue but is clear that giving power back to Trump was definitely NOT the answer.

 

 

[GammaGlobulin]

1 minute ago, scottiejohn said:

I think you meant to say "We can always agree to agree and/or disagree about the importance of the Natural Sciences

 

No.

My statement, as originally posted, stated my meaning.

Meaning is important these days.

I meant what I said, and I said what I meant, in this case.

 

[GammaGlobulin]

5 minutes ago, Jingthing said:

This video speaks to this topic and yes it is critical of both red and blue but is clear that giving power back to Trump was definitely NOT the answer.

 

 

 

Still, the way Trump is dressed, he reminds me of Father Christmas, so bright is he lit up, almost like a Christmas tree.

Almost blindingly bright.

And, to quote an old tune....

BLINDED BY THE LIGHT.....

 

[pomchop]

Greed....fueled by too many people that do not know the difference between what they need and what they want.