Inflation accelerates 7.5% in January,............... · Page 2

Free Fall
Auctions

Specials
Auctions

QuickBuy
Auctions

Newly Added
Auctions

Ending Soon
Auctions

Welcome Guest

Forum Terms & Conditions | My Topics

rfenst
Herf-A-Holic

4 years ago

#21

I got money that I should not have received since my finances were not harmed when the economy locked up.
Pretty much fixed income, did not get let go from work, did not have business losses, etc.
But at least I know that both the current AND previous administrations sent those checks.
This was bipartisan dumb.

frankj1 wrote:

No. Those checks were not dumb. Maybe too much to too many but still not dumb. They kept food in peoples' mouths an roofs over their head. That kept our economy afloat and liquid enough to prevent an even worse recession or depression. Now, it's just time to pay up for the recession. It happens every time. Some inflation is to be expected unfortunately (but hopefully no more).

Dg west deptford
Herf-A-Holic

4 years ago

#22

It's the Catalina wine mixer !!!!

And Brandon is messing with my nut!

MACS
Herf-A-Holic

4 years ago

#23

rfenst wrote:

Necessitated by a gov't shutdown. Staying at work would have kept people fed.

bgz
Herf-A-Holic

4 years ago

#24

I think most of us knew we would have to pay for it eventually.

HockeyDad
Herf-A-Holic

4 years ago

#25

rfenst wrote:

Those checks were dumb. Massive debt to help cover for arbitrary self inflicted wounds.

They did not even give me any….just the bill.

bgz
Herf-A-Holic

4 years ago

#26

Thanks HD!!!

Much appreciated, *up high*.

Mr. Jones
Herf-A-Holic

4 years ago

#27

My bills are killing me...
Especially oil heating bills...

rfenst
Herf-A-Holic

4 years ago

#28

Anyone here bother to send their check(s) back?

rfenst
Herf-A-Holic

4 years ago

#29

My bills are killing me...
Especially oil heating bills...

Mr. Jones wrote:

How much has oil gone up over the last two years?

Sunoverbeach
Herf-A-Holic

4 years ago

#30

My father was stupid. He worked in a bank and they caught him stealing pens.
- RD

frankj1
Herf-A-Holic

4 years ago

#31

rfenst wrote:

I agree with you, but I wasn't saying the idea was dumb.
I was pointing out to posters before mine that it was not just Biden to blame.
It was dumb by both Administrations to send any money to people like me who were not impacted at all financially.

I didn't lose my job, didn't have pay or hours cut, the people that were hurt certainly needed the help.
But nothing changed in my household. Nothing changed for fixed income folks.
Nothing changed for people on public assistance either as far as I know.
But millions of working people were greatly hurt.

I did not need the handouts. It was wasteful.

BuckyB93
Herf-A-Holic

4 years ago

#32

frankj1 wrote:

I didn't lose my job or a get a cut in hours. The shut down didn't impact my finances or my job (I call it a job rather than work because I can't define working at Wally World as "work" other than "working to fight off the urge to dope slap people").

It actually increased in hours sporadically week by week. I have a good rapport with my higher ups and if they needed an extra body, they could call me to see if I'd like to come in. If wasn't doing anything important and they were in a pinch, I'd fill in where needed. I didn't want or need extra hours but we were (and still are) short staffed so I pitched in.

As I said in a previous post, I have no problem the government (and my tax dollars) giving a helping hand to folks that needed it in a time of crisis on a short term basis. There is a valid argument that can be made with 20/20 hindsight that it was self induced (lock down) chaos and we went too far. We all knew, unless you're a total dolt, that we'd be paying for it later. More specifically, our off spring will be paying for it. Nothing is free for those who work. Sadly there's a large group of folks that don't want to work and are rewarded for not working.

Anyone here bother to send their check(s) back?

rfenst wrote:

No I didn't. I split it in half and put in each of my kids accounts. After all, they are the ones that will have to pay for it eventually. Besides, I don't think there was an option to refuse it and be credited for it on future tax returns. If there was, the IRS would still prolly find a way charge you interest for it starting the time they mailed it out (or direct deposit) to the time they got around to process the refusal... this is govnerment logic, you'd polly get penalized for refusing it.

