Americans Feel The Heat As Bidenflation
Climbs Toward 20%
Tipp Insights,
by
Editorial Board
Original Article
Posted By: Moritz55,
7/13/2024 10:30:14 AM
The dark reality of Bidenomics is the alarming 19.5% inflation under the President’s watch, which is 5.7% annually. When he took office, inflation was at just 1.4%. Since March 2021, inflation has consistently remained above the Federal Reserve's 2% target for 40 consecutive months.
Under Biden, the federal debt has increased by $6.9 trillion. To finance his spending spree, the Federal Reserve printed money from nothing. The increased money supply, without a corresponding increase in goods and services, reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.
Post Reply
Reminder: “WE ARE A SALON AND NOT A SALOON”
Your thoughts, comments, and ideas are always welcome here. But we ask you to please be mindful and respectful. Threatening or crude language doesn't persuade anybody and makes the conversation less enjoyable for fellow L.Dotters.
Reply 1 - Posted by:
Krause 7/13/2024 11:14:21 AM (No. 1755455)
In addition, you have illegal unknown people and lethal drugs coming over our wide open border, lax on crime policies, and all around incompetence and corruption. Other than that....
14 people like this.
Reply 2 - Posted by:
Cardsfan 7/13/2024 11:14:46 AM (No. 1755456)
Can’t recall a “reporter” pointing this out to Biden during his Big Boy event.
15 people like this.
Reply 3 - Posted by:
Quigley 7/13/2024 11:15:02 AM (No. 1755458)
This is an extremely interesting article. It explores the difference between the rate of inflation and absolute price levels. Joke Bidet will brag about the inflation rate coming down to 3%, but meanwhile I am still paying $120 for things I paid $100 for when he took office. And 3% of 120 is more than 3% of 100. And my wages have yet to readjust to the higher cost of living. Of course, if I had a house and a 2.9% mortgage, my net worth has probably increased a lot and I can ignore the higher cost of home financing.
So, as usual, Joke has hurt the people too poor to have an asset.
It is Joke's Delaware law where all the credit card companies set up to charge those 30% interest rates. When did credit cards start having 30% interest rates?
The Joke's on US.
11 people like this.
Reply 4 - Posted by:
DVC 7/13/2024 11:15:12 AM (No. 1755459)
The report released yesterday said 20.1% inflation. Not 'climbing towards', already passed 20%.
And the "Inflation Reduction Act" is accelerating the inflation by excessive, unfunded government spending which causes MORE inflation, not less.
15 people like this.
Reply 5 - Posted by:
rytwng 7/13/2024 11:20:54 AM (No. 1755464)
Pervert Biden should be in prison.
10 people like this.
Reply 6 - Posted by:
Kafka2 7/13/2024 11:20:55 AM (No. 1755465)
I believe that the inflation experienced by the majority of Americans is over 20% and closer to 30%. Having a group of economists claiming that spending an extra $4 trillion on Progressives dream programs is not inflationary doesn’t make it so. It is delusional. The claim that Bidenomics is good for the economy is deplorable.
13 people like this.
Reply 7 - Posted by:
jalo1951 7/13/2024 11:23:10 AM (No. 1755469)
We are tired of being f - ed by this administration. Tired of being called knuckle dragging idiot domestic terrorists. Inflation happens every month. It is then added to all the OTHER months consecutively. Just because June numbers are a fraction lower it does not mean prices are lower it just means that they are continuing to rise a tiny bit slower. 20% or more on EVERYTHING. We are spending $1,000 a month more because of Bidenflation. Add this to all the other asshat ideas they have shoved down our throats and we are tired of being tired. This is a clown car administration that is flushing America down the toilet. We are circling the bowl. FJB and when I type that I really mean it. We all can list 50 other reasons to get rid of this joker. It's not just his economic policies that are killing us.
18 people like this.
Reply 8 - Posted by:
Ida Lou Pino 7/13/2024 11:38:47 AM (No. 1755480)
Once again - - the feckless Pubbies fail to communicate this inflation properly.
What 20% inflation means - - is that you work hard for four days - - Monday through Thursday - - and you get paid for it. But then you work just as hard on Friday - - but you don't get paid - - because the money goes to inflation.
Bidenflation - - Work Five Days - - Get Paid For Four.
Why can't the Pubbies explain it with that simple slogan?
14 people like this.
Reply 9 - Posted by:
LC Chihuahua 7/13/2024 12:00:23 PM (No. 1755490)
fta...Under Biden, the federal debt has increased by $6.9 trillion. To finance his spending spree, the Federal Reserve printed money from nothing. The increased money supply, without a corresponding increase in goods and services, reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.
Nice to see someone saying this out loud. They devalued the dollar. The government gets more tax revenue (in theory), but it does not help since everything costs more. Even for the government.
When do we start talking about hyperinflation?
Btw, this isn't just Biden. He is a figurehead. This is the Washington DC culture of out of control spending. It's both parties, and has been going on for decades. How can anyone support this? How can anyone support what is going on in Washington DC?
8 people like this.
Reply 10 - Posted by:
LadyHen 7/13/2024 12:33:55 PM (No. 1755508)
Those numbers are way below my everyday calculations.
I use Instacart for grocery picks up and occasional deliveries so I went back and put into my shopping cart the exact same items from a small order I placed 5/25/2020. That order totaled $51.98 just for the groceries, no fees or tips or taxes. At todays prices from the same store on the same items it is $70.91. A 36% increase in just a touch over 4 years on the same items.
