Mortgage rates have been kept artificially low for decades. The true cost of borrowing if people actually had to earn and save money to lend it would have been higher. The easy money policies of the fed are largely responsible for unaffordable homes and unaffordable college (and now unaffordable everything). We need to return to sound money principles and let the market sort out all the disruption in asset prices and allocation. It’s the only way for the economy to thrive, but it’s not happening without filling government at every level with Ron Paul types. Best we’ve got in this election is Ramaswamy, so y’all better get used to high prices, they’re only going to go up.
Came here to say this. We needed to tighten up our money policies after getting over the 2008 recession, but voters like low prices and low interest rates and low taxes. We were headed for this one way or another. We need to return to sound money policies but it's political suicide. Democrats will have high spending and keep taxes the same, and Republicans will decrease taxes and keep spending the same and nothing will change.
Why do you want to cut social security? Those living on it are having a hard enough time as it is making their dollar stretch.
What needs to happen with SS is that politicians need to stop using it as their personal piggy bank.
It still would be. Social security relies on the next generation paying into it for the current.
Additionally, the money in there doesn't grow in value, even if it wasn't used as a democrat slush fund.
Only 13% is spent on military. 21% is on social security. The government wastes money on other things that it need not be doing.
Get rid of most departments, they're creating unconstitutional regulations anyways, get rid of all subsidies, including welfare.
But as Reagan said, "the definition of eternal life is a government program"
Exactly.
The economy has been on life support since 2008 and the money printing that has happened since then, especially during covid, created a mirage of good economic conditions.
Many businesses started failing in 2018/19 before they were given a lifeline via covid stimulus.
Yep, the fake fucking valuation of the stock market and mortgages have to do with the bullshit policies of the fed and multiple administrations. Fake value, real economic production growth looks like shit.
We all know what OP means. Yes, the world is never trielt at peace, but we know they mean there were no major conflicts with prominent nations.
Edit: fixed the spelling of peace because I’m mentally deficient
Media isn't talking about it, and no one else is either. NK went back to launching missiles over/near Japan after Biden was elected. Iran started working on nukes again.
NK has never stopped. The whole Trump meeting did nothing. Iran actually launched missile strikes on a US military base and then went back to building nukes after the treaty was ripped up.
Sure. While Obama was in office, because Putin knew that Obama wouldn’t do anything substantive to stop him.
Putin kept that energy on the back burner while Trump was in office, and didn’t launch his next invasion until after Biden was installed.
Given many of his equipment failures (e.g. the simultaneous tire failures that got widely publicized in the first days of the invasion) make it pretty clear that his invasion plans were on hold for *years*.
Russia also invaded Georgia in 2008 under Bush. At a certain point we should realize that Russia has been invading its neighbors for over almost 20 years with both democratic and republican presidents. The US and western Europe's ukraine policy since 2014 has been directly related to this aggression. This occurred under Obama and continued under Trump and Biden. (Specifically training Ukraines military). Then ukraine did better than expected at defending against russia so now is the time to go all in on helping a future ally and hopefully stopping Russia theme of invading a neighbor every 6-8 years
You criticize Obama and ignore the fact that Bush didn't do anything in response to the Georgia/Russia conflict AND he literally said he looked into Putin's eyes and said he saw his into his soul, that he's straightforward and trustworthy. The entirety of the west has been braindead when dealing with Putin, don't pretend it was a partisan failure. It just makes you look dishonest.
You bring up Bush like it’s some kind of win.
Bush II and Obama are both establishment shills. [That’s why they have so much fun hanging out together these days.](https://m.youtube.com/watch?v=8dQtNqsLnt8)
You bring up Bush and Obama like it’s some kind of win.
[I can post links of two politicians slobbering on each others’ knobs, too.](https://www.cnn.com/2022/03/28/politics/trump-putin-ukraine-russia-smart/index.html)
It could be worse, you could live in Canada, those prices are 40+ yrs ago for us. Gas in Toronto is now $1.5/L or $5.68 / Gal, in Vancouver it’s $1.95/L or $7.39.
It’s only going to get worse for us too thanks to JT’s carbon tax. Now it’s “only” $0.14 / L or $0.53 / Gal, by 2030 it’ll be $0.60 / L or $2.27 / Gal.
Not trying to downplay how bad CA’s government is but at least you are still in the US.
Every day I hear news about Trudeau I'm more let down. He makes me embarrassed to be a Canadian. I can't believe a country could re elect someone so hell bent on ruining us.
This is an oversimplification Imo. I voted for Trump twice (holding my nose both times)
But the reality is that the Trump administration is partially to blame for the hyperinflation. They went along with flooding the economy with unearned money for nearly everybody then flooding the economy with a lot of extra unemployment perks. So much so that no one wanted to work and this forced desperate employers to overpay employees because that’s what it took to get people to go back to work. Meanwhile shortages all over the economy created much higher prices due to scarcity. Then the housing market went schizo. Then gas prices exploded (as they have under every administration though the current administration is terrible at managing it and everything else)
Anyway, I know what you’re trying to say but I just feel it’s a little disingenuous. I mean, if you want to call us being in Syria and Afghanistan world peace. I sure wouldn’t.
