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“But the pandemic will pass, as will the emergency government actions. This will weaken the upward pressure on prices.” For economic purposes, the pandemic has already passed. “Stimulus” passed now will not have an effect for two or three months — and then it will fuel inflation.
The “American Jobs Plan” that was touted by Biden and turned down by the Senate is a prime example. Much of the actual infrastructure it supposedly promoted was economically useless dream projects that would never pay for themselves by increased commerce producing increased taxes, The rest was Democratic wet dream stuff, which would also promote inflation.
HR 1 has just gone down in flames, so interference in the states’ election processes is dead for the session. Ten senators are apparently nearing agreement on a infrastructure bill that actually deals with infrastructure and is half the size of Biden’s fantasy — but they aren’t there yet and there are forty more Senators to persuade.
The Democrats bloviate about passing all their pet projects via reconciliation — but they almost certainly can’t get 50 votes plus Harris in the Senate. The wheels are coming off the juggernaut, and we should all be grateful.
“They never learn anything.” They never forget anything, either. Best beware.
Zonk’s statue is inflatable too.
The economy is booming, as it must after a depressing event like the pandemic. Jobs are available at or above the rate that prevailed before the pandemic (one local McDonald’s has notices on their doors that they’re hiring at $10 an hour — and McDonald’s has pretty decent benefits.)
The jobs are going unfilled because those who used to hold them make more from being unemployed. Their skills and marketability are no greater and when the benefits end — as they will — they’re going to have to accept the old unemployment benefits or go to work.
Meanwhile the market is flooded with cash — but there are few goods to meet the demand. You do know what that means, right? April’s inflation rate for the month was 0.8%. Much was made of the fact that the yearly inflation rate was 4.2% — but that included the year of pandemic. If inflation continues at April’s rate, the year-over-year inflation next April will be — 10%!
Thank you. I immediately though of five memory drives with readout heads and couldn’t make heads nor tails of the joke. A tech education gets in the way sometimes.
You are aware that calling Republicans Trumpbots isn’t changing a single vote in Congress, aren’t you? When the economy is wallowing in the trough in November 2022, yelling “Trump!” isn’t going to prevent a Democratic disaster.
“Paul Krugman What? Punishing the unemployed doesn’t create jobs?” And this clown calls himself an economist. Howynhell did he get a Nobel? Participation trophy, like Obama?
Well, you can — if you want the waiters to go off in a corner and talk about you.
Well, of course government has to impose economic equality. You can’t expect that sort of work to be done on an empty stomach, can you?
“Inconsistency, thy name is woman” — not even Hamlet.