Inflation rose 8.6% in May, highest since 1981

[JT-Money]

Republicans will vote against anything they propose.

They tried to rig the economy to speed up growth coming out of the pandemic but it backfired. Then did nothing to correct the mistake until it was too late. This is on Biden for giving Powell a 2nd term after that stock scandal at the Fed.

How Did They Get Inflation So Wrong?

Yes, the stimulus was too big. But that’s not the main reason prices are through the roof.

www.theatlantic.com

 

[Youhadasparkwhenustarted]

price gouging

Companies: We're making record profits, amazing!

Also companies: fukk you mean you need a wage bump we can't pay you!

 

[Geek Nasty]

Joe Biden is a historically bad president. He's a Democratic GW Bush Jr.

You must be young. Biden isnt on the same side of the map as Bush II, Trump, or Reagan. I’m willing to go point by point with you too.

 

[Sauce and Footwork]

I was really excited 6 months ago before I started my new job thinking the pay was really good. 6 months later I’m already applying for new jobs. Rising cost of food and gas has been killing me. If I was single maybe it would be feasible . But I have kids and a wife, so I’m feeling it. It’s time to move on. I’m way too stressed out. Props to all my brothas and sistas out here taking care of they fams.. and even y’all just trying to take care of yourself. America is fukked up lol. These companies don’t care about these employees or they customers either. We don’t even have to discuss the government lol

 

[Koli_Kat]

Shouldve never closed anything in the first place. What happened to good ol capitalism?

Exactly. Capitalism is only cool when the people are struggling

 

[Bubba T]

Was this not expected with all the stimulus money we were getting ?

Or is this something else ?

The stimulus money is a drop in the bucket compared to what the government spends on a non-pandemic year lol. There are several reasons why inflation has increased

 

[Rekkapryde]

The better option is to tax the fukk out of the rich but they will do anything besides that.

The tax rates on the rich before 1980 was like 70% on income over 107k (431k in today’s dollars)

They need to go back to those old rates and stop letting corporations and the rich get away with murda

Historical Federal Individual Income Tax Rates & Brackets, 1862-2021

How do current federal individual income tax rates and brackets compare historically?

taxfoundation.org

 

[null]

I mean, everyone called it when they were printing money during the pandemic.

the official line is that that printing is not inflationary because they are loans and they do not enter the high street economy.

some argued that they do through liquidity for other lending, the stock market and perpetual-rollover no longer being a loan.

i need to catch up with what george gammon is saying these days.

edit:

Spoiler: NSFL

 

[ViShawn]

Glad I switched roles before all this

 

[Lonj]

Most people don't know how truly bad things are going to get.

 

[Tribal Outkast]

 

[JT-Money]

Glad I switched roles before all this

Saw this coming and switched jobs last fall for a huge salary increase. While cutting spending at the same time and paying down all my debt.

All the while every female I know is still spending money like crazy. And doesn't even pay attention to financial market news.

 

[Black Lightning]

Democrats are going to get mollywopped in the midterms.

 

[Tribal Outkast]

Businesses that lost money during covid, tryna get it back. Supply chain issues. War between russia and ukraine

Been saying this. People thought these fools were just going to let the shutdown happen and not try to re-up? Remember when business owners were protesting when the shutdown happened, then they protested when these soft reopening sd happened. They’re quiet now. I wonder where they are now

 

[Still Benefited]

They tried to rig the economy to speed up growth coming out of the pandemic but it backfired. Then did nothing to correct the mistake until it was too late. This is on Biden for giving Powell a 2nd term after that stock scandal at the Fed.

How Did They Get Inflation So Wrong?

Yes, the stimulus was too big. But that’s not the main reason prices are through the roof.

www.theatlantic.com

Exactly,Powell clearly was extorted or comprimised by Trump. Trump spent his entire time in office pumping and manipulating the stock market. Or it at least appeared that way.

Powell was making moves to keep his job.