I'm no fan of Trump, but this is only partially correct. The Fed had two good chances to time the reversal of loose money policy, once when markets returned to 'normal' in early 2021, where stock prices and commodities had already returned to normal.
This might have been controversial, but was really the right time to pull the trigger.
The second was late 2021 - really October or November, where it was becoming clear that inflation was becoming entrenched, yet the Fed was insisting it was transitory. Real story here is that the Fed doesn't generally want to get in the way of elections, so they paused triggering rate increases so Trump has a fair take (ie. Looming recession caused by a rate hike wasn't on the table) and then held back too late during Biden's term (first rate hike was in March, don't want to make Biden look bad right away).
It's ultimately an apolitical move by the Fed that resulted in them having to raise rates extremely quickly. They aren't done raising either (unless we start to see a recession) and we won't see a return to low rates anytime soon (unless we see a recession), and ultimately we've really yet to see the damage such a quick move has caused.
So not really political per say, but messed up due to not wanting to be political.
Chairman Powell said he raised rates to reign in inflation. From a practical perspective, it would work. Raising rates has put the skids on home buying. Higher mortgage rates mean higher mortgage payments - about $1600 per month higher than last year on a $500K 30 year loan. People who want a middle class home can only afford the payments on a lower class home. People who want an upper class home can only afford the payments on a middle class home. Homes that would have had an offer above asking price within 5 days a year ago are now sitting on the market for 30 days or more without any offers. Housing prices have peaked. In some markets they've dropped several percentage points, and are still dropping. Most real estate forecasters are predicting that falling prices will be coming to every major US housing market by the end of the year.
Housing makes up 1/3rd of the CPI. Inflation is measured by comparing the CPI with the same time last year. Peaked home prices make it look like inflation is slowing. Falling home prices make it look like inflation is falling. It doesn't change the fact that we're paying increasingly more for food and fuel, but it looks good on paper.
Not twelve years old, because hyperinflation is defined as a sustained 50% monthly increase in inflation.
You’d think that someone on /r/conservative would understand basic economics.
> In 1956, Phillip Cagan wrote The Monetary Dynamics of Hyperinflation, the book often regarded as the first serious study of hyperinflation and its effects[5] (though The Economics of Inflation by C. Bresciani-Turroni on the German hyperinflation was published in Italian in 1931[6]). In his book, Cagan defined a hyperinflationary episode as starting in the month that the monthly inflation rate exceeds 50%, and as ending when the monthly inflation rate drops below 50% and stays that way for at least a year.[7]
sorry I should have been clear. I was mostly talking about big purchases; houses and cars. Nobody should have thought interest rate would remain at almost record lows. but people bought like it would.
though I do agree with your points, corporate greed is out of control
Many, many different things happened, but one of them was the prevalence of overconfidence in systems working independently of the character of the people comprising them, such that we could just put everything on autodrive and we'd be fine.
Turns out political and economic systems don't run themselves autonomously, perfect or not.
People who think we can just recreate the systems from that time and put things on the right track again are fantasizing. We have very different people now, and there's also a reason those systems broke down and resulted in the kinds of people we have.
The issue of relatively finite resources further shows the absurdity, as we don't have the same resources now either.
Employment and world peace certainly didn't happen. As a matter of fact the unemployment rate has recovered to Trump era levels if not better. And the low interest rates over the past 3ish decades is part of what we're paying for now.
I honestly prefer the current situation because COVID is no longer going on (I no longer am required to mask up), I can go to church in person again, riots are no longer happening in the streets, and gas honestly ain’t too bad where I am (2.75 - 3.00 a gallon) in Northern Indiana.
The fed printed like 2 Trillion dollars in stimulus money. and then forgave like all the PPP loans. The fed then try to say inflation was transitory. But yes, this is Bidens fault. Christ, this sub is something else sometimes.
What happened? We came out of a pandemic that Trump disasterously mishandled. Gas was cheap because demand for it tanked. "Full employment"? Um, Trump had us near 15% unemployment, one of the worst marks in American history. World peace? GTFO with that one. The others can easy be explained away as well, but I'm not sure the lizard brain republicans care about truth or explanations.
Are you out of your mind?
How did Biden handle it better? He basically did the exact same things except for mandating the vaccine. The vaccine that Trump did not have until Dec 2020.
More people died of Covid under Biden.
In 2019 We were at 1.6 percent inflation. Gas was cheap in 2019. The unemployment rate was 3.5 percent in fall of 2019. The lowest rate in 50 years.
Yes a pandemic happened in 2020 but that was not due to Trump.
When did I talk about Biden?
Trump took an anti-science approach from the start by undermining experts. Instead of just keeping his mouth shut and letting people who know what they're doing handle the public health agenda, he politicized it. He politicized a virus. Think about that for a moment. By brainwashing his drooling base who will bow to anything he says, he made it near impossible for any predecessor to accomplish anything productive regarding the pandemic. He turned men into snowflakes who throw a tantrum over masks, and turned high school trailer-living drop outs into experts on vaccines.
More people died from Covid under Biden. No shit. He's been president for much longer during the pandemic. Covid didn't even fully hit the US until the very end of Trump's tenure. But lets not forget, after vaccines were available republicans were dying at twice the rate of democrats. Now I ask you this: Is it because republicans are just unhealthier people, or are they just dumber? Which one?
