Today In Biden Land

[TitoFan]

Yep. Biden's too old to serve another term. Some of us agree with that.

[NoSavingByTheBell]

Food for thought

https://youtube.com/shorts/7Av6y-uVc...t87vBrAYNma8Gj

[NoSavingByTheBell]

https://youtube.com/shorts/EXSGGtgzO...h6R5ubwJNaxXdK

[NoSavingByTheBell]

Ready for another round?

https://madmaxworld.tv/watch?id=64ef...247075b9ea3b1b

[Kirkland Laing]

The New York Fed's inflation gauge that attempts to capture the underlying trend of inflation, called the "multivariate core trend," fell to less than 2.8% in July (June was revised down to 2.8% from 2.9%) This is the lowest reading since January 2021

https://twitter.com/NickTimiraos/sta...36065292914969

This is close to the Fed's two percent target. Central banks all target two percent inflation as it allows stable economic growth at that level. Since the 2000s it's been stuck at one point something or less. Not even huge increased government spending coupled with tax cuts coupled with super low interest rates during the Trump years managed to get it above two percent. The pandemic changed that but it's subsided nicely since then.

[NoSavingByTheBell]

It's a complete joke because they don't count food or rent, the two most important things to most regular people

[Kirkland Laing]

It's a complete joke because they don't count food or rent, the two most important things to most regular people

It does in fact include rents which are down about one percent over the past year.

What it doesn't include are food and energy prices which are volatile and governed by things that aren't affected by government policy, monetary policy and interest rates so they're left out and they're left out under every president or administration to give the financial industry and the Fed and the Treasury, the people who really matter, accurate information on inflation and its sources.


What do you think might happen to inflation in America should an authoritarian government take power? These kind of right wing governments don't have the best track record as far as inflation goes. Triple digits is actually on the good side of average outcomes. Add on there's never been an economy in the world ever that is so geared to rule of law, limited government interference, freedom of movement and so on and all of these things would be swept away by such a government causing significant inflationary pressures. What do you see as the positives from such a government that would outweigh the various negative effects it would have?