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Economics Discuss Inflation hits 6-year high, wiping out wage gains for the average American at the Political Forums; Originally Posted by GetAClue The Federal Reserve raised the prime lending rate exactly once during the 8 years of the ...

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Old 08-06-2018, 07:41 PM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by GetAClue View Post
The Federal Reserve raised the prime lending rate exactly once during the 8 years of the Obama admin, yet they've raised it something like 4 times since Trump took office, with promises to raise it again a couple of times in the next year.

Now why would they do that knowing that it will affect the inflation rate? Hmmm.
we already have run away inflation. look at the prices. what they are doing with the fed I don't understand anymore. there's a whole new game. jamie dimon said in an article 10 yr treasury notes should be 5% by now.
but yes we are experiencing inflation.
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Old 08-06-2018, 07:42 PM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by GottaGo View Post
If one has only gotten a 2.9% increase in their wages in 6 years..... ah, I don't think I need to finish that statement....
yes you do because I'm clueless how it ends.
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Old 08-07-2018, 08:16 AM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by saltwn View Post
we already have run away inflation. look at the prices. what they are doing with the fed I don't understand anymore. there's a whole new game. jamie dimon said in an article 10 yr treasury notes should be 5% by now.
but yes we are experiencing inflation.
This is the most honest thing you've said on this forum.

Inflation is driven by many factors with the cost of bringing a product to market being one of the more significant reasons. When the Fed Reserve raises the prime lending rates, it drives up the cost of money to those that manufacture or providing goods/services. Therefore theirs costs go up and are passed along to the consumer.

However, one of the other key drivers to inflation is the minimum wage. This is where the government lowers the value of the dollar by decreeing that a persons time is suddenly worth more today than it was yesterday. This is done regardless of any productivity gains or efficiencies realized in their job performance. This is one of the main reasons that I oppose a minimum wage hike and the minimum wage concept in general. The market will always adjust and try to bring things into balance, but in the mean time, you lower the value of the dollar, hence leading to an artificial rise in inflation for no other reason than to garner votes from those directly affected.
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Old 08-07-2018, 08:51 AM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by Dave1 View Post
This is what cherry picking looks like above.....

~ Go back to before Obama won in 08 with two unfunded wars, a banking industry meltdown, a stock market crash and the worst job market since Clinton....

Wake up and tell the truth......
This is what deflection looks like. Confronted by the truth that the uptick in inflation is expected part of a resurgent economy the Resistance drones continue their mantra of doom.

It may have escaped your notice, but my comment was in response to the false charge that I was attacking Obama to defend Trump's performance managing the economy. After I reiterated the same query using benchmarks like GDP growth rates your response is to parrot the myth that Obama essentially saved us from the next Great Depression.

Time to face the truth that the so-called great recession ended in the fall of 2009 before Obama's massive spending orgy could take effect. Our President who before taking office had never so much as managed a hot dog cart and moreover disdained any kind of fiscal responsibility produced a moribund economy where the new norm was GDP growth of less than 2%, record dependence on Federal assistance and an administration resigned to maintaining and expanding bad trade deals. But hey, inflation was low so it's all good.

Again, no attempt to answer the question of what type of economy you prefer, one with robust growth like we have now or the moribund economy President Trump inherited? Please no more deflections into partisan attacks or Obama saved us with unicorns and rainbows, the Nobel academy all ready took care of rewarding him without justification.
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Old 08-08-2018, 04:34 PM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by Wry Catcher View Post
LOL Seriously ^^^? Defending the current President by putting the blame on Obama - 16 months out of office - puts your credibility in jeopardy.
I thought that was the s.o.p. after 8 years of "bu bu but Bu Bu Bush" from liberals.

2.9% is a nothing burger, if we want to see what real increases in inflation look like we would have to compare to day with Carter's numbers, 4.6% to over 12% in under 4 years. I'll take 2.9 all day long.
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Old 08-08-2018, 04:48 PM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by GetAClue View Post
This is the most honest thing you've said on this forum.

Inflation is driven by many factors with the cost of bringing a product to market being one of the more significant reasons. When the Fed Reserve raises the prime lending rates, it drives up the cost of money to those that manufacture or providing goods/services. Therefore theirs costs go up and are passed along to the consumer.

However, one of the other key drivers to inflation is the minimum wage. This is where the government lowers the value of the dollar by decreeing that a persons time is suddenly worth more today than it was yesterday. This is done regardless of any productivity gains or efficiencies realized in their job performance. This is one of the main reasons that I oppose a minimum wage hike and the minimum wage concept in general. The market will always adjust and try to bring things into balance, but in the mean time, you lower the value of the dollar, hence leading to an artificial rise in inflation for no other reason than to garner votes from those directly affected.
If you think minimum wage is driving inflation you fail to look at periods of deflation when we also had minimum wage.
run away inflation is taking place and minimum wage hasn't budged much in several years.
I was lamenting the system has changed and or is rigged in such away we no longer have the markers we once did that helped understand why.
For instance gas is plentiful but goes up.
btw trump is in favor of a weak dollar. that may be for personal gain.
but he wants that for some reason.
meanwhile if you want a strong economy quit focusing on minimum wage. that just throws you off looking for the real problem.
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Old 08-09-2018, 08:34 AM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by saltwn View Post
If you think minimum wage is driving inflation you fail to look at periods of deflation when we also had minimum wage.
run away inflation is taking place and minimum wage hasn't budged much in several years.
I was lamenting the system has changed and or is rigged in such away we no longer have the markers we once did that helped understand why.
For instance gas is plentiful but goes up.
btw trump is in favor of a weak dollar. that may be for personal gain.
but he wants that for some reason.
meanwhile if you want a strong economy quit focusing on minimum wage. that just throws you off looking for the real problem.
My point about the minimum wage was to highlight a great example of things that would artificially inflate the dollar, thus driving inflation. It was a real world example that is easy to understand for those that are intellectually challenged.

I see it went right over you head.

As for your assertion about the market being "rigged", can you provide examples to back up your claim, or are you just doing your normal "drive by" with baseless accusations?
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Old 08-17-2018, 04:47 PM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

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Originally Posted by Dave1 View Post
This is what cherry picking looks like above.....

~ Go back to before Obama won in 08 with two unfunded wars, a banking industry meltdown, a stock market crash and the worst job market since Clinton....

Wake up and tell the truth......
Yes we know. BUSH Recession !!! It was over 2 months after Obama took office. The effects lingered for 8 years because of OBAMA. That is why the Feds never raised rates.
they said the economy was NOT STRONG ENOUGH to support interest rate hikes. The stock market reacted to Trumps victory immediately, and the following month the feds raised rates because of the new optimism. That, Sir, is the truth

It's all about taxes and regulations. You know, you and all the other lefties can still use those Obama regulations if you want. And you can also pay more in taxes if you want.

Nobody is stopping you.
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Old 08-17-2018, 05:00 PM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

So tell me, when the tariffs end up working out in our favor, ( America's Favor ) how will the left spin that terrible news? Cause you know they will have to, and you and the other lefties will attack as you are told.

Do you have any ideas what you will say?

Or are all you folks just waiting for orders from Chuck and Nancy about what to think about it? I would guess you will wait until your told what to think about it.
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Old 08-17-2018, 08:41 PM
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Default Re: Inflation hits 6-year high, wiping out wage gains for the average American

Yes, inflation is rampant.

But that is hardly the president's fault.

In fact, his tax cut (of almost eight months ago) should help to ease the pain a bit.
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