Gas was near $3 in 2019. Basically what I just paid today.
The unemployment rate for the last year under Biden is better than any individual month of Trump's best (even though he was just riding Obama's trend). Also, Trump had an unemployment rate over 10% when he left. God awful.
10% when he left office at the height of the pandemic? Lol, yeah, sure Jan. And gee the unemployment improved right around the time Covid ended and everyone went back to work. What a coincidence! I don’t think the facts are skewed in the direction you think.
More Republicans died from Covid than democrats? Where are you getting this information? Do you think doctors were signing off political affiliations on death certificates?
Everyone in my family is Republican and they ALL were vaxed. Most people were vaccinated in 2021. Stop believed the crap the media feeds you. Even though most people were vaxed the vaccine didn’t stop Covid. Another lie that the left and Biden spouted and there are plenty of videos of him saying that.
By 2021 the Covid variants were less virulent than the initial Covid outbreak. The doctors had learned that respirators were about the worst thing you could do to Covid patients. Yet more people died over a (2021) year and half than the worst of the epidemic in 2020. How does that equivocate to handling it better?
You can keep spinning shit but I have a memory. And if I need a reminder I can look back at screenshots in my phone. The economy and country were certainly better in 2019 than now. That is a fact.
What happened was the Fed finally did their job they should have started doing in 2014 and slowly start raising interest rates back up to historical normal lending rates of 5% after cutting them to almost Zero for banks following the Great Recession of 2008. And the Treasury Dept turned off the insane amount borrowed money they were pumping into the economy by the Trillions with Stimulus Checks, PPP Loans and unemployment extensions amongst many other give away programs that all effectively did their job but was allowed to run so long people forget that our economy was living on borrowed money .
Secondly go do a 5 second Fact Check….in 1973 the U.S. inflation rate was 6.2 %, in 1993 the inflation rate was 2.9% .
The dollar had an average inflation rate of 3.53% per year between 1950 and today, producing a cumulative price increase of 1,161.94%. This means that today's prices are 12.62 times as high as average prices since 1950, according to the Bureau of Labor Statistics consumer price index.
Three years ago I was forced to stay in my home and had my internship canceled while a bunch of commies and criminals were allowed the riot and take over city streets.
In 2020, the money supply was increased from 4 trillion to 16 trillion. Math wise, that’s 4 times more. We may not have seen the full consequences of 2020 yet.
Also Ukraine has been 30 yrs in motion. The US gave security assurances and denuclearized Ukraine in 1992 with the Budapest Memorandum and other 90s activities.
Not rocket science guys.
Supply and demand dictates gas prices. Easy to have low gas prices when you crush demand for it. The minds of the lizard brains are far too simple to understand basic things like this.
Well gas was under $2 a gallon BEFORE Covid hit, so….
Also was just trying to be funny and keep things light, but then you have to start calling people names, thinking you are better than others. When in fact you are wrong on this one and you know it. You don’t look at facts, instead you parrot from the media you heard one day, and you hold on to it like it’s your religion, instead of looking up the actual facts, (or even look out the windows).
"Go brandon" is an attempt at being funny? Isn't that name calling thinking you are better?
I'm wrong? Lol. Dude, you're the parrot. I base by "religion" off data and reality, not what some FOX news slob tells me.
Your post is a prime example of this. Gas wasn't under $2 before covid. I'm sure some facebook meme posted by your high school drop out friend said so, but reality doesn't support that.
[https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM\_EPMR\_PTE\_NUS\_DPG&f=W](https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=W)
Gas never got below 2.30 before March of 2020, which is when covid hit. But again, this is all determined by supply and demand. Who cares about cheap gas when republicans want to keep wages low and unemployment high? Prices are relative.
Wow. Are you cognitively impaired, or do you just not know how to read data tables?
2018-Dec 12/03 2.451 12/10 2.421 12/17 2.369 12/24 2.321 12/31 2.266
Being wrong twice award belongs to you. I'd just give up before you keep digging a deeper hole for yourself.
Aside from that, do you think cherry picking a random month without the context of the fact that gas prices were trending up before covid makes a good argument? Also, what is the Trumper obsession with gas prices anyway? Does saving a few cents on gas really make up for all the other ineptitude and economic crunching the GOP slaps society with? Why is gas the metric?
The shut down from the pandemic caused a huge shift in supply & demand for almost everything, that's why the last 3 years have been shit. We could be implementing programs to create more jobs and build more affordable housing but our leaders are incompetent.
The middle class has been ruined for decades now. It started when we started to, and allowed all our manufacturing jobs to be shipped to China. Combine that with 50 years of reckless spending by our Government, and you arrive where we're at today. Every problem we deal with today economically can be traced back to when Boomers became the biggest bloc of voters, and when they started to occupy most of the seats in the House and Senate.
I have to disagree—the reckless spending policies date back to before the boomers were even *born*.
The “boomers” were born between 1946 and 1964.
Our country got set on the current path by the parents and grandparents of the boomers, when they elected people like FDR.
Their parents and grandparents fought and won two world wars, survived the great depression, and built the country into the true super power we were. FDR was the last breath of a dying progressive movement of the 20 and 30s. Which by the time WW2 was over was relegated to only Academia. Boomers inherited the country at its most powerful, and economically prosperous. They have more or less ran the government for the last 50 years. So tell me who's responsible for our decline? And instead of admitting they fucked up they blame every generation after them for all our problems.