Edited by user 4 years ago | Reason: Not specified

Burner02
Herf-A-Holic Topic Starter

4 years ago

#33

[quote=BuckyB93 I split it in half and put in each of my kids accounts.

Good for you!

DrMaddVibe
Herf-A-Holic

4 years ago

#34

Anyone here bother to send their check(s) back?

rfenst wrote:

We didn't send it back, we paid it forward to a local family that lost their jobs due to the plandemic. We were one of I believe 5, maybe 6 families that did the same thing.

DrMaddVibe
Herf-A-Holic

4 years ago

#35

I'm waiting for the headline that the numbers have been manipulated and the government is using an "Emperor's New Clothes" accounting metric.

Suffer like it's 1982 — Bidenflation the worst in 40 years

The last time inflation was as bad as it is now, President Ronald Reagan was only finishing his first year in office.

Leonid Brezhnev was still alive and in charge of the Soviet Union. U2 was unknown in the United States, not yet having released the album War. The young company Apple was still two years away from launching its first Macintosh computer model.

That's how far back you have to go — February 1982 — to find a time when inflation was as bad as it was last month. It is now official that this is the worst inflation in 40 years. At 7.5%, prices are rising so quickly that they will double in less than 10 years if this rate of inflation continues.

Of course, Reagan inherited an inflation problem back in his own day. President Joe Biden, on the other hand, created his own inflation problem with the reckless spending that began his administration. With so many trillions already shoveled out the door in the form of COVID relief, Biden just couldn't resist the temptation to play Santa Claus himself. Inflation was the predictable result, and indeed one we predicted, due to a surge in deficit spending and the slowdown in production that occurred because of COVID-19.

Biden has spent the last few months attempting to compound his mistake further, spending another $5 trillion on his completely unnecessary Build Back Better boondoggle. Even now, knowing that inflation rose to 7.5% in January, Biden's White House is still calling on Congress to pass that bill, claiming, in contravention of all laws of economics, that it will make the problem better and not worse. Really? Is someone making use of all those crack pipes whose distribution to addicts Biden's Department of Health and Human Services just abruptly canceled?

The topline 7.5% inflation figure released on Thursday is quite close to the 12-month increase in the cost of groceries and restaurant food. Energy prices, however, are up a staggering 27% over the last 12 months. Electricity is up 11%. Natural gas is up 24%. Gasoline prices are up 40%.

In other words, there is no part of daily life that Bidenflation has not affected. Although workers' wages have gone up in nominal terms, they are not keeping up with the cost of everyday necessities.

At first, the Biden White House tried to maintain that the inflation problem was just temporary. That talking point has long since expired. This is becoming a crisis. The Federal Reserve will soon be forced to raise interest rates far more quickly than people are accustomed to, and to painful levels that haven't been seen in a generation.

For reference, mortgage interest rates had to top out above 13% before Reagan could beat inflation in the early 1980s. Could you even imagine that today? Can you imagine what it would do to the value of your home?

Biden inherited a rapidly recovering economy. All he had to do was get out of the way, let it happen, and claim credit. He couldn't manage that. Biden had an ideological vision that was more important than the nation's return to prosperity. Part of his agenda is to increase prices for fossil fuels, and another part is to give away massive government handouts, even if they cause inflation.

Consumers are now suffering the bitter results of bad policy decisions on his part. To borrow and tweak one of Reagan's old adages, economic recovery will only begin with job loss — that is, whenever Biden and most of the Democrats in Congress lose their jobs.

https://www.washingtonexaminer.com/opinion/editorials/suffer-like-its-1982-bidenflation-the-worst-in-40-years?u

In other words, I believe it's worse than we're being told.

Edited by user 4 years ago | Reason: Not specified

Burner02
Herf-A-Holic Topic Starter

4 years ago

#36

We didn't send it back, we paid it forward to a local family that lost their jobs due to the plandemic. We were one of I believe 5, maybe 6 families that did the same thing.

DrMaddVibe wrote:

👍

Mr. Jones
Herf-A-Holic

4 years ago

#37

My bills are killing me...
Especially oil heating bills...

Mr. Jones
Herf-A-Holic

4 years ago

#38

The Last tank fill of 165 gallon s was at $3.399 a gal..
Approx. $554.00 if I remember right...and that was in early December...it prolly gone by now...I think I'm below half a tank for sure?
They hold 275 gal but only 250 really...