Chip Bok for November 12, 2021

Zzzzzz

Come on, Chip. I thought you conservatives loved the whole “supply and demand” thing.

What causes inflation? People bidding up the price on things because they’ve got the means and the desire/need. What fixes inflation? In our society, it’s two bits: People spend down their “means” so they no longer will pay a premium… and providers use the extra profit to supply more of what’s being bid up.

And how is the administration associated with any of this? Well, hardly at all. Though the cost of a loan does play into the big-ticket items such as homes and vehicles. And the pandemic unemployment payments did give inflation a boost… which has now stopped. Rent controls or similar also mess with the free market, though it’s usually such a small part of the economy that it falls into the 4th or further decimal place on the calculations.

Baghdad Bok thinks inflation is only an American thing. This is happening all over the world as people who got vaccinated and have started returning to normal have overwhelmed the supply chain that had been mainly shut down due to Corona. But the RW uses it to attack Biden because it’s low-hanging fruit.

No need to worry, boys&girls!! As soon as the one that shan’t be named is reinstated, in just two weeks from today (25 NOV), inflation will magically – disappear!!!

/SHNARK/

And getting bigger and uglier.

I strained a tendon in my foot. Podiatrist told me it would take 3-5 months to heal. The strains of recalibration, Covid, and the supply chain will similarly take a little time, but I think a year from now inflation will safely be in the rear view mirror.

Inflation is precisely why we need to increase the minimum wage! This country has not upped the minimum wage for 12 years. But holler for making the minimum wage a living wage, and RW pickleheads will belch propaganda about $20 hamburgers and robotized restaurants.

Price of gas, natural gas, heating oil???????? That is inflation caused by Biden. People not going back to work? That is a Dem problem. Give them free stuff and they won`t work. Open your eyes folks!!!!!!!!!!!

Supply and demand factors into the price, the pendulum will swing the other way as manufacturers ramp up over supply.

Gee, and here I thought these RW people were convinced that the free market without government “interference” was the only way to go. Just what do they want the government to do about prices set by privately owned companies under the supply and demand principle?

Inflation has never happened before. I can still buy a GMC pickup truck for $4259 as I did in the late 70’s./s

The price of Food, Housing, transportation, etc. has not increased at all since the last raise in the minimum wage. /s

Inflation is a double gut punch for those of us with nest eggs as it eats up the effective value of our savings at the same time as we are receiving effectively zero interest. Ergo, the price of everything is going up but our savings shrink. Only government could make saving for a rainy day or our golden years a BAD thing.

Bok should go back to Trump University for a course in Economics from Giuliani and Kudlow! /s

Patjade, I agree with you! The Republican party is totally ignoring the fact that inflation is world-wide. Wonder when they will start blaming Biden for the world wide inflation, too?

Spot on – again, Mr. Bok. Let the name callers name call. That’s all they’ve got. They sure can’t point to anything positive about this Administration.

Only the very stupid believe inflation is Biden’s fault. When was the last time you bought a loaf of bread for 10 cents? That would have been in 1929.

Inflation tends to increase as we become more ‘stupid!’

This country has, in my lifetime, seen inflationary times several magnitudes worse than this. Lighten up.

I’ll worry about the price of gas when people start trading in those 12mpg V8 trucks for Honda Civics. They’re much of the problem.

Let’s go Brandon

Thing is, once producers have a “reason” to raise prices, they’ll never go back down. Welcome to the new old normal.