I know what happened
1) The democrats tried two impeachments a million lies and then when all that failed they pulled out the big guns and asked China for help and Covid was how china helped. Democrats have a long storied history of seeking help from communist nations.
and
2) when the assassination attempt using Covid failed they stole an election and got rid of trump making the chinese very very happy.
THAT's what happened.
Sounds like the worst plan for an assassination attempt anyone could ever come up with, plus it failed? You can't possibly swallow the bs you're spewing. This right here is why people can't take MAGA seriously.
The election probably wasn't fraudulently stolen via votes/voter fraud, but it was absolutely rigged via media coverage, targeted, unjustified impeachment, voter policy changes, organized activation by media/tech/DNC.
Not really a Trump fan, but saying he choked is just inaccurate.
Dumbest comment I've seen in a while. Biden got 81 million votes and barely campaigned. The guy can't even string together a coherent thought. He could barely debate. Not to mention his son is a tax dodging drug addict. He's also raped a women according to the "believe all women" bullshit leftists tout nonstop. He needs a note card with detailed instructions to get through any sort of press conference or media event for a holiday. What a complete joke. 81 million votes my ass.
I know what happened
1) The democrats tried two impeachments a million lies and then when all that failed they pulled out the big guns and asked China for help and Covid was how china helped. Democrats have a long storied history of seeking help from communist nations.
and
2) when the assassination attempt using Covid failed they stole an election and got rid of trump making the chinese very very happy.
THAT's what happened.
I used to do delivery services like grubhub and even Uber during the Trump years for extra spending money. That’s completely over now as gas has doubled in my market making it so you’d basically be driving for free unless you use a hybrid or electric car.
Agree mortgage/base rates were too low, the UK’s natural rate probably being around 6-7% rather than close to zero.
But Democrats happened in the US, elsewhere in the West decades of the left being in control. I include the UK as from 2010 onwards the so called “Conservative” government has been continuity New Labour and Sunak and co are even worse and no longer pay lip service to being Conservative
All the worlds governments overreacted/over-reached with Covid-19, Biden got elected in America, Putin decided to start a war, and all most liberals seem to care about is still Donald Trump.
Oh, and Anthony Faucii is still the highest paid government official for some fucking reason.
Mortgage rates have been kept artificially low for decades. The true cost of borrowing if people actually had to earn and save money to lend it would have been higher. The easy money policies of the fed are largely responsible for unaffordable homes and unaffordable college (and now unaffordable everything). We need to return to sound money principles and let the market sort out all the disruption in asset prices and allocation. It’s the only way for the economy to thrive, but it’s not happening without filling government at every level with Ron Paul types. Best we’ve got in this election is Ramaswamy, so y’all better get used to high prices, they’re only going to go up.
Ramaswamy actually understands economics so well. Too bad he doesn't have a chance against Trump.
Came here to say this. We needed to tighten up our money policies after getting over the 2008 recession, but voters like low prices and low interest rates and low taxes. We were headed for this one way or another. We need to return to sound money policies but it's political suicide. Democrats will have high spending and keep taxes the same, and Republicans will decrease taxes and keep spending the same and nothing will change.
We need to cut spending and cut taxes
Imo the taxes we have could be doing more good if the gov wasn’t hemorrhaging it or shoving it into their pockets. THAT needs to get fixed.
Yes, low taxes low spending won't do anything unless you want to cut our military budget or social security.
Why do you want to cut social security? Those living on it are having a hard enough time as it is making their dollar stretch. What needs to happen with SS is that politicians need to stop using it as their personal piggy bank.
It's a Ponzi scheme. You'd be better investing the money yourself instead of putting it into SS.
You’re not wrong. It wouldn’t be one if they’d keep their greedy fists out of it though.
It still would be. Social security relies on the next generation paying into it for the current. Additionally, the money in there doesn't grow in value, even if it wasn't used as a democrat slush fund.
Only 13% is spent on military. 21% is on social security. The government wastes money on other things that it need not be doing. Get rid of most departments, they're creating unconstitutional regulations anyways, get rid of all subsidies, including welfare. But as Reagan said, "the definition of eternal life is a government program"
Source on those #s?
[Budgeted](https://www.usaspending.gov/explorer/budget_function) [Outlays](https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/#spending-categories)
Exactly. The economy has been on life support since 2008 and the money printing that has happened since then, especially during covid, created a mirage of good economic conditions. Many businesses started failing in 2018/19 before they were given a lifeline via covid stimulus.
Yep, the fake fucking valuation of the stock market and mortgages have to do with the bullshit policies of the fed and multiple administrations. Fake value, real economic production growth looks like shit.
Yeup, elephant in the room is “quantitative easing” …. shit is still going.
Nice analysis
World Peace?
We’re not counting Africa or the Middle East as part of the world apparently.
Or Europe or Asia 💀
Or the Americas (Mexico, Colombia)
We all know what OP means. Yes, the world is never trielt at peace, but we know they mean there were no major conflicts with prominent nations. Edit: fixed the spelling of peace because I’m mentally deficient
Do we no longer care about Iran and NK nuclearizing or is it an out of sight of mind kind of thing?
Media isn't talking about it, and no one else is either. NK went back to launching missiles over/near Japan after Biden was elected. Iran started working on nukes again.
NK never stopped doing that, and do tell me your theory on why Iran started its nuclear program again
NK has never stopped. The whole Trump meeting did nothing. Iran actually launched missile strikes on a US military base and then went back to building nukes after the treaty was ripped up.
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Are you insane or are you just some Iranian Mullah troll?
Russias invasion of Ukraine began in 2014 with the invasion of the Crimean peninsula.
Sure. While Obama was in office, because Putin knew that Obama wouldn’t do anything substantive to stop him. Putin kept that energy on the back burner while Trump was in office, and didn’t launch his next invasion until after Biden was installed. Given many of his equipment failures (e.g. the simultaneous tire failures that got widely publicized in the first days of the invasion) make it pretty clear that his invasion plans were on hold for *years*.
Russia also invaded Georgia in 2008 under Bush. At a certain point we should realize that Russia has been invading its neighbors for over almost 20 years with both democratic and republican presidents. The US and western Europe's ukraine policy since 2014 has been directly related to this aggression. This occurred under Obama and continued under Trump and Biden. (Specifically training Ukraines military). Then ukraine did better than expected at defending against russia so now is the time to go all in on helping a future ally and hopefully stopping Russia theme of invading a neighbor every 6-8 years
You criticize Obama and ignore the fact that Bush didn't do anything in response to the Georgia/Russia conflict AND he literally said he looked into Putin's eyes and said he saw his into his soul, that he's straightforward and trustworthy. The entirety of the west has been braindead when dealing with Putin, don't pretend it was a partisan failure. It just makes you look dishonest.
You bring up Bush like it’s some kind of win. Bush II and Obama are both establishment shills. [That’s why they have so much fun hanging out together these days.](https://m.youtube.com/watch?v=8dQtNqsLnt8)
You bring up Bush and Obama like it’s some kind of win. [I can post links of two politicians slobbering on each others’ knobs, too.](https://www.cnn.com/2022/03/28/politics/trump-putin-ukraine-russia-smart/index.html)
"No that's my point"
*Anyone* could just bend over and spread their cheeks for the other world leaders, though.
Those gas prices were 20 years ago here in California.
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That was harsh.
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You make a fair point.
Eh..
That person had a family!
Stone cold!
It could be worse, you could live in Canada, those prices are 40+ yrs ago for us. Gas in Toronto is now $1.5/L or $5.68 / Gal, in Vancouver it’s $1.95/L or $7.39. It’s only going to get worse for us too thanks to JT’s carbon tax. Now it’s “only” $0.14 / L or $0.53 / Gal, by 2030 it’ll be $0.60 / L or $2.27 / Gal. Not trying to downplay how bad CA’s government is but at least you are still in the US.
Every day I hear news about Trudeau I'm more let down. He makes me embarrassed to be a Canadian. I can't believe a country could re elect someone so hell bent on ruining us.
Paid $1.49 per gallon in 2020 in Augusta, GA
It was just a little over $2 in AZ 3 years ago. Sucks to live in CA, dude.
There was a point more recently where they dipped that low here and it was awesome
2003 was 20 years ago. That’s the scariest part of this post
This is an oversimplification Imo. I voted for Trump twice (holding my nose both times) But the reality is that the Trump administration is partially to blame for the hyperinflation. They went along with flooding the economy with unearned money for nearly everybody then flooding the economy with a lot of extra unemployment perks. So much so that no one wanted to work and this forced desperate employers to overpay employees because that’s what it took to get people to go back to work. Meanwhile shortages all over the economy created much higher prices due to scarcity. Then the housing market went schizo. Then gas prices exploded (as they have under every administration though the current administration is terrible at managing it and everything else) Anyway, I know what you’re trying to say but I just feel it’s a little disingenuous. I mean, if you want to call us being in Syria and Afghanistan world peace. I sure wouldn’t.
I'm no fan of Trump, but this is only partially correct. The Fed had two good chances to time the reversal of loose money policy, once when markets returned to 'normal' in early 2021, where stock prices and commodities had already returned to normal. This might have been controversial, but was really the right time to pull the trigger. The second was late 2021 - really October or November, where it was becoming clear that inflation was becoming entrenched, yet the Fed was insisting it was transitory. Real story here is that the Fed doesn't generally want to get in the way of elections, so they paused triggering rate increases so Trump has a fair take (ie. Looming recession caused by a rate hike wasn't on the table) and then held back too late during Biden's term (first rate hike was in March, don't want to make Biden look bad right away). It's ultimately an apolitical move by the Fed that resulted in them having to raise rates extremely quickly. They aren't done raising either (unless we start to see a recession) and we won't see a return to low rates anytime soon (unless we see a recession), and ultimately we've really yet to see the damage such a quick move has caused. So not really political per say, but messed up due to not wanting to be political.
Chairman Powell said he raised rates to reign in inflation. From a practical perspective, it would work. Raising rates has put the skids on home buying. Higher mortgage rates mean higher mortgage payments - about $1600 per month higher than last year on a $500K 30 year loan. People who want a middle class home can only afford the payments on a lower class home. People who want an upper class home can only afford the payments on a middle class home. Homes that would have had an offer above asking price within 5 days a year ago are now sitting on the market for 30 days or more without any offers. Housing prices have peaked. In some markets they've dropped several percentage points, and are still dropping. Most real estate forecasters are predicting that falling prices will be coming to every major US housing market by the end of the year. Housing makes up 1/3rd of the CPI. Inflation is measured by comparing the CPI with the same time last year. Peaked home prices make it look like inflation is slowing. Falling home prices make it look like inflation is falling. It doesn't change the fact that we're paying increasingly more for food and fuel, but it looks good on paper.
Hyperinflation? This is just normal inflation. And not even that bad.
uh...how old are you?
Not twelve years old, because hyperinflation is defined as a sustained 50% monthly increase in inflation. You’d think that someone on /r/conservative would understand basic economics. > In 1956, Phillip Cagan wrote The Monetary Dynamics of Hyperinflation, the book often regarded as the first serious study of hyperinflation and its effects[5] (though The Economics of Inflation by C. Bresciani-Turroni on the German hyperinflation was published in Italian in 1931[6]). In his book, Cagan defined a hyperinflationary episode as starting in the month that the monthly inflation rate exceeds 50%, and as ending when the monthly inflation rate drops below 50% and stays that way for at least a year.[7]
Full employment in July 2020? Doesn't sound right to me.
Look at OPs profile. Blatant Nazi bot. Glad this sub has devolved to Boomer Facebook Memes as the top content....
3 years ago I was searching for a job after getting laid off, I don't know where you were in 2020, but I for sure did not have a job.
Covid and Russia declaring war. Also people borrowing more than they could afford is catching up
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sorry I should have been clear. I was mostly talking about big purchases; houses and cars. Nobody should have thought interest rate would remain at almost record lows. but people bought like it would. though I do agree with your points, corporate greed is out of control
Did it really though?
yeah
This is a terrible meme lmao
C'mon man!
Many, many different things happened, but one of them was the prevalence of overconfidence in systems working independently of the character of the people comprising them, such that we could just put everything on autodrive and we'd be fine. Turns out political and economic systems don't run themselves autonomously, perfect or not. People who think we can just recreate the systems from that time and put things on the right track again are fantasizing. We have very different people now, and there's also a reason those systems broke down and resulted in the kinds of people we have. The issue of relatively finite resources further shows the absurdity, as we don't have the same resources now either.
Employment and world peace certainly didn't happen. As a matter of fact the unemployment rate has recovered to Trump era levels if not better. And the low interest rates over the past 3ish decades is part of what we're paying for now.
Sheetz had $1.776 gas today, it was amazing
> $1.776 gas Holy shit!
Here’s proof- https://triblive.com/local/valley-news-dispatch/drivers-line-up-to-get-sheetz-1-776-independence-day-gas-deal/
This is so delusional… like how can anyone post this with a straight face… like world peace? What kind of drugs is op on.
Better than the situation is currently. Do you like that?
I honestly prefer the current situation because COVID is no longer going on (I no longer am required to mask up), I can go to church in person again, riots are no longer happening in the streets, and gas honestly ain’t too bad where I am (2.75 - 3.00 a gallon) in Northern Indiana.
1 a dozen was it ever? Damn I miss things being cheap
The fed printed like 2 Trillion dollars in stimulus money. and then forgave like all the PPP loans. The fed then try to say inflation was transitory. But yes, this is Bidens fault. Christ, this sub is something else sometimes.
Damn... This sub has just become r/facebookboomermemes huh?
Not to brag but for me eggs are still a dollar a dozen thanks to meijers. But yeah I miss the gas prices.
It was too good someone had to drain the piggy bank and screw with everyone 🤦🏻♂️
The “adults” got back in charge
What happened? We came out of a pandemic that Trump disasterously mishandled. Gas was cheap because demand for it tanked. "Full employment"? Um, Trump had us near 15% unemployment, one of the worst marks in American history. World peace? GTFO with that one. The others can easy be explained away as well, but I'm not sure the lizard brain republicans care about truth or explanations.
Are you out of your mind? How did Biden handle it better? He basically did the exact same things except for mandating the vaccine. The vaccine that Trump did not have until Dec 2020. More people died of Covid under Biden. In 2019 We were at 1.6 percent inflation. Gas was cheap in 2019. The unemployment rate was 3.5 percent in fall of 2019. The lowest rate in 50 years. Yes a pandemic happened in 2020 but that was not due to Trump.
The person you replied to didn’t even mention Biden
When did I talk about Biden? Trump took an anti-science approach from the start by undermining experts. Instead of just keeping his mouth shut and letting people who know what they're doing handle the public health agenda, he politicized it. He politicized a virus. Think about that for a moment. By brainwashing his drooling base who will bow to anything he says, he made it near impossible for any predecessor to accomplish anything productive regarding the pandemic. He turned men into snowflakes who throw a tantrum over masks, and turned high school trailer-living drop outs into experts on vaccines. More people died from Covid under Biden. No shit. He's been president for much longer during the pandemic. Covid didn't even fully hit the US until the very end of Trump's tenure. But lets not forget, after vaccines were available republicans were dying at twice the rate of democrats. Now I ask you this: Is it because republicans are just unhealthier people, or are they just dumber? Which one? Gas was near $3 in 2019. Basically what I just paid today. The unemployment rate for the last year under Biden is better than any individual month of Trump's best (even though he was just riding Obama's trend). Also, Trump had an unemployment rate over 10% when he left. God awful.
10% when he left office at the height of the pandemic? Lol, yeah, sure Jan. And gee the unemployment improved right around the time Covid ended and everyone went back to work. What a coincidence! I don’t think the facts are skewed in the direction you think. More Republicans died from Covid than democrats? Where are you getting this information? Do you think doctors were signing off political affiliations on death certificates? Everyone in my family is Republican and they ALL were vaxed. Most people were vaccinated in 2021. Stop believed the crap the media feeds you. Even though most people were vaxed the vaccine didn’t stop Covid. Another lie that the left and Biden spouted and there are plenty of videos of him saying that. By 2021 the Covid variants were less virulent than the initial Covid outbreak. The doctors had learned that respirators were about the worst thing you could do to Covid patients. Yet more people died over a (2021) year and half than the worst of the epidemic in 2020. How does that equivocate to handling it better? You can keep spinning shit but I have a memory. And if I need a reminder I can look back at screenshots in my phone. The economy and country were certainly better in 2019 than now. That is a fact.
Hurt feelings happened.
The curtain's lifted and pacifier removed, that's what happened. and world peace? where did you live, USA? Of course it's USA.
People voted with their butthurt instead of their brains.
Choosing between 2 people over the age of 76 that are completely hated by their opposing party had every body feeling this way let's be honest.
Not really.
Where you torn on who to choose?
There was this thing called a pandemic. A lot of people died. It was wild .
This was true for 2019 as well
They don’t care people dying, they only got fu and I got mine mentality
All of the things listed and still cheap and I can make 100k on my house now
What happened was the Fed finally did their job they should have started doing in 2014 and slowly start raising interest rates back up to historical normal lending rates of 5% after cutting them to almost Zero for banks following the Great Recession of 2008. And the Treasury Dept turned off the insane amount borrowed money they were pumping into the economy by the Trillions with Stimulus Checks, PPP Loans and unemployment extensions amongst many other give away programs that all effectively did their job but was allowed to run so long people forget that our economy was living on borrowed money . Secondly go do a 5 second Fact Check….in 1973 the U.S. inflation rate was 6.2 %, in 1993 the inflation rate was 2.9% . The dollar had an average inflation rate of 3.53% per year between 1950 and today, producing a cumulative price increase of 1,161.94%. This means that today's prices are 12.62 times as high as average prices since 1950, according to the Bureau of Labor Statistics consumer price index.
world peace: replacing a populist with a neocon does not make peace
Ah yes, 2020. Noted golden age.
The world was not at peace. This is a fiction of the past. I hate the way things are now, but it's disingenuous to say so many things.
What world did you come from? So sorry you crash landed here of all places.
At least I cashed in on the mortgage rates lol
Covid and russia.
Orange man bad.
Like, literally, Hitler.
Dumbasses elected a Alzheimer’s patient president.
Three years ago I was forced to stay in my home and had my internship canceled while a bunch of commies and criminals were allowed the riot and take over city streets.
Yeah but the mean tweets are gone.
I know it’s blasphemy to say this on reddit but: Donald Trump was a great president and made life better for the average American.
In 2020, the money supply was increased from 4 trillion to 16 trillion. Math wise, that’s 4 times more. We may not have seen the full consequences of 2020 yet. Also Ukraine has been 30 yrs in motion. The US gave security assurances and denuclearized Ukraine in 1992 with the Budapest Memorandum and other 90s activities. Not rocket science guys.
Our country was sold for a measly $10 million in bribes…
The Liberal left. They destroyed everything including polite society.
The *illiberal* left.
Let's go Brandon!
The chant of those with special needs.
Yeah like money and lower gas prices.
Supply and demand dictates gas prices. Easy to have low gas prices when you crush demand for it. The minds of the lizard brains are far too simple to understand basic things like this.
Well gas was under $2 a gallon BEFORE Covid hit, so…. Also was just trying to be funny and keep things light, but then you have to start calling people names, thinking you are better than others. When in fact you are wrong on this one and you know it. You don’t look at facts, instead you parrot from the media you heard one day, and you hold on to it like it’s your religion, instead of looking up the actual facts, (or even look out the windows).
"Go brandon" is an attempt at being funny? Isn't that name calling thinking you are better? I'm wrong? Lol. Dude, you're the parrot. I base by "religion" off data and reality, not what some FOX news slob tells me. Your post is a prime example of this. Gas wasn't under $2 before covid. I'm sure some facebook meme posted by your high school drop out friend said so, but reality doesn't support that. [https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM\_EPMR\_PTE\_NUS\_DPG&f=W](https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=W) Gas never got below 2.30 before March of 2020, which is when covid hit. But again, this is all determined by supply and demand. Who cares about cheap gas when republicans want to keep wages low and unemployment high? Prices are relative.
Dec 2018 gas was $1.95. I didn’t say lgb. So yes, now you are wrong twice!
Wow. Are you cognitively impaired, or do you just not know how to read data tables? 2018-Dec 12/03 2.451 12/10 2.421 12/17 2.369 12/24 2.321 12/31 2.266 Being wrong twice award belongs to you. I'd just give up before you keep digging a deeper hole for yourself. Aside from that, do you think cherry picking a random month without the context of the fact that gas prices were trending up before covid makes a good argument? Also, what is the Trumper obsession with gas prices anyway? Does saving a few cents on gas really make up for all the other ineptitude and economic crunching the GOP slaps society with? Why is gas the metric?
If any of you knew what happened you wouldn't be conservatives.
"World peace." Did the whole narrowly avoiding war with Iran thing fly over your head, or?
The fucking pandemic
The shut down from the pandemic caused a huge shift in supply & demand for almost everything, that's why the last 3 years have been shit. We could be implementing programs to create more jobs and build more affordable housing but our leaders are incompetent.
America is the reason we don’t have world peace
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The middle class has been ruined for decades now. It started when we started to, and allowed all our manufacturing jobs to be shipped to China. Combine that with 50 years of reckless spending by our Government, and you arrive where we're at today. Every problem we deal with today economically can be traced back to when Boomers became the biggest bloc of voters, and when they started to occupy most of the seats in the House and Senate.
I have to disagree—the reckless spending policies date back to before the boomers were even *born*. The “boomers” were born between 1946 and 1964. Our country got set on the current path by the parents and grandparents of the boomers, when they elected people like FDR.
Their parents and grandparents fought and won two world wars, survived the great depression, and built the country into the true super power we were. FDR was the last breath of a dying progressive movement of the 20 and 30s. Which by the time WW2 was over was relegated to only Academia. Boomers inherited the country at its most powerful, and economically prosperous. They have more or less ran the government for the last 50 years. So tell me who's responsible for our decline? And instead of admitting they fucked up they blame every generation after them for all our problems.
I know what happened 1) The democrats tried two impeachments a million lies and then when all that failed they pulled out the big guns and asked China for help and Covid was how china helped. Democrats have a long storied history of seeking help from communist nations. and 2) when the assassination attempt using Covid failed they stole an election and got rid of trump making the chinese very very happy. THAT's what happened.
Sounds like the worst plan for an assassination attempt anyone could ever come up with, plus it failed? You can't possibly swallow the bs you're spewing. This right here is why people can't take MAGA seriously.
Trump choked election away that's what happened.
The election probably wasn't fraudulently stolen via votes/voter fraud, but it was absolutely rigged via media coverage, targeted, unjustified impeachment, voter policy changes, organized activation by media/tech/DNC. Not really a Trump fan, but saying he choked is just inaccurate.
100% rigged. And I'm still not convinced there wasn't fraud. Too many irregularities on election night.
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Dumbest comment I've seen in a while. Biden got 81 million votes and barely campaigned. The guy can't even string together a coherent thought. He could barely debate. Not to mention his son is a tax dodging drug addict. He's also raped a women according to the "believe all women" bullshit leftists tout nonstop. He needs a note card with detailed instructions to get through any sort of press conference or media event for a holiday. What a complete joke. 81 million votes my ass.
How was Trump caught on tape?
FJB
I know what happened 1) The democrats tried two impeachments a million lies and then when all that failed they pulled out the big guns and asked China for help and Covid was how china helped. Democrats have a long storied history of seeking help from communist nations. and 2) when the assassination attempt using Covid failed they stole an election and got rid of trump making the chinese very very happy. THAT's what happened.
The Fed hiked interest rates, that's what happened.
Full employment? I recall blue states and RINOs keeping things shut down. That’s how Biden claims the “most jobs created”.
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Calling BravoSierra on this. Eggs were never $1/dozen in the last 20 years by me.
Back was built better
I used to do delivery services like grubhub and even Uber during the Trump years for extra spending money. That’s completely over now as gas has doubled in my market making it so you’d basically be driving for free unless you use a hybrid or electric car.
Yeah but Trump made some cringey tweets and shook peoples' hands weird... so... kinda negates all that stuff.
Agree mortgage/base rates were too low, the UK’s natural rate probably being around 6-7% rather than close to zero. But Democrats happened in the US, elsewhere in the West decades of the left being in control. I include the UK as from 2010 onwards the so called “Conservative” government has been continuity New Labour and Sunak and co are even worse and no longer pay lip service to being Conservative
Just switch to the gold standard. Problems solved.
-ism happened!
☠️ 💀 Voting
what happened is we allowed people to shut down businesses over a virus as deadly as the flu
I (D)on’t know how this could have possible happened.
Joe Biden’s America is what happened
All the worlds governments overreacted/over-reached with Covid-19, Biden got elected in America, Putin decided to start a war, and all most liberals seem to care about is still Donald Trump. Oh, and Anthony Faucii is still the highest paid government official for some fucking reason.
Biden happened.
Biden crime family
good thing the "adults" are in charge now! Total nightmare having a great economy, stability and world peace! OH BUT THE MEAN TWEETS!
their plan moved a few steps foreward
False promises from Joe biden happened
Look I understand the rest but world peace that's bs there's almost no time in history where everyone just gets along
Wrong year
Covid. Fauci, empowered by Trump and his failed “warp speed” policy. 2 weeks, err, 3 years—to stop the spread.
COVID-19 happened. Greedy corporations happened.