Let's say a family spent $150 a week on groceries in 2020. That bill would now in 2024 be $204 a week or over $2800 more a year.
I went back and looked at ground beef and a bag of frozen chicken tenders as well, arguably traditionally some of the most family budget friendly choices available for meat.
Ground beef (Kroger)
2020 price $4.49lb, 2024 price $5.99 lb... 33% increase
Chicken (40oz bag) (Aldi)
2020 $6.05, 2024 $8.79 (45% increase)
9 people like this.
January 2021--- the month Vegetable occupied our White House--- the price of one gallon of gasoline at my neighborhood stations was $2.15. I worte in down at the time..... I knew I would be referencing it later.
Don't gaslight me about inflation.
6 people like this.
Reply 12 - Posted by:
lynngirl122 7/13/2024 12:40:28 PM (No. 1755514)
I spent 26 dollars for a chicken this Easter.
3 people like this.
Reply 13 - Posted by:
DVC 7/13/2024 12:47:38 PM (No. 1755519)
Re #3, prices pretty much come down, the inflation just adds up. 5% increase on $25 item means you will pay $26.25. If inflation goes down to ZERO, you'll still be paying $26.25 for that $25 item, forever...unless inflation continues. If there is 6% inflation the next year, and that $26.25 item is now $27.83. Add in another year of 9% inflation and that $25 item will be $30.33. Welcome to Joe's economy.
And if we elect Trump, and he does not follow his first term excessive spending, we MAY get inflation back to say 2% after a while. So that "$25 item" that you remember will be only $30.94 under 2% inflation. But if Joe and the Dem Inflators stay in office, with a 7% year, the "$25 item" will then be $32. 45.
Don't count on the "$25 item" ever being $25 again.
Deflation does exist, has actually happened here during the Great Depression but is rare, primarily because governments cannot resist spending more money than they have, which creates inflation.
Deflation can happen when prices actually are generally falling. This can be caused by a shortage of money, like inflation is caused by an excess of money. Deflation happened in the years of 1930-33 because banks failed and people could not get their money held in banks out, so there was a huge shortage of money.
People couldn't spend on anything that they didn't absolutely need, typically the basics of food and housing, and even then in minimal amounts. And many were holding their cash reserves that had not been in banks 'for an emergency' since they couldn't get any of their savings out of a collapsed, out of business bank. So, lots of goods, deemed non-critical, were left on the shelves, and merchants, getting desperate to sell SOMETHING, lowered prices and didn't purchase much new inventory...shelves were already full. So manufacturers stopped making goods they couldn't ship, and laid off workers.....who then had even LESS money to buy things.
Vicious circle.
And along came FDR to save them....and made it all much worse with every single program that he came up with.
5 people like this.
Reply 14 - Posted by:
jasonB 7/13/2024 12:57:54 PM (No. 1755523)
I am NOT voting for Biden.
He is a horrible President, father and person.
He is also NOT the only one spending this money. If/when Trump is president again, I hope everyone on here screaming about ridiculous spending (rightfully so!) will raise Holy Hell if Trump signs a single bill that spends billions/trillions more than the Gov takes in.
I'm not spouting this without history of it happening.
5 people like this.
Reply 15 - Posted by:
DVC 7/13/2024 1:50:10 PM (No. 1755557)
Sorry about #13....the "never" got removed accidentally in the first sentence.
Prices pretty much never come down.
And #10's everyday food price check is a very good comparison. EVERYONE is paying around 1/3 more for food, and everyone knows it, and is unhappy about it.
The Dems have wrecked the economy, and don't care....they are keeping the gas pedal flat on the floor as we accelerate towards the cliff.
6 people like this.
Reply 16 - Posted by:
3XALADY 7/13/2024 2:32:10 PM (No. 1755583)
And it is not helping that trillion$$$$ of taxpayer funds are being spent on illegals.
5 people like this.
Reply 17 - Posted by:
downnout 7/13/2024 8:43:54 PM (No. 1755796)
We zipped over to Chick-fil-a late this afternoon and we’re surprised at how few cars were in the drive-through. It’s usually packed. Another indication that people are hurting.
1 person likes this.
Reply 18 - Posted by:
JimBob 7/14/2024 12:09:20 AM (No. 1755968)
I recall a few years ago -before the 'Rats too over- someone proposed a budget for something- I don't remember what, where the funding increased, but the rate of increase was reduced somewhat.
The Lamestreams went Apoplectic, condemning this person for 'Pushing Grandma Off A Cliff' and all the other usual garbage. So.... for a politician it's really swimming upstream to try to control spending.
However, I completely agree that this out-of-control spending is wrecking our country.
Remember what Lenin said: "The Surest Way to Attack the Capitalist State is to Debauch the Currency."..... and that is EXACTLY what the Federal Government is doing.
I think the Media is well aware of what is happening, and they support it by whipping up the 'Gimme-Dats' to "Demand ACTION!" any time it looks like someone is trying to slow down the Gravy Train.
Perhaps one way to make it more politically palatable to reduce spending is to tell the younger people, over and over and over until it sinks in;
"YOU are the ones that are going to PAY for this.... your ENTIRE LIVES!"
0 people like this.
Reply 19 - Posted by:
mifla 7/14/2024 5:08:16 AM (No. 1756054)
KJP: "All is well. All is well. You people are just too stupid to realize it."
0 people like this.
Below, you will find ...
Most Recent Articles posted by "Moritz55"
and
Most Active Articles (last 48 hours)
Comments:
